Finance Industry's Ticking Time Bomb


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Social media monitoring can help you get a handle on what people are saying about your brand and issues before you jump in and once you're swimming around. This is important for all industries, not just finance.

Andrew gave this presentation to the 'Social Media in Building Societies' conference at the Wellcome Collection.

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Finance Industry's Ticking Time Bomb

  1. 1. Andrew Needham Founding Partner Face Finance Industry’s Ticking Time Bomb
  2. 2. consumer landscape is changing fast
  3. 3. new business models
  4. 4. new and constant communication
  5. 5. emerging behaviours and trends openness, fairness & trust streamlining peer to peer financial advice structuring
  6. 6. money is more than just a measurement unit
  7. 7. how to stay ahead of your consumers?
  8. 8. doing things WITH not AT open exploration use the open web to harvest insights or ideas from a large number of THE WEB people on the web crowd-sourcing tap into communities of CONSUMER consumers to refine and develop COMMUNITIES insights and ideas co-creation work with the most creative and passionate consumers (the 1%ers), CREATIVE to develop finely honed ideas CONSUMERS get the community to select the best validation ideas for launch, and find ways to improve them intimate CONSUMER COMMUNITIES seamless process experts pulse in and out insights and ideas are captured throughout
  9. 9. the web as... mirror projector construction from ‘Solipsistic Branding’ | Lawes Consulting | 2007
  10. 10. add ‘social data’ identity - who I am contacts - who I know activities - what I like
  11. 11. continuous conversations, rather than Q&A or one-off discussions
  12. 12. a window into naturally occurring behaviors far less obtrusive re-introduces social context
  13. 13. a real-time stream of data
  14. 14. but there are still some open challenges: demographics geography spam sentiment sources
  15. 15. what is Pulsar? social media monitoring analysis and strategic and analysis software consultancy from Face
  16. 16. what can it do for you? audit tracker… CRM
  17. 17. how does it work? 3 1 Analytics Software analytics Web crawler tools and human searches for specific analysts process the key-phrases in a data methodical, automated manner 4 Online DB relevant pages Dashboard stored in an online live interactive database dashboard generates real-time data visualization and 2 customized reports
  18. 18. business intelligence:! See what is being said about your products and brands and What identify the major themes and issues. See, compare and contrast buzz generated over time, When identify peaks of activity against actions and events Where did these conversations happen? See which are the Where key online venues for these conversations and where around the world they are taking place Who Who is shaping the debate and who are the key influencers? Discover why conversations are happening. See whether Why what's talked about is positive, negative or neutral, and determine the impact on your business.
  19. 19. from barclays bikes to boris bikes
  20. 20. commissioned by Partnership to get a deeper understanding of their customers, purchase journey and brand perception findings taken into online community to start developing positioning & comms with consumers started with a topic audit to understand types of conversations taking place around long term care completed online analysis with a brand audit on Partnership and other key players within the long term identified hubs of care space conversations and used story tracker to identify information journey
  21. 21. Face have been engaged by O2 to monitor all social media activity around the brand in the UK and the scope and reach of provide ongoing strategic advise Pulsar is being defined on a weekly basis as the information is being shared within O2 the scope of the project covers audits on the brand & topics, tracking on the brand & specific campaigns and CRM Pulsar is feeding into insight, innovation, brand, PR and customer care within O2 Pulsar is tracking approximately 1.5 million mentions a week with Face providing analysis and strategic implications
  22. 22. develop a number of compelling themes which makes a fresh fragrance resonate with guys in a new way in only 6 weeks the final concept was co-created Face held a co-creation in and after successful New York for 2 days with testing the new variant 16 US, LATAM and English ‘Lynx Twist’ was consumers to co-create launched at the end of lots of ideas 2009 the ideas were taken to online groups in Philipines, UK, Argentina and US to optimize the top ideas from the co- creation