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Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
Financial Professionals: An introduction to the new culture of social media networks
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Financial Professionals: An introduction to the new culture of social media networks

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Keynote presentation by Jay Palter to national meeting of Peak Financial Group, May 11, 2011, Victoria, BC.

Keynote presentation by Jay Palter to national meeting of Peak Financial Group, May 11, 2011, Victoria, BC.

Published in: Economy & Finance, Business
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  • 1. Financial Professionals: An introduction to the New Culture of Social Media Networks Presented by Jay Palter, Principal Groupe financier Financial Group National Meeting - May 11, 2011 - Victoria, BC
  • 2. Overview
    • Primacy of search
    • Defining social media
    • Impact on business culture
    • Strategic considerations for professionals
    • Overcoming barriers to entry
  • 3. Search
  • 4. Search 93 % of consumers worldwide that use search engines to find and access websites. Source: Forrester Research 85 % of qualified Internet traffic is driven through search engines. Source: Seventh WWW User Survey - Georgia Institute of Technology 75 % of search engine users who never scroll past the first page of results. Source: Seventh WWW User Survey - Georgia Institute of Technology
  • 5. What does this mean?
    • Eventually, everyone is “Googled”
    • Website is small part of your online presence
    • Social media engagement improves search engine optimization
    • End of forgetting – web content is permanent
    • Give up your need for control
  • 6. Social Media: a definition
  • 7. Social Media is...
    • A synthesis of new and traditional media
    • that incorporates advertising, public relations,
    • customer service, marketing, sales, and
    • community relations.
    It’s disruptive . It’s about human sociology . It’s enabled by technology .
  • 8. Driven by content media social articles charts pictures videos ads/creative slide decks doodles comments feedback criticism analysis sharing/curation discussion user created
  • 9.  
  • 10. Focus on these...
  • 11. Income demographics
  • 12. Age demographics
  • 13. Use LinkedIn to...
    • Be found by clients, prospects and colleagues
    • Establish credibility on subject matter
    • Research, find prospects and connect
  • 14. Use Twitter to...
    • Stay informed through feeds
    • Identify influencers and connect with them
    • Broaden social networks
    • Curate/share and promote content
  • 15. Use Facebook to...
    • Build community of supporters
    • Show some personality
    • Demonstrate compassion and show passion
    • Share
  • 16. Why blog?
    • Your blog is your publishing base
    • You publish and share to demonstrate your subject matter expertise
    • Blogs can be great for search engine optimization
  • 17. New media vs. old New media Old media Micro, many-to-many Mass, one-to-many Dialogue Monologue Open Closed
  • 18.  
  • 19. 10 social media marketing laws
    • Listen as much as you talk.
    • Focus on a niche rather than try to be everything to everyone.
    • Quality trumps quantity.
    • Be patient .
    • Produce quality content, build quality followers & word of mouth will do the rest.
    Source: Susan Gunelius, 10 Laws of Social Media Marketing , http://www.entrepreneur.com/article/218160
  • 20. 10 laws (cont’d)
    • Find and build relationships with influencers .
    • Always add value .
    • Try to acknowledge people who reach out.
    • Be accessible .
    • Reciprocate sharing.
    Source: Susan Gunelius, 10 Laws of Social Media Marketing , http://www.entrepreneur.com/article/218160
  • 21. Trust
  • 22. Trust
    • The ultimate customer
    • is one who has given you
    • his or her trust.
    • Trust is earned by an overall great experience with a foundation of authenticity, open communication, knowledge and value.
    Mitch Joel – Six Pixels of Separation
  • 23. Trust equation
    • Trust is a function of
    • C (credibility) multiplied by
    • R (reliability) multiplied by
    • I (intimacy) divided by
    • S (self-orientation).
    Source: Brogan and Smith - Trust Agents Maister, Galford and Green - The Trusted Advisor T = C * R * I / S
  • 24. Become a Trust Agent
    • Build your credibility by...
      • Creating quality content
      • Curating others’ quality content
    • Be consistent and reliable by...
      • Responding and being present in discussions
      • Sticking to it, no quitting
  • 25. ...by doing this
    • Being personal…
      • Sharing your personality
      • Showing what you care about
    • Being a giver...
      • Being helpful and generous with your time
      • Giving of yourself without asking for anything back
  • 26.  
  • 27. The brand is You
    • We are witnessing a revolution in personal branding:
    • Access to audience is being disintermediated
    • Success (celebrity and influence) is being redefined on smaller scale
    • The personal is becoming professional
  • 28. Personal branding Stop asking what your business should do with social media and focus on what YOU should do - the rest will fall into place.
  • 29. palter.ca /web
  • 30. Influence economy
    • Money can’t buy it - You have to earn it
    • People - not corps - influence people
    • People you influence become your brand ambassadors
    • Pay attention to influence measurement tools such as:
  • 31. Barriers
    • Compliance
    • Lack of control
    • Lack of time
    • Lack of knowledge
  • 32.  
  • 33. Compliance
    • Focus on credibility, relationships and trust
    • Leave transactional “heavy lifting” - whatever you need to say to help your client make a decision - to traditional channels (meetings, phone, corporate email)
    • Archive, archive, archive (eg., Socialware, Arkovi)
  • 34. Control
    • You CANNOT control conversations, content or search results, but:
      • You CAN participate in dialogue
      • You CAN inspire about your brand
      • You CAN respond, reply and engage
  • 35. Time
    • Re-evaluate all your time allocations
    • Leverage your support team to help you
    • Put in some “after hours” time
    • Outsource strategy and implementation support
  • 36. Knowledge
    • Read books and blogs
    • Learn from trial and error
    • Be an early adopter
    • Overcome your fear
  • 37.
    • Presented by
    • Jay Palter, Principal
    • Palter Social Media
    • web: http:// palter.ca /web
    • email: [email_address]
    • Twitter: http://twitter.com/jaypalter
    • mobile: 780-868-8433

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