Course Materials SUCCESSFUL SOCIAL MEDIA … Materials SUCCESSFUL SOCIAL MEDIA STRATEGIES FOR...
Transcript of Course Materials SUCCESSFUL SOCIAL MEDIA … Materials SUCCESSFUL SOCIAL MEDIA STRATEGIES FOR...
Course Materials
SUCCESSFUL SOCIAL MEDIA STRATEGIES FOR TODAY’S COMMUNITY BANKER
Eric C. Cook Digital Strategist
WSI Digital Marketing Battle Creek, Michigan
[email protected] 269-841-5007
August 11 & 12, 2016
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Successful Social Media Strategies for Today’s Community BankerGraduate School of Banking
August 11‐12, 2016
Instructor: Eric Cook
@EricCook• Banker For 15 Years
• MBA & Graduate School of Banking (GSB, Madison)• 2003 Graduate – Faculty Now
• Consultant Since 2007
• Focused on Community Banking and Digital Marketing
• Contributing Author – Digital Minds
• Co‐Founder ‐ DigitalRCP
• Let’s Get Social – About.Me/ECook
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2nd Edition on Amazon…
http://bit.ly/wsi-book2(DOWNLOAD on Amazon Kindle for FREE)
First, Let’s Get Online…
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The Social Opportunity is Real
And The Younger Generation?
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Digital in the United States
Source: We Are Social SG
Socialnomics
Insert Video
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Look Who’s on Social…
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Yet, Is This Your Reality?
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Developing Your Digital Road Map
Key Goals
AttractRetain
ConvertMeasure
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Who Needs to “LIKE” Social Media?
ComplianceEmployees
Your CommunityYour Institution
We Must Become SocailWhile Mitigating the Risks…Security
Privacy
Compliance
Productivity
Reputation
Legal Issues
RELEVANCE
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FFIEC’s Final Guidance on Social Media
• Risk-based strategy• Mandates monitoring• Formal policies and procedures• Third-party vendor management• Staff training & education• Compliance and audit• Reference to existing regulations• Get it… http://bit.ly/ffiec-final
Source: FFIEC & The Financial Brand
FFIEC Guidance – Risk • The FFIEC is concerned that social media usage creates a
higher risk profile.• Increased risks can include:
• Risk of harm to consumers• Compliance and legal risk• Reputation risk
• Risk can arise from:• Poor due diligence• Poor oversight• Poor controls
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FFIEC Guidance – Risk • The guidance discusses four main areas of risk:
• Compliance and legal risks• Reputational risks• Employee use of social media• Operational risks
• The guidance states that the list of risks is not exhaustive.
Risk Takes Many Forms
• Incomplete Strategy• Lack of Commitment• Insufficient Resources• Poor Channel Selection• Incorrect Metrics• Leak of Corporate Info• Negative Feedback• Inappropriate Content
• Lack of Engagement• Loss of Control• Excessive Use by Staff• Personal/Work Confusion• Data Theft• Virus/Malware Threat• Technical Issues• Advertising
Committee Brainstorm Discussion – Comprehensive List
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We Manage Risk Every Day
Source: The Altimeter Group
The Risk Management Process• What’s the cause of the RISK• Identify any EXISTING CONTROLS• What’s the LIKELIHOOD and IMPACT• Recommended CONTROLS• Assign to a DEPARTMENT• Make someone ACCOUNTABLE
Complete The Process Annually (at least)
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Readiness Assessment
1. Leadership Commitment
2. Social Media Knowledge
3. Customer Engagement
4. Competition
5. Staff and Resources
6. Social Media Plan7. Process
Documentation8. Policy and
Measurement
Are You Prepared? Eight Key Areas…
Readiness Assessment (cont.)
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GAP Analysis● Conduct planning session based on desired state● Identifies
areas offocus
● Groupdiscussionandbenchmarks
First, Do You Know Who YouShould Be Connecting With???
Not all customers are the same
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Top 10 Key Profitability Questions1. Understand relationships
and service usage2. Location performance and
competitive threats3. Products and contribution
to bottom line4. Companion services (what
else can you offer your customers)
6. Sales reports by employee, location and market area
7. Analyze trends over time8. Track campaigns for ROI9. Analyze +/- accounts,
customers, households10.Refresh data regularly
Source: BancTrac Solutions
Understanding Customer Profitability• Identify who is making you money• Understand their profile/persona
• Some businesses have a ratio of 115/10!Vilfredo Pareto
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Then, Consider OperationalizingYour Social Efforts
There's a Genuine Financial Impact
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Coming Soon – LinkedIn Elevate
It’s a Mobile/Social WorldWhat networks are people using?
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Social Networking Activity
“More than half of the U.S. population uses social networks regularly, and Facebook continues to lead the market. But pay attention to mobile social networking, where Twitter, Instagram, Pinterest and Tumblr are all significant players. That’s where the next phase of growth is happening.”
~Debra Aho Williamson – eMarketer principal analyst
Social Media Sites
Source: Pew Research Center
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Image Based Platforms Growing
Digital Disruptors…Technology is shifting consumer’s expectations on “who does what”
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World’s Largest Taxi CompanyDoes not own any vehicles
World’s Largest Accommodation ProviderDoes not own any real estate
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World’s Largest Phone CompaniesDon’t own any telecom infrastructure
World’s Most Valuable RetailerHas no inventory
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Who?
Source: Companies are eBay, Amazon, Alibaba, JD.com, and Rakuten. Per publicly available company data, Morgan Stanley Research.
World’s Most Popular Media OwnerCreates no content
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Yet Engagement is a Challenge
http://marketingland.com/want-maximum-reach-facebook-dont-post-photos-118536
Reach vs. Stock Price 2013-14
Source: Convince and Convert
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World’s Largest Movie HouseDoesn’t own any cinemas
World’s Largest Software VendorsDon’t write their own apps
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What Are The ImplicationsFor Banking?can we be replaced…
Banking Industry Disruptors• Recent article in International Banker
• Focused on 11 digital disruptors in banking• Key findings
• Lower cost and higher rates (Currency Cloud and Traxpay)• Focused on transparency• Leveraging social media, big data and peer sharing (Lenddo,
Fidor Bank, Lending Club)• Digital-only now a viable option• Still gaps in types of services and delivery channel
Read More: http://bit.ly/banking-disruptors
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Your Competition???
Source: Accenture
Your Competition?
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FICO – “F” Stands for Facebook• Facebook wants to
be like a credit bureau• Lender will submit a
request for informationfrom Facebook’s servers
• Will provide social circleinformation with averagecredit score of friends
Digital Consumer TrendsWhat else are people doing online?
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Ever Heard of Mary Meeker?• VC/Partner with Kleiner Perkins
Caufield & Byers• Annual State of the Web report• Focused on digital trends• Access full slides…
• http://bit.ly/marymeeker-2016
US Internet Advertising Growth
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Google and Facebook Ad Growth
Missing the Mobile Opportunity
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Messaging Apps = 2nd Home Screen
Messages Matter• You can now set up a short URL to make it easy for
customers to message you and carry on a conversation!http://m.me/PAGENAME
http://m.me/ecook
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Missing Your Filtered Messages • Check to see if you have any… I did!
Average Mobile App Usage
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Best Ways for Businesses to Contact Millennials (it’s not the telephone)
Live Video Streaming – It’s Here!
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Facebook too (YouTube Coming Soon)
But YouTube Live Streaming DOESWork on Desktop
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BTW: YouTube is a Search Engine…
Common Search Phrases
Remote Deposit
3,180 Business Loans
327,000
Mortgage Loans
15,300
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Millennials Are Addicted to Mobile
Source: Zogby Analytics.
The Impact of Mobile on Search
In 2015 more searches were performed on a
mobile device than on a desktop computer!
Source: Google
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Mobile/Location: A Personal Story
The ULTIMATE “Out and About”
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Google Knows!• April 21st (’15)– Google’s
“Moblilegeddon” update• 2015 mobile search surpassed
desktop searches• Yet, 77% of global websites are NOT
mobile-friendly• SEO implications on when consumers
are searching for you via mobile
Are You Awesome?• http://bit.ly/g-m-t (Google Mobile Test)
This is what you want Google to see!
bit.ly/g-m-t
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Social Media TipsSome advice you can “take to the bank”
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Leveraging LinkedIn1. Professional profile photo2. Engaging headline3. Personalize your profile
URL4. Make contact info
accessible5. Visitor-focused work
summary
6. You need activity7. Recommendations8. Join groups and
participate9. Skills and endorsements10.Humanize the experience
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Step 1 – Your Profile Picture• Humans look at faces• We make instant
judgements• First chance to build a
first impression!• LinkedIn is
“Professional”• So should your head
shot
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Step 2 – Your Headline• Very important
section• Don’t focus only on
your job title• The headline is “Power”
• Shows up in all searches• When you post to groups
• Needs to demonstrate:• What you actually do• The problems you solve
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Step 3 – Personalized LinkedIn URL• If you don’t
specify• Generic URL
with numbers• Personalize then
it easy to:• Use on business
cards, email signature etc.• Use your name, not company
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Step 4 – Contact Information• No.1 thing you want
prospects to do?• CONTACT YOU!!• So make it easy for them
through a variety of mediums
• Make sure in mobile friendly format
• As 2nd & 3rd degree won’t see:
• Include in summary section too
• Perhaps even allow apt booking?
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Step 5 - Summary• Must demonstrate the value
• You offer clients/prospects• NOT your accomplishments
• Unless your looking for a job!!
• Best profiles demonstrate:• What’s the value proposition• The problems you solve• The type of people you help
• Bring to life with attachments• Videos/brochures etc.
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Step 6 - Activity • The updates:
• Click next to Messageto see recent activity
• Create posts:• To demonstrate
your expertise• And grow your “authority”
• They show up on:• your connections timeline • and daily digest email
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Step 7 - Recommendations • Place just below summary
• Maybe with endorsements• Vital when prospects researching
• 70% done before they contact you!• Client recommendations are vital
• But 360 degree useful too• Do a good job first, then ask for it!• Ensure that you follow bank policy
on co-workers or clients
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Step 8 - Groups • A catalyst to business development
• To LEARN or EDUCATE• Can join up to 50• Think like your buyer/prospect
• What topics & trendsare interesting
• Prospects & influencers• Don’t SPAM!
• Act as you would F2F
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Step 9 - Skills & Endorsements• The “social signal”• These are the proof or evidence
of ability• Invest some time to manage
these• They WILL become even more
important in time• Skills-based search
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Step 10 - You’re a Real Person• Take the time to personalize
• Change invite text• Say “Thank You”
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Please Stop Doing This…
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Showcase Pages• Products & Services
are GONE
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Groups – 3,904 Results!
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Personal Hero Images
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Getting “Heard”Owned – Earned – Paid• Owned: Direct visits
• Most will just login (GONE unless you keep ‘em)• Earned: Organic rankings
• Content strategy for SEO ranking• Paid: Budget for traffic
• PPC• Banner/display• Ensure you’re using landing pages and tagged URLs to track
activity• Bonus – Consider remarketing/retargeting
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Think Like a Publisher – Not a Banker! Content is King
• News releases• Blog content
• With moderated comments• Videos
• Testimonials, tutorials,commercials
• Infographics• Presentations
• SlideShare.netCreate a Content Calendar to Keep On Track
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Information Overload?It’s not a case of Information Overload as much as it’s a case of Filter Failure.
-Clay Shirky
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Two of my Favorites
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Start by Listening, then Share
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Easily Share
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Pay Attention to Your Best Clients• On Facebook• On Twitter• On LinkedIn
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So How Do You Remain Relevant?• Train and empower your employees to engage
• Organic reach will continue to be a challenge• Your employees are there anyway
• Consider new channels• Use more images to tell your story• Leverage video to become familiar
• Embrace mobile• Website, apps, engagement, location
• Focus on providing value and being genuine, not just selling products
Five Closing Thoughts1. Visible - Ensure that you’re mobile-friendly2. Reputable - Consider implementing a customer review
plan (90%)3. Extend - Empower and train your staff so they can HELP
spread the word on social media4. Efficient - Find the tool(s) that work for you (work smarter,
not harder)5. Measure - Keep an eye on your reports to see what’s
working
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#FinalChuckle
https://www.youtube.com/watch?v=57dzaMaouXA
Don’t Forget Your Book!
http://bit.ly/wsi-book2(DOWNLOAD on Amazon Kindle for FREE)
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Let’s Keep in Touch!Eric Cook
FreeWebinarWednesdays.comAbout.me/ecook
http://bit.ly/wsi-book2