ama toronto - financial services presentation: overcoming obstacles to social media marketing

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OVERCOMING SOCIAL MEDIA OBSTACLES IN FINANCIAL SERVICES MARKETING OCTOBER 28, 2010 Ed Lee, Director, Social Media 1 Thursday, October 28, 2010

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We can’t do that here! Overcoming Social Media Obstacles in Financial ServicesCommunicating with customers in the 21st centuryWhile many companies that interact with consumers have been able to make social media a key part of their marketing and communications plans, financial services companies have had to tread lightly due to the various rules and regulations that govern the industry.Social media is here to stay and it’s changing the way we communicate with our customers and with each other. A vast majority of consumers use social media to find recommendations before they buy products or services. They trust that information, share it with others and make decisions based on that information. And they want to be able to reach out to organizations and company experts directly to engage in online conversations. This can be a competitive disadvantage for organizations without a presence in the web 2.0 world.The light at the end of the tunnelWe’re past the point of whether or not to consider integrating social medial into a marketing and communications strategy. The questions now are "How do we do this successfully?" and "What are the best tools for us?".There are financial services companies that have overcome the hurdles to successfully incorporate social networking tools and applications into their plans and processes. Join Ed Lee, Director of Social Media from Radar DDB as he talks about some real life industry stories about preparing organizations to make a successful leap into the social media space and take away some practical ideas for incorporating social media into your strategy.

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Page 1: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

OVERCOMING SOCIAL MEDIA OBSTACLES IN FINANCIAL SERVICES MARKETING

OCTOBER 28, 2010Ed Lee, Director, Social Media

1Thursday, October 28, 2010

Page 2: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

New RealitiesBarriers To AdoptionSocial Media PlanningBest In Class

2Thursday, October 28, 2010

Page 3: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Social Media - how people socialize or interact with each other, around a variety of shared interests, throughout the World Wide Web

3Thursday, October 28, 2010

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The landscape is changing

4Thursday, October 28, 2010

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5Thursday, October 28, 2010

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5Thursday, October 28, 2010

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A New Battle Ground

6Thursday, October 28, 2010

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7Thursday, October 28, 2010

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CONS

UMER

ABI

LITY

TO

PUB

LISH

7Thursday, October 28, 2010

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Being Social is Nothing New

8Thursday, October 28, 2010

Page 11: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

We’ve Been Looking for Connections for Years

9Thursday, October 28, 2010

Page 12: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Barriers To AdoptionWhy Your Executive May Hate Social Media

10Thursday, October 28, 2010

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Social Networking

11Thursday, October 28, 2010

Page 14: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Eagles Don’t Flock

12Thursday, October 28, 2010

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Geeks Baring Gifts

13Thursday, October 28, 2010

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Chaos

14Thursday, October 28, 2010

Page 17: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Fads

15Thursday, October 28, 2010

Page 18: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Social Media Planning

16Thursday, October 28, 2010

Page 19: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Choose Your Direction

17Thursday, October 28, 2010

Page 20: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

AwarenessConsideration

Relationships

Listening / Insights WOM Customer Service

PRSales/Retention

Branding

18Thursday, October 28, 2010

Page 21: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Listen To Your Consumers And Stakeholders

19Thursday, October 28, 2010

Page 22: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Don’t Be Overwhelmed

20Thursday, October 28, 2010

Page 23: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Pick Your Platforms

21Thursday, October 28, 2010

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Educate Your Stakeholders

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Page 25: AMA Toronto - Financial Services Presentation: Overcoming Obstacles to Social Media Marketing

Make It Contextually Relevant Water Cooler Coffee Break Cigarette Break

23Thursday, October 28, 2010

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Build a Data Centric Argument

1.14m users 35+

As many u18 users as 55+ Over 3m users aged 40-55

42% A40-55 read blogs(w/i prev 3 months)

4.6m CDNs aged 40+

40% of boomers members ofonline communities/forums

6.1MM avg Canadian monthly visitorsOver 25% are 40+ yrs

24Thursday, October 28, 2010

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Gain Alignment

25Thursday, October 28, 2010

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Set Your Targets

26Thursday, October 28, 2010

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Aim For Quick Wins

27Thursday, October 28, 2010

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Trumpet Your Success

28Thursday, October 28, 2010

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Best in Class

29Thursday, October 28, 2010

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Compare the Market

30Thursday, October 28, 2010

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Compare the Market

30Thursday, October 28, 2010

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Attract and Retain

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Attract and Retain

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Axion Banner Concerts

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Directions

33Thursday, October 28, 2010

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Corporate and Social Responsibility

34Thursday, October 28, 2010

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Product Development

35Thursday, October 28, 2010

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Product Development

35Thursday, October 28, 2010

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Mobile

36Thursday, October 28, 2010

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THANk YOU

[email protected]@edleeslideshare.net/edleelinkedin.com/in/edlee

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Resources

edlee.ca/ama-toronto

38Thursday, October 28, 2010

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QUESTIONS?

[email protected]@edleeslideshare.net/edleelinkedin.com/in/edlee

39Thursday, October 28, 2010