Driving Loyalty & Advocacy in Banking, Financial Services, Insurance

2,782 views

Published on

This is the presentation I delivered at Dialog Konferansen 2010 in Sweden on 23 August 2010.

I invite you to watch my short video on Visible Banking (http://bit.ly/aaK4CA) and get back to me with your questions.

Christophe (http://twitter.com/Visible_Banking)

Published in: Economy & Finance
0 Comments
4 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
2,782
On SlideShare
0
From Embeds
0
Number of Embeds
105
Actions
Shares
0
Downloads
0
Comments
0
Likes
4
Embeds 0
No embeds

No notes for slide

Driving Loyalty & Advocacy in Banking, Financial Services, Insurance

  1. 1. Building Loyalty with Social Media Banking / Financial Services / Insurance Str ö mstad, 23 August 2010
  2. 2. Pragmatic, Unbiased, Social Media Advisor Visible-Banking.com (since February 2007) Visible Banking Page (since August 2008) @Visible_Banking (since February 2009) Stats (August 2010) -> 1,2k+ rss readers -> 85+ video interviews -> 30+ events Stats (August 2010) -> 520+ fans -> 50+ videos -> 80+ posted items Stats (August 2010) -> 2,6k+ followers -> 2,8k+ updates -> 220+ listed Mission: help financial institutions across the world better UNDERSTAND and LEVERAGE social media, successfully engage with people, and build trusted relationships.
  3. 4. What’s Loyalty for a Brand? a fan, sometimes also called aficionado or supporter, is a person with a liking and enthusiasm for something. Fan is faithfulness or a devotion to a person, country, group, or cause. Loyalty in marketing, consists of a consumer’s commitment to repurchase or otherwise continue using the brand and can be demonstrated by repeated buying of a product or service or other positive behaviours such as word of mouth advocacy . Brand loyalty
  4. 5. LOYALTY = LISTEN ENGAGE INVOLVE REWARD ADVOCACY + + +
  5. 6. TRANSPARENCY
  6. 7. Still Doubting the Power of Social Media? 2 months 4,000+ members 3 weeks 420,000 views
  7. 8. Benchmarking Social Media in Finance Source: Visible-Banking.com, July 2010 220+ channel tracked 25+ countries 6,165+ videos uploaded 2,500+ comments 1,350+ accounts 60+ countries 784,680+ followers 557,800+ tweets 500+ pages / groups / apps tracked 55 countries 3.491 million fans 72.8k monthly users app 240+ blogs tracked 20 countries 1,600+ posts 2,540+ comments Banks, Central Banks, Credit Unions, Investment Management, Credit Card, Insurance
  8. 9. You Must Listen to your Influencers
  9. 10. Customer Support Excellence
  10. 11. Client Support on Twitter: Driving Advocacy
  11. 12. Wake Up Call: 92M Global Users on Twitter
  12. 13. How Much Do You Really Know About Twitter?
  13. 14. Twitter is (not only) for Celebs
  14. 15. How Would You Define Transparency?
  15. 16. Customer Reviews & Product Co-Creation * over 15,000 incremental applications for products and policies were started (in the first year). * “thousands of members have provided reviews, and USAA has used those reviews to drive product improvements, improve Web site conversion, and increase interactive marketing effectiveness.”
  16. 17. Transparency: Moderation & Control
  17. 18. Finding the Right Voice to Connect
  18. 19. Building Groups vs Building Communities
  19. 20. KYF: Know Your Followers-Fans-Following ? Following / Followers Competitors Employees Clients Journalists Consultants Bloggers Prospects
  20. 21. Mobile: Penetration & Usage Gartner: “Mobile phones will become the main source to access the Internet before PCs by 2013” 4 4.6 B: mobile subscribers 1.7 B: credit cards 1.5 B: televisions 1 B: computers Penetration Usage 12% : average response rate to a “call to action” on mobile (vs 2% for traditional media) 90% : average opening rate of texts (3x more than emails) 30mn : average opening time of a marketing message on mobile (vs 24h for an email)
  21. 22. Foursquare: Geoloc. + Comments + Reward March 2009 3m users
  22. 23. The Key to Success: Reward Your Users Successful Social Media Initiatives, Buzz & WOM Active Communities Fun / Experience Visibility Exclusive Content Contest / Prizes
  23. 24. Recommendations <ul><li>Start LEARNING & listening now! </li></ul><ul><li>Spend wisely & leverage limited resources Don’t spend much on technology, put in place the right processes </li></ul><ul><li>Be relevant: repackage & reuse existing content </li></ul><ul><li>Make it easy To register, contribute, share, spread the word </li></ul><ul><li>KYF – “Know Your Followers” </li></ul><ul><li>Reward your members & convert those contacts Exclusive content, visibility, fun / entertainment, contests 11 </li></ul><ul><li>Manage Expectations & Identify success criteria </li></ul>
  24. 25. <ul><li>Christophe Langlois </li></ul><ul><ul><li>Mobile: 0044 (0)7736 446 357 </li></ul></ul><ul><ul><li>Email: [email_address] </li></ul></ul><ul><ul><li>Linkedin: http://linkedin.com/in/christophelanglois </li></ul></ul><ul><ul><li>Twitter: http://twitter.com/visible_banking </li></ul></ul><ul><ul><li>Visible Banking: http://bit.ly/VBSpeaking </li></ul></ul>Thanks, and Now Let’s Work Together! Connecting Benchmarking Coaching Key Services Starting our Collaboration Connect Audit & Recommendations 1 KYF & Content Strategy Internal Workshop 2 3
  25. 26. Building Loyalty with Social Media Banking / Financial Services / Insurance Str ö mstad, 23 August 2010

×