Post on 05-Dec-2014
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Western Union Confidential
©2010 Western Union Holdings, Inc. All Rights Reserved.
From Telegrams to Twitter:
Introducing Social Media in a Historic Company
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Western Union: From cutting edge communications…
1851 Western Union was founded in 1851 as
the New York and Mississippi Valley Printing Telegraph Company
1856 The company changed its name to
Western Union in 1856 to mark the consolidation of several telegraph lines in what was then the Western-most reaches of the American telegraph system
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Western Union: From cutting edge communications…
1866 In 1866, Western Union introduced the
first stock ticker
1933 In 1933, Western Union delivered the
first singing telegram
1935 Western Union introduced the first inter-
city facsimile service
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Western Union: From cutting edge communications…
1974 The first commercial satellite in the U.S.
was introduced by Western Union in 1974
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Western Union: From cutting edge communications…
Corporate
Missteps
This 'telephone' has too many
shortcomings to be seriously
considered as a means of
communication. The device is
inherently of no value to us.
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… to global financial services
1871 Western Union introduced money transfer
in 1871
1980 In 1980, revenue from the money transfer
service exceeded telegram service revenue for the first time in Western Union history
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… to global financial services
2009 In 2009, The Western Union Company
handled 196 million consumer-to-consumer money transfers and nearly 415 million consumer-to-business transactions
Today The company’s Agent network includes
approximately 430,000 locations in 200 countries and territories
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©2010 Western Union Holdings, Inc. All Rights Reserved.
Our review processes are thorough
8
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In 2006, Western Union became an independent company again
9
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Broad Internet access can be perceived as risky in highly regulated companies…
Malware
Viruses
Spam
Backdoors
Hackers
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While social media is often perceived as just a waste of time
Networking
Virtual Communities
Instant Messaging
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The importance of communication
12
Western Union passionately commits to doing business
the right way and we are always looking for new ways
to grow beyond our core business.
Consumers value the services we offer. What we do,
helping people stay connected, brings vitality to
relationships. And thinking responsibly for the company
and the community is the anchor of how we do
business.
Investor Relations
Financials
Stock Information
Corporate Governance
Fundamentals
Events & Presentations
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Email us
©2010 Western Union Holdings, Inc. All Rights Reserved.
Corporate questions and employee guidelines
13
Who owns social media?
Which functions in the company would benefit most from social media?
Does the benefit of immediate access to customers outweigh the risk of potential missteps or inadvertent disclosures?
How do we implement a system of “real-time” checks and balances?
How do we retain a “corporate voice” if we open up the medium to multiple groups or employees?
Be transparent
Be accurate
Be judicious
Write what you know
Add value
Your Responsibility: What you write is ultimately your responsibility
Were you wrong? If you make a mistake, correct it
If it gives you pause, then don’t post it
©2010 Western Union Holdings, Inc. All Rights Reserved.
Internal social media at Western Union
14
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Social media and customer engagement
15
©2010 Western Union Holdings, Inc. All Rights Reserved.
The scale of socialization
Talk to (or at) your stakeholders
Listen to your stakeholders
Respond to your stakeholders
Learn from your stakeholders
Engage with your stakeholders
16
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Leveraging established audiences
Social media marketing at Western Union
Social Home on the Web (in place of corporate blog) Traffic Driver, aggregator
Blogger
Outreach
Visually compelling showcase
YouTube & flickr
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Photos from the “Random Acts of Giving Tour” were shared through Facebook and Flickr
18
The “Random Acts of Giving” Tour Bus
©2010 Western Union Holdings, Inc. All Rights Reserved.
Western Union on You Tube
Brand Campaign TVC
How it Works
Foundation Video
19
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Sometimes what you hear is very positive Sometimes… not so much
20
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While Western Union was concerned with pricing, consumers were concerned with…
“A 2009 social media review
found that more than 35% of
Western Union mentions were
related to fraud”
21
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Western Union and Facebook teamed to warn consumers
22
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For Western Union, LinkedIn has become a customer service tool
23
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Learning from our customers
24
We have found that a spike in this
type of communication often
coincides with changes in our
systems or procedures
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From Alterian’s Engaging Times Summit
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Customer engagement
25
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From Alterian’s Engaging Times Summit
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Foundation Facebook campaign: key learnings
26
Cross-promotion via the charities involved contributed greatly to our success
The campaign saw drop-off during the holidays: any similar efforts will take place earlier in the year
Flow for voting and the instructions throughout the application could be simpler
Everyone wants to give back and they want to share their good deeds with their friends
The majority of online discussions around the effort took place in blogs
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Western Union is introducing social media elements designed for its Agents
27
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The next phase of social media
28
Consumers are demanding that
companies connect with them
where they are. And where they
are is on Facebook, on Twitter
and Foursquare and countless
other sites.
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From Alterian’s Engaging Times Summit
Western Union Confidential
©2010 Western Union Holdings, Inc. All Rights Reserved.
Thank you Questions?
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