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