The new socialisms financial services and social media pov

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A follow-up to conversations at Financial Services and Social Communications Conference in NY 11/18/10

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  • 1 Element of Social
    Help Clients
    Part of overall campaign
  • Earned- Buzz, PR, Blogging and Digital word of mouth but you can’t buy it etc
    Just 5.5% of digital spend and 1% of all media
  • The new socialisms financial services and social media pov

    1. 1. Financial Services and Social Media Paul Rapino US Director Financial Services Microsoft August 26, 2010
    2. 2. POV Overview The New Social-isms and Financial Services • Terminology • Owned-Paid-Earned • Best Practices in other industries • Compliance • Recommendations
    3. 3. Social Marketing Objectives & Terminology Earned Media Paid Media Owned Media Top Marketing Tactics for 2010: 1. E-mail marketing 2. Social networks 3. Keyword search 4. Radio 5. Magazines 6. Online display 7. Event sponsorship 8. Rich media display 9. Direct mail 10. Regional TV “The key take-away is the high and long-lasting impact of earned media… but advertisers can’t buy earned media; it has to be earned through user engagement and connections between users and brands.” Nielsen, April 2010 Total Digital Ad Spend 2010 Social Networks
    4. 4. Social Marketing On Facebook Owned Media Paid Media Earned Media Advertisers perceive Facebook offering as a comprehensive social marketing solution
    5. 5. Owned Media Brands seek to drive engagement with their page, creating a community of fans who opt in for future communications
    6. 6. Self-serve EngagementAds Paid Media Generate fans & earned media through user engagement Broadcast user engagement to friends Re-engage fan community with brand communication s
    7. 7. Country State City Age Gender Relationship Status Language Keywords Interests & Likes Education Work Connections Demographics Friends of Fans Women Age = 24-45 Dallas, TX USA Paid Media
    8. 8. Facebook ad performance for key brand metrics increases when social context is included in the ad Source: Nielsen Brand Lift + Paid Media
    9. 9. Are you sure?    Jon Gibs, VP Media Analytics, Nielsen “Creative is about 70% to 80% of the effectiveness of advertising.”
    10. 10. Are you sure?
    11. 11. Are you sure?    
    12. 12. We Are Two Complementary Publishers With Different Ad Solutions  480M Global UUs  Social Ads  Rigid, Small Ad Formats  Peripheral Ad Placements  Profile, Social, Category  Drives Engagement w/FB Page  720M Global UUs  Brand, Performance, Search, Social  Large, Rich Creative Formats  Custom Integration Opportunities  Profile, Category, Behavioral, Custom, Re-messaging  Multiple Advertiser Objectives Global UU Ad Types Formats Placement Targeting Benefits Paid Media Global UU Source: MMR
    13. 13. Examples of Social Network Usage Research Advertizing Conversation Communication Feedback Transactions Blogs Provides research on customer issues and industry trends Bankof America’s Bank of the Future Blog Wells Fargo product blogs Wells Fargo/Wachovia merger blog Citi blog on the Women & Co website Tweets Customer experience feedback Sponsored tweets JetBluerandom tweeting Bank of America and Wells Fargo customer service model Wells Fargo’s inactive account on Twitter YouTube Umpqua’s Bank of the Future Video CharlieRose interview with Citi CEO Feedbackon videos Facebook Where I’ve been – provides research for travelers Chase Community Giving Customer dialogues American Airlines provides articles targeted at women travelers Customer dialogues MySpace Citi Low Rate Credit Card advert Travelers– Get an Insurance Quote foursquare Customer GPS data
    14. 14. Metric Details Conversation Buzz Number of responses to blog postings Conversation Traffic Numbers of tweets, conversations, blog entries, communities Competitor Interest Competitor engagement, number of competitor blogs, followers, messages, conversations Audience Participation Background of respondents, age levels, location, interests, preferences, opinions and motivations Audience Responsiveness The level of responsiveness to company actions, positive or negative Topic Frequency How many times does the topic come up Topic Intensity How deeply felt are the issues around the topic. How representative do the opinions appear to Brand Sentiment Is the trend positive or negative Level of Interest How does the topic rank in relation to other issues Level of Feedback Quality of ideas and suggestions for improvements in products and services Metrics to measure Social Media
    15. 15. “Follow” 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000FollowersonTwitter
    16. 16. Innovation with Social Media and Financial Services •www.Trefis.com •In the wake of financial turmoil, MIT engineers and Wall Street analysts got together to create Trefis– Financial Tools built with Experts, company employees and Investors •Trefis is a meaningful financial community structured around TREnds, Forecasts and Insights related to some of the most popular stocks in the US. •Looks to future not past
    17. 17. Go to Finovate Conference in NYC Oct 4-5, 2010 See Financial Services Innovation Demos •www.bundle.com •Database of how consumers spend money •Compare real data from your profile •Journalists, Economists, Financial Advisors and consumers interact around real data http://www.finovate.com/fall2010/ Innovation with Social Media and Financial Services
    18. 18. MSA assets complement and extend social media campaigns on Facebook, driving more earned media than FB alone Microsoft Complements Social
    19. 19. Compliance
    20. 20. •Tools that scale − Cloud, Security, API, Adaptive Web tools − http://www.microsoft.com/industry/financialservices/solutions/default.mspx − “Save, Supervise, Scale” •Monitor − http://www.visibletechnologies.com/ − http://viralheat.com/api •Be Transparent •Communicate Footnote
    21. 21. Recommendations
    22. 22. •Comply •Monitor •Embrace •Adapt to the target audience not your products •Train •Read Financial Industry Regulatory Authority Notice “Even though social media tools provide limited space for communicating with consumers, financial marketers are responsible for making sure all necessary disclosures are properly integrated into their social media marketing initiatives. http://thefinancialbrand.com/13164/compliance-crack-down-on-social-media-coming/ Jeffry Pilcher, FinancialBrand Presentation http://www.socialturns.com/ Request Free Microsoft Whitepaper “Tweets, Blogs and Instant Relationships Social networking and the bank of the future Banking and Capital Markets” prapino@micorsoft.com Footnote
    23. 23. Thank you! Twitter.com/PaulRapino

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