Question

Your small but prestigious financial services firm has a webpage that increasingly gets traffic and now you, the communication director, want to convince upper management to branch out to Facebook and Twitter pages. But several of the senior partners think that social networking sites are too trendy and informal and they don’t accurately reflect the firm’s conservative culture. They would prefer that most communication with clients happens by phone, letter or face-to-face, and though they are comfortable with e-mail, feel that it is best left for internal communication. You know that convincing the senior partners to adopt more modern strategies will be tough, but you also know that the firm stands to lose its competitive edge in

Answer 1

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Ans.

In the given scenario, Prestigious financial services is a a firm engaged in providing financial services. It s website get traffic congestion and this congestion can irritate existing and potential customer. As face book and twitter is getting popularity with time and everybody want to follow pages on face book and twitter to get latest updates automatically.

Some of senior partners still prefer to follow the traditional pattern to communicate with customers like email, phone, letters and face to face communication but it takes lot of time, energy, human power and expenses. In today’s world open conversation is more preferred instead of internal communication. Adaptation of new modern and open communication approach might be tough for senior members but if it is adopted then it will open new venues for the firm. In business it is always important to maintain competitive strength with competitors otherwise with changing scenarios of the world, clients will also prefer to shift with other competitors. In modern world every one want good services and if website of company will be stucked and communication through outdated time taking modes will be adopted then clients will prefer to shift the firm. It is required for the firm to grow and adopt modern approaches, open conversation and to provide fastest services to retain clients.

Factors of requirement of face book and twitter pages:

1. To advertise various services your firm is providing.

2. To share Company updates with mass crowd

3. To communicate with a big audience

4. To reply faster on queries of followers

5. To get cold calls for opening account

6. To create another mean of communication with customers

7. To avoid website congestion

8. To improve competitive strength with competitors

9. Providing fastest mode of services

10. Creating references for new customer to frame opinion about the firm.

11. To represent the business and make its foot print.