lee bryant - the right social media tools

Download Lee Bryant - The right Social Media tools

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Twitter, Facebook, Blogs, Social Networks – which tools should banks, insurances and other companies in the financial industry investigate. Also, costs and degrees of difficulty in adoption. Lee Bryant – CEO Headshift, part of Dachis Group

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  • Social Business Design: Building Better Finance Companies Lee Bryant, SOMESSO, Zrich 2009
  • www.headshift.com/projects [projects] About
  • TRADITIONALLY, FINANCE HAS BEEN BASED ON SOCIAL NETWORKS: THIS IS NOT NEW!
  • We are seeing growing adoption of social tools in nancial services
  • BANK BLOGS & SOCIAL MEDIA
  • ONLINE COMMUNITIES MOVING TOWARDS SOCIAL NETWORKS
  • MARKET INNOVATION & NEW PRODUCTS
  • SOCIAL NEWS SITES
  • SOCIAL NETWORKING & STOCK PICKING
  • The next stage is taking this inside the rm to create a next generation business operating system 2009 Dac
  • Social Business Design connections content collaboration culture [social business design]
  • 1. Workforce collaboration
  • SOCIAL NETWORKS AS ORGANISATIONAL (cc) http://www.ickr.com/photos/yuan2003/403643949/ IMMUNE SYSTEM
  • NETWORKED, NOT JUST INDIVIDUAL PRODUCTIVITY
  • CISCO Experience: What used to be "me" is now "we" The goal is to get more products to market faster ... Fifteen minutes and one week to get a [business] plan that used to take six months!"
  • INTERNAL SOCIAL TOOLS TYPICALLY INCLUDE: > Wikis > Social networks > Blogs and micro-blogging > Social bookmarking & tagging > RSS & data feeds
  • EXAMPLE PROJECTS: > Cross-functional collaboration for a major bank > Secure social networking with clients for a big 5 consultancy > Internal knowledge sharing for assurance company > Employee engagement for a major insurance group
  • 2. Customer participation
  • ANYBODY CAN FORM NETWORKS AND THE COST OF COLLECTIVE ACTION IS TRENDING TO ZERO
  • ATTENTION ECONOMY ? INTENTION ECONOMY ?
  • REAL-TIME SOCIAL NETWORKS AS INFORMATION FILTER & INFLUENCER
  • FUTURE CORPORATE BANKING: > personalised info services > conversational relationships > share expertise & knowledge > avoid commoditisation
  • FUTURE RETAIL BANKING: > brand communities > peer-to-peer help, self-service > user-generated information > better tools & tracker feeds > intention market for lower acquisition and transaction costs
  • (But start with the basics)
  • LISTEN
  • ENGAGE
  • '()*+))(,-. !"#$$%& !/#&/%& MEASURE 0%"12.,&(%-/%3 '()*+))(,- 41#$% 5#&&(,& 34
  • EVOLVE
  • SHIFT FROM DEMOGRAPHIC TARGETING TO SEGMENTATION BASED ON BEHAVIOUR
  • EXTERNAL SOCIAL TOOLS TYPICALLY INCLUDE: > Blogs and Twitter > Facebook, LinkedIn, MySpace (be present where your customers gather) > Social Media Monitoring tools > Social Network Analysis tools > Community Platforms
  • 3. Partnerships & service innovation
  • DATA SERVICES, APIs, & INTERFACES
  • SERVICE INNOVATION & THE ZAPPOS LESSON
  • NEW NETWORKED BUSINESS MODELS
  • NEW NETWORKED BUSINESS MODELS
  • ECOSYSTEM SOCIAL TOOLS TYPICALLY INCLUDE: > Data feeds & open APIs > Widgets and mini sites > Packaged content for others to use on their own sites > Partner / Developer Communities
  • EXAMPLE PROJECTS: > Multi-company social networking and knowledge sharing system for an equity investment house
  • Creating a social business program 2009 Dac
  • > Analyse business-level issues > Drill down to specific use cases > Create a program with clear success goals & evaluation metrics > Run projects and connect IT projects to achieve these goals
  • CONNECTIONS: > Internal networks > Connectedness > Partner ecosystem > Client relationships > Market presence
  • CULTURE: > Sharing behaviours > Social learning / training > Socialising product info > Collective intelligence > Employee engagement
  • COLLABORATION: > Sense making > Group forming > Client data flows > Market data flows > Community engagement
  • metafilter
  • CONTENT & FILTERS > Flow, feeds, ambient awareness > Clients get a window on the firm > Social CRM intention mining metafilter
  • Adoption challenges
  • FOCUS ON IN THE FLOW USE CASES, TACKLING PRACTICAL ISSUES
  • FOCUS ON OUTCOMES, NOT TOOLS
  • START WITH BEHAVIOURS PEOPLE KNOW, AND WORK FROM THERE
  • CONCLUSIONS: > Finance = data + networks > Threats posed by new trends are also opportunities for innovation > Information assymetries are falling away - compete in the open! > Intimate, social customer service is the best protection against price sensitivity and commoditisation
  • Thank you for listening Lee@headshift.com http://www.headshift.com
  • Thanks for listening! I am lee@headshift.com and I live at http://www.headshift.com Except where otherwise stated, photos courtesy of Flickr using Creative Commons license. Thanks to the following photographers: http://www.brockcraft.com/wp-content/uploads/2008/11/bailout-graphic001.png http://images.google.com/imgres?imgurl=http://thesituationist.files.wordpress.com/2008/02/ trading-floor.jpg&imgrefurl=http://thesituationist.wordpress.com/2008/02/08/ &usg=__aSMG_vYDG- ve4VoLGPbQ5RygVA4=&h=955&w=1417&sz=327&hl=en&start=6&um=1&tbnid=LWmhX9Z p1dOOjM:&tbnh=101&tbnw=150&prev=/images%3Fq%3Dtraditional%2Btrading%2Bnetworks %26imgsz%3Dxxlarge%26um%3D1%26hl%3Den%26client%3Dsafari%26rls%3Den-us%26sa %3DN http://www.carbodydesign.com/archive/2008/05/15-virtual-painting-at-ford/1914-Ford- Model-T-Painting-lg.jpg http://www.touchgraph.com http://www.flickr.com/photos/paul_irish/2379958609/sizes/l/ http://www.flickr.com/photos/poorfish/2402437518/ http://www.flickr.com/photos/brianboulos/36957265/ http://www.flickr.com/photos/7855449@N02/sets/72157606844282993/ http://www.flickr.com/photos/dplanet/94442623/ http://www.flickr.com/photos/joeshlabotnik/305410323/ Kate Niederhoffer & Marc A. Smith (Web 2.0 presentation 4/1/09) http://www.informationisbeautiful.net/visualizations/the-hierarchy-of-digital-distractions/ http://www.flickr.com/photos/thedalogs/3184387156/