Lee Bryant - The right Social Media tools

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Post on 17-Aug-2014



Economy & Finance

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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


<ul><li> Social Business Design: Building Better Finance Companies Lee Bryant, SOMESSO, Zrich 2009 </li> <li> www.headshift.com/projects [projects] About </li> <li> TRADITIONALLY, FINANCE HAS BEEN BASED ON SOCIAL NETWORKS: THIS IS NOT NEW! </li> <li> We are seeing growing adoption of social tools in nancial services </li> <li> BANK BLOGS &amp; SOCIAL MEDIA </li> <li> ONLINE COMMUNITIES MOVING TOWARDS SOCIAL NETWORKS </li> <li> MARKET INNOVATION &amp; NEW PRODUCTS </li> <li> SOCIAL NEWS SITES </li> <li> SOCIAL NETWORKING &amp; STOCK PICKING </li> <li> The next stage is taking this inside the rm to create a next generation business operating system 2009 Dac </li> <li> Social Business Design connections content collaboration culture [social business design] </li> <li> 1. Workforce collaboration </li> <li> SOCIAL NETWORKS AS ORGANISATIONAL (cc) http://www.ickr.com/photos/yuan2003/403643949/ IMMUNE SYSTEM </li> <li> NETWORKED, NOT JUST INDIVIDUAL PRODUCTIVITY </li> <li> 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!" </li> <li> INTERNAL SOCIAL TOOLS TYPICALLY INCLUDE: &gt; Wikis &gt; Social networks &gt; Blogs and micro-blogging &gt; Social bookmarking &amp; tagging &gt; RSS &amp; data feeds </li> <li> EXAMPLE PROJECTS: &gt; Cross-functional collaboration for a major bank &gt; Secure social networking with clients for a big 5 consultancy &gt; Internal knowledge sharing for assurance company &gt; Employee engagement for a major insurance group </li> <li> 2. Customer participation </li> <li> ANYBODY CAN FORM NETWORKS AND THE COST OF COLLECTIVE ACTION IS TRENDING TO ZERO </li> <li> ATTENTION ECONOMY ? INTENTION ECONOMY ? </li> <li> REAL-TIME SOCIAL NETWORKS AS INFORMATION FILTER &amp; INFLUENCER </li> <li> FUTURE CORPORATE BANKING: &gt; personalised info services &gt; conversational relationships &gt; share expertise &amp; knowledge &gt; avoid commoditisation </li> <li> FUTURE RETAIL BANKING: &gt; brand communities &gt; peer-to-peer help, self-service &gt; user-generated information &gt; better tools &amp; tracker feeds &gt; intention market for lower acquisition and transaction costs </li> <li> (But start with the basics) </li> <li> LISTEN </li> <li> ENGAGE </li> <li> '()*+))(,-. !"#$$%&amp; !/#&amp;/%&amp; MEASURE 0%"12.,&amp;(%-/%3 '()*+))(,- 41#$% 5#&amp;&amp;(,&amp; 34 </li> <li> EVOLVE </li> <li> SHIFT FROM DEMOGRAPHIC TARGETING TO SEGMENTATION BASED ON BEHAVIOUR </li> <li> EXTERNAL SOCIAL TOOLS TYPICALLY INCLUDE: &gt; Blogs and Twitter &gt; Facebook, LinkedIn, MySpace (be present where your customers gather) &gt; Social Media Monitoring tools &gt; Social Network Analysis tools &gt; Community Platforms </li> <li> 3. Partnerships &amp; service innovation </li> <li> DATA SERVICES, APIs, &amp; INTERFACES </li> <li> SERVICE INNOVATION &amp; THE ZAPPOS LESSON </li> <li> NEW NETWORKED BUSINESS MODELS </li> <li> NEW NETWORKED BUSINESS MODELS </li> <li> ECOSYSTEM SOCIAL TOOLS TYPICALLY INCLUDE: &gt; Data feeds &amp; open APIs &gt; Widgets and mini sites &gt; Packaged content for others to use on their own sites &gt; Partner / Developer Communities </li> <li> EXAMPLE PROJECTS: &gt; Multi-company social networking and knowledge sharing system for an equity investment house </li> <li> Creating a social business program 2009 Dac </li> <li> &gt; Analyse business-level issues &gt; Drill down to specific use cases &gt; Create a program with clear success goals &amp; evaluation metrics &gt; Run projects and connect IT projects to achieve these goals </li> <li> CONNECTIONS: &gt; Internal networks &gt; Connectedness &gt; Partner ecosystem &gt; Client relationships &gt; Market presence </li> <li> CULTURE: &gt; Sharing behaviours &gt; Social learning / training &gt; Socialising product info &gt; Collective intelligence &gt; Employee engagement </li> <li> COLLABORATION: &gt; Sense making &gt; Group forming &gt; Client data flows &gt; Market data flows &gt; Community engagement </li> <li> metafilter </li> <li> CONTENT &amp; FILTERS &gt; Flow, feeds, ambient awareness &gt; Clients get a window on the firm &gt; Social CRM intention mining metafilter </li> <li> Adoption challenges </li> <li> FOCUS ON IN THE FLOW USE CASES, TACKLING PRACTICAL ISSUES </li> <li> FOCUS ON OUTCOMES, NOT TOOLS </li> <li> START WITH BEHAVIOURS PEOPLE KNOW, AND WORK FROM THERE </li> <li> CONCLUSIONS: &gt; Finance = data + networks &gt; Threats posed by new trends are also opportunities for innovation &gt; Information assymetries are falling away - compete in the open! &gt; Intimate, social customer service is the best protection against price sensitivity and commoditisation </li> <li> Thank you for listening Lee@headshift.com http://www.headshift.com </li> <li> 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&amp;imgrefurl=http://thesituationist.wordpress.com/2008/02/08/ &amp;usg=__aSMG_vYDG- ve4VoLGPbQ5RygVA4=&amp;h=955&amp;w=1417&amp;sz=327&amp;hl=en&amp;start=6&amp;um=1&amp;tbnid=LWmhX9Z p1dOOjM:&amp;tbnh=101&amp;tbnw=150&amp;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 &amp; 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/ </li> </ul>