Social Media Basics introducing a strategy for a financial services corporation

It‘s about Business - not Marketing or Communications intensify communication increase reach and impact shift business: participate, learn, grow

Levels of Control and Integration the closer connected the audience is – the more control and direct productivity the less control, the more participation, negotiation and patience is required Intranet create Internet promote Online Media (Blogs, Wikis, Microblogs, …) discuss Social Media, Social Networks participate grade of integration level of control

the closer connected the audience is – the more control and direct productivity

the less control, the more participation, negotiation and patience is required

Internal Enterprise Social Network … dont add anything new, but use the existing knowledge and power with more efficiency Enterprise Social Networks „…look to be inexpensive, easy to roll out and require little employee training. Cash-constrained companies should look at ESN as a way of capturing value that already exists within an enterprise at a relatively low cost.“ (Deloitte Technology Predictions 2009)

… dont add anything new, but use the existing knowledge and power with more efficiency

Enterprise Social Networks „…look to be inexpensive, easy to roll out and require little employee training. Cash-constrained companies should look at ESN as a way of capturing value that already exists within an enterprise at a relatively low cost.“ (Deloitte Technology Predictions 2009)

Internal vs. External Networking build grow protect educate share train start your own community to ensure participation, protection and creativity participate be a dialog partner entertain attract take advantage of existing networks and communities to use the existing crowds to full capacity don‘t start your own community

Do‘s and Don‘ts don‘t promote, participate ! don‘t start your own platforms! (except for internal purposes…) don‘t just hire PR agencies! – this is a new area of communication don‘t just hire consultants! – do your own work or leave it; fakes don‘t survive show activity – also in the networks of others do risk trial and error – you can learn this only by doing

don‘t promote, participate !

don‘t start your own platforms! (except for internal purposes…)

don‘t just hire PR agencies! – this is a new area of communication

don‘t just hire consultants! – do your own work or leave it; fakes don‘t survive

show activity – also in the networks of others

do risk trial and error – you can learn this only by doing

First Steps create enterprise networks , internal Facebook: user profiles (company directory) interests, skills, experience – share knowledge, find dialogpartners cultivate conversation; network and learn join the conversation - Cluetrain Manifesto (external Communications) use Facebook (if you have popular mascots - use them) enable tags, feeds, comments on your corporate site; join social bookmarking services create mashups with Social Networks, Social Archives, other applications and your content join the conversation as a sponsor and sparring partner eg. provide rooms for Barcamps, participate in surveys, join conferences,…

create enterprise networks , internal Facebook:

user profiles (company directory)

interests, skills, experience – share knowledge, find dialogpartners

cultivate conversation; network and learn

join the conversation - Cluetrain Manifesto (external Communications)

use Facebook (if you have popular mascots - use them)

enable tags, feeds, comments on your corporate site; join social bookmarking services

create mashups with Social Networks, Social Archives, other applications and your content

join the conversation as a sponsor and sparring partner

eg. provide rooms for Barcamps, participate in surveys, join conferences,…

ROI, Business Cases define detailed KPIs and goals for your activities: eg # of friends/followers, # of comments, # of backlinks, ranking in search engines, technorati etc. -> this is Cost of Investment define financial values for your KPIs – as you do it in classical advertising: worth of a friend in €, worth of a comment in €, visibility share in search engines in € -> this is Gain of Investment do a standard ROI-calculation : If you don‘t want to care for the details, you will not find ROI – no business model or controlling framework can help you with that (Gain of Investment – Cost of Investment) Cost of Investment

define detailed KPIs and goals for your activities: eg # of friends/followers, # of comments, # of backlinks, ranking in search engines, technorati etc. -> this is Cost of Investment

define financial values for your KPIs – as you do it in classical advertising: worth of a friend in €, worth of a comment in €, visibility share in search engines in € -> this is Gain of Investment

do a standard ROI-calculation :

If you don‘t want to care for the details, you will not find ROI – no business model or controlling framework can help you with that

Benefits do a Google search for financial crisis it doesn‘t matter what search engine you use, the top-results will be some online newspapers and a lot of private financial advisors‘ blogs offering their help no banks blogs, social networking, social bookmarks are a very efficient way to join this conversation

do a Google search for financial crisis

it doesn‘t matter what search engine you use, the top-results will be

some online newspapers

and a lot of private financial advisors‘ blogs offering their help

no banks

blogs, social networking, social bookmarks are a very efficient way to join this conversation

Action Plan modernize Intranet to prepare employees, cultivate their media literacy enable internal networking start using Networks and Social Media for your communication listen and learn share information, don‘t just promote your own stuff develop credibility support the growing social media culture , community and research

modernize Intranet

to prepare employees, cultivate their media literacy

enable internal networking

start using Networks and Social Media for your communication

listen and learn

share information, don‘t just promote your own stuff

develop credibility

support the growing social media culture , community and research