social media for financial institutions

How it works for financial

institutions.

Communication doesn’t work

the way it used to.

Old Model:ORGANIZATION (control)

AUDIENCE

New Model: control?

"Once every hundred years, media changes. The

last hundred years have been defined by the mass

media. In the next hundred years, information won't

be just pushed out to people: it will be shared

among the millions of connections people have."

- Mark Zuckerberg, Facebook founder (Rolling Stone, June 26,

2008)

What is “social” media?

Social: living or disposed to live in companionship with others or in a community

Information is controlled by the

members of the community.

The members decide who to let

into the community.

PERSONAL

Facebook

MySpace

Twitter

Eons

BUSINESS

Linked In

Ning

BLOGS

Wordpress

Typepad

Blogsmith

IMAGES

Flickr

Shutterfly

VIDEO

YouTube

Skype

Podcasts

OTHER

Wikipedia

Squidoo

In every case, the members of the community a) control

the content and b) invite the content into their lives.

These “new” media are powerful

tools for creating communities

and building relationships.

Source: Duct Tape Marketing

What can social media do?

build loyalty

engage people

support SEO efforts

integrate marketing

Social Media Best Practices

integrate communications

amplify efforts

repurpose content

engage the community

use analytics

Case in Point:

Facebook

Millennials now outnumber Baby Boomers;

96% of them join social networks.

Years to reach 50 million users:

radio (38 Years), TV (13 Years), internet (4 Years), iPod (3 Years);

Facebook added 100 million users in less than 9 months.

If Facebook were a country it would be the

world’s 4th largest after the USA.

Facebook has more than 400 million active users.

The average Facebook user has 130 “friends”

and is connected to 60 pages, groups, and events.

Business pages add 4.5 million new “fans” per day.

The fastest-growing group on Facebook

Is women over age 30.

Social media for financial institutions.

Facebook users spend an average of 22 minutes

per day on Facebook.

Facebook is adding almost 1 million users per day.

Social media for financial institutions.

• Time-waster for employees

• Information security risk

• Reputation risk

Employees don’t need social media

to waste company time.

Online behavior same as offline

only faster.

Fiduciary responsibilities same online

as offline.

• identify risk

• set policy and communicate

• apply controls

• monitor and adjust

Setting Policy

• separate social media policy

• adjust existing policies

• Acceptable Use Policies

• Gramm-Leach-Bliley Act (GLBA)

• Sarbanes-Oxley Act

Protect customer information and investor

interests…online and offline.

Your employees [ and everybody else ]

are already using social media.

Will you join the conversation?

Follow banking regulations.

Have a communications strategy.

Integrate with other marketing efforts.

Join the conversation.

Desmond Omovie

Capital Media Ltd

desmond.omovie@capitalmediang.com

www.capitalmediang.com