Thursday, November 12, 2009

Research firm jumps on the Social Media Bandwagon

I recently came across a blog post from Celent, a research and advisory firm for Financial Institutions. Jacob Jegher, a Senior Analyst, recently released a report entitled "Demystifying Social Media and Next-Generation Online Banking". While we are not subscribers to Celent research (we work with a very modest publication budget), the extract seems to hit all the points I've found in our social media efforts.
I take it as a good sign that a traditional research firm like Celent is advocating participation in social media for financial institutions. We've embraced it and would encourage others too as well. Unfortunately, since I can't see the content, it is impossible for me to say how they suggest banks get involved. If someone has access to the report and can share that with me, I'd love to hear from you.


  1. Kevin,

    Jacob Jegher went on to mention "Smarty Pig" as a good example of an on-line bank using all parts of the social media to succeed. What a fantastic idea. Simple, yet innovative. I will be curious to see how it succeeds.

    The more I become entrenched in the social media realm, the more I realize that all of the successful strategies are "make sense" ideas applied to this new medium. Like any successful marketing channel, you often get out of it what you are willing to put into it. Those that embrace this medium early stand to reap rich rewards. Banking seems to be one of the last stalwart industries slow to test the waters. You and First Mariner are willing to at least stick their toes in to see what all the fuss is about. I hope that the publics response to your innovation is pronounced.

    I hope Jacob Jegher stumbles upon your blog. As an industry analyst, he should have his ear to the rail listening for grass roots analysis from those in the trenches. I think you are doing a great job linking theory and practice.

    Hey Jacob - Send Kevin a copy of your report to read and critique. He may become your best inside source in the field in the future!

    Keep it up!

    Gerry Dunn

  2. Kevin,

    Thanks for the shout out! I would be interested to hear more about how 1st Mariner is harnessing social media. Please drop me a line, we can book some time to chat.

    Jacob Jegher