News
30/09/09 - Good With Money, Good With Social Media
The Co-operative Financial Services (CFS) are proudly embracing social media platforms such as Facebook, Twitter, YouTube and blogs in order to develop their communication activities and customer intelligence.
CFS has never been afraid to take the first step; CFS launched smile, the first internet bank, committed to UK call centres before anyone else, they are still the only high-street bank to be under-pinned by an ethical policy and to have the only insurance business driven by on ethical engagement policy, so it was only a matter of time until they joined the social media revolution.
One of the most recent social media campaigns released by CFS came after being recognized earlier this year as Best Financial Service Provider by Which, CFS took the decision that instead of sending a traditional ‘thank you’ note to every customer they should do something a little bit more tongue-in-cheek and produce a ‘Thank You’ song to be sung by CFS staff. The successful viral campaign was posted on YouTube and has already been viewed by 25,000 people in the UK.
The viral campaign is a good example of how financial service institutions can use social media to encourage greater dialogue with customers, members, colleagues and anyone else who is interested.
The ‘Thank You’ video was issued organically by CFS, hoping for the snowball effect that many campaigns of this type get, to ensure maximum visibility, the viral was also published on the CFS latest digital venture, The Good with Money Blog. The blog has provided CFS a real platform to showcase their ethics in action, but at the same time allows everyone else to have a say on what they do.
The Co-operative Financial Services Press Office (@CFSpressteam) incorporated Twitter into its online PR strategy and subsequently ‘tweeted’ before the viral was released to create expectation and also on the launch day, issuing new bulletins through the day to create buzz.
To target colleagues and friends, CFS also posted the video on Facebook where the followers of the 3 official Facebook groups* could also see a few behind the scenes photos.
Twitter acted as a catalyst of communication channels where CFS advertising campaign, PR activity, website, the Good with Money blog, its Facebook groups and YouTube integrated into one powerful voice.
Duncan Bowker, Public Relations Manager for The Co-operative Financial Services, comments: “People talk, that’s a fact and we now know that the recommendation of a friend is more likely to end up in someone deciding to choose The Co-operative as their financial services producer. Its important to embrace the social media revolution and engage with customers in this way, we feel that it is important to allow customers to interact with us in which ever way they choose”.
Social Media has proven an invaluable new communication channel for CFS, allowing them to increase their brand awareness expedentially particularly to an audience which otherwise they would not have historically been able to target.
For further information please contact
Alejandra Solis
The Co-operative Financial Services Press Office
Tel: 0161 903 3808
Email : alejandra.solis@cfs.coop
Twitter : @CFSpressteam
*Our three Facebook groups are:
- The CCC is a great place to work
- The Mighty Co-operative Branch Network
- My Direct Sales
About The Co-operative Financial Services
The Co-operative Financial Services (CFS) is part of The Co-operative Group, which is the world’s largest consumer co-operative with around five million members, over £14 billion turnover, and core business interests in financial services, food, travel, pharmacy and funeral care. The Co-operative Group has over 4,500 retail trading outlets.
Following the merger with Britannia Building Society on 1 August 2009, the new organisation is one of the largest and well diversified mutual businesses operating in both retail and corporate markets.
As part of The Co-operative Group, the new business will be characterised by its unique ethical and member reward policies and very high levels of customer advocacy.
The combined business has £70 billion in assets, 12,000 staff and nine million customers. It has over 300 high street branches, 20 corporate banking centres and a major presence in Manchester, London, Leek, Bristol, Plymouth, Skelmersdale and Stockport. There are also 1,000 face-to-face financial advisers throughout the UK.
It is the only mutual organisation that enables its members to earn financial rewards for the products they hold, as well as giving them the opportunity to have a say in how the business is ran.
