Social Media @ Credit Suisse

A Balancing Act between Activation and Regulation

Credit Suisse, Web Solutions – Barbara Mü...
Social Media is Changing Business and Decision-Making
From «Selling» to Connecting with the Audience

From «Large Campaign...
People Business –
Less about Technology

Credit Suisse, Web Solutions

December, 2013

3
Culture –
Transformation towards Transparency and Dialogue

Credit Suisse, Web Solutions

December, 2013

4
Private vs. Business

Credit Suisse, Web Solutions

December, 2013

5
Social Media Has the Potential to Positively Impact the Entire
Value Chain
Reach &
Coverage
Reputation &
Image

75% of the...
As a Financial Institute we are Part of a Highly Regulated
Industry
We need to Archive any employee communication on third...
Key Question

Do we want to change our culture and start sharing,
collaborating and engage in an open and transparent
dial...
Credit Suisse has set the Stage to move beyond Broadcasting
into Leveraging Dialogue and Listening
Status @ Credit Suisse
...
Credit Suisse Established a Social Media Competence Center
(SMCC) with a Global Mandate
 Organization Model:
Coordinated ...
The SMCC Provides a Framework which Allows Business and
Employees to Engage in Social Media in a Compliant Way

Guidelines...
Social Media Initiative Request Process: From Business Idea
to Final Implementation

Web STC >> Escalation and “game chang...
Every Social Media Initiative Needs to Support One of Our
Strategic Objectives…

1. Better understand our stakeholders
2. ...
… and Comply with Our Social Media Platform Strategy
Focus on category leaders as primary platforms

Select the best match...
Credit Suisse has Already Started to Leverage Social Media
Capabilities Internally and Externally

eamXchange

Social MyPa...
The Business Demand for Social Media Initiatives is High with
19 Initiatives Running and 8 Being Processed by the SMCC
Tal...
Monitoring – Sysomos

Credit Suisse, Web Solutions

December, 2013

17
Facebook – Corporate, Careers, Bonviva and Viva Presence

Credit Suisse, Web Solutions

December, 2013

18
Twitter – Corporate and APAC Presence

Credit Suisse, Web Solutions

December, 2013

19
YouTube – Corporate and Hong Kong Presence

Credit Suisse, Web Solutions

December, 2013

20
LinkedIn – Recruiting & Relationship Manager Profiles,
Company Page Updates

Credit Suisse, Web Solutions

December, 2013
...
Eqipia – Recruiting

Credit Suisse, Web Solutions

December, 2013

22
Lessons Learned so far
The business demand for social media initiatives is high – alignment with social
media platform str...
Q&A

Q&A

Q&A

Q&A

Q&A

Q&A

Q&A

Credit Suisse, Web Solutions

December, 2013

24
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«SOMshare» 2.12.2013: «Social Media @ Credit Suisse: Ein Spagat zwischen Aktivierung und Regulier» / Barbara Müry Erni

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"Social Media @ Credit Suisse: Ein Spagat zwischen Aktivierung und Regulierung"
(Barbara Müry Erni, Web Strategy, Credit Suisse)
- Einführung: Strategische Ziele, regulatorische Herausforderungen
- Social Media Governance: Social Media Competence Center, Guidelines and Trainings
- Social Media Plattform Strategie: Channel Management und Überblick über Initiativen
- Erkenntnisse & Herausforderungen

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«SOMshare» 2.12.2013: «Social Media @ Credit Suisse: Ein Spagat zwischen Aktivierung und Regulier» / Barbara Müry Erni

  1. 1. Social Media @ Credit Suisse A Balancing Act between Activation and Regulation Credit Suisse, Web Solutions – Barbara Müry Erni December 2, 2013 – SOMshare event
  2. 2. Social Media is Changing Business and Decision-Making From «Selling» to Connecting with the Audience From «Large Campaigns» to «Small Acts» 92% of the users trust peer recommendations but only 14% trust advertisements* From «Controlling the Message» to Transparency * Source: Accenture 2011 & Nielsen 2011 Credit Suisse, Web Solutions December, 2013 2
  3. 3. People Business – Less about Technology Credit Suisse, Web Solutions December, 2013 3
  4. 4. Culture – Transformation towards Transparency and Dialogue Credit Suisse, Web Solutions December, 2013 4
  5. 5. Private vs. Business Credit Suisse, Web Solutions December, 2013 5
  6. 6. Social Media Has the Potential to Positively Impact the Entire Value Chain Reach & Coverage Reputation & Image 75% of the global internet population visits social networks (Oscar, Talential, squeaker.net, 2011) 74% said “after interacting with companies or brands via new media, I generally have a more positive impression of the company or brand.“ (Consumers Demand Brand Interaction, Oct 2009) Awareness & Consideration Majority of online consumers (74%) rely on social networks to guide purchase decisions. (Gartner, 2010) Client Acquisition & Profitability Morgan Stanley case: 40% of all financial advisors had brought in new clients via social media. 60% of those with more than $1m of assets. (Morgan Stanley, 2012) Loyalty & Advocacy Fans on Facebook are 28% more likely than non-fans to continue using the brand, and 41% more likely to recommend a product to their friends (Facebook, 2011) Market Share & Bottom Line Impact 27% of the surveyed companies reported having both market share gains against their competitors and higher profit margins through engagement with Web 2.0 technologies (McKinsey, Global Survey among 3,249 Executives 2011) Credit Suisse, Web Solutions December, 2013 6
  7. 7. As a Financial Institute we are Part of a Highly Regulated Industry We need to Archive any employee communication on third-party platforms such as Twitter/Facebook Our global presences in over 50 countries have to be inline with cross boarder regulations and reflect banking secrecy We are restricted in what we can say / sell to our clients Credit Suisse, Web Solutions December, 2013 7
  8. 8. Key Question Do we want to change our culture and start sharing, collaborating and engage in an open and transparent dialogue with our clients but also within Credit Suisse? Credit Suisse, Web Solutions December, 2013 8
  9. 9. Credit Suisse has set the Stage to move beyond Broadcasting into Leveraging Dialogue and Listening Status @ Credit Suisse Dialogue Two-way communication on selected social media platforms Broadcast One-way communication on selected social media platforms Listen Real time monitoring of conversations of all stakeholders in blogs, networking platforms and discussion forums Credit Suisse, Web Solutions     Governance – ready Compliance tool – running Identify opportunities – done Pilots – work in progress   Broadcasting on e.g. Facebook, Twitter, YouTube, etc. – running   Monitoring tool – running  December, 2013 9
  10. 10. Credit Suisse Established a Social Media Competence Center (SMCC) with a Global Mandate  Organization Model: Coordinated Hub  Mandate LOB LOB LOB SMCC LOB LOB LOB LOB LOB  Tasks Core & Extended Team CORE TEAM Strategy Development Operations & Implementation Overall Coordination Education & Support Analysis EXTENDED TEAM Risk Management Evaluation & Approvals Credit Suisse, Web Solutions Permanently develop the Social Strategy Support the business across all SM initiatives Conduct measuring & reporting Develop a SM training & education framework Define & share guidelines and best practices Approve SM initiatives & global portfolio  Members Core & Extended Team CORE TEAM Web Solutions EXTENDED TEAM Risk: LCD, TRM ShS: Corp. Comms, IT December, 2013 10
  11. 11. The SMCC Provides a Framework which Allows Business and Employees to Engage in Social Media in a Compliant Way Guidelines & Policies • External Social Media Guidelines: Communication • csintra.net/socialmedia  Information and rules for all employees  Information and instructions for business engagements •  SMCC offering  Request management Policies:  Global Communications Policy  The Development and Deployment of Credit Suisse Web Sites (Global Policy) Processes • Social media initiative requests pass a standardized process • Dedicated social media advisors of the core team support the business from idea to implementation • All initiatives need to pass several approvals before going live Credit Suisse, Web Solutions  Supporting documents  Social Media Blog • Corporate News (June 6) • One Magazine (Sept. 2) Education / Training • Social Media and You video  Addressing risks for every employee and Credit Suisse  Call to action to read the guidelines • Social Media WBT for specialists  Do’s and Dont’s for social media managers December, 2013 11
  12. 12. Social Media Initiative Request Process: From Business Idea to Final Implementation Web STC >> Escalation and “game changing” requests Social Media Competence Center (SMCC) Strategy Approval Business Idea Business Concepts TB&C - Web Solutions Risk & Corp. Comms. Compliance Access Compliance Tool Compliance Training Setup Central Approval re. Brand Compliance Launch April 2013 12
  13. 13. Every Social Media Initiative Needs to Support One of Our Strategic Objectives… 1. Better understand our stakeholders 2. Raise brand and product awareness 3. Protect and enhance our reputation 4. Increase leads and conversion 5. Strengthen stakeholder relationships Credit Suisse, Web Solutions December, 2013 13
  14. 14. … and Comply with Our Social Media Platform Strategy Focus on category leaders as primary platforms Select the best matching platform per target group and activity e.g. for Private Clients: − Broadcast: − Dialogue: − Relationship: Comply with the channel strategy per platform: e.g. for Twitter: one channel per region and further channels only for specific target groups/topics assuming at least one tweet per day and for individual accounts. Credit Suisse, Web Solutions December, 2013 14
  15. 15. Credit Suisse has Already Started to Leverage Social Media Capabilities Internally and Externally eamXchange Social MyPage Communities Internal Collaboration CS Wiki Blog Alumni Network Closed Communities External Social Media Active Channels Ideation Social Q&A Credit Suisse, Web Solutions December, 2013 15
  16. 16. The Business Demand for Social Media Initiatives is High with 19 Initiatives Running and 8 Being Processed by the SMCC Talent Acquisition: 5 1 2 1 1 Reputation & Branding: 15 7 2 1 2 Client Service: 7 1 1 3 3 1 1 Credit Suisse, Web Solutions December, 2013 16
  17. 17. Monitoring – Sysomos Credit Suisse, Web Solutions December, 2013 17
  18. 18. Facebook – Corporate, Careers, Bonviva and Viva Presence Credit Suisse, Web Solutions December, 2013 18
  19. 19. Twitter – Corporate and APAC Presence Credit Suisse, Web Solutions December, 2013 19
  20. 20. YouTube – Corporate and Hong Kong Presence Credit Suisse, Web Solutions December, 2013 20
  21. 21. LinkedIn – Recruiting & Relationship Manager Profiles, Company Page Updates Credit Suisse, Web Solutions December, 2013 21
  22. 22. Eqipia – Recruiting Credit Suisse, Web Solutions December, 2013 22
  23. 23. Lessons Learned so far The business demand for social media initiatives is high – alignment with social media platform strategy challenging It is a long way from a high level idea to a detailed concept and support by the SMCC is indispensable To gather all the required risk assessments is a cumbersome process, particularly for global social media initiatives For client service initiatives risk requirements can be a major road block To define and measure meaningful KPI with the business remains a challenge It is difficult to draw a line between personal and professional employee activities Credit Suisse, Web Solutions December, 2013 23
  24. 24. Q&A Q&A Q&A Q&A Q&A Q&A Q&A Credit Suisse, Web Solutions December, 2013 24

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