social media & financial services

Social Media – What Went Wrong?A two-time tweeter’s view…

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Social media use distribution by level of maturity, representative industries

Maturity stage

Discovery Experimentation Adoption “Normalcy”

Financial servicesManufacturingPharmacuticals

Utilities

Consumer goodsRetail

Telecommunications

Travel/Hospitality

MediaEntertainment

HighTechnology

0%

25%

50%

Who’s having a go in the USA• 40% have a social media presence• A further 20% intend to create a presence

in the next 12 months• 1/3 are on Facebook, Youtube or blog• Less than 50% twitter• 85% believe soc media will have

a lasting impactKasina Survey of 43 top US asset managers and financial services organisations, 2010

AllianzAmerican Century Investments Calvert

E*Trade Franklin Templeton Investments ING FundsMFS Investment ManagementPutnam InvestmentsVanguard

Can’t get your blog on?• It’s a legal issue!• I can’t get IT to make it a priority!• Is it Facespace or LinkedBook? • Who’s who in the zoo?

Can’t get your blog on?• It’s a legal issue!• I can’t get IT to make it a priority!• Is it Facespace or LinkedBook? • Who’s who in the zoo?• Is there anybody out there?

Are financial advisers and investors really using social media to find out more about investing, superannuation and advice yet?

Getting social

Investment Trends 2009 Investor/Member Communications and Retention Report*Of those who have used a social networking site within a month

a) used Facebookb) say would find it useful or wouldn’t mind the communication*

a) 27%b) 34%

a) 48%b) 41%

a) 84%b) 49%

Can’t get your blog on?• It’s a legal issue!• I can’t get IT to make it a priority!• Is it Facespace or LinkedBook? • Who’s who in the zoo?• Is there anybody out there?• Will we sell more?

What is the cost of doing nothing? Do you really want to take that risk?

“You can’t just say it you have to get people to say it to each other” CMO of Ford America James Farley

“You can’t buy attention anymore. Having a huge budget doesn’t mean anything in social media. The old paradigm was pay to play. Now you get back what you authentically put. You’ve got to be willing to PLAY to PLAY.” Alex Bogusky Co Chair of CP&B Advertising

To do right now list

1. Amplify your content– Set up a Youtube channel– Share your content via SlideShare & Sribd– Let your site visitors share your content for you

To do right now list

1. Amplify your content2. Track your content3. Monitor your social media brand4. Start to listen and learn

Start thinking about

1. Your endgames– Friendraise or fundraise? – A better brand?– Listen and learn?– Better service?

Start thinking about

1. Your endgames2. Where you want to be– Facebook, Twitter etc– Special interest blogs– Create your own communities– Integrate!

Start thinking about

1. Your endgames2. Where you want to be3. Who’s who in the zoo– Natural bloggers or tweeters?– Support & maintenance

Start thinking about

1. Your endgames2. Where you want to be3. Who’s who in the zoo4. Governance and supervision

Need new Linkedin group page - clicks