Financial Services Social Media: High risks and high rewards

by

Kevin Waddel

With the economy the worst it has ever been for the last three generations, people have desperately been trying to find a way to bring stability to their life and replaced lost wages and property values. During this time, other costs have rapidly increased which has been doubly painful for the average person. The American political system hasn\’t done much, there has been a lot of debate about to create jobs and solve the real estate crisis but the average American finds them in the exact same position they\’ve been in for the last several years. People have complained about Wall Street and how they feel manipulated, but there hasn\’t been a way to take action. But with the rise of financial services social media, people feel that they\’ve got a better way to share information and learn more about investments. They can make better trades and have a better understanding of real estate and other markets. Of course, it\’s not infallible a large part of the problem has come from misinformation that\’s been spread and both individuals and financial services companies have had to deal with various scams and problems that can be traced back to criminal use of financial services social media. With people dealing with this economy and then the repercussions of possible bad information from this technology there have been a large increase in the number of lawsuits filed against financial services organizations, but in a lot of cases it can all be traced to other individuals on the technology.

It has become nearly impossible for financial services companies (and public companies, in general) to keep up with every piece of information exchanged about them on social media. Many public companies just blindly view social media as free advertising with no downside. But in a lot of cases, the medium shows there is a lack of control of the message. These downsides are extremely common but when they occur it can significantly hurt a brand\’s effectiveness and can eventually lead to lawsuits when financial services social media is misused or misapplied. Of course, because public companies have deep pocketbooks (deeper than other social media users), they become easy targets for lawsuits that really speak more about individuals having general irresponsibility. Most companies are ethical and do everything they possibly can to inform individuals about their products and their financials. Alongside this, the population itself has been educating itself, sometimes smartly and sometimes not, using the internet and

Financial Services Social Media

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Of course, many people take the chances of dealing with financial services social media because the upside is much higher. Having access to a network of information from reliable sources (since it has been largely proven that people trust their friends and families much more than they trust advertising from companies) for their investment needs is wildly important. Plus people assume they can tell misinformation from real intelligence. Over the coming years, social media is going to continue to grow. And as long as the economy stays on a shaky path, people are going to be on edge. But social media can be a valuable investment tool with the right amount of care and caution.

Kevin Waddel is a free lance writer. To get more information about Public relations, Public Relations New York,

Financial Services Social Media

and Health Public Relations visit

makovsky.com

Article Source:

ArticleRich.com