Bank of Montreal (BMO) is making use of
social media’s potential for customer retention with a twitter
campaign asking for fashion tips.

BMO and MasterCard kicked off a
social media campaign on micro-blogging website Twitter asking
customers about their smartest shopping tips, offering a C$500
($520) credit to the BMO MasterCard holder with the best
fashion-savvy tip.

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BMO said that the winner will also receive
a C$500 gift card to spend at Toronto-based fashion store Seventy
Seven.

BMO’s campaign is the latest bank
initiative seeking to capitalise on social media’s marketing
potential.

In February, Australian lender NAB
exploited social media to involve its followers in its ‘personal
affairs’, announcing its break-up with the other big three banks in
Australia and posting subsequent tweets such as: “Thanks for your
concern, everyone. Relationships can be tough sometimes! Good
advice helped”.

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