Social Media for Schwab Advisors


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  • This presentation is designed to help you have better and more productive conversations with your distressed clients. Doing so will not only help you build credibility with clients, but also differentiate yourself in the eyes of referral advocates like CPAs and attorneys.
  • A 3% increase across key stages can deliver 50% more sales Very few clients today are coming through on the internet Largest growth is over 40 however SoMe actually enhances the existing model – referrals Specialization: Orthopedic Surgeons, Verizon Retirese Fit in to existing strategied Marino Stram just did a great financial plan
  • … Brand Influencers ….who are collectively influencing brand perceptions and purchase decisions as more consumers turn to “peer-to-peer” Web communications as their trusted source of news, information, and opinions. “ The value of a network is proportional to the square of the number of connected users” Average age of evening news viewer: 60
  • Architecture of Participation User Generated Content Flickr – Popular photo sharing site, originally had no photos, therefor no value. The community has made Flickr a resource for viewing photographs from all over the world. Web 1.0 mimcked traditional media in the sense the information was coming from a single source the top and being pushed to users In Web 2.0, users have become both the publishers and consumers of content, which means information no longer comes from the top. Will go in depth in a few minutes when we talk about blogs. Database growth is exponential – Take the Flickr example. Even if Flickr was manually pushing out 100 photos per week, the amount of content will always remain linear. With users creating content, as the site popularity grows, the content being created will go from 100 to 500 to thousands of photos per week
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  • The long tail can be used in terms of economics: The most popular items will be on the left of the chart As the popularity gets less, the chart goes off toward the right indefinitely (this is the long tail) The long tail (if taken as a whole) will outsell the most popular items This is easily translated to the web: The most popular sites will receive lots and lots of traffic For each of these popular sites, there are 100,000 less popular sites (1 New York Times versus 100,000 Personal Blogs) Represents a power shift from corporation to consumer (which is a recurring theme in Blogs/RSS discussion) In the end, the long tail (as a whole) controls the market, receives more hits than the popular sites This becomes important when talking about our next topic, BLOGS Advisors are not using sites – brochure ware – some as portals for clients to access secure statements
  • Blogs are one of the Web 2.0 tools that have really changed the web. So, what is a blog?
  • Sites Shown LinkedIn is a social network of business professionals Facebook/MySpace are geared towards a younger audience, but is often utilized at the enterprise level for viral advertising, etc… Ning is a way to create a social network for free using SaaS Clearspace is a enterprise-level platform (either in front of or behind the firewall) allows users to submit, tag, save and share website and blog content Benefits of Marketing: Great resource when conducting product or market research Submit your own articles of interest Flickr is an image and video hosting website, web services suite, and online community platform. It was one of the earliest Web 2.0 applications. In addition to being a popular Web site for users to share personal photographs, the service is widely used by bloggers as a photo repository. Social Software Social software is a concept that has really taken hold in the new web Allows people to collaborate and communicate in new and interesting ways Sites have no inherent value, all value is provided by community
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  • Email blasts to mitigate market conditions Regulatory Custody Schwab Fidelity TD America Compliance – resp for their own Fee based Asset based
  • This is a high-level example of how RSS works. Publishers – Blog Articles, Links (through, a social bookmarking site), Podcasts, Photos (from Flickr), Video (from YouTube) Once an article is published it is automatically picked up by subscribers Subscribers - Web-based feed readers (Google Reader), Desktop Applications, Aggregators (combine multiple feeds into single location, will discuss momentarily), Animated Flash Tickers, iTunes (podcasts), etc… There are hundreds of tools out there that can subscribe to feeds… POSSIBLE AGGREGATION OF CONTENT
  • Wiki as a Knowledge Base Most popular example is Wikipedia All Wikipedia content is managed by is audience Anyone can make changes, but changes must be approved Power lies in cross-indexing of articles, you can define new terms by pointing to their own entry Too much business process information is tribal knowledge “ Go Ask Jim” > Why is Jim the only one with this information? Any unknown process should be recorded in the wiki Eventually you will migrate all tribal knowledge into an easily searchable index of information
  • So now instead of a few sources of news we have MILLIONS of independent sources of information 50 years ago, corporate image was built on what they showed us on TV, Radio Now you no longer sweep bad press under the rug, your image truly represents your actions Again we see the consumer gaining power through Web 2.0 The conversation about your brand is taking place in the blogosphere with or without you. Are you participating?
  • Case Study: Dell Hell Blogger Jeff Jarvis is not happy with his laptop, write incendiary post about Dell using the phrase “Dell Hell” Within days, his comments published in the NY Times and Business Week This shows exactly how bloggers have real power to influence public opinion Certain blogs are thought of as legitimate news sources Dell responded correctly by creating a blog Not by creating PR campaign to overshadow Jarvis’ comments They created “Direct2Dell’ blog, authored by someone with over 15 years at Dell Give people a real human to hear their complaints, and actually respond Jarvis and other bloggers calmed down once they had a venue to air their grievances No one wants to throw stones at a huge corporation, people just want to be heard
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  • A 3% increase across key stages can deliver 50% more sales Very few clients today are coming through on the internet Largest growth is over 40 however SoMe actually enhances the existing model – referrals Specialization: Orthopedic Surgeons, Verizon Retirese Fit in to existing strategied Marino Stram just did a great financial plan
  • It’s about communicating your value -
  • Social Media for Schwab Advisors

    1. 1. The views of third-party speakers and their materials distributed are their own and do not necessarily represent the views of Charles Schwab & Co., (“Schwab”). Third party speakers are not affiliated with Schwab. Schwab Institutional is a division of Schwab. ©Charles Schwab & Co., Inc. Member SIPC. Exploring The Social Networking and Media Landscape John Stone III Revenue Architects, LLC
    2. 2. Today’s Discussion <ul><li>What is the Social Media opportunity? </li></ul><ul><li>Tools of the Trade </li></ul><ul><ul><li>Using Social Media to support your marketing efforts </li></ul></ul><ul><li>Regulatory and Compliance Considerations </li></ul>
    3. 3. New Media: The Opportunity <ul><li>Expand awareness: Social Media allows you to extend your online presence and increase awareness </li></ul><ul><li>Enhance your credibility: Within compliance constraints, you can take advantage of these newer “outposts” and engage audiences across the social web </li></ul><ul><li>Drive traffic your way: With social media presence, your own web site will benefit from inbound links and search engine page ranking </li></ul><ul><li>Convert opportunities: With a thoughtful plan and a consistent commitment to social media engagement, you can nurture prospects into new clients </li></ul>
    4. 4. Where is the Value? Aware Interested Considering Evaluating Committed Customer Advocate Developing initial perceptions… 1 .. Considering alternatives… 2 .. responding to relationship and dialog… 3 … becoming advocates for you. 4
    5. 5. Today's New Media Ecosystem <ul><li>Social media represents the fastest growing segment of the Web </li></ul><ul><li>This growing phenomenon is creating a new generation of “brand influencers” </li></ul><ul><li>Every second 2 new blogs are created </li></ul><ul><li>1,500 new “Tweets” occur </li></ul><ul><li>1,157 videos are viewed on YouTube </li></ul>
    6. 6. An Architecture of Participation <ul><li>User Generated Content </li></ul><ul><li>Users are publishers and consumers </li></ul><ul><li>Crowdsourcing </li></ul><ul><li>Folksonomy </li></ul><ul><li>Engagement </li></ul>
    7. 7. A New Model for Information Information in Web 2.0 is more… ..dynamic ..local ..atomic ..relevant ..mashable ..sharable
    8. 8. The Principles Remain Unchanged <ul><li>Relationships </li></ul><ul><li>Referrals </li></ul><ul><li>Human interaction </li></ul><ul><li>Authenticity </li></ul><ul><li>Communication </li></ul><ul><li>Intelligent Content </li></ul><ul><li>Conversations </li></ul>
    9. 9. Google… … A Window to Audience Intention
    10. 10. Organic Search <ul><li>Organic Search is Best </li></ul><ul><ul><li>Free </li></ul></ul><ul><ul><li>More traffic </li></ul></ul><ul><ul><li>Smarter people </li></ul></ul><ul><ul><li>Longer lasting </li></ul></ul>Organic Results 75% Clicks Vs. Paid Search
    11. 11. Organic Search =Authentic Visibility <ul><li>Off Page = 75% </li></ul><ul><li>Social Mediasphere </li></ul><ul><li>Blogosphere </li></ul><ul><li>Directories </li></ul><ul><li>Partners </li></ul><ul><li>Press Releases </li></ul><ul><li>Answers, Forums, etc </li></ul><ul><li>On Page = 25% </li></ul><ul><li>Keywords </li></ul><ul><li>Relevance </li></ul><ul><li>Page Title, Tags </li></ul><ul><li>Meta Data </li></ul><ul><li>XML Site Map </li></ul>
    12. 12. The Long Tail – New Marketplace “ Financial Planner” “ Financial Planner for Verizon retiree” Image from
    13. 13. Tools of the Trade
    14. 14. Social Software
    15. 15. Your Own Web Site <ul><li>Branding and Design </li></ul><ul><li>Strong Content, Multi-media </li></ul><ul><li>Web 2.0 Features (Mobile, Sharable, RSS), Rich Internet Applications </li></ul><ul><li>User Generated Content </li></ul><ul><li>Interoperate/ Mashups </li></ul><ul><li>Landing Pages & Conversions </li></ul>All roads lead here… be prepared to capture the opportunities
    16. 16. Web 2.0 & Social Bookmarking <ul><li>Users to share links / bookmarks </li></ul><ul><li>Web 2.0 integration </li></ul><ul><li>Free marketing </li></ul><ul><li>Drive traffic back </li></ul>
    17. 17. What to publish? <ul><li>Articles/ Blog Posts </li></ul><ul><li>Others’ Content </li></ul><ul><li>Podcasts, Videos </li></ul><ul><li>Photos </li></ul><ul><li>Presentations </li></ul><ul><li>eBooks </li></ul><ul><li>News Releases </li></ul><ul><li>Event Announcements </li></ul>
    18. 18. Email & eNewsletters <ul><li>Email is still key to stay in front of your audience </li></ul><ul><li>Emphasize content and value </li></ul><ul><li>Consider Text vs. HTML </li></ul><ul><li>Tracking codes </li></ul><ul><li>Syndication RSS </li></ul><ul><li>Promotion (e.g. Events) </li></ul><ul><li>Opt-in & Conversion </li></ul>
    19. 19. RSS – Really Simple Syndication <ul><li>Subscribe to a feed and automatically receive updates </li></ul><ul><li>Search-based feeds helps content find you </li></ul><ul><li>Subscriptions are free </li></ul><ul><li>RSS can be used for digital publishing and newsletters </li></ul>SUBSCRIBE Feed Readers, Aggregators, Flash, Google Desktop, iTunes, etc…
    20. 20. Mobile <ul><li>Extend your reach </li></ul><ul><li>WAP or Native Applications </li></ul><ul><li>Mashups (e.g. Location Aware) </li></ul><ul><li>Customer Service / Account Access </li></ul>
    21. 21. Wikis - Wikipedia <ul><li>Collaborative authoring of content </li></ul><ul><li>User-edited content </li></ul><ul><li>17 million Wiki Pages </li></ul><ul><li>Content changes must by approved </li></ul><ul><li>Articles are cross-indexed </li></ul>
    22. 22. Blogs <ul><li>A web site of posts published in reverse-chronological order </li></ul><ul><li>Brings more dynamic content to your audience </li></ul><ul><li>Wide range in quality </li></ul><ul><li>Can build presence in the mediasphere </li></ul><ul><li>Increase awareness </li></ul>
    23. 23. Blogger Impact Example <ul><li>Jeff Jarvis coins phrase “Dell Hell” in his blog </li></ul><ul><li>Comments publicized by New York Times and Business Week </li></ul><ul><li>Dell responds by creating Direct 2 Dell blog </li></ul>
    24. 24. Blog Syndication <ul><li>Align individual and corporate goals </li></ul><ul><li>Newsletter Syndication </li></ul><ul><li>RSS based </li></ul><ul><li>Compliance workflow is key </li></ul>
    25. 25. Social Networking…
    26. 26. Facebook <ul><li>Presence, Sharing </li></ul><ul><li>Transparency- Identities – Home/ Work </li></ul><ul><li>Groups, Fans, Events </li></ul><ul><li>Increase Brand Awareness </li></ul><ul><li>Syndication (e.g. Tweets, Links) </li></ul><ul><li>Referrals </li></ul>
    27. 27. Facebook: Compelling Facts <ul><li>250 million+ active users </li></ul><ul><li>120 million+ users log on each day </li></ul><ul><li>Two-thirds of users are out of college </li></ul><ul><li>Average user has 120 friends </li></ul>Source: Facebook <ul><li>5 billion minutes on Facebook each day (worldwide) </li></ul><ul><li>30 million users update status at least once each day </li></ul><ul><li>8 million users become Fans of Pages each day </li></ul>Fastest growing demographic is 35 years old and older
    28. 28. Twitter <ul><li>Follow news, trends, brands, people, topics </li></ul><ul><li>A new social and political revolution </li></ul><ul><li>Listen, engage, service </li></ul><ul><li>An outpost to syndicate your content </li></ul><ul><li>Convert sales </li></ul><ul><li>Find experts </li></ul>
    29. 29. Twitter <ul><li>Example - Find experts </li></ul>
    30. 30. LinkedIn <ul><li>Average age: 41 years </li></ul><ul><li>Average salary: $110,000 </li></ul><ul><li>45 million users </li></ul><ul><li>16 million worldwide monthly unique visitors </li></ul><ul><li>331 million page views in June 2009 </li></ul>
    31. 31. LinkedIn – Key Value <ul><li>Credible business referral Network </li></ul><ul><li>Professional outpost </li></ul><ul><li>Tool for content syndication </li></ul><ul><li>Long tail groups and communities </li></ul><ul><li>Keys include connections and credible content </li></ul>
    32. 32. Financial Advisors in My Network? <ul><li>Do they have a credible resume? </li></ul><ul><li>Have people recommended them? </li></ul><ul><li>Have they published? </li></ul><ul><li>What is their particular expertise? </li></ul>
    33. 33. YouTube <ul><li>Another storefront </li></ul><ul><li>Shareable, Relevance </li></ul><ul><li>24x7 Marketing </li></ul><ul><li>Credibility </li></ul><ul><li>Lead Generation </li></ul><ul><li>Syndication – to your site, others </li></ul><ul><li>Free – but requires commitment </li></ul>
    34. 34. Extend your Media Presence
    35. 35. Podcasts <ul><li>Communication with subscribed listeners </li></ul><ul><li>Encourage sales & conversion rates </li></ul><ul><li>Support nurture program </li></ul><ul><li>Ability to offer richer content, greater loyalty </li></ul><ul><li>Differentiate </li></ul><ul><li>Appeal to long tail niche </li></ul>
    36. 36. Groups, Communities, Forums <ul><li>Share media, participate, communicate, innovate </li></ul><ul><li>Foster advocacy </li></ul><ul><li>Online focus groups / R&D </li></ul><ul><li>Groups - Participate or Lead </li></ul>
    37. 37. eBooks <ul><li>Training, handbooks, reference guides, product guides, manuals </li></ul><ul><li>Rich content, commercial Value </li></ul><ul><li>Multi-media experience </li></ul><ul><li>Searchable, indexed </li></ul><ul><li>Credibility </li></ul>
    38. 38. Listening <ul><li>What is the “Conversation” </li></ul><ul><li>about you? </li></ul><ul><li>Where to Listen: Relevant Forums, Blog Search, Twitter, Google Alerts </li></ul><ul><li>Advanced listening systems and dashboards </li></ul><ul><li>Determine the sentiment </li></ul><ul><li>Participate in conversations </li></ul>
    39. 39. Events and Webinars <ul><li>Build credibility </li></ul><ul><li>Collect registration data </li></ul><ul><li>Promote with Facebook, Twitter, LinkedIn </li></ul><ul><li>Enable the nurture program and permission marketing </li></ul>
    40. 40. Internet Marketing Opportunity Your Website Visitors! Conversions Landing Pages Offers Content Key Words Social Media Other Websites Inbound Links
    41. 41. Creating Value Aware Interested Considering Evaluating Committed Customer Advocate Developing initial perceptions… 1 .. Considering alternatives… 2 .. responding to relationship and dialog… 3 … becoming advocates for you. 4
    42. 42. What you can do? <ul><li>Talk to your compliance partners </li></ul>Good Better Best <ul><li>Establish an online presence with outposts within social media </li></ul><ul><li>Enhance your web site experience </li></ul><ul><li>Publish original content around your specialty </li></ul><ul><li>Build your online network </li></ul><ul><li>Syndicate your content across outposts </li></ul><ul><li>Establish a nurture program with multi-media content, events and self-selection </li></ul><ul><li>Better enable online conversions (e.g. engagements with your firm; two-way communications) </li></ul>
    43. 43. Consider Regulators & Compliance <ul><li>Look at all the Regulators who impact your business </li></ul><ul><li>Use of advertisement product may require preapproval </li></ul><ul><li>Establish firm policies related to electronic communications and participation in electronic forums such as social networking sites </li></ul>* Charles Schwab & Co., Inc. does not provide legal or compliance advice.
    44. 44. Thank You