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Why You Should Get Social

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a presentation that we developed with Saffron Building Society for a conference of Building Societies

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Why You Should Get Social

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

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