Why	  Banks	  need	  to	  become	  social.	  Isola5on	  or	  integra5on?	  	  Ma:	  Dooley	  Director,	  Connected	  Think...
Welcome	  to	  the	  Social	  Era	  
Agenda	    1.  Why	  social	  media?	  	    2.  Social	  Media	  in	  Asia	  	    3.  Cases:	  Isola5on	  or	  Integra5on?...
Why	  should	  you	  care?	  •      Over	  750m	  social	  users	  •      22%	  of	  all	  5me	  online	  	  •      #1	  a...
People	  trust	  people	  not	  ads	  •  90%	  trust	  peer	  recommenda5ons	  •  Only	  14%	  trust	  ads	               ...
People	  influenced	  by	  social	  media	  Social	  ads	  deliver!	  •  3x	  Ad	  recall	  •  3x	  Awareness	  •  4x	  Pur...
Asia	  is	  more	  social	   The	  Players	   •  Facebook	  dominates	   •  Local	  players	  dominate	      North	  Asia	...
Social	  Media	  Growth	  in	  Asia	  Social	  Media	  Growth	  •  Highest	  growth	  as	  you	     travel	  North	  Emerg...
Most	  corpora>ons	  and	  industries	  are	  very	  reluctant	  to	  enter	  into	  social	  media	  world	      	      A...
Social	  Media	  Cases:	      Forced	  par5cipants:	          1.  Energy:	  BP	          2.  Financial	  services:	  HSBC	...
BP’s	  First	  Disaster:	  Gulf	  Oil	  Spill	                                    April 20, 2010
BP’s	  Second	  Disaster:	  Social	  Response	  Q.	  What	  are	  your	  goals,	  what	  are	  you	  trying	  to	  accompl...
Fake	  TwiKer	  Account:	  Brandjacked!	                                  VS        @BP_America	                 @BPGlobal...
Viral	  success	  @	  BP’s	  expense	   Traffic	  and	  headline	  news	  in	  one	  week	   •  55,000	  Twi:er	  followers	...
They	  even	  mone>sed	  their	  success	  •  Spoof	  “BP	  cares”	     design	  •  Sell	  t-­‐shirts	  with	     proceeds...
Today,	  BP	  on	  twiKer	  • Invested	  in	  5me	    and	  resources	  	  • 32,000+	  followers	  	  • Planorm	  to	  dri...
Social	  integra>on	  on	  BP.com	  Crea5ng	  dialogue,	  ac5on,	  empathy,	  respect	  and	  community	  	  •  Richer,	  ...
on	  wide	  network	  of	  “relevant”	  sites	  Response & issue related sites          BP	  owned	  	            Relevant...
and	  woven	  into	  “new	  corporate	  DNA”	  
Social	  Media	  Cases:	     Forced	  par5cipants:	         1.  Energy:	  BP	         2.  Financial	  services:	  HSBC	  (...
HSBC	  introduces	  fees	  on	  student	  accounts	  • Promised	  free	  GBP1,500	    overdrao	  for	  1	  year	  	  • But...
Students	  set	  up	  facebook	  campaign	  
Students	  go	  public	  for	  HSBC	  to	  reconsider	  • More	  than	  5,000	    student	  go	  online	    to	  protest	 ...
HSBC	  backs	  down	  • Listens	  to	  students	  • Reverse/	  refund	  fees  	  	  	  Revised	  HSBC	  response	  “….we	 ...
Students	  1:	  HSBC	  0	  
Today,	  new	  offering	  to	  Graduates	  • Promote	  their	    Graduate	  service	    on	  UK	  social	  media	    sites	...
Social	  integra>on	  on	  hsbc.co.uk	  • Social	  Newsroom	  	  • Plus	  use	  Facebook,	    Twi:er,	  Youtube,	  Flickr	...
And	  at	  “heart”	  of	  their	  growth	  strategy	  • Rumors:	  social	    media	  is	  at	  heart	  of	    business	  g...
Social	  Media	  Cases:	     Forced	  par5cipants:	         1.  Energy:	  BP	         2.  Financial	  services:	  HSBC	  (...
First Direct: A leading social bank•  Truly	  digital	  with	  no	  branches	  •  Seen	  as	  innova5ve	  and	  customer	 ...
Social	  to	  listen	  	  
Social	  for	  insight	  and	  conversa5on	  
Social	  to	  amplify	  news	  
Social	  to	  inspire	  advocates	  
Social	  for	  more	  engaging	  ads	  
Social	  for	  brand	  engagement	  and	  teaser……	           First Direct Buddy Video
FD’s	  iPhone	  Apps	    •  First	  UK	  Bank	  to	  launch	  a	  “Bank	  on	  the	  go”	  app	  in	  January	  2011	  
Social	  for	  trust,	  respect,	  and	  results	  
Social	  for	  product	  feedback,	  sugges5ons	  and	  test	  ideas	  
Social	  Media	  Cases:	     Forced	  par5cipants:	         1.  Energy:	  BP	         2.  Financial	  services:	  HSBC	  (...
Amex	  driving	  community	  and	  business	  •      7	  million	  registered	  businesses	  •      Resources	  and	  netw...
Small	  Business	  Saturday	  A	  real	  grassroots	  movement!	  	  	   Last	  Year	  Results:	   •  41	  officials	  from	...
American	  Express	  >es	  up	  with	  Foursquare:	  “Check	  in	  and	  save”	  	  •  	  Offer	  foursquare	  users	     "...
Isola>on	  or	  Integra>on?	        1.    BP 	   	   	       	     	     	  Integra5on 	   	   	  	        2.    HSBC 	   ...
So	  what	  should	  you	  do?	             Listen	                     Act	  &	  Respond	                         Results...
Then,	  use	  social	  media	  to	  funnel	  sales	  traffic	  	             	  	             	  	         	  Connect,	  bui...
One	  final	  thought	  
ABS	  has	  launched	  a	  Facebook	  branch	  
Thank	  you!	  	  Email:	        	  ma:@connectedthinking.asia	  linkedIn:	     	  ma:hew	  dooley	  Twi:er:         	  ma...
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Matt Dooley speaking @ "The Future of Digital Finance" , a Sitecore Event in Hong Kong on 24 Nov 2011

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why banks need to use social media.

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Matt Dooley speaking @ "The Future of Digital Finance" , a Sitecore Event in Hong Kong on 24 Nov 2011

  1. 1. Why  Banks  need  to  become  social.  Isola5on  or  integra5on?    Ma:  Dooley  Director,  Connected  Thinking  Ltd  Former  Head  of  Digital  Experience,  Global  Commercial  Banking,  HSBC    Future  of  Digital  Finance  Hong  Kong,  24  November  2011  
  2. 2. Welcome  to  the  Social  Era  
  3. 3. Agenda   1.  Why  social  media?     2.  Social  Media  in  Asia     3.  Cases:  Isola5on  or  Integra5on?    Forced  Par5cipants:   •  BP   •  HSBC    Willing  Par5cipants:   •  First  Direct     •  Amex   4.  What  should  you  do?  
  4. 4. Why  should  you  care?  •  Over  750m  social  users  •  22%  of  all  5me  online    •  #1  ac5vity  on  the  web  •  Impacts  SEO  •  Impacts  credibility      Sources:  Facebook,  Neilson,  Socialnomics,  SEOmoz  
  5. 5. People  trust  people  not  ads  •  90%  trust  peer  recommenda5ons  •  Only  14%  trust  ads   Social  media  =  people   •  Connec5ons   •  Conversa5ons   •  Rela5onships  
  6. 6. People  influenced  by  social  media  Social  ads  deliver!  •  3x  Ad  recall  •  3x  Awareness  •  4x  Purchase  Intent  •  93%  of  marketers  use   social  media  for   business  
  7. 7. Asia  is  more  social   The  Players   •  Facebook  dominates   •  Local  players  dominate   North  Asia   Usage   •  North  Asia  for  video   watching/sharing     •  South  Asia  for    social   networking.   Source:  Edelman  &  Comscore  
  8. 8. Social  Media  Growth  in  Asia  Social  Media  Growth  •  Highest  growth  as  you   travel  North  Emerging  Asia  •  Mobile  driving  growth   and  ac5vity    •  More  ac5ve  on  social   sites   Source: Asian Banker Research
  9. 9. Most  corpora>ons  and  industries  are  very  reluctant  to  enter  into  social  media  world     A  genuine  fear  where  conversa5ons  are     ü  Open   ü  Not  controlled   ü  Transparent,  and   ü  Poten5ally  viral  
  10. 10. Social  Media  Cases:   Forced  par5cipants:   1.  Energy:  BP   2.  Financial  services:  HSBC  (UK)   Willing  par5cipants:   1.  Financial  Services:  First  Direct  (UK)   2.  Financial  services:  AMEX  (US)  
  11. 11. BP’s  First  Disaster:  Gulf  Oil  Spill   April 20, 2010
  12. 12. BP’s  Second  Disaster:  Social  Response  Q.  What  are  your  goals,  what  are  you  trying  to  accomplish  by  using  social  media?      
  13. 13. Fake  TwiKer  Account:  Brandjacked!   VS @BP_America   @BPGlobalPR   •  Under  7,000   •  55,000+  within  one  week  
  14. 14. Viral  success  @  BP’s  expense   Traffic  and  headline  news  in  one  week   •  55,000  Twi:er  followers  in  a  week     •  Online  ar5cles   •  TV  and  print:  Newsweek,  CNN,  Fox,  CNBC  
  15. 15. They  even  mone>sed  their  success  •  Spoof  “BP  cares”   design  •  Sell  t-­‐shirts  with   proceeds  to  the   cause  
  16. 16. Today,  BP  on  twiKer  • Invested  in  5me   and  resources    • 32,000+  followers    • Planorm  to  drive   traffic  to  BP  sites   and  other  relevant   local  sites  
  17. 17. Social  integra>on  on  BP.com  Crea5ng  dialogue,  ac5on,  empathy,  respect  and  community    •  Richer,  engaging   content  •  More  transparent   and  relevant  •  Links  to  wider   network  of  sites  
  18. 18. on  wide  network  of  “relevant”  sites  Response & issue related sites BP  owned     Relevant  non  BP  sites  
  19. 19. and  woven  into  “new  corporate  DNA”  
  20. 20. Social  Media  Cases:   Forced  par5cipants:   1.  Energy:  BP   2.  Financial  services:  HSBC  (UK)   Willing  par5cipants:   1.  Financial  Services:  First  Direct  (UK)   2.  Financial  services:  AMEX  (US)  
  21. 21. HSBC  introduces  fees  on  student  accounts  • Promised  free  GBP1,500   overdrao  for  1  year    • But  introduces  9.9%  rate   for  Graduates    Ini5al  HSBC  response  • “Every  year  the  graduate   fee  changes  so  students   can  re-­‐evaluate  their   borrowing  needs.”  
  22. 22. Students  set  up  facebook  campaign  
  23. 23. Students  go  public  for  HSBC  to  reconsider  • More  than  5,000   student  go  online   to  protest  • Daily  news  –   online,  TV,  print  
  24. 24. HSBC  backs  down  • Listens  to  students  • Reverse/  refund  fees      Revised  HSBC  response  “….we  have  taken  the  decision  to  freeze  interest  charging”  
  25. 25. Students  1:  HSBC  0  
  26. 26. Today,  new  offering  to  Graduates  • Promote  their   Graduate  service   on  UK  social  media   sites        
  27. 27. Social  integra>on  on  hsbc.co.uk  • Social  Newsroom    • Plus  use  Facebook,   Twi:er,  Youtube,  Flickr      
  28. 28. And  at  “heart”  of  their  growth  strategy  • Rumors:  social   media  is  at  heart  of   business  growth   strategy      
  29. 29. Social  Media  Cases:   Forced  par5cipants:   1.  Energy:  BP   2.  Financial  services:  HSBC  (UK)   Willing  par5cipants:   1.  Financial  Services:  First  Direct  (UK)   2.  Financial  services:  AMEX  (US)  
  30. 30. First Direct: A leading social bank•  Truly  digital  with  no  branches  •  Seen  as  innova5ve  and  customer  service  orientated    Today,  •  84%  ac5ve  digital  banking  users    •  89%  of  customer  contact  is  digital  •  53%  of  sales  are  now  online  •  UK’s  most  loved  brand!       Social  is  the  rule,  not  the  excep>on.  
  31. 31. Social  to  listen    
  32. 32. Social  for  insight  and  conversa5on  
  33. 33. Social  to  amplify  news  
  34. 34. Social  to  inspire  advocates  
  35. 35. Social  for  more  engaging  ads  
  36. 36. Social  for  brand  engagement  and  teaser……   First Direct Buddy Video
  37. 37. FD’s  iPhone  Apps   •  First  UK  Bank  to  launch  a  “Bank  on  the  go”  app  in  January  2011  
  38. 38. Social  for  trust,  respect,  and  results  
  39. 39. Social  for  product  feedback,  sugges5ons  and  test  ideas  
  40. 40. Social  Media  Cases:   Forced  par5cipants:   1.  Energy:  BP   2.  Financial  services:  HSBC  (UK)   Willing  par5cipants:   1.  Financial  Services:  First  Direct  (UK)   2.  Financial  services:  AMEX  (US)  
  41. 41. Amex  driving  community  and  business  •  7  million  registered  businesses  •  Resources  and  network  to  grow  •  Connect  peers  •  Celebrity  experts  provide  advice   and  discussion.      
  42. 42. Small  Business  Saturday  A  real  grassroots  movement!       Last  Year  Results:   •  41  officials  from  27  states   declared  it  a  holiday.   •  28%  boost  in  sales  in  stores   accep5ng  Amex   •  Largest  ever  small  business   community  on  Facebook        
  43. 43. American  Express  >es  up  with  Foursquare:  “Check  in  and  save”    •   Offer  foursquare  users   "coupon  less,  hassle-­‐free   savings  within  the   foursquare  app.”  •  AmEx  card  holders  simply   link  their  credit  cards  to   foursquare  and  deals  and   discounts  are  automa5cally   applied.  •  Ini5al  offers  @  popular   stores  (H&M)  and  some   restaurants  in  NYC  
  44. 44. Isola>on  or  Integra>on?   1.  BP            Integra5on         2.  HSBC          Integra5on   3.  First  Direct        Integra5on   4.  AMEX            Integra5on  
  45. 45. So  what  should  you  do?   Listen   Act  &  Respond   Results   •  Iden5fy  unhappy   •  Fix  problem  or  relevant   •  Be:er  customer   customers   informa5on   rela5onship   •  Iden5fy  their  pain   •  Help  your  customer   •  Improved  brand   points   •  Improve  product/service   reputa5on   •  Watch  for  customer   •  Improve  process   •  Improved  product/ complaints   service   •  Look  for  advocates   •  New  Ideas   As  a  minimum     1.  Social  Media  Monitoring  –  brands,  products,  compe5tors   2.  Iden5fy  your  social  stakeholders  -­‐  nominate  a  “Champion”  and  Commi:ee   3.  Social  Media  Policy  
  46. 46. Then,  use  social  media  to  funnel  sales  traffic              Connect,  build  rela>onships,  and  track  right  through  to  sales  
  47. 47. One  final  thought  
  48. 48. ABS  has  launched  a  Facebook  branch  
  49. 49. Thank  you!    Email:    ma:@connectedthinking.asia  linkedIn:    ma:hew  dooley  Twi:er:  ma:ldooley    

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