Social Media Social Business
….is a set of technologies and … is the intentional creation of
channels targeted at forming and socially calibrated and dynamic
enabling a potentially massive business systems, process and
community of participants to culture. To create enhanced
productively collaborate value exchange among
Anthony Bradley, Gartner, 7th January 2010
http://blogs.gartner.com/anthony_bradley/2010/01/07/a-new-definition-of-social-media/ constituents delivering improved
and emergent business
4. An example of communities.....
Application of Web 2.0 Created to work with a
within the enterprise. Enterprise Extended private community (e.g.
Focussed on enabling 2.0 Corporate Business partners) like
employees to interact wholesale or white label
A social application and Consumer facing Web
service for a trusted Public B2B Consumers 2.0 presence with
group – your community Trusted Focused possible integration into
of IFAs other networks
6. Social Media Landscape
Large and growing social media applications
Consumers across the demographic (18-40)
Social Networks have become a part of daily life
Financial Applications starting to emerge......
7. How is this relevant to Financial
Finance sites are sprouting everywhere....
Lead by US (although regulation is different)
Social Media sites provide online tools and services
to manage finances... And share goals
Here is an example from something in the UK....
10. Why use Social Media?
Engage and Interact with Audience/Customer
To help Marketing and Brand Development
Build Trust in your Brand and enhance reputation
Understand needs and drivers of consumers
Driver loyalty and advocacy
Input to Product Development
Social Networks Applications Blogs Monitor
11. Social Business - Characteristics
Agility User Oriented
12. Many Business Functions can be
Working in Isolation ->
Knowledge Education and Training
Management -> True Etc, etc Data is the
Information Sharing new Oil
14. Benefits of Social Business
Connect people internally and externally (e.g. expertise
Building Communities across functional areas
Breakdown organisational barriers and functional silos
Promote broader participation
Improve external brand reputation and enhance
Discover how your organisation really works
Social Media is already here!
Brands are keen to reach their customers and learn more about them
Conversations and Interactions are common outside financial services
Driven by brand, transparency, interaction
Social Business is coming too!
Enterprises must change and adapt to the new ways of working
Will improve productivity, transparency, agility, profitability.........
Integrated strategy and plan needed (and it’s not only about building communities
Companies must build a strategy, operating model and solutions
16. About Fintricity
Fintricity works with companies to help them plan
and execute their Social Media and Social Business
Fintricity delivers business aligned technology
solutions to meet that need
Fintricity provides expertise around technology,
mathematics, computer science, sociology
blended to build and deliver the right solution