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

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Slides of my presentation at Essentials' "Social Congres Sociale Netwerken" in Rotterdam (22nd April 2009)

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

  1. 1. Christophe Langlois @ www.Visible-Banking.com Social Media: People First! Focus on Engaging with your Members April 2009
  2. 2. Visible-Banking.com: 100% Social Media <ul><li>Visible-Banking.com (created in February 2007) </li></ul><ul><li>Stats (March 2009) </li></ul><ul><ul><li>750+ rss feed readers </li></ul></ul><ul><ul><li>350+ posts </li></ul></ul><ul><ul><li>60+ video interviews </li></ul></ul><ul><ul><li>15+ events covered </li></ul></ul><ul><li>The Visible Banking Page on Facebook (created in August 2008) </li></ul><ul><li>Stats (March 2009) </li></ul><ul><ul><li>280+ fans </li></ul></ul><ul><ul><li>80+ posted items </li></ul></ul>
  3. 3. Visible-Banking.com: Exclusive Content Source: www.Visible-Banking.com (February 2009) Interviews Slides Directory
  4. 4. 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 &quot;the&quot; 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
  5. 5. <ul><li>How BIG </li></ul><ul><li>Is Social Media ? </li></ul>
  6. 6. 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
  7. 7. 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
  8. 8. Banks & Social Media? “Yes We Can!” http://twitter.com/BarackObama
  9. 9. 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
  10. 10. Dell: the Most Engaging 2.0 Company http://en.community.dell.com/ Community & Conversations Team
  11. 11. <ul><li>Definition </li></ul><ul><li>Social Media? </li></ul><ul><li>Web 2.0? </li></ul>
  12. 13. 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
  13. 14. ROI(s) 2.0: Blogging, SN, PFM and Ideas <ul><li>Blogging </li></ul><ul><ul><li>Drive Customer & Employee Advocacy </li></ul></ul><ul><ul><li>Drive natural search, increase CTR, reduce PPC </li></ul></ul><ul><ul><li>Increase share of voice, improve good vs bad ratio </li></ul></ul><ul><li>Social Networking / Customer Reviews… </li></ul><ul><ul><li>Increase propensity to buy, shorten product purchase cycle </li></ul></ul><ul><ul><li>Create P-2-P networks, excellent for profiling </li></ul></ul><ul><li>Personal Financial Management (PFM) </li></ul><ul><ul><li>Increase adoption of Internet Banking </li></ul></ul><ul><ul><li>Increase traffic to & time spent on Internet Banking </li></ul></ul><ul><ul><li>Target duo customers </li></ul></ul><ul><li>Idea Generation / Innovation Labs </li></ul><ul><ul><li>R&D: capture feedback, involve the market </li></ul></ul><ul><ul><li>Prioritize product launches, increase your success rate </li></ul></ul>Online Sales Online Marketing Brand Customer Advocacy Employee Advocacy Benefits
  14. 15. 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
  15. 16. Recommendations <ul><li>Don’t reinvent the wheel Tap popular social media sites & white label a platform </li></ul><ul><li>Be different: People 1 st Innovate and focus on People, not Technology </li></ul><ul><li>Make it easy To register, contribute, share, spread the word </li></ul><ul><li>Reward your Members Exclusive content, visibility, entertainment, contests </li></ul><ul><li>Spend Wisely & Identify Right Success Criteria </li></ul>
  16. 17. Social Media? People First! <ul><li>Internally </li></ul><ul><ul><li>subject matter experts, social media champions, senior management, employees, community managers </li></ul></ul><ul><li>Externally </li></ul><ul><ul><li>contributors, detractors, advocates, clients, prospects, prominent bloggers </li></ul></ul>Recommended: Interview with Matt Flannery, Founder & CEO of Kiva.org on Visible-Banking.com
  17. 18. Make it Simple and Easy www.addthis.com SHARE CONTRIBUTE REGISTER http://code.google.com/apis/opensocial/
  18. 19. The Key to Success: Reward Your Users Successful Social Media Initiatives, Buzz & WOM Active Communities Fun / Experience Visibility Exclusive Content Contest / Prizes
  19. 20. Smart Marketing: RaboDirect.ie http://www.rabodirect.ie/ Public / B-to-C
  20. 21. A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN LEARN
  21. 22. 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
  22. 23. 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)
  23. 24. A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN LISTEN
  24. 25. Listen, Watch Trends, and Measure
  25. 26. Searches: Generic vs Very Specific http://search.twitter.com (01-Apr-09 @ 6:33pm)
  26. 27. Identify Your Influencers – Onch! http://search.twitter.com (02-Apr-09 @ 4:40pm) x x
  27. 28. Onchmovement is Influential http://www.myspace.com/onchmovement
  28. 29. A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN PARTICIPATE
  29. 30. Start Building Your Community Now Your First Goal: Reach a Critical Mass of Users! http://twitter.com/Ask_WellsFargo http://twitter.com/wellsfargo
  30. 31. Banking on YouTube
  31. 32. FNB Premier Banking on Facebook http://tinyurl.com/d5tgcm Public / B-to-C
  32. 33. A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN ENGAGE
  33. 34. Advanta: an Ambassador for the Sector Sources: www.advanta.com , www.ideablob.com , www.bloblive.com
  34. 35. Wells Fargo’s ‘The Student LoanDown’ CONTRIBUTORS FINANCING AND COLLEGE EDUCATION Public / B-to-C
  35. 36. FNBO Direct’s PayYourselfFirst Challenge http://www.pyfchallenge.com/ SOCIAL MEDIA REWARDING
  36. 37. BoA – an Ambassador for the Sector http://www.monarchinnovationawards.com/ http://smallbusinessonlinecommunity.bankofamerica.com/index.jspa Public / B-to-B
  37. 38. A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN MEASURE
  38. 39. Banking is different from Dancing http://www.youtube.com/watch?v=dMH0bHeiRNg 117,000,000+ views
  39. 40. Traffic is Not the Only Success Criteria http://siteanalytics.compete.com/blogs.wellsfargo.com/?metric=uv#
  40. 41. Managing Expectations -> First 6 posts avg 15 comments -> Now avg 5 comments
  41. 42. Young & Free in Alberta http://www.slideshare.net/CurrencyTim/designing-a-social-computing-strategy-to-attract-gen-yers
  42. 43. How to Make your Platform Profitable http://www.livingyoungandfree.com/ A White Label Approach: don’t Reinvent the Wheel!
  43. 44. A Phased Approach to Social Media IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN IMPROVE
  44. 45. Wells Fargo 2.0: Create Emotions Source: www.blog.wellsfargo.com
  45. 46. <ul><li>Social Media </li></ul><ul><li>From </li></ul><ul><li>ING, Rabobank, </li></ul><ul><li>ABN AMRO, Fortis </li></ul>
  46. 47. Rabobank BLOGGING SOCIAL NETWORKING TWITTER VIDEO
  47. 48. Rabobank’s Videos: Hosted vs YouTube http://www.rabosport.nl/ 781 Rabosport: no comments YouTube: reach, google, easy to share
  48. 49. Smart Marketing: RaboPlus.au.com http://www.raboplus.com.au/ Public / B-to-C
  49. 50. Fortis Bank’s Join2Grow.biz http://Visible-Banking.com/2007/09/adtech-london-4.html 02/2007 – 03/2009 <ul><li>“ 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.” </li></ul>
  50. 51. ABN AMRO Support the SMEs Collaboration
  51. 52. ING & ING Direct ING DIRECT ING
  52. 53. Recommendations <ul><li>Don’t reinvent the wheel Tap popular social media sites & white label a platform </li></ul><ul><li>Be different: People 1 st Innovate and focus on People, not Technology </li></ul><ul><li>Make it easy To register, contribute, share, spread the word </li></ul><ul><li>Reward your Members Exclusive content, visibility, entertainment, contests </li></ul><ul><li>Spend Wisely & Identify Right Success Criteria </li></ul>
  53. 54. Thanks for Listening – Contact Us <ul><li>I </li></ul><ul><li>Christophe Langlois </li></ul><ul><ul><li>Cell: 0044 (0)7736 446 357 </li></ul></ul><ul><ul><li>Email: [email_address] </li></ul></ul><ul><ul><li>Linkedin: www.linkedin.com/in/christophelanglois </li></ul></ul><ul><ul><li>Visible Banking: www.Visible-Banking.com/christophelanglois.html </li></ul></ul>IMPROVE MEASURE ENGAGE PARTICIPATE LISTEN LEARN Subscribe Become a FAN Follow us
  54. 55. Christophe Langlois @ www.Visible-Banking.com Social Media: People First! Focus on Engaging with your Members April 2009

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