social media takes financial services customer experience to new heights

@Visible_Banking

VisibleBanking.com

Social Media Takes the Financial Services Customer Experience

to New Heights

by Christophe Langlois (London, 9th September 2014)

© Visible Media Ltd 2007-2014

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@Visible_Banking

“The future belongs to traditional companies that know how to transition to digital. The key point for us at AXA is trust. Trust is the new currency. Over the next ten years we will be successful if we use our traditional expertise, continue to build the trust of our customers, and embrace the new opportunity with digital.”

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Digital Transformation


BANK

PRODUCTS &

SERVICES

OMNI CHANNEL

DATA &

TECH STAFF

CENTRAL FUNCTIONS

MARKETING

SOCIAL MEDIA & SOCIAL BUSINESS Content, Social Media Channels, Analytics, Mobile, Collaboration

PEOPLE

EMPLOYEES PARTNERS MEDIA INFLUENCERS PROSPECTS CUSTOMERS

@Visible_Banking

So What is Social Media?


Build relationships w/influencers, turn customers into (vocal) brand advocates.

@Visible_Banking

The FAKE World of Social Media


@Visible_Banking

Social FinServ “Amuse Bouche”


@Visible_Banking


Think Experience, Not Product

Urge your customers to share their stories, provide exceptional UX design.

@Visible_Banking

“Our mission is to be everywhere our card members and merchants are and to engage with them, service them, deliver unique value that’s shareable & create seamless digital experiences that surprise and delight. We spent a great deal of time listening to the community. The community interests and feedback defined our strategy.”

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@Visible_Banking The ROI of ‘Frictionless’


Invaluable customer social profile match

Make it easy -and rewarding- for your customers to spread the word online.

Social Banking, Reputation, P2P


What if social banking was the only way to engage with your younger customers and differentiate your financial institution?

@Visible_Banking

WRAP UP


Social Media Strategic Framework

BRAND PURPOSE, BUSINESS GOALS & STRATEGY Map your products, market segments, target groups, design guidelines | CVM 1 ONLINE CONVERSATION MONITORING Identify online conversations (volume, topics, sources) | Key channels, partnership opportunities 2

INFLUENCER IDENTIFICATION Most influential individuals, organizations, communities | Detractors and brand advocates 4 SOCIAL MEDIA PLATFORM BUILDING Building your official presence on the most SM channels | Do the basics well, promote 5 CONTENT STRATEGY Key topics, existing, contributors (guests), voice, syntax, frequency, call to action | SEO & SMO 6 CAPABILITY Recruitment (external), internal expertise, training, FTE vs shared | Ownership vs delivery 7 INFLUENCER OUTREACH Type of partnership, guest contributors, long term engagement | Media relations 8 ENGAGEMENT (AND EMPOWERMENT) STRATEGY Response strategy (systematic, SLAs, escalation), outreach, permission | Social customer care 9 BIG DATA & THE CONNECTED CUSTOMER Data privacy, capture / store / enhance, match, transform, action | VOC, Insights lead generation 10 KPIs, ROI & IMPROVEMENTS Measurement (control group, surveys), NPS, customer retention | Earned media, NPS 11

COMPETITIVE INTELLIGENCE Best practices, social media innovations, engagement strategies | Benchmark 3

@Visible_Banking

1. BRAND PURPOSE

2. BUSINESS GOALS

3. RESEARCH & INSIGHTS

4. STRATEGY

5. EXECUTION & INTEGRATION


Social Media Strategy

6. RESULTS & OPTIMISATION

@Visible_Banking


How much is this tweet worth? 1. nothing, 2. £20.000, 3. priceless How much is this tweet worth? 1. nothing, 2. £20.000, 3. priceless

The ROI of One Single Tweet @Visible_Banking

social media takes financial services customer experience to new heights

Economy & Finance