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Roles & Risks of Social Media
- 1. The Role and Risks of Social Media Kristin Sundin Brandt Sundin Associates, Inc.
- 3. ©2012,SundinAssociates©2013,SundinAssociates WhySocial Media? 67% of online adults use social networking 67% of online adults use social networking Pew Internet: Social Networking http://pewinternet.org/Commentary/2012/March/Pew-Internet-Social-Networking-full-detail.aspx • Facebook – 67% • Twitter – 16% • Pinterest - 15% • Instagram – 13% • Tumblr – 6% • Facebook – 67% • Twitter – 16% • Pinterest - 15% • Instagram – 13% • Tumblr – 6%
- 4. ©2012,SundinAssociates©2013,SundinAssociates WhySocial Media? Source: 2012 J.D. Power and Associates US Retail Banking Satisfaction Study. © 2012 J. D. Power and Associates. The McGraw-Hill Companies, Inc. All Rights Reserved. Reproduction Prohibited
- 5. ©2012,SundinAssociates©2013,SundinAssociates TheRoleofSocial Customer ServiceCustomer Service Awareness/BrandingAwareness/Branding Product PromotionProduct Promotion
- 12. ©2012,SundinAssociates©2013,SundinAssociates Awareness/Brandi ng Average Facebook user has 245 friends Average Facebook user has 245 friends The Average American Knows 355 More People Than She Has Facebook Friends http://www.theatlanticwire.com/technology/2013/02/real-friends-vs-facebook-friends/62310/
- 14. ©2012,SundinAssociates©2013,SundinAssociates CustomerService State of the Media: The Social Media Report – 2013 http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2012-Reports/The-Social-Media-Report-2012.pdf 47% of social media users engage in social care. 47% of social media users engage in social care. One in three social media users prefer social care to contacting a company by phone One in three social media users prefer social care to contacting a company by phone
- 15. ©2012,SundinAssociates©2013,SundinAssociates CustomerService State of the Media: The Social Media Report – 2013 http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2012-Reports/The-Social-Media-Report-2012.pdf • Facebook | Company’s Page – 29% • Official Company Blog – 15% • Twitter | Company’s Handle – 13% • YouTube | Company’s Channel – 12% • Facebook | Company’s Page – 29% • Official Company Blog – 15% • Twitter | Company’s Handle – 13% • YouTube | Company’s Channel – 12%
- 21. 39,220 following39,220 following 37,501 followers37,501 followers ©2012,SundinAssociates©2013,SundinAssociates CustomerService
- 24. ©2012,SundinAssociates©2013,SundinAssociates Product Promotion The New Social Etiquette for Capturing the Online Consumer http://blog.ness.com/Portals/72124/docs/FS_Social_CRM_WP_042911.pdf 40-45% get advice on and make decisions about investments, loans and retirement. 40-45% get advice on and make decisions about investments, loans and retirement. Social media users purchase up to 25% more financial products than consumers who don’t use it. Social media users purchase up to 25% more financial products than consumers who don’t use it.
- 28. ©2012,SundinAssociates©2013,SundinAssociates Product Promotion Facebook users who live within 10 miles of Central Village, CT, Danielson, CT, East Killingly, CT, Jewett City, CT, Killingly Center, CT, Preston City, CT, South Killingly, CT or Preston, CT, age 18 and older, who are not already connected to Jewett City Savings Bank 71,280
- 32. ©2013,SundinAssociates Whatarethe risks? “You should help at the food pantry...that’s where all your customers are going to end up!” “...u are a piece of sh**.” “Screw you.” “I bank at ... here in Mountain Home, Ar. We've got the best.” “My account number is...” “I have a love/hate relationship with...” “After 30 years as a customer I wish there was a dislike button for the company.”
- 33. ©2012,SundinAssociates©2013,SundinAssociates Whatarethe risks? Believe it or not, today, over four years after I closed my last Peoples account, I got spam from them that began "Dear Valued Customer”! What a riot! Believe it or not, today, over four years after I closed my last Peoples account, I got spam from them that began "Dear Valued Customer”! What a riot!
- 37. ©2013,SundinAssociates Whatarethe risks? keyinfluencer True confession but I’m in one of those towns where scratch my head and say “I would die if I had to live here!” keyinfluencer True confession but I’m in one of those towns where scratch my head and say “I would die if I had to live here!”
- 39. ©2013,SundinAssociates Whatarethe risks? included in the raffle will be all members who liked our page starting with this post. included in the raffle will be all members who liked our page starting with this post. the person who wins must bea member. the person who wins must bea member.
- 41. ©2013,SundinAssociates Whatarethe risks? “Do your customers know you’re a right wing lunatic? Does your board care about their fiduciary duty not to employ such a person in a business that caters to people to deplore the “values” expressed by said lunatic?” “Do your customers know you’re a right wing lunatic? Does your board care about their fiduciary duty not to employ such a person in a business that caters to people to deplore the “values” expressed by said lunatic?”
- 45. http://www.kaushik.net/avinash/best-social-media-metrics-conversation-amplification-applause-economic-value/ Conversation # of replies or comments Amplification # of retweets or shares Economic Value Sum of Short and Long Term Revenue and Cost Savings Applause # of likes or favorites ©2012,SundinAssociates©2013,SundinAssociates TheRewards
- 47. Evaluate & Select Channels Establish Goals/Manage Expectations Create Communications Strategy Measure & Re-evaluate Plan for the Worst ©2012,SundinAssociates©2013,SundinAssociates Recommendations Train Employees