Financial service organizations can elevate their brand, better connect with customers and improve their microcontent to give it legs and have it shared online. This presentation provides a solid understanding of how those in the financial services sector can optimize their social media use.

1. Thinking about
Social Media Strategy
and Financial Services
a presentation by Sidneyeve Matrix

2. Part 1: Context
Canadians online

3. Context Canadians online
Last year, 8 out of 10 used the web regularly.
Source: The 2009 Canadian Internet Use Survey

4. Context Canadians online
digital divide:
household income
$85K+
94% $30K-
connected
54%
disconnected
Source: The 2009 Canadian Internet Use Survey

5. image credit: Mehfuz Hossain
Source: Forrester Research 2009 (US/Canada)
Context Canadians online
online Canadians with a
social networking profile 57%

6. 67% financial e-transactions
online Canadians make
electronic banking or bill payment
Context Canadians online

7. Context Canadians online
Your clients are looking for you,
your products, and services online.
percentage of life insurance shoppers who used each channel for research:
39% 38% 24% 16%
online in-person mail phone
Source: Forrester Research 2009 (US/Canada)

8. brand affiliates are more likely
to spread word of mouth, refer friends, and make purchases

9. Context Canadians online
successful social media initiatives require that we
go where the people are...
image credit: Moriza
image: child of Atom

10. so where are your clients?

11. visitors by age
19% 50+
32% 34-49
23% 25-34
27% 24 and under
source: comScore 2009
Source: comScore 2009

12. visitors by age
18% 50+
42%
25% 34-49
42%
24% 18-34
15% 17 and under
source: comScore 2009
Source: comScore 2009

13. visitors by age
30% 55-64+
30% 45-54
25% 25-44
15% 13-24
Source: YouTube Insights 2010

14. visitors by age
7% 54+
16% 35-54
51% 25-34
26% 18-24
Source: LinkedIn.com/directads 2010

15. Part 2: Objectives
Socializing finance

16. How are financial services using social media?
Best practices from the US and Canada
reveal 4 objectives for social media ROI.

17. objectives
1. Brand elevation
Thought leadership.
image credit: Mukumbra

18. objectives: thought leadership
in 140 characters or less
expert advice

19. objectives: thought leadership
brand elevation
news updates

20. objectives: thought leadership, brand elevation
corporate social responsibility
social media for social good
philanthropy & public
service messages

21. objectives:
causes
thought leadership
motivate people.
70K

22. causes
motivate people.
17.6K

23. objectives
2. Humanize the brand
Increased transparency.
Gain credibility.

24. 1,801
objectives: humanize the brand
behind the brand increased transparency

25. a tool for businesses with multiple employees tweeting:

26. objectives:
humanize the brand
comic
mascots
170K

27. comic
mascots
523K
objectives: humanize the brand

28. comic
mascots
73.7K
objectives: humanize the brand

29. comic
mascots
28.5K
objectives: humanize the brand

30. objectives
3. Customer service.
Raise the satisfaction index through social listening.

31. 2,643
objectives: customer service
timely problem solving

32. objectives: customer service
via social listening

33. objectives: customer service
via social listening

34. objectives: customer service
community
microsite

35. closed facebook wall
designed to drive traffic &
interaction to the
community microsite.
But....

36. Facebook users
having none of that.
Posting comments on
video page instead.
Bottom line? Don't try to
control the conversation.

37. objectives
4. Lead generation.
Grow networks.

38. objectives: lead generation
cross-
promotions

39. objectives: grow networks
sponsorships
29K

40. objectives: grow networks
GenY
target
20K

41. objectives:
grow networks
recruiting
11.5K

42. Part 3: Building platforms
Social media optimization

43. design social media sites as
content aggregators
and communities.

44. use them to publish your
microcontent
for example...

45. http://www.insurancejournal.tv/emm/
think video.
according to
Microsoft, 75% of
online adults
watched a web
video this month.
Highest demo?
25-34.

46. types of videos:

47. think slides.
1 week
700+ views

48. think images.
humanize your brand.
demonstrate corporate
citizenship by
documenting charity
event sponsorship.

49. optimizing Facebook pages
3 quick tips!
like these
Find some solid business apps.
1. Find some solid business apps.

50. and check out these apps for business

51. optimizing Facebook pages
3 quick tips!
2.Vanity URL
25 likes required
so long!
much easier to remember!

52. optimizing Facebook pages
3 quick tips!
3. Custom landing page.
some tools to build it

53. optimizing Twitter streams
3 quick tips!
compare this... ...to this
1. Custom background.

54. optimizing Twitter streams
3 quick tips!
2. Build some lists.
bring the best people together

55. optimizing Twitter streams
3 quick tips!
Curious about how
effective your branding is?
Check out which lists
Build some lists.
you're on. That's how
others see you.

56. optimizing Twitter streams
3 quick tips!
3. Follow back.
@BlueShieldCA
reciprocity.
140=140
@libertymutual
not listening.
1,600 followers
175 follows.

57. Part 4: Analytics
Track performance.

58. measure everything
track your progress toward objectives.

59. tools for quantifying
impact, reach, influence

60. what to count?
metrics
Site traffic
Click-thrus
Network growth
P2P conversation
Media mentions
Leads generated from
web promo code.

61. about the author
Sidneyeve Matrix, PhD.
Queen's National Scholar, Media. Queen's University
Online: MatrixMediaFX.com + SidneyeveMatrix.com
This research was funded by:
Thank you to Dr. Yolande Chan and to
Alexandra Macgregor for research assistance.
Contents of this presentation including images
have Creative Commons Attribution‐
Noncommercial‐Share Alike 3.0 Licenses.