Christophe Langlois, Visible-Banking.com Social Media: People First! February 2009

Bahrain: the Quest for the Tree of Life

Visible Banking: 100% Social Media Visible-Banking.com (created in February 2007) Stats (January 2009) 700+ rss feed readers 350+ posts 55+ video interviews 10+ events covered The Visible Banking Page on Facebook (created in August 2008) Stats (January 2009) 220+ fans 55+ posted items

Visible-Banking.com (created in February 2007)

Stats (January 2009)

700+ rss feed readers

350+ posts

55+ video interviews

10+ events covered

The Visible Banking Page on Facebook (created in August 2008)

Stats (January 2009)

220+ fans

55+ posted items

Visible-Banking.com: Exclusive Content Source: www.Visible-Banking.com (February 2009) Interviews Slides Directory

VB Services: Social Media for Banks Sources: endorsements, www.linkedin.com/in/christophelanglois services, www.Visible-Banking.com/visible-banking-services-20.html “ Christophe seems to have his finger on the pulse of the financial services industry. Visible Banking has become "the" source of information for innovations in the financial services industry.” Tim Collins, SVP-Experiential Marketing, Wells Fargo “ Christophe has written a very valuable and in-depth analysis of the site Fortis launched for entrepreneurs, join2grow.biz. He maintains a superb site, visible-banking.com, where he educates us with real passion on web2.0 initiatives. It was a real pleasure to meet Christophe in real live, and I can recommend everyone in the banking industry with plans to launch a web 2.0 site to contact Christophe to discuss their idea.” Catherine Ossemerct, head of media-channels, Fortis “ Christophe is an industry leader and a true visionary. I've been reading his work for some time and had the pleasure of working with him at the Marcus Evans Online Retail Banking Services conference. Christophe served as the conference chair. He masterfully led the two-day event keeping attendees engaged and focused. His sharing of keen insight, opinion and direct connections to leading industry members was exceptionally valuable.” Michael Neil, Vice President, Online Strategy, Merrill Lynch Bespoke Internal Workshops – Executives Briefings & Discovery Sessions Social Media: Strategy – Audit – Balance ScoreCard Hands-on International Social Media Seminars for Financial Institutions

Social Media Will Support Your Strategy Customer Advocacy Employee Advocacy New Income Efficiencies

Customer Advocacy

Employee Advocacy

New Income

Efficiencies

Key Challenges & Concerns Where shall we start? What is going on in the market? Tactical vs Strategic Senior Management is reluctant Risk of brand damage Where is the ROI? How do we measure success? Limited budget & IT resources Security / Integration Web agencies don’t have a deep understanding of Banking Too many vendors/Start ups: young, size, US based, SLA Procurement Strategy ROI Technology

Where shall we start? What is going on in the market?

Tactical vs Strategic

Senior Management is reluctant

Risk of brand damage

Where is the ROI?

How do we measure success?

Limited budget & IT resources

Security / Integration

Web agencies don’t have a deep understanding of Banking

Too many vendors/Start ups: young, size, US based, SLA

Procurement

How much do you know?

How much

do you know?

The Future of Online Finance... Now 850,000+ users + World Economic Forum 2.5million+ users 10 new videos / day The next way to invest Launches Ace Manager J2G is 2 Closes US office Partners with ANZ Launches BlobLive

How much do you care? should you care?

How much

do you care?

Appreciate the Power of Social Media Myfuturebank.org - NAB, Australia (October 2008) Facebook.com - HSBC, UK (June 2007)

People’s Expectations Have Changed

Shall We Embrace Social Media?... Credit crunch Limited trust New customer expectations The power has shifted Limited IT & marketing budget Transformation programmes and iconic projects Strategy - towards Customer Advocacy … where shall we start? Transparency Show we have a soul Customer Advocacy

Credit crunch

Limited trust

New customer expectations

The power has shifted

Limited IT & marketing budget

Transformation programmes and iconic projects

Strategy - towards Customer Advocacy

… where shall we start?

Social Media

Social Media

11 “Good” Reasons Against Social Media Credit Crunch We have already tried! UGC is too risky No clear ROI Limited Marketing budget, limited resources Only good for small FIs and direct banks The mighty Press Office and L&C departments Personal branding: risk of loosing our best people Our new online channel will deliver everything... Intranet 2.0: confidential documents made visible Focus on the basics: single view of the customer... Source: www.Visible-Banking.com/banking_20_vnews/index.html (August 2008)

Credit Crunch

We have already tried!

UGC is too risky

No clear ROI

Limited Marketing budget, limited resources

Only good for small FIs and direct banks

The mighty Press Office and L&C departments

Personal branding: risk of loosing our best people

Our new online channel will deliver everything...

Intranet 2.0: confidential documents made visible

Focus on the basics: single view of the customer...

Source: www.Visible-Banking.com/banking_20_vnews/index.html (August 2008)

Definition Social Media? Web 2.0?

Definition

Social Media?

Web 2.0?

Banking 2.0: Technologies & Trends Inspired by the McCann Social Media Tracker Wave .3 SOCIAL MEDIA WEB 2.0 - UGC RSS Podcasts Photo & Video Widgets Micro Blogging Blogging Social Networking Virtual Worlds P-to-P Lending PFM Customer Reviews Ideas & Innovation Labs

The Four Kinds of Social Media Projects BTF – Intranet 2.0 Online Banking B-to-B projects B-to-C projects Risk Complexity OPEN Open Restricted Restricted Design & Launch Recruit Engage Measure

Market Size - from the Research Firms “ 26% of search results link to user-generated content.” Nielsen BuzzMetrics “ More Americans will turn to online person-to-person (P2P) social lending networks to pay off credit card debt, with the amount borrowed for this purpose expected to grow from $38 billion in 2007 to $159 billion by 2012.” Javelin Research & Strategy, December 07 “ By 2010, social-banking platforms will have captured 10% of the available market for retail lending and financial planning.” Gartner, February 08 “ Enterprise spending on Web 2.0 technologies will grow strongly over the next five years, reaching $4.6 billion globally by 2013.“ Forrester, April 08

“ 26% of search results link to user-generated content.” Nielsen BuzzMetrics

“ More Americans will turn to online person-to-person (P2P) social lending networks to pay off credit card debt, with the amount borrowed for this purpose expected to grow from $38 billion in 2007 to $159 billion by 2012.” Javelin Research & Strategy, December 07

“ By 2010, social-banking platforms will have captured 10% of the available market for retail lending and financial planning.” Gartner, February 08

“ Enterprise spending on Web 2.0 technologies will grow strongly over the next five years, reaching $4.6 billion globally by 2013.“ Forrester, April 08

Gartner: Most Companies will Fail... Business are going to have to adopt social media campaigns to interact and communicate with customers. over 60% of online Fortune 1000 companies will have connected with or developed an online community by 2010. over 50% of companies that develop a social media campaign will fail, potentially having a negative effect on their brand. “ [Businesses] will rush to the community and try to connect, but essentially they won't have a mutual purpose, and they'll fail." Source: Gartner Research (October 2008)

Business are going to have to adopt social media campaigns to interact and communicate with customers.

over 60% of online Fortune 1000 companies will have connected with or developed an online community by 2010.

over 50% of companies that develop a social media campaign will fail, potentially having a negative effect on their brand.

“ [Businesses] will rush to the community and try to connect, but essentially they won't have a mutual purpose, and they'll fail."

Source: Gartner Research (October 2008)

Social Media is all about people! Internally subject matter experts, social media champions, employees, community managers, editors Externally contributors, detractors, advocates, clients, prospects, prominent bloggers Recommended: Interview with Matt Flannery, Founder & CEO of Kiva.org on Visible-Banking.com

Internally

subject matter experts, social media champions, employees, community managers, editors

Externally

contributors, detractors, advocates, clients, prospects, prominent bloggers

The Key to Success: Reward People Successful Social Media Initiatives, Buzz & WOM Active Communities Fun / Experience Visibility Exclusive Content Contest / Prizes

Turn your employees into Rockstars! Identify your employees passions and expertise Give them visibility, your clients will relate to them They will feel special & proud to work for your bank Increase your Employee Advocacy and Retention Attract the most talented individuals

Identify your employees passions and expertise

Give them visibility, your clients will relate to them

They will feel special & proud to work for your bank

Increase your Employee Advocacy and Retention

Attract the most talented individuals

Learn Listen Participate Engage Measure

Learn

Listen

Participate

Engage

Measure

Recommendations Learn - work with a subject matter expert Identify the best practices in banking Organize internal workshops Listen first Monitor online reputation, risk of brand dilution, and lack of ownership Create company pages on major social media sites Avoid brand jacking, go local, employees/champions Start where it makes sense Blog, social network, customer reviews, virtual island Do it right: be honest & transparent Drive recruitment, engage, REWARD Measure & set up realistic targets Traffic, Member base, activity, rss feed readers Negative comments: from 75% to 22% ? Source: www.YouTube.com (Sep 2008)

Learn - work with a subject matter expert

Identify the best practices in banking Organize internal workshops

Listen first

Monitor online reputation, risk of brand dilution, and lack of ownership

Create company pages on major social media sites

Avoid brand jacking, go local, employees/champions

Start where it makes sense

Blog, social network, customer reviews, virtual island

Do it right: be honest & transparent

Drive recruitment, engage, REWARD

Measure & set up realistic targets

Traffic, Member base, activity, rss feed readers

Listen, Watch Trends, and Measure

ROI(s) 2.0: Blogging, SN, PFM and Ideas Blogging Drive Customer & Employee Advocacy Drive natural search, increase CTR, reduce PPC Increase share of voice, improve good vs bad ratio Social Networking / Customer Reviews… Increase propensity to buy, shorten product purchase cycle Create P-2-P networks, excellent for profiling PFM Increase adoption of Internet Banking (IB) Increase traffic to & time spent on IB Target duo customers Idea Generation / Innovation Labs R&D: capture feedback, involve the market Prioritize product launches, increase our success rate Online Sales Online Marketing Brand Customer Advocacy Employee Advocacy Benefits

Blogging

Drive Customer & Employee Advocacy

Drive natural search, increase CTR, reduce PPC

Increase share of voice, improve good vs bad ratio

Social Networking / Customer Reviews…

Increase propensity to buy, shorten product purchase cycle

Create P-2-P networks, excellent for profiling

PFM

Increase adoption of Internet Banking (IB)

Increase traffic to & time spent on IB

Target duo customers

Idea Generation / Innovation Labs

R&D: capture feedback, involve the market

Prioritize product launches, increase our success rate

Blogging Social Networking

Blogging

Social Networking

Blogging: North America Leads the Way Consumer Commercial Senior Executives 03/2006 09/2006 11/2006 08/2006 2007 Q4/2007 More industry blogs: www.Visible-Banking.com/banking20-socialmedia-directory.html

Blogging Guidelines Technology / Interface Make it easy to subscribe to and spread the word Make it easy to leave a comment (capture the email address) Build it “search engines friendly” Content Be creative, find a topic of interest: don’t focus on products but emotions Post on regular basis & respond Involve your employees Be transparent and honest Don’t sell on your blog Advocay / Word of Mouth Leverage the popular social media sites like Youtube & Flickr Promote your blog smartly: intranet, internet, online banking Launch competitions (posts, videos...) Engage with the prominent bloggers Reduce Risk Publish clear guidelines Put in place a moderation process Credibility Involve your Senior Executives Invite famous guest bloggers

Technology / Interface

Make it easy to subscribe to and spread the word

Make it easy to leave a comment (capture the email address)

Build it “search engines friendly”

Content

Be creative, find a topic of interest: don’t focus on products but emotions

Post on regular basis & respond

Involve your employees

Be transparent and honest

Don’t sell on your blog

Advocay / Word of Mouth

Leverage the popular social media sites like Youtube & Flickr

Promote your blog smartly: intranet, internet, online banking

Launch competitions (posts, videos...)

Engage with the prominent bloggers

Reduce Risk

Publish clear guidelines

Put in place a moderation process

Credibility

Involve your Senior Executives

Invite famous guest bloggers

Social Networking: Focus on SME Market 02/2007 01/2008 – 08/2008 10/2007 Global survey on social networking: www.Visible-Banking.com/peoplefirst-socialnetworking.html

Advanta: an Ambassador for the Sector Sources: www.advanta.com , www.ideablob.com , www.bloblive.com

Wells Fargo 2.0: Create Emotions Source: www.blog.wellsfargo.com

Social Media: Best Practices Be original Involve your fans Make it easy to contribute Urge your members to promote your community Be seen as innovative Source: www.Visible-Banking.com/2009/01/your-new-years-resolutions-on-vancitys-changeeverything-great-way-to-drive-traffic-and-engage-with-y.html (January 2009) Source: www.youngfreealberta.com

Expectations & Success Criteria -> First 6 posts avg 15 comments -> Now avg 5 comments

PFM Virtual Worlds Customer Reviews Widgets

PFM

Virtual Worlds

Customer Reviews

Widgets

PFM 2.0: the Banks are Catching Up Banks “ It's nice to see a bank who's at least thinking about people in their 20s. That said, it's just so far from complete. Until banks provide an elegant system for pulling all your information together in one place, accurately showing your spending and cashflows so that you budget and save, and show you (objectively) ways you can save money, I'm not too worried.” Aaron Patzer, Founder & CEO, Mint.com Source: www.netbanker.com (July 2008) Start ups / Communities / Vendors

Virtual Worlds: Provide Richer Experiences 3D internet helps provide richer experience Virtual worlds are becoming part of a global communication mix Key Goals: financial education, recruitment, innovation, new product ideas & environments, customer support Key questions What is your goal? Who are you targeting? Which metaverse? - Beyond Second Life - Bring your clients into these spaces Useful Behind The Firewall (BTW) for collaboration

3D internet helps provide richer experience

Virtual worlds are becoming part of a global communication mix

Key Goals: financial education, recruitment, innovation, new product ideas & environments, customer support

Key questions

What is your goal?

Who are you targeting?

Which metaverse? - Beyond Second Life -

Bring your clients into these spaces

Useful Behind The Firewall (BTW) for collaboration

Customer Ratings & Reviews Source: db research (June 2008) Source: www.bankofamerica.com/reviews (Sep 08)

The Widget Economy is Real 23% of social network users have installed an application 18% of bloggers have installed applications in their blog templates Source: McCann, Social Media Tracker Wave .3 615 million people (65% of the worldwide Internet users) viewed or engaged with a widget Source: ComScore June 2008 Source: http://www.jwaala.com (Sep 2008) Source: www.fidelity.com (Sep 2008)

23% of social network users have installed an application

18% of bloggers have installed applications in their blog templates

Source: McCann, Social Media Tracker Wave .3

615 million people (65% of the worldwide Internet users) viewed or engaged with a widget

Source: ComScore June 2008

Learn Listen Participate Engage Measure

Learn

Listen

Participate

Engage

Measure

Q&A - Thank You for Listening I invite you to: Subscribe to www.Visible-Banking.com Join the Community on the Visible Banking Page on Facebook Contribute to the “People First!” global survey on social networking: www.Visible-Banking.com/peoplefirst-socialnetworking.html Check “Banking 2.0: The Social Media Directory”: www.Visible-Banking.com/banking20-socialmedia-directory.html Christophe Langlois Cell: 0044 (0)7736 446 357 Email: [email_address] Linkedin: www.linkedin.com/in/christophelanglois

I invite you to:

Subscribe to www.Visible-Banking.com

Join the Community on the Visible Banking Page on Facebook

Contribute to the “People First!” global survey on social networking: www.Visible-Banking.com/peoplefirst-socialnetworking.html

Check “Banking 2.0: The Social Media Directory”: www.Visible-Banking.com/banking20-socialmedia-directory.html

Christophe Langlois

Cell: 0044 (0)7736 446 357

Email: [email_address]

Linkedin: www.linkedin.com/in/christophelanglois

Christophe Langlois, Visible-Banking.com Social Media: People First! February 2009