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Social Media and Citi: Connecting with you.

November 23, 2010
Frank Eliason, SVP, Social Media

Last week we launched the Citibank North America Facebook page. I was excited to see it launch, but I also have been a bit reflective on how we accomplished it. I have been asked many times why companies, especially banks, would want to take part in social media.

No one would ever ask the same question about so-called "old" or "legacy" media. Nor would anyone ask why companies must talk to their customers. Everyone understands that companies have to communicate. The reason Citi needs to be a factor online is the same as the reason we need to engage with other media and stay in touch with our customers. Social media is really just another form of communication, similar to the telephone or email. The only difference is that the conversations that occur usually take place among many people rather than one-to-one.

Social media--things like this blog, forums, Twitter, Facebook, You Tube and so many others websites--are a great place to communicate with so many wonderful people. If you are like me, when you first signed up on Facebook many of your grade school and high school friends were able to connect with you. It has completely changed the way we communicate. It makes everything seem so much more personal and meaningful.

In a little over a year from now, Citibank will be celebrating our 200th anniversary. In 1812, this company was founded as the City Bank of New York. Over the years we have learned a lot about the industry, our customers and our company. Like most individuals the bank had many high moments, and some from which we learned tough lessons. Through it all we have strived to always be there for our customers. More than most industries banking is built on trust that is earned through a human connection. Over the past 20 years or so, as we have become more electronic-minded, a bit of this human connection was lost, but now thanks to social media we can start building this connection with you.

Besides this blog and the North American Facebook page, you can also find us in social media on Twitter via @Citi, @CitiGTS, @AskCiti. While you are on our Facebook page, make sure you share a story of your favorite toy and Citibank will make a $10 donation to Toys for Tots, up to a total of $100,000!

For those in the United States, I would like to wish you and your family a happy Thanksgiving. We have a lot to be thankful for at Citi and we want you to know we appreciate your support and trust.

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