Social Media- How to be Compliant and Competitive (Windy City Summit)

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This presentation was given by Dean DeLisle at the Windy City Summit. Presentation teaches how to use social media sites to promote yourself while in compliance with banking industry standards.

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  • Social Media- How to be Compliant and Competitive (Windy City Summit)

    1. 1. (877) 59 - COACH (592-6224) Social Media How to beCompliant and Competitive
    2. 2. (877) 59 - COACH (592-6224) Social Media How to be Compliant and Competitive Dean DeLisle• Founder and CEO of Forward Progress, Inc.• Train and Coach over 2,000 people a month• Trained and Coached over 50,000 in Social Network Skills• Over 30 years in Business Coaching, Consulting, and Training• Started Career at Merrill Lynch - 1981• Community Building, Social Networking, Social Media, Internet, eMarketing, Lead Generation, eDu-selling, eLearning, eSelling• Over Two Billion Dollars in Sales, over 100 Million Leads, Helped Thousands of People using Internet Based Leads• Financial Services, Banking, Insurance, Real Estate, Professional Services, Legal, Accounting, Telecommunications, Technical, Agencies, Auto, Retail, Educational and Channel Sales…..
    3. 3. (877) 59 - COACH (592-6224)Accelerated Learning• Less Time – Learn More• Paired Share – Timed• Raise Hand – Close Mouth
    4. 4. (877) 59 - COACH (592-6224)The Changing Landscape • The Market • The Banking Industry • The Client
    5. 5. (877) 59 - COACH (592-6224)• Immediacy• Frequency• Longevity The Client• Give to Get• Genuine interest, in-depth knowledge• Enjoyment and fun• Instant information access• Authenticity
    6. 6. (877) 59 - COACH (592-6224) The Issue with Social Networks Connections Postings Links Updates Website Integration Controlled by People NOT Companies!
    7. 7. (877) 59 - COACH (592-6224) Current Use of SocialNetwork Communication?• Blogs• Articles• Postings• Status Updates• Emails• VideoPhoto• Links
    8. 8. (877) 59 - COACH (592-6224) Why Online Social Networks?• Interactive• People Respond Better• Builds Trust• Builds Community• Viral Activity• Sharing
    9. 9. (877) 59 - COACH (592-6224) Social Networks We Already Know• Ourselves• Your Bank• Windy City Summit• CityCountry Clubs• Chambers• Industry Clubs• Organizations• Charities• ReligiousHealth• Network Groups• LinkedIn Groups
    10. 10. (877) 59 - COACH (592-6224) Social Networks We Already Know• Trusted colleagues• Like-minded people hanging out• Similar friends and associations• You have more “Things” in common• Similar “Beliefs”• Recommended “IN”
    11. 11. (877) 59 - COACH (592-6224) How Many Contacts Do You Have That You Cannot See?• That know YOU? Networking• That trust YOU? Beyond One-to-One• That have done business with YOU?• That would recommend YOU? Dean Sue Pat Mark
    12. 12. (877) 59 - COACH (592-6224)
    13. 13. (877) 59 - COACH (592-6224) Growing Numbers• More than 900 million monthly active users.• More than 526 million daily active users.• More than 300 million photos uploaded per day.• More than 500 million active users on mobile.• More than 3.2 billion Likes and Comments generated by Facebookusers per day• More than 42 million Pages with ten or more Likes.• Most popular page is Facebook with 67,088,969 Likes.• The second most popular page is Coca-Cola with 42,077,190 Likes.• More than 20 million people become fans of Pages each day• Pages have created more than 5.3 billion fans
    14. 14. (877) 59 - COACH (592-6224)2012 LinkedIn Stats - Growing • LinkedIn has over 180 Million Members • Average user has 240 “Connections” • One degree from over 35,000 “Trusted Connections” • Two degrees from over 3,200,000 “Trusted Connections” • 1 million new members a week • 17.8 million members belong to groups • 1.2 million comments and posts to groups weekly • 2 billion people searches annually • 1 million companies have a company page OVER 1,000 to 1
    15. 15. (877) 59 - COACH (592-6224)What We (Banks) Want
    16. 16. (877) 59 - COACH (592-6224)What We (Banks) Want
    17. 17. (877) 59 - COACH (592-6224)Regulatory Compliance Items1. Privacy- The Gramm Leach Bliley Act (GLBA) protects the personal information of its customers from being released.2. Informal Posts May Be “Advertising”- They consider a message that “is designed to attract public attention or patronage to a product of business,” an advertisement. It is narrowed down to “directly or indirectly, a credit transaction” and “that promotes directly or indirectly the availability or terms of. . . a new or existing account.”3. Required Advertising Statements- The FDIC requires an official statement and/or the FDIC logo be used. Banks advertising loans for housing must use the “equal housing lender logo type” and/or statement expressing their equality. The National Credit Union Administration (NCUA) requires an official advertising statement from its members in advertising and on their website.4. False and Deceptive Advertising- The Bureau of Consumer Financial Protection has the authority to stop “unfair, deceptive or abusive acts or practices” in regards to consumer financial products and services.
    18. 18. (877) 59 - COACH (592-6224)Regulatory Compliance Items5. Endorsements- The FTC „s guidelines with endorsements and testimonials in advertising are in compliance with the FTC Act. It requires all endorsers to be clear with their relationship to that financial institute. This also must be stated that when an employee posts a comment they are employees of said financial institute. The endorsement must only tell typical results.6. Securities Laws- Employees can be in danger of breaking security laws by releasing information only permitted by licensed brokers, releasing it too soon which would make the information false, or partaking in insider trading.7. Advertising Consumer Credit- The Truth in Lending Act guarantees that the consumer credit and lease terms are clearly laid out in advertisements. This allows consumers to evaluate the terms and make sure they are getting exactly what they need for credit. When financial institutes discuss with customers via Social Media the Truth in Lending Act must be applied with records of this interaction to be held on to for two years.
    19. 19. (877) 59 - COACH (592-6224)Regulatory Compliance Items8. Advertising Deposit Accounts- The Truth in Savings Act pertains to any commercial message which endorses deposit accounts. It requires all information to be accurate and restricts the terms “free” or “no cost” and like phrases if there is a possibility of any maintenance or activity fee9. Loan Application Communications- The Equal Credit Opportunity Act protects people from being discriminated against for approved loans based on “race, color, religion, national origin, sex, marital status, age, or because an applicant receives public assistance”. All forms of communication (including Social Media) related to a loan application be held on to for 25 months.10. Communications Regarding Community Reinvestment- The Community Reinvestment Act was put in place so that depository institutions would meet the credit necessities for the people in the community. All communication in regards to what the community is looking for, as far as credit needs, must be kept on file for two years.
    20. 20. (877) 59 - COACH (592-6224) The Issue with Social Networks Connections Postings Links Updates Website Integration Controlled by People not Companies!
    21. 21. (877) 59 - COACH (592-6224)People Compliance Items• Behavior - Code of Conduct• Communication Expectations – Personal and Business• Regulatory Compliance Reference• Social Media Guidelines - Rules of Engagement• Contractors and Endorsements• Moderation Guidelines • Pre-moderation • Community moderation • Balanced online dialogue• Best Practices• Training and Support• Exceptions• Changes• Enforcement
    22. 22. (877) 59 - COACH (592-6224)People Compliance Items• Social Media Guidelines - Rules of Engagement • Be transparent • Be judicious • Write about what you know • Perception is reality • It‟s a conversations • Are you adding value? • Your responsibility • Create some excitement • Be a leader • Mistakes • Pause before you move
    23. 23. (877) 59 - COACH (592-6224) 5 Steps to SuccessfulOnline Community Building
    24. 24. (877) 59 - COACH (592-6224) Step 1 – Look Good Complete Profile Be Clear  What will you do for others?  Why & How?  What do you wantneed?  Worth $4,000,000 Peer Review
    25. 25. (877) 59 - COACH (592-6224)Step 1 – Look Good
    26. 26. (877) 59 - COACH (592-6224)#1 Lets Make Sure – Look Good
    27. 27. (877) 59 - COACH (592-6224) Look GoodControlled and Guided PRIVATE PUBLIC PERSONAL BUSINESS Locked Down & Training
    28. 28. (877) 59 - COACH (592-6224)Step 2 – Get Found
    29. 29. (877) 59 - COACH (592-6224) Step 2 – Get Found Your Personal Business Keywords
    30. 30. (877) 59 - COACH (592-6224)Step 3 – Training the Team to “Be”1. Be Compliant2. Behave - Responsible3. Be in Community4. Be Social5. Be Efficient - Online only 20 Minutes a Day
    31. 31. (877) 59 - COACH (592-6224)Your Social Results Plan
    32. 32. (877) 59 - COACH (592-6224) Step 4 – Connecting• Are you on LinkedIn?• Is it okay if we connect?
    33. 33. (877) 59 - COACH (592-6224) Step 4 – ConnectingThink about how this works!
    34. 34. (877) 59 - COACH (592-6224)Step 4 – Connect - Ask
    35. 35. (877) 59 - COACH (592-6224)Step 5 – Interaction
    36. 36. (877) 59 - COACH (592-6224)Step 5 – Interaction
    37. 37. (877) 59 - COACH (592-6224)
    38. 38. (877) 59 - COACH (592-6224)Step 5 – Interaction - Groups Two Exchanges Maximum then Transfer them Offline!
    39. 39. (877) 59 - COACH (592-6224)Step 5 – Interaction - Groups
    40. 40. (877) 59 - COACH (592-6224)Step 5 – Interaction - Groups
    41. 41. (877) 59 - COACH (592-6224)
    42. 42. (877) 59 - COACH (592-6224)Facebook – Likes & Offers
    43. 43. (877) 59 - COACH (592-6224)Watch and Listen
    44. 44. (877) 59 - COACH (592-6224)Social Networks - Success • Create a Policy • Create Guidelines • Look Good Together • Training • Not just Technical! • WatchListen • Coaching Support
    45. 45. (877) 59 - COACH (592-6224)
    46. 46. (877) 59 - COACH (592-6224) Contact Us Connect WITH Us! dean@forwardprogress.netTWITTER: www.twitter.com/deandelisleFACEBOOK: www.Facebook.com/deandelisle/FAN PAGE: www.Facebook.com/ForwardProgressLINKEDIN: www.linkedin.com/in/deandelisle Call (877) 592-6224 www.ForwardProgress.NET

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