This presentation explores how people are discussing their finances online, bringing the story to life with real data. It goes into who is talking, about what, and how social media analysis can help the financial industry reach its consumers on issues they care about. A presentation @abc3d, @andrewneedham and @rikineill gave at the Tangible Financial Seminar - Money Talks.

1. Money Talks
October 2010, Edinburgh

2. Money is one of those ‘objects’ so pervasively
embedded in our everyday experience that
it disappears from our perception
as an autonomous entity

3. Only when something happens we focus on its meaning
and realize once again that it goes way beyond being
just a measuring unit

4. Money is a physical thing and a cultural construct. It
represents at the same time wealth and human needs.
Money is a ‘social representation’, like myths, religions and
any other system of collective signs.

5. This makes social media the richest insights field ever
and an unprecedented opportunity
for the financial industry

6. But like in the Draughtsman’s Contract, we need a grid
to look at reality and make sense of it

7. partitioning
reducing complexity hierarchy
independence

8. mining for patterns
decoding the shape of phenomena,
rather then micro values

9. What is Pulsar?
social media monitoring analysis and strategic
and analysis software consultancy from Face
9

10. Key system components
3
1
Analy1cs
Web
crawler
So;ware
analy=cs
tools
and
human
searches
for
specific
analysts
process
the
key-­‐phrases
in
a
data
methodical,
automated
manner
4
Online
DB
relevant
pages
Dashboard
stored
in
an
online
live
interac=ve
database
dashboard
generates
real-­‐=me
data
visualiza=on
and
2 customized
reports

11. Outputs
What
is
being
said
about
your
products
and
brands
and
iden=fy
the
What major
themes
and
issues
When Compare
and
contrast
buzz
generated
over
=me,
iden=fy
peaks
of
ac=vity
against
ac=ons
and
events
Where Which
are
the
key
online
venues
for
these
conversa=ons
and
where
around
the
world
they
are
taking
place
Who Who
is
shaping
the
debate
and
who
are
the
key
influencers?
Discover
why
conversa=ons
are
happening
is
it
posi=ve,
nega=ve
or
Why neutral,
and
determine
the
impact
on
your
business

12. We looked at a range of financial
products - targeting key areas
Mortgages
Credit
Cards
Savings
Investments

13. We looked at a range of financial
products - targeting key areas
Advice
Mortgages
The
Big
5
Advice
Building
The
Big
5
Credit
Cards
Socie1es
Independents
Recession
ISAs
Advice
Stocks
Accounts
Savings
Investments
Banks
vs
Building
Bonds
ISAs
Socie1es
Shares
Overseas

14. 1 month of tracking

15. 1 month of tracking
An average of 2902 mentions a day*
* Across all four areas

16. 1 month of tracking
An average of 2902 mentions a day*
A total of 101,580 mentions*
* Across all four areas

17. Where
are
they
talking?

18. The financial ‘expert’ is still the
most vocal
16000
14000
12000
Blogs
10000
Micro-­‐blogs
8000
Forums
6000
Social
Networks
4000
Video
2000
0
Mortgages
Credit
Cards
Savings

19. The real hub of conversations for
most products is still forums
1200
1000
800
Blogs
Micro-­‐blogs
600
Forums
Social
Networks
400
Video
200
0
Mortgages
Credit
Cards
Savings

20. But not just financial forums…

21. But not just financial forums…
Thebump.com
CafeMom.com

22. But not just financial forums…
Thebump.com
CafeMom.com
Thestudentroom.com

23. But not just financial forums…
Thebump.com
CafeMom.com
Conversa1ons
will
happen
in
the
communi1es
consumers
trust
to
provide
good
advice.
Some1mes
that’s
financial
experts
But
some1mes
its
people
who
understand
your
circumstances
Thestudentroom.com

24. In investments the speed of micro-
blogs has been embraced
Blogs
Micro-­‐Blogs
Forums
Social
Networks
Video
Investments

25. What
are
people
talking
about?

26. The pride of saving is something to
shout about
That moment of ‘starting the road to saving’ is
something to tell your friends about.
has
achieved
something
great:
I
have
opened
a
Savings
account
and
am
in
the
process
of
saving
the
moneys
for
the
FUUUTURRRE
Wooooo
savings
account
star1ng
to
look
preNy
nice
:P

27. But the recession taboo on debt
seems to have slipped…
During
the
recession
credit
cards
became
an
embarrassment
Up
to
May
credit
card
lending
figures
from
the
Bank
of
England
remained
low

28. But the recession taboo on debt
seems to have slipped…
During
the
recession
credit
cards
became
an
embarrassment
Up
to
May
credit
card
lending
figures
from
the
Bank
of
England
remained
low
Now
it
looks
like
people
are
returning
to
being
happy
to
talk
about
credit
card
use.
It
looks
like
a
return
to
the
pre-­‐recession
comfort
with
credit
cards
is
a
likely
possibility…

29. And a lot of news sources are talking
about mortgage debt troubles

30. …but people don’t seem happy to
admit to their troubles online
The discussion of mortgages and the recession doesn’t
translate through to the hubs of conversation - forums and
social networks

31. So
what
about
the
double
dip…

32. Its being talked about the most in
relation to mortgages…
Unsurprisingly the dip’s more direct relation to the
housing market has made it a strong conversation
topic in mortgages…
3.5%
Of
conversa=ons
in
mortgages
1.3%
Of
conversa=ons
in
investments
0.66%
Of
conversa=ons
in
savings
0.39%
Of
conversa=ons
in
credit
cards

33. But its not consumers who are
talking…
450
400
350
Blogs
300
Micro-­‐Blogs
250
Forums
200
Social
Networks
150
Video
100
News
50
0
Mortgages
(Double
Dip)

34. But its not consumers who are
talking…
450
400
350
300
Recession:
247
Reac=ons
Blogs
Micro-­‐Blogs
250
200
Double-­‐Dip:
13
Reac=ons
Forums
Social
Networks
150
Video
100
News
50
0
Mortgages
(Double
Dip)

35. But its not consumers who are
talking…
Most of the real discussion is happening on news sources and
blogs – consumers haven’t really started talking about the
double dip.
450
Yet.
400
350
300
Recession:
247
Reac=ons
Blogs
Micro-­‐Blogs
250
200
Double-­‐Dip:
13
Reac=ons
Forums
Social
Networks
150
Video
100
News
50
0
Mortgages
(Double
Dip)

36. Some thoughts to take
away…

37. Some thoughts…
Engaging
with
consumers
is
likely
to
be
achieved
through
forums
–
but
social
networks
and
news
sites
are
opening
social
spaces
as
well.
Widening
the
scope
beyond
the
financial
forums
is
beneficial.
You
might
be
able
to
encourage
consumers
to
tell
people
about
their
savings
and
share
their
feelings
about
their
account.
But
you’re
unlikely
to
get
them
to
talk
about
to
you
about
their
mortgage
troubles,
it
looks
like
an
online
social
taboo.
The
double
dip
is
beginning
to
factor
in
online
conversa=ons
–
but
it
doesn’t
seem
to
be
something
that
consumers
have
engaged
with.