Santander is trying to redefine online banking through social media

"Likes, retweets and followers might be the gauge of a successful social media campaign to some marketers but for Keith Moor they are unnecessary."

"much less about fan growth"

"They're living their lives through those platforms and so we need to be in those places too,"

"Why would someone bother coming out of an app when they can do most of their stuff within the app experience. We need to be part of that ecosystem."

Santander UK concentrates social media efforts on enabling banking interactions inside the social platforms people frequent rather than on accumulating likes or followers. High daily social usage, especially among teens, makes those platforms logical places for routine account checks and financial actions. The bank is reallocating budget from print to digital and social initiatives such as chatbots and social banking to fit user behaviour within apps. Customer loyalty and in-channel experience drive investment decisions, while large promotional campaigns and aggressive customer growth tactics are deprioritised. The bank accepts experimentation and expects some mistakes while mapping the optimal approach.

Read at The Drum