Post on 18-Jan-2015
description
Jennifer Grazel
Trends in Finance &Social for 2014
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Authenticity ● Relevancy ● Dialogue
TRUST
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InsightsInformation
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RELEVANT CONTENT BUILDS
THE BRIDGE TO MEANINGFUL RELATIONSHIPS
The role of social media in driving SME growth
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This report explores the way in which SMEs in India make use of social media.
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SMEs surveyed across India168INFLUENCE
Primary decision maker or strong level of influence in financial
decisions
SMALL/MEDIUM1 to 1000 employees
INR 5 to 500 crore revenue
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SMEs in India are currently experiencing widespread growth…
Have experienced an increase in total revenue over the past year
Have experienced an increase in customer/client numbers over the past year
Have experienced an increase in overall
profitability over the past year
79%
73%67%
Base: 168 small and medium businesses
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67%Of SMEs have been using social media 1+ years
33%Recently started or plan to
use in the future
India SMEs are experienced social media users
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Base: 168 SMEs
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The #1 challenge facing SMEs in today’s market is attracting new customers
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72%say attracting new customers is a challenge their company
will face in the next 12 months
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4 in 10 business experiencing growth directly attribute revenue to social media spend.
% reporting each contributed to revenue growth
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SOCIAL MEDIA
39%
Base: 133 small and medium enterprises experiencing revenue growth
EMAILMARKETING
46%EVENTS
38%
Social media is highly influential when choosing a financial services provider
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The vast majority use social media for financial purposes…
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Top 5 uses of social media for financial purposes
Keep up-to-date on financial trends
01 60%
02 Gather preliminary financial information
39%
03 Seek advice on a financial decision
34%
04 Evaluate or re-think a previous financial decision
23%
05 Recommend a financial product to others
21%
Base: 168 small and medium businesses
have used social media for finance-related reasons80%
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…with more than six in 10 respondents suggesting they are open to receiving financial information from LinkedIn
Openness to receiving financial content and information on social media sites
Base: 168 small and medium businesses
29% 12%33%33%62%
of growth businesses are receptive to receiving financial content on LinkedIn
67%
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This allows LinkedIn to drive action through the content provided to businesses...
Base: 168 small and medium businesses
Learned of a new financial company
Shared information about financial trends, products or
companies
Asked a financial representative for additional information
Discussed a financial product with a friend or colleague
Learned of a new financial product/policy
Conducted additional research on a financial product
24% 31% 25%
22% 27% 29%
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Of the 2/3 of SMEs who actioned a response, 1/3 were driven to purchase.
Path to Purchase
Base: 143 LinkedIn users
DISCOVERYGather info / stay up-
to-date
CONSIDERATIONSeek advice/info to make
a purchase
DRIVEN TO PURCHASE ON LINKEDIN
(Insurance policy and/or investment product)
34%
The Mass Affluent & Social Media
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Nearly two in five Mass Affluent use social for financial education or research
GLOBAL
of all Mass Affluent use social for discovery or consideration of financial companies, products or services
36% DISCOVERY BOTH CONSIDERATION
10%
7% 20%
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Engagement with financial companies is considerably higher among Mass Affluent in earlier life stages
BASE SIZE: Social media users / * Caution Small Base Size India
% Engaged with Financial Companies (by Life Stage)
Soon to retire/ Retired*74%Accumulating
Wealth94%
of Mass Affluent social media users are engaging with financial institutions
90%
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Approximately 80% of Mass Affluent social users read content, review multimedia, and follow financial companies
83% 81% 77%
FOLLOW OR LIKEfinancial companies on
social media
REVIEW MULTIMEDIA CONTENTfrom financial companies
on social media
READ CONTENTfrom financial companies
on social media
BASE SIZE: Social media users / India
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Info learned on social about a financial company, product, or account most likely comes from social connections or ads
What was the specific source of the financial information you learned via social media?
India
FINANCIAL COMPANY OR INSTITUTION
FINANCIAL PRODUCT, POLICY OR ACCOUNT
40%
60%
62%
66%
34%
57%
75%
68%A member of my social network
An advertisement
Company sponsored content/updates
An industry expert/executive
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At least one in five considers increased transparency a valuable result from a company’s social presence
What was the specific source of the financial information you learned via social media?
BASE SIZE: Social media users / India
ACTIVITIES BANK LIFE INSURANCE CO. CREDIT CARD CO.
Improved customer service 17% 26% 35%
Greater transparency of information 20% 23% 20%
Timely updates 18% 15% 9%
More personalized experience 15% 12% 12%
VALUE - +
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With a social presence come expectations for information and account communications from financial companies
Information wanted via financial companies on social media:
BASE SIZE: Social media users / India
ACTIVITIES BANK LIFE INSURANCE CO. CREDIT CARD CO.
New product or services information 73% 67% 71%
Updates on account or policy changes 67% 68% 62%
General company information 58% 55% 46%
Posts from an industry expert/executive 50% 52% 45%
Market and economic commentary 52% 45% 48%
VALUE - +
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But, many Mass Affluent aren’t getting the information they want from financial companies on social media
Information wanted vs. received via financial companies on social media:
BASE SIZE: Social media users / India
ACTIVITIES GAP BANK LIFE INSURANCE CO. CREDIT CARD CO.
New product or services information
Updates on account or policy changes
General company information
Posts from an industry expert/executive
Market and economic commentary
-30
-27
-23
-20
-15
-21
-27
0
-21
-17
-18
-18
-9
-9
-11
-30
-27
-23
-20
-15
-21
-27
0
-21
-17
-18
-18
-9
-9
-11
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Client Case Studies
25
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American Express integrated approach in LI ecosystem fuels customer journey
BUILDING BRANDADVOCACY
POWERING USER EXPERIENCE
DRIVING NEW MEMBERSAND CARD ACQUISITIONS
©2013 LinkedIn Corporation. All Rights Reserved.
CITI
29
200+ years of heritage…
Individuals Businesses Institutions & Governments
ENABLING & CATALYST OF
PROGRESS
30
ProgressContent Schema Mapped to Global Events
Environment
Financial Literacy
Community
Urbanization
Emerging Markets
WOMEN
1. THOUGHT LEADERSHIP FROM CITI EXPERTS
2. CITI CONTENT
3. 3RD PARTY CONTENT
CORE CONTENT SOURCES
ORGANIC UPDATE TO FOLLOWERS
SPONSORED UPDATE
INFLUENCER POST
Interweaving Progress on LI
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Citi’s Ecosystem on LinkedInFrom networking, to news, communities, thought leaders & brands
Over 1.5M Touch PointsHomepage Company Page
568KSponsored
Updates
Group
310KPulse
568K Influencer
42K
TOTAL
Citi | Outcomes: Return on Reach
33
PAID 233% RETURN
IMPRESSIONS
HSBC
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Key Tenets to building a relationship with Content Marketing
Don’t Just Sell, Add Value
Ask Them What They Want to Hear
Be Human
Tap Into the Power of Story
Empower Employees to Contribute Content
Compel Your Customers to Spread the Word
Thank You