Financial Services and Social MediaPaul Rapino
US Director Financial Services
Microsoft
August 26, 2010
POV OverviewThe New Social-isms and Financial Services• Terminology
• Owned-Paid-Earned
• Best Practices in other industries
• Compliance
• Recommendations
Social Marketing Objectives & Terminology
Earned Media
PaidMedia
Owned
Media
Top Marketing Tactics for 2010:
1. E-mail marketing
2. Social networks3. Keyword search
4. Radio
5. Magazines
6. Online display
7. Event sponsorship
8. Rich media display
9. Direct mail
10. Regional TV
“The key take-away is the high and long-lasting impact of earned media… but advertisers can’t buy earned media; it has to be earned through user engagement and connections between users and brands.”
Nielsen, April 2010
Total Digital Ad Spend 2010
Social Networks
5.5%
Social Marketing On Facebook
OwnedMedia
PaidMedia
Earned Media
Advertisers perceive Facebook offering asa comprehensive social marketing solution
OwnedMedia
Brands seek to drive engagement with their page, creating a community of fans who opt in for future communications
Sel
f-se
rve
En
gag
emen
t A
ds
PaidMedia
Generate fans & earned
media through user engagement
CultivateBroadcast
user engagement to friends
Amplify
Re-engage fan community with brand
communications
Repeat
Country
State
City
Age
Gender
Relationship Status
Language
Keywords
Interests & Likes
Education
Work
Connections
Dem
og
rap
hic
s
Friends of Fans
Women
Age = 24-45
Dallas, TX USA
Targeting friends of fans
creates personal endorsements in
paid media
PaidMedia
10%
16%
30%
4% 8%
13%
2%8% 8%
Ad Recall Awareness Purchase Intent
Facebook ad performance for key brand metrics increases when social context is included in the ad
Source: Nielsen Brand Lift
+
Home Page Ad
Home Page Ad w/ Social Context
Organic Impression
PaidMedia
Are you sure?
Facebook is all I need for my brand advertising campaigns.
ResponseFacebook ads limit creative options. The small format, tiny images, and peripheral placement on the page just don’t provide advertisers the flexible and impactful creative palette they need for true brand advertising. MSA offers large, integrated, rich creative formats that enable you to make emotional connections with your target customers and bring your brand to life.
SupportWe know that only 1/25 people who spend time looking at or interacting with rich media ads actually click on them. But higher ‘dwell scores’ make ads more engaging and: Are three times more efficient at driving brand search Drive 69% more traffic to brand sites Increase user engagement at brand sites -- more page views, more time spent with that
brand
Jon Gibs, VP Media Analytics, Nielsen
“Creative is about 70% to 80% of the
effectiveness of advertising.”
Are you sure?
Facebook paid media is all my brand needs to drive engagement with my Facebook page.
ResponseYour customers are everywhere, not just on Facebook. You need to connect with them wherever they are living their digital lives—and through the screens that they prefer.
SupportConsumers exposed to paid media on multiple screens are significantly more likely to connect with your brand through a social network. In a recent campaign that combined online, mobile, Xbox, and Massive, consumers exposed to TOMs shoes ads on four screens were 8 times as likely to engage with TOMs on Facebook, Twitter, and MySpace.
1
21%28%
57%
7%
2 3 4
# of Screens
Are you sure?
Facebook has better targeting.
ResponseThe key here is to differentiate targeting capabilities from targeting attributes (data). Is Facebook’s data better? Well, yes. Is their targeting better… no!
Microsoft also has fantastic data (e.g. WLID) but also has the experience and insight into making the most of it! A few key points of differentiation: Facebook is predominantly a profile targeting advertising model MSFT has insight driven targeting (such as BT, CDT, CPGOE and also does profile) Facebook’s targeted reach is only on Facebook MSFT targeting extends to the entire Microsoft Media Network
SupportRobust targeting drives significant performance lifts. For example, a top auto manufacturer saw a 298% lift in CTR, a top CPG client saw a 195% lift in CTR, and a top wireless provider saw a 257% lift in CTR.
We Are Two Complementary Publishers With Different Ad Solutions
480M Global UUs
Social Ads
Rigid, Small Ad Formats
Peripheral Ad Placements
Profile, Social, Category
Drives Engagement w/FB Page
720M Global UUs
Brand, Performance, Search, Social
Large, Rich Creative Formats
Custom Integration Opportunities
Profile, Category, Behavioral, Custom, Re-messaging
Multiple Advertiser Objectives
Global UU
Ad Types
Formats
Placement
Targeting
Benefits
PaidMedia
Global UU Source: MMR
Examples of Social Network Usage
Research Advertizing Conversation Communication Feedback Transactions
Blogs Provides research on customer issues and industry trends
Bank of America’s Bank of the Future Blog
Wells Fargo product blogs
Wells Fargo/Wachovia merger blog
Citi blog on the Women & Co website
Tweets Customer experience feedback
Sponsored tweets
JetBluerandom tweeting
Bank of America and Wells Fargo customer service model
Wells Fargo’s inactive account on Twitter
YouTube Umpqua’s Bank of the Future Video
Charlie Rose interview with Citi CEO
Feedback on videos
Facebook Where I’ve been – provides research for travelers
ChaseCommunity Giving
Customerdialogues
American Airlines providesarticles targeted at women travelers
Customer dialogues
MySpace Citi Low Rate Credit Cardadvert
Travelers – Get an Insurance Quote
foursquare Customer GPS data
Metric Details
Conversation Buzz Number of responses to blog postings
Conversation Traffic Numbers of tweets, conversations, blog entries, communities
Competitor Interest Competitor engagement, number of competitor blogs, followers, messages, conversations
Audience Participation Background of respondents, age levels, location, interests, preferences, opinions and motivations
Audience Responsiveness The level of responsiveness to company actions, positive or negative
Topic Frequency How many times does the topic come up
Topic Intensity How deeply felt are the issues around the topic. How representative do the opinions appear to
Brand Sentiment Is the trend positive or negative
Level of Interest How does the topic rank in relation to other issues
Level of Feedback Quality of ideas and suggestions for improvements in products and services
Metrics to measure Social Media
“Follow”
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000Fo
llow
ers o
n Tw
itter
Innovation with Social Media and Financial Services•www.Trefis.com
•In the wake of financial turmoil,MIT engineers and Wall Street analystsgot together to create Trefis– Financial Tools built with Experts, company employees and Investors•Trefis is a meaningful financial community structured around TREnds, Forecasts and Insights related to some of the most popular stocks in the US.
•Looks to future not past
Go to Finovate Conference in NYC Oct 4-5, 2010See Financial Services Innovation Demos
•www.bundle.com
•Database of how consumers spend money•Compare real data from your profile•Journalists, Economists, Financial Advisors and consumers interact around real data
http://www.finovate.com/fall2010/
Innovation with Social Media and Financial Services
EngagedAudience
MSA assets complement and extend social media campaigns on Facebook, driving more earned media than FB alone
RichCreative
RobustTargeting
SocialEnvironment
• 720M Users
• Source of 46% of FB’s Traffic
• Highest Buying Power
• Large Formats
• Rich, Integrated Experiences
• Higher Dwell Scores
• Social Everywhere
• WL + FB Seamless User Experience
• FB Deep Integration WL, MSN, Bing
• Custom Targeting
• 100+ Behavioral Segments
• Thousands of Combinations
Microsoft Complements Social
Compliance
•Tools that scale− Cloud, Security, API, Adaptive Web tools
− http://www.microsoft.com/industry/financialservices/solutions/default.mspx
− “Save, Supervise, Scale”
•Monitor− http://www.visibletechnologies.com/
− http://viralheat.com/api
•Be Transparent•Communicate
Footnote
Recommendations
•Comply•Monitor•Embrace•Adapt to the target audience not your products•Train•Read
Financial Industry Regulatory Authority Notice
“Even though social media tools provide limited space for communicating with consumers, financial marketers are responsible for making sure all necessary disclosures are properly integrated into their social media marketing initiatives.
http://thefinancialbrand.com/13164/compliance-crack-down-on-social-media-coming/
Jeffry Pilcher, FinancialBrand Presentation
http://www.socialturns.com/
Request Free Microsoft Whitepaper“Tweets, Blogs and Instant Relationships
Social networking and the bank of the future
Banking and Capital Markets”
Footnote
Thank you!
Twitter.com/PaulRapino
