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The Financial Services Marketing Handbook: Tactics and Techniques That Produce Results by Duke Fanelli, Evelyn Ehrlich

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CHAPTER 8

Social Media Marketing

Interactive marketing is two-way communication between marketer and end user; social media marketing is multi-directional, with communications among end users as well as with the marketer. Many financial services companies have been reluctant to use social media because of this lack of control over the content of the communication. In a 2009 analysis conducted by Altimeter Group and Wetpaint, showing the degree of usage of social media by industry, the financial services industry was at the bottom (see Figure 8.1).

FIGURE 8.1 Social Media Engagement by Industry

Adapted from Engagement DB Report, 2009. See www.scribd.com/doc/17666696/Engagement-Rankings-Of-The-Worlds-Most-Valuable-Brands

There are numerous ...

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