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Social Media Business Council Minneapolis, August 13
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Social Media Business Council Minneapolis, August 13


Building the social media marketplace in financial services.

Building the social media marketplace in financial services.

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  • 1. Marketplace 4.0 at @CMEGroup August 13, 2009 @allanschoenberg BlogWell Minneapolis
  • 2. • Agricultural Commodities • Energy • Metals • Interest Rates • Equities • Foreign Exchange • Alternative Investment Products 2
  • 3. 1.0 1848 – today - Original “crowdsourcers” 2.0 2002 – today - For profit status leads to new audiences 3.0 2004 – today - Electronic trading >50% - 85 countries 3
  • 4. 4.0 2007 - today
  • 5. If it’s news, it affects our customers. If it affects our customers, it affects us. 5
  • 6. Social Media: Strategy or Tactic? Yes Extend the benefits of our brand – innovation, service, confidence – through new channels Be a leader in financial services social media and influence opinion on what matters to us Brand enthusiasm: Turn customers into “fans” Loyalty: Improve customer service Advocacy: Build and maintain support Not a silver bullet
  • 7. Determine Where Your Customers Are… Post merger with the CBOT in October 2007 Customer run Facebook group page Engaged the creator; today we manage 7
  • 8. Then Start Giving Them Choices CME Group Fan Page created November 2008 Allows for more insight and richer content Twitter integration 8
  • 9. Then Give Them More Choices Started in October 2008 Promote our #gflc Today nearly 800,000 followers…and growing. 9
  • 10. Connect with key partners Simple use of $ and stock symbols now offers our product symbols (@StockTwits) 10
  • 11. "I ended up having one of my best days in months that night," Mr. Grisafi (President, Indiana Grain Co.) said. "It really affected me, to the sum of a large amount of money.”
  • 12. Twitter = influence Know who you follow Know your customers Use/create hashtags Create original content (#exchtalk, TwitPoll) 70/30 rule Be responsive 12
  • 13. Move Some Conversations to Private Venues Utilize LinkedIn Private Groups -Careers -Media & Bloggers -Forex -Interest Rates Authentic, transparent and safe More control 13
  • 14. Opportunities by Audience Strategy Target Create Engage Customer Customers Relevant content Responsive Relations Reputation Customers/ Explain & inform Answer questions Management influencers/media Thought Customers/ Engage in Listen and share Leadership influencers/media conversastion Sales & Customers Links Listen; give Promotion solutions Issues & Customers/ Relevant content Know your Advocacy influencers/media followers; give back Education Non-customers Interesting Opportunity; content relevance 14
  • 15. Lessons Learned Know your limits; what you can/cannot say; Focus on your Would your CEO stakeholders; approve? 70/30 rule; whatever you Guidelines Content discuss/post be prepared to respond; experiment Technologies Find the resources that fit your needs; RSS reader; TweetDeck; CoTweet;; Facebook integration; LinkedIn; Digg; Delicious 15
  • 16. What’s Next? Measure and evaluate Educate employees Integrate with traditional communications Develop and integrate SEO Implement video/audio content 16
  • 17. @allanschoenberg @CMEGroup 17