1. The document discusses advocacy and how to build a community of passionate brand advocates using social media. It provides examples of companies that have successfully engaged advocates like ICICI Bank in India and First Direct bank in the UK.
2. The company SoMazi is introduced as a leading strategic social media consultancy that helps companies amplify and monetize social engagement using their Advocacy Relationship Management (ARM) model which motivates advocates through gamification, rewards, and continuous engagement.
3. SoMazi's founder Maz Nadjm is recognized as a top social media influencer and their simple principle is that any social media involvement should drive financial gain for companies.
Insurers' journeys to build a mastery in the IoT usage
SoMazi - Finance industry educational package - Part 3
1. e
Social Media for Financial Institutions:
Educational Package – Part 3
SoMazi is one of the world’s leading strategic social media consultancies, specialising in
amplification and monetisation of social engagement.
www.somazi.com
2. 2 The Importance of Advocacy
Why You Should Care
This week’s report focuses on
advocacy – what it is, how to create it
and who has successfully utilised it.
To learn more about how to build your own community of passionate advocates and to
see some successful examples of advocacy in your industry, keep reading.
Why Are Advocates Important?
1. They are frequent creators of positive information.
2. They influence the opinions of others.
3. They love to talk, and probably are already talking
about your brand.
4. They want to use social media to help others.
5. They want to be recognised by brands for their
valuable insights.
6. They have a broad reach.
7. They are loyal to brands with which they have a
relationship.
(source: Social Media Examiner, 2011)
Did You Know?
Brands with high advocate populations
get 264% more earned media
impressions than average brands.
(source: Wildfire Report, 2013)
3. 3 Social Advocacy
What Is It?
A social advocacy program gives
the motivation and the means to
an individual to become an
informed and passionate part of
your brand voice.
PASSIONATE
COMMITTEDMOTIVATED
ADVOCATE
Advocacy is linked with user behaviour.
We apply behavioral psychology
principles to determine how to best
motivate participation.
4. 4 The SoMazi Way - Social ARM
ARM: Advocacy Relationship Management
Social
ARM
How it Works
Social Stars
High Influencers
Social Grassroots
Peer Influencers
Content &
Experience
Activation
Conversation map &
search intent model
Give insights, content
strategy & measurement
benchmarks.
Create
remarkable content
Advocate maps
Enable advocate sharing
& spreading word-of-
mouth.
Engage the right
influencers
Activate social
channels & manage
conversations
Provide engagement &
experience, driving
word-of-mouth.
Drive communities to
advocate, take action
Why it Works
Visit
microsite
Engage with
apps
REWARD
CTA leads to
Facebook
Engage in
simple quiz
REWARD
CTA leads to
Microsite
Engage with
apps
REWARD
Head to
Twitter
Engage
REWARD
With each cycle, the reward is harder to achieve. This
stimulates competitive behavior, involvement, and
consistency.
Gamification-led model incorporates a continuous loop of
triggers, actions, rewards, thereby extending brand awareness
Gamification
5. 5 Engaging With Your Followers
Examples Of Successful Follower Participation
Place customers at the heart of
everything you do – ask them
questions on interesting topics and
showcase them on your site
Increase interest and engagement
whilst creating brand loyalty through
reward systems and competitions
6. 6 Engaging With Your Followers
Examples Of Successful Follower Participation
Show customers that you care by
posting content relevant to their
current situation
Encourage followers to upload
content and participate using
gamification
7. 7 Best-of-Breed Examples
Who’s Doing It Right, Right Now?
Learn more:
http://www.somazi.com/2013/08/social-media-and-the-finance-industry-4-banks-who-lead-the-way/
ICICI Bank
ICICI Bank was the first bank to offer a Facebook application to its customers, allowing
clients to check account details and generate mini statements. The bank also uses the page
to provide exclusive offers, helpful tips, product details and customer care services. Through
both answering and asking questions and prompting people to ‘like’ and ‘share’ posts they
help engage their users, grow their brand and strengthen their community. The results are
impressive. The number of ‘likes’ on Facebook has soared from 800,000 to over 2 million in
less than 18 months.
First Direct
Their ‘Little Black Book’ site allowed customers to recommend places to go and things to do,
interacting with the brand without necessarily interacting with the bank. Through their social
platforms they invite UK residents to share their thoughts and suggestions on various
services and products. Their Facebook page remains engaging due to a constant stream of
interesting facts, questions and videos, whilst their community is kept active through
participating in conversations and answering questions themselves.
8. 8 SoMazi
At a Glance
• In 2012, Forbes included Maz in its Global Top 50 list of Social Media Power Influencers.
• In 2011, The Sunday Times listed Maz amongst its Global Top 50 Social Media People.
• In 2010 Maz was asked to join a select research team at Oxford University’s Business
School to address the subject of ‘Social Media and Innovation’.
• He is a judge at the Shorty Awards alongside the likes of Steve Wozniak (“Woz”), Jimmy
Wales of Wikipedia, and Craig Newmark, founder of Craigslist.
• Maz is an advisory board member for the globally renowned “Social Media Week” and
“Social Media World” events.
SoMazi was founded by social media specialist Maz Nadjm. His background in blue-chip multidisciplinary
cross-channel social media amplification has seen him rise to become one of the world’s leading social
media authorities.
SoMazi operates on a simple principle – any involvement in social media should drive financial gain
Contact Info:
18 Steynings Way
London N12 7LN
England
Maz Nadjm
Mobile: 07960811351
Landline: 02035981294
Email: maz@somazi.com
Website: www.somazi.com
Twitter: @Somaziww