The Role and Risks of Social Media

The Role and Risks of Social Media

Kristin Sundin Brandt

Sundin Associates, Inc.

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67% of online adults use social networking67% of online adults use social networking

Pew Internet: Social Networkinghttp://pewinternet.org/Commentary/2012/March/Pew-Internet-Social-Networking-full-detail.aspx

• Facebook – 67%• Twitter – 16%• Pinterest - 15% • Instagram – 13%• Tumblr – 6%

• Facebook – 67%• Twitter – 16%• Pinterest - 15% • Instagram – 13%• Tumblr – 6%

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Source: 2012 J.D. Power and Associates US Retail Banking Satisfaction Study. © 2012 J. D. Power and Associates. The McGraw-Hill Companies, Inc. All Rights Reserved. Reproduction Prohibited

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Customer ServiceCustomer Service

Awareness/BrandingAwareness/Branding

Product PromotionProduct Promotion

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Average Facebook user has 245 friendsAverage Facebook

user has 245 friends

The Average American Knows 355 More People Than She Has Facebook Friendshttp://www.theatlanticwire.com/technology/2013/02/real-friends-vs-facebook-friends/62310/

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State of the Media: The Social Media Report – 2013http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2012-Reports/The-Social-Media-Report-2012.pdf

47% of social media users engage in

social care.

47% of social media users engage in

social care.

One in three social media users prefer

social care to contacting a

company by phone

One in three social media users prefer

social care to contacting a

company by phone

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State of the Media: The Social Media Report – 2013http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2012-Reports/The-Social-Media-Report-2012.pdf

• Facebook | Company’s Page – 29%• Official Company Blog – 15% • Twitter | Company’s Handle – 13% • YouTube | Company’s Channel – 12%

• Facebook | Company’s Page – 29%• Official Company Blog – 15% • Twitter | Company’s Handle – 13% • YouTube | Company’s Channel – 12%

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39,220 following39,220 following

37,501 followers37,501 followers

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The New Social Etiquette for Capturing the Online Consumer http://blog.ness.com/Portals/72124/docs/FS_Social_CRM_WP_042911.pdf

40-45% get advice on and make decisions

about investments, loans and retirement.

40-45% get advice on and make decisions

about investments, loans and retirement.

Social media users purchase up to 25% more financial products than consumers

who don’t use it.

Social media users purchase up to 25% more financial products than consumers

who don’t use it.

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n Facebook users who live within 10 miles of Central Village, CT, Danielson, CT, East Killingly, CT, Jewett City, CT, Killingly Center, CT, Preston City, CT, South Killingly, CT or Preston, CT, age 18 and older, who are not already connected to Jewett City Savings Bank

71,280

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PEOPLE

Compliance

Reputation

Security

Employees

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“You should help at the food pantry...that’s where all your customers are going to end up!”

“...u are a piece of sh**.”“Screw you.”

“I bank at ... here in Mountain Home, Ar. We've got the best.”

“My account number is...”

“I have a love/hate relationship with...”

“After 30 years as a customer I wish there was a dislike button for the company.”

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Believe it or not, today, over four years after I closed my last

Peoples account, I got spam from them that began "Dear Valued

Customer”! What a riot!

Believe it or not, today, over four years after I closed my last

Peoples account, I got spam from them that began "Dear Valued

Customer”! What a riot!

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keyinfluencer True confession but I’m in one of those towns where scratch my head and say “I would die if I had to live here!”

keyinfluencer True confession but I’m in one of those towns where scratch my head and say “I would die if I had to live here!”

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included in the raffle will be all members who liked our page

starting with this post.

included in the raffle will be all members who liked our page

starting with this post.

the person who wins must bea member.

the person who wins must bea member.

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“Do your customers know you’re a right wing lunatic? Does your board care

about their fiduciary duty not to employ such a person in a business that caters

to people to deplore the “values” expressed by said lunatic?”

“Do your customers know you’re a right wing lunatic? Does your board care

about their fiduciary duty not to employ such a person in a business that caters

to people to deplore the “values” expressed by said lunatic?”

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http://www.kaushik.net/avinash/best-social-media-metrics-conversation-amplification-applause-economic-value/

Conversation# of replies or comments

Amplification# of retweets or shares

Economic ValueSum of Short and Long Term Revenue and Cost Savings

Applause# of likes or favorites

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http://www.kaushik.net/avinash/best-social-media-metrics-conversation-amplification-applause-economic-value/

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Evaluate & Select Channels

Establish Goals/Manage Expectations

Create Communications Strategy

Measure & Re-evaluate

Plan for the Worst

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Recom

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Recom

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Qu

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Qu

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Kristin-Sundin-Brandt.com

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Th

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!Th

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!