b3 seminar: social media in the financial sector - laura crimmons & fiona dunphy
TRANSCRIPT
Social media in the financial sector
Social media in the financial sector by Laura Crimmons & Fi Dunphy
Social media in the financial sector
Contents • What’s new in social and why should your brand care?
• What is social customer service?
• What can you measure & how do you demonstrate ROI?
• Who’s doing it well?
Social media in the financial sector
What’s new in social and why should your brand care?
Social media in the financial sector
Facebook • Ranked comments
• Mobile share button
• ROI tracking
• Gifts & Collections
Social media in the financial sector
Twitter • Twitter cards
• Improved search
- View photos and videos first
- See headlines and photos on mobile
- Contextual understanding
• Advertising available in the UK
Social media in the financial sector
Google+
• Authorship analytics
• Business page in SERPs
• Google+ Local
Social media in the financial sector
Social Customer Service
Social media in the financial sector
The Social Customer
Source: Fishburn Hedges
Social media in the financial sector
Engaged Brands
Source:
Socialbakers
Social media in the financial sector
Expected Response Time
• Overall average response time is 26 hours – two hours over the expected time
• Financial industry average is just over 9 hours
Source: Conversocial
Social media in the financial sector
Don’ts × Send generic responses
× Be sarcastic
× Engage in arguments
× Ignore complaints
× Refer customer to a call centre/general email address/website
Social media in the financial sector
Don’ts
Social media in the financial sector
Don’ts
Social media in the financial sector
Dos Include operating hours in bio
Respond ASAP
Include name/initials in sign off
Check the customer’s history
Offer to contact the customer directly
Try to go the extra mile
Social media in the financial sector
Dos
Social media in the financial sector
Who should be responsible?
Channel management
PR
Customer Service
Agency
Marketing
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Employee conduct
Outline a clear policy on social media conduct: • From company profiles
• From personal profiles
• From company network
Social media in the financial sector
What can you measure and how do you demonstrate ROI?
Social media in the financial sector
Think of your social media followers as your customers/ potential customers – now you have a wealth of information about them that 5 years ago marketers could only dream of
Social media in the financial sector
Facebook Insights • Demographic information
• See engagement on posts to outline
clear content plan & understand what your fans are interested in
• See the reach of each post & page as a whole
Social media in the financial sector
Twitter Analytics • More demographic information
• Also see who your followers also follow
to see who influences your followers and therefore where you should be aiming to put you marketing messages & content
• Which of your website URLs have been shared on Twitter, by who , how much engagement they receive and how many clicks – perfect chance to turn followers into customers and engage with them
Social media in the financial sector
Google+ Ripples
• See who shared post & when
• See who is influential about the post by size of circles
Analytics on a page (coming soon)
• Who’s interacting with page
• Users’ demographics
• Info about social activities (+1’s, shares, comments)
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Google Analytics • Visits via social referral
• Assisted social conversions
• Last interaction social conversions
• Visits by social network
• Shared URLs
• Social visitors flow
Social media in the financial sector
Social Media ROI • The same age-old question that’s
existed with PR and many marketing activities for years
• Remember AVE (Advertising Value Equivalent)? That’s now laughable
• Trying to come up with a real formula for social media ROI may be a bit like using AVE
• = (Tangible Related Revenue + Estimated Intangible Related Revenue – Cost of Social Media) / (Cost of Social Media)
Social Media
ROI
Brand Awareness
Customer Service
Traffic/ conversions
Reputation/ crisis
management
Brand identity/ persona
Social media in the financial sector
Social Media ROI
“63% of people connect with
businesses on social media sites”
“48% of people have made a purchase based on a post by a business
they follow on social media”
“An additional 34% clicked a link and
considered making a purchase”
“35% of people have made a purchase based on a post by a friend or
connection”
“An additional 22% have clicked a link and
considered making a purchase”
Source: AYTM
Social media in the financial sector
Who’s doing it well?
Social media in the financial sector
Barclaycard • Nearly 700k views on YouTube
• Over 5k likes of video on Facebook
• Peak talking about figure of 9,400
• Increase of over 4k fans
• All this in the last 2 weeks…
Facebook Fans
Twitter Followers
Social media in the financial sector
Taking Social Seriously – AMEX UK
Social media in the financial sector
Small Business Saturday – AMEX US
Video case study
Social media in the financial sector
Compare the Meerkat
Social media in the financial sector
Combining online/offline – cross-platform campaigns • Synergy between offline PR & customer
service
• Social media is essentially your online customer facing platform
• Everything you say offline should be reflected in what you say online and vice versa
Social media in the financial sector
[email protected] - @fidunfi
[email protected] - @lauracrimmons
www.branded3.com
Questions?
Social media in the financial sector
#B3Seminar @Branded_3