Presentation is loading. Please wait.

Presentation is loading. Please wait.

Social Media and Banking Erin Handel Managing Director Education J. Michael Beird Managing Director Financial Services,

Similar presentations


Presentation on theme: "Social Media and Banking Erin Handel Managing Director Education J. Michael Beird Managing Director Financial Services,"— Presentation transcript:

1 Social Media and Banking Erin Handel Managing Director Education J. Michael Beird Managing Director Financial Services,

2 Overview of Todays Presentation What is social media? Is Social Media a Fad? Why should I even bother…and should I even bother? What are other banks like yours doing with social media What works and what doesnt Whats the future of social media for banks? How are banks like mine getting it done (time, resources, money) How can I convince my bank to support the adoption of social media Reasons banks are and are NOT doing it – voice of the banker A five step plan to get started now

3 What is Social Media? Social Marketing Leverages the value that customers place on sharing among each other and the bank Provides for two-way communication between customers and the bank

4 What is Social Media? Is it a Fad?

5 Social Media is now the activity on the Internet

6 If Was a Country…. 1.China 2.India 3.Facebook (950 Million) 4.United States 5.Indonesia

7 5 Primary Ways in Which Customer Interact with Social Media Channels 1.Obtaining information or assessing recommendations 2.Finding apps or downloads 3.Asking a question or addressing an issue 4.Seeking discounts or rebates 5.Responding to a good/bad experience 7

8 Most banks, however, are still NOT involved in Social Media sites like Facebook or LinkedIn

9 Of the most common venues, banks use Facebook the most, but lesser-known or private channels dominate

10 Presidents and Marketers are the Main Decision Makers around Social Media

11 Well, should you or shouldnt you? Why some banks utilize social media and others do not….

12 Reasons for why banks choose to participate in Social Media vary widely

13 Cost – Its FREE! It's free advertising. It would be crazy not to It's free (except for your time) Why would you not participate? It is a free marketing avenue.. a good way to let people know of our banks community involvement & etc.

14 Perception of coolness Because it is the trendy thing to do right now We do for our younger customers...appealing to the younger generations able to reach the "new" computer generation

15 Helps Customers Concerned about customer security, but feel the need to participate One more way to connect to customers

16 Reasons why banks choose NOT to participate in Social Media also vary widely

17 FIs Dont Belong There We have decided it is probably not something we should get tangled up in I have more important things to do than continually check to see what messages I have received when I have actual people beside me that I can converse with

18 No Hard Business Metrics We can not agree on the pros and cons - I personally can see some benefits but also see some problems We do not see any business advantage to participating in social media

19 Dont Know Enough About It Don't know anything about it UNCERTAINTY There are many unknowns that we are not comfortable with at this time, we are taking a wait and see approach

20 What Doesnt Work? Doing everything Having no specific, measurable goals Having no plan, no roadmap Inconsistency Always selling and telling

21 What Does Work? Not reinventing the wheel Being consistent Listening to the conversation Engaging and responding Not overpromising Providing value

22 Any Social Media policy requires the right players HR IT Compliance Marketing Board of Directors

23 What Treasury Professionals should do NOW! What do you need to get started? Pick your social media team Find out what customers are saying Pick your Top 5 SM goals Outline a policy Get Started! What if you DONT want to do anything in Social Media? Watch trends Learn more Assess the competition Stay opened minded

24 Questions? Erin Handel, Managing Director – Education Bankerstuff, a cbanc Network Company J. Michael Beird, Managing Director – Financial Services Bankerstuff, a cbanc Network Company


Download ppt "Social Media and Banking Erin Handel Managing Director Education J. Michael Beird Managing Director Financial Services,"

Similar presentations


Ads by Google