Facebook, Twitter Are Capitalist Tools of Banks and Credit Card Issuers

Banks and credit cards issuers are using social media to connect with their customers and reinforce their brands, including tailoring their social media efforts toward connecting with shared interest groups among their clients, according to research from Corporate Insight.

Banks and credit cards issuers are using social media to connect with their customers and reinforce their brands, including tailoring their social media efforts toward connecting with shared interest groups among their clients, according to research from Corporate Insight.

"Our research shows that many banks and credit card issuers have launched tailored Twitter profiles, Facebook pages and blogs in the past two years. Several firms gear these efforts toward specific customer segments like small business owners, areas of interest like travel, or geographic location, sometimes through the same company," said James McGovern, vice president of consulting services at Corporate Insight, in a statement. "This multiple-profile strategy of targeting specific groups based on their segment, interest or region has emerged as an effective way for firms to address consumers, which can often encourage interaction through social media channels."