Many Top Lenders Not Using Twitter to Promote Finance Products
Last week, we looked at how the nation’s largest auto lenders were using Facebook to promote themselves. This week, we’re taking a look at another major social network, Twitter.
Only three of the nation’s 10 largest lenders maintain active Twitter accounts for their auto finance operation, and all three ranked in the Top 4. Coincidence?
Here is a summary of how major auto lenders are using Twitter. In the cases where the auto finance operation does not have an active Twitter account, we linked to the company’s general corporate account.
Followers: 2,173
Number of tweets: 786
It took a little digging to find Ally Financial’s Twitter account. The company uses its Twitter feed to promote its dealer relations and to republish its news and press releases. There’s little engagement with any of its 2,000 followers, and it rarely retweets or publishes anything from outside sources.
Sample tweet: According to a recent survey, 65% of car dealers increased charitable contributions since 2011 #allydealerheroes
2. Toyota Financial
Followers: 4,010
Number of tweets: 487
Toyota Financial is actively using its Twitter feed as a customer service tool. The feed frequently reaches out to users who issue complaints or questions via Twitter to try and interact with them (see photo).
Sample tweet: Our Military Rebate Program is our way of saying we’re #thankful for our military and all they do for us: http://bit.ly/XvNyqk
3. Chase Auto Finance
Followers: N/A
Number of tweets: N/A
Finding Chase Auto Finance, or its parent. JPMorgan Chase & Co., on Twitter proved much harder than would be expected for one of the world’s largest financial institutions. There was Chase Bank, but the account has been silent since March. We found this account for its Treasury Services business, but nothing that tied back to the bank or to the auto finance division. If Chase does have a corporate account, then the Treasury Services unit is not following it, although it is following GM, Ford, and Ally Financial.
Sample tweet: N/A
4. Ford Motor Credit
Followers: 777
Number of tweets: 879
Ford Credit isn’t using Twitter to tout its loan products. Its feed includes retweets from satisfied customers, retweets from other Ford accounts, and promotional tweets for a contest to win a Ford Escape.
Sample tweet: Is there a new Ford on your Black Friday shopping list? http://myfrd.co/SaWujj
5. Wells Fargo Dealer Services
Followers: 32,302
Number of tweets: 2,168
There does not appear to be a specific Twitter feed or account for Wells Fargo Dealer Services, the bank’s auto lending operation. The bank’s two main accounts are its corporate account (linked above) and this one, which it uses as a platform to answer customer questions and interact with the public.
Sample tweet: Support your favorite small business this holiday season. What is your favorite local small business?
6. Bank of America
Followers: 105,339
Number of tweets: 1,209
Not to be confused with BofA_Tips, the primary corporate Twitter account for Bank of America does not include any reference to its auto finance operation or to consumer lending in general. The feed is mainly used to promote its philanthropic efforts and the local volunteering done by its employees.
Sample tweet: We extended nearly $6.9 billion in credit to #nonprofit, government and anchor institutions in Q3 2012.
7. American Honda Finance
Followers: 6,349
Number of tweets: 496
Honda maintains as many as eight different Twitter accounts, but none is directly tied to its auto finance operation. The feed does include some customer/public interaction and retweets.
Sample tweet: Today, @Honda is proud to mark the production of its one millionth U.S. export – a milestone 25 years in the making! http://cot.ag/QIbCW1
8. BMW Financial Services
Followers: 18,079
Number of tweets: 707
BMW is using its Twitter feed as a mini-slideshow. As of today, seven of its last eight tweets included photos of its vehicles. Among the other accounts maintained by BMW is this one, which has nearly 30,000 followers and is used to promote BMW’s sales efforts.
Sample tweet: RT @nalleybmw: Every @BMWUSA starts out as a clay model. Reminds us of our childhood #playdoh. http://3birds.ly/VcKUnc
9. Nissan Motor Acceptance Corp.
Followers: 91,438
Number of tweets: 5,157
The official account for Nissan’s corporate efforts in the U.S., there is no account or mention for its captive auto finance unit. The account is purely promotional, touting Nissan’s sponsorships, such as the Heisman Trophy, and retweeting customers’ photos of their new Nissan vehicles.
Sample tweet: Looking good! RT @Ize64 @Nissannews MY DADS NEW TRUCK!!!!! #soexcited! #nissan #titan #v8 #sl http://spr.ly/6014pgv0
10. Capital One Auto Finance
Followers: 56,336
Number of tweets: 756
Similar to other financial institutions, Capital One maintains a corporate account, which it uses as a promotional vehicle, and a customer service account which it uses to interact with its customers.
Sample tweet: What’s shaking for 2013? If it’s a new career, add @CapitalOneJobs to your feed & see the newest openings across the US. #jobs
