How the social media is impacting marketing communication and the next marketing wave
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Banco Sabadell is the 4th largest banking group in Spain, focused on commercial banking and the SME and affluent client segments. The document discusses how social media is impacting marketing communication and the next wave of marketing. Customers are permanently online across channels and there is greater transparency, word of mouth influence, and an emphasis on personalization and participation over traditional advertising. The new marketing approach involves personalization, participation, community building, and social media strategy.
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How the social media is impacting marketing communication and the next marketing wave
- 1. BancoSabadell How the social media is impacting marketing communication and the next marketing wave EFMA’s Social Media – Paris Pol Navarro, Head of Channels and Innovation 19th March 2009
- 2. ¿Who is Banco Sabadell?
- 3. Banco Sabadell. Highlights • Fourth largest banking group in Spain(1) • Focused on commercial banking • Top player in SMEs and affluent(2) clients segment (1) In terms of total assets excluding savings banks. (2) Individuals with annual net income >€60,000.
- 4. Banco Sabadell. Milestones 1965 1988 2001 2004 2007-8 1881 1978 1996 2003 2006 Foundation: 127 businessmen and traders to finance the local industry Local Expansion into nearby towns International Expansion: first foreign branch in London Equity management and private banking Solbank BancoHerrero ActivoBank SabadellAtlántico BancoUrquijo
- 7. Business is harder than ever… • Shorter product lifecycle • Intensified competition • Higher customer acquisition costs
- 8. ¿What’s happening? Customers are permanently online • Penetration of mobility (+ 100%) • Growth of digital identity • Mobile, Internet and TV convergence • Phones with more capacities (iPhone)
- 9. ¿What’s happening? Total transparency • New ways of communication • Social networking environments • Culture of comparison and collaboration • More pressure in transparence
- 11. ¿What’s happening? Total Customers are + transparency permanently online Word of mouth
- 13. And now what?
- 15. The end of advertising as we know it
- 18. Be ready for new consumer attitude • Channel shifting • More impacts > less attention > you need relevant messages • Loyalty = Economy of emotion • Manage your community
- 19. Channel shifting More Time Spent Social YouTube and other online Networking Than on Email video sites are stealing viewers (source: Nielsen Online) away from TV in the UK (source: BBC)
- 20. More impacts > less attention > you need relevant messages
- 21. Loyalty = Economy of emotion
- 22. Manage your community “As the Web 2.0 age dawns, banks must wake up to the fact that the successful companies of the future will not have customers, they will have participants, and Chris Skinner that rather than having a http://twitter.com/Chris_Skinner business, they will have a community”
- 23. The NEW Marketing and Consumer Product Product Price Personalization Place Participation Promotion P2P CONSUMER PROSUMER
- 24. Social web is your friend Personalization Experiencies Services Products
- 25. Our experience
- 26. Our experience 1 Personalization & Participation 2 New formats of communication 3 Community & Conversations 4 Social Media Marketing Strategy
- 27. Personalization & Participation Product personalization
- 28. Personalization & Participation Instant Card
- 29. Personalization & Participation Instant Card
- 30. Personalization & Participation Instant Card
- 32. Personalization & Participation Digital signage with interaction and online integration
- 33. New formats of communication Internet TV platform campaigns
- 34. New formats of communication Break the barriers of your content
- 35. New formats of communication Mashup with Google calendar
- 36. Community & Conversations Launch your community
- 37. Community & Conversations Launch your community
- 38. Community & Conversations Emotion based communication
- 39. Community & Conversations Emotion based communication
- 40. Community & Conversations Twitter conversations
- 41. Community & Conversations Monitor your brand
- 42. Social Media Marketing Strategy Campaigns on social networks
- 43. Social Media Marketing Strategy Campaigns on social networks
- 44. Social Media Marketing Strategy Social Media ROI Personalization Experiencies Services Products 1% 5% % success 0,5% 10%
- 45. Conclusions • Permanent connection combined with total transparency have created a totally different competition • Word of mouth is more relevant A powerful marketing and sales tool • Personalization of products/offers is key to reaching a fragmented market (long tail) • Technology allows better interaction with our customers, to construct relations therefore emotions • Personalization and participation are two of the most powerful tools to create commitment
- 46. Thanks! Thanks for your attendance Pol Navarro Gonfaus Head of Channels and Innovation NavarroP@bancsabadell.com
- 47. www.bancosabadell.com SabadellAtlántico BancoHerrero Solbank Banco Urquijo ActivoBank