The numbers reveal: Is Social Media another fad or is it here to stay? Dr. Benedikt Köhler, Munich
Yet another fad?
Or here to stay?
What is Social Media? „ A variety of digital media and technologies that enable users to exchange among themselves and cre...
Communication and banking via Social Media?
Communication and banking via Social Media?
Communication and banking via Social Media?
Banks used to be like this: Big is beautiful
Banks used to be like this: Walls & Fortresses
Banks used to be like this: Fake conversations
Banks used to be like this: Complex products
Banks used to be like this: Talk = Sales
Banks used to be like this: Behind counters
Social Media is going to change this! <ul><li>Social Media means: The whole Internet is becoming social </li></ul><ul><ul>...
The future of Social Media <ul><li>„ 1990–2004 was the match being struck;  2005–2009 was the fuse; and 2010 will be the e...
It´s getting bigger <ul><li>25% of search results  for the world’s top 20 largest brands are links to  user-generated  con...
Internet growing as fast as TV did
Social Media – importance for companies  <ul><li>Far-reaching implications:  </li></ul><ul><li>Providing the  information ...
Users are looking for product information
5 Dimensions of Corporate Social Media Corporation 2.0 Social Media Newsroom Corporate Blog Brand Monitoring Real-Time Sup...
Social Media - challenges for finance <ul><li>In the U.S. the  trust in banks decreased  from 69% to 36% </li></ul><ul><li...
People don’t trust bankers
People trust their peers – online!
Consumers 2.0 – Sapere aude „ Banks sell what‘s most profitable for them … Really good deals can only be found on the web ...
Finance – between tourism and fashion
Sparkasse with largest buzz in Social Media
Word of mouth can be positive … Friendliness  Good Service  Security  Good Interest Rates
…  or negative Failure  Technical System Error  No Money Transfer   Disguise  Mysterious  Not Executed
…  or “interesting”
New Conversational Landscape: Homepages
New Conversational Landscape: General Interest
New Conversational Landscape: Special Interest
From Mass society to Individualization
2 out of 3 German onliners use Social Media
More than 90% of teenagers use Social Media
Strongest growth in generation 60+
Social Networking more popular than Email
Online is a primetime medium … today!
16% of banks are active in Social Media …
…  whatever „active“ means
Après moi, le déluge
What are the caveats? <ul><li>58% are nervous about potential compliance problems. </li></ul><ul><li>45% don‘t understand ...
Wishes and needs of digital natives <ul><li>48% of Facebook users between the ages of 18-34 would use  secure gadgets  if ...
Social Media means a shift from Brands …
…  to faces …
…  and stories!
Finance in Social Media – Examples <ul><li>Mint  has over 20.000 Followers  on Twitter … </li></ul><ul><li>… and is in  di...
Finance in Social Media – Examples <ul><li>Missouri Bank  provides   a  Facebook-  Fanpage </li></ul>
Finance in Social Media – Examples <ul><li>Wells Fargo  is hosting different  blogs … </li></ul><ul><li>And even… </li></ul>
Finance in Social Media – Examples <ul><li>…  their own  virtual world : Stagecoach Island </li></ul><ul><li>…  where you ...
Finance in Social Media – Examples <ul><li>Social Media users elude banks  and begin to lend money to each other – directl...
Social Media is not for everyone
Next Steps … <ul><li>Charting your company’s  Social Media Landscape  with a full survey of all channels and platforms </l...
Thank you very much! Questions? More information: http://www.ethority.de
ethority GmbH & Co. KG Büschstr. 7 (Ecke Gänsemarkt) 20354 Hamburg    +49 (0) 40 - 300 699 80 [email_address] www.ethorit...
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Dr. Benedikt Köhler - The Numbers reveal: Is Social Media/web2.0 another fad or is it here to stay?

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International research on the current revolutionary media trends and an outline to the new ground rules corporations now have to learn.
Dr. Benedikt Köhler - Director Digital Strategy & Research, Ethority

More: http://somesso.com/blog/2009/11/social-media-is-here-to-stay/

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  • Dr. Benedikt Köhler - The Numbers reveal: Is Social Media/web2.0 another fad or is it here to stay?

    1. 1. The numbers reveal: Is Social Media another fad or is it here to stay? Dr. Benedikt Köhler, Munich
    2. 2. Yet another fad?
    3. 3. Or here to stay?
    4. 4. What is Social Media? „ A variety of digital media and technologies that enable users to exchange among themselves and create media content, individually or in community.“ 1. Presentation of self in every day online life 2. Exchange of information, opinions, experiences or emotions in real-time 3. Collaboration and creation of content
    5. 5. Communication and banking via Social Media?
    6. 6. Communication and banking via Social Media?
    7. 7. Communication and banking via Social Media?
    8. 8. Banks used to be like this: Big is beautiful
    9. 9. Banks used to be like this: Walls & Fortresses
    10. 10. Banks used to be like this: Fake conversations
    11. 11. Banks used to be like this: Complex products
    12. 12. Banks used to be like this: Talk = Sales
    13. 13. Banks used to be like this: Behind counters
    14. 14. Social Media is going to change this! <ul><li>Social Media means: The whole Internet is becoming social </li></ul><ul><ul><li>Living an online life </li></ul></ul><ul><ul><li>Feedback </li></ul></ul><ul><ul><li>Dialogue </li></ul></ul><ul><li>Social Media as a disruptive technology </li></ul>
    15. 15. The future of Social Media <ul><li>„ 1990–2004 was the match being struck; 2005–2009 was the fuse; and 2010 will be the explosion.“ (Tim O‘Reilly and John Battelle) </li></ul>
    16. 16. It´s getting bigger <ul><li>25% of search results for the world’s top 20 largest brands are links to user-generated content. </li></ul><ul><li>13 hours of video are uploaded on YouTube every minute. </li></ul><ul><li>Dell claims to have earned $ 3.000.000 via Twitter-Posts since 2007. </li></ul><ul><li>If Facebook were a country, it would be the 4th largest in the world – with 250 Mio users . </li></ul><ul><li>34% of bloggers post opinions about products and brands – in over 200.000.000 blogs. </li></ul>
    17. 17. Internet growing as fast as TV did
    18. 18. Social Media – importance for companies <ul><li>Far-reaching implications: </li></ul><ul><li>Providing the information the customers expect on social media right now! </li></ul><ul><li>Possibility of a strong customer bonding causing loyalty. </li></ul><ul><li>Combination of marketing, CRM and PR in one unit, acting simultaneously. </li></ul><ul><li>Genuine dialogue between companies, customers and other stakeholders - in real- time. </li></ul>
    19. 19. Users are looking for product information
    20. 20. 5 Dimensions of Corporate Social Media Corporation 2.0 Social Media Newsroom Corporate Blog Brand Monitoring Real-Time Support Trainee Blog Branded Channel
    21. 21. Social Media - challenges for finance <ul><li>In the U.S. the trust in banks decreased from 69% to 36% </li></ul><ul><li>72% share their dislikes with a friend or colleague. </li></ul><ul><li>(Edelman Trust Barometer 2009) </li></ul>
    22. 22. People don’t trust bankers
    23. 23. People trust their peers – online!
    24. 24. Consumers 2.0 – Sapere aude „ Banks sell what‘s most profitable for them … Really good deals can only be found on the web … I‘m doing research myself and this way I get a truly independent offering.“
    25. 25. Finance – between tourism and fashion
    26. 26. Sparkasse with largest buzz in Social Media
    27. 27. Word of mouth can be positive … Friendliness Good Service Security Good Interest Rates
    28. 28. … or negative Failure Technical System Error No Money Transfer Disguise Mysterious Not Executed
    29. 29. … or “interesting”
    30. 30. New Conversational Landscape: Homepages
    31. 31. New Conversational Landscape: General Interest
    32. 32. New Conversational Landscape: Special Interest
    33. 33. From Mass society to Individualization
    34. 34. 2 out of 3 German onliners use Social Media
    35. 35. More than 90% of teenagers use Social Media
    36. 36. Strongest growth in generation 60+
    37. 37. Social Networking more popular than Email
    38. 38. Online is a primetime medium … today!
    39. 39. 16% of banks are active in Social Media …
    40. 40. … whatever „active“ means
    41. 41. Après moi, le déluge
    42. 42. What are the caveats? <ul><li>58% are nervous about potential compliance problems. </li></ul><ul><li>45% don‘t understand social media marketing. </li></ul><ul><li>37% think it doesn‘t fit to their customers. </li></ul><ul><li>And four out of ten participating banks avoid discussing specific products and services in their social media efforts. </li></ul>
    43. 43. Wishes and needs of digital natives <ul><li>48% of Facebook users between the ages of 18-34 would use secure gadgets if their bank offered it. </li></ul><ul><li>33% of 25-34 year old Facebook users would even consider switching to another bank that offered Web 2.0 gadgets for online banking. (WorkLight – Survey) </li></ul><ul><li>37% of U.S. customers liked to have testimonials and customer reviews on their bank‘s website (Forrester) </li></ul>
    44. 44. Social Media means a shift from Brands …
    45. 45. … to faces …
    46. 46. … and stories!
    47. 47. Finance in Social Media – Examples <ul><li>Mint has over 20.000 Followers on Twitter … </li></ul><ul><li>… and is in dialogue with them by following back and answering to questions. </li></ul>
    48. 48. Finance in Social Media – Examples <ul><li>Missouri Bank provides a Facebook- Fanpage </li></ul>
    49. 49. Finance in Social Media – Examples <ul><li>Wells Fargo is hosting different blogs … </li></ul><ul><li>And even… </li></ul>
    50. 50. Finance in Social Media – Examples <ul><li>… their own virtual world : Stagecoach Island </li></ul><ul><li>… where you can „learn how to use your money wisely“ </li></ul>
    51. 51. Finance in Social Media – Examples <ul><li>Social Media users elude banks and begin to lend money to each other – directly. </li></ul>
    52. 52. Social Media is not for everyone
    53. 53. Next Steps … <ul><li>Charting your company’s Social Media Landscape with a full survey of all channels and platforms </li></ul><ul><li>Developing a strategic view of your company’s dialogical future (including Social Media Guidelines or Policies) </li></ul><ul><li>Beginning to grasp the disruptive power of Social Media Brand Building – giving the users a chance to live your brand online </li></ul><ul><li>Building strong and sustainable user experiences in Social Media </li></ul><ul><li>Experimenting with Social Media yourself by hosting Immersion Days at your company </li></ul>
    54. 54. Thank you very much! Questions? More information: http://www.ethority.de
    55. 55. ethority GmbH & Co. KG Büschstr. 7 (Ecke Gänsemarkt) 20354 Hamburg  +49 (0) 40 - 300 699 80 [email_address] www.ethority.de <ul><ul><li>Feel free to contact us! </li></ul></ul><ul><ul><li>For further information visit us: </li></ul></ul><ul><ul><ul><li>http://www.ethority.de/weblog </li></ul></ul></ul><ul><ul><ul><li>http://www.twitter.com/ethority </li></ul></ul></ul><ul><ul><ul><li>http://www.facebook.com/ethority </li></ul></ul></ul><ul><ul><ul><li>http://www.youtube.com/ethority </li></ul></ul></ul>Questions?
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