Social Media in a Corporate Context 2010 - Community Development

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Social Media in a Corporate Context Manchester - Keith Bennett, Lloyds TSB Commercial Finance and Andy Wood, Freestyle Interactive

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  • We run a very successful ‘lead generation’ website that was put together in the early to mid 1990 by partner agency.

    It deals with the ABL sector (Factoring, Invoice Finance etc.) & the site’s primary purpose is to generate leads for the offline sales team.


  • We wanted a ‘fresh’ look at our site with new activities that were not really available from our old Agency
    Moved to Freestyle in 2009 and launched new site in November 2009
  • Problems with getting a hosting provider – had to settle with internal hosting with staff that didn’t really understand external facing sites and the Ektron CMS system we decided to use.

    Consequences:
    Can make it slow to get things done (site updates, architecture changes, features & functions on the site)
    Can makes it hard to get all the lead & sales data we need in a timely fashion, to properly assess campaign effectiveness


  • New Agency / New website (12 mnths old)

    Financial services is traditionally a Sales orientated sector

    Online presence is focused on driving traffic to a website & converting this traffic into sales leads
    Online quote calculators
    Request for Quote forms
    Or generating Call Centre traffic


  • - Educate about products & services

  • Tailor content according to the business need

  • Quick calculators

  • Generate leads for the offline sales team – online or on the phone.

    36% increase in traffic converted to ‘Request for Quote’ on 2009



  • However, early in 2010 we discovered 10% less traffic coming to the site than previous year
    And significantly lower conversion of leads to business (because of the quality of this traffic)

    We needed to find out why?


  • In previous years we’ve relied heavily on traditional digital channels to target ‘in-market’ prospects



  • A key insight into the possible reason for the decline in traffic comes from looking at the search traffic we get to the site.

    Brand & product related search terms drive most site traffic. Our site is heavily weighted towards product content so it’s not surprising that we perform well in search for these terms.

    BUT, the people using these terms are already ‘in-market’, they’re already a significant way through their purchase decision making process.

    They already know about LTSBCF
    They already know about the Asset Based Lending market (they know the products available)...
  • If you then look at general search volume across the UK on the same topic, you see a very different picture.

    As you would expect there are far more generic search terms like ‘business loans’ than there are for specialist ABL terms.
    These are people with little or no knowledge about business finance products
    Who are probably just starting their research into the subject

    This means a significant volume of ‘in-market’ prospects, who aren’t accessing our site early in their decision making process, and instead are getting their information from elsewhere.
  • 67% of queries in the UK on this subject were at the top of the purchase funnel – they relate to informational queries around the sector.

    At the bottom of the funnel 44% of searches are informational – people who now understand the products and the offering and are ready to search on product terminology to make a decision.

    Traditionally all our efforts are focused on this 44% - missing out the 67% in the top bracket.

    We needed to think about how to reach those people in the top of the funnel, and importantly how to educate then about our products & services with authority & trust.
  • We also needed to remember that people searching on business finance terms will visit a range of sites as part of their decision making process.

    This will include brand owned and none brand owned channels, and particularly business forums & social channels which often perform well in natural search

    In short - if wanted to reach these people earlier in their decision making process we needed to:
    Create content that spoke to an audience who didn’t know anything about the products
    Expose this content (& the brand) to people through environments other than the brand site



  • We commissioned FS to look at how we could engage with these audiences more effectively
  • Conclusions - pushing out a sales messages through PPC & Affiliate programmes hoping to hit people who are in market on that day, drives a certain amount of leads.

    But, in order to tap into the wider commercial finance market we know is out there, we needed to develop a deeper relationship between prospects & the brand.

    We needed to develop familiarity, demonstrate authority & build trust in our space – in order to be top of mind at the right time.

  • Using social environments (particularly sector communities & forums) we can have a richer conversation with the audience, and on an ongoing basis – a dialogue.

    We can develop a deeper relationship over time (until the point where they do become ‘in market’ to buy)
    Building authority & trust for the brand in particular subject areas.

  • We chose to pilot using a series of forums & communities built around the Financial Services Introducer market to:

    Engage with a primary audience
    Promote the LTSBCF brand
    Influence opinions about CF products

    Finance Week – Larger Corporates
    Accountancy Age – Accountants (introducers)
    UK Business Forums – SME’s
  • Step 1 – the cover it live with Simon blogging 

    - talk about the issues we had setting up with 12 other people in the room and that we didn’t even let him type anything etc…

    Relative success of that which gained buy in of MD to do more social work

    920 attendees
  • Survey incentive:
    Win a laptop
    Get access to an exclusive white paper from Lloyds

    Provides incite into the concerns & issues in the market
    Allows us to develop targeted content (the white paper), that can be used to re-engage thru email, and reused across other sites (including ltsbcf.co.uk, and offline)

    469 people opted in to the survey

  • Example forum tab

    Generated 25 leads thru to the LTSBCF site.
  • Next step was to have a complete look at the ‘social landscape’ & develop a complete SMM strategy – which we commissioned Freestyle to do.

    A number of key lessons from this early pilot, which have fed directly into plans & strategies for later this year & into 2011.

    Content is King (you need lots of new content to keep engaging with people regularly)
    Best & quickest way to get content is from inside the business (the people who know)
    So our people need to be trained on using the channels & creating the content
    Don’t underestimate the power of social media to influence natural search
  • Problems with legal and compliance and Group Media Office (Press Office)
    Produced plans and procedures to get around it keeping everyone happy

    Creating enough content, frequently enough is not easy!

    It needs to be compliant (signed off by the right people)
    It needs to be search optimised with the right keywords
    It needs to be right for the channel where it gets posted (tone of voice & format)

    This is how we do it!
  • Here’s an example of the kind of content we can create from one approved press release or case study.
  • Decided to have a ‘full SMM activity plan’ for 2011 – show what that involves (training the exec / the marketing dept – bringing in our PR agency and their role / the FS role in this

    There’s a big advantage for the brand site in becoming a part of the network:

    Reach of our messages in as many places as possible (cheap, quick & relatively easy to repurpose & post existing content)
    Visibility of our content & the brand site in Google

    The pilot used several sector specific forums & community sites.
    Moving forward, we’ll continue to do this, but we’ll add in branded social sites (e.g. FB, YouTube, LinkedIn) Corporate blogs & external influencer blog connections too.
  • Our agency provides the strategy & planning for content & engagement with communities.

    Up to now they’ve also provided the support for creating & posting content, and managing conversations.

    Over time we need to train key people in our own business how to:
    Use the social platforms
    Create search optimised content
    Manage dialogue with people
    AND importantly what to do in a crisis situation!
  • We plan activity on a quarterly basis
    What content will be produced & how we want to use it
    The themes & priorities for engagements

    We have ‘Cheat Sheets’ that tell the people using this content how it should be used and what the framework for them to operate in is.

    We also plan FOR Crisis Scenarios!
    Considering up front all the possible operational & PR crisis that might arise
    We plan responses & procedures for these scenarios & in some cases develop content to respond in an emergency.
  • One of the first pieces of content aready available to us, and ideally suited to an online audience is AoN – explain what this is.

    Art of Nurture has it’s own site, linking to content across the Web...
  • Has it’s own Facebook page, with all the usual functions to boost community by sharing content with friends.
  • Twitter page, pushing out updates & linking to new content.

    Establishing a voice on the subject of Art & young people – not just our competition.
  • Same content shared on YouTube & Flickr – extending the reach of this content and just as importantly building link equity for search results.
  • Content as gets pushed out to Blogs & sites relevant to the topic – again extending reach & promoting link equity for search.
  • So AoN campaign adds to the network of sites which Ltsbcf is a part of – ALL promoting the visibility of our AoN & Commercial Finance content through natural search .

    Adding in lots of other content on lots of other sites over 2011 to grow the scope of this network:
    E.g.
    Client case studies/ testimonials
    Debates on the economic outlook
    Budget day debates
    Business help & advice
  • Developing relationships with out IT to ensure they get what we want – currently we have no internal access to any social site what so ever with the one exception of LinkedIn.

    Getting IT waiver through group to allow a small team of 4 within the Digital team to have access is still ongoing

    Need right people to have access to the right tools for them to use as part of their job! (e.g. Pushing out marketing content, engaging with sales leads, servicing customer queries)
  • Our expectations for 2011
  • The metrics we’re working with in the social space
  • A final thought:

    Social isn’t a campaign in the traditional sense.
    If you’re going to do it properly, in the sense of building relationships & authority on a subject, you can’t just dip in and out.
    You need to constantly monitor what’s going on so that you can engage and deal with the bad, and develop the positive, as well as develop your own voice.

    This requires investment in training, in resource, both people & equipment.

    Here’s a quick example of a brand who are taking this investment seriously, perhaps a look to the future for all brands?
  • We’d love to come back in 12 months & tell you how it went.
  • Social Media in a Corporate Context 2010 - Community Development

    1. 1. © Freestyle Interactive – www.freestyleinteractive.co.uk LTSB COMMERCIAL FINANCE SOCIAL MEDIA STRATEGIES Keith Bennett – Lloyds TSB Commercial Finance (@keith126) Andy Wood – Freestyle Interactive (@andywood171)
    2. 2. © Freestyle Interactive – www.freestyleinteractive.co.uk
    3. 3. © Freestyle Interactive – www.freestyleinteractive.co.uk
    4. 4. © Freestyle Interactive – www.freestyleinteractive.co.uk FREESTYLE INTERACTIVE
    5. 5. © Freestyle Interactive – www.freestyleinteractive.co.uk WORKING WITH I.T.
    6. 6. © Freestyle Interactive – www.freestyleinteractive.co.uk LTSBCF.CO.UK http://www.ltsbcf.co.uk/
    7. 7. © Freestyle Interactive – www.freestyleinteractive.co.uk LTSBCF.CO.UK
    8. 8. © Freestyle Interactive – www.freestyleinteractive.co.uk LTSBCF.CO.UK
    9. 9. © Freestyle Interactive – www.freestyleinteractive.co.uk LTSBCF.CO.UK
    10. 10. © Freestyle Interactive – www.freestyleinteractive.co.uk LTSBCF.CO.UK
    11. 11. © Freestyle Interactive – www.freestyleinteractive.co.uk RECESSION!
    12. 12. © Freestyle Interactive – www.freestyleinteractive.co.uk Site traffic Pay Per Click Affiliate Natural Search plus Direct
    13. 13. © Freestyle Interactive – www.freestyleinteractive.co.uk Natural Search terms for our site 0 500 1,000 1,500 2,000 2,500 3,000
    14. 14. © Freestyle Interactive – www.freestyleinteractive.co.uk Search terms in the UK 0 20000 40000 60000 80000 100000 120000 Local Monthly Searches
    15. 15. © Freestyle Interactive – www.freestyleinteractive.co.uk Decision making } } Build authority, trust & relationship Deal conversion 67% 33% Informational Transactional 44% 56%
    16. 16. © Freestyle Interactive – www.freestyleinteractive.co.uk Online Media Fragmentation Brand Website Magazine Forums Blogs Sector forums Banners Email PPC/ SEO Affiliates Direct Mail Print & Press
    17. 17. © Freestyle Interactive – www.freestyleinteractive.co.uk STRATEGY REVIEW
    18. 18. © Freestyle Interactive – www.freestyleinteractive.co.uk Social Media is big Social Media is the biggest shift in communication since the invention of the Gutenberg printing press From broadcasting your message
    19. 19. © Freestyle Interactive – www.freestyleinteractive.co.uk To listening and engaging your audience
    20. 20. © Freestyle Interactive – www.freestyleinteractive.co.uk SOCIAL ‘PILOT’ ACTIVITY
    21. 21. © Freestyle Interactive – www.freestyleinteractive.co.uk Cover It Live!
    22. 22. © Freestyle Interactive – www.freestyleinteractive.co.uk Businesszone.co.uk
    23. 23. © Freestyle Interactive – www.freestyleinteractive.co.uk Businesszone.co.uk
    24. 24. © Freestyle Interactive – www.freestyleinteractive.co.uk LESSONS / 2011 STRATEGIES 1. Content is King! 2. Developing good content 3. Training our teams 4. Power of search
    25. 25. © Freestyle Interactive – www.freestyleinteractive.co.uk Compliant Content! Content SuiteLTSBCF Sign Off Release PR 1. 2. 3. 4.Press Release created by PR agencies Content Signed off for Release Content Suites Created from Compliant Copy by Freestyle Content Released via Manual & Scheduled Methods
    26. 26. © Freestyle Interactive – www.freestyleinteractive.co.uk Compliant Content Suites 50 pre-written tweets Eg: Asset Finance helps Cornish Bakery raise working capital 5 Facebook Updates Eg: Business Finance to ease cashflow for Cornish Bakery 5 LinkedIn Group Updates Eg: Asset Financing to help Cornish Bakery’s business development 1 Adaptation per web article Video Case Study Photos with Search Terms
    27. 27. © Freestyle Interactive – www.freestyleinteractive.co.uk Become part of the network!
    28. 28. © Freestyle Interactive – www.freestyleinteractive.co.uk 1. How to use the social media platforms 2. How to repurpose & search optimise content 3. How to manage ongoing engagements 4. How to respond in crisis scenarios Training
    29. 29. © Freestyle Interactive – www.freestyleinteractive.co.uk CONTROL IN A CRISIS!
    30. 30. © Freestyle Interactive – www.freestyleinteractive.co.uk Art of Nuture
    31. 31. © Freestyle Interactive – www.freestyleinteractive.co.uk Facebook
    32. 32. © Freestyle Interactive – www.freestyleinteractive.co.uk Twitter
    33. 33. © Freestyle Interactive – www.freestyleinteractive.co.uk YouTube & flickr
    34. 34. © Freestyle Interactive – www.freestyleinteractive.co.uk
    35. 35. © Freestyle Interactive – www.freestyleinteractive.co.uk Building link equity!
    36. 36. © Freestyle Interactive – www.freestyleinteractive.co.uk CHALLENGES!
    37. 37. © Freestyle Interactive – www.freestyleinteractive.co.uk 1. Build knowledge, processes & resource inside the business 2. Change internal mindset, away from campaign mentality 3. Establish a voice for the brand 4. Build authority on key subjects 5. Deeper more meaningful relationships with our audience! 2011 Expectations
    38. 38. © Freestyle Interactive – www.freestyleinteractive.co.uk Social Media Metrics • Engagement (Follows, Likes, Re-tweets, Shares, Links...) Web Analytics • Traffic to Ltsbcf • Conversions (views on key content, requests for quote, leads) Business & Marketing • Cost per lead v. traditional digital channels Measuring success
    39. 39. © Freestyle Interactive – www.freestyleinteractive.co.uk
    40. 40. © Freestyle Interactive – www.freestyleinteractive.co.uk Follow us on Twitter: @andywood171 @keith126 www.ltsbcf.co.uk www.freestyleinteractive.co.uk

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