BWE_NY_11_fin servpanel


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BWE_NY_11_fin servpanel

  1. 1. Rapid Fire Case Study Panel: Financial Services Doug Haslam @DougH Zena Weist @zenaweist Michel Savoie @michelsavoie Jaime Punishill @jpunishill
  2. 2. HR Block Social Media Zena Weist
  3. 3. Social Media Team Focus <ul><li>1:1 Conversation with Focus on Expertise </li></ul><ul><ul><li>GIR Community </li></ul></ul><ul><ul><li>Influencer Engagement (Blogger outreach, social site conversation) </li></ul></ul><ul><ul><li>Partnering with CSO Online Response team for online Client Issue Resolution (CIR) </li></ul></ul><ul><ul><li>Brand conversation </li></ul></ul><ul><li>Brand Reputation Management </li></ul><ul><ul><li>Monitoring Online Conversation </li></ul></ul><ul><ul><li>Crisis Management Lead for Social Media </li></ul></ul><ul><ul><li>Partnering with CSO Online Response team for online CIR </li></ul></ul><ul><ul><li>Online Communication Policy (FTC Compliant) </li></ul></ul><ul><ul><li>Social Media team leads online brand response </li></ul></ul><ul><ul><li>Weekly reports in season </li></ul></ul><ul><ul><li>Ad hoc reporting as deemed necessary </li></ul></ul><ul><li>24/7/365 Content Strategy </li></ul><ul><ul><li>Lead HRB online content strategy </li></ul></ul><ul><ul><ul><li>Brand conversation </li></ul></ul></ul><ul><ul><ul><li>Expert tax content (not just inform but engage) </li></ul></ul></ul><ul><ul><ul><li>Marketing messaging </li></ul></ul></ul><ul><li>Social Subject Matter Experts (Assist with Strategy/Tactics) </li></ul><ul><ul><li>Marketing (National & Field), HR, Legal, Compliance, Ethics, Product & Client Exp, Innovation </li></ul></ul>
  4. 4. From Multi-chatter to Brand Amplification <ul><ul><li>2:1 </li></ul></ul><ul><ul><li>1 Brand Voice </li></ul></ul>
  5. 5. HRB Online Response Process David Armano, Edelman 2010. Repurposed with permission by H&R Block.
  6. 6. Social Media Team Legal HR Product Field Com IT Marketing R&D CS Revolving Hub & Spoke Model
  7. 7. ROI & Metrics <ul><li>Client Resolution Metrics </li></ul><ul><ul><li>Resolved Issues (Service Level Agreement) </li></ul></ul><ul><li>Cost Avoidance </li></ul><ul><ul><li>Early Warning System </li></ul></ul><ul><ul><li>Call deflection through Listening (script for Call Centers) </li></ul></ul><ul><ul><li>First Contact Resolution </li></ul></ul><ul><li>Revenue </li></ul><ul><ul><li>Retail Office: Appointments Made/online </li></ul></ul><ul><ul><li>H&R Block At Home Digital Software: Units Sold/online </li></ul></ul><ul><li>Social Media Metrics </li></ul><ul><ul><li>Share of Voice, Reach, Brand Mentions, Sentiment </li></ul></ul><ul><ul><li>Followers, RTs, Likes, Influence, Shares… </li></ul></ul>
  8. 8. RBC Royal Bank Social Media
  9. 9. RBC’s Social Media History May 24th, 2011 2006 2007 2008 2009 2010 <ul><li>Next Great Innovator – Crowd sourced ideation </li></ul><ul><li>Next Great Innovator Blog </li></ul><ul><li>RBC Student Finances Podcast </li></ul><ul><li>RBC p2p: launches first Canadian FI blog directed at clients </li></ul><ul><li>YouTube: RBC’s first YouTube channel,, launches </li></ul><ul><li>Facebook: RBC launches its first Facebook Fanpage, RBC Bankbook </li></ul><ul><li>Online Banking: Ratings and Reviews launches </li></ul><ul><li>Twitter: RBC launches first Canadian FI twitter accounts, and RBCInnovator </li></ul><ul><li>Flickr: First Flickr site is launched for hosting client appreciation photos </li></ul><ul><li>First client engagement tool leveraging Twitter, is developed, enabling clients to openly comment about RBC at events </li></ul><ul><li>PR: RBC releases its first Social media Press Release </li></ul><ul><li>Twitter: RBC maintains ~10 active Twitter accounts </li></ul><ul><li>Facebook: RBC Blue Water Project launches social engagement promotion, building nearly 20 000 fans in a few weeks </li></ul><ul><li>RBC fully integrates social media into the core marketing design of the Student Fall Campus Promotion campaign, including YouTube, Facebook as well as a location based service, Foursquare </li></ul>
  10. 10. What is Social Media at RBC? <ul><li>Social Media is: </li></ul><ul><ul><ul><li>A collaboration enabler </li></ul></ul></ul><ul><ul><ul><li>An employee engagement community </li></ul></ul></ul><ul><ul><ul><li>A knowledge management community </li></ul></ul></ul><ul><ul><ul><li>An expert location resource </li></ul></ul></ul><ul><ul><ul><li>A Digital Water Cooler </li></ul></ul></ul><ul><li>Social Media is being used for: </li></ul><ul><ul><ul><li>Brand building </li></ul></ul></ul><ul><ul><ul><li>Marketing </li></ul></ul></ul><ul><ul><ul><li>Innovation </li></ul></ul></ul><ul><ul><ul><li>Sales & Business results </li></ul></ul></ul><ul><li>Founded on 3 Principles: </li></ul><ul><ul><ul><li>Risk Management </li></ul></ul></ul><ul><ul><ul><li>Engage clients and evolve our brand </li></ul></ul></ul><ul><ul><ul><li>Realize the opportunity </li></ul></ul></ul>May 24th, 2011
  11. 11. Brand Building & Marketing <ul><li>Sponsorships and Events & Community </li></ul><ul><li>Marketing </li></ul>May 24th, 2011
  12. 12. Innovation <ul><li>Leveraging Social Media to drive internal and external innovation </li></ul><ul><li>Social Media to drive knowledge management & expertise location </li></ul>May 24th, 2011 The Challenge is a way for us to not simply talk about innovation, but to live innovation LinkedIn continues to be the best tool to find talent internally.
  13. 13. Sales & Business Results <ul><li>Ultimately, every engagement needs to drive a business result. Rigor in implementation is key. </li></ul><ul><ul><ul><li>Engage the right partners to drive your strategy </li></ul></ul></ul><ul><ul><ul><li>Identify key business and legal risks </li></ul></ul></ul><ul><ul><ul><li>Develop risk mitigation strategies </li></ul></ul></ul><ul><ul><ul><li>Set project/initiative targets that align to strategic goals </li></ul></ul></ul><ul><ul><ul><li>Educate to enable action </li></ul></ul></ul><ul><ul><ul><li>Obtain stakeholder buy-in </li></ul></ul></ul><ul><ul><ul><li>Communicate and promote within your organization </li></ul></ul></ul><ul><li>Key business results </li></ul><ul><ul><ul><li>75% cost savings in media costs on a campaign to campaign basis (Students “Like” it Video Contest) </li></ul></ul></ul><ul><ul><ul><li>222% increase in service usage amongst existing clients (myFriendTracker Facebook Application) </li></ul></ul></ul><ul><ul><ul><li>200% increases month over month in Facebook Likes </li></ul></ul></ul>May 24th, 2011
  14. 14. 10 Key Considerations & Learnings <ul><li>Establish a scenario-based overview </li></ul><ul><li>Create common-sense processes </li></ul><ul><li>Build on learnings – Test and Learn often </li></ul><ul><li>Develop Guidelines </li></ul><ul><li>Educate constantly </li></ul><ul><li>Clarifying roles ahead of time </li></ul><ul><li>Ensure Ownership & Management </li></ul><ul><li>Place accountability on partners </li></ul><ul><li>Resource for Social Media </li></ul><ul><li>Measure and Syndicate results </li></ul>May 24th, 2011
  15. 15. Thomson Reuters (w/side of Citi)
  16. 16. Lessons learned <ul><li>This is a cultural transformation, understand your organization’s tolerance for openness </li></ul><ul><li>Solving for the control functions is just the keys to the car, the social engine needs fuel (content) & air (engagement) </li></ul><ul><li>Driving social behavior requires a lot of work, curation, and leadership </li></ul><ul><li>Don’t underestimate the time you’ll need to evangelize </li></ul><ul><li>Every group has to staff </li></ul><ul><li>Social business is NOT real time </li></ul><ul><li>Social business is not FREE </li></ul><ul><li>Many social business vendors are not yet ready for scalable primetime </li></ul><ul><li>Don’t underestimate how different this is from BAU (e.g. VA, Twitter API, profanity) </li></ul><ul><li>Establish two sets of metrics – social & business metrics – you must translate </li></ul><ul><li>Prepare for the worst, EARLY </li></ul><ul><li>Expect to help everyone else do their job – if you actually want it done in a way that is usable for something new like social business </li></ul>