In response to the annual report on Mobile Banking and Social Networks by the Spanish company Latinia Intelligentia 2020, Farache observes that during the early weeks of the pandemic, banks and customers shared the same space on social media, but effective communication was limited. The focus was on offering financial relief measures, but the massive demand from customers was not optimally addressed.

Effective Bidirectional Communication

Drawing from his experience in the banking sector, Farache emphasizes that communication through social media has gained strength in Venezuela since 2017. He recommends conducting "live" broadcasts on platforms like Facebook and Instagram, providing content that guides users on effective ways to save and access financial services. The entrepreneur underscores that social media is not just a promotional channel but a means to establish bidirectional connections. He highlights the importance of integrating social service channels, offering solutions to problems, information, and follow-up for both customers and potential stakeholders.

Content Diversification and Coverage Strategies

Farache emphasizes that banks should diversify content formats, including videos, blogs, audios, and images, to reach diverse audience groups. Additionally, he stresses the need to invest in a trained team to manage communications positively and directly. In line with Oriol Ros's recommendations, Director of Corporate Development at Latinia, Farache urges banks to go where their consumers congregate, as followers of banking institutions on platforms like Facebook and Twitter continue to grow by 15 to 20% annually.

[Venezuela, November 2023] – Luis Alfredo Farache Benacerraf, Director of Business and Marketing at 100% Banco, highlights the crucial role of social media as a strategic tool for communication and customer engagement, especially in times of crisis and shifting consumption patterns.

In response to the annual report on Mobile Banking and Social Networks by the Spanish company Latinia Intelligentia 2020, Farache observes that during the early weeks of the pandemic, banks and customers shared the same space on social media, but effective communication was limited. The focus was on offering financial relief measures, but the massive demand from customers was not optimally addressed.