Oops, no title! Social media outside WENA

An excerpt from a recent IDC Financial Insights blog posts a useful summary of the social media focus outside WENA (Western Europe/North America). Though the focus of the whole post is banking, this bit is particularly general:

It Is Not Just Facebook. It is easy to be dazzled by the current leading light of social media — Facebook. Indeed, many executives have disregarded the promise of social media by thinking, “how can Facebook really be useful to my bank?” The truth, of course, is social media is not just Facebook.

Across the Asia/Pacific region, there are dominant Facebook alternatives: Weibo in China, Wretch in Taiwan,Orkut in India, and mixi in Japan; these have developed different trajectories and propositions vis-à-vis Facebook. Furthermore, there are market-specific Web boards that provide a wealth of feedback on how banks stack up against each other (e.g., Product Review in Australia and Thai Visa in Thailand). In our recent IDC Financial Insights forums, other social media sites have been cited as useful: YouTube (product training and knowledge sharing made more effective because of video), Twitter (Australian banks dealing with crises such as bank outages), Yammer (internal Q&A and knowledge sharing), and LinkedIn (hiring of staff).

For more, see Eight Principles for Social Media in Banking, IDC Financial Insights, 13 Sep 2011

Other links:
• Weibo: The Chinese Twitter that dwarfs Twitter, Guardian blog (undated). The weibo.com site is in Chinese
• Wretch (also in Chinese)
• Orkut (which is part of Google)
• Mixi article in Wikipedia; the mixi.co.jp site is in Japanese but there is a company overview in English

Interestingly, the Chinese and Japanese language sites feature menu headings in English.

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