|By William Azaroff on August 16, 2007 5:20 PM | Comments (8)|
While so many FIs are scratching their heads wondering what to do about Facebook, it turns out that TD Canada Trust, one of Canada's biggest banks and the ninth largest bank in North America, is doing all kinds of interesting initiatives there.
What makes their efforts so impressive is that they have clearly tried to figure out the value they add to the demographics of Facebook users. They have managed to strike a balance of being true to their brand, yet not seem like they're pandering to a youthful audience, and offering something of value to the Net Generation.
What first crossed my desk this week was SPLIT IT, an application they created that allows roommates who are on Facebook to manage how they split basic bills.
Welcome to the SPLIT IT by TD Canada Trust application – a no-hassle, budget-sharing tool that enables you to share bills with your roommates. SPLIT IT makes it easy to determine who owes what, view your balances, and keep on top of your payment dates.
The application launched within the past few days. When I first saw it on August 15 it had 44 users. It's grown to 66 a mere 24 hours later. It will be interesting to see where it goes during the next few weeks. I'm also curious to see how it's promoted. Will TD send information to its youth customers, or will they rely solely on word of mouth?
After seeing SPLIT IT I was mightily impressed. It's not easy to find a way to add value for Facebook users. From SPLIT IT, I linked through to their Money Lounge, and I was floored. They have job postings, videos, offers, all sorts of ways to engage the Facebook audience. Scrolling down, I noticed that they have 1,480 members of their group. Even if many of the group's members are employees, it's still an impressive engagement metric.
So, well done TD Canada Trust! The first bank to build its own Facebook app.
William Azaroff is the interactive marketing & channel manager at Vancity where he develops interactive marketing initiatives, and pioneered ChangeEverything.ca, the groundbreaking change-themed online community. William also plans strategy for the online channel, with a view to its potential to help Vancity, its members and the community. William brings nine years of experience in Vancouver, Seattle and Los Angeles producing Web projects for such clients as Honda, Disney, Intuit Canada and Nike Jordan. He writes about the intersection of online branding, social media and the world of banking on his blog at azaroff.com/blog
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