Social media and mutuals banks credit unions

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Social Media Social Networks laurelpapworth.com Social Media and Banking/Credit Unions Laurel Papworth, Abacus Cairns, Oct 2011 1 Monday, 7 November 2011

Transcript of Social media and mutuals banks credit unions

Social Media Social Networks

laurelpapworth.com

Social Media and Banking/Credit Unions

Laurel Papworth, Abacus Cairns, Oct 2011

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ConnectNow CNow

wordle.net

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http://laurelpapworth.com/monetizing-online-communities/

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ConnectNow CNow

wordle.net

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Social Media #Fail

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Loyalty ROI: visit a site 9x more stay 5x as long (Source: McKinsey)

Brand ROI: 4x un-aided brand recall (Source: NFO)Acquisition ROI: $0-10 vs. $10-$400 per customer

acquisition Support ROI: 5x-10x more cost effective than

phone supportMeet Offline (Center for Digital Futures) One fifth

(20.3%) meet at least once a year

Return On Investment

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$$$ value of a TwitterTweet or Facebook Share

Chompon: Facebook Share $14 Facebook Like $8 Twitter Tweet $5 Twitter Follower $2

Eventbrite: Facebook Share: $2.52, Tweet 43c, LinkedIn: 90c email: $2.34 ($1.78 average)

Just Giving: Facebook Share (6 needed per donation) $8 per like.

More here http://laurelpapworth.com/what-is-the-value-of-a-tweet-or-facebook-fan/

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Within Enterprise

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4.6 Billion Market Cap

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4.6 Billion Market Cap

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Soc Med Monitoring

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Videos on YouTube

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Daily Deals

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Campaigns

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Campaigns

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Collaboration

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Companies like Google and PayPal are competing with banks through new and cheaper technology. Similarly,

BankSimple in the US and the mooted arrival of Movenbank, a paperless, cardless, fee-free bank, are utilising

social media such as Facebook to challenge traditional banks.

MIKE HIRST: Bendigo Bank 24 Oct 2011

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Facebook Economy

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Facebook Economy

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Facebook & P2P banks

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Facebook & P2P banks

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Social Insurance - Health

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Negative Criticism in Social Networks

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Thank goodness for negative criticism in social media.

If you know the problem, you can educate with an answer.

If you didn't, well, now you do!Laurel Papworth 2011

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SouthWest Airlines

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Cost of Inaction

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Your Community is Calling You

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.... are you listening?

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.... are you listening?

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Laurel Papworth

•slides at http://slideshare.net/silkcharm•blog at http://laurelpapworth.com •email [email protected]•phone +61 (0)432 684992•Twitter @SilkCharm•iTunes Social Media Business podcast

reference

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