using linkedin to increase bank sales

© 2011 LinkedIn. All rights reserved. Confidential 1

Using LinkedIn to

live

workcontribute

…and increase bank sales

• Jennifer Grazel, LinkedIn• Mark Zmarzly, ACTON Marketing


Overview of how marketing has changed Insight into how LinkedIn is designed to help you:

Find leads and decrease cold-calling Generate more business opportunities Discover how people are connected Engage your existing clients Position yourself as an expert and thought leader

Ideas to engage your community and own a niche

Agenda


Focus your content to future customers, not your peers.

Our goal is to help you get found and generate sales, BUT, social media is about providing value and building community…sales is just the natural by product.

Compliance still governs so check internally for policies on content, tracking of communications, etc.

Keep in mind as we go…

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Marketing Has Fundamentally Changed

Marketers controlled: the message, medium and brand

Consumers are informed and in control

RESULT: New Musts: Transparency, Authenticity, Collaboration

“ You (can no longer) buy attention, you have to earn it”David Jones, Euro RSCG


This Change Applies to Banking, too!

Marketers controlled Consumers in control


1. Discovery of Information

Dramatic Shift in Marketing Ecosystem

Shift of how we find, consume and interact with information


2. Sources of Influence

Dramatic Shift in Marketing Ecosystem

Source: Forrester’s North American Technographics Interactive Marketing Online Benchmark Recontact Survey, Q2 2010 (US),


High Net Worth Investors are Engaging on Social Platforms

63% of HNW individuals use social media for personal finance and investing and said that usage influenced their investment purchasing behavior

Corporate Executive Board, VIP Forum

According to Third Party research:• Spectrum: 19% of millionaires are on LinkedIn ($5-25M)• SEI: 24.5% ($5M +)

How many of HNW are on LI?


Small Business Owners are also Using Social Media Platforms

Millions of small business owners are leveraging the power of sites like Facebook and LinkedIn.

http://mashable.com/2010/03/02/small-business-stats/

http://mashable.com/2010/03/02/small-business-stats/


120+ million potential customers today and 4+ million more every month

#29 largest site


Demographics

Average Age 44

Average HHI $105,731

HHI>$150K 22%

College Grad 76%

2.2M Small Business Owners

7M Senior Executives

400K Doctors

CXO at every F500 company

Other Facts

# of Company Profiles > 2M

# of People Searches (2010)

> 2B

# of Pageviews / month 1.3B+

Fortune 100 Customers > 65%

# of Groups > 900K

# of Members in Groups 13M+

LinkedIn: Global Internet Business Platform

Data from Q4 2010


What are Professionals Doing on LinkedIn?


What are Bankers/Advisors Doing on LinkedIn?


Have foundational elements in place before tapping into Social Media

•Identify your value proposition that differentiates your practice

1

•Develop your marketing plan

2

•Develop your website as a key component of your communication platform

3The future of the financial services business will belong to those who can lead, teach, and inspire through their authentic voices and develop deep social “chemistry” with their communities. Stephanie Simmons


Leveraging LinkedIn to achieve your key goals

• Be visible• Connect• Prospect

• Collaborate• Cascade

Business Development

Client Engagement


Be Visible = Robust ProfileSummary Descriptive overview

(keywords)



Be Visible = Robust Profile++ Searchable/Visible Summary

Strong overview (keywords)

Personal blogs

Share worthy Content via WordPress, Slideshare



Powerful Business Development Tools Searching for professionals

a. Faceted Search

Search and prioritize by degrees of connection using:- Keywords- companies- titles (doctors, lawyers, cxo),- individual

b. Groups

2nd degree



Prospecting

Once you identified prospects through:a. Faceted Searchb. 2nd degree

connectionsc. Groups

Requesting / facilitating introductions

Making contact via InMailTM

Step 1 Step 2

Leverage LinkedIn profile to research individuals:a. Professional

backgroundb. Skills, Hobbies,

Assocc. Groupsd. Articles shared

Step 3



Enhancing Client Relationships Client Engagement

Step 1 Step 2 Step 3

• Invite clients to connect on LinkedIn

• Ensure account settings are set to your liking

• Organize and track your connections through Profile organizer

• Set up RSS feeds. Leverage LinkedIn Today and Signal as source of insights

• Develop content strategy & calendar

• Decide on frequency and your rules of engagement

• Distribute content via preferred tools

• Listen to any reactions

• Vary content formats (video, podcasts, polls)

• Be relevant and establish your personal voice

• Track and interact with your connections


LinkedIn is Designed to Assist Your Goals Banker Goals LinkedIn FeaturesConnect: Expand my network to maximize my use

• Faceted Search Amplifying Potential Connections• Inmail • Requests for Introductions

Be Visible: Be present where my customers are and easily searchable (SEM impact)

• Visible Profile• Company Page

Collaborate: Tap into & leverage colleagues and SMEs knowledge/POV on key topics

• Groups• LinkedIn Today• LinkedIn Signal

Prospect: Facilitate discovery of new referral sources

• Referral from 1st Degree Connections• Inmail• Faceted Search• Direct Ads

Support: Leverage LI as an additional communication tool in supporting clients

• Inmail• Status Updates• Content Modules

Cascade: Distribute Company and individual Thought leadership

• Profile Updates• Company Pages• Content Modules


Some Step by Step Ideas

1. Complete Your Profile

Remember: make it about your prospects, not just about you!


2. Build Your Network

Cardinal Rule: Give to Get!


and Get Recommended


3. Engage Your Network



3. Decide on a Niche & Build Your Brand



Business Banking Advisor Financial Advisor Community Banker Mortgages & HELOC Small Business Lending Business Finance Specialist Chicago’s Business Banker Small Business Banker Family Financial Planner Small Business Solution Provider

What niche (and search terms) do you want to own?

Think locally and nationally Own it personally

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4. Engage Your Community and Be a Resource



The End Goal

Be Seen

Be Resourceful

Be MultidimensionalBe Engaging

Be Hired


Social media is about connecting…not about you Your end goal has to be bigger than just branding,

visibility, sales, etc.…add value to your community There are lots of resources available to you online

and in the appendix• Thank you for your time!

Let’s connect: www.linkedin.com/in/markzmarzly Or @BankMarketing

www.linkedin.com/in/jennifergrazel Or @jgrazel

Final Thoughts & Questions

http://www.linkedin.com/in/markzmarzly

http://twitter.com/#!/bankmarketing

http://www.linkedin.com/in/jennifergrazel

http://twitter.com/#!/jgrazel

using linkedin to increase bank sales

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