On October 23rd, 2014, we updated our
By continuing to use LinkedIn’s SlideShare service, you agree to the revised terms, so please take a few minutes to review them.
Social Media In Financial Services Lee Provoost HeadshiftPresentation Transcript
Social Customer Self Service
in financial services sector
Lee Provoost, Technology Strategy at Headshift
Social Media in Financial Services
13 January 2010, London
Headshift, part of the Dachis Group
smarter > simpler > social >
Headshift is Europe's leading
social business consultancy.
We help organisations use smarter,
simpler, social technologies to improve
business performance, communication
and employee engagement.
London | Sydney | Austin
Social Customer Self Service
What’s in it for me?
“... study of the Lenovo community noted a
20% decline in the rate of call volume
comparative 2007 to 2008 time periods ...”
Lower TCO of support.
Faster response time.
Scalability in peak situations
Fidor Bank AG
Banking with friends
Matthias Kroner, CEO Fidor: “It is the people who are the bank.”
People powered mobile network
giffgaff - the people powered mobile network
Marketplace for Social Lending
People lend and borrow money with each other, sidestepping the banks.
• Reduced cost in dealing with customer contact
• Greater reach when interventions are made
• Gradual creation of a knowledge base, co-created by members
• Generation of interesting data for customer care, marketing and PR
User generated content, ambassadors and 1/9/90 rule
The intentional creation of a community
• Set the tone of the boards.
• Welcome new users.
• Thank users for contributions.
• Summarise discussions.
• Act as the face of the brand.
• “social media junkies”
• ex-community leads
• Customer care
• Technical support team
Enjoy engaging with customers!
Return On Investment
Show me the money
Natalie and Forrester modelled some ROI estimates on a hypothetical company
with 500,000 customers that receives approximately 30,000 calls per month.
In the report, she calculates that over a three-year time frame, such a typical
company will probably need to invest approximately $1.2 million for a well-
functioning online customer service community.
The estimated payback in benefits will be seen within the first year, Forrester
estimates. The analyst firm’s model suggest that the first-year outlay for the
hypothetical company will total about $500,000 in start-up costs, but will return
about $900,000 in benefits. Benefits will continue to accrue at about $900,000
a year in the years after than, while annual costs will run about $400,000.
Forrester Research - The ROI of Online Customer Service Communities
Everyone is an ambassador now
The bigger picture
Customer Community Platforms
Overview with some of their high profile clients
Jive Social Business Software
Awareness Social Media Marketing
Q&A + Contact details
Technology Strategy at Headshift
London SE1 2NQ