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Experian Social Media Strategy


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Presentation based on the focus on driving revenue through social media: "If one of your business objectives is to acquire new transacting customers by using social
media, measure conversions from new followers
and fans, to new transacting customers." Olivier Blanchard, Social Media ROI

Published in: Social Media, Business, Technology
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Experian Social Media Strategy

  2. 2. e FOCUS: FAMILIES & PROFESSIONALS Q: How can social marketing for Experian’s CreditExpert most effectively engage with ‘cash-strapped’ families and ‘stretched’ professionals?
  3. 3. e SOCIAL METRICS #1 Key to success is getting social metrics right: "If one of your business objectives is to acquire new transacting customers by using social media, measure conversions from new followers and fans, to new transacting customers." Olivier Blanchard, Social Media ROI
  4. 4. e SOCIAL METRICS #2 Start with what mean by ‘engagement’ as likely to mean both non-financial and financial ● Non-financial: measures of online consumer engagement with social campaign content (e.g. Facebook engagement rates) ● Financial: new consumers who convert to customers by signing up to CreditExpert ●
  5. 5. e SOCIAL METRICS #3
  6. 6. e PLANNING: CUSTOMER Building *real* relationships is at the crux of any social media program's ultimate success ● So key to campaign is to have accurate personas for two target groups ● That way you give them useful information what they want, and they trust you as the go-to source on credit and finance ●
  7. 7. e PLANNING: SOCIAL ESTATE Experian’s current social (owned) channels: Facebook with just under 17K ‘Likes’ YouTube with 228K ‘Likes’ @ExperianJames with 1K+ Followers ● Active level of engagement starts from low base, few obvious brand advocates ● This influences the design of the social campaign ●
  8. 8. e PLANNING: TIMING & BUDGETS First create marketing plan based on budget, timeline, and expected metrics ● For e.g. assuming £20K per quarter over two quarters ● Need to create a holistic multi-stakeholder plan for content rollout, partnership agreements for marketing campaigns, etc ●
  10. 10. e CAMPAIGN FOCUS: FAMILIES #2 Families have been struggling with biggest squeeze on their finances since 1920s ● CreditExpert offers valuable tools for families to manage credit better, and get expert financial help, to deal with this ● How then to connect the dots, and see # new customers benefit from the service? ●
  11. 11. e CAMPAIGN FOCUS: FAMILIES #3 Start off by finding out what are top 5 concerns from families using e-mail survey, and Facebook: internally & ‘socially’ sourced ● Target marketing campaign around those concerns ● Distinction being that social strategy will be two-way & educational in tone ●
  12. 12. e CAMPAIGN FOCUS: FAMILIES #4 Partner with high profile online communities such as Mumsnet to contribute financial advice to their members ● Creative driver to attract attention & engagement? ● #1: Offer a ‘financial makeover’ to one family, as a competition suitable for target audience ●
  13. 13. e CAMPAIGN FOCUS: FAMILIES #5 #2: Approach influential bloggers to take guest blog posts from Experian ● Plus reaching out to financial journalists (working with PR) to explain how struggling families can find ways to survive financially ● Use real life ideas/tips, drawn from discussions on Mumsnet, to add impact ●
  14. 14. e CAMPAIGN FOCUS: FAMILIES #6 Non-financial metrics would be ‘earned’ measures of engagement/reach such as #blog comments, # community discussions ● Plus ‘owned’ measures with FB ‘Likes’ and engagement rate ● Financial measures would be referral tracking from links in blogs, communities to sign-up page, and successful trial conversions ●
  16. 16. e CAMPAIGN FOCUS: PROFESSIONALS #2 To research with needs of stretched professionals use Facebook/e-survey to generate customer intelligence and start engagement ● Aim is also to ‘fish where the fish is’ engage with professionals in online locations and using formats most accessible, e.g. mobile ●
  17. 17. e CAMPAIGN FOCUS: PROFESSIONALS #3 Aim to run the campaign from within ‘owned’ estate on Facebook and Twitter, backed up with paid social ads on the two channels to grab attention ● Again educational in tone, with content created to meet specific needs of professionals, such as top mobile apps for managing finance ●
  18. 18. e CAMPAIGN FOCUS: PROFESSIONALS #4 To seed the campaign sponsor a young professional mobile video blogger to run a video diary ● This is to focus in an accessible way on how to manage finances, and enjoy social life ● Aim would be to weave in content to highlight how CreditExpert can help with ●
  19. 19. e CAMPAIGN FOCUS: PROFESSIONALS #5 Content would include a focus on issues around identity fraud, or at least the risk of it ● And the issues around being turned down for credit ● Plus how to find a mortgage if individual’s credit rating initially not sufficient for the lender ●
  20. 20. e CAMPAIGN FOCUS: PROFESSIONALS #6 Aim to raise engagement on Facebook and Twitter around the daily short video ● Plus over the length of the diary to show how thinking for even a short time each day can help ● And weave in how credit and ID fraud tools and expertise of CreditExpert can make a real difference ●
  21. 21. e CREDITEXPERT PRESENTATION: CONCLUSION By setting up business objectives for social media from the outset we are more likely to be successful ● As it means will from outset focus on how measures of engagement such as Facebook Likes/Shares/Comments, contribute to new net customers for CreditExpert ●