Curating credible, focused and sustained digital content will become an essential part of network management in the future, according to a panel at the NeMa conference in Vienna.
Although banks are still reluctant to open themselves up fully due to reputational risk, the panel asserted that mastering digital media is key to building client relationships and fostering continued debate, and therefore growth, within the industry.
The panel did not offer concrete guidelines on how network managers could go about embracing the virtues of social media but stated that the paradigm shift was inevitable.
Nevertheless, with #AIFMD and #EMIR becoming more common on Twitter and valuable industry connections being made on LinkedIn, the panel claimed that every financial marketing director is obligated to become "skilled up" with social platforms.
In addition to Twitter and LinkedIn, podcasts and other digital media were earmarked as different methods to communicate with managers' target markets.
One of the panellists commented: "There was a time, 20 years ago, when companies were obligated to produce a long list of rules about how to use the new medium, email, safely. These days people are not nearly as worried and I believe that the same thing will eventually happen with digital and social media."
