«SOMshare» 2.12.2013: «Social Media @ Credit Suisse: Ein Spagat zwischen Aktivierung und...

Social Media @ Credit Suisse A Balancing Act between Activation and Regulation

December 2, 2013 – SOMshare event

Credit Suisse, Web Solutions – Barbara Müry Erni

Social Media is Changing Business and Decision-Making

92% of the users trust

peer recommendations

but

only 14% trust

advertisements*

From «Selling» to Connecting with the Audience

From «Large Campaigns» to «Small Acts»

From «Controlling the Message» to Transparency

* Source: Accenture 2011 & Nielsen 2011

December, 2013 Credit Suisse, Web Solutions 2

People Business –

Less about Technology


Culture –

Transformation towards Transparency and Dialogue


Private vs. Business


Social Media Has the Potential to Positively Impact the Entire

Value Chain

Reach &

Coverage

Reputation &

Image

Awareness &

Consideration

Client Acquisition

& Profitability

Loyalty &

Advocacy

74% said “after interacting with companies or brands via new media, I generally have a more positive impression of the company or brand.“ (Consumers Demand Brand Interaction, Oct 2009)

75% of the global internet population visits social networks (Oscar, Talential, squeaker.net, 2011)

Majority of online consumers (74%) rely on social networks to guide purchase decisions. (Gartner, 2010)

Morgan Stanley case: 40% of all financial advisors had brought in new clients via social media. 60% of those with more than $1m of assets. (Morgan Stanley, 2012)

Fans on Facebook are 28% more likely than non-fans to continue using the brand, and 41% more likely to recommend a product to their friends (Facebook, 2011)

Market Share & Bottom Line Impact 27% of the surveyed companies reported having both market share gains against their competitors and higher profit margins through engagement with Web 2.0 technologies (McKinsey, Global Survey among 3,249 Executives 2011)


As a Financial Institute we are Part of a Highly Regulated

Industry

We need to Archive any employee communication on third-party platforms such as Twitter/Facebook

Our global presences in over 50 countries have to be inline with cross boarder regulations and reflect banking secrecy

We are restricted in what we can say / sell to our clients


Key Question

December, 2013 Credit Suisse, Web Solutions

Do we want to change our culture and start sharing,

collaborating and engage in an open and transparent

dialogue with our clients but also within Credit Suisse?

8

Credit Suisse has set the Stage to move beyond Broadcasting

into Leveraging Dialogue and Listening


Dialogue Two-way

communication on

selected social media

platforms

Broadcast

One-way communication on selected

social media platforms

Status @ Credit Suisse

Governance – ready

Compliance tool – running

Identify opportunities – done

Pilots – work in progress

Listen Real time monitoring of conversations of all stakeholders in

blogs, networking platforms and discussion forums

Broadcasting on e.g. Facebook,

Twitter, YouTube, etc. – running

Monitoring tool – running

9

Credit Suisse Established a Social Media Competence Center

(SMCC) with a Global Mandate


Mandate

Permanently develop the Social Strategy

Support the business across all SM initiatives

Conduct measuring & reporting

Develop a SM training & education framework

Define & share guidelines and best practices

Approve SM initiatives & global portfolio

Organization Model:

Coordinated Hub

Strategy Development

Education & Support

Operations & Implementation

Analysis

CORE TEAM EXTENDED TEAM

Risk Management

Evaluation & Approvals

Members Core & Extended Team

Web Solutions

CORE TEAM EXTENDED TEAM

Risk: LCD, TRM

ShS: Corp. Comms, IT

LOB

LOB

LOB

LOB

LOB

LOB

LOB

LOB

Tasks Core & Extended Team

Overall Coordination

SMCC

10

The SMCC Provides a Framework which Allows Business and

Employees to Engage in Social Media in a Compliant Way


Guidelines & Policies

• External Social Media Guidelines:

Information and rules for all

employees

Information and instructions for

business engagements

• Policies:

Global Communications Policy

The Development and

Deployment of Credit Suisse

Web Sites (Global Policy)

Processes

• Social media initiative requests

pass a standardized process

• Dedicated social media advisors of

the core team support the

business from idea to

implementation

• All initiatives need to pass several

approvals before going live

Communication

• csintra.net/socialmedia

SMCC offering

Supporting documents

Request management

Social Media Blog

• Corporate News (June 6)

• One Magazine (Sept. 2)

Education / Training

• Social Media and You video

Addressing risks for every

employee and Credit Suisse

Call to action to read the

guidelines

• Social Media WBT for specialists

Do’s and Dont’s for social

media managers

11

Compliance

Training

Business

Concepts

Business

Idea Setup Launch

Social Media Initiative Request Process: From Business Idea

to Final Implementation

April 2013 TB&C - Web Solutions

Strategy

Approval

Risk & Corp.

Comms.

Compliance

Access

Compliance

Tool

Central

Approval re.

Brand

Compliance

Social Media Competence Center (SMCC)

Web STC >> Escalation and “game changing” requests

12

Every Social Media Initiative Needs to Support One of Our

Strategic Objectives…

1. Better understand our stakeholders

2. Raise brand and product awareness

3. Protect and enhance our reputation

4. Increase leads and conversion

5. Strengthen stakeholder relationships


… and Comply with Our Social Media Platform Strategy

Focus on category leaders as primary platforms

Select the best matching platform per target group and activity

e.g. for Private Clients:

− Broadcast:

− Dialogue:

− Relationship:

Comply with the channel strategy per platform:

e.g. for Twitter: one channel per region and further channels only for specific

target groups/topics assuming at least one tweet per day and for individual

accounts.


Credit Suisse has Already Started to Leverage Social Media

Capabilities Internally and Externally


Social MyPage

Ideation

Communities

Social Q&A

CS Wiki

Blog

Internal

Collaboration

Closed

Communities

Alumni Network

External

Social Media Active Channels

eamXchange

15

The Business Demand for Social Media Initiatives is High with

19 Initiatives Running and 8 Being Processed by the SMCC

Credit Suisse, Web Solutions

Talent

Acquisition: 5

Reputation

& Branding: 15

Client

Service: 7

1 2 7

1 2 1

3 3

1

2 1

1

1

1

December, 2013 16

Monitoring – Sysomos


December, 2013

Facebook – Corporate, Careers, Bonviva and Viva Presence

Credit Suisse, Web Solutions 18

https://www.facebook.com/creditsuisse

https://www.facebook.com/creditsuisse

https://www.facebook.com/creditsuissecareers

Twitter – Corporate and APAC Presence


https://twitter.com/creditsuisse

http://twitter.com/csapac

YouTube – Corporate and Hong Kong Presence


http://www.youtube.com/creditsuissevideos/

http://www.youtube.com/user/cshkwarrants

LinkedIn – Recruiting & Relationship Manager Profiles,

Company Page Updates


Eqipia – Recruiting


Lessons Learned so far

The business demand for social media initiatives is high – alignment with social

media platform strategy challenging

It is a long way from a high level idea to a detailed concept and support by the

SMCC is indispensable

To gather all the required risk assessments is a cumbersome process,

particularly for global social media initiatives

For client service initiatives risk requirements can be a major road block

To define and measure meaningful KPI with the business remains a challenge

It is difficult to draw a line between personal and professional employee activities


Q&A

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«SOMshare» 2.12.2013: «Social Media @ Credit Suisse: Ein Spagat zwischen Aktivierung und...

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Transcript of «SOMshare» 2.12.2013: «Social Media @ Credit Suisse: Ein Spagat zwischen Aktivierung und...