Financial Professionals: An introduction to the New Culture of Social Media Networks Presented by Jay Palter, Principal Gr...
Overview <ul><li>Primacy of search </li></ul><ul><li>Defining social media </li></ul><ul><li>Impact on business culture </...
Search
Search 93 % of consumers worldwide that use search engines to find and access websites. Source: Forrester Research 85 % of...
What does this mean? <ul><li>Eventually, everyone is “Googled” </li></ul><ul><li>Website is small part of your online pres...
Social Media:  a definition
Social Media is... <ul><li>A synthesis of new and traditional media  </li></ul><ul><li>that incorporates advertising, publ...
Driven by content media  social articles charts pictures videos ads/creative slide decks doodles comments feedback critici...
 
Focus on these...
Income demographics
Age demographics
Use  LinkedIn to... <ul><li>Be  found  by clients, prospects and colleagues </li></ul><ul><li>Establish  credibility  on s...
Use  Twitter to... <ul><li>Stay  informed  through feeds </li></ul><ul><li>Identify  influencers  and connect with them </...
Use  Facebook to... <ul><li>Build community of supporters </li></ul><ul><li>Show some  personality </li></ul><ul><li>Demon...
Why blog? <ul><li>Your blog is your publishing base </li></ul><ul><li>You publish and share to demonstrate your subject ma...
New media vs. old New media Old media Micro, many-to-many Mass, one-to-many Dialogue Monologue Open Closed
 
10 social media marketing laws <ul><li>Listen  as much as you talk. </li></ul><ul><li>Focus on a  niche  rather than try t...
10 laws (cont’d) <ul><li>Find and build relationships with  influencers . </li></ul><ul><li>Always  add value . </li></ul>...
Trust
Trust <ul><li>The ultimate customer  </li></ul><ul><li>is one who has given you  </li></ul><ul><li>his or her trust. </li>...
Trust equation <ul><li>Trust is a function of </li></ul><ul><li>C (credibility) multiplied by  </li></ul><ul><li>R (reliab...
Become a Trust Agent <ul><li>Build your credibility by... </li></ul><ul><ul><li>Creating quality content </li></ul></ul><u...
...by doing this <ul><li>Being personal… </li></ul><ul><ul><li>Sharing your personality </li></ul></ul><ul><ul><li>Showing...
 
The brand is You <ul><li>We are witnessing a revolution in personal branding: </li></ul><ul><li>Access to audience is bein...
Personal branding Stop asking what your  business  should do with social media and focus on what  YOU  should do - the res...
palter.ca /web
Influence economy <ul><li>Money can’t buy it - You have to earn it </li></ul><ul><li>People - not corps - influence people...
Barriers <ul><li>Compliance </li></ul><ul><li>Lack of control </li></ul><ul><li>Lack of time </li></ul><ul><li>Lack of kno...
 
Compliance <ul><li>Focus on credibility, relationships and trust </li></ul><ul><li>Leave transactional “heavy lifting” -  ...
Control <ul><li>You  CANNOT  control conversations, content or search results, but: </li></ul><ul><ul><li>You  CAN  partic...
Time <ul><li>Re-evaluate all your time allocations </li></ul><ul><li>Leverage your support team to help you </li></ul><ul>...
Knowledge <ul><li>Read books and blogs </li></ul><ul><li>Learn from trial and error </li></ul><ul><li>Be an early adopter ...
<ul><li>Presented by  </li></ul><ul><li>Jay Palter, Principal </li></ul><ul><li>Palter Social Media </li></ul><ul><li>web:...
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Financial Professionals: An introduction to the new culture of social media networks

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Keynote presentation by Jay Palter to national meeting of Peak Financial Group, May 11, 2011, Victoria, BC.

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Financial Professionals: An introduction to the new culture of social media networks

  1. 1. Financial Professionals: An introduction to the New Culture of Social Media Networks Presented by Jay Palter, Principal Groupe financier Financial Group National Meeting - May 11, 2011 - Victoria, BC
  2. 2. Overview <ul><li>Primacy of search </li></ul><ul><li>Defining social media </li></ul><ul><li>Impact on business culture </li></ul><ul><li>Strategic considerations for professionals </li></ul><ul><li>Overcoming barriers to entry </li></ul>
  3. 3. Search
  4. 4. Search 93 % of consumers worldwide that use search engines to find and access websites. Source: Forrester Research 85 % of qualified Internet traffic is driven through search engines. Source: Seventh WWW User Survey - Georgia Institute of Technology 75 % of search engine users who never scroll past the first page of results. Source: Seventh WWW User Survey - Georgia Institute of Technology
  5. 5. What does this mean? <ul><li>Eventually, everyone is “Googled” </li></ul><ul><li>Website is small part of your online presence </li></ul><ul><li>Social media engagement improves search engine optimization </li></ul><ul><li>End of forgetting – web content is permanent </li></ul><ul><li>Give up your need for control </li></ul>
  6. 6. Social Media: a definition
  7. 7. Social Media is... <ul><li>A synthesis of new and traditional media </li></ul><ul><li>that incorporates advertising, public relations, </li></ul><ul><li>customer service, marketing, sales, and </li></ul><ul><li>community relations. </li></ul>It’s disruptive . It’s about human sociology . It’s enabled by technology .
  8. 8. Driven by content media social articles charts pictures videos ads/creative slide decks doodles comments feedback criticism analysis sharing/curation discussion user created
  9. 10. Focus on these...
  10. 11. Income demographics
  11. 12. Age demographics
  12. 13. Use LinkedIn to... <ul><li>Be found by clients, prospects and colleagues </li></ul><ul><li>Establish credibility on subject matter </li></ul><ul><li>Research, find prospects and connect </li></ul>
  13. 14. Use Twitter to... <ul><li>Stay informed through feeds </li></ul><ul><li>Identify influencers and connect with them </li></ul><ul><li>Broaden social networks </li></ul><ul><li>Curate/share and promote content </li></ul>
  14. 15. Use Facebook to... <ul><li>Build community of supporters </li></ul><ul><li>Show some personality </li></ul><ul><li>Demonstrate compassion and show passion </li></ul><ul><li>Share </li></ul>
  15. 16. Why blog? <ul><li>Your blog is your publishing base </li></ul><ul><li>You publish and share to demonstrate your subject matter expertise </li></ul><ul><li>Blogs can be great for search engine optimization </li></ul>
  16. 17. New media vs. old New media Old media Micro, many-to-many Mass, one-to-many Dialogue Monologue Open Closed
  17. 19. 10 social media marketing laws <ul><li>Listen as much as you talk. </li></ul><ul><li>Focus on a niche rather than try to be everything to everyone. </li></ul><ul><li>Quality trumps quantity. </li></ul><ul><li>Be patient . </li></ul><ul><li>Produce quality content, build quality followers & word of mouth will do the rest. </li></ul>Source: Susan Gunelius, 10 Laws of Social Media Marketing , http://www.entrepreneur.com/article/218160
  18. 20. 10 laws (cont’d) <ul><li>Find and build relationships with influencers . </li></ul><ul><li>Always add value . </li></ul><ul><li>Try to acknowledge people who reach out. </li></ul><ul><li>Be accessible . </li></ul><ul><li>Reciprocate sharing. </li></ul>Source: Susan Gunelius, 10 Laws of Social Media Marketing , http://www.entrepreneur.com/article/218160
  19. 21. Trust
  20. 22. Trust <ul><li>The ultimate customer </li></ul><ul><li>is one who has given you </li></ul><ul><li>his or her trust. </li></ul><ul><li>Trust is earned by an overall great experience with a foundation of authenticity, open communication, knowledge and value. </li></ul>Mitch Joel – Six Pixels of Separation
  21. 23. Trust equation <ul><li>Trust is a function of </li></ul><ul><li>C (credibility) multiplied by </li></ul><ul><li>R (reliability) multiplied by </li></ul><ul><li>I (intimacy) divided by </li></ul><ul><li>S (self-orientation). </li></ul>Source: Brogan and Smith - Trust Agents Maister, Galford and Green - The Trusted Advisor T = C * R * I / S
  22. 24. Become a Trust Agent <ul><li>Build your credibility by... </li></ul><ul><ul><li>Creating quality content </li></ul></ul><ul><ul><li>Curating others’ quality content </li></ul></ul><ul><li>Be consistent and reliable by... </li></ul><ul><ul><li>Responding and being present in discussions </li></ul></ul><ul><ul><li>Sticking to it, no quitting </li></ul></ul>
  23. 25. ...by doing this <ul><li>Being personal… </li></ul><ul><ul><li>Sharing your personality </li></ul></ul><ul><ul><li>Showing what you care about </li></ul></ul><ul><li>Being a giver... </li></ul><ul><ul><li>Being helpful and generous with your time </li></ul></ul><ul><ul><li>Giving of yourself without asking for anything back </li></ul></ul>
  24. 27. The brand is You <ul><li>We are witnessing a revolution in personal branding: </li></ul><ul><li>Access to audience is being disintermediated </li></ul><ul><li>Success (celebrity and influence) is being redefined on smaller scale </li></ul><ul><li>The personal is becoming professional </li></ul>
  25. 28. Personal branding Stop asking what your business should do with social media and focus on what YOU should do - the rest will fall into place.
  26. 29. palter.ca /web
  27. 30. Influence economy <ul><li>Money can’t buy it - You have to earn it </li></ul><ul><li>People - not corps - influence people </li></ul><ul><li>People you influence become your brand ambassadors </li></ul><ul><li>Pay attention to influence measurement tools such as: </li></ul>
  28. 31. Barriers <ul><li>Compliance </li></ul><ul><li>Lack of control </li></ul><ul><li>Lack of time </li></ul><ul><li>Lack of knowledge </li></ul>
  29. 33. Compliance <ul><li>Focus on credibility, relationships and trust </li></ul><ul><li>Leave transactional “heavy lifting” - whatever you need to say to help your client make a decision - to traditional channels (meetings, phone, corporate email) </li></ul><ul><li>Archive, archive, archive (eg., Socialware, Arkovi) </li></ul>
  30. 34. Control <ul><li>You CANNOT control conversations, content or search results, but: </li></ul><ul><ul><li>You CAN participate in dialogue </li></ul></ul><ul><ul><li>You CAN inspire about your brand </li></ul></ul><ul><ul><li>You CAN respond, reply and engage </li></ul></ul>
  31. 35. Time <ul><li>Re-evaluate all your time allocations </li></ul><ul><li>Leverage your support team to help you </li></ul><ul><li>Put in some “after hours” time </li></ul><ul><li>Outsource strategy and implementation support </li></ul>
  32. 36. Knowledge <ul><li>Read books and blogs </li></ul><ul><li>Learn from trial and error </li></ul><ul><li>Be an early adopter </li></ul><ul><li>Overcome your fear </li></ul>
  33. 37. <ul><li>Presented by </li></ul><ul><li>Jay Palter, Principal </li></ul><ul><li>Palter Social Media </li></ul><ul><li>web: http:// palter.ca /web </li></ul><ul><li>email: [email_address] </li></ul><ul><li>Twitter: http://twitter.com/jaypalter </li></ul><ul><li>mobile: 780-868-8433 </li></ul>

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