Visible Banking - Social Media, People First (April 2009)

Christophe Langlois @ www.Visible-Banking.com Social Media: People First! Focus on Engaging with your Members April 2009

Visible-Banking.com: 100% Social Media

Visible-Banking.com (created in February 2007)

Stats (March 2009)

750+ rss feed readers

350+ posts

60+ video interviews

15+ events covered

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

Stats (March 2009)

280+ fans

80+ 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 – Balanced Scorecard Hands-on International Social Media Seminars for Financial Institutions

How BIG

Is Social Media ?

Social Networking Statistics 120 friends on average 175 million active users 41% users 26-44 years old 41 average age 38 million members 15 million active users 1.5+ billion tweets to date 103 followers on average 125 connections on average 35+ years old

Social Media: Outstanding Reach Core audience: 15-39 years old Reach: 30+ million people Reach: 11+ million people 2 nd degree – 5+ million Reach – 5.5+ million 1 st degree – 9,000 users

Banks & Social Media? “Yes We Can!” http://twitter.com/BarackObama

But Can Banks really have Fans? A fan , aficionado , or supporter is someone who has an intense, occasionally overwhelming liking and enthusiasm for a sporting club, person (usually a celebrity ), group of persons, company, product, work of art, idea, or trend . Fans of a particular thing or person constitute its fanbase or fandom . They often show their enthusiasm by starting a fan club , holding fan conventions , creating fanzines , writing fan mail , or promoting the object of their interest and attention. http://en.wikipedia.org/wiki/Fan_(aficionado) CELEBRITIES & PRODUCTS BANKS

Dell: the Most Engaging 2.0 Company http://en.community.dell.com/ Community & Conversations Team

Definition

Social Media?

Web 2.0?

Social Media: 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

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

Personal Financial Management (PFM)

Increase adoption of Internet Banking

Increase traffic to & time spent on Internet Banking

Target duo customers

Idea Generation / Innovation Labs

R&D: capture feedback, involve the market

Prioritize product launches, increase your success rate

Online Sales Online Marketing Brand Customer Advocacy Employee Advocacy Benefits

A Phased Approach to Social Media Intranet 2.0 Online Banking B-to-B projects B-to-C projects Risk Complexity IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN OPEN Open Restricted Restricted

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Don’t reinvent the wheel Tap popular social media sites & white label a platform

Be different: People 1 st Innovate and focus on People, not Technology

Make it easy To register, contribute, share, spread the word

Reward your Members Exclusive content, visibility, entertainment, contests

Spend Wisely & Identify Right Success Criteria

Social Media? People First!

Internally

subject matter experts, social media champions, senior management, employees, community managers

Externally

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

Recommended: Interview with Matt Flannery, Founder & CEO of Kiva.org on Visible-Banking.com

Make it Simple and Easy www.addthis.com SHARE CONTRIBUTE REGISTER http://code.google.com/apis/opensocial/

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

Smart Marketing: RaboDirect.ie http://www.rabodirect.ie/ Public / B-to-C

A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN LEARN

The Future of Online Finance... Now 1million users + Consultation at the White House 2.5million+ users 10 new videos / day The next way to invest Launches Ace Manager Closes US office Partners with ANZ Launches BlobLive

Visible Banking Twitter Watch 65+ twitter accounts tracked http://Visible-Banking.com/twitter/ SMART MARKETING BRANDED - PERSONAL Top 3 FIs - Followers @Wachovia (2,807), Advanta's @Ideablob (1,769) @BofA_Help (1,696) Top 3 FIs - Updates @bsantander (6,178) @BancoSabadell (2,443) @CajaNavarra (2,027) 19,946 followers (total) / 317 (average)

A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN LISTEN

Listen, Watch Trends, and Measure

Searches: Generic vs Very Specific http://search.twitter.com (01-Apr-09 @ 6:33pm)

Identify Your Influencers – Onch! http://search.twitter.com (02-Apr-09 @ 4:40pm) x x

Onchmovement is Influential http://www.myspace.com/onchmovement

A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN PARTICIPATE

Start Building Your Community Now Your First Goal: Reach a Critical Mass of Users! http://twitter.com/Ask_WellsFargo http://twitter.com/wellsfargo

Banking on YouTube

FNB Premier Banking on Facebook http://tinyurl.com/d5tgcm Public / B-to-C

A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN ENGAGE

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

Wells Fargo’s ‘The Student LoanDown’ CONTRIBUTORS FINANCING AND COLLEGE EDUCATION Public / B-to-C

FNBO Direct’s PayYourselfFirst Challenge http://www.pyfchallenge.com/ SOCIAL MEDIA REWARDING

BoA – an Ambassador for the Sector http://www.monarchinnovationawards.com/ http://smallbusinessonlinecommunity.bankofamerica.com/index.jspa Public / B-to-B

A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN MEASURE

Banking is different from Dancing http://www.youtube.com/watch?v=dMH0bHeiRNg 117,000,000+ views

Traffic is Not the Only Success Criteria http://siteanalytics.compete.com/blogs.wellsfargo.com/?metric=uv#

Managing Expectations -> First 6 posts avg 15 comments -> Now avg 5 comments

Young & Free in Alberta http://www.slideshare.net/CurrencyTim/designing-a-social-computing-strategy-to-attract-gen-yers

How to Make your Platform Profitable http://www.livingyoungandfree.com/ A White Label Approach: don’t Reinvent the Wheel!

A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN IMPROVE

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

Social Media

From

ING, Rabobank,

ABN AMRO, Fortis

Rabobank BLOGGING SOCIAL NETWORKING TWITTER VIDEO

Rabobank’s Videos: Hosted vs YouTube http://www.rabosport.nl/ 781 Rabosport: no comments YouTube: reach, google, easy to share

Smart Marketing: RaboPlus.au.com http://www.raboplus.com.au/ Public / B-to-C

Fortis Bank’s Join2Grow.biz http://Visible-Banking.com/2007/09/adtech-london-4.html 02/2007 – 03/2009

“ The site provides a platform where entrepreneurs can interact and exchange ideas with others who share similar life-goals, ambitions, and dreams . It is also a place of opportunity , where entrepreneurs can discover and make contact with potential partners and collaborators throughout Europe.”

ABN AMRO Support the SMEs Collaboration

ING & ING Direct ING DIRECT ING

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