FS brands can do social media: an interview with RSA Insurance Group

Social media offers brands the chance to connect with customers and prospects on a personal level, build strong relationships through genuine one-to-one communication.

So why have financial services (FS) brands been so slow to join the party?
FS brands face unique challenges when using social media – they’re worried about putting out the wrong kind of message and contravening strict Financial Services Authority and Advertising Standards Authority rules.

And let’s not forget the low levels of consumer trust in the wake of the 2008 banking crisis. A foray into social could invite a barrage of abuse.

Yet despite the barriers there are some pioneering FS brands out there like multinational RSA Insurance Group whose strong presence on social and smart social media activities is helping it boost its brand reputation and fundamentally change the way its markets its products and services. “FS brands can’t afford not to be visible on social as if you’re not talking about your brand you can be sure someone else is,” says RSA’s chief marketing officer, Peter Markey.

As part of a series of video interviews by the DMA Social Media Council, Julie Atherton, chief strategy officer at Indicia, asks Peter about how his company is successfully using social media.

By Smarayda Christoforou, Copywriter, DMA