0
Social Business Design:
Building Better Finance Companies
Lee Bryant, SOMESSO, Zürich 2009
www.headshift.com/projects




                             [projects]
                                 About
TRADITIONALLY, FINANCE HAS BEEN
BASED ON SOCIAL NETWORKS:
THIS IS NOT NEW!
We are seeing growing adoption
of social tools in financial services
BANK BLOGS
& SOCIAL MEDIA
ONLINE COMMUNITIES MOVING
TOWARDS SOCIAL NETWORKS
MARKET INNOVATION
& NEW PRODUCTS
SOCIAL NEWS SITES
SOCIAL NETWORKING
& STOCK PICKING
The next stage is taking this inside
the firm to create a next generation
    ‘business operating system’



              ...
Social Business Design   connections




 content




                          collaboration

           culture
        ...
1. Workforce collaboration
SOCIAL NETWORKS
AS ORGANISATIONAL   (cc) http://www.flickr.com/photos/yuan2003/403643949/



IMMUNE SYSTEM
NETWORKED, NOT
JUST INDIVIDUAL
PRODUCTIVITY
CISCO Experience:
What used to be "me" is now "we"
The goal is to get more products to
market faster ... Fifteen minutes a...
INTERNAL SOCIAL TOOLS
TYPICALLY INCLUDE:
> Wikis
> Social networks
> Blogs and micro-blogging
> Social bookmarking & taggi...
EXAMPLE PROJECTS:
> Cross-functional collaboration
for a major bank
> Secure social networking with
clients for a big 5 co...
2. Customer participation
ANYBODY CAN FORM
NETWORKS AND THE
COST OF COLLECTIVE
ACTION IS TRENDING
TO ZERO
ATTENTION ECONOMY ?
INTENTION ECONOMY ?
REAL-TIME SOCIAL NETWORKS AS
INFORMATION FILTER & INFLUENCER
FUTURE CORPORATE BANKING:
> personalised info services
> conversational relationships
> share expertise & knowledge
> avoi...
FUTURE RETAIL BANKING:
> brand communities
> peer-to-peer help, self-service
> user-generated information
> better tools &...
(But start with the basics)
LISTEN
ENGAGE
'()*+))(,-.
      !"#$$%&       !/#&/%&




MEASURE


 0%"12.,&(%-/%3
   '()*+))(,-         41#$%
                     5#&...
EVOLVE
SHIFT FROM
DEMOGRAPHIC
TARGETING TO
SEGMENTATION
BASED ON
BEHAVIOUR
EXTERNAL SOCIAL TOOLS
TYPICALLY INCLUDE:
> Blogs and Twitter
> Facebook, LinkedIn, MySpace
(be present where your customer...
3. Partnerships & service innovation
DATA SERVICES, APIs,
& INTERFACES
SERVICE INNOVATION &
THE ZAPPOS LESSON
NEW NETWORKED
BUSINESS MODELS
NEW NETWORKED
BUSINESS MODELS
ECOSYSTEM SOCIAL TOOLS
TYPICALLY INCLUDE:
> Data feeds & open APIs
> Widgets and mini sites
> Packaged content for others ...
EXAMPLE PROJECTS:
> Multi-company social
networking and knowledge
sharing system for an equity
investment house
Creating a social business program




                                © 2009 Dac
> Analyse business-level issues
> Drill down to specific use cases
> Create a program with clear
success goals & evaluatio...
CONNECTIONS:
> Internal networks
> Connectedness
> Partner ecosystem
> Client relationships
> Market presence
CULTURE:
> Sharing behaviours
> Social learning / training
> Socialising product info
> Collective intelligence
> Employee...
COLLABORATION:
> Sense making
> Group forming
> Client data flows
> Market data flows
> Community engagement
metafilter
CONTENT & FILTERS
> Flow, feeds, ambient awareness
> Clients get a ‘window’ on the firm
> Social CRM intention mining
    ...
Adoption challenges
FOCUS ON ‘IN THE FLOW’ USE CASES,
TACKLING PRACTICAL ISSUES
FOCUS ON OUTCOMES, NOT TOOLS
START WITH BEHAVIOURS PEOPLE
KNOW, AND WORK FROM THERE
CONCLUSIONS:
> Finance = data + networks
> Threats posed by new trends are
also opportunities for innovation
> Information...
Thank you for listening




        Lee@headshift.com




             http://www.headshift.com
Thanks for listening!

I am lee@headshift.com and
I live at http://www.headshift.com
Except where otherwise stated, photos...
Social Business Design for the Finance Sector
Social Business Design for the Finance Sector
Social Business Design for the Finance Sector
Upcoming SlideShare
Loading in...5
×

Social Business Design for the Finance Sector

2,276

Published on

Slides of a talk given at SOMESSO, Zürich, November 2009

Published in: Business, Technology
0 Comments
10 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
2,276
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
82
Comments
0
Likes
10
Embeds 0
No embeds

No notes for slide

Transcript of "Social Business Design for the Finance Sector"

  1. 1. Social Business Design: Building Better Finance Companies Lee Bryant, SOMESSO, Zürich 2009
  2. 2. www.headshift.com/projects [projects] About
  3. 3. TRADITIONALLY, FINANCE HAS BEEN BASED ON SOCIAL NETWORKS: THIS IS NOT NEW!
  4. 4. We are seeing growing adoption of social tools in financial services
  5. 5. BANK BLOGS & SOCIAL MEDIA
  6. 6. ONLINE COMMUNITIES MOVING TOWARDS SOCIAL NETWORKS
  7. 7. MARKET INNOVATION & NEW PRODUCTS
  8. 8. SOCIAL NEWS SITES
  9. 9. SOCIAL NETWORKING & STOCK PICKING
  10. 10. The next stage is taking this inside the firm to create a next generation ‘business operating system’ © 2009 Dac
  11. 11. Social Business Design connections content collaboration culture [social business design]
  12. 12. 1. Workforce collaboration
  13. 13. SOCIAL NETWORKS AS ORGANISATIONAL (cc) http://www.flickr.com/photos/yuan2003/403643949/ IMMUNE SYSTEM
  14. 14. NETWORKED, NOT JUST INDIVIDUAL PRODUCTIVITY
  15. 15. CISCO Experience: What used to be "me" is now "we" The goal is to get more products to market faster ... Fifteen minutes and one week to get a [business] plan that used to take six months!"
  16. 16. INTERNAL SOCIAL TOOLS TYPICALLY INCLUDE: > Wikis > Social networks > Blogs and micro-blogging > Social bookmarking & tagging > RSS & data feeds
  17. 17. EXAMPLE PROJECTS: > Cross-functional collaboration for a major bank > Secure social networking with clients for a big 5 consultancy > Internal knowledge sharing for assurance company > Employee engagement for a major insurance group
  18. 18. 2. Customer participation
  19. 19. ANYBODY CAN FORM NETWORKS AND THE COST OF COLLECTIVE ACTION IS TRENDING TO ZERO
  20. 20. ATTENTION ECONOMY ? INTENTION ECONOMY ?
  21. 21. REAL-TIME SOCIAL NETWORKS AS INFORMATION FILTER & INFLUENCER
  22. 22. FUTURE CORPORATE BANKING: > personalised info services > conversational relationships > share expertise & knowledge > avoid commoditisation
  23. 23. FUTURE RETAIL BANKING: > brand communities > peer-to-peer help, self-service > user-generated information > better tools & tracker feeds > ‘intention market’ for lower acquisition and transaction costs
  24. 24. (But start with the basics)
  25. 25. LISTEN
  26. 26. ENGAGE
  27. 27. '()*+))(,-. !"#$$%& !/#&/%& MEASURE 0%"12.,&(%-/%3 '()*+))(,- 41#$% 5#&&(,& 34
  28. 28. EVOLVE
  29. 29. SHIFT FROM DEMOGRAPHIC TARGETING TO SEGMENTATION BASED ON BEHAVIOUR
  30. 30. EXTERNAL SOCIAL TOOLS TYPICALLY INCLUDE: > Blogs and Twitter > Facebook, LinkedIn, MySpace (be present where your customers gather) > Social Media Monitoring tools > Social Network Analysis tools > Community Platforms
  31. 31. 3. Partnerships & service innovation
  32. 32. DATA SERVICES, APIs, & INTERFACES
  33. 33. SERVICE INNOVATION & THE ZAPPOS LESSON
  34. 34. NEW NETWORKED BUSINESS MODELS
  35. 35. NEW NETWORKED BUSINESS MODELS
  36. 36. ECOSYSTEM SOCIAL TOOLS TYPICALLY INCLUDE: > Data feeds & open APIs > Widgets and mini sites > Packaged content for others to use on their own sites > Partner / Developer Communities
  37. 37. EXAMPLE PROJECTS: > Multi-company social networking and knowledge sharing system for an equity investment house
  38. 38. Creating a social business program © 2009 Dac
  39. 39. > Analyse business-level issues > Drill down to specific use cases > Create a program with clear success goals & evaluation metrics > Run projects and connect IT projects to achieve these goals
  40. 40. CONNECTIONS: > Internal networks > Connectedness > Partner ecosystem > Client relationships > Market presence
  41. 41. CULTURE: > Sharing behaviours > Social learning / training > Socialising product info > Collective intelligence > Employee engagement
  42. 42. COLLABORATION: > Sense making > Group forming > Client data flows > Market data flows > Community engagement
  43. 43. metafilter
  44. 44. CONTENT & FILTERS > Flow, feeds, ambient awareness > Clients get a ‘window’ on the firm > Social CRM intention mining metafilter
  45. 45. Adoption challenges
  46. 46. FOCUS ON ‘IN THE FLOW’ USE CASES, TACKLING PRACTICAL ISSUES
  47. 47. FOCUS ON OUTCOMES, NOT TOOLS
  48. 48. START WITH BEHAVIOURS PEOPLE KNOW, AND WORK FROM THERE
  49. 49. CONCLUSIONS: > Finance = data + networks > Threats posed by new trends are also opportunities for innovation > Information assymetries are falling away - compete in the open! > Intimate, social customer service is the best protection against price sensitivity and commoditisation
  50. 50. Thank you for listening Lee@headshift.com http://www.headshift.com
  51. 51. Thanks for listening! I am lee@headshift.com and I live at http://www.headshift.com Except where otherwise stated, photos courtesy of Flickr using Creative Commons license. Thanks to the following photographers: http://www.brockcraft.com/wp-content/uploads/2008/11/bailout-graphic001.png http://images.google.com/imgres?imgurl=http://thesituationist.files.wordpress.com/2008/02/ trading-floor.jpg&imgrefurl=http://thesituationist.wordpress.com/2008/02/08/ &usg=__aSMG_vYDG- ve4VoLGPbQ5RygVA4=&h=955&w=1417&sz=327&hl=en&start=6&um=1&tbnid=LWmhX9Z p1dOOjM:&tbnh=101&tbnw=150&prev=/images%3Fq%3Dtraditional%2Btrading%2Bnetworks %26imgsz%3Dxxlarge%26um%3D1%26hl%3Den%26client%3Dsafari%26rls%3Den-us%26sa %3DN http://www.carbodydesign.com/archive/2008/05/15-virtual-painting-at-ford/1914-Ford- Model-T-Painting-lg.jpg http://www.touchgraph.com http://www.flickr.com/photos/paul_irish/2379958609/sizes/l/ http://www.flickr.com/photos/poorfish/2402437518/ http://www.flickr.com/photos/brianboulos/36957265/ http://www.flickr.com/photos/7855449@N02/sets/72157606844282993/ http://www.flickr.com/photos/dplanet/94442623/ http://www.flickr.com/photos/joeshlabotnik/305410323/ Kate Niederhoffer & Marc A. Smith (Web 2.0 presentation 4/1/09) http://www.informationisbeautiful.net/visualizations/the-hierarchy-of-digital-distractions/ http://www.flickr.com/photos/thedalogs/3184387156/
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×