Scottrade recently promoted their social media customer service options through Facebook and Twitter. This marks an interesting turning point in leveraging social media platforms for customer support on two different fronts.
First, Scottrade becomes the first brokerage in our E-Monitor coverage group to promote their dedicated customer service through Facebook. While several brokerages have Twitter accounts dedicated to customer service support – Schwab Service for example – there is no comparable support through Facebook. Second, Scottrade employed specific social customer service hours within the firm’s overall online customer service offerings, specifically on the Contact Us page. By doing so, Scottrade is marketing social media as a legitimate avenue for reaching a customer service representative.
In recent years, consumers have taken to social media platforms in growing numbers to voice their frustrations. Brokerage firms that use social media are certainly not immune to public customer complaints. Earlier this year, Fidelity clients took to the firm’s Facebook page to communicate their displeasure with recent website changes. “Is this an early April Fool’s joke?” one posting read. Ouch! Brokerage firms, like any other business, must not only manage and moderate their social media mentions, but also actively engage with clients to directly address concerns and inquiries.