5 Ways Banks Are Using Social Media (Mashable)

Side effect of the financial crisis or finding new way to push products when traditional ad campaigns are becoming less effective? As social web is proving the effectiveness of word of mouth (peer-to-peer marketing) and the value of communities of interest over an undistinct audience, niche marketing is preferred to mass marketing.

/…/This post profiles some U.S. banks that have used social media in their marketing and communications plans in some interesting and successful ways. These banks have tapped into the root of what social media means to the community, enjoying success in the way of returning real value for their institutions.

Social media as a marketing tool is also being used effectively in other industry sectors.

Social Media / 10 Brands Doing it Right

Author Paul Marsden has selected 10 examples of  very good use of social media in marketing strategies, where brands are facilitators and user contributions are delivery channels.

/…/From a Net Promoter perspective, business success is driven by delivering expectation-beating experiences that result in increased loyalty and referral value of customers. So if social media can either help deliver remarkable expectation-beating experiences, or help customers share those experiences, then there is real commercial value in social media./…/

A beginner’s guide to social media

The ice cream selling example (Social media in plain English, by Common Craft)