The document discusses the potential for financial institutions to leverage social media for improved customer engagement and marketing strategies, highlighting the reluctance of many banks to fully adopt these channels due to regulatory concerns. It emphasizes the need for a comprehensive social media strategy that includes high-quality content, measurable KPIs, and a governance model to allow for agile responses. Success stories such as Wells Fargo demonstrate how social media can be effectively utilized to personalize service and engage with customers.

1. e
Social Media for Financial Institutions:
Educational Package – Part 1
SoMazi is one of the world’s leading strategic social media consultancies, specialising in
amplification and monetisation of social engagement.
www.somazi.com

2. 2 Social Media Fun Facts
645,000,000: Views of local business Facebook pages during an average week.
(Source: Facebook)
442,000,000: The number of views per month generated by the top 500 brands on
YouTube. (Source: Outrigger Media)
150: The number of times the typical “smartphone” user checks their phone per
day. (Source: KPCB)
500,000,000: The number of photos uploaded and shared per day in 2013.
(Source: KPCB)
50,000,000: The number of unique visitors per month to the Foursquare website.
(Source: Foursquare)
6,000,000,000: Hours of YouTube video watched per month. (Source: YouTube)
24: The percentage of online teens that use Twitter, up from 16 percent in 2011.
(Source: Pew Internet)

3. 3 Social Media & Financial Institutions
Source: SAP Blog “The Influence of Social Media on the Banking Industry”
While most industries have adopted new marketing tools, most
financial institutions simply have missed the opportunity to
fully exploit social media channels.
For reasons of security, compliance and risk, the majority of
financial institutions have so far made a cursory pass through
this communication channel, but social media allows financial
institutions to connect with their customers in a completely
new manner.
Financial institutions must start to take the social media
channels seriously and develop a clear strategy. The
challenge is the “how to” in such a highly regulated
industry.

4. 4 Google Search
When searching online for banks, customers look for social media pages first.
(Source: The Financial Brand)
Facebook dominates social media
related search results in the banking
industry.
Are you utilising this platform
efficiently?

5. 5 Social Media & Financial Institutions
The challenge is to develop and implement
a holistic social media strategy and
combine it with cross-channel efforts. The
social media strategy needs to include
aspects of:
(1) High Quality Content, well laid out
(2) Key Performance Indicators (KPIs), clearly
defined and measurable
(3) Governance Model that allows the company
to react ad hoc without having to run through
several levels of approval, and
(4) Customer Care
Paradigm Shift
Social Media
Search
Engines
New Customers
The Social Media Challenge

6. 6 Banking Social Media Success Story
Wells Fargo is an example of a financial institution running a successful
social media strategy. It uses social media to “further personalize
service” it provides to customers:
• Beyond Today – discusses retirement planning
• Wells Fargo Environmental Forum – highlights how they “integrate environmental stewardship”
into everything they do
• AdvantageVoice – analyses breaking news, ideas about investing trends, and unique economic
insights
• The Student LoanDown – helps students learn how to prepare and pay for college
• Commercial Electronic Office® (CEO®) Blog – discusses topics such as business process
optimisation, product and technology enhancements, and mobile banking trends.
Wells Fargo also maintains several Twitter accounts where customers can pose questions or view job openings, Facebook pages
where customers can view career opportunities and even a Wells Fargo pictorial history, and finally, several YouTube channels
where they provide personal banking, business and commercial how-to videos.

7. 7 SoMazi
At a Glance
• In 2012, Forbes included Maz in its Global Top 50 list of Social Media Power Influencers.
• In 2011, The Sunday Times listed Maz amongst its Global Top 50 Social Media People.
• In 2010 Maz was asked to join a select research team at Oxford University’s Business
School to address the subject of ‘Social Media and Innovation’.
• He is a judge at the Shorty Awards alongside the likes of Steve Wozniak (“Woz”), Jimmy
Wales of Wikipedia, and Craig Newmark, founder of Craigslist.
• Maz is an advisory board member for the globally renowned “Social Media Week” and
“Social Media World” events.
SoMazi was founded by social media specialist Maz Nadjm. His background in blue-chip multidisciplinary
cross-channel social media amplification has seen him rise to become one of the world’s leading social media
authorities.
SoMazi operates on a simple principle – any involvement in social media should drive financial gain
Contact Info:
18 Steynings Way
N12 7LN, London
England
Maz Nadjm
Mobile: 07960811351
Landline: 02035981294
Email: maz@somazi.com
Website: www.somazi.com
Twitter: @Somaziww

8. 8 SoMazi