I posted
here about
Citi Bank and their use of social media to serve their customers. The man responsible for this is
Frank Eliason.
Frank is SVP of Social Media at Citi. He previously worked at
Comcast and was the man behind
@comcastcares.
Frank recently did a five question interview for my blog and here's what he had to say.
If I can take you back to your Comcast days, at what point did you realise Comcast needed to start using social media to offer customers a groundswell level of support and service?
We started engaging customers my first week with the company. It started by identifying who they were and calling them. As we saw success, we started to find other ways to engage. I still prefer picking up the phone and calling someone over just writing on a post. This is how we did it at Comcast, sometimes even for tweets. It is always powerful to build that human connection.
From my own experience with banks here in Ireland, they tend not to be very open or social. They tend to treat customers like account numbers instead of people. Now that you're with Citi, was there any push back from senior management about using social media and if so, how did you get their buy in?
At Citi, senior management is highly supportive of our efforts. I have found at most companies, senior leaders are supporters, the middle layer is sometimes not as supportive because it changes a lot about the way you conduct business.
Of course the customer and employees are already doing that. In Citi's 2010 annual report, Vikram Pandit, CEO of Citi, gave his thoughts in his
letter to shareholders.
From page 4:
Changes in consumer preferences: A new generation of globally minded and tech-savvy people is coming of age and entering the financial system. Globalisation has harmonised, to some extent, these consumer's tastes, spending habits and expectations in ways that make people who live in the world's largest and most sophisticated urban centres more like one another than ever before.
These consumers also have different, and higher, expectations from businesses than their parents. The demands on businesses that rely on information technology will be especially high: consumers have come to expect instant, fast, reliable, always-on access to a plethora of data. In addition, consumers in differing circumstances and markets increasingly demand products and services tailored to their specific needs.
Keeping up with and staying ahead of those expectations will require changes to the global retail banking business model that are every bit as significant as the changes being wrought by new regulation. Social networking and technology pose perhaps the greatest challenge. More than 750 million people around the world now use social networking sites, which are radically changing the way consumers communicate with each other and with businesses.
What used to be simple messages and now interactive and ongoing dialogues. Industries and businesses that succeed in the new environment are harnessing social network technology to offer highly personalised service and virtual online communities.
In short, consumers everywhere are becoming more knowledgeable and sophisticated. We must treat them accordingly.
From page 6:
Connect with our customers. Citi's global brand is a tremendous advantage. We are continually investing in our brand and finding the right and best ways to connect with customers. We've implemented a rigorous net promoter methodology around the world to measure customer satisfaction and detail specific client characteristics and needs. We are growing in digital and social media, channels that drive meaningful client connections and help us learn what they want from the bank.
You started off by training 100 Citi staff to use twitter. Were there specific guidelines put in place when it came to them using it, and are these guys going to upskill other Citi employees?
Actually many were already trained when I started. My team first created guidelines, and then from that process we continually refined. More recently we began a beta test of our click to chat and click to call functionality. This answers the big trouble for financial firms, where privacy is key.
If you watch most financial firms, including Citi, responses to customer queries usually ask for a DM with a phone number and no account information.
The reason for this is the servers on places like twitter ad facebook are not owned and operated by the financial firm. With click to chat and click to call, you could be having a conversation with a specific agent via @AskCiti and when the conversation shifts to private information, we will be able to take you to a secure environment with the same agent you were chatting with.
If we see you are on a mobile device, we can take you to click to call and if you are on a web twitter client, we can use click to chat.
We have also been growing our participation well beyond twitter and facebook. Today we are starting to interact with customers in a variety of spaces, and sometimes on some of the most difficult topics.
For example, we started this with those having difficulty with their mortgage. This is a topic that is very difficult, and does not always end in the best scenario. At the same time, these are people who have a very specialised need and we may be able to help.
What does the future look like for Citi when it comes to using social media?
I think you will see us coming out with more exciting ways for customers to interact with the bank, community learning and a spirit of greater transparency. I am also more excited by the potential internal social media tools have in reshaping the company and creating better experiences for our customers.
What can other companies/brands learn from Comcast and Citi's approach to social media?
Many companies want to focus on selling and marketing in this space. I have found focusing on the customer is the best approach to building brand advocates. Also as you listen to discussions in this space, taking that information to improve the company brings the greatest ROI