harnessing the power of social media as a new source of data sept 2011
TRANSCRIPT
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Future of Banking & Financial ServicesHarnessing the Power of Social Media
Peter Fletcher-DobsonHead of Online Channels
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Who uses social media?
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@kiwibankNZ
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facebook.com/kiwibankNZ
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You Tube
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You Tube
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http://twitter.com/#!/telecomnz
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http://twitter.com/#!/telecomnz
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http://twitter.com/#!/telecomnz
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http://twitter.com/#!/telecomnz
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http://twitter.com/#!/telecomnz
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http://twitter.com/#!/telecomnz
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http://twitter.com/#!/telecomnz
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http://twitter.com/#!/telecomnz
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Why are we #here?
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Big Data Opportunity
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Customer service
Sales & Marketing
Brand support
Sentiment
Social Media focus today
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@Some stories…
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#Doubledown#doubledown tag in NZ just behind #childhoodmemories and #lieswetell
3,000 Facebook likes
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• 34,000 double downs sold on day 1
• Sales 500% more than expected in week 1
• Restaurant Brands shares up 4c at $2.48
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Nestle
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@Squeamish?
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Nestle
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Nestle
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Nestle: Share of mentions
Forums: 28,105 (27%)
Blogs: 57,469 (54%)
News: 20,480 (19%)
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“What we take out of this is that you have to engage.”
Nestle spokeswoman Nina Backes
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Westpac
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“@westpac: Maybe you can go dive in a swimming pool full of my money to make you feel better.”
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“@westpac: Nice to know you’re human :).”
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Kiwibank
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Contrary to popular belief – the world does not revolved around you.
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Bond Girl
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Sentiment
Brand support
Sales & Marketing
Customer service
Sales & Marketing Customer
serviceBrand
support
Sentiment
Evolution of SM strategy
Current Future
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How can we understand when...
80% is just noise80% is just noise
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Radical solutions required
Big data
2002
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Some numbers
50,000,000,000,000,000,000
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Some numbers
5018
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Some numbers
50 Quintillion
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Some numbers
5018 X 2
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Prosumer power
Every minute: 48 hours of video are uploaded to YouTube
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Prosumer power
Every hour: 10.5 million songs illegally downloaded
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Prosumer power
200 million tweets a day
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Prosumer power
2,300 new Wikipedia articles created daily
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Prosumer power
750m active users
250m active mobile users
Mobile users 2X as active
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# !?@ :(
“Complaints channel”
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www.estebankolsky.com/
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“Less than 4% of complaints resolved
via Twitter.”
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ROI of social media
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Lessons
Maxims – Personal Markets
Shareholder value is only created by delivering
customer value via an engaged and capable
workforce
Leadership
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(IT strategy)Transactional info
Payments/transfers
PFM
Secure comms (CRM/ORM)
(Marketing strategy)Website marketing
Social Media
Information
FAQs/Chat
SECURE AREA OPEN ACCESS AREA
Sales channel
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Identity
Identity
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Identity 1.0
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Identity 2.0
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Rise of mobile – Meeker slide
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Rise of mobile – Meeker slide
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Rise of mobile – Meeker slide
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Rise of mobile – Meeker slide
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Sentiment
Brand support
Sales & Marketing
Customer service
Sales & Marketing Customer
serviceBrand
support
Sentiment
Evolution of SM strategy
Current Future
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Identity
Identity
Personal Markets in 2012: Marketing
We have a sophisticated approach to
segmentation which drives our sales and
marketing strategies.
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Identity
Identity
Personal Markets in 2012: Marketing
We have a sophisticated approach to
segmentation which drives our sales and
marketing strategies. Filter the noise
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Identity
Identity
Personal Markets in 2012: Marketing
We have a sophisticated approach to
segmentation which drives our sales and
marketing strategies. Filter the noise
Smarter tools
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Identity
Identity
Personal Markets in 2012: Marketing
We have a sophisticated approach to
segmentation which drives our sales and
marketing strategies. Filter the noise
Smarter tools
Knowledge management & analytics
Customer-centric authentication
Unlock mobile potential
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Identity
Identity
Personal Markets in 2012: Marketing
We have a sophisticated approach to
segmentation which drives our sales and
marketing strategies. Filter the noise
Smarter tools
Knowledge management & analytics
Customer-centric authentication
Unlock mobile potential
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Thank you