B3 Seminar: Social Media in the Financial Sector - Laura Crimmons & Fiona Dunphy
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Social media in the financial sector Social media in the financial sector by Laura Crimmons & Fi Dunphy
Transcript of B3 Seminar: Social Media in the Financial Sector - Laura Crimmons & Fiona Dunphy
Social media in the financial sector
Social media in the financial sector by Laura Crimmons & Fi Dunphy
Social media in the financial sector
Contents • What’s new in social and why should your brand care?
• What is social customer service?
• What can you measure & how do you demonstrate ROI?
• Who’s doing it well?
Social media in the financial sector
What’s new in social and why should your brand care?
Social media in the financial sector
Facebook • Ranked comments
• Mobile share button
• ROI tracking
• Gifts & Collections
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Twitter • Twitter cards
• Improved search
- View photos and videos first
- See headlines and photos on mobile
- Contextual understanding
• Advertising available in the UK
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Google+
• Authorship analytics
• Business page in SERPs
• Google+ Local
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Social Customer Service
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The Social Customer
Source: Fishburn Hedges
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Engaged Brands
Source:
Socialbakers
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Expected Response Time
• Overall average response time is 26 hours – two hours over the expected time
• Financial industry average is just over 9 hours
Source: Conversocial
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Don’ts × Send generic responses
× Be sarcastic
× Engage in arguments
× Ignore complaints
× Refer customer to a call centre/general email address/website
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Don’ts
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Don’ts
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Dos Include operating hours in bio
Respond ASAP
Include name/initials in sign off
Check the customer’s history
Offer to contact the customer directly
Try to go the extra mile
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Dos
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Who should be responsible?
Channel management
PR
Customer Service
Agency
Marketing
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Employee conduct
Outline a clear policy on social media conduct: • From company profiles
• From personal profiles
• From company network
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What can you measure and how do you demonstrate ROI?
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Think of your social media followers as your customers/ potential customers – now you have a wealth of information about them that 5 years ago marketers could only dream of
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Facebook Insights • Demographic information
• See engagement on posts to outline
clear content plan & understand what your fans are interested in
• See the reach of each post & page as a whole
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Twitter Analytics • More demographic information
• Also see who your followers also follow
to see who influences your followers and therefore where you should be aiming to put you marketing messages & content
• Which of your website URLs have been shared on Twitter, by who , how much engagement they receive and how many clicks – perfect chance to turn followers into customers and engage with them
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Google+ Ripples
• See who shared post & when
• See who is influential about the post by size of circles
Analytics on a page (coming soon)
• Who’s interacting with page
• Users’ demographics
• Info about social activities (+1’s, shares, comments)
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Google Analytics • Visits via social referral
• Assisted social conversions
• Last interaction social conversions
• Visits by social network
• Shared URLs
• Social visitors flow
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Social Media ROI • The same age-old question that’s
existed with PR and many marketing activities for years
• Remember AVE (Advertising Value Equivalent)? That’s now laughable
• Trying to come up with a real formula for social media ROI may be a bit like using AVE
• = (Tangible Related Revenue + Estimated Intangible Related Revenue – Cost of Social Media) / (Cost of Social Media)
Social Media
ROI
Brand Awareness
Customer Service
Traffic/ conversions
Reputation/ crisis
management
Brand identity/ persona
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Social Media ROI
“63% of people connect with
businesses on social media sites”
“48% of people have made a purchase based on a post by a business
they follow on social media”
“An additional 34% clicked a link and
considered making a purchase”
“35% of people have made a purchase based on a post by a friend or
connection”
“An additional 22% have clicked a link and
considered making a purchase”
Source: AYTM
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Who’s doing it well?
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Barclaycard • Nearly 700k views on YouTube
• Over 5k likes of video on Facebook
• Peak talking about figure of 9,400
• Increase of over 4k fans
• All this in the last 2 weeks…
Facebook Fans
Twitter Followers
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Taking Social Seriously – AMEX UK
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Small Business Saturday – AMEX US
Video case study
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Compare the Meerkat
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Combining online/offline – cross-platform campaigns • Synergy between offline PR & customer
service
• Social media is essentially your online customer facing platform
• Everything you say offline should be reflected in what you say online and vice versa
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[email protected] - @fidunfi
[email protected] - @lauracrimmons
www.branded3.com
Questions?
Social media in the financial sector
#B3Seminar @Branded_3
