Case Study: Janney’s Journey to Social Collaboration
Why did Janney make the decision to implement a social collaboration strategy? Discover the process that was followed to choose a platform to help manage social collaboration & communications. Find out what planning was done to launch the pilot, the current status, next steps; and, finally, the current successes.
Presented by: Kelly Hoffman, AVP, Private Client Group Marketing Manager at Janney Montgomery Scott
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Janney’s Journey to Social Collaboration Why did Janney - BDI 5/14/13 Financial Services Collaboration & Content Leadership Forum
1. Janney’s Journey To Social Collaboration
Kelly L. Hoffman
Private Client Group Marketing Manager
Janney Montgomery Scott LLC
2. Janney Montgomery Scott is:
▫ Small – 750 Financial Advisors
▫ Regional – 100 East Coast Offices
▫ Business – Relationship/Referral Based
▫ Nimble – Able to change and adapt quickly
▫ Collaborative – Open Architecture
▫ Content – Thought Leadership
▫ Advertising – Very little Corporate Advertising
Setting the Stage
Need for greater
brand awareness
3. Factors Weighing On Our Minds:
▫ Traditional advertising is expensive
▫ Traditional advertising is hard to track
▫ Limited staff to support additional channels
▫ Constant stream of content to be distributed
▫ Competitors began dipping their toe in Social
▫ Recruits started asking about Social Capabilities
Need for Brand Awareness
Social Media
4. We needed to determine how to:
▫ Follow regulatory guidelines
▫ Train and educate ourselves
▫ Train and educate our advisor force
▫ Be effective w/ limited resources (funds & staff)
▫ Integrate social into our existing framework
▫ Provide relevant and compelling content
The Answer Was Social
Actiance
5. We Chose Actiance Based On:
▫ Intuitive platform
▫ Customizable Training Materials
▫ Ongoing Social Education
▫ Understanding of Regulatory Environment
▫ Dedicated Support Staff
▫ Analytics Capabilities
We Partnered With Actiance
Cross
Functional
Team
6. Most important step in our process:
▫ PCG Marketing
▫ Communications
▫ Client Strategy
▫ Legal / Compliance
▫ Information Technology
▫ Partners at Actiance
Social Collaboration Begins
Social
Integration
7. Everyone had a very specific role:
▫ PCG Marketing – Plan Advisor Rollout
▫ Communications – Plan Corp. Communications
▫ Client Strategy – Plan our Corp. Strategy
▫ Legal / Compliance – Policies & Permissions
▫ Information Technology – Ziplip /Active Directory
▫ Entire Team – Repositioned existing content
▫ Partners at Actiance – Hold our hand through it all
Social Integration Begins
Plan, Plan,
Plan, Go!!
8. We could have planned forever:
▫ We set a rollout schedule that we didn’t use
▫ We created more training materials than necessary
▫ We reviewed our polices and permissions over & over
▫ We practiced and repeated and reviewed some more
And then….
All Our Ducks In A Row
On-boarded
one by one
9. We chose our best marketers:
▫ Club level advisors
▫ Exiting Marketing plans in place
▫ Use of Advisor Website Platform
▫ Use of LinkedIn for Networking Purposes
▫ Basic Understanding of Social Networks
We Just Knew It Was Time
Track,
Measure,
Improve
10. Piloted w/30 Top Advisors:
▫ Tested Training Materials
▫ Tested Social Platforms
▫ Tested Approval Process
▫ Tested Content Mix
Caught On Like Wild Fire
4 Step
Process
11. Can’t go from A to D w/out B & C:
▫ Learn the Socialite Tool
▫ Build Your Audience
▫ Plan Your Content
▫ Engage, Engage, Engage!
Advisors Like Baby Steps
Engagement
= Success
12. Advisors started to get excited:
▫ Content was distributed
▫ Connections were forged
▫ Introductions were made
▫ Prospects were targeted
▫ Messages were exchanged
▫ Meetings were scheduled
▫ Connections became clients
Success Stories Roll In
Word of
Mouth
13. 1 Year = 100 FAs:
▫ 2 hours became 30 min.
▫ Face to face became conference calls
▫ Content library became custom messages
▫ Questions became ideas
▫ Competition was born
▫ Marketing became exciting again
▫ Janney is going Mobile
Pilot became Program
Measure &
Analyze
14. Documented a baseline & set goals:
▫ 30k+ connections/followers/friends
▫ 700+ posts
▫ 600+ pieces of feedback
▫ 5.6 million estimated potential reach
▫ Thought leadership = best engagement
Where Do We Go From Here
Content,
Content,
Content!
15. Content Is King
We think about content differently:
Collaboration
is Key
16. We continue to collaborate:
Silos Have Been Dropped
Follow
Janney