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Social Media and Social
 Business the coming
   business changes
      Alpesh Doshi
        Fintricity
Agenda
Introduction to Social Media & Social Business

Social Media – the landscape

Social Business – How businesses will change

Summary
Definitions
Social Media                                                                            Social Business
….is a set of technologies and                                                          … is the intentional creation of
channels targeted at forming and                                                        socially calibrated and dynamic
enabling a potentially massive                                                          business systems, process and
community of participants to                                                            culture. To create enhanced
productively collaborate                                                                value exchange among
Anthony Bradley, Gartner, 7th January 2010
http://blogs.gartner.com/anthony_bradley/2010/01/07/a-new-definition-of-social-media/   constituents delivering improved
                                                                                        and emergent business
                                                                                        outcomes
An example of communities.....

Application of Web 2.0                              Created to work with a
within the enterprise.     Enterprise   Extended    private community (e.g.
Focussed on enabling          2.0       Corporate   Business partners) like
employees to interact                               wholesale or white label



A social application and                            Consumer facing Web
service for a trusted      Public B2B   Consumers   2.0 presence with
group – your community      Trusted      Focused    possible integration into
of IFAs                                             other networks
The Conversation Prism
Social Media Landscape
Large and growing social media applications

      Consumers across the demographic (18-40)

Social Networks have become a part of daily life


   Financial Applications starting to emerge......
How is this relevant to Financial
                  Services?
   Finance sites are sprouting everywhere....


Lead by US (although regulation is different)

Social Media sites provide online tools and services
to manage finances... And share goals

Here is an example from something in the UK....
Social media presentation   alpesh doshi v1.2
Social Media Marketing
Social Analytics                     Data




 Semantics                    Social Graph
Why use Social Media?
   Engage and Interact with Audience/Customer
   To help Marketing and Brand Development
   Build Trust in your Brand and enhance reputation
   Understand needs and drivers of consumers
   Driver loyalty and advocacy
   Input to Product Development
How?




       Social Networks Applications Blogs Monitor
Social Business - Characteristics
Conversations                 Transparency



Reputation                         Trust




Agility                     User Oriented
Many Business Functions can be
                Socialized….
Working in Isolation ->
Collaboration
                                Marketing
                                  Sales
                            Human Resources
                                  Legal
                            Corporate Strategy
                                  R &D
                          Product Development
Knowledge                 Education and Training
Management -> True               Etc, etc          Data is the
Information Sharing                                new Oil
Social CRM
Benefits of Social Business
Connect people internally and externally (e.g. expertise
location)
Building Communities across functional areas
Breakdown organisational barriers and functional silos
Promote broader participation
Improve external brand reputation and enhance
relationships
Discover how your organisation really works
Conclusions
Social Media is already here!
  Brands are keen to reach their customers and learn more about them
  Conversations and Interactions are common outside financial services
  Driven by brand, transparency, interaction

Social Business is coming too!
  Enterprises must change and adapt to the new ways of working
  Will improve productivity, transparency, agility, profitability.........
  Integrated strategy and plan needed (and it’s not only about building communities



Companies must build a strategy, operating model and solutions
About Fintricity
Fintricity works with companies to help them plan
and execute their Social Media and Social Business
strategies

Fintricity delivers business aligned technology
solutions to meet that need

Fintricity provides expertise around technology,
mathematics, computer science, sociology
blended to build and deliver the right solution
Thank you
•   email: alpesh.doshi@fintricity.com
•   mobile: +44 7973 822820
•   web: www.fintricity.com
•   blog: www.alpeshdoshi.com
•   twitter: www.twitter.com/alpeshdoshi
•   linkedin: www.linkedin.com/in/alpeshdoshi

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Social media presentation alpesh doshi v1.2

  • 1. Social Media and Social Business the coming business changes Alpesh Doshi Fintricity
  • 2. Agenda Introduction to Social Media & Social Business Social Media – the landscape Social Business – How businesses will change Summary
  • 3. Definitions Social Media Social Business ….is a set of technologies and … is the intentional creation of channels targeted at forming and socially calibrated and dynamic enabling a potentially massive business systems, process and community of participants to culture. To create enhanced productively collaborate value exchange among Anthony Bradley, Gartner, 7th January 2010 http://blogs.gartner.com/anthony_bradley/2010/01/07/a-new-definition-of-social-media/ constituents delivering improved and emergent business outcomes
  • 4. An example of communities..... Application of Web 2.0 Created to work with a within the enterprise. Enterprise Extended private community (e.g. Focussed on enabling 2.0 Corporate Business partners) like employees to interact wholesale or white label A social application and Consumer facing Web service for a trusted Public B2B Consumers 2.0 presence with group – your community Trusted Focused possible integration into of IFAs other networks
  • 6. Social Media Landscape Large and growing social media applications Consumers across the demographic (18-40) Social Networks have become a part of daily life Financial Applications starting to emerge......
  • 7. How is this relevant to Financial Services? Finance sites are sprouting everywhere.... Lead by US (although regulation is different) Social Media sites provide online tools and services to manage finances... And share goals Here is an example from something in the UK....
  • 9. Social Media Marketing Social Analytics Data Semantics Social Graph
  • 10. Why use Social Media? Engage and Interact with Audience/Customer To help Marketing and Brand Development Build Trust in your Brand and enhance reputation Understand needs and drivers of consumers Driver loyalty and advocacy Input to Product Development How? Social Networks Applications Blogs Monitor
  • 11. Social Business - Characteristics Conversations Transparency Reputation Trust Agility User Oriented
  • 12. Many Business Functions can be Socialized…. Working in Isolation -> Collaboration Marketing Sales Human Resources Legal Corporate Strategy R &D Product Development Knowledge Education and Training Management -> True Etc, etc Data is the Information Sharing new Oil
  • 14. Benefits of Social Business Connect people internally and externally (e.g. expertise location) Building Communities across functional areas Breakdown organisational barriers and functional silos Promote broader participation Improve external brand reputation and enhance relationships Discover how your organisation really works
  • 15. Conclusions Social Media is already here! Brands are keen to reach their customers and learn more about them Conversations and Interactions are common outside financial services Driven by brand, transparency, interaction Social Business is coming too! Enterprises must change and adapt to the new ways of working Will improve productivity, transparency, agility, profitability......... Integrated strategy and plan needed (and it’s not only about building communities Companies must build a strategy, operating model and solutions
  • 16. About Fintricity Fintricity works with companies to help them plan and execute their Social Media and Social Business strategies Fintricity delivers business aligned technology solutions to meet that need Fintricity provides expertise around technology, mathematics, computer science, sociology blended to build and deliver the right solution
  • 17. Thank you • email: alpesh.doshi@fintricity.com • mobile: +44 7973 822820 • web: www.fintricity.com • blog: www.alpeshdoshi.com • twitter: www.twitter.com/alpeshdoshi • linkedin: www.linkedin.com/in/alpeshdoshi