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Rising Above the Noise:         Facebook’s EdgeRank and           Solving the Trust GapAugie RayDirector of Social MediaPr...
Look! A Fan Surge!170,000160,000                                                        Bank Transfer Day150,000140,000   ...
All Fans are Not Created Equal High Value Fans           Low Value Fans+$                                       -$        ...
The Simple Facebook EquationFansA *   ∑ Ue We De   = Success                            @augieray   #bdi1
The (Slightly Less)    Simple Facebook EquationFansA *   ∑ Ue We De   * b = Success                              @augieray...
Look! Lots of Engagement!  Total Insurance Conversation        Percentage of Social Media         Volume by Brand         ...
It’s Not Just a Facebook Issue      You’re followed, but are you on Twitter lists?      You’re followed on LinkedIn, but w...
Chicken or egg?      1. Follow/Like      2. Engagement      3. Trust                  @augieray   #bdi1
The trust gap55% say “It’s hard for me to know who to trust forfinancial advice.” (2012 Household Financial PlanningSurvey...
The trust gap       Choosing a new advisor: HHs w/ $100k to $1mm         Offers products from a variety of companies      ...
Use trust that already exists                           @augieray   #bdi1
Borrow peer-to-peer trust          Fidelity’s Stock Plan Services communities          allow sponsors to discuss with peer...
Become more transparent                      @augieray   #bdi1
Build one-to-one relationships Source: July 2012 “Collaborative Advice,” Forrester Research by Bill Doyle                 ...
Build trust with contentGoal: Increase followers of Christopher Taylor, head of Financial Institutions.                   ...
Out of an abundance of“   caution, many mutual fundsand other investment companiesmay file materials on their socialmedia ...
Thank you!  Augie Ray  @augieray
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Breaking Through the Noise: Facebook's EdgeRank and Solving the Trust Gap - BDI 4.2.13 Wealth Management & Social Media Leadership Forum

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Case Study: Breaking Through the Noise: Facebook's EdgeRank and Solving the Trust Gap
Rising above the noise isn't just an issue of Facebook and EdgeRank. Five strategies Financial Service providers can use to earn trust, not just fans and followers.
Presented by: Augie Ray, Director of Social Media Strategy, Prudential

www.bdionline.com

Published in: Business
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Breaking Through the Noise: Facebook's EdgeRank and Solving the Trust Gap - BDI 4.2.13 Wealth Management & Social Media Leadership Forum

  1. 1. Rising Above the Noise: Facebook’s EdgeRank and Solving the Trust GapAugie RayDirector of Social MediaPrudential
  2. 2. Look! A Fan Surge!170,000160,000 Bank Transfer Day150,000140,000 11/19130,000 159,577120,000110,000100,000 10/22 90,000 66,353 80,000 70,000 10/20 10/23 10/26 10/29 11/1 11/4 11/7 11/10 11/13 11/16 11/19 @augieray #bdi1
  3. 3. All Fans are Not Created Equal High Value Fans Low Value Fans+$ -$ @augieray #bdi1
  4. 4. The Simple Facebook EquationFansA * ∑ Ue We De = Success @augieray #bdi1
  5. 5. The (Slightly Less) Simple Facebook EquationFansA * ∑ Ue We De * b = Success @augieray #bdi1
  6. 6. Look! Lots of Engagement! Total Insurance Conversation Percentage of Social Media Volume by Brand Conversations by TopicCompany #1 Use/Choose/Company #2 Recommend SwitchCompany #3 Not use/Drop/ Not WantCompany #4 0% 50% 100% @augieray #bdi1
  7. 7. It’s Not Just a Facebook Issue You’re followed, but are you on Twitter lists? You’re followed on LinkedIn, but who cares?It’s easy to forget that the goal isn’t to be liked orfollowed, it’s to earn attention, consideration,awareness and advocacy. @augieray #bdi1
  8. 8. Chicken or egg? 1. Follow/Like 2. Engagement 3. Trust @augieray #bdi1
  9. 9. The trust gap55% say “It’s hard for me to know who to trust forfinancial advice.” (2012 Household Financial PlanningSurvey, Certified Financial Planner Board of Standards &Consumer Federation of America)Millenials are four times more likely than baby boomers(28 percent vs. seven percent, respectively) to say theyare unwilling to act on the advice of a financial advisorwithout first consulting other sources. (Accenture) @augieray #bdi1
  10. 10. The trust gap Choosing a new advisor: HHs w/ $100k to $1mm Offers products from a variety of companies Depth of products & services Fees or commissions charged Investment track recordIndividual provides transparency & keeps me informed Individual is honest and trustworthy 0% 50% 100% Source: National Association of Personal Financial Advisors @augieray #bdi1
  11. 11. Use trust that already exists @augieray #bdi1
  12. 12. Borrow peer-to-peer trust Fidelity’s Stock Plan Services communities allow sponsors to discuss with peers: • New regulations and industry trends • Opinions of Fidelity’s products and services • Administrative best practices 45% of Fidelitys SPS client base registered to use the site @augieray #bdi1
  13. 13. Become more transparent @augieray #bdi1
  14. 14. Build one-to-one relationships Source: July 2012 “Collaborative Advice,” Forrester Research by Bill Doyle @augieray #bdi1
  15. 15. Build trust with contentGoal: Increase followers of Christopher Taylor, head of Financial Institutions. • Posted content • Banner Ads • Targeted InMail to VPs, Owners, Partners & C-level in FinServ • 700,000 ad impressions • 850+ ad clicks • 1,000 new connections in six weeks • Email had open rate of 14% & CTR of 15% @augieray #bdi1
  16. 16. Out of an abundance of“ caution, many mutual fundsand other investment companiesmay file materials on their socialmedia sites with FINRAunnecessarily. ” @augieray #bdi1
  17. 17. Thank you! Augie Ray @augieray

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