Amex, Bank of America and Chase have been named the top 3 financial brands most effectively using digital media. By utilizing Facebook, YouTube, Foursquare and SMS they have all successfully achieved chart topping rates of social media augmentation. Check this article out to see where financial service trends are heading!
The study compared 27 major retail banks and credit service providers.
“Innovation in digital and mobile is the new battlefield where market share will be won or lost,” said Scott Galloway, founder of L2 (the think-tank that conducted the research)
Update 03/20/2013:
A recent paper by Kireyev, Pauwels and Gupta “Do Display Ads Influence Search? Attribution and Dynamics in Online Advertising” shows the increased performance of PPC ads and how display ads play a vital role here. The research was done using a campaign initiative of a financial institution to sign up more checking account customers online.
Additionally there are some terrific references to studies covering search behavior of consumers – such as spill over to “brand specific organic natural search”. This should be a great resource for anyone in a decision making role for budget allocation for online marketing (no matter what industry).