1. Project: Nordea Step-by-step Journey in Social media
Category: DIGITAL COMMUNICATION
Summary
Nordea is one of the leading banks in Latvia, which has strengthened its reputation as
well as market positions during the global economic crisis. The increasing popularity
of the usage of social media challenged the communications strategy and tactics of
the bank, as the user generated content could influence the awareness and
reputation of the bank. Social media is one of the most challenging communications
platforms as there are no set rules of action and, therefore, it was obvious that only
an active “step-by-step” participation could lead towards good results.
Although the banks are perceived as a conservative business, Nordea started an
active “step by step” communication in social media in order to stimulate great
customer experiences through its presence in the most popular social media sites as
well as creating its own media platforms that enabled dialogue and engagement with
Nordea. Strategic and well designed and integrated pro-active social media activities
that become an integrated part of Nordea’s communications mix in turn enabled
Nordea to fulfil the banks’ reputation objectives – to be perceived as a trustful and
reliable financial partner that is accordingly headed for good business results.
Situation
The increasing popularity of social media became a challenge as well as an
opportunity for many business organisations globally as well as in Latvia. As there
were no clear rules and guidelines of communications then, only by implementing a
pro-active strategy that included constant monitoring, action, and evaluation was it
possible to set the most appropriate social media participation approach.
Thus, Nordea in the Group’s level as well as the local Latvian level took a decision to
integrate social media communications within its integrated communications mix in
order to reach its reputation and business results.

2. Objectives
By taking an active role in social media, the goal was to strengthen the reputation of
Nordea as a secure and stable financial partner that is open and transparent in its
communication thus it stimulates the business results.
The objectives (1) research and customers’ insights by the monitoring of what is said
about Nordea and finances, (2) information dissemination and brand awareness if
social media becomes a part of the integrated communications, (3) strengthened
reputation of Nordea as a reliable and safe partner that is characterised by open and
transparent communications.
The target audience – Nordea’s existing and potential clients that are present in social
media.
Strategy
Nordea implemented a “Step-by-step” strategy in social media and constantly
evaluated the necessity of additional know-how and other resources. As much as
possible, the in-house resources were used both to expand the additional functions in
social media as well as for expertise in content generation.
The external expertise was only used to consultant to adjust specific technical or
content requirements. The main focus was on strengthening such reputation
dimensions as opinion leader and high corporate social responsibility. However, the
planning of different marketing and sponsorship campaigns for social media were
also considered as one of essential elements of the communication mix. The
communication was based on a social media team of communicators – the banking
spokespersons, particular personalities that already represented Nordea in different
public activities.
It was considered that, in the case of a positive experience, the strategy in 2011
would have to focus on the enabling of discussions and engagement, what might be
called “Step-by-step – Towards Dialogue and Experience.”
Execution
Nordea implemented a step-by-step social media strategy in two directions – by
participating in the most popular social media platforms, as well as creating its own
media platforms that enabled the engagement with Nordea.
The execution programme was set in 4 stages:
1) Monitoring – Familiarisation and everyday usage of social media monitoring tools,
e.g.
Hootsuite, MeltBuzz

3. 2) Reaction – Development of Nordea profiles in the most popular social media
platforms, e.g., YouTube, Twitter, Flickr
3) Interaction – Establishment and education of Nordea social media team of
communicators, guidelines of social media for Nordea employees
4) Content – Integration of social media in everyday projects as well as the creation of
separate media platforms, e.g., Nordea Economic Outlook – a live video press
conference or support for Nordea sponsorship projects – the most popular summer
festival “Positivus” or the Nordea Riga marathon.
Special focus was paid to constant analyses of the strategy implementation,
feedback, and
lessons learnt in order to develop an objective evaluation system of social media
performance.
Documented Results
(1) Input or Project results:
- Successful know-how of research and customers’ insights by using monitoring tools,
such as Hootsuite and Meltwater Buzz, identification of customers concerns and
reaction (e.g., lost cards)
- Establishment of active team of communicators (e.g., economic analyst A.Strazds,
financial expert A.Larins, head of HR V.Veisa, head of sponsorship E.Liepina etc.
- Nordea is acknowledged as the most progressive bank in Latvia that wisely uses
social media (Metasite Business solutions, Baltic E-Banking Report 2010)
(2) Output or Communication results:
- Successful results of social media campaigns (e.g., quarterly Economic Outlook live
video conferences – 300 online viewers)
- Good integration in digital marketing campaigns (e.g., Nordea Positivus game –
13,000 participants)

4. - Nordea gets into the Top 25 rating in “Miletako Twitter zimolu tops” (The most
admired Twitter brands)
(3) Outcome or Business results:
- Constantly increasing reputation in dimensions – Safe and stable (25%, Jan, 2010
to 43%, Jan, 2011); Open and honest (15%, Jan, 2010 to 20%, Jan, 2011)
- The highest reputation results among peer banks
Name of the link URL
Nordea Interactive Media Room http://bit.ly/kcQyYL
Nordea Latvia Twitter Account http://bit.ly/mykXEO
Nordea Latvia Youtube Account http://bit.ly/dDo011
Nordea Latvia Flickr Account http://bit.ly/kDvNU4
Nordea Live Platform http://bit.ly/d0t0lX