Social Media Business Council Minneapolis, August 13

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Marketplace 4.0 at @CMEGroup August 13, 2009 @allanschoenberg BlogWell Minneapolis

description

Building the social media marketplace in financial services.

Transcript of Social Media Business Council Minneapolis, August 13

Page 1: Social Media Business Council Minneapolis, August 13

Marketplace 4.0 at @CMEGroup

August 13, 2009@allanschoenbergBlogWell Minneapolis

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• Agricultural Commodities

• Energy• Metals• Interest Rates• Equities• Foreign Exchange• Alternative Investment

Products

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1.0

2.0

3.0

1848 – today- Original “crowdsourcers”

2002 – today- For profit status leads to new audiences

2004 – today- Electronic trading >50%- 85 countries

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4.0

2007 - today

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If it’s news, it affects our customers.

If it affects our customers, it affects us.

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Loyalty: Improve customer service

Advocacy: Build and maintain support

Brand enthusiasm: Turn customers into “fans”

Be a leader in financial services social media and influence opinion on what matters to us

Extend the benefits of our brand – innovation, service, confidence – through new channels

Social Media: Strategy or Tactic? Yes

Not a silver bullet

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Determine Where Your Customers Are…

Post merger with the CBOT in October 2007

Customer run Facebook group page

Engaged the creator; today we manage

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Then Start Giving Them Choices

CME Group Fan Page created November 2008

Allows for more insight and richer content

Twitter integration

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Then Give Them More Choices

Started in October 2008

Promote our #gflc

Today nearly 800,000 followers…and growing.

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Connect with key partners

Simple use of $ and stock symbols

StockTwits.com now offers our product symbols (@StockTwits)

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"I ended up having one of my best days in months that night," Mr. Grisafi (President, Indiana Grain Co.) said. "It really affected me, to the sum of a large amount of money.”

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Twitter = influence

Know who you follow

Know your customers

Use/create hashtags

Create original content (#exchtalk, TwitPoll)

70/30 rule

Be responsive

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Move Some Conversations to Private Venues

Utilize LinkedIn Private Groups-Careers-Media & Bloggers-Forex-Interest Rates

Authentic, transparent and safe

More control

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Opportunities by Audience

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Strategy Target Create Engage

CustomerRelations

Customers Relevant content Responsive

ReputationManagement

Customers/influencers/media

Explain & inform Answer questions

ThoughtLeadership

Customers/influencers/media

Engage in conversastion

Listen and share

Sales & Promotion

Customers Links Listen; give solutions

Issues & Advocacy

Customers/influencers/media

Relevant content Know your followers; give back

Education Non-customers Interesting content

Opportunity;relevance

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Know your limits; what you can/cannot say; Would your CEO approve?

Content

Technologies

Guidelines

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Find the resources that fit your needs; RSS reader; TweetDeck; CoTweet; Bit.ly; Facebook integration; LinkedIn; Digg; Delicious

Focus on your stakeholders; 70/30 rule; whatever you discuss/post be prepared to respond; experiment

Lessons Learned

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What’s Next?

Measure and evaluate

Educate employees

Integrate with traditional communications

Develop and integrate SEO

Implement video/audio content

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@allanschoenberg

@CMEGroup

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