Delivering Value throughSocial ChannelsAndrzej OlejnikChief Marketing OfficerPlatinum Bank
2Platinum Bank is…! Platinum Bank – fastest growing retailbank which operates in Ukrainian marketsince 2005 and services more than 1,5million clients! 52nd bank by asset size! Wide network of presence, nearly 200points in various formats! Launched our first internet banking in Dec.2012! Recognized for our SM activities
! 176 banks in this country! No. of citizens not growing! Attracting a client from the street is gettingharder with every day! The times comes where “throw moremarketing money at it” is not efficientThe tough reality – my view3
! And the usual suspects are the same sincea couple of years:! Mobile! Social media! Why? Because people spend time there. Weknow it.! Weird animal: it’s their second home – they“live online”! And what do they want there?! Get away from “real life”! Feeling of being connected with the peoplethey like! Fun! Fun! Fun!Naturally we look for newchannels4
What do people “vote for” in SM?52.4m views 84.3m viewsMr. Barack Obama Mishka – the talking dogGangham Style – 1,633,313,748 views“Charlie bit my finger” - 527,336,355 viewsSocial Media is mostly a party place, where people go to rest!
! We go in – we advertise! Fixing theproblems they want to forget about!! That doesn’t work so - we feel the needto provide value!! We post about money and finance! We provide “financial advice”! We offer “social branches” where youcan chat! And we get surprised that we failSo what do we go to the partywith?6
Can we beat Mishka?759,014 fans358,808 fansTop 5. SMM UkrainianbanksMishka – the talking dogMishka’s SMM marketing budget:
! Because what sells in SMM is entertainmentand discounts. And I have a hard time findinganother industry which would be so far fromentertainment as banking.! People very often go social to run away fromthe stuff we are selling!! So the solution is to:! Be funny bankers! Not talk about banking! How exactly are we going to sell then?Why do we usually fail?8
There is little value for us tocreate in social media. Butthere is a lot of value createdfor us in the social media.
! What is the psychological profile ofthe Ukrainian retail customer?! He is scared! He is not used to be asked for an opinion! It takes A LOT to make him mad! He doesn’t talk much!Of course – let’s start with thecustomer10
Client use:! Friends (doesn’t matterwhat they do)! TV! Internet! Connect the dots: TV+friends + internet = SocialMedia.How do clients get the informationabout a bank?11
! Who said we have to create value / be“liked”? We can’t bring what people want.! We can’t be the popular guys… We are notfunny!! We can’t bring value, but we still have tobe invited!! There is always one anomaly on parties…! The “chubby girl strategy”But hold on…12
13! Social media gives the people the quiet optionto complain! Gives them direct access to “experts”! Gives them an option to talk to heir friendsabout anything! And for the first time ever we get to listen inif we act properly!! If we are nice: we can identify the “experts”and convert them to ambassadors!How does it all start makingsense?
14! Value of talking! Platinum Bank got 2,472 fans over 3years and spending! And we don’t know if they converted! Value of listening! 10,671 free, unsolicited, honest opinions! 1,220,751 people watched thosediscussions and made their decisions! 3m USD worth of focus groupsListen vs. talk
! Much more listener then talkers! 1 out of 160 talk! And they are usually very“problematic” / attention freaks! What do we usually do?! Try to silence them! Channel their “anger”But not everyone talks – “experts”do!15
! You can’t change him! But you can changehis message!! If you convert he will:! Write about you! He will FIGHT for you! He will create leads. QUALITY leads.! He will cost you NOTHING! People listen to him – he is authentic!What if – we encouraged him?16
17So what do we do?Angry client who didn’treceive a good answerin our branchHappy client whoreceived anexplanation from thebank through theforum
18But what if we go further?! When we were launching our internet bank– we knew there is going to be tons ofproblems!! What did we do?! We found the most active members, themost “hated” clients and asked them tospeak up! We even gave them a symbolic tool to belouder!
! A very negative letter with clear threatsto make negative publications about thebank in mass media! What do we get:! A very negative letter with clearthreats to make negative publicationsabout the bank in mass media! 323 discussion participants – manypress representatives! Hot discussion on the edge of conflict! BUT! The brand advocates tuned in +good communicationDid it work?19
Other takeaways! Don’t mistake “fans” forfriends! You can’t talk before you listen– if you do, spending moneyon social will be money spenton your own black PRLonger term results?20Size Facebook "fans" Comments ViewsComments / 1k viewsLovers / hatersPlatinum 1x 2 472 10 617 1 220 751 8,70 63%Competitor 1 7.2x 854 5 395 857 189 6,29 -‐13%Competitor 2 8.3x 21 121 4 967 1 203 893 4,13 -‐3%Competitor 3 9.4x 10 683 32 979 4 732 762 6,97 5%"The giant" 48x 23 884 15 614 3 146 742 4,96 -‐85%Lessons for Platinum Bank! Most active clients!! Most friendly tone of voice!63% more lovers then haters!! Internet helps you reduce sizedifferences!! Social Media = positive valuefor Platinum Bank
! Platinum Bank becomes one of the TOP-10 bankswith its credit portfolio for individuals in UAH! Ukrainian Banker Awards 2012:! BEST DEPOSIT PRODUCT – first place! BEST RETAIL BANK – second place! THE MOST INNOVATIVE BANK – second place.! 4th place in the rating of the most electronic banks ofUkraine according to “Investgazeta”.! The E-WIN-2012 award, within the framework of All-Ukraine Forum for Internet Marketing, for activepresence in social networks!! Share of clients sourced based on referrals: 18%! The only bank in the list of “Companies thatinspire” (Korrespondent)! One of the most profitable banks on the marketAchievements21
22My lessons learned! There is tremendous value forus in SMM as source ofinformation! Providing value in social mediaas banks is extremely hard: weare not dressed for that party!! Be the chubby girl: Listen muchmore then talk!! If you want to influence do it
Thank you for your attention!Andrzej OlejnikChief Marketing OfficerPlatinum Bank