Finextra's Social Media Day in London is the tip of the iceberg for social media in financial services.

 

Social Media is the biggest single revolution in PR and marketing that most of us will ever see during our career. Last week Finextra held an event for the financial and financial tech industry to look at how social media is being used in the industry and what other firms should be doing. Cognito sponsored the event and introduced our new social media platform for financial services which enables firms to listen to and join the conversation online.

 

Approximately 200 people attended from many areas of financial services and represented many internal departments - from PR to compliance and legal. 

For those who missed it, some of the main takeaways were:

1) It takes time and resources to use social tools properly. Start listening and planning before you engage.

2) Social media doesn't belong to one particular department. Involve many functions in this new paradigm.

3) Good content is more important than ever and you need to be creative and thoughtful, but inline with the brand.

4) Openness and transparency are the hallmarks of social media. Be prudent and considered in your approach, but engage the spirit of the new media.

5) The market debate and commentary is now online. There are many many experts in all areas of financial services online now. This is where the debate is happening and opinions and reputations are being formed. If you haven't already engaged or started working a plan, now is the time to act.

If you would like to learn more about social media in financial services or Cognito's social media tool for financial services please visit www.cognitoanalytics.com/register or call your nearest office.