webforward conference 2011 - christopher smith, nab
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TRANSCRIPT
Social Media: The new age of conversation
by Chris SmithGeneral Manager, DigitalDirect Banking, NAB
[email protected] June 2011
“When is the social media fad is going to end?
Isn’t it all going to just collapse soon and things go back to the old way?”
Trend: #1 Social Media is Mainstream
• Social Media is now mainstream – in fact it’s beyond the mainstream.
• If Facebook were a country it would be the third largest in the world – behind only China and India.
• Facebook is targeting >1bn users in next 12‐18mths.
• 50% of Facebook users are aged 35+
• Australian’s spend > six hours on social media sites.
• 29% of all time spent by Australian’s on the internet is spent on Facebook.
• 60% of mobile internet usage in the US is spent on social media sites – only 9% on carrier portals.
Trends: #1 Social Media is Mainstream
• In 20 minutes • 1,000,000 links are shared on Facebook• 1,484,000 event invites are posted
• 1,323,000 photos re tagged
• 1,851,000 status updates are entered• 1.972 million friend requests are accepted
• 2,716,000 photos are uploaded
• 2,716,000 messages are sent
• 10.2 million comments are posted • 1,587,000 wall posts are written
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Trends: #2 Mobile Devices are a key driver of Social Media
• Mobile devices that deliver MORE capability than desktop/tethered devices.
• Capabilities such as GPS, personalisation, messaging, presence, device intimacy (always with you), presence and context, app stores, contactless billing mean that RICHER interactions are possible with mobile devices than desktop devices.
• Gartner has forecast that by 2013 more internet usage will be from mobile devices than non‐mobiles.
• Recent study from global media agency Initiative showed that 60% of mobile internet activity occurred INSIDE the home.
Trend: Moore’s Law: Computing speed doubles every two years
iMac – 2000 iPhone 4 ‐ 2010Processor 500 MHz 1GHz
Memory 128MB 512MB
Graphics capability 8 million triangles per second 28 million triangles per second
Screen resolution 786k pixels 614K pixels
Max data transfer rate 12.5MB/s 20MB/s
Storage 30GB HD 32GB Flash Drive
Size 38.1cm x 38.1cm x 43.4cm 11.4cmx 5.9cm x 0.8cm
Weight 15.8kg 0.08kg
Camera No 5 Mega Pixel still/video
GPS No Yes
Phone No Yes
Compass No Yes
Accelerometer No Yes
Apps “Shrink‐wrapped”software 225,000+ in App Store
Downloads of these apps N/A 5,000,000,000+ since 10 July 2008
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Trends: #2 Mobile Devices are a key driver of Social Media
Trends: #3 The Explosion of Social Commerce
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@NAB: The Journey So Far…
@NAB: The “break up” Campaign
@NAB: The “break up” Campaign
Core Proposition:
“Break Up” with the other big banks, largely over the way they were treating their customers.
Objectives:
1.Differentiate our brand.
2.Leverage Social Media as part of the marketing mix
3.Inject Humor
4.Drive more sales!
@NAB: The “break up” Campaign: The Plan
•Friday: Started with a “planted” tweet
•Saturday: NAB’s intention to pay subsidies up to $700 launch in print media
•Monday: Valentine’s Day – the bank launched its “break‐up” campaign, declaring it was breaking out of the big four banking group to go it alone.
•Tuesday media stunts including: — CDs were given away at railway — stations with break‐up songs— Signs were scrawled on footpaths, — Helicopters carried banners — actors performed mock break‐ups— Stunts filmed on YouTube.
@NAB: The “break up” Campaign: The Results
“NATIONAL Australia Bank has lifted its share of the mortgage market after launching its "break up" campaign.”
• Transactions accounts up by 20 per cent
• Increased home loan applications by 20 per cent
• Delivered 35 per cent upswing in home loan inquiries from customers of other banks
• Grew 3.4 times the average of the industry.
• 50 per cent increase in credit card applications
• 189 blog mentions and • 330 comments in other
online forums • 1700 NAB‐related tweets
after the first break‐up tweet.
''Love the campaign. Nothing better than throwing a cat amongst the pidgins (sic), and with today's communication noice (sic) this kind of campaign stands out.''
@NAB: The “break up” Campaign: Key Lessons
1. Channel integration of Online and Offline was important – one message across different media
2. Early use of Social Media, Marketing Stunts and humour help get cut through early ‐ Engagement was key
3. Strong use of online “paid search” ads and mircosites to maximise offline value that moved to online.
4. Leveraged YouTube with TVCs, and 50 break up videos – Content could be shared
In Summary…
1. Social Media is here to stay! Is it in your Company’s DNA?
2. Powerful Medium to communicate real‐time with customers, but you can’t control the conversation.
3. Mobile in the new online.
4. Leverage the crowd to drive sales and raise engagement
5. Ensure Integration between online / offline by integrating ‘Digital’ early in your thinking.
Questions?
Thank you.
Chris SmithGeneral Manager, Digital, Direct Banking, NABEmail: [email protected]: http://au.linkedin.com/in/christophergsmith0@csmith_in_oz