The document discusses the impact of social media on banks and financial institutions. It argues that social media is here to stay and will fundamentally change how banks communicate with customers. Banks now need to engage customers on social media to build trust and loyalty, as people increasingly turn to social platforms to share opinions and find product information from other users. While many banks are now active on social media, most are still hesitant and do not understand how to effectively utilize these new channels and platforms.

1. The numbers reveal: Is Social Media another fad or is it here to stay? Dr. Benedikt Köhler, Munich

2. Yet another fad?

3. Or here to stay?

4. What is Social Media? „ A variety of digital media and technologies that enable users to exchange among themselves and create media content, individually or in community.“ 1. Presentation of self in every day online life 2. Exchange of information, opinions, experiences or emotions in real-time 3. Collaboration and creation of content

5. Communication and banking via Social Media?

6. Communication and banking via Social Media?

7. Communication and banking via Social Media?

8. Banks used to be like this: Big is beautiful

9. Banks used to be like this: Walls & Fortresses

10. Banks used to be like this: Fake conversations

11. Banks used to be like this: Complex products

12. Banks used to be like this: Talk = Sales

13. Banks used to be like this: Behind counters

17. Internet growing as fast as TV did

19. Users are looking for product information

20. 5 Dimensions of Corporate Social Media Corporation 2.0 Social Media Newsroom Corporate Blog Brand Monitoring Real-Time Support Trainee Blog Branded Channel

22. People don’t trust bankers

23. People trust their peers – online!

24. Consumers 2.0 – Sapere aude „ Banks sell what‘s most profitable for them … Really good deals can only be found on the web … I‘m doing research myself and this way I get a truly independent offering.“

25. Finance – between tourism and fashion

26. Sparkasse with largest buzz in Social Media

27. Word of mouth can be positive … Friendliness Good Service Security Good Interest Rates

28. … or negative Failure Technical System Error No Money Transfer Disguise Mysterious Not Executed

29. … or “interesting”

30. New Conversational Landscape: Homepages

31. New Conversational Landscape: General Interest

32. New Conversational Landscape: Special Interest

33. From Mass society to Individualization

34. 2 out of 3 German onliners use Social Media

35. More than 90% of teenagers use Social Media

36. Strongest growth in generation 60+

37. Social Networking more popular than Email

38. Online is a primetime medium … today!

39. 16% of banks are active in Social Media …

40. … whatever „active“ means

41. Après moi, le déluge

44. Social Media means a shift from Brands …

45. … to faces …

46. … and stories!

52. Social Media is not for everyone

54. Thank you very much! Questions? More information: http://www.ethority.de