Social Media In Financial Services Lee Provoost Headshift
1. Social Customer Self Service
in financial services sector
Lee Provoost, Technology Strategy at Headshift
Social Media in Financial Services
13 January 2010, London
http://www.flickr.com/photos/reservasdecoches/3199872487/
2. Headshift, part of the Dachis Group
smarter > simpler > social >
Headshift is Europe's leading
social business consultancy.
We help organisations use smarter,
simpler, social technologies to improve
business performance, communication
and employee engagement.
London | Sydney | Austin
6. Social Customer Self Service
What’s in it for me?
“... study of the Lenovo community noted a
20% decline in the rate of call volume
comparative 2007 to 2008 time periods ...”
http://lithosphere.lithium.com/t5/Enterprise-on-the-Surface/bg-p/scott/date/8-1-2009
Lower TCO of support.
Faster response time.
Scalability in peak situations
7. Fidor Bank AG
Banking with friends
Matthias Kroner, CEO Fidor: “It is the people who are the bank.”
http://www.fidor.de/
http://www.slideshare.net/SOMESSO/matthias-krner-innovation-in-banking-finance
http://www.youtube.com/watch?v=0nJ97CGcJJk
9. Zopa
Marketplace for Social Lending
People lend and borrow money with each other, sidestepping the banks.
http://uk.zopa.com
10. Customer Communities
The benefits
• Reduced cost in dealing with customer contact
• Greater reach when interventions are made
• Gradual creation of a knowledge base, co-created by members
• Generation of interesting data for customer care, marketing and PR
http://www.flickr.com/photos/stevenwarburton/3209461104/
12. Community Manager
The intentional creation of a community
Task:
• Set the tone of the boards.
• Welcome new users.
• Thank users for contributions.
• Summarise discussions.
• Act as the face of the brand.
Background:
• “social media junkies”
• ex-community leads
• Customer care
• Technical support team
Enjoy engaging with customers!
http://www.flickr.com/photos/renaissancechambara/3543135684/
13. Return On Investment
Show me the money
Natalie and Forrester modelled some ROI estimates on a hypothetical company
with 500,000 customers that receives approximately 30,000 calls per month.
In the report, she calculates that over a three-year time frame, such a typical
company will probably need to invest approximately $1.2 million for a well-
functioning online customer service community.
The estimated payback in benefits will be seen within the first year, Forrester
estimates. The analyst firm’s model suggest that the first-year outlay for the
hypothetical company will total about $500,000 in start-up costs, but will return
about $900,000 in benefits. Benefits will continue to accrue at about $900,000
a year in the years after than, while annual costs will run about $400,000.
Forrester Research - The ROI of Online Customer Service Communities
http://www.fastforwardblog.com/2009/07/16/roi-found-here-online-Customer-
service-communities/
14. Everyone is an ambassador now
The bigger picture
http://darmano.typepad.com/logic_emotion/2009/11/tweeting.html
15. Customer Community Platforms
Overview with some of their high profile clients
Jive Social Business Software
Telligent
Awareness Social Media Marketing
Lithium
16. Thank you!
Q&A + Contact details
Lee Provoost
Technology Strategy at Headshift
Twitter: @leeprovoost
E-mail: lee.provoost@headshift.com
http://www.headshift.com
London SE1 2NQ
http://www.flickr.com/photos/stevezaslavsky/1363027861/
