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S O C I A L M E D I A T R A N S F O R M E R S
Presented by: Ahmed Buhazza
@_buhazza ://www.facebook.com/ahmed.buhazzahttp
T H E N E W F I N A N C I A L W O R L D ! ! !
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Why Social Media
Trend in Financial Sector
Our Role
Way Forward
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Internet has roughly
twice the influence of
television on
consumers
“Internet is at the center of the decision-making process of consumers”
Dave Senay, Fleishman-Hillard
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"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)
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– Faster speeds and mobile
– Content is eternal and sharable
– New tools make everyone a content creator
– Media is modular
Technology Changes
Business Model Changes
Behavioral Changes
– Everyone has a voice
– New communities are forming
– Time shifting
– Information is free…Information overload
– Fragmenting channels
– Traditional media is being absorbed and changed
– Loss of control over brands
Three Dimensions of Change
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“For the first time
the consumer is boss, which is fascinating, scary and terrifying because everything we used to know will no longer work” Kevin Roberts, chief executive of Saatchi & Saatchi
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HR Social Media Enabled Talent Acquisition, Research, Segmentation, Automated Hiring, Cost Reduction, Speed, Free to Keep, 24x7
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New Alternative Business Models Peer to Peer lending is here
Peer to Peer Insurance is coming
– P2P
– B2B
Friendsurance – First P2P Insurance Concept Launched!!!
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Monitoring! Is a new Role
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Our Role 21
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God Bless us with this Mess!
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Ignore it!
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“The rate of internal change must be greater than the rate of
external change, or the company will fall behind"
Jack Welch
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It is not only Media
It is Social … Media
FSI to regain Trust
Utilize Social Media
Innovate
Principles
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> Google analytics
> Hitwise
> Coremetrics
> Fireclick
> Radian6
> HubSpot
> Omniture
> Blog Pulse
Evaluation
Way Forward...
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Challenges
Privacy
Social Convergence
Mobile
Social Search
Social Analytics
Effectiveness
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KYC
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Social Monitoring
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32 Info-Tech Research Group
Soci
al n
etw
ork
ing
Blo
ggin
g M
icro
-B
logg
ing
Soci
al
Mu
ltim
edia
CR
M S
uit
es w
ith
So
cial
Med
ia In
tegr
atio
n
Soci
al c
han
nel
agg
rega
tors
So
cial
ch
ann
el m
anag
ers
Tools Mix
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KYC
KYF
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Integrating Social Web Solutions with Existing Back-ends
• User Ids: Agent & Customer sync – issue user Id, suspension • Handling anonymous user interaction
Security
• Email, SMS, Chat, Telephone Communication
• Java, .Net, Open Source (PHP) Web Language
Support
• Back Ends, 3rd parties – point to point or central control? • Data standards – ACORD ? Who follows who? • XML Web Services, MQ Messaging, Direct Database access • EAI gateways
Connectivity
• Oracle, DB2, MS SQL Server, My SQL Database Support
• PCs, Tablets, Smart phones, Hand Phones (SMS) Device Support
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Is it time for a
Chief Social Media Officer?
- New Positions (i.e. Privacy Officer)
- Code of Conduct - New Roles (e.g. Monitoring) - Training - Process Change
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Integrated
Pro
cess Peo
ple
Technology
Mission
Strategy
Vision
Mission
Strategy Vision
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> Google analytics
> Hitwise
> Coremetrics
> Fireclick
> Radian6
> HubSpot
> Omniture
> Blog Pulse
Evaluation
Looking ahead...
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Web x.0; x≈ ∞ × µ
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Culture
Strategy
Technology Communication
Process
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Take an Action before it is Too Late..
Thank you www.facebook.com/ahmed.buhazza
@_buhazza