BlogWell is the only conference where social media executives from large companies come together to share their case studies, offer practical how-to advice, and answer your questions.
To learn more about BlogWell, visit http://gaspedal.com/blogwell
In the BlogWell San Francisco case study presentation, "Social Media Engagement During a Financial Crisis," VP, Social Media Programs Joel Nathanson describes how Wells Fargo launched its engagement program, and used social media to help customers navigate through the minefields.
Measuring ROI, managing teams, legal issues, B-to-B, working with agencies and creating great content are central themes at BlogWell. This event is the best opportunity available for anyone looking to get started or improve their corporate social media efforts. Learn more at http://gaspedal.com/blogwell
5. Social Media for Communications
Complementary:
Complements a broader communications strategy, by
providing an approachable, interactive, flexible and a real-
time channel.
Counters Vacuum Risk:
If you’re not participating, information vacuums can be
created in social networks, filled in by speculation by
employees and customers.
High Influence:
Reach more people through SEO, RSS, and WOM.
But Be Ready:
Have the infrastructure in place to respond to the issues and
questions raised across many channels.
3
7. Consumer Communications in Financial Services is
Not Without Risk or Oversight…
FCC OCC SEC FTC
Non-Public Gramm-Leach
General State Consumer
Civil Code Personal Bliley Act
Information Protection Act
Expert
Promise Guarantee Investments
Advice
Account Security & Privacy Product Disclosures
Investment and Insurance Products:
Are Not insured by the FDIC or any other federal government or agency
Are Not deposits of or guaranteed by the Bank or any Bank Affiliate
May Lose Value
5
9. Listen and Create a Baseline
Who What When Where Why
TruCast sample data
Quantitative Qualitative
Top Authors Product/Service
Top Sites Insights
Post/Comment Sentiment
Volumes Influence/Reach
Trends
7
13. Twitter.com/Ask_WellsFargo:
Social Media as a Service Channel=Unique Challenges
3rd Party platforms not always
reliable
Maintain back up channels
Unofficial Customer Service Reps
Credibility/ Transparency
Abuse: The squeaky wheel
syndrome
Online Security: Need to take
account conversations offline
Enterprise ready applications
11
14. Building a Successful Program: Fundamentals
Clear Goals
Who, What, Where, When, Why, & How
Willing
To have a conversation
Have a thick skin
Make changes-improve products and service
Have some empathy, apologize, and help
Adaptable
As soon as you build it, it will likely change
Thoughtful and focused
Start small
Find your niche
12
15. Lesson 1: You’ve Got Data… What next?
Determine what you’re going to do with the info:
Organize and analyze
Identify and target opportunities
Integrate into product/service development
Begin building infrastructure & align product/service teams
13
16. Lesson 2: Establish Community Guidelines
What’s In and Out-of-Bounds
We’ll generally avoid topics like:
Investor relations, stock price, etc
Government relations & activity
Legal/Regulatory issues
Competitors, etc.
Always bring value to the Community
Be relevant- ease up on the sales pitch
Err on the business side of business casual
Always take the high road
Remember that you’re a customer too—how would
you like to be treated?
14
17. Lesson 3: Voice
Voice: Who will represent you?
Front line customer service reps, execs, product
managers, PR/communications or marketing
professionals?
Will you be funny, serious, sales-y, 2 kewl?
What days/hours will you be available? 24x7?
How will you staff your program?
How will you handle customer issues?
15
18. Lesson 4: Know the culture
Not all conversations should be joined
Regulatory issues
Conversation etiquette: Don’t be invasive
Back to basics reminder: Be a good conversationalist
1. Listen
2. See things from other perspectives
3. Be clear
4. Provide good information
5. Be polite and honest
16
19. Lesson 5: Responding to Consumers
There are real people (customers!) behind every
blog post, every online review, discussion, expressed
opinion.
When you respond to one, you respond to many.
Be sensitive to the individual situations
Engagements are public, indexed by Google, and can
be very influential. Don’t forget that.
Wells Fargo Bloggers, Readers…Customers
Hello Hello
17
20. Some Engagement Examples: Ask_WellsFargo
Unexpected Customer Service
Wells Fargo Bank just lost a customer due 2 miscommunication, horrible
customer service, & lack of considerance.
3:53 PM Apr 1st from web
@ Wait! I’d like to help if I can. Pls send me a DM and tell me what’s
going on and I’ll connect you with the right people. Thx!
7:50 PM Apr 1st from web in reply to
I want 2 thank the reps @Ask_WellsFargo 4 really getting 2 know the
customer and understand their view, I am more confident now than b4!
12:50 PM Apr 7th from web
18
21. Wrap-up: Key Points
Mainstream adoption is here & social media is a key
component in communications strategy.
Don’t wait for a crisis to build your program.
Start listening, build a program and
*when appropriate* Engage!
19