Web 2.0 and Social Media are revolutionizing the way companies interact with consumer and customers. Banks and financial institutions cannot avoid to innovate in those areas and this presentation shows some examples and ideas to start a discussion.

1. http://www.socialmediaeasy.it Roberto Grossi | Social Media Easy

2. Definitions (from Wikipedia)
Social media are media designed to be
A social network is a social structure disseminated through social interaction,
made of individuals (or organizations) created using highly accessible and
called "nodes," which are tied scalable publishing techniques. Social
(connected) by one or more specific media supports the human need for
types of interdependency, such as social interaction, using Internet- and
friendship, kinship, financial exchange, web-based technologies to transform
dislike, sexual relationships, or broadcast media monologues (one to
relationships of beliefs, knowledge or many) into social media dialogues (many
prestige. to many)

3. In other words …
Conversations happening on:
• Blogs
• Microblogs
• Wikis
• Photo sharing websites
• Video sharing websites
• Social Networks
• RSS
• Forum
• Chat
• Podcast
• Bookmarking
• Virtual worlds
It is like being at a business reception
cocktail without time or space
http://theconversationprism.com/
constraints.

4. Myths and Facts
Social Media are for young It's popular in the US but not
people in the rest of the world
• The fastest growing Facebook • Close to 70% of the 250M
demographic is those 35 years old Facebook users are outside the
and older. United States.
• 80% percent of Twitter users are • According to a Market research
over 25. published in October 2009 by
Weber Shandwick, 50% of the
• In the US just less than 1/3rd of respondents in Italy are
the population now visit social interested in interacting with my
networks at least monthly. their brands through social
networking websites.

5. 18 Millions Social Networks users
in Italy

6. WHY BOTHER ABOUT SOCIAL MEDIA ?

7. 2/3 OFF THE GLOBAL INTERNET POPULATION VISIT
SOCIAL NETWORKS
Nielsen, Global Faces & Networked Faces, 2009

8. TIME SPENT ON SOCIAL NETWORKS IS GROWING
AT 3X THE OVERALL INTERNET RATE, ACCOUNTING
~10% OF ALL INTERNET TIME
Nielsen, Global Faces & Networked Faces, 2009

9. VISITING SOCIAL SITES IS NOW THE 4TH MOST
POPULAR ONLINE ACTIVITY – AHEAD PF
PERSONAL EMAIL
Nielsen, Global Faces & Networked Faces, 2009

10. 13 Million articles available on Wikipedia
100,000,000
The number of YouTube videos
viewed per day
Source: Universal McCann Comparative Study on Social Media Trends, April 2008 - Nielsen, Global Faces & Networked Faces, 2009

11. 1382% the monthly growth rate of Twitter users
from January to February 2009
3.000.000 the average number of
messages (“Tweets”) per day on Twitter

12. 93% OF SOCIAL MEDIA USERS BELIEVE A COMPANY
SHOULD HAVE A PRESENCE IN SOCIAL MEDIA
Cone, Business in Social Media Study, September 2008

13. Impact on the final customer
Consultative selling 1:1 • WWW
• Relations
• Word of mouth (WOM)

14. New types of networking
relationships
Dentro = Out
Fuori = In
Mercato = Market
Personale = Employees
Source: Impresa 4.0, Franco Giacomazzi – Marco Camisani Calzolari

15. Consumer’s trust in banks is declining
-11%
Source: 2009 Edelman Trust Barometer

16. New challenges for banks
• Enhance communications towards employees,
market and shareholders
• Listen (from communications to conversations)
• Monitor conversations (which are out of their
control):
• Market   Market (Out – Out)
• Stakeholders  Stakeholders (Out – Out)
• Employees Employees (Out – Out)
Bank’s communications cannot afford to ignore
Social Media
Source: Impresa 4.0, Franco Giacomazzi – Marco Camisani Calzolari

17. Customer Service

18. Conversations with customers

19. Alternative media
Please note that the video has been not been shown on “traditional” media (TV, movies, etc)

20. Innovation
Facebook application
Source: http://www.flickr.com/photos/digitalpr/3391103619/

21. Mash-up
Source: http://blog.strands.com/2008/07/16/bbva-strands-personal-finance/ (BBVA project)

22. Virtual reality

23. How Social Media can help
financial institutions?
• Monitor their brand identity
• Test and get feedbacks on new products
• Develop conversations and build trust
• Launch innovative services
• Increase web visits and conversions
• Share their brand via “network friends” (viral)
• Product/service alerts via “tweets”/messages
Social Media Marketing strategy should be seen
as complementary and not as an alternative

24. Italy update
• Very few institutions are present on
Social Networks (see Innova & Bella’s
survey on Facebook’s adoption by
banks)
• Focus on intranet (v. Abi Lab report
(8/1/2010)
• “Conversations” with clients mainly
happening on thematic forums
• Examples of bank’s adoption of twitter
not known at the moment
“First to Market” adavantage for early adopters !

25. Social Media Marketing for banks:
Critical success factors
• Does it fit with company’s prospect and client
base?
• Continuous dialogue (simply being there is not
sufficient)
• Make sure social media presence protects
company’s brand
• Measure ROI
• Enough time and resources to allocate?

26. How we can help ?
Web: http://www.socialmediaeasy.it
Twitter: @socialmediaeasy
Email: info@socialmediaeasy.it
This presentation can be found in:
http://www.slideshare.net/socialmediaeasy
Roberto Grossi
Social Media Easy
Viale Colli Portuensi 10
00151 Roma
Tel.: +39 06 452215417