This presentation from Alan Maginn, head of social media research at Corporate Insight, offers a look at the current state of social media across financial services and highlights industry best practices.

1. Social Media & Financial Services:
Content, Audience and Engagement
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2. Content Audience
Engagement
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3. • Compe==ve intelligence and user experience research firm
serving the financial services industry
• Tracking social media since Spring 2008
– Published industry‐wide reports in ’08, ’10 & ’12
• Tracking mobile since Spring 2011
– Published industry‐wide report in June 2011
– Ongoing coverage through Mobile Monitor
• Stay Connected with Corporate Insight
• Corporate Insight Blog
• Twi;er @Cinsight
• LinkedIn
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4. Of the firms we tracked
in 2008…
• 32% had Facebook pages
• 15% had TwiSer profiles
• 15% had proprietary offerings
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5. Firms began to claim their
names but most firms’
SOCIAL STRATEGIES
were not clearly defined.
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6. As of August 1, 2012…
• 85% have Facebook pages
• 90% have TwiSer profiles
• 54% have blogs
• 10% have proprietary
communi=es
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7. Firms have established
GAME PLANS for
using social media.
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8. Content
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9. Direct Traffic to Website
• Products and services
• Market and economic
commentary
• Educa=on and tools
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10. Customer Service
• First adopted by banks
• TwiSer is the channel of
choice
• Dedicated customer
service accounts are
common
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11. Social Charity & Community
Service Campaigns
• Associates brand with goodwill
ventures
• Crowd sourced philanthropy
• Chase Community Giving
• Members Project by AMEX
• State Farm’s Cause An Effect
• Ocen boast larger audience than
main pages
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12. Recruitment
• Corporate opportuni=es,
advisors and internship
programs
• Firms using Facebook & TwiSer
• Varia=ons on the same theme
– Describe corporate culture
– List of available opportuni=es
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13. Mascots & Company
Personas
• Increase brand recogni=on
• Extensions of tradi=onal
adver=sing campaigns
• Entertainment first, products
and services second
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14. Online Communi=es
• Company provides an environment for sharing
informa=on
• Members benefit from shared experiences
• Ocen targets client sub‐sets
– Ac=ve traders
– Small business owners
– Re=rees
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15. Advisor Focused Efforts
• Wealth management and insurance firms allow FAs to use
LinkedIn, Facebook & TwiSer
– Morgan Stanley
– Raymond James
• Ameriprise’s LinkedIn powered advisor search
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16. Audience
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17. Average Facebook Fans Per Industry
Industry Average
Industry Average
(w/out top 10)
Annuity Firms
Banks & Card
Issuers
Brokerages
Insurance Providers
Mutual Fund Firms
‐ 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000
As of January 2012 17

18. Facebook Fans (without Banks & Cards)
Industry Average
Industry Average
(w/out top 10)
All Insurance
Providers
Life Insurance Firms
Annuity Firms
‐ 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000
As of January 2012 18

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20. • Over 485,000 fans
– 240% increase since January
• “I Can Do This” campaign
– Meet the Cast
– Schroeder’s Piano game
• Instant quote tool
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21. According to a Corporate Insight
consumer survey conducted in November
2011, only 2.9% of banking customers
interact with their firm via social media.
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22. Engagement
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23. Measuring Engagement on Facebook
45
40
35
30
25
20
15
10
5
0
Industry Average
Shares/Post
All Insurance Providers
Comments/Post
Life Insurance Companies
Likes/Post
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24. How do you engage your audience?
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25. 25

26. 26

27. Make ‘em
laugh!
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29. Mobile
• Life insurance companies trail
the rest of the financial services
industry
– Mobile op=miza=on is s=ll the
excep=on, not the rule
– Life insurance apps are rare
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30. Alan Maginn
Senior Analyst
Consul=ng Services
amaginn@corporateinsight.com
@alanmaginn
212.832.2002 ext. 116
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