EVENT FLASH                                                               Bringing Social Media Controls to Financial     ...
With the general availability release of Socialite Engage, Actiance has also established new professionalservices offering...
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IDC event flash on Socialite launch

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Socialite Engage, a social media engagement platform designed specifically for those in the financial services industry. Given the strict rules and federal regulations that govern the financial services sector, Socialite Engage has been built to flexibly manage inbound and outbound content and conversations via popular social media channels such as LinkedIn, Facebook, and Twitter while providing message archiving controls to maintain compliance.

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IDC event flash on Socialite launch

  1. 1. EVENT FLASH Bringing Social Media Controls to Financial Services: Actiance Announces the General Availability of Socialite Engage Erin Traudt Michael Fauscette IN THIS EVENT FLASH This IDC Flash highlights the January 31, 2012, announcement by Actiance Inc. about the general availability of Socialite Engage, a social media engagement platform designed specifically for those in the financial services industry. Given the strict rules and federal regulations that govern the financial services sector, Socialite Engage has been built to flexibly manage inbound and outbound content and conversations viawww.idc.com popular social media channels such as LinkedIn, Facebook, and Twitter while providing message archiving controls to maintain compliance. SITUATION OVERVIEW Today, Facebook, LinkedIn, and Twitter have become household names, not only for communicating with friends and relatives but also as viable channels for conducting business. In fact, findings from IDCs thirdF.508.935.4015 annual Social Business Survey conducted in May 2011 revealed that companies were predominantly using consumer social media tools to communicate with customers (51%), create awareness about a company product or service (43%), and acquire knowledge/ask questions (42%). For those survey participants that were using consumer social software for business-related initiatives, IDC found that the top 5 social Web sites were Facebook (75%), LinkedIn (59%), Google (57%), YouTube (55%), and Twitter (49%). These results support the growing number of use cases for engaging on the social Web for business — not consumer — purposes. The value of social media has a rather broad impact on a range of departments andP.508.872.8200 industries. From an organizational perspective, marketing and public relations professionals have been at the forefront of using social networking and social media tools for external brand awareness activities. However, not all industries have been ready to adopt social media practices because of the need to understand social medias benefits and impact on organizational culture while abiding by heavy government regulation. One company that is helping financial institutions overcome the hurdle of using social media compliantly for customer awareness and engagement is Actiance. Actiance was founded in 1998 originally as FaceTimeGlobal Headquarters: 5 Speen Street Framingham, MA 01701 USA Communications and provides security and compliance software for real-time, unified communications (UC), collaboration, and Web 2.0 technologies including social networks. The company has expanded its product suite with the addition of Socialite Engage — a Web-based application, available via the SaaS delivery model, designed to help marketing professionals, compliance departments, and/or individual financial advisors along with their marketing and compliance teams distribute approved content over LinkedIn, Facebook, and Twitter to drive new business opportunities, customer loyalty, and brand awareness. Socialite Engage is integrated with Socialite Enable, Actiances social media compliance offering designed to help companies and users manage access to social network features as well as moderate custom content and communications before they are publicly released. Key features of Socialite Engage include, but are not limited to, the following:  Content library. Socialite Engage users can select permitted content developed internally or by a third party such as Dow Jones, Thomson Reuters, EarthIntegrate, or Equilar and post that information to social networks via multiple channels (e.g., personal or corporate pages on Facebook, LinkedIn, and Twitter).  Newsfeed. Socialite Engage users can see an aggregated view of all the conversations happening across their entire network.  Key connections. Socialite Engage users can identify specific people within their network to follow more closely in order to monitor their activity and changes in their status.  Teaming. Central marketers manage and monitor the aggregated results of Socialite Engage users, identifying success stories and aiding underperforming individuals.  Analytics. Socialite Engage users can identify and measure the success of a particular piece of content and determine who is the most active and influential member of a network as well as the best time during the day to communicate with prospects and clients. Please contact the IDC Hotline at 800.343.4952, ext. 7988 (or +1.508.988.7988) or sales@idc.com for information on applying the price of this document toward the purchase of an IDC service or for information on additional copies or Web rights. Visit us on the Web at www.idc.com. To view a list of IDC offices worldwide, visit www.idc.com/offices. Copyright 2012 IDC. Reproduction is forbidden unless authorized. All rights reserved. Filing Information: January 2012, IDC #232868, Volume: 1, Tab: Vendors Enterprise Collaboration and Social Solutions: Event Flash
  2. 2. With the general availability release of Socialite Engage, Actiance has also established new professionalservices offerings to help financial services clients better understand how to create meaningful interactionswith key prospects and customers effectively using social media. These services include: Stakeholder Social Engagement Workshop Social Media Enablement Training Session for Financial Services Best Practices for LinkedIn Best Practices for Twitter Best Practices for Facebook Socialite Technical Planning, Configuration and ImplementationFUTURE OUTLOOKThe future of business is social. This not only includes the use of social media for engaging externally withcustomers but also is a way for internal employee social collaboration to occur. A new set of social tools haveemerged specifically for the enterprise that combine consumer social principles with business culture andprocess to transform companies into social businesses. Social businesses are organizations that embraceWeb 2.0 technologies to implement cultural and process changes to improve business performance in anincreasingly connected global economic environment.Important to this transformation process both inside and outside of an organization are education andawareness about social media policies and best practices. According to IDC research, 57% of companieshave a social media policy in place. While this is encouraging, the focus should be on getting the remaining43% of companies to implement guiding principles as well as offer training and certification to encourageadoption, regardless of industry.Heavily regulated industries such as energy and financial services have been under severe scrutiny in recentyears, which has created a highly competitive environment. The need to use social media for clientengagement, retention, and brand awareness is increasing as more businesses and consumers communicate,share, and discover information online. As the wealth of the nation moves more toward a population that isbecoming increasingly social, financial services firms need to begin having conversations in the area in whichthese investors wish to communicate. Socialite Engage is intended to make these activities not only easy forusers but also relevant and to ensure that companies remain in compliance with the rules and laws issued bythe government. With Socialite Engage, companies can maximize the business value of the use of socialchannels while minimizing risk by offering another level of control on content communicated through the socialWeb.2 #232868 ©2012 IDC

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