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SBS Why Were Getting Social


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A presentation we developed together Saffron Building Society to demonstrate the importance of managing online brand reputation via social networking

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SBS Why Were Getting Social

  1. 1. Why we’re getting social... Michelle Monck 17 February 2010
  2. 2. “ We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten. Don't let yourself be lulled into inaction.” Bill Gates, c1999 How true is this quote?
  3. 3. Let’s go forward, before we go back... Using the internet to help people save for their dreams
  4. 4. Let’s go back, before we go forward...
  5. 8. Food Health Housing Insurance Mutuality was about building communities to share the burden of big responsibilities: The first social network?
  6. 9. A quick history lesson First building society formed Birmingham - the first social network? 1774 Permanent building societies where the society continued on a rolling basis 1830 Act passed in Parliament allowing societies to demutualise in order to compete with banks 1986 Tim Berners-Lee ‘invents’ the internet 1989 Facebook is born 2004 and everything changes...
  7. 10. <ul><li>We invest £1,000’s in our brand, our branches, web site, literature, marketing </li></ul><ul><li>We train our staff to be brand advocates </li></ul><ul><li>We have mission statements, policies, customer service guides, complaints processes… </li></ul><ul><li>Up until 2004 we could control all this </li></ul>We just lost control...big style
  8. 11. Our brands are under threat <ul><li>We’ve gone from one person telling five people about a bad experience </li></ul>To one person broadcasting to an audience of billions Social networks like Facebook and Twitter make this happen This can also have a positive effect if positive things are said
  9. 12. AOL Got People onto the Internet A look back - how the internet evolved... Yahoo organised it Google made it searchable Facebook made it social
  10. 13. How Facebook evolved... Facebook launches as network site for Harvard Business School Students Feb 2004 Facebook used by 3.5m US students in 800 colleges Dec 2005 30,000 educational institutions in US, Canada and other English speaking countries. 8m users May 2006 21 million users May 2007 ??? Today Source: BBC Source:
  11. 14. Facebook today <ul><li>11 million people in the UK use Facebook .... everyday </li></ul><ul><li>Improved search facilities and precise targeting are really challenging Google in terms of information gathering and advertising </li></ul>Source: Bigger than Google for the first time ever... Christmas Day 2009 Source:
  12. 15. Facebook today If these were High Streets – Where would you put a branch? Footfall but the right footfall Source: 25 mins per day 2 visits per day
  13. 16. Not just a youth audience 47% fall into the 25–44 year old bracket Whose using Facebook? Source:
  14. 17. The growth of micro blogging (Twitter) UK Twitter users Feb 08 - 100,000 UK Twitter users Feb 09 - 1,780,000 News consumption News generation Source: BBC Source: Alexa
  15. 18. Who uses Twitter? <ul><li>Numbers a little harder to get hold of </li></ul><ul><li>Heavy users tend to be younger males </li></ul><ul><li>All these figures are indexed against US </li></ul>Source:
  16. 19. Who uses Twitter? <ul><li>Numbers a little harder to get hold of </li></ul><ul><li>Heavy users tend to be younger males </li></ul><ul><li>All these figures are indexed against US </li></ul>Explosion!!!!!!!!!!...
  17. 20. It hits the fan for HSBC in August 2007... Source: BBC Source: The Guardian Source: Facebook “ Over the past few weeks it has exploded, with more than 2,500 graduates signed up and dozens more joining every day”.
  18. 21. How the networks interact <ul><li>Integration of different social networks is easier </li></ul><ul><li>Users engage with a number of different networks e.g. Sharing YouTube videos via Facebook </li></ul><ul><li>The Iran Election is a good reflection of this interaction... </li></ul>
  19. 22. Who uses Twitter? <ul><li>Numbers a little harder to get hold of </li></ul><ul><li>Heavy users tend to be younger males </li></ul><ul><li>All these figures are indexed against US </li></ul>Explosion!!!!!!!!!!...
  20. 23. An ‘explosion’ in 2009 in citizen journalism Sources: Facebook and Youtube 20,000 photo uploads 220,000 per hour relating to Iran Election 495,000 views 50,000 Fans in 10 days
  21. 24. And it goes on...
  22. 25. What are people doing on the internet now 2010 <ul><li>Video and blogging </li></ul><ul><li>This is where people get information </li></ul><ul><li>Peer to peer </li></ul>Source: All universal McCann 82.9% watch video online 72.8% read blogs
  23. 26. Source: comscore Watching video over the web is booming Source: Source: Mashable! Loads of new ‘tools’ that enable video sharing
  24. 27. Once the realm of the nerd, blogging is becoming more common <ul><li>Search results now include content from Facebook, Twitter and Blogs </li></ul><ul><li>You can no longer control what people see when they search for your brand. </li></ul><ul><li>Searchers can find out what people are saying about the brand (peer to peer) right now and use this information to inform their purchase decision </li></ul><ul><li>Bloggers opinion’s are ‘trusted’ </li></ul>Source: Universal McCann
  25. 28. The ‘influence economy’... Some things don’t change – the most powerful form of marketing is personal recommendation.
  26. 29. Peer to peer trust has huge influence on the purchase decision Source: Source: BazaarVoice Supporting word-of-mouth is no longer a nice-to-have – 77% of consumers seek out reviews before buying – 70% of UK consumers say reviews are the most important information
  27. 30. So what are we doing? <ul><li>We’re going to the pub </li></ul><ul><li>If you were in the pub and people were talking, or worse, complaining about the service from your building society – </li></ul>Ye Olde World Wide Pub <ul><li>Listen and then join in the conversation </li></ul><ul><li>But you’ve got to be in the pub in the first place... </li></ul>What would you do? That’s what we’re doing in social media
  28. 31. “ The internet is becoming the town square for the global village of tomorrow.” Bill Gates How true is this quote?
  29. 32. Let’s all go down to the ‘virtual pub’ and see what people are saying... Presentation written by Saffron Building Society and Brand Experience Contact Julian Steedman, Managing Director, Brand Experience. 01603 612792.