Oracle Customer Success — Yorkshire Building Society

Yorkshire Building Society

Yorkshire Building Society Builds Brand Loyalty with Oracle Social Cloud

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Oracle Social Cloud helps us better engage and understand our customers—with the aim of increasing brand awareness and loyalty. We are confident that every social post has been through a strict approvals process, ensuring we meet our regulatory responsibilities while building a strong social presence.

— Richard Bassinder, Social Media Manager, Yorkshire Building Society

Yorkshire Building Society Increases Customer Engagement and Builds Brand Loyalty with Centralized Social Media Strategy

Yorkshire Building Society is a leading mutual organization in the UK, providing mortgages, savings, investments, and insurance products to 3.1 million members via a network of 307 branches and agencies. Its vision is to be the most trusted provider of financial services in the UK.

The 152 year old organization sought to establish a social media presence to reach its clients on their preferred social platform. The company required a social vendor that could offer the capability to create a centralized social media strategy, improve net promoter score and customer loyalty, and manage multiple campaigns on several different social platforms.

 
Challenges
  • Implement a centralized social media strategy to include technology, policy, and people to enable Yorkshire Building Society to establish itself as a social business
  • Enable the building society to manage multiple social media platforms including Facebook, Twitter, and LinkedIn, along with multiple products, brands and campaigns in a creative and controlled way
  • Ensure that all social media communications comply with financial conduct authority (FCA) regulations and requirements
Results
  • Chose Oracle Social Cloud to deliver a centralized social media strategy supported by clear social media policies and procedures
  • Contributed to a customer strategy that helped Yorkshire Building Society achieve a high net promoter score of +33 in its 2016 interim results, compared to an industry average of +8 as measured by KPMG Nunwood Customer Voice Program, and to remain amongst the top three most trusted financial services providers in the UK as measured by YouGov
     
  • Ensured that all social media activity falls within financial conduct authority (FCA) regulations, with a solid audit trail, clear approval process, and workflow controls
  • Enabled customers to get in touch via social media, giving them the opportunity to contact the building society via their preferred channel, and helping improve customer service and customer satisfaction
  • Listened to customer feedback and chat across all brands to gain a clear understanding of customer sentiment around brands, products, and topical subjects such as Bank of England base rate change, as well as general searches around share plans and mortgages
  • Enabled the social media team to see all social posts in one view and to publish to multiple platforms across multiple brands simultaneously, while retaining complete control with clear workflow and the ability to stop scheduled posts from going live if need be
  • Monitored activity across Facebook, Twitter, and LinkedIn, and analyzed data across all social platforms in one dashboard to gain a better understanding of key influencers and their demographics, and used that feedback to design new content and communications
  • Used social media to play a strong supporting role for TV advertising by using Oracle Social Cloud to schedule Facebook posts and tweets prior to TV advertisements to help build momentum around campaigns
  • Worked with corporate affairs and communications together with local branches to publicize charity initiatives in the local community via social media, helping to position Yorkshire Building Society as a socially responsible organization
  • Leveraged social media to build awareness and engagement amongst current and potential customer groups, such as first time home buyers, and helped to educate the audience and build a positive brand image
     

 

During a full tender process we compared Oracle, Adobe, Salesforce, and Hootsuite. We wanted a powerful tool and chose Oracle Social Cloud for its solid infrastructure, workflow, archiving, ease of publishing across multiple brands, accurate listening, and detailed analytics.

— Richard Bassinder, Social Media Manager, Yorkshire Building Society

Execution

“Oracle Social Cloud was very quick to implement, we were up and running in less than a week. The Oracle Customer Success team offered excellent ongoing support, technical and product advice, as well as guidance around best practices, helping us maximize the product’s potential across our brands,” said Richard Bassinder, social media manager, Yorkshire Building Society.


About Yorkshire Building Society

Headquarters

 
Bradford, United Kingdom

Employees

 
4,500

Yorkshire Building Society is the second largest building society in the UK, headquartered in Bradford. A member of the Building Societies Association, it is fully owned by its 3.1 million customers. Established in 1864, Yorkshire Building society offers its members mortgages, savings, investment products, and insurance. Brands and subsidiaries include Chelsea Building Society, Norwich and Peterborough Building Society, YBS Share Plans, and Accord Mortgages.

Published:  Nov 16, 2016