The Finanser Logo

Chris Skinner's blog

Shaping the future of finance

Nordea’s use of Facebook and social media to engage their customer

Chris Skinner Author Avatar
by

I really enjoyed the presentations in Oslo, particularly the case studies by Nordea and ValYou.

Nordea spoke about their experiences with social media usage.  This, in itself, is fascinating as just a few years ago no bank spoke about social media in finance.  Now, I am building case studies about how banks see this as both a customer service channel, and a platform for full deposit account usage (mBank and ICICI).

But there is still quite a spectrum of banking from those who ban the use of social media in the office ot those who embrace it for communications.

Nordea falls somewhere in the middle, according to Rune Sjøhelle, Head of Brand Management and Social Media in the Nordea Group and Head of Communications in Nordea in Norway.

Rune presented the Nordea experience of engaging customers through Facebook, Twitter and Youtube and showed that it’s a journey that is challenging, relentless and fruitful.

He began by talking about the general trends of social media usage, highlighting that Ellen Degeneres selfie at the Oscars was the fastest shared update of all time.   It reached almost a million people in just half an hour and now stands at over three million retweets today.

If only Bradley's arm was longer. Best photo ever. #oscars pic.twitter.com/C9U5NOtGap

— Ellen DeGeneres (@TheEllenShow) March 3, 2014

Rune then discussed how most folks do not see a trend till it hits them in the face – “the internet is a fad” (Clifford Stoll) – but when social media hits over a billion people and news can be shared in real-time one-to-one, the world has changed.

As Rune put it: “we need to be there because our customers and stakeholders are there”.

But it’s not just that, it’s more than that.

This was demonstrated to Nordea’s management when, in 2010, they got a wake-up call from the NGO Avaaz who started a social media campaign to stop Nordea funding a firm involved in deforestation in Australia:

The power of this campaign which spread like wildfire, so to speak, stopped the company in their tracks and made them reconsider their approach to the online community.

Now, they embrace Facebook, Twitter, Youtube and LinkedIn, but in different ways.

Facebook is for customer service, Twitter for influence, Youtube for advertising and LinkedIn for recruitment.

Rune then focused upon Facebook, and the fact that a lot of what goes out on Facebook is unseen.  The average update is only viewed by 3% to 15% of followers, so you have to pay or engage to get noticed.

He cited a number of examples where Nordea have paid to promote a page in a campaign and these were particularly successful, and measurably so. They weren’t expensive either.

You can see Rune’s flow of thinking through his presentation below:

And don’t forget to join the Financial Services Club http://www.fsclub.net/  if you want to know more!
Chris Skinner Author Avatar

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...

Chris’s latest book

Chris Skinner’s ‘Digital For Good’ Book Launch Event – CFTE

Global Awards

Best CEO of the Year UK 2022

Best Digital Finance Provider of the Year UK 2022

Best Financial Markets Adviser of the Year UK 2022

Portal to the Knowledge Base of the Financial Services Club UK 2022

Financial Markets Advisor of the Year UK 2022

Corporate America Today Annual Awards

Best Financial Markets Adviser of the Year UK 2022

Portal to the Knowledge Base of the Financial Services Club UK 2022

Financial Markets Advisor of the Year UK 2022

Best Financial Services Blogger

Nominee of MAD33 2021

Kids creating the future bank | TEDxAthens

Join me on Linkedin

Follow Me on Twitter!

UK’s most influential person in technology

Captain Cake and the Candy Crew

Captain Cake Winner of a Golden Mom’s Choice Award

TWO-TIME WINNER OF A MOM’S CHOICE GOLD AWARD!

TheNextWeb – #tnw

Learn more about Chris

About Chris Skinner

Digital Bank Presentation

Digital Bank, May 2014 from Chris Skinner

Alex at the Financial Services

Gaping Void's Hugh MacLeod worked with the Finanser