Social Media for FinancialServices Providers: How toEngage with IFAs online(Slide copy version)             Philip Calvert...
Introductions• Who are you?• Your current biggest  marketing challenge?• What appeals to you about  Social Media?• How are...
Philip Calvert• 34 years in Financial Services; 25  with Providers• 9 consulting and building  communities online• Social ...
What should be lesson number 1 forthe Providers here today?• You’re late!• Stop talking, start listening• Join in with the...
What should be lesson number 1 forthe Providers here today?• Social Media is just one channel and will only  be useful if ...
[Source: unknown]
Why is Social Media important?
Why are firms resistant to using SocialMedia – internally and externally?   •   Risk   •   Fear   •   Reputation and Brand...
Imagine...    • If your company hadn’t adopted email    • If you didn’t have a website    • If your sales people hadn’t be...
Change…  Just imagine…
Social Media explained          Forget “Social Media”.       Remember Image, Identity and         Reputation Management.
Social Media explained           Forget “Social Media”.       Remember Image, Identity and         Reputation Management. ...
Image Management tools •   Google Places •   YouTube •   Blog •   LinkedIn •   Facebook •   Twitter •   Google + •   Ecade...
The Pitfalls of Social Media
The problem with customers    •   They have too many choices    •   You don’t stand out enough    •   They don’t have enou...
Perceptions of IFAs and the Industry  “I don’t like my financial adviser.  Apart from the fact that he has  grey hairs sti...
Perceptions of IFAs and the Industry  “I don’t like my financial adviser.  Apart from the fact that he has  grey hairs sti...
Financial Advisers struggling to get noticed • 29% believe their knowledge is as good                                     ...
Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a dis...
Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a dis...
Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a dis...
Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a dis...
Financial Advisers struggling to get noticed • Consumers still want access to their expertise • They don’t always want to ...
Financial Advisers struggling to get noticed • Consumers still want access to their expertise • They don’t always want to ...
Tell us something we don’t already know
Tell us something we don’t already know
Tell us something we don’t already know
Tell us something we don’t already know
Differentiate or Die
What are you doing to get noticed?
Your Differentiation Plan • In the industry • In your community • In your niche    Your most powerful differentiator is...
YOU!
How do consumers findand choose an IFA?
The key marketing elements post RDR•   Credibility•   Clarity•   Trustworthiness•   Differentiation•   Appealing (Irresist...
Social Media – all about Marketing?
Social Media – all about Marketing?•   To listen•   Improve knowledge•   Share best practice•   Thought leadership•   Netw...
Social Media – all about Marketing?                               •   Cement relationships•   To listen                  •...
“Our greatest asset is our staff”
“Our greatest asset is our staff”"The use of workers to humanize corporate entities has been a         time-honored market...
But do we trust them enough to  allow use of Social Media to      communicate with:         Customers        Stakeholders ...
How do staff/employees/colleaguescurrently communicate? •   Email •   Face to face •   Telephone/SMS/BBM •   Skype and Vid...
Social Media – internal benefits•   Better engagement = better    performance                     •   Competitions•   Enga...
Social Media – internal benefits• Don’t accept “No” for an  answer from Management       •   Better engagement = better   ...
Social Media – identifying BrandAmbassadors                                    •   They ‘get’ and use Social Media• Good c...
Points to think about• Social Media policy throughout                                    •   Everyone is an ambassador• Gu...
www.ifalife.com
How to Leverage LinkedIn
What is
What is•   May 2003•   175m users. 2 members per second        • A HUGE mine of data.•   200 countries, 10 languages      ...
Active user     Name                  accountsFacebook         750 millionTencent QQ       674 millionQzone            480...
Why are you on LinkedIn?•   Find contacts•   Find likeminded•   Share contacts•   Highlight expertise•   Shape your person...
Why are you on LinkedIn?•   Find contacts               • Share status•   Find likeminded                                •...
Why are you on LinkedIn?• Find contacts   – Don’t be lazy when     connecting!   – Personalise your     message
Invest time in your Profile •   People Search Engine •   Looking for contacts & expertise – not friends! •   Professional ...
Invest time in your Profile                              Art Flater
Invest time in your Profile“Specialties: Exceptionally good with sarcastic,smart ass remarks.”“Able to sit in my chair for...
Invest time in your Profile“Sat on my chair and bitched at sales reps.”“Sometimes I make a sales call.”“Went to lunch a lo...
Invest time in your Profile• Check visibility > Philip’s Activity > edit
Invest time in your Profile• Check visibility > Philip’s Activity > edit
Invest time in your Profile • Monitor your profile
Invest time in your Profile        Pro tip: Thank people who look at your profile
...as a Search Engine.
Search: IFA
Search:FinancialPlanner
Profile• Decide your keywords – Very important• Add them to these key profile sections:   –   Headline                    ...
Note the keywords in name and summary
1. Note the keywords
1. Note the keywords2. Customise your profile URL
Add keywords near the top of yourSummary section
Include keywords in your Specialties
Include keywords in the Experience section
Show yourhuman sideby addingnon-workinterests –plus acouple ofkeywords ofcourse!
Contact Tina Include a couple of keywords in your Contact details too
Contact Art  Humour works too!
Profile add ins• Applications                      • More Applications   –   Events                           –   Company ...
Events
Events
EventsChoose EventKeywords
EventsFirst pageGoogle results
PresentationsPulls in yourpresentationsfromSlideShare
Skills         Add Skills to your profile. LinkedIn will show         you a wealth of related resources...
Skills
Skills – Art Flater
Profile add ins• Applications                      • More Applications   –   Events                           –   Company ...
Companies
Companies • Build followers by   – Adding value   – Engaging   – Informing • They may never become customers... • But are ...
Companies • Promote your company page   – Phone   – Email   – Letters   – Business cards   – LinkedIn group   – Facebook e...
CompaniesFollow button for your website, blog etc
Companies            Status Updates of 500 characters
Companies
Companies            Status Updates of 500 characters
Companies   Measure what works
CompaniesPro tips• Keep it short                 • Test what works• Occasionally ask questions       –   Topic types      ...
Companies                    Measure what worksAlso:Compare against similar companiesCheck your website visits from LinkedIn
Answers     A powerful way to prove your expertise• More tab > Answers• Enhance and recognise perception of  expertise
News            Personalised news based on your profile page• News tab at top• Personalised –  suggested categories   –   ...
News   Personalised news based on your profile page
Groups• Build your own Social Network  and Community around you• Join (50) and/or create your own• Groups tab > Groups you...
Apps and Misc
Apps and Misc
Apps and Misc
Apps and Misc
Apps and Misc
Apps and Misc
Stuck?• Learning centre: http://learn.linkedin.com/• Under the ‘More’ tab
Social Media ConferenceSpeaking and Consultancyphilip@ifalife.comwww.ifalife.comwww.philipcalvert.com@IFALife@PhilipCalvert
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
Social Media for Financial Services Providers:  How to Engage with IFAs and Financial Advisers online (Sept 2012)
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Social Media for Financial Services Providers: How to Engage with IFAs and Financial Advisers online (Sept 2012)

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How Financial Services brands: life, pension, investment and protection providers can use Social Media, LinkedIn and conversational marketing to engage with IFAs and financial advisers online.

Contact Philip Calvert for information on conference speaking, in-house training and consultancy for Financial Services and regulated industries.

http://www.philipcalvert.com and http://www.ifalife.com

Published in: Business, Economy & Finance
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  • Thanks for sharing Philip, very helpful. Some of our IFA clients were given social media training courses to gain their trust and confidence for them to realise the wonders of what social media can bring to their businesses.
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Social Media for Financial Services Providers: How to Engage with IFAs and Financial Advisers online (Sept 2012)

  1. 1. Social Media for FinancialServices Providers: How toEngage with IFAs online(Slide copy version) Philip Calvert IFA Life #SocialMediaFS www.ifalife.com www.philipcalvert.com
  2. 2. Introductions• Who are you?• Your current biggest marketing challenge?• What appeals to you about Social Media?• How are you using it?• Concerns?• Fun outside work?
  3. 3. Philip Calvert• 34 years in Financial Services; 25 with Providers• 9 consulting and building communities online• Social Media• Surrey• Kickboxing and Photography
  4. 4. What should be lesson number 1 forthe Providers here today?• You’re late!• Stop talking, start listening• Join in with the online conversation, don’t sit on the sidelines• It’s not a silver bullet for all your communication issues• Stop talking about Social Media; start doing it
  5. 5. What should be lesson number 1 forthe Providers here today?• Social Media is just one channel and will only be useful if the people you want to communicate with are engaged• Show your human side rather than a bland and faceless corporate image• Trust your staff• Get a presence and start interacting with your audience
  6. 6. [Source: unknown]
  7. 7. Why is Social Media important?
  8. 8. Why are firms resistant to using SocialMedia – internally and externally? • Risk • Fear • Reputation and Brand • Time wasting • Compliance • Fear of loss of control • Internal comms jobs • Education gap
  9. 9. Imagine... • If your company hadn’t adopted email • If you didn’t have a website • If your sales people hadn’t been given mobile phones
  10. 10. Change… Just imagine…
  11. 11. Social Media explained Forget “Social Media”. Remember Image, Identity and Reputation Management.
  12. 12. Social Media explained Forget “Social Media”. Remember Image, Identity and Reputation Management. LinkedIn is a key component of your Trust Development Toolkit.
  13. 13. Image Management tools • Google Places • YouTube • Blog • LinkedIn • Facebook • Twitter • Google + • Ecademy • Pinterest • Slideshare • EventBrite • Foursquare • Phone App
  14. 14. The Pitfalls of Social Media
  15. 15. The problem with customers • They have too many choices • You don’t stand out enough • They don’t have enough time • The Internet is seen as a shortcut • You don’t stand out enough online
  16. 16. Perceptions of IFAs and the Industry “I don’t like my financial adviser. Apart from the fact that he has grey hairs sticking out of his nose, I don’t believe a word he says and I don’t trust him.”
  17. 17. Perceptions of IFAs and the Industry “I don’t like my financial adviser. Apart from the fact that he has grey hairs sticking out of his nose, I don’t believe a word he says and I don’t trust him.” “Every time he comes round he tries to sell me a policy and I always do what he says because I feel I ought to.”
  18. 18. Financial Advisers struggling to get noticed • 29% believe their knowledge is as good Compeer March 2009 Financial DIY Report
  19. 19. Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a disguise for ‘sales’ Compeer March 2009 Financial DIY Report
  20. 20. Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a disguise for ‘sales’ • 38% don’t believe advisers add enough value to justify their fees Compeer March 2009 Financial DIY Report
  21. 21. Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a disguise for ‘sales’ • 38% don’t believe advisers add enough value to justify their fees • 44% view the Internet as ‘an essential source of financial information and advice’ Compeer March 2009 Financial DIY Report
  22. 22. Financial Advisers struggling to get noticed • 29% believe their knowledge is as good • 34% believe that ‘advice’ is a disguise for ‘sales’ • 38% don’t believe advisers add enough value to justify their fees • 44% view the Internet as ‘an essential source of financial information and advice’ But... Compeer March 2009 Financial DIY Report
  23. 23. Financial Advisers struggling to get noticed • Consumers still want access to their expertise • They don’t always want to meet them – Permanent Insurance
  24. 24. Financial Advisers struggling to get noticed • Consumers still want access to their expertise • They don’t always want to meet them – Permanent Insurance • Are Financial Planners, Solicitors and Doctors under threat from the Internet?
  25. 25. Tell us something we don’t already know
  26. 26. Tell us something we don’t already know
  27. 27. Tell us something we don’t already know
  28. 28. Tell us something we don’t already know
  29. 29. Differentiate or Die
  30. 30. What are you doing to get noticed?
  31. 31. Your Differentiation Plan • In the industry • In your community • In your niche Your most powerful differentiator is...
  32. 32. YOU!
  33. 33. How do consumers findand choose an IFA?
  34. 34. The key marketing elements post RDR• Credibility• Clarity• Trustworthiness• Differentiation• Appealing (Irresistible)• Advocates• Personalised
  35. 35. Social Media – all about Marketing?
  36. 36. Social Media – all about Marketing?• To listen• Improve knowledge• Share best practice• Thought leadership• Networking/Relationships• Search engines/traffic• Collaboration• Engage• Comment/share expertise• Add value/contribute to discussions
  37. 37. Social Media – all about Marketing? • Cement relationships• To listen • Brand loyalty and buzz• Improve knowledge • Customer service• Share best practice • Identify influencers• Thought leadership • Promotion/Sales• Networking/Relationships • Idea feedback• Search engines/traffic • Build Community• Collaboration • Show a human face• Engage • Events• Comment/share expertise • PR• Add value/contribute to • Recruitment discussions • Employee engagement
  38. 38. “Our greatest asset is our staff”
  39. 39. “Our greatest asset is our staff”"The use of workers to humanize corporate entities has been a time-honored marketing tradition, of course. But in an era of Web 2.0 transparency, their visibility takes ongreater meaning, signalling the higher importance of customer service in the marketing mix... staffers offer a kind of peer credibility as corporate advocates.“ Noreen OLeary in AdWeek
  40. 40. But do we trust them enough to allow use of Social Media to communicate with: Customers Stakeholders Each other?!
  41. 41. How do staff/employees/colleaguescurrently communicate? • Email • Face to face • Telephone/SMS/BBM • Skype and Video • Coffee machine • Hallways • Lunchtime • Pub • Sports and Social • Official meetings/briefings
  42. 42. Social Media – internal benefits• Better engagement = better performance • Competitions• Engages younger staff • Increase collaboration• Retains good performers • Creates sense of Community• A new staff benefit/motivator • Weekend Warriors• Evidence of open and trusting • Vacancies become more management engaging• Quick and easy communications • Easy to identify Brand• Fast and honest feedback ambassadors• Ideas hub • Easy to identify good communicators • Humanises management / Reduces corporate speak
  43. 43. Social Media – internal benefits• Don’t accept “No” for an answer from Management • Better engagement = better performance• Train Management if they • Start small don’t understand it • Forget the tool (Twitter etc) – What the tools are • Ask what employees would find – What the tools do useful – Why Social is important • Expect very little engagement• “Communication is King” at the start
  44. 44. Social Media – identifying BrandAmbassadors • They ‘get’ and use Social Media• Good communicators • They are open, random and• They ‘get’ the objective of the supportive online Brand • They can articulate the dangers• Can articulate the objective • They can tell stories• They evangelise the brand • They are trustworthy• Strong sense of Mission/Vision • At ease with all levels of• Consistent in behaviours Management – internally and• Factually accurate in externally communications • They know competitors’ products• Can handle pressure • Keen to give feedback on own• Can handle argumentative people performance• Relaxed and friendly – but get • Fizzing with ideas and quick things done witted
  45. 45. Points to think about• Social Media policy throughout • Everyone is an ambassador• Guidelines for stepping outside • You won’t get it perfect policy (and who) • Requires leadership and the• Leap of faith for Management ability to trust staff• How to reward ambassadors • Special approach for Key• How to measure performance Accounts• Management are watching and • Don’t introduce it without some listening closely sort of plan• Does the company culture and • Don’t plan anything! tone match the messages? • Don’t expect results overnight• Ambassadors can become • This is not a replacement for ‘celebrities’ traditional staff communication• Have a defensive strategy for channels when someone is offended
  46. 46. www.ifalife.com
  47. 47. How to Leverage LinkedIn
  48. 48. What is
  49. 49. What is• May 2003• 175m users. 2 members per second • A HUGE mine of data.• 200 countries, 10 languages All LI products help you• 21 m visits pm (US) (47m globally) leverage that data• Up 63% on 2010• 50% in US, 9+ million in UK • Invest time because it’s• Viadeo (35m), Xing (10m), Fast Pitch, a People Search Engine Ecademy• Shift from a Jobs site to real-time networking• 1 m groups• 2 m company pages• Value: $1.5 - $2 bn• Mobile 2008. 400% growth in page views per year
  50. 50. Active user Name accountsFacebook 750 millionTencent QQ 674 millionQzone 480 millionNetease 360 millionWindows Live 330+ millionMessengerTencent Weibo 233 millionHabbo 203 millionTwitter 200 millionSina Weibo 200 millionSkype 145 millionVkontakte 135+ millionBadoo 121+ millionOrkut 120+ millionBebo 117 millionLinkedIn 175+ million
  51. 51. Why are you on LinkedIn?• Find contacts• Find likeminded• Share contacts• Highlight expertise• Shape your personal brand• Get/give answers• Get/give company news• Find/advertise jobs• Find/promote events
  52. 52. Why are you on LinkedIn?• Find contacts • Share status• Find likeminded • Find personalised news• Share contacts• Highlight expertise • Career discussions• Shape your personal brand • Build Community• Get/give answers • Search topics and• Get/give company news people• Find/advertise jobs • SEO• Find/promote events • Share content
  53. 53. Why are you on LinkedIn?• Find contacts – Don’t be lazy when connecting! – Personalise your message
  54. 54. Invest time in your Profile • People Search Engine • Looking for contacts & expertise – not friends! • Professional credibility • Differentiation • “People Buy People” • Shape your personal brand
  55. 55. Invest time in your Profile Art Flater
  56. 56. Invest time in your Profile“Specialties: Exceptionally good with sarcastic,smart ass remarks.”“Able to sit in my chair for extended periods of timewithout numbness or fatigue.”“Invented the 2 hour lunch break, which has been adapted by sales slackerseverywhere.”“Attempted to train dealer staff until I realized most were too stupid to acceptthe training. Once I realized that fact, I would just take them to lunch.” Art Flater
  57. 57. Invest time in your Profile“Sat on my chair and bitched at sales reps.”“Sometimes I make a sales call.”“Went to lunch a lot.”“I avoid meaningful engagement and work, if at all possible.”“Talked on the phone and hung out. Took credit for others accomplishments.” Art Flater
  58. 58. Invest time in your Profile• Check visibility > Philip’s Activity > edit
  59. 59. Invest time in your Profile• Check visibility > Philip’s Activity > edit
  60. 60. Invest time in your Profile • Monitor your profile
  61. 61. Invest time in your Profile Pro tip: Thank people who look at your profile
  62. 62. ...as a Search Engine.
  63. 63. Search: IFA
  64. 64. Search:FinancialPlanner
  65. 65. Profile• Decide your keywords – Very important• Add them to these key profile sections: – Headline • Interests – Current work • Skills – Past work • Honours and Awards – Website • Groups and Associations – Public profile URL • Add extra sections – Summary – Specialities – Contact settings
  66. 66. Note the keywords in name and summary
  67. 67. 1. Note the keywords
  68. 68. 1. Note the keywords2. Customise your profile URL
  69. 69. Add keywords near the top of yourSummary section
  70. 70. Include keywords in your Specialties
  71. 71. Include keywords in the Experience section
  72. 72. Show yourhuman sideby addingnon-workinterests –plus acouple ofkeywords ofcourse!
  73. 73. Contact Tina Include a couple of keywords in your Contact details too
  74. 74. Contact Art Humour works too!
  75. 75. Profile add ins• Applications • More Applications – Events – Company Buzz – Polls – Amazon reading list – Projects – Box.net – Trips – Google presentations – WordPress blog – iPhone App – SlideShare – Paid advertisements Change the order to suit what you want people to see
  76. 76. Events
  77. 77. Events
  78. 78. EventsChoose EventKeywords
  79. 79. EventsFirst pageGoogle results
  80. 80. PresentationsPulls in yourpresentationsfromSlideShare
  81. 81. Skills Add Skills to your profile. LinkedIn will show you a wealth of related resources...
  82. 82. Skills
  83. 83. Skills – Art Flater
  84. 84. Profile add ins• Applications • More Applications – Events – Company Buzz – Polls – Amazon reading list – Projects – Box.net – Trips – Google presentations – WordPress blog – iPhone – SlideShare – QR codes Change the order to suit what you want people to see
  85. 85. Companies
  86. 86. Companies • Build followers by – Adding value – Engaging – Informing • They may never become customers... • But are – Your network – Your advocates
  87. 87. Companies • Promote your company page – Phone – Email – Letters – Business cards – LinkedIn group – Facebook etc – Presentations
  88. 88. CompaniesFollow button for your website, blog etc
  89. 89. Companies Status Updates of 500 characters
  90. 90. Companies
  91. 91. Companies Status Updates of 500 characters
  92. 92. Companies Measure what works
  93. 93. CompaniesPro tips• Keep it short • Test what works• Occasionally ask questions – Topic types – Questions• Include a link – News• Include an image – Articles• Be different and intriguing – Contests• How-to articles – Events• ‘Like’ competitions – Day and Time – Style and Tone• Ask for a ‘Like’
  94. 94. Companies Measure what worksAlso:Compare against similar companiesCheck your website visits from LinkedIn
  95. 95. Answers A powerful way to prove your expertise• More tab > Answers• Enhance and recognise perception of expertise
  96. 96. News Personalised news based on your profile page• News tab at top• Personalised – suggested categories – Major headlines – Financial Services – Marketing – Etc• Save articles
  97. 97. News Personalised news based on your profile page
  98. 98. Groups• Build your own Social Network and Community around you• Join (50) and/or create your own• Groups tab > Groups you may like• Join groups that your target markets join• “Feed the fish and they’ll keep coming back”• Promote your group on other Social sites
  99. 99. Apps and Misc
  100. 100. Apps and Misc
  101. 101. Apps and Misc
  102. 102. Apps and Misc
  103. 103. Apps and Misc
  104. 104. Apps and Misc
  105. 105. Stuck?• Learning centre: http://learn.linkedin.com/• Under the ‘More’ tab
  106. 106. Social Media ConferenceSpeaking and Consultancyphilip@ifalife.comwww.ifalife.comwww.philipcalvert.com@IFALife@PhilipCalvert

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