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Precedent‟s Finance Forum 2012 Integration or isolation? The digital landscape for UK financial servicesMay 2012Digital Fi...
Today• Presentations                                            8.20 - 9.15  Introduction, Rich media, Blogging and Social...
Are you                awake?Digital Finance Forum 2012   #PrecSem
Do you want to leave yet?Digital Finance Forum 2012   #PrecSem
Who are Precedent?Mark Sherwin – Commercial Director
80 experts                                     strategy & research                             branding & communications  ...
5 sectors                                    financial services                             membership organisations      ...
5 offices                                      London                                   Edinburgh                         ...
22 years                                   experience                                      quality                        ...
Digital Finance Forum 2012   #PrecSem
Digital Finance Forum 2012   #PrecSem
Digital Finance Forum 2012   #PrecSem
MEANINGFUL IDEASINTELLIGENTLY DELIVERED#PrecSemDigital Finance Forum 2012   #PrecSem
Our researchAdrian Porter – Head of Strategic Research
1998 - 2000Digital Finance Forum 2012   #PrecSem
2001-2006Digital Finance Forum 2012   #PrecSem
2007-2008Digital Finance Forum 2012   #PrecSem
2008-2010Digital Finance Forum 2012   #PrecSem
2010-2011Digital Finance Forum 2012   #PrecSem
2011Digital Finance Forum 2012   #PrecSem
2012Digital Finance Forum 2012   #PrecSem
50 finance sectorcompaniesTheir use ofdigital channelsDigital Finance Forum 2012   #PrecSem
Banks x10Building Societies x10Asset Managers x10Insurers, Life and Pensions x10Online only Financial Services x10 Digital...
Qualitative and quantitativeWho‟s using what, for what?Is it integrated and meaningful?What is best practice? Digital Fina...
Digital Finance Forum 2012   #PrecSem
...Digital Finance Forum 2012   #PrecSem
Digital Finance Forum 2012   #PrecSem
“Of course, the Web is catching on,particularly in the financial service sector.Yet, many corporations, still haven‟tunder...
Integration orisolation?Digital Finance Forum 2012   #PrecSem
Integratedchannels?Digital Finance Forum 2012   #PrecSem
Integratedteams?Digital Finance Forum 2012   #PrecSem
1.Rich mediaMark Russell – Consultant
Digital Finance Forum 2012   #PrecSem
What are they using it for? How well is it integrated? Is it working? What can we learn?Digital Finance Forum 2012   #Prec...
Digital Finance Forum 2012   #PrecSem
Digital Finance Forum 2012   #PrecSem
Discussion pointsThe corporate video is dead.Timeliness and relevance is far more important thanproduction values.Viral vi...
2. Social Media & BloggingDarren Amer - Consultant
What Why HowDigital Finance Forum 2012   #PrecSem
first direct doesn’t hirebankers, says its Head of PublicRelations, Amanda Brown, “Fromthe beginning, we wanted greatcommu...
What Why HowDigital Finance Forum 2012   #PrecSem
Marketing  Drive traffic  Raise brand awareness  Cost savingDigital Finance Forum 2012   #PrecSem
Communications    Conversations    CommunityDigital Finance Forum 2012   #PrecSem
clearingandsettlement.blogspot.com
Trust
Transparency       Explains your actions       Garner feedback       Passionate/credible       WillingnessDigital Finance ...
"Shooting in progress in Oxford Circus? What?" @TreborFlow   "Gun alert on oxford circus right now? is it true?" @HannahLi...
“compliance friendly way for             financial professionals to             actively join the dialogue.”             W...
Digital Finance Forum 2012   #PrecSem                                        84
Digital Finance Forum 2012   #PrecSem                                        85
Digital Finance Forum 2012   #PrecSem                                        86
Digital Finance Forum 2012   #PrecSem                                        87
Digital Finance Forum 2012   #PrecSem
Digital Finance Forum 2012   #PrecSem
Digital Finance Forum 2012   #PrecSem
What Why HowDigital Finance Forum 2012   #PrecSem
Be Personal (Use your own voice) Publish visual content on Facebook – the status is dead! Know your audience (#) Focused (...
Discussion pointsCurating your „competitors‟ content is a good way tomaintain a valued advantageIt is appropriate for fina...
Today• Presentations                                            8.20 – 9.15  Introduction, Rich media, Blogging and Social...
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
Seminar Part One: Integration or Isolation?
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Seminar Part One: Integration or Isolation?

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  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • MSh
  • MSh
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • In terms of 1 Recruitment and brand reputation2 throughout the student experience3 As a revenue stream
  • RM is all around us so much that we don’t really even question it any more. Youtube now a synechdoche for video in general, and that’s what we’ll be focusing on. Our report shows that most people are using video without question, but integration is lacking (as will be a theme throughout this morning)
  • http://www.youtube.com/watch?v=kEeoD2r0inE – was going to start with this exciting example of rich media use by Skandia – who wants to watch 17 minutes of terms and conditions?
  • Is this any good
  • Actually we can probably do better, and here’s three ways
  • 1/3 build trust. Internet/digital comms can make us suspicious, and in the financial sector even more so. We want to be convinced. Show them the whites of your eyes
  • Updates every morning. Nice and simple and well used (see stats)
  • https://www.youtube.com/watch?v=iMvicTIF974 banking with ING can be “as easy and enjoyable as buying a cup of coffee” (so says the CEO) – a real commitment and a real face
  • Podcasts/thought leadership from JP Morgan – minimise risk, doing business in australia. Straight from the experts.
  • 2/3 show people how to/do it yourself
  • Massive increase in how to search terms. Imagine the kind of nonsense you receive from searching “mortgages” vs “how to plan for my mortgage”. Searchers have become more sophisticated and producers are responding to that
  • Investopedia – demystifying the process
  • “Impartial” advice from Lloyds – “Mortgages explained”. This channel also promotes their brand identity and picks up on their TV campaign. But it doesn’t do this in isolation – it is one part of a wider things that generates…
  • 3/3 bees. Or buzz
  • Kiwi bank switch campaign – big budget, CoD inspired craziness, but all fully integrated and an incredibly seamless transition from rich/social media to branded transactional pages – feels like an experience, also integrates seamlessly with their facebook page to promote the experience (and custom) to your friends
  • And where you end up – fully integrated. Isn’t this a better experience than Zopa?
  • http://www.youtube.com/watch?v=m3MT59zc6Ms&list=UUW1pPkl39VQHvSUE72ayF-Q&index=8&feature=plcp– doesn’t have to be big budget investment in digital, as this interactive video from Time to Change mental health charity shows
  • http://www.youtube.com/watch?v=ZEYLalzacyU – commonwealth bank AR app interacts with newspaper ad to show features of their property guide app. Pretty flashy
  • Hello, {WHO AM I}I want to give you an overview of what social media and blogging is, why it should be important to you as well as some best practice and tips to take away.It’s a convoluted path we tread into the social world, and there is no such thing as instant success. Before I continue I too have a warning…. Not bees. Something far worse….. ZUCKERBERG!
  • In some teenage girls, a word spoken in between each word in a sentence. A meaningless word used in teen-age American speech which may indicate, among other things a gap in thinking or brain functioning; a contemporary equivalent of "uh" or "um".
  • Published Journal, normally a series of discrete entries by an individual (or small group) themed on a certain single subject.
  • Launched in 2005Internet Based Social Lending - allowing people who have money to lend it to those who wish to borrowThefirst peer-to-peer lending company and acts as the "man in the middle", facilitating the loans process. As of April 2012, Zopa had lent £190m, and over £200m by May 2012, with the total ever increasing, almost exponentially.Over 5,000 people each month
  • So as an industry, financial services should be doing a huge amount online to engage with customers, and yet as this graph shows, it is the industry that is doing the least. In 2009, only 5%of the top 100 international banks acknowledged having a proactive online presenceAnd over 50% of banks have actually banned the use of social networks at work.This, as I will go on to explain, represents an enormous missed opportunity.Source: cConsultancy Customer Engagement Report 2010
  • So as an industry, financial services should be doing a huge amount online to engage with customers, and yet as this graph shows, it is the industry that is doing the least. In 2009, only 5%of the top 100 international banks acknowledged having a proactive online presenceAnd over 50% of banks have actually banned the use of social networks at work.This, as I will go on to explain, represents an enormous missed opportunity.Source: cConsultancy Customer Engagement Report 2010
  • So as an industry, financial services should be doing a huge amount online to engage with customers, and yet as this graph shows, it is the industry that is doing the least. In 2009, only 5%of the top 100 international banks acknowledged having a proactive online presenceAnd over 50% of banks have actually banned the use of social networks at work.This, as I will go on to explain, represents an enormous missed opportunity.Source: cConsultancy Customer Engagement Report 2010
  • Really sums up the change in mindset
  • ....But which to use for what?
  • ....But which to use for what?
  • Source: The AustralianTWITTER and Facebook are emerging as the call centres of the future, as brands employ professional conversationalists to engage directly with their customers via the medium.Media giant Aegis, in a prime example of the shift in communications power to social media, has formed a division, AegisLISA, to monitor the platform and act as hired brand advocates on it.The company is hiring what it describes as "highly skilled social media conversationalists" to staff the unit.Chris Luxford, president of Aegis Australia, said the agency was putting on dozens of skilled staff to act for clients as the voice of brands in social media."A lot of organisations send out bland commentary but social media is all about personality and people don't want a canned response," said Mr Luxford, who did not disclose the division's clients. "It's also about being proactive rather than reactive."Research suggests that consumers are becoming more attuned to seeking answers about issues with brands through social media, rather than navigating their way through a call centre phone menu.Julian Ward, managing director of social media specialist agency We Are Social, said the provision of the service was central to the new breed of social media agencies now appearing."It's a role that we perform for many of our clients, like an advertising agency might produce communications for their clients," Mr Ward said.But he said so-called conversational marketing was a fine balance between merely answering questions and providing a more engaged relationship with consumers."The ability to actually maintain attention with a consumer is immensely valuable, especially when other channels are less able to do this," he said."The challenge is crafting a content and editorial strategy that holds value and continues to intrigue and engage those on the receiving end. As a brand, do you want to answer customer questions or do you want to be the most talked about and engaged brand within your category?"James Griffin, co-founder of social media specialist SR7, said the opportunities of engaging with customers instantly via social media outweighed the risks.Social media allowed companies to reduce the need for customers to use call centres for simple issues. They also engaged customers to help one another, a model already adopted by computer giant HP."I think it is a brilliant insight into what the future is going to look like," Mr Griffin said."If you address a concern on Twitter or Facebook, you don't have to answer that call 10 times in a row in a call centre."Recent research by KPMG suggests that the ASB Bank's decision to open the world's first Facebook bank has resulted in customer service costs 48 times less than a traditional call centre.The report says the perceptions of social media's effectiveness was massively below the actual outcomes for relationship cultivation and public profile.
  • Blog is your opportunity to put your best foot forward - show yourself in the best light And get the benefits of Search Engine Marketing.Brand Building.Competitive Differentiation.Relational Marketing.Exploit the Niches.Media & Public Relations.Position You as an Expert.Reputation Management.All at a low cost
  • Twitter requires a different mindset- Openness Transparency Conversational (not sales first)
  • Robert Phillips – Edelmen/Reuters 2010Should Trust appear on your balance sheet?
  • ....But which to use for what?
  • http://thefinancialbrand.com/21626/wedbush-securities-approves-social-media-for-all-staff/
  • www.mallowstreet.com is a community for pension fund trustees, corporate sponsors, pensions managers, secretaries, actuaries and consultants. Through online connections, blogs, forums, videos and resource libraries, mallowstreet brings this community together with the providers of products and services to pension funds
  • Transcript of "Seminar Part One: Integration or Isolation?"

    1. 1. Precedent‟s Finance Forum 2012 Integration or isolation? The digital landscape for UK financial servicesMay 2012Digital Finance Forum 2012
    2. 2. Today• Presentations 8.20 - 9.15 Introduction, Rich media, Blogging and Social Networks Coffee• Presentations 9.30 - 10.00 Mobile, Website innovation• Breakout discussions 10.00 - 11.30 4 x ‘15 minutes’ (musical chairs)• Effective digital strategy 11.30 - 12.00• Wrap up 12.00Digital Finance Forum 2012 #PrecSem
    3. 3. Are you awake?Digital Finance Forum 2012 #PrecSem
    4. 4. Do you want to leave yet?Digital Finance Forum 2012 #PrecSem
    5. 5. Who are Precedent?Mark Sherwin – Commercial Director
    6. 6. 80 experts strategy & research branding & communications user centred design development & hosting digital marketingDigital Finance Forum 2012 #PrecSem
    7. 7. 5 sectors financial services membership organisations third sector education healthDigital Finance Forum 2012 #PrecSem
    8. 8. 5 offices London Edinburgh Cardiff Melbourne PerthDigital Finance Forum 2012 #PrecSem
    9. 9. 22 years experience quality stability loyalty resultsDigital Finance Forum 2012 #PrecSem
    10. 10. Digital Finance Forum 2012 #PrecSem
    11. 11. Digital Finance Forum 2012 #PrecSem
    12. 12. Digital Finance Forum 2012 #PrecSem
    13. 13. MEANINGFUL IDEASINTELLIGENTLY DELIVERED#PrecSemDigital Finance Forum 2012 #PrecSem
    14. 14. Our researchAdrian Porter – Head of Strategic Research
    15. 15. 1998 - 2000Digital Finance Forum 2012 #PrecSem
    16. 16. 2001-2006Digital Finance Forum 2012 #PrecSem
    17. 17. 2007-2008Digital Finance Forum 2012 #PrecSem
    18. 18. 2008-2010Digital Finance Forum 2012 #PrecSem
    19. 19. 2010-2011Digital Finance Forum 2012 #PrecSem
    20. 20. 2011Digital Finance Forum 2012 #PrecSem
    21. 21. 2012Digital Finance Forum 2012 #PrecSem
    22. 22. 50 finance sectorcompaniesTheir use ofdigital channelsDigital Finance Forum 2012 #PrecSem
    23. 23. Banks x10Building Societies x10Asset Managers x10Insurers, Life and Pensions x10Online only Financial Services x10 Digital Finance Forum 2012 #PrecSem
    24. 24. Qualitative and quantitativeWho‟s using what, for what?Is it integrated and meaningful?What is best practice? Digital Finance Forum 2012 #PrecSem
    25. 25. Digital Finance Forum 2012 #PrecSem
    26. 26. ...Digital Finance Forum 2012 #PrecSem
    27. 27. Digital Finance Forum 2012 #PrecSem
    28. 28. “Of course, the Web is catching on,particularly in the financial service sector.Yet, many corporations, still haven‟tunderstood the opportunities that lie in sales,marketing and customer services – in fact inalmost every area of their activities”Adrian Porter - Porter Research - 1998Digital Finance Forum 2012 #PrecSem
    29. 29. Integration orisolation?Digital Finance Forum 2012 #PrecSem
    30. 30. Integratedchannels?Digital Finance Forum 2012 #PrecSem
    31. 31. Integratedteams?Digital Finance Forum 2012 #PrecSem
    32. 32. 1.Rich mediaMark Russell – Consultant
    33. 33. Digital Finance Forum 2012 #PrecSem
    34. 34. What are they using it for? How well is it integrated? Is it working? What can we learn?Digital Finance Forum 2012 #PrecSem
    35. 35. Digital Finance Forum 2012 #PrecSem
    36. 36. Digital Finance Forum 2012 #PrecSem
    37. 37. Discussion pointsThe corporate video is dead.Timeliness and relevance is far more important thanproduction values.Viral video is not a realistic campaign strategy forfinance companies.Digital Finance Forum 2012 #PrecSem
    38. 38. 2. Social Media & BloggingDarren Amer - Consultant
    39. 39. What Why HowDigital Finance Forum 2012 #PrecSem
    40. 40. first direct doesn’t hirebankers, says its Head of PublicRelations, Amanda Brown, “Fromthe beginning, we wanted greatcommunicators who could betaught how to bank.”
    41. 41. What Why HowDigital Finance Forum 2012 #PrecSem
    42. 42. Marketing Drive traffic Raise brand awareness Cost savingDigital Finance Forum 2012 #PrecSem
    43. 43. Communications Conversations CommunityDigital Finance Forum 2012 #PrecSem
    44. 44. clearingandsettlement.blogspot.com
    45. 45. Trust
    46. 46. Transparency Explains your actions Garner feedback Passionate/credible WillingnessDigital Finance Forum 2012 #PrecSem
    47. 47. "Shooting in progress in Oxford Circus? What?" @TreborFlow "Gun alert on oxford circus right now? is it true?" @HannahLisaGreen “Gunman loose in Oxford Circus?” @StephAldrich “PLEASE RETWEET - Police say incident on Oxford Circus/ St is a rumour started by someone.... #Idiot” @jamie_shepherdDigital Finance Forum 2012 #PrecSem
    48. 48. “compliance friendly way for financial professionals to actively join the dialogue.” Wedbush hopes to humanize and avoid “industry-standard canned responses”Digital Finance Forum 2012 #PrecSem
    49. 49. Digital Finance Forum 2012 #PrecSem 84
    50. 50. Digital Finance Forum 2012 #PrecSem 85
    51. 51. Digital Finance Forum 2012 #PrecSem 86
    52. 52. Digital Finance Forum 2012 #PrecSem 87
    53. 53. Digital Finance Forum 2012 #PrecSem
    54. 54. Digital Finance Forum 2012 #PrecSem
    55. 55. Digital Finance Forum 2012 #PrecSem
    56. 56. What Why HowDigital Finance Forum 2012 #PrecSem
    57. 57. Be Personal (Use your own voice) Publish visual content on Facebook – the status is dead! Know your audience (#) Focused (what‟s really important) Zzzzzzzzz....... Interesting, useful & timely Blogs should be quick to read (400 – 1,000 words) Enable a community (Question, listen & interact) Through all your media Make your cover photo on Facebook stand out and say something On Facebook add calls to action in the tabsDigital Finance Forum 2012 #PrecSem
    58. 58. Discussion pointsCurating your „competitors‟ content is a good way tomaintain a valued advantageIt is appropriate for financial services firms to engageaudiences on FacebookNiche/Boutique social networks will become morerelevant than mainstream networksDigital Finance Forum 2012 #PrecSem
    59. 59. Today• Presentations 8.20 – 9.15 Introduction, Rich media, Blogging and Social Networks Coffee• Presentations 9.30 - 10.00 Mobile, Website innovation• Breakout discussions 10.00 - 11.30 4 x ‘15 minutes’ (musical chairs)• Effective digital strategy 11.30 - 12.00• Wrap up 12.00Digital Finance Forum 2012 #PrecSem
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