The document discusses strategies for financial services companies to build trust and engagement on social media through improving their EdgeRank score on Facebook, borrowing peer-to-peer trust, becoming more transparent, building one-to-one relationships, and creating valuable content to increase followers. It notes that many consumers have a "trust gap" regarding financial advice and are more likely to consult multiple sources before acting on a financial advisor's recommendations.

1. Rising Above the Noise:
Facebook’s EdgeRank and
Solving the Trust Gap
Augie Ray
Director of Social Media
Prudential

2. Look! A Fan Surge!
170,000
160,000
Bank Transfer Day
150,000
140,000
11/19
130,000 159,577
120,000
110,000
100,000
10/22
90,000
66,353
80,000
70,000
10/20 10/23 10/26 10/29 11/1 11/4 11/7 11/10 11/13 11/16 11/19
@augieray #bdi1

3. All Fans are Not Created Equal
High Value Fans Low Value Fans
+$ -$
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4. The Simple Facebook Equation
FansA * ∑ Ue We De = Success
@augieray #bdi1

5. The (Slightly Less)
Simple Facebook Equation
FansA * ∑ Ue We De * b = Success
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6. Look! Lots of Engagement!
Total Insurance Conversation Percentage of Social Media
Volume by Brand Conversations by Topic
Company #1
Use/Choose/
Company #2 Recommend
Switch
Company #3
Not use/Drop/
Not Want
Company #4
0% 50% 100%
@augieray #bdi1

7. It’s Not Just a Facebook Issue
You’re followed, but are you on Twitter lists?
You’re followed on LinkedIn, but who cares?
It’s easy to forget that the goal isn’t to be liked or
followed, it’s to earn attention, consideration,
awareness and advocacy.
@augieray #bdi1

8. Chicken or egg?
1. Follow/Like
2. Engagement
3. Trust
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9. The trust gap
55% say “It’s hard for me to know who to trust for
financial advice.” (2012 Household Financial Planning
Survey, Certified Financial Planner Board of Standards &
Consumer Federation of America)
Millenials are four times more likely than baby boomers
(28 percent vs. seven percent, respectively) to say they
are unwilling to act on the advice of a financial advisor
without first consulting other sources. (Accenture)
@augieray #bdi1

10. The trust gap
Choosing a new advisor: HHs w/ $100k to $1mm
Offers products from a variety of companies
Depth of products & services
Fees or commissions charged
Investment track record
Individual provides transparency & keeps me informed
Individual is honest and trustworthy
0% 50% 100%
Source: National Association of Personal Financial Advisors
@augieray #bdi1

11. Use trust that already exists
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12. Borrow peer-to-peer trust
Fidelity’s Stock Plan Services communities
allow sponsors to discuss with peers:
• New regulations and industry trends
• Opinions of Fidelity’s products and services
• Administrative best practices
45% of Fidelity's SPS client base registered to
use the site
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13. Become more transparent
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14. Build one-to-one relationships
Source: July 2012 “Collaborative Advice,” Forrester Research by Bill Doyle
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15. Build trust with content
Goal: Increase followers of Christopher Taylor, head of Financial Institutions.
• Posted content
• Banner Ads
• Targeted InMail to VPs, Owners, Partners
& C-level in FinServ
• 700,000 ad impressions
• 850+ ad clicks
• 1,000 new connections in six weeks
• Email had open rate of 14% & CTR of 15%
@augieray #bdi1

16. Out of an abundance of
“ caution, many mutual funds
and other investment companies
may file materials on their social
media sites with FINRA
unnecessarily.
”
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17. Thank you!
Augie Ray
@augieray