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Webinar: Social Business and Financial Services, with @DachisGroup @Socialware
 

Webinar: Social Business and Financial Services, with @DachisGroup @Socialware

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Like their peers in retail and media, banks and insurance providers are going through a remarkable transition in how they engage with customers and partners through social channels like Twitter and ...

Like their peers in retail and media, banks and insurance providers are going through a remarkable transition in how they engage with customers and partners through social channels like Twitter and Facebook.

How are they performing?

In this webinar, we'll dive into the social performance of the financial services industry, including unique challenges related to compliance and privacy.

We'll look at the "Financial Health Index," a data-driven snapshot into the social performance of global financial services brands, first presented In October at Sibos Innotribe in Osaka, the world’s largest financial services conference.

Speakers:
- Michael (MJ) Jones, VP Technology, Dachis Group
- Randy Jacops, VP of Customer Success, SocialWare

For the full replay, see the link below:
http://social.dachisgroup.com/webinar-social-and-financial-services-replay

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  • Social is a remarkable opportunity for brands in two respects. First, it provides the ability to directly reach a massive audience.
  • Social is a remarkable opportunity for brands in two respects. First, it provides the ability to directly reach a massive audience.
  • And today, social campaigns are part of a brand’s daily programs. Here are a few social campaigns and brands that the Dachis Group has worked with.
  • •Social Media Network Update and Trends•Regulatory Landscape•Trends from Socialware Customers
  • For every 1,000 Advisors, this is $240 MM in AUM. $4.8 MM in Operating MarginAdditional article (that has the percentages referenced)…Financial TimesJune 24, 2012Morgan Stanley green light for TwitterBy Tracy Alloway in New YorkMorgan Stanley Smith Barney will allow its 17,000 financial advisers to use Twitter and LinkedIn, the social media platforms, in a move likely to be closely watched by its Wall Street competitors.Morgan Stanley’s risk management committee has given the go-ahead for all of the retail brokerage’s financial advisers to use the two sites. The approval follows a year-long trial in which 600 Morgan Stanley Smith Barney advisers were allowed to use the sites.Retail brokers and other financial companies have been grappling with ways to use social media to boost their businesses.“It’s a new thing for the industry and it’s a new thing for our company,” said Lauren Boyman, director of digital strategy at Morgan Stanley Smith Barney. “It just takes time to get this done and make sure that we are supervising it in a way that’s up to the standards of the firm.”Stringent rules governing what and how financial advisers and bankers can communicate are believed to be a key concern for financial companies wishing to use social media. Broker-dealers must keep records of their business and external messages typically require approval from within the company.“Two years ago social media was kind of the Wild West on Wall Street, there wasn’t a lot of direction from regulators” said Ms Boyman. Since then the Financial Industry Regulatory Authority has published guidelines for brokers’ use of social media but the companies are still proceeding with caution.Morgan Stanley Smith Barney, for instance, will allow its advisers to tweet from a library of pre-written messages – a concession that has been criticized by some commentators for going against the spontaneous spirit of social media. A small trial group of 20 financial advisers has been given the ability to write their own tweets, and Morgan Stanley Smith Barney is considering whether to expand that capability to a wider group.Still, Ms Boyman says that the response so far has been very “positive.” Of the 600 advisers involved in the trial, 40 per cent said they had brought in new clients through their social media use. Of those 240, about 60 per cent said they had won new customers with more than $1m of assets.Morgan Stanley Smith Barney’s social media rollout will begin in July, when the company is also scheduled to complete the integration of its two broker units. Citigroup and Morgan Stanley agreed to combine their brokerage businesses in 2009, during the depths of the financial crisis.
  • SPECIFIC EXAMPLE #1If you’re serving these people—and you are—you need to understand how people are operating & how you can serve them better.2012 is the year that smart advisors realize that social media is oxygen – not optional.Social is the unfair advantage of 2012.And it’s more unfair in 2012 than it will be in 2013 or 2014.Mark in WSJWhy: differentiator in a sea of sameness. At some point, social media will no longer differentiate you; you can’t afford to play catchup then . . . but you can reap exponential benefits now. Mark Scribner in the WSJ — that exposure is good for his business.Successful guy, but social media’s the only way he could have showed up in the WSJ in 2012.We’ve spoken to Mark and, guess what, this has been great for Mark’s business. How do you catch up on a lost relationship opportunity? (You don’t.)What’s the opportunity cost of a lost relationship?Baby announcement . . . vs. seeing the baby in a stroller.Gaxiola — lands daughter of client. Everybody’s talking about ROI . . . let’s not over-think the situation. Tell me, is there value in this data? Is there value to your business? What would it cost if you didn’t have it?

Webinar: Social Business and Financial Services, with @DachisGroup @Socialware Webinar: Social Business and Financial Services, with @DachisGroup @Socialware Presentation Transcript

  • WEBINAR Social Business and Financial Services: data, opportunities and winners Randy Jacops, VP Customer Success, Socialware Michael (MJ) Jones, VP Technology, Dachis Group Dec 2012 Creative Commons. Some Rights Reserved. 2012.® 2012 Dachis Group. Confidential and Proprietary
  • SOCIAL BUSINESS AND FINANCIAL SERVICES 1. THE PROMISE OF SOCIAL 2. KEY ISSUES 3. WINNERS 4. DATA & OPPORTUNITIES® 2012 Dachis Group. Confidential and Proprietary 2
  • Randy Jacops VP of Customer Success Socialware rjacops@socialware.com® 2012 Dachis Group. Confidential and Proprietary 3
  • Michael Jones VP of Technology Dachis Group mj@dachisgroup.com® 2012 Dachis Group. Confidential and Proprietary 4
  • SOCIAL BUSINESS AND FINANCIAL SERVICES 1. THE PROMISE OF SOCIAL® 2012 Dachis Group. Confidential and Proprietary 5
  • SOCIAL PROVIDES UNPRECEDENTED REACHAUDIENCE ON A MASSIVE SCALE Facebook users 1B Facebook SEC Filings 2012® 2012 Dachis Group. Confidential and Proprietary 6
  • SOCIAL PROVIDES UNPRECEDENTED REACHAUDIENCE ON A MASSIVE SCALE 187M LinkedIn users Sept 2012 (source: LinkedIn About page)® 2012 Dachis Group. Confidential and Proprietary 7
  • SOCIAL PROVIDES UNPRECEDENTED REACHDATA ON A MASSIVE SCALE 500M tweets a day Source: CNET, Oct 2012® 2012 Dachis Group. Confidential and Proprietary
  • SOCIAL CAMPAIGNS ARE NOWCOMMONPLACEA CORE MARKETING TACTIC® 2012 Dachis Group. Confidential and Proprietary 9
  • SOCIAL PROVIDES RICH DATA ACCESS & TRANSPARENCYOPPORTUNITY FOR INSIGHTS AND BUSINESS VALUE ® ® ® ® ® Business Outcomes Brand Brand Brand Brand Awareness Love Mindshare Advocacy Company® 2012 Dachis Group. Confidential and Proprietary
  • THE STEADY MARCH TO INCREASED USAGE & VALUE Added a new member Reached 600 million Grew 1100% since every second users 2009 Users + Value Innovate to drive increased value Develop Deploy social business Wall-to-wall Test the strategies compliance waters 2010 2011 2012 2013+® 2012 Dachis Group. Confidential and Proprietary
  • SOCIAL BUSINESS AND FINANCIAL SERVICES 2. KEY ISSUES® 2012 Dachis Group. Confidential and Proprietary 12
  • WHAT’S HOLDING BACK FINANCIALSERVICES PROFESSIONALS? 1 Social confusion and limited scope “My kids use it non-stop and I think corporate marketing does something with it” 2 Perceived complexity “Please not another system to learn – I don’t have time” 3 Limited success stories Envy-driven growth hasn’t happened – social akin to eCommerce in1996® 2012 Dachis Group. Confidential and Proprietary 13
  • TYPICAL 2010-2011 APPROACH When launching professionals on social networks, it is easy to oversimplify required decisions. Many companies approach as below: Share Best Choose Tool Identify Train Deploy Practices With 125+ successful deployments, Socialware knows the hidden complexities that delay value generation and jeopardize your success.® 2012 Dachis Group. Confidential and Proprietary 14
  • GREAT TECHNOLOGY IS ONLY PART OF THESOLUTION – REAL SUCCESS REQUIRES MORE Agent ROI Coaching Lifestyle Agent Content Success Stories Success Metrics Technology Webinars Knowledge Center Community Strategic Training Services SUCCESS® 2012 Dachis Group. Confidential and Proprietary 15
  • LESSONS LEARNED 1 2 3 A compliance-led Social networks “Build it and they will initiative advances change every day – come” does not work slowly and evolves partners must as a social network primarily to manage communicate strategy risk constantly 4 5 6 Most companies Delivering ROI is The regulatory underestimate the critical but teams fear environment is work required to the unknown – start complex – even the define and implement with engagement regulators are still a social program metrics figuring it out® 2012 Dachis Group. Confidential and Proprietary 16
  • REALIZING SOCIAL BUSINESS BENEFITS:BRAND & FIELD Brand Marketers Financial Professionals® 2012 Dachis Group. Confidential and Proprietary
  • SOCIAL BUSINESS AND FINANCIAL SERVICES 3. WINNERS® 2012 Dachis Group. Confidential and Proprietary 18
  • MORGAN STANLEY MONETIZES RELATIONSHIPS leads the industry in using social to drive revenue 40% 60% captured of the clients have new clients >$1M assets “The big takeaway is that it works,” -Lauren Boyman, Morgan Stanley Director of Social Media® 2012 Dachis Group. Confidential and Proprietary
  • MORGAN STANLEY’S PATH TO THE INDUSTRYSLARGEST SOCIAL DEPLOYMENT Initial Pilot Advisor Success Production Rollout 650 $10mm 17,500 Advisors Live In new business Advisors Enabled + Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Morgan Stanley Smith Barney’s Socialware Rollout Timeline® 2012 Dachis Group. Confidential and Proprietary 20
  • GUARDIAN AGENTS FIRST TO KNOW ABOUTBUSINESS OPPORTUNITIES In 6 weeks with 643 advisors Socialware uncovered Job changes alone represent $344.7M of 401(k) money in motion.® 2012 Dachis Group. Confidential and Proprietary
  • ADVISORS ARE MAKING SOCIAL PART OF THEIRDAILY LIVES® 2012 Dachis Group. Confidential and Proprietary
  • FIELD PROFESSIONALS: DELIVER & MEASURE VALUE Thought Leadership Grow Book Capture new of Business Drive Inbound Customers Leads Develop Leads IdentifyProspects Build Contacts ® 2012 Dachis Group. Confidential and Proprietary
  • SOCIAL BUSINESS AND FINANCIAL SERVICES 4. DATA & OPPORTUNITIES® 2012 Dachis Group. Confidential and Proprietary 24
  • MEASURING SOCIAL PERFORMANCE www.socialbusinessindex.com® 2012 Dachis Group. Confidential and Proprietary
  • FIN SERVICES: OPPORTUNITY TO GROW IN SOCIALLags behind Media & Telco in # of social discussions® 2012 Dachis Group. Confidential and Proprietary
  • ADVOCATE ENGAGEMENT IS KEY TO GROWTHFin Services can scale in social by leveraging company advocates® 2012 Dachis Group. Confidential and Proprietary
  • ADVOCATE ENGAGEMENT IS KEY TO GROWTHSignal count per advocate by industry® 2012 Dachis Group. Confidential and Proprietary
  • Q&A® 2012 Dachis Group. Confidential and Proprietary
  • Learn More info@socialware.com mj@dachisgroup.com @socialware @mjfreshyfresh www.socialware.com dachisgroup.com blog.socialware.com socialbusinessindex.com socialturns.com social.dachisgroup.com/tour® 2012 Dachis Group. Confidential and Proprietary 30