When social media listening tools provide serious intelligence

Social media listening tools have had direct impact on behavior in the financial services industry.

Frank Eliason, director of global social media at Citigroup Inc., discusses how listening has changed customer relationship management at the financial services company. Social media listening tools have built trust among a constituency that Citi previously had poor relationships with: mortgage customers struggling to pay their mortgages.

The company realized that struggling mortgage payers were hesitant to contact Citi and were instead seeking out unreliable information elsewhere on the Internet. Citi used its social media listening tools to gather information about its customers and changed its behavior. The result: Citi built a community of trust and support -- some of the core tenets behind social tools and their efficacy. Eliason sat down with SearchContentManagement to highlight some key themes at the Social Shake-Up conference.

"We changed the metrics [that measure call center performance] to no longer measure loss mitigation … to be about supporting homeowners," Eliason recalled. "These are different ways we can use listening tools."

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