SOCIALSTRAT - IFIE Conference - Using Social Media for Investor Education

676 views

Published on

A presentation made to the 2012 IFIE Conference in Seoul, Korea on how regulatory agencies can use social media for investor education.

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
676
On SlideShare
0
From Embeds
0
Number of Embeds
7
Actions
Shares
0
Downloads
4
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • It is important to define your social media strategy following a sequence of logical steps, with the next step building on the base of the step before it.
  • It is important to define your social media strategy following a sequence of logical steps, with the next step building on the base of the step before it.
  • You need only a few “Champions”; experienced and passionate experts, to drive a successful social network. The majority of your online community are there to learn and consume content with a small percentage that will be actively engaged in the discussion and even fewer that will provide thought leadership and stimulate engagement within the community.
  • The social media communications “virtuous circle”
  • Measurement for social media activities are more difficult because a number of our objectives are less tangible. However, we are able to set specific metrics for each phase of the social media communication cycle.
  • Measurement for social media activities are more difficult because a number of our objectives are less tangible. However, we are able to set specific metrics for each phase of the social media communication cycle.
  • Measurement for social media activities are more difficult because a number of our objectives are less tangible. However, we are able to set specific metrics for each phase of the social media communication cycle.
  • Measurement for social media activities are more difficult because a number of our objectives are less tangible. However, we are able to set specific metrics for each phase of the social media communication cycle.
  • Measurement for social media activities are more difficult because a number of our objectives are less tangible. However, we are able to set specific metrics for each phase of the social media communication cycle.
  • Measurement for social media activities are more difficult because a number of our objectives are less tangible. However, we are able to set specific metrics for each phase of the social media communication cycle.
  • When discussing social media, we most often think of online network applications like LinkedIn, Facebook or MySpace. Today's public social networking applications allow anyone with a specific interest to link with and communicate with others on that particular social network that share those interests.
  • When discussing social media, we most often think of online network applications like LinkedIn, Facebook or MySpace. Today's public social networking applications allow anyone with a specific interest to link with and communicate with others on that particular social network that share those interests.
  • When discussing social media, we most often think of online network applications like LinkedIn, Facebook or MySpace. Today's public social networking applications allow anyone with a specific interest to link with and communicate with others on that particular social network that share those interests.
  • Use the matrix to identify which tool to use for which communication objective.
  • Use this matrix to schedule the frequency of the communication tools and channels indicated.
  • Know what you want to do, understand what your IP strategy is and then get expert advice to put this information into a business plan for your social networking community….
  • SOCIALSTRAT - IFIE Conference - Using Social Media for Investor Education

    1. 1. SOCIALSTRAT Professional Social Media Strategy Using Social Media in Financial and Investor Literacy International Forum for Investor Education (IFIE) and theInternational Organization of Securities Commissions (IOSCO) 22 MAY 2012, Seoul, Korea 09:30-10:45 Presented by: Terrance Barkan CAE
    2. 2. SOCIALSTRAT Professional Social Media StrategySkills & Professional Development,Strategies & Content:Using Social Media in Financial and Investor LiteracyLeadership and Skill Development for InvestorEducation Professionals
    3. 3. SOCIALSTRATProfessional Social Media Strategy What do you want Social Media to do for your organization or agency?
    4. 4. SOCIALSTRAT Professional Social Media StrategyWhat do you want Social Media to do for you? To reach, inform and educate my target audiences To be able to monitor important issues from the industry and the investor community To better engage traditional media to get my agency’s message out to the public To monitor public reaction and discussions To help inform other regulators, decision makers and allied stakeholders
    5. 5. SOCIALSTRAT Professional Social Media StrategyUsing Social Media for Investor Education Defining your objectives – what do you want social media to do for your organization Your audience stakeholder segments – who are you trying to reach and where do they live on social media? Your message – What and how to communicate on different social media platforms? Legal risk management - how to design social media policies to support and protect your organization in a highly regulated environment
    6. 6. SOCIALSTRAT Professional Social Media StrategyUsing Social Media for Investor Education cont’d Who speaks for you? – How to determine who within your organization is allowed to use social media Technology tools and platform(s) – Knowing how to use different social media tools for different purposes How to define, measure and drive results – Impact, “ROI” and other indicators A Written Strategy – Defining the process, structure, plan and resource allocation needed to implement your social media strategy
    7. 7. SOCIALSTRAT Professional Social Media Strategy Important Trends Increased expectations for governments and agencies to provide online information Global move towards “e-government” Citizens of all ages and demographics embracing technology, especially social media Greater risk of online fraud and mis-information including the use of social networking sites
    8. 8. SOCIALSTRAT Professional Social Media Strategy Important Trends – 1/3 of the world is now online!NOTES: (1) Internet Usage and World Population Statistics are for December 31, 2011. (2) CLICK on each world region name for detailedregional usage information. (3) Demographic (Population) numbers are based on data from the US Census Bureau and local censusagencies. (4) Internet usage information comes from data published by Nielsen Online, by the International Telecommunications Union,by GfK, local Regulators and other reliable sources. (5) For definitions, disclaimers, and navigation help, please refer to the Site SurfingGuide. (6) Information in this site may be cited, giving the due credit to www.internetworldstats.com. Copyright © 2001 - 2012,Miniwatts Marketing Group. All rights reserved worldwide.
    9. 9. SOCIALSTRAT Professional Social Media Strategy Social Media Examples & the Investor Community LinkedIn Groups targeting investors eGovernment initiatives The SEC and FINRA on social media The G-8 and G-20 use social media tools for internal and external communications.
    10. 10. SOCIALSTRATProfessional Social Media Strategy LinkedIn Groups
    11. 11. SOCIALSTRATProfessional Social Media Strategy LinkedIn Groups
    12. 12. SOCIALSTRATProfessional Social Media Strategy eGovernment and the EU
    13. 13. SOCIALSTRATProfessional Social Media Strategy eGovernment and the EU
    14. 14. SOCIALSTRATProfessional Social Media Strategy The SEC, Social Media and Investor Education
    15. 15. SOCIALSTRATProfessional Social Media Strategy Helpful Guide on what investors need to know to protect themselves online.
    16. 16. SOCIALSTRAT Professional Social Media StrategyFINRA – Financial Industry Regulatory Authority
    17. 17. SOCIALSTRAT Professional Social Media StrategyFINRA – Financial Industry Regulatory Authority
    18. 18. SOCIALSTRAT Professional Social Media Strategy FINRA – Financial Industry Regulatory Authority http://www.finrafoundation.org/resources/tools/index.htmhttp://www.finrafoundation.org/web/groups/foundation/@foundation/documents/foundation/p124107.pdf http://www.finrafoundation.org/web/groups/foundation/@foundation/documents/foundation/p118440.pdf
    19. 19. SOCIALSTRATProfessional Social Media Strategy FINRA on LinkedIn
    20. 20. SOCIALSTRATProfessional Social Media Strategy FINRA on LinkedIn
    21. 21. SOCIALSTRATProfessional Social Media Strategy The G20 and G8 use Social Media
    22. 22. SOCIALSTRATProfessional Social Media Strategy
    23. 23. SOCIALSTRATProfessional Social Media Strategy
    24. 24. SOCIALSTRATProfessional Social Media Strategy
    25. 25. SOCIALSTRATProfessional Social Media Strategy
    26. 26. SOCIALSTRATProfessional Social Media Strategy
    27. 27. SOCIALSTRATProfessional Social Media StrategyHow are people using social media?
    28. 28. SOCIALSTRATProfessional Social Media Strategy Your social media audience(s)
    29. 29. SOCIALSTRATProfessional Social Media Strategy Your social media audience(s)
    30. 30. SOCIALSTRAT Professional Social Media Strategy60% How are50% “white-collar professionals”40% using social media?30%20%10%0%
    31. 31. SOCIALSTRATProfessional Social Media Strategy What should your “Social Media Strategy” include?
    32. 32. SOCIALSTRAT Professional Social Media StrategySocial Media Strategy includes:• Social Media Goals, Measures and Objectives• Defined audiences (target groups)• Key messages and themes• Inventory of technology tools and applications used• Implementation and measurement guidelines** **This includes social media policies and guidelines!
    33. 33. SOCIALSTRAT Professional Social Media StrategySocial Media Goals• Long term objectives, big picture objectives Examples: • Public Awareness in the investor community of what your agency does and why it is important • Establish a positive “brand” impression with the professional investor community • Establish a high profile in online communities where your audience regularly goes for investment related information
    34. 34. SOCIALSTRAT Professional Social Media StrategyMeasures and Objectives• How are you going to monitor and measure progress?• Includes things like; • Levels of engagement, • Numbers of Followers / “Likes” and comments • “ROI” (example, comparing the level of impact and reach with traditional media)
    35. 35. SOCIALSTRAT Professional Social Media StrategyDefined audiences (target groups)• Who are you trying to reach and how are they using social media?• Which of your target groups are the highest priority? • By age demographic? • Gender? • Marital status / family status? • Income? • Profession or job classification?
    36. 36. SOCIALSTRAT Professional Social Media StrategyKey messages and themes• Integrate social media with your existing communications planning and integration Part of your overall marketing mix: - email, direct mail, live events, etc.
    37. 37. SOCIALSTRAT Professional Social Media StrategyInventory of technology tools and applications used• Understand where your organization is on social media (official and “un-official” sites)• Understand social media outlets your members are using• Define which channels you will use and why
    38. 38. SOCIALSTRATProfessional Social Media Strategy SOCIAL MEDIA COMMUNICATION CRITICAL PHASES The Social Media “Virtuous Circle”
    39. 39. SOCIALSTRAT Professional Social Media Strategy AwarenessAwareness: How manynew people have becomeaware of your messagethrough social media andword of mouth? How areyou drawing attention yourkey messages?Metric: Number of uniquenew visitors.
    40. 40. SOCIALSTRAT Professional Social Media Strategy ConsiderationConsideration: How manypositive versus negativecomments / endorsements arebeing populated on all of thevarious channels. How many aregenuine (supporters anddetractors)?Metric: Number of people thatwould positively share yourcontent: “I would recommendthis product / service /information to a friend.” Ratioof supporters versus detractors.
    41. 41. SOCIALSTRAT Professional Social Media StrategyConsideration
    42. 42. SOCIALSTRAT Professional Social Media Strategy ConversionConversion: How many “clicks” areyou able to trace that eitheroriginated or were heavily influencedby social media conversations?Metric: Number of peoplerequesting a download or signing upfor a seminar / webinar. ROI
    43. 43. SOCIALSTRAT Professional Social Media Strategy ConsumptionConsumption: Are youmeasuring customersatisfaction in real time atthe point of experience withthe product or service? Areyou using social media tocapture that experience?Metric: Number ofcustomers that agree withthe statement: “I wouldrecommend this product /service / information to afriend. Number ofcomplaints. Ratio ofsupporters versus detractors.
    44. 44. SOCIALSTRAT Professional Social Media StrategyConsumption
    45. 45. SOCIALSTRAT Professional Social Media Strategy Word of Mouth (WOM): Measure the echo. What areWord of people saying about your offer / information/ service afterMouth consumption? Are you encouraging WOM? What is the result? Metric: Number of positive comments about the users experiences. Track the number of “Forward to a friend” messages your audience is sending. Monitor the response rate to the “Would you recommend this information to a friend”.
    46. 46. SOCIALSTRAT Professional Social Media StrategySOCIAL NETWORKSSocial Network applications aredesigned to allow people toconnect with one another andcreate groups with rich applicationfeatures.The most popular applicationsinclude:LinkedIn (www.linkedin.com)Facebook (www.facebook.com)Twitter (www.twitter.com)
    47. 47. SOCIALSTRAT Professional Social Media StrategySOCIAL NETWORKSYou will most likely want to have apresence on multiple public socialnetwork sites, including newlyemerging online communities likePinterest that appeal primarily towomen.
    48. 48. SOCIALSTRAT Professional Social Media StrategyFACEBOOKMore than 900million usersworld-wide as ofMarch 2012.Currently in theprocess ofbecoming a publiccompany.Rapid changes toits privacy policiesand basicfunctioning of thesite have causedsome issues forusers.
    49. 49. SOCIALSTRAT Professional Social Media Strategy  150+ Million UsersLinkedIn Today  1+ Million GroupsPer FEB 2012  200 Countries  Professionals  Ave. Inc. $100k+ www.socialstrat.org
    50. 50. SOCIALSTRAT Professional Social Media StrategyLinkedIn Applications
    51. 51. SOCIALSTRAT Professional Social Media StrategyTwitter  Claims 300+ Million Users  Much lower use / adoption compared to other sites like Facebook or LinkedIn www.socialstrat.org
    52. 52. SOCIALSTRAT Professional Social Media StrategyMEASUREMENT TOOLSYou will need to measure the resultsof your social media actions.Email management and tracking;ConstantContact(www.constantcontact.com)Website clicks and hits;Google Analytics(www.google.com/analytics/)Custom Link Tracking;BudUrl(www.budurl.com)
    53. 53. SOCIALSTRAT Professional Social Media StrategyMEASUREMENT TOOLSEmail management and tracking;ConstantContact(www.constantcontact.com)
    54. 54. SOCIALSTRAT Professional Social Media StrategyMEASUREMENT TOOLSCustom Link Tracking: www.budurl.com -or- Bi.Tly.comTurns this:http://www.finrafoundation.org/web/groups/foundation/@foundation/documents/foundation/p124107.pdfInto this:http://budurl.com/FINRAbook
    55. 55. SOCIALSTRAT Professional Social Media StrategyMEASUREMENT TOOLSWebsite clicks and hits;Google Analytics(www.google.com/analytics/)
    56. 56. SOCIALSTRAT Professional Social Media StrategyMEASUREMENT TOOLSYou will need to measure the resultsof your social media actions.Discussion tracking;Google Alerts(www.google.com/alerts/)Blogs;Technorati (www.technorati.com)Blogpulse (www.budurl.com)
    57. 57. SOCIALSTRAT Professional Social Media StrategyMonitoring ToolsMonitor what is being saidabout your organization andkey topics you might want totrack.www.tweetdeck.com Note: The Hindu is a paper with a 14 million circulation in India
    58. 58. SOCIALSTRAT Professional Social Media StrategyMonitoring ToolsYou will want to monitor what isbeing said about you and yourorganization.Radian6 and Hubspot are just twomore comprehensive, andexpensive, tools available to run amonitoring campaign.http://www.radian6.com/http://www.hubspot.com/
    59. 59. SOCIALSTRAT Professional Social Media StrategyPUBLISHING TOOLSBlogs are an importantcommunication tool that allow freeform communication with youraudience while encouragingfeedback , ranking and sharing.WordPress (www.wordpress.com)Blogger (www.blogger com)Many of the better social mediaapplications have bloggingapplications embedded withinthem.
    60. 60. SOCIALSTRAT Professional Social Media StrategyPUBLISHING TOOLSMicro-Blogging is one of the mostrecent new forms of social mediatools, allowing instant “statusupdates” to be sent and receivedover mobile devices or any otherInternet ready device.Twitter (www.twitter.com)Plurk (www.plurk.com)Micro-blogging tools are often usedto direct readers to other sites or forinstant feedback but are limited tovery short messages.
    61. 61. SOCIALSTRAT Professional Social Media StrategyCOLLABORATIONWIKI – A collaboration tool thatallows a large number of individualsto create, contribute and edit anopen collection of web pages andcontent.Some of the most common usesare for glossaries, reference worksor any situation in which a largenumber of discreet pieces ofinformation need to becollected, categorized andorganized.
    62. 62. SOCIALSTRAT Professional Social Media StrategyWiki’sThere is an opportunity for investor education agencies to help make the Wikipediainvestment related definitions better…and raise awareness for your agency!
    63. 63. SOCIALSTRAT Professional Social Media StrategyVIDEO SHARINGThe ability to upload andpublish videos for publicviewing has raised awarenessfor many organizations beyondwhat they could ever hope forin paid advertising.
    64. 64. SOCIALSTRAT Professional Social Media StrategyPRESENTATION SHARINGThe ability to publish computerpresentations, such asPowerPoint, allowing the public toview, rank and share presentations on anysubject. Companies and individuals can use Slideshare to help establish and demonstrate their expertise. Your Slideshare presentations can be used to drive more search results to your main website pages.
    65. 65. SOCIALSTRATProfessional Social Media Strategy Communications
    66. 66. SOCIALSTRATProfessional Social Media Strategy Communications
    67. 67. SOCIALSTRAT Professional Social Media Strategy Why do some Social Media projects fail?• No clear objectives• No clear measurements• No one person accountable• No budget or resource allocation• No sustainable business model (ROI)• No integration into CRM customer database
    68. 68. SOCIALSTRAT Professional Social Media StrategyHow do I build a social media strategy?• Define specific, achievable, initial objectives• Identify and assign project “Champions” and a team• Build a measurement and monitoring system• Get expert advice regarding the business strategy• Get expert advice regarding the technology tools• Get expert legal advice to protect the organization• Be prepared for slow but steady, incremental growth
    69. 69. SOCIALSTRAT Professional Social Media StrategyTop 10 Tips1. It’s about getting your message out2. Monitor what your audience is saying3. You are competing for attention in a “noisy” environment, stand out4. Prepare for emergency communications management IN ADVANCE5. Protect your organization against legal, compliance and reputational risks
    70. 70. SOCIALSTRAT Professional Social Media StrategyTop 10 Tips6. Understand where and how your stakeholders are using social media7. Measure your results8. Maintain your reputation as a trusted source of information9. Focus . . . do not chase “shiny objects”10.Be patience, be consistent
    71. 71. SOCIALSTRAT Professional Social Media Strategy Using the Worksheet:1. Define your social media objectives2. Segment your customer audiences3. Designe an integrated communications plan4. Evaluate your tecghnology platforms5. Prepare for implementation management6. Define and measure metrics and ROI
    72. 72. SOCIALSTRATProfessional Social Media Strategy
    73. 73. SOCIALSTRATProfessional Social Media Strategy Social Media Legal Risk Management www.linkedin.com/groups?about=&gid=2835656
    74. 74. SOCIALSTRATProfessional Social Media Strategy More info at www.socialstrat.org Terrance Barkan CAE Chief Strategist & CEO tbarkan@socialstrat.org or call +1 202 294 5563 Connect on LinkedIn at: http://www.linkedin.com/in/terrancebarkan

    ×