Project: SEB Student`s Bank Social Media StrategyCategory: DIGITAL COMMUNICATIONSummaryA wise man has said: “The ones who change shall survive!” It refers to practicallyanything, to the Internet as well.In May 2010 SEB Student’s Bank started activation of social media on the largestsocial media network of Latvia - draugiem.lv. The target was to finish up with SEBStudent’s Bank Internet site www.studentabanka.lv and transfer its content to theplatform of draugiem.lv, thus forming long-term communication with the youthaudience of draugiem.lv; it was intended to create the content on the basis of SEBsponsored activities, not promoting a separate media budget.With a small presentation campaign in the first week of activity, nearly 2000supporters joined the profile of SEB Student’s Bank; it was a serious step towards theimplementation of social media strategy.In October we started more broader initiative in the profile of SEB Student’s Bank –the campaign Riga’s Smartest Teacher 2010; its purpose was to establish the mostpopular teacher of the Latvian capital city. The campaign resulted in more than 8000new profile users of SEB Student’s Bank.At the end of 2010 more than 12 000 users of draugiem.lv had visited the profile ofSEB Student’s Bank. In November SEB Student’s Bank ranked Nr.3 in the topcorporate profiles.SituationInstead of using social media for the increase in the number of expositions of SEBStudent’s Bank homepage www.studentabanka.lv or creation of marketing messagesonly, the decision was to resettle to social media.
ObjectivesSEB Student’s Bank integrated with the social media draugiem.lv, has the followingaims: to establish long-term communication with the youth audience of draugiem.lv; tobecome a youth media which would be interesting enough to lend an ear to in orderto enhance loyalty to the SEB Student’s Bank brand and Bank services.StrategyBefore engaging in social media, key guidelines were developed to get anunderstanding of the new environment.Partially SEB Student’s Bank strategy was based on a research, displaying themotivation of the target audience (youth between ages of 16 and 24) to follow acertain brand in the social media. The research testified that our target audiencewants to get discounts and participate in promotional campaigns, to haveentertainment and fun, as well as receive information about the company activities.Another key guideline for SEB Student’s Bank strategy was to create the content. Thecontent was mainly based on the bank sponsored activities and implementation ofprojects.The third item was to establish a client service centre in the environmentof draugiem.lv, where supporters of SEB Student’s Bank might get advice and settleBank-related issues.ExecutionIn May 2010, on establishing the profile of SEB Student’s Bank, the first presentationcampaign with the souvenirs of a popular TV show at that time – puffs of O! KartesAkadēmija - was launched.Several photo and idea contests were organised to maintain the interest of SEBStudent’s Bank supporters. To give pleasure to supporters, the most active and loyalones received SEB Student’s Bank sunglasses and other souvenirs.In October SEB Student’s Bank launched its major and most successfulProject Riga’s Smartest Teacher 2010; the purpose of event was to establish themost popular teacher of the Latvian capital city. The campaign resulted in more than8000 new profile users of SEB Student’s Bank.
Maintaining long-term interest in a brand in social media requires immense work - diverse large amount content shall be developed regularly. To attract attention to a brand in social media, time must be devoted every day. SEB Student’s Bank social media strategy is still being supplemented and adapted to the needs of target audience. New and new solutions and methods are searched to improve SEB Student’s Bank profile at draugiem.lv. Documented Results With the media budget of LVL 0.00 more than 11 000 supporters or homepage fans within a nearly eight- month period! The Project Riga’s Smartest Teacher has gained wide publicity and responsiveness, attracting more than 8000 new profile users. With the accomplishment of the Project Riga’s Smartest Teacher 2011 the interest about SEB Student’s Bank is still expanding – by the end of 2010, 11 165 users had joined the profile. At the end of 2010 SEB Student’s Bank was the third most popular brand at the social network draugiem.lv. In everyday life users actively participate in polls, photo and idea contests, use SEB Student’s Bank discount coupons, as well as communicate within the social network site SEB Student’s Bank at draugiem.lv about the issues of Bank services.Name of the link URLSEB Student`s Bank www.draugiem.lv/studentabanka