Keynote presentation delivered at the 2011 LIMRA Social Media Conference for Financial Services by Joel Book, ExactTarget and Bianca Buckridee, SunTrust Bank

1. How Financial Services Companies Use Social
Media to Attract, Engage, & Serve Customers
Presented by
Joel Book, ExactTarget & Bianca Buckridee, SunTrust Bank
August 25, 2011

2. Welcome!
Joel Book
Principal, Research & Education
ExactTarget
Bianca Buckridee
AVP, Social Media Engagement
SunTrust Bank

3. About ExactTarget
• A leading global provider of on-demand
software solutions for interactive
marketing and customer service.
•Key financial services clients include:
• Farmers Insurance
• Nationwide Insurance
• Genworth Financial
• Liberty Mutual
• Bank of America
• Ally Bank
• SunTrust Bank
• ExactTarget’s Interactive Marketing Hub™
technology enables organizations to
connect with customers via email, inbound
and outbound text messaging, landing
pages and social media.

4. About SunTrust Bank
• With assets of $172.2 billion, SunTrust
Banks, Inc. is one of the nation’s leading
financial services holding companies.
• SunTrust Bank provides deposit, credit
trust and investment services to a broad
range of retail, business and institutional
clients.
• 29,000 SunTrust Bank team members in
1,661 retail branches serve clients in FL,
GA, TN, NC, SC, MD, VA and the District of
Columbia.

5. Join the
Conversation!
Joel Book: @JoelBook
ExactTarget: @ExactTarget
I’m learning how to use Social Media for Fin Svcs
Bianca Buckridee: @blatantlybianca
from @SunTrust & @ExactTarget - #LLGSocial
SunTrust: @SunTrust
Event: #LLGSocial

7. Media [R]evolution Mobile Email
SMS
Mobile Email
SMS + MMS
IM IM IM IM
Email Email Email Email
Fax Fax Fax Fax Fax
Direct Mail Direct Mail Direct Mail Direct Mail Direct Mail
Telephone Telephone Telephone Telephone Telephone
<1990 1990s 1999 2000s 2011
TV TV TV TV TV
Radio Radio Radio Radio Radio
Print Print Print Print Print
Display Display Display Display Display
Website Website Website Website
Search
Search Search Search
Online Display
Online Display Online Display Online Display
Paid Search
Paid Search Paid Search Landing Pages
Landing Pages Landing Pages Microsites
Microsites Microsites Online Video
Online Video Online Video Affiliate Marketing
Webinars Affiliate Marketing Webinars
Affiliate Marketing Webinars Blogs
Blogs RSS
RSS Podcasts
Podcasts Wikis
Wikis Social Networks
Social Networks Mobile Web
Behavioral
Mobile Web
Social Media Ads
Virtual Worlds
Apps
QR Codes

8. More Budget for Digital Marketing
72% of marketers have
increased spending on digital marketing.
Source: The DMA
“Digital Marketing Practices in the U.S. and
Canada: Navigating the Digital Labyrinth”
Research conducted by Ipsos Reid Marketing,
and the Canadian Marketing Association (CMA)
February, 2011

10. • Increases Brand Awareness
• Serves Existing Customers
• Attracts New Customers

11. Social Media Users
Facebook: 750M Worldwide / 225M U.S. (1) (1)
Twitter: 200M Worldwide / 20M U.S.(2) (2)
LinkedIn: 100M Worldwide / 44M U.S.(3) (3)
YouTube: 2B Views/Day; Avg. View: 15 Min. (4)
Sources: (1) Facebook (2) Twitter (3) LinkedIn, (4) YouTube

12. Social Networks Pack Plenty of Influence
US marketers will spend
$3.08 billion to advertise
on social networking sites in
2011.
Source: eMarketer, Jan. 2011

13. Customers are Defining Your Brand
Your Brand
Advocates
have
become
Your Best
Marketers

15. Fans & Followers are Good. Customers are Better.
Conversion
Metrics
To Monetize Social Media,
Convert Fans & Followers to Email Subscribers

16. 75% of social media users say email is
the best way for companies to
communicate with them.
MarketingSherpa, 2010

17. • Aids the Buying Process
• Improves Product Experience
• Maximizes Retention

18. GENWORTH USES EMAIL
TO KEEP LIFE INSURANCE
BROKERS AND AGENTS
INFORMED

19. PERSONALIZED EMAIL DELIVERS HIGHER
SALES FOR GENWORTH FINANCIAL
•Weekly Bulletin sent to agents
on behalf of Genworth
Financial Wealth
Management consultant
•Allows for content
personalization while
maintaining corporate brand
and compliance standards
•Personalized email produces a
7-10% higher open rate vs
non-personalized email

20. Email is #1 for Delivering Personalized Information
93% of online
consumers are email
subscribers
“Not only does email usage remain a prime activity among internet
users of all ages, it allows marketers to contact their target
audience with timing and personalized details that social sites
cannot match.”
David Hallerman, Principal Analyst – eMarketer
Author: 10 Best Practices for Email Marketing

21. Email Keeps Customers Engaged
The Customer Life Cycle
Product Product Product Product Repurchase/ Brand
Inquiry Evaluation Purchase Usage Renewal Advocate
Business Getting Business Keeping
Once a person gives you permission . . .
• Email aids the buying process.
• Email drives repeat purchase, referrals.
• Email keeps customers connected and informed.

22. Email Enhances the Customer Experience

23. “Those who buy
products
marketed through
email spend 138%
more than non-
readers of email.”
Source: Forrester Research
“E-Mail Marketing Comes of Age.”

25. Brands Betting Big on Social, Email, Content Marketing
About the data: Findings are from a survey of 520 strategic marketers across businesses (57%) and
agencies (31%), conducted by Bizo Strategic Marketing during the week of August 8, 2011.

27. Bianca Buckridee
AVP, Social Media Engagement
SunTrust Bank

28. The Socialnomics of Social Media
28

29. LinkedIn
29

30. The Business of Social Media
48% of consumers combine social
media and search engines in their In 2009, social
buying process (GroupM) gamers bought
$2.2 billion in
~140 Million Tweets are sent each day (Twitter)
virtual goods.
96 % of Americans use Facebook
46 million This is predicted
73% of the US Americans to increase to $6
internet population check their billion by 2013.
visits Facebook
each month social media (NPD Group)
profiles daily
30

31. Role of Social Media at SunTrust
Your brand isn't what you say it is - it's what people tell their friends it is.
Extend Integrate
Build Meet consumers Products &
loyalty where they are our reach Humanize
Interact the brand
Services

32. Social Media Channels
Information Service
Dialogue SunTrust Facebook SunTrust Facebook
Live Solid Facebook
SunTrust Twitter @askSunTrust Twitter
Live Solid Twitter
Bank Statements Bank Statements Blog
32

33. Live Solid Facebook
Conversations Apps
Polls Contests
33

34. Live Solid Fans & Followers
Financial Service Facebook Fans
We have 15,740+ fans on Live Solid Brand (Likes)
Facebook and 1,500+ followers on Twitter
Mint (founded ‘07) 118,019
Visa Signature 178,100
We have 3,720 fans on SunTrust Facebook
and 3,011 followers on Twitter ING Direct 49,452
Vanguard 20,946
TheStreet.com 18,684
SunTrust has nearly 24,000 Live Solid 15,741
fans and followers across all Charles Schwab 14,486
of our FB and Twitter Wells Fargo 10,531
channels, which is more SunTrust 3,718
than most competitors in Regions 2,141
the industry! Wachovia 1,730
34

35. Live Solid Dialogue
Daily discussion • Live Solid Tips, distributed
topics and posts each day, garner the most
retweets and “Likes”
fueled by the brand
average 60,000+ • Fans have shared that they
impressions/day like the simple, actionable
advice the tips provide
Top Trending Discussion Topics: Fan Demographics
Buying a car 29% of fan base is 35-44
Setting a budget 77% female | 21% male
Getting out of debt Top 5 Cities: Atlanta, Nashville,
Planning for the future Tampa, Washington, D.C. and
Livingston
Maintaining a Healthy Lifestyle
35

36. Live Solid Facebook Demographics
36
YTD Facebook Insights Report: pulled 8/5/11

37. SunTrust Enters The Conversation…
37

38. @askSunTrust
Simple engagement and empathy can defuse a
situation that can result in viral negative publicity
and associated costs.
- Staffed response team in STOLI, 4 and counting…
- Process: Identification/Evaluation of clients key
- Officially launched 10/13/09
- Currently at 1,832 followers and Klout Score 56
38
Primary service channel of all ST social channels

39. Monitoring & Engagement: CoTweet
39

40. CoTweet Searchpad
40

41. How Our Clients Use Twitter
Identify Issues Compliment Service Share Info | Ask ?s
41

42. How Our Clients Use Facebook
42

43. Third Party Recognition
SunTrust’s social media program has
been featured in:
• Advertising Age
• U.S. News
• Bank Technology News
• American Banker
• Bank Investment Consultant
• Industry conferences including:
BAI, BAFT-IFSA, LIMRA,
Connections, Cloudforce and
Dreamforce
43

44. What Works AND What Doesn’t…
What Works… What Doesn’t Work…
Decide Who You Want To Be Decide Who You Want To Be
Strategy: service or marketing? Robotic responses
Tone: honest, empathetic, witty Retreat when under attack
Conversation Conversation
Know when to join Ignoring direct feedback
Know when to escalate Ignoring issues that require
Know when to ignore immediate addressing
Establish community guidelines
Response Strategy
Response Strategy Taking comments personally…
Map out crisis scenarios Not having a plan
Align stakeholders
44

45. Brand Awareness & Prospects
45

47. Outbound+Inbound Integration = Effective Marketing
Source: Forrester Research - April 2009 “Campaign Management Needs A Reboot”

48. Cross-Channel Marketing
Database Segmentation and Campaign Customer Interaction
Management Program Planning Planning and Production Tracking and Reporting
Prospective SegmentOffline
A
Program Performance Measurement
Identify
Lead Qualification / Lead Management
Customers Customers
• Offer/ Message
Customization / Personalization
& Prospects
Customers with • Channel
Customer • Timing
Campaign Development
Specific Needs
Demographics
Product /Service Segment B
Needs, Interests Offer
Select
• Offer/ Message
• Channel
Products
Information • Timing Online
Purchased
Offline
Analytics Segment C
and Model Scores
Determine
Timing • Offer/ Message
Campaign • Channel
Response History • Timing
Channels
Data Acquisition / Database Updating

49. Interactive Marketing Hub™ from ExactTarget

50. Thank You!
Joel Book
Principal, Research & Education
ExactTarget
jbook@exacttarget.com
@JoelBook
http://www.linkedin.com/in/joelbook
Bianca Buckridee
AVP, Social Media Engagement
SunTrust Bank
Bianca.Buckridee@suntrust.com
@blatantlybianca
http://www.linkedin.com/in/biancabuckridee