These core values serve as guidelines in The Danske Bank Group’s efforts to become their customers’ preferred local financial partner. They also act as quality indicators of the employees daily work life.
Danske Bank in Denmark has implemented these same values as The Danske Bank Group has established. However, all the business areas independently work on and interpret these values for themselves. This is because they need to clearly identify and differentiate themselves in the market. Another important target for Danske Bank is to continuously develop their customer service offerings (3Danske Bank, 2011).
6.2 Danske Bank and social media usage
Today, Danske Bank is present is several social media channels. At YouTube one can find commercials for Danske Bank that are uploaded by other users. Danske Bank also has their own YouTube profile that is called “DanskeBankTV”. This user has uploaded videos containing information around the bank’s services and offerings. Danske Bank also has a Twitter profile where users can follow them, and where the bank can interact with its customers.
Association for distance- and Internet commerce is a Danish interest group for companies using the Internet and other digital channels for business purposes. The “E-commerce prize”
is an annual event where they reward the best companies within e- commerce. May 12th 2011, the award took place, and Danske Bank won the prize in the category “special price”.
The reason for the win is their leading positions in making the Danes use the Internet as a channel for service and self- service (…). Secondly, they are a leading example within cross channel usage, meaning that Danske Bank can be reached through all channels at all times.
By channels is meant, phones, email and face-to-face contact by visiting a branch. Thirdly, they are impressing people through their use of social media, and especially the use of
Facebook to generate ideas for the mobile bank. Finally, their mobile application is top notch.
All in all, Danske Bank put e- commerce on the agenda in Denmark, according to the
association for distance- and e- commerce in Denmark. Also, according to Thomas Heilskov, the head of social media at Danske Bank, they are one of the firms in the finance sector that takes involvement in social media most serious (fdih, 2011). He also states that they have a dialogue with the customers, and try to provide sufficient answers, regardless of the posting.
This is done through Facebook and Twitter, but also private forums and blogs (visible banking, 2010).
The first initiative that Danske Bank used social media for was a campaign called “A Better Bank” campaign. Initially, their focus was on the fact that it was a lot of mistrust towards the bank among their customers.Danske Bank used a blog to ask their customers what they wanted Danske Bank to become better at. Around 3500 people responded and shared their opinions. From this, 25 initiatives were identified and implemented by Danske Bank. The purpose of these initiatives was to give their customers a better experience when interacting with the bank. The “A Better Bank” initiative is now closed, the dialogue does however continue on Facebook and Twitter (4Danske Bank, 2011)
The launch of Facebook and Twitter is a part of Danske Bank´s strategy in becoming more open and customer focused. According to Peter Rørsgaard of Danske Bank, it is fundamental for Danske Bank to have a strong focus on Internet channels, as these are becoming more important for a modern bank in regard to attracting and retaining customers (2finanswatch, 2011).
Morten Kamp Jørgensen, head of Danske Bank’s program for financial understanding, says that younger customers uses Facebook extensively, and that it is therefore natural for Danske Bank to meet them there. Head of social media at Danske Bank, Thomas Heilskov argues further that it is natural for Danske Bank to approach a platform that younger people already are present on. He goes on by saying that this Facebook initiative shows that the bank has understood the value in engaging with their customers in a dialogue. Heilskov argues further that Danske Bank is one of the firms in the finance sector that takes involvement in social media most serious (Huset markedsføring, 2010).
The mobile Application
Danske Bank has recently developed banking applications for iPhone and Android devices.
and for the design. The most significant aspect of these applications is that customers can use their mobile phone camera to import information for bill payments (Mapa online competitor intelligence, 2011). The mobile application was also subject to the “idea bank”, where people could suggest ideas for the application. Several people contributed to the idea generation.
Peter Tries Schleidt says that the fact that so many customers are engaged in the development of the mobile bank gives a strong indication as for what they should do as their customer’s preferences should come first (3finanswatch, 2011).
Danske Bank’s engagement in social media is an initiative that is here to stay. In their communication department, Danske Bank has two employees working full time on social media. Danske Bank has also developed guidelines for how their employees are to act in social media channels. When campaigns and marketing are involved, social media channels will be assessed like every other media, and utilized when the task at hand fits
(2kommunikationsforening, 2010).
Heilskov sees integrating social media into their business as the largest challenge. Two of the main reasons for embracing social media are to be able to secure the bank a presence, and to be able to monitor the online activity. This enables Danske Bank to respond to customer questions and discussions that concerns them. Another feature that Danske Bank whishes to use social media for, is for customer support. By this Heilskov means that Facebook could be a medium for customers to ask questions and receive answers (visible banking, 2010).
Heilskov goes on by saying that it is necessary to educate the organization on social media use and its potential value. On the other hand he argues that social media is worth nothing by itself, but that it is a vital part of the communication and marketing mix. Heilskov says that key measures of success for social media use is a mix of brand perception, building relations and simply enables customers to reach Danske Bank. When asked whether or not he has any favorite social media channels, Heilskov replies that it is not so much about what channels, but about which one that is preferable from project to project. Heilskov sees how social media can add value to projects and the business as the most important question. He goes on by saying that once a business has engaged in social media, it is very important to show a commitment to be there (visible banking, 2010).