The Power of Social  The Secret Formula for Uncovering Social Solutions
Our Internal Problem Everyone is trying to feed valuable information to our Sales Team
Our Internal Problem <ul><li>The way in which our sales team (and the rest of the organization in connection with the sale...
Our External Problem <ul><li>We compare well with competitors…  but our users’ web expectations are set   by the broader w...
And to Add to Our Challenges <ul><li>We sell through intermediaries… </li></ul><ul><li>… and operate in a highly regulated...
Taking A Step Back <ul><li>BlackRock is </li></ul><ul><li>A premier provider of   global investment management , risk mana...
<ul><li>We are on a mission to solve this disconnect with a Social solution.  </li></ul>We believe that if we solve our in...
<ul><li>For the first time ever.  </li></ul><ul><li>Today only.  </li></ul><ul><li>And only for those of you that chose to...
The Secret Formula <ul><li>1) Educate & Get People Talking </li></ul><ul><li>2) Identify the Villain </li></ul><ul><li>3) ...
Educate We made the authoring of content (for personal and professional use) a part of our annual objectives
We Started Blogging. Internally & Externally.
Speed research <ul><li>15 minutes </li></ul><ul><li>Weekly </li></ul><ul><li>Low expectations </li></ul><ul><li>Learning s...
It’s Hard Not to Be Social If You Already Are
Identify The Villain Source: Carmine Gallo eBook: the Presentation Secrets of Steve Jobs
<ul><li>There's no better way to get engagement from those you are trying to convince than to have a common enemy </li></u...
1 to 1 Communication & The Big PDF (or Print Out)
Uncover The Social Solution <ul><li>We identified ways in which we could make this static communication </li></ul><ul><li>...
That Creates Business Value <ul><li>Next, we needed to make sure that our solution provided real business value (resulting...
The Formula Has Worked <ul><li>The community platform will be rolled out to the Sales reps in two phases, starting in Dece...
Learn From Our Mistakes <ul><li>1.   Get dedicated time from resources to work on social - otherwise it falls behind other...
<ul><li>A Quick Glance At Our External Approach </li></ul>
Educating others on the external presence Number of posts that include “BlackRock” YTD Posts that include “BlackRock” <ul>...
We’ve Identified The Villain <ul><li>Fringe players who are trying to change the way money is managed (the record labels d...
And Our Social Solutions Are in Progress <ul><li>A close connection to return on our Marketing, Sales and Servicing strate...
BlogWell Philadelphia Social Media Case Study: BlackRock, presented by Jonathan Haley
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BlogWell Philadelphia Social Media Case Study: BlackRock, presented by Jonathan Haley

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In his BlogWell Philadelphia Presentation, "The Power of Social: The Secret Formula for Uncovering Social Solutions," BlackRock's Director of eBusiness, Jonathan Haley, shares how they used the power of social media for internal collaboration - and in turn, paved the path for an external strategy.

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  • After sitting in the audience at a Blogwell event a year or so ago, I knew we had a lot to learn and a lot to teach. We decided to divide and conquer and took up specific topics of interest that we would self-educate against and then come back and attempt to cross-pollinate our learnings. This didn&apos;t work. It&apos;s tough to square away time, and a lack of a hands-on-approach made it less tangible We decided we needed to all be operating in a fashion similar to how we would like to operate: 1) We made the authoring of content (for personal and professional use a part of our CFOs) 2) See we started blogging internally and externally 3) Use social networks (joined groups, 4) Weekly 15 minute research meetings - To confront our problem we needed the marketing and product organizations to be advocating for a social solution. There was no better way to do this than to become really educated our selves and then get the rest of the organization talking for us about how social could solve our
  • After sitting in the audience at a Blogwell event a year or so ago, I knew we had a lot to learn and a lot to teach. We decided to divide and conquer and took up specific topics of interest that we would self-educate against and then come back and attempt to cross-pollinate our learnings. This didn&apos;t work. It&apos;s tough to square away time, and a lack of a hands-on-approach made it less tangible We decided we needed to all be operating in a fashion similar to how we would like to operate: 1) We made the authoring of content (for personal and professional use a part of our CFOs) 2) See we started blogging internally and externally 3) Use social networks (joined groups, 4) Weekly 15 minute research meetings Then we went out and found advocates in the organization &amp; made sure they were believers in concepts that came from our research meetings - Surveyed our global marketing team ahead of an offsite (revealed a significant gravity toward social, but also identified who our advocates were) - Although many of these folks weren&apos;t at the top of the organization, many were in a position to influence the top -- started word of mouth - To confront our problem we needed the marketing and product organizations to be advocating for a social solution. There was no better way to do this than to become really educated our selves and then get the rest of the organization talking for us about how social could solve our
  • Then we went out and found advocates in the organization &amp; made sure they were believers in concepts that came from our research meetings Surveyed our global marketing team ahead of an offsite (revealed a significant gravity toward social, but also identified who our advocates were) Although many of these folks weren&apos;t at the top of the organization, many were in a position to influence the top -- started word of mouth
  • - Every good story has a villain - Carmine Gallo in the Presentation Secrets of Steve Jobs…talks about the importance of introducing the Antagonist. - There&apos;s no better way to get engagement from your audience than to have a common enemy In our problem, we made an enemy of our current means of communication and online collaboration. (puffs, Sales View)
  • There&apos;s no better way to get engagement from your audience than to have a common enemy
  • BlogWell Philadelphia Social Media Case Study: BlackRock, presented by Jonathan Haley

    1. 1.
    2. 2. The Power of Social The Secret Formula for Uncovering Social Solutions
    3. 3. Our Internal Problem Everyone is trying to feed valuable information to our Sales Team
    4. 4. Our Internal Problem <ul><li>The way in which our sales team (and the rest of the organization in connection with the sales team) communicates and collaborates, has become very inefficient. </li></ul>
    5. 5. Our External Problem <ul><li>We compare well with competitors… but our users’ web expectations are set by the broader web, not our competition </li></ul>
    6. 6. And to Add to Our Challenges <ul><li>We sell through intermediaries… </li></ul><ul><li>… and operate in a highly regulated environment </li></ul>
    7. 7. Taking A Step Back <ul><li>BlackRock is </li></ul><ul><li>A premier provider of global investment management , risk management and advisory services to institutional, intermediary and individual investors around the world. As of September 30, 2010 , BlackRock’s assets under management total US$3.45 trillion </li></ul><ul><li>Who believes: </li></ul><ul><li>Since our founding, BlackRock’s core philosophy has been grounded in the belief that our clients’ needs are of paramount importance and our sole business is managing our clients’ assets on their behalf. We are committed to always doing what is in our clients’ best long-term interests. </li></ul><ul><li>And seeks to: </li></ul><ul><li>promote teamwork among our employees worldwide </li></ul><ul><li>facilitate operational integrity and efficiency </li></ul>Source: BlackRock.com
    8. 8. <ul><li>We are on a mission to solve this disconnect with a Social solution. </li></ul>We believe that if we solve our internal collaboration & communication problem first we will convince the organization of the Power of Social And garner support for an external strategy
    9. 9. <ul><li>For the first time ever. </li></ul><ul><li>Today only. </li></ul><ul><li>And only for those of you that chose to stay and see my presentation…. </li></ul><ul><li>I will reveal the formula we use to generate social solutions to our problems. </li></ul><ul><li>let's see it in action </li></ul>
    10. 10. The Secret Formula <ul><li>1) Educate & Get People Talking </li></ul><ul><li>2) Identify the Villain </li></ul><ul><li>3) Uncover the Social Solution that Creates Business Value </li></ul>
    11. 11. Educate We made the authoring of content (for personal and professional use) a part of our annual objectives
    12. 12. We Started Blogging. Internally & Externally.
    13. 13. Speed research <ul><li>15 minutes </li></ul><ul><li>Weekly </li></ul><ul><li>Low expectations </li></ul><ul><li>Learning something new every time </li></ul>
    14. 14. It’s Hard Not to Be Social If You Already Are
    15. 15. Identify The Villain Source: Carmine Gallo eBook: the Presentation Secrets of Steve Jobs
    16. 16. <ul><li>There's no better way to get engagement from those you are trying to convince than to have a common enemy </li></ul>Source: Carmine Gallo: The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience
    17. 17. 1 to 1 Communication & The Big PDF (or Print Out)
    18. 18. Uncover The Social Solution <ul><li>We identified ways in which we could make this static communication </li></ul><ul><li>accessible </li></ul><ul><li>comment-friendly </li></ul><ul><li>share-able & </li></ul><ul><li>search-able </li></ul><ul><li>And into a valuable conversation </li></ul>
    19. 19. That Creates Business Value <ul><li>Next, we needed to make sure that our solution provided real business value (resulting in revenue creation or cost-savings to the firm) </li></ul><ul><li>We’ve projected and intend to benchmark our solution against the following: </li></ul><ul><li>A reduction in the number of phone calls to our product experts </li></ul><ul><li>An increase in our sales teams ability to overcome objections at point of sale (leading to more conversion to business) </li></ul><ul><li>- An increase in the perception that our sales force operates true to their titles (advisor consultants) </li></ul>
    20. 20. The Formula Has Worked <ul><li>The community platform will be rolled out to the Sales reps in two phases, starting in December </li></ul><ul><li>We are exploring the opportunity to leverage enterprise-wide </li></ul><ul><li>And we are uncovering social solutions to solve our external problem </li></ul>
    21. 21. Learn From Our Mistakes <ul><li>1. Get dedicated time from resources to work on social - otherwise it falls behind other priorities. </li></ul><ul><li>2. Keep teams tight - multiple meeting reschedules to try to include everyone can make a project lose inertia. </li></ul><ul><li>3. Experimentation is the key to getting things right - not making sure what goes out the door is perfect. </li></ul>
    22. 22. <ul><li>A Quick Glance At Our External Approach </li></ul>
    23. 23. Educating others on the external presence Number of posts that include “BlackRock” YTD Posts that include “BlackRock” <ul><li>September 2010: </li></ul><ul><li>Month over month, Twitter (MicroMedia) is the most common venue used for talking about BlackRock. </li></ul><ul><li>Posts are generally re-tweets of mainstream news articles and occasionally blogs. </li></ul>Insurance Regulators pick BLK to weigh CMBS risks Reuters: Goldman's NY prop traders in talks with KKR, Perella, BlackRock Fink gives strong third-quarter outlook BLK sees slower global econ recovery in H2 Rising costs for solar power in Germany BLK Canada launches the iShares(R) DEX HYBrid Bond Index Fund <ul><li>19 mentions containing “Roth” </li></ul><ul><li>23 mentions of “social security” </li></ul><ul><li>The majority of product mentions are related global allocation </li></ul>
    24. 24. We’ve Identified The Villain <ul><li>Fringe players who are trying to change the way money is managed (the record labels didn’t see Napster coming) </li></ul><ul><li>Competitors with thought leaders on social venues </li></ul>
    25. 25. And Our Social Solutions Are in Progress <ul><li>A close connection to return on our Marketing, Sales and Servicing strategies </li></ul>Keep an Eye on BlackRock in 2011! Thank You For Your Time

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