B&B taps Facebook feedback

Bradford & Bingley has turned to Facebook-style online communities to gain insight into the effects of the credit crunch.

Bradford & Bingley: taps Facebook-style resources
Bradford & Bingley: taps Facebook-style resources

The troubled building society brought in market research specialists Nunwood to create three on-line forums to monitor the views of stakeholders on its products and consumer comms strategy

The customised websites targeted savers and buy-to-let landlords to mortgage intermediaries, with over 200 customers and intermediaries using the forums so far this year.

Participants are able to post answers to specific research questions set by B&B, respond to polls on top-level issues and discuss topics amongst each other in message board sections.

B&B says that the results have triggered significant changes to its mortgage offers as well as the way they are communicated. The building society has already refined a major advertising campaign as a result of early feedback.

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