Magazine article CRM Magazine

Avidia Bank Cashes in on the Cardless Trend Using Hootsuite; the Social Platform Helps Harness Influencers to Spread the Word on the Bank's Mobile App

Magazine article CRM Magazine

Avidia Bank Cashes in on the Cardless Trend Using Hootsuite; the Social Platform Helps Harness Influencers to Spread the Word on the Bank's Mobile App

Article excerpt

Banks worldwide have begun implementing cardless cash, which allows users to access their money via their smartphones and eliminates the need for ATM cards and PINs. Cardless cash programs both simplify the customer experience and are a big step forward in the digital transformation of financial services organizations.

Avidia Bank is one such firm that's embraced cardless cash. The Hudson, Mass.-based bank, formed in 2007 from the merger of Hudson Savings Bank and Westborough Bank (both of which were founded in 1869) and boasting $1.3 billion in assets as of 2015, offers a mobile app that enables customers to use their smartphones to withdraw money from ATMs and branch locations. The app cuts transaction time from one minute to 10 seconds and reduces the risk of security and fraud issues since it doesn't rely on card data transfer. Overall, it is more user-friendly and secure.

But the program needed promotion on social media, and for that Avidia turned to Hootsuite's social media platform. The bank's social media strategy relied mainly on organic interactions as opposed to paid ads, and its marketing team elected to do influencer targeting, as the cardless cash launch was the first of its kind for the bank. With Hootsuite's help, the marketing team selected social media influencers in financial services and notified them directly about the campaign. "We have a robust team of brand ambassadors, and the Cardless Cash campaign was a valuable way to see how big of an impact our ambassadors could make organically on social," says Kate Cwieka, associate vice president of social media and brand communications manager at Avidia Bank.

The team also used Hootsuite to publish campaign content and create streams to monitor the cardless cash hashtag, brand mentions, industry conversions, and general news. …

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