Recently a few of our more vocal anonymous readers suggested that someone connect electrodes to my gonads and crank up the juice for dogging Banco Popular for not having a Facebook application. Of course, NO WHERE, did I mention that they create a banking application or anything similar. What were those comments again? Oh yeah Corporate America said,
"I bet that no financial institution is interested in creating a facebook app since it serves no purpose to their line of business nor does it serve their clients' needs. "And francisco had this to say,
"What for? Who needs Facebook banking?"So what's the point? Why does BPPR need Facebook?
My two least favorite expressions in Corporate Double -Speak are "Everyone is in Marketing" and "Everyone is in Customer Service." However, the more I've studied marketing (read Seth Godin), I know they're right. Which is not to say that every employee has to be thinking about those functions, but someone in every company had better be thinking about how the functions those employees complete impact marketing and customer service. Which if you want, for simplicity's sake, you can combine to say that customer service is a subset of marketing, so let's just call it marketing.
I thank an old start-up boss of mine for pointing out the fact of adapting your contact with customers to where "they live." For instance, if someone uses e-mail as their primary communication medium, then the best way to reach them is through e-mail. Sure it sounds obvious, common sense even, but sometimes companies ignore common sense and expect their customers to adapt to what suits them, what saves "them" money, and that's wrong.
So let's take Facebook as the newest place where people "live," and more and more, Facebook is THE place where most Puerto Ricans spend their time. Then it should follow that any company interested in effectively marketing to this group of people MUST have a presence on Facebook.
First let's start with Facebook Groups and Pages. There are plenty of banks already with a presence in each of these Facebook features. I hope that no one would suggest that it doesn't make sense for BPPR to be there as well. But what about applications, if not Facebook Banking, what could BPPR do in Facebook?
Ten applications that Banco Popular could build for Facebook:
- A Newsletter - Every, I repeat EVERY, major company has some corporate double-speak news that want delivered into their customer's hands, I bet an ROI analysis would demonstrate a Facebook application as a cost-effective way to accomplish this task.
- Financial Instrument Tacking - Is there any more effective way of keeping customer's engaged then providing them with the tools that adapt to where "they live?" There is a lot of valuable information available to include in an alert application. Users wouldn't even have to be BPPR customers.
- Mutual Fund
- Stock Market
- Loan Rates
- CD Rates
- Customer Service - Having a problem, issue, or questions? Why not jump over to the BPPR Cusotmer Service application and create a ticket? Chat online? whatever...
- Branch Locator - Heading out to Utuado and want to make sure you know where to go if you need access to your account? Why head over to the BPPR site if you're already in Facebook?
- ATM Locator - On your way to Arroyo for a weekend vacation and want to be sure you know where a saca-chavo is, just in case?
- Video Player - You know all of those nationalistic commercials BPPR cranks out? Wouldn't it be great if people could watch them right in Facebook?
- Financial Planning Calculator - Thinking about refinancing your home to consolidate payments, wouldn't a calculator that factored in all of the closing costs, including the new notary fees, come in handy?
Many suggest, and I completely agree, that traditional marketing, as many used to know and trust, is dead. One of the new realities is that as a society we have become very good at ignoring advertisements, so new marketing has to become part of something we want to see, want to use, or want to hear. Hello? In-movie, -tv, -game product placements anyone? That's where applications come in. In my opinion, any company that has the resources to create a Facebook application, but chooses to run advertisements in Facebook is probably wasting its money.
Flickr Creative Commons Contributor: grittycitygirl