90 Minute Kickstart for Busy Bank Professionals
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This 90-minute webinar will focus on giving busy executives & staff exactly the information they need to know about Facebook and Twitter: how these social networking tools are being used in business today and how they might be used to enhance organizations moving forward. There are more than 100 million active users on Facebook in the United States every day and 52 million active users in the United States are now active on Twitter. As more people turn to their mobile devices to deliver calls, email, and important news; social networking is becoming easier every day. Businesses are tapping into social media as a way to connect with customers, increase visibility, and collect and share information. What social media monitoring can tell a business about their brand is impressive. Savvy organizations are using this data to propel their mission forward. Attending this overview webinar will leave participants with a clear idea about what Facebook and Twitter can do for them and will alert them to what similar organizations are already doing.
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90 Minute Kickstart for Busy Bank Professionals
- 1. 90 Minute Kickstart Facebook and Twitter for the Busy Community Bank Professional
- 3. Poll #1
- 4. What We Know 2010/2011 – CitiBank trains 100 staff to handle online social media customer queries 2010 - Sweden’s SEB establishes online community for treasury and finance professionals – The Benche 2011 - FirstDirect launched first transactional banking app for smartphones Older generations are now the fastest growing segment using social media sites
- 6. FirstDirect
- 8. Why Social Media Matters Businesses that ignore social media do so at the risk of becoming irrelevant Social media activity ≠ More money Social media activity Greater engagement, impact Social Media is not a fad
- 10. Concerns Where to begin Legal liability Time management
- 11. Poll #2
- 12. Where to Start:Social Media Maturity Responsive Creative Engaged Passive
- 13. Where to Start: Three Social Media Musts Policy Planning Monitoring
- 14. Where to Start: Policy What’s out there Adapt to your needs Share with employees Update annually
- 16. Where to Start: Plan/Goal Setting POST Methodology P – People O – Objectives S – Strategy T – Technology
- 17. Example #1: CBTV People – Current customers of the bank with secondary/ passive focus on potential customers Objectives – Increase engagement with current customers and enhance word of mouth Strategy – Providing helpful information with community; annual recipe calendar intended as a community building/marketing project Technology – Facebook, Twitter
- 19. No call to action – no response or engagement with public
- 21. Missed opportunity to share legal disclosure regarding information security on site
- 23. Missing social media links
- 24. Example #2: Ally Bank People: Current and potential customers Objectives: To encourage engagement and community building Strategy: Reaching out via technology using humor and a friendly “voice” representative Technology: Facebook, Twitter, YouTube, Blog
- 26. Legal information aboutpersonal and banking information security Engaging with industry professionals as well as customers…building relationships
- 28. Asking questions and starting conversations…advanced relationship building
- 30. Links “above the fold” on homepage
- 31. Where to Start:Monitoring Simple to use: http://bit.ly/gQNEe2 Assign email account to Google Alerts page Time Management features: Instant Daily Weekly Google Alerts to search: “Name of Bank” “Name of Bank” location Industry terms related to bank Prominent names affiliated with bank Competition names More Alerts Tips: http://bit.ly/googleicba
- 40. Time Management Development from Social Media Following up on suggestions Sharing knowledge gained from monitoring Developing programs as a result of social media activity Monitoring Social Media Google Alerts Tweetdeck SocialMention.com Engagement in Social Media Posting information & responding to people Asking questions Looking for ways to engage
- 41. Now What? Identify where you are in Social Media Maturity Three Musts: Monitoring, Planning, Policy Focus on one area at a time, starting with monitoring Identify POST goals for social media Identify time allotted to social media development Review findings by end of each fiscal quarter; assess and benchmark success
- 42. Poll #3
- 43. Feedback Questions?
- 44. Thank You @kikilitalien on Twitter kiki_litalien on Skype klitalien@delcor.com Ms. L'Italien is senior consultant, technology management for DelCor, an IT consultancy firm. Her focus is helping organizations connect with member communities through effective communications and social media strategies.
Hinweis der Redaktion
- A lot can happen in 90 minutes.Everyone approaches a webinar with the question: will this make a difference to me? So let me make a promise to you early on that I will share with you some truly helpful examples that can help you update your ideas social media for the banking industry and piece together a smart way to set goals, manage time, and keep on top of what people are saying about your association and your industry.Your role as an association leader is powerful because your members look to you for guidance on everything from legislation to education on social media. Don’t underestimate the importance of your role or the importance of being a part of this today, because today’s 90 Minute Kickstart webinar is meant to both inform and inspire and I hope it does both. So let’s talk about how banking is an ideal industry for change using social media…
- Wouldn’t it be great if this kind of social media was all you needed? Ahhh, the power of the Dum-Dum. Not the most fabulous candy in the world, but the first bank in my life, Commerce Bank in Missouri, always gave them out whenever I went through the drive through or into the bank with my mother.They knew my mom would appreciate them handing a bit of sugar to an impatient child in the back seat. They knew the child would appreciate the bank teller for giving it to them…unless it was root beet flavored, which was my least favorite flavor, don’t you know.They were building relationships with smiles, Christmas Clubs, and Dum-Dums. They still are.But now when I drive around with my daughter, I don’t go through drive-throughs or visit inside. I go to anonymous ATMs or change money around on my laptop. If I read the newsletter they emailed out to me, I might visit my local branch when they held a blood drive or had some other community event. But I usually never open that email. And my daughter never even sees the inside of the bank to find out if they give out candy anymore. The power of the Dum-Dum has diminished as we’ve found more and more ways to connect with the personality of the local bank more and more and that is NOT what a community bank wants when being there, supporting the community, knowing its citizens, is its biggest asset or selling point.So, how are banks forging those relationships now? Everything has its Yin and Yang. Technology has taken some tradition opportunities to connect away, but in exchange has given us ways to reach out and build relationships in a different way. ##Wecan’t venture too far into discussing social media without first discussing the parallels between the activity that makes social media work so well for building relationships and the tactics banks can use to recruit and retain customers. It’s really always been all about relationships. People are motivated to engage with people or businesses who make them feel good. We can look at Maslow’s Hierarchy of Needs and see that if we can appeal to people in any manner that makes them feel better, they will reward us with their business, their word of mouth, their support. Sustainable agriculture and farmers markets are growing in popularity as more and more people are driven to spend more money to support local business, healthier options, and let’s be real, supporting things that make them feel better about themselves.Banks have always meant dum-dums to me. Every time I went with my mother to the bank, whether we walked inside or used the drive-thru, I always looked forward to getting that piece of candy. My mother knew the bank-tellers by name and they knew her. Everyone knew each other and we all ran into each other in various spots because in Webb City, Missouri, there weren’t that many spots to choose from. I still keep a bank account there, even though I don’t live there anymore, just because I feel a loyalty to them. When I go back in town, I use the drive-thru and don’t recognize the tellers, and I have my own daughter, so I don’t get the dum-dums anymore. But I keep that account because my memories of that bank are good. So as I began working on this presentation I asked myself, “what creates that loyalty?”Banks have struggled to make their customers feel special. Two-thirds of U.S. consumers in a 2006 IBM survey said they didn't feel valued by their banks. Wonder how they’d respond today?But not all banks have operate this way. Social Media is all about building relationships and loyalty…instead of going to the local Kiwanis Club meeting or church, many people are gathering together and connecting online…they are still people who are still influenced by the things their acquaintances do….the places they go, the things they buy, the stores and companies they use. Banks have the opportunity to become a positive community force today and positioning one’s bank to be friendly, helpful, and educational to the community is easier with the help of technology.
- #1 Can you tell me which of the following is the fastest growing segment of online social media users?
- Social media is no longer a trend aimed at capturing only the interest of Gen-Y consumers – it has gone mainstream. In fact, the largest growing segment in this area is people over 50 years of age…. The 50-74 years olds are changing their habits on communicating and the Gen Y customers don’t know of a time without online news and information. Communication trends have changed. The fad question is irrelevant. We want everything available to us at any time. Who wouldn’t?Given the growing size and age of the social media’s audience we can’t afford not to understand how to leverage it to grow and strengthen our business.Some larger banks are taking this seriously. At the beginning of this year, CitiBank launched its specially trained social media staff online to handle customer queries after hiring a well-known social media presence Frank Eliason, who was best known for turning around Comcast’s abysmal customer service reputation online by starting the Twitter handle @comcastcares. CitiBank is now asking Mr. Eliason to do that for them and now has over 100 Franks to make sure that it happens and everyone is watching. I’ll share a glimpse of what that looks like with you in a little bit.Getting customers to engage in a corporate-sponsored online community is a major feat, but Sweden's SEB (SkandinaviskaEnskildaBanken) mastered the task by taking a no-sell approach on its online community for treasury and finance professionals. This is another interesting way banks are reaching out to build relationships. People do business with people (or organizations) they like, trust, know. The Benche is providing a place for conversation and allowing the SEB to host that party and be the thought leader for the industry.FirstDirect is getting onto the Fourth screen, that little buzzing mobile device we’re calling a phone, but that’s really becoming more and more of a computer everyday. They are trying to be the hip, technologically savvy presence in banking that is providing customers with convenience and building community by offering things like discounted concert tickets to bank members on their Facebook Page. Think that’s better than a Dum-Dum? ##Facts:1. The average student between 16 and 24 has 140 Facebook friends, 80 Twitter contacts, and 30 acquaintances from other online and offline networks. (from 1/14/11 Wiki Geeks Project – Phase 1, Cambridge, Mass.CitiBank and Frank Eliason from Comcast Cares Getting customers to engage in a corporate-sponsored online community is a major feat, but Sweden's SEB (SkandinaviskaEnskildaBanken) mastered the task by taking a no-sell approach on its online community for treasury and finance professionals. www.thebenche.comFirst Direct banking app (2011)
- We’ll discuss what CitiBank is doing later, but here’s a glimpse at the online community effort Sweden’s SEB is investing in…in this case an open, free community that has the Bank well-known for leading the way in social media.There's definitely value in getting specific answers or networking with executives who have similar jobs in the industry you serve, which is what members of this site are able to do. The Benche can be found on Facebook, YouTube and on Twitter.Social media can be a hard concept for banks to get. Remember, we’re going from center of town, people coming to them for service and Dum-Dums to ATMs and less interaction in person. Now with social media, the bank's behind the scenes and building trust with customers in a new way. ##
- And here we have thefirstdirect Party in your pocket idea where there is a bank stepping forward to embrace technology by having the most advanced banking app on smartphones first and using Facebook to reach out and reward members for following them. Customers can now use smart phones to access their accounts exactly as they use Internet Banking - only on the move. All Internet Banking with first direct, including on a smart phone, is stated to be “fully secure and covered by their online security guarantee.” They even have a podcast to use to explain the app. [“See how you can keep track on your finances whilst on the move with our banking on the move podcast.”]But are we ready for that? It’s something to think about…##
- If you have time after this webinar, you might check out FirstBank’sFacebook Page, which illustrates the conversational, friendly tone that seems to work best for social media. You won’t see the typical marketing speak here…instead you see wall posts from the bank that remind you that you are talking to a human being. You can visualize the smile that your bank representative has…you start to like them and by relation, you develop feelings for the organization. An authentic voice is key in forging new relationships online. Every connection, member, customer is a pearl. ##
- The good news:No big box bank can compete with community banks in building relationships on a local level…as long as the community banks are recognizing that this is their strength. People want to support their local businesses. Documentaries are educating people about large organizations and they want to support the home team. Unless the hometeam isn’t easy to find online…and then they might just go with the easier choice…the bank with the most ATMs in their area. Because if they don’t feel a connection to their community bank, why would they choose it unless it won out on convenience?People always seem to want to know the ROI for social media and I can tell you this: Social Media activity will not automatically translate into cash for any organization. Just like belonging to the local Chamber of Commerce won’t necessarily get a business man a certain amount of dollars in a year. It isn’t a get rich scheme. Social Media isn’t a magic trick. Social Media is only as good as the relationships you build as a result of it. The Focus needs to be onBuilding Relationships in the Community and today that includes the online community, as well. Instead of only showing up at the country club or charity events, banks need to show up online. Otherwise they’re missing the party. ##
- People are:Playing more gamesWatching TV without commercialsReading newspapers online, if at allEngaging with high school friends and family onlineGrowing accustomed to doing almost anything from their smart phonesWhere are banks reaching existing and potential customers? E-newsletters? Newspaper ads? Television ads?My hope would be that with some strategic thinking, bank leaders (and any organization leader) would recognize the reach of social media.But I know, I feel in my bones, the doubt…the raised eyebrows…the concern felt about social media….especially when looking at the banking industry. ##
- So let me address some of these fears right now.A popular concern is where one should even start when there are so many tools out there? Who will do it? How will we handle training? Should we start on one platform versus another? (Worrying about “Where to Begin” is usually replaced by, “Now what?” when you get started. Its like raising kids…you get through one phase and have that mastered and then it’s time to move on to the next…we’ll talk about that growth in maturity in a little bit.)Obviously legal liability is a concern. What are the risks? Will people post their bank account information online? How can I meet the security guidelines and interact online? This is a question on everyone’s minds since the law is always playing catch up with technology.Finally, time management seems to be the 3rd biggest concern usually mentioned. It sounds like this: We are already maxed out on employees and I have no idea who will have the time to manage all of this. How much time will it take? How will I know if it is worth it? Will this add on to my own workday?No one wants to be burdened with these types of concerns. So, I think it is best of we break these fears down and discuss them one by one and talk about organizing your social media efforts and those of your members. Your community banks are looking to you for guidance and how better to teach than to lead by example? So let’s take a quick poll to see who is still with us. ##
- #2 How mature is yourorg’s social media?
- Passive: In observation mode. Getting the lay of the land. Listening. Goal us to learn what convos are happening, where they are happening and how often, and you start laying out your approach with what you learn.Responsive: Taking the first step in engagement online. Still listening, but also responding to active dialogue. Usually that would look like basic responses to mentions on Twitter and blogs or FB pages…Engaged: At this point, your org is ready to not just participate in existing convos, but maybe start some of your own…startinga blog or initiating convos in your social networks like Ning, Twitter, or on a FB Page. Your leading the convo, not just following.Creating: A Step beyond engagement. More than just a convo…generation of meaty, useful, content for community and potential community.this would include a full content marketing strategy that incl development of independent content to ext thought leadershipIdentifying where you stand now is important. The next step is figuring out what to do next. Every organization in the year 2011 has THREE SM MUST-Haves…##How much time will it take? Based on your availability of time, with a minimum of 5 hrs per workweek for the least amount of activity, and moving up from there, here’s how it should work out percentage wise…1. Passive: 80% Monitoring and Research/20% Measuring2. Responsive: 60% M&R/20% Responding/20% Measuring3. Engaged*: 50% M&R/<20% Initiating/20% Responding/20% Measuring4. Creating*: Content creation: 50% M&R/40% Creating/10% MeasuringEngagement and outreach: 40% M&R/20% Initiating/20% Responding/20% MeasuringWhat about people? Although this is often 1 person in small organizations, if there are more, it could something look like this:1 team member = 10-15 hrs/wk LISTENING 1-3 team mems = 5-15 hrs/wk Engaging, Initiating & Creating1 team member = 5-10 hrs/wk Measuring
- Every business, every association, every mom and pop store needs these three elements in social media to survive. A Policy, A Plan, and regular Monitoring. The Policy is of course the policy you create and share with internal staff and volunteers. It covers what is allowed and not allowed when communicating online with members or the public at large. There are a number of different variables that go into this and while it can seem like a daunting task, there is help available and I’ll get back to that in a minute.Planning and having a social media plan is critical. Even if your idea is to remain passive, you still need to address how you will handle any sort of social media crisis or customer service issues that will arise. No one can escape the need for a social media plan, if anything, to give the staff an understanding of the direction the organization is headed using social media tools. Without a plan, you’d be surprised at the trouble that can come into play. Fake Fan Pages. Fake Twitter handles representing the name of your org. Which brings us to…Monitoring. Monitoring can be done very easily, but it is probably the easiest social media task that everyone ignores while needing the most. If you do nothing else, monitoring your brand online is critical to providing your organization with due diligence. It is like having a telephone ringing in your organization that no one answers. Someone has to listen to what is being said…in this case on the other side of that computer screen. It may be good. It may be bad. Worse yet, it may be absolutely nothing.
- I just want to say a quick word about having a social media policy. Without this, your employees have no idea whether they are breaking rules or not if they respond to a customer on their personal Facebook site, if they blog about your organization, or if they decide to promote your services on their LinkedIn page. Having a policy helps everyone know what they can and can’t do to make the organization better when using social media. They don’t need to be overly restrictive, but the fact remains that every organization needs one right along with every other HR policy that is shared with new hires.I know that ICBA has a Social Media Policy and it is my understanding that it can be made available to you following the webinar, which is perfect because if you don’t already have one, a great way to start is to take what’s already out there, adapt to your needs, of course review it for legal advice and approval, share with employees and then regularly review as your social media maturity or plans change.
- Many times online you will see Online Privacy Statements like this one that link to pages focused on various policies and this is a good idea for large organizations with many members and volunteers. That way you can refer them to a webpage that answers their questions about your rules concerning social media.Of course, if you fail to plan, you plan to fail (let’s give a special nod to Benjamin Franklin who allegedly passed that along to us long ago), so we need to decipher what it is we are trying to do with social media at all so we can create our plan. ##
- Who will be using it? Who is your audience?Who will be championing it?Who will execute the plan? Who will do the work?Who will not be participating? Who will not be part of the team?What exactly are you trying to accomplish?Are you seeking to educate or inform?Are you seeking to energize or evaluate?What are the metrics of success? How will we know if we are accomplishing our goals?Think of the “S” as “Steps”What is the timeline and schedule for roll-out?What is the budget?What resources are available? Manpower & headcount?What is the decision-making tree? Who’s ultimately responsible?Your strategy is not a tool or technologyLook to answer core needs/goals/mission as an organization with tools. Simpler implementation and tools is often the best.Due diligence and patient decision-making is underratedIt’s about relationships - not just what you buy, but sometimes who you buy...
- Okay, so we’re going to apply POST to what a few examples have already done so we can learn how this practice works and identify what some banks are doing well with social media and where they could be doing better.I’m going to share with you a quick assessment using POST Methodology and then walk you through their use of social media. Okay? Okay.So Example #1 is the Commerce Bank of Temecula Valley in California…I’m guessing they didn’t set out on their social media journey with a strategy. And I will share with you why I have come to that conclusion…
- What do we see here? What are your observations on how they are using this tool? What are they doing well? What are they doing not so well?Would you say they are successful at using Facebook? I can tell you it depends on your vision of success…
- So this is their Twitter Page. Again, what do we like about this page? What could be better? What do you see this page’s objectives being, based on the tweets here?
- Notice anything odd about their homepage? Let’s take a look at their homepage and evaluate their social media efforts from it…Difficult? Why?
- Okay, let’s run through this again with a different bank…Our focus for today’s talk targets Facebook and Twitter specifically, but it should be noted that video is increasingly important to consider when constructing your social media plan…
- There’s a lot of hype in the social media realm over the dozens of new tools and dashboards that help you keep an eye on what people are saying about your company. Indeed, online reputation monitoring and management is quickly becoming a must-have for your marketing strategy. It is every business owner’s dream to be able to keep tabs on their brand name. Now, they can swoop in and clean up after a dirty situation. Likewise, they can reward or thank people for good mentions.
- Identify where you are in Social Media MaturityThree Musts: Monitoring, Planning, PolicyFocus on one area at a time, starting with monitoringIdentify POST Goals for Social MediaIdentify time allotted to social media developmentReview findings by end of the quarter, assess, and benchmark success
- #3 So what’s the first thing you’re going to do now that you’ve heard all of this about social media?