Social media case study: Bank CMO told by Board to resolve operational risks or face social media shutdown.
Client situation
- Board raised ‘red flag’ around social media governance concerns across the business.
- As owner, CMO given strict mandate to review and resolve all issues or risk channel closure.
- Serious brand threat caused by ‘online mess’ of forgotten profiles and risky staff accounts.
- Rather than working together, internal teams ‘competed’ against one another for social media
ownership, sacrificing efficiencies and impacting CX. - Without change, all social media marketing, service and sales investments were at risk of being
terminated, severing all customer engagement via branded channels. - – staff felt they might ‘lose their jobs’ for using social media.
Propel’s approach + actions.
- Ran an objective audit of all social media profiles and operations (incl. vendors).
- Analysed market and owned customer data to provide evidence for change.
- Provided a comprehensive risk report and recommendations for the executive.
- Managed profile closure and migration process with internal teams.
- Introduced new governance measures – for staff and vendors – to satisfy the Board.
- Through risk reduction process, identified new growth and cost-saving initiatives.
- staff training and mentoring program to embed new skills and technologies.
Outcomes delivered.
- Addressed the Board’s risk concerns, enabling continued social media engagement.
- Identified seven-figure savings for social media via new governance measures.
- Revealed value of social media customers to executive to justify future investment.
- Optimised technology stack, internal team workflows and approvals.
- Improved all teams’ access to customer insight and content resources to save time and budget across teams.
- and built internal credibility for social media and key staff.