The New Role of Executives in the Financial Services Industry

#HootLinkAU

Digital Transformation

The new role of executives in the Financial Services Industry

#HootLinkAU Welcome

Ben Mulligan Regional Marketing

Leader

Hootsuite

WIFI

EST_ROOM_3

PASSCODE

merivale

#HootLinkAU Speakers

Mark Dick Director, LinkedIn Sales

Solutions

LinkedIn Australia

Amy McIlwain Global Industry

Principal, FSI

Hootsuite

Fady Daher VP, Global Commercial

Payments

American Express

#HootLinkAU

Digital Disruption and the Tipping Point

Mark Dick Director, LinkedIn Sales Solutions

The New Role of the Financial Services Executive

The Times They Are a-Changin’

“

Pre-Web Web 1.0 Web 2.0

The world of communication is changing rapidly


+450 The world’s largest

professional network

million members ANZ 8m+

APAC 100m+

The world’s largest professional network


2,300,000+

SENIOR/MANAGER

615,000+

DIRECTOR/VP

377,000+

OWNER/PARTNER

102,000+

C-LEVEL EXECS

Industry

170,000+ TECH

221,000+ FINANCE

86,000+ MEDICAL

127,000+ CUSTOMER GOODS

56,000+ CONSTRUCTION

Reaching senior decision makers



Social media has a purpose throughout each stage of the financial purchase journey

54%

47%

40%

29%

25%

Keep up-to-date with current financial trends

Gather preliminary information about financial products, policies or institutions

Seek advice/gather information to help make a financial decision

Re-evaluate a financial decision that has already been made

Recommend a financial product, policy or service

Source: Join The Dots Research, 2013

87.3%

79.1% 82.2% 83.3%

60.9%

50.0%

81.3%

58.1%

39.7%

Asia-Pacific (excl. Japan) Japan Rest of the World

Under 40

40-59

60+

HNWI expect future wealth management relationship to be digital

Capgemini, RBC wealth management and Scorpio Partnership Global Insights Survey 2014 The New Role of the Financial Services Executive

Sales Tactics to Win | Wednesday 28 September 2016

Companies leveraging LinkedIn platform



Acquire new clients

Regain trust

Lead with insight

Grow relationships

Enhancing customer service

Social is core to business strategy



Acquire new clients

Lead with insight

Sales Tactics to Win | Wednesday 28 September 2016 The New Role of the Financial Services Executive

Regain trust

Grow relationships


MARK WEINBERGER

EY GLOBAL CHAIRMAN

“At EY, we continually strive to build a

better working world by bringing our

clients the tools and services they

need in a rapidly changing business

environment. Data analytics and

technology have transformed the way

companies operate, and together, EY

and LinkedIn will provide

organizations with leading-edge tools

to navigate those changes”

JEFF WEINER

LINKEDIN CEO

“Together, we'll help

companies develop

deeper and more

trusted customer

relationships through

social and data

analytics”

REGINA SPRATT

SALES PARTNER

“Sales Navigator gives us

the ability to get access to

buyers who we couldn’t

previously reach, and in a

way that is more efficient

than simply cold-calling and

hoping for a response”

LinkedIn Partnerships



“The tipping point is that magic moment when an idea, trend, or

social behaviour crosses a threshold, tips, and spreads like wildfire.”

MALCOLM GLADWELL- THE TIPPING POINT

#HootLinkAU

The power of Social Executives in the Australian Financial Services Industry

Amy McIlwain Global Industry Principle, FSI, Hootsuite

Hootsuite in Financial Services

Enterprise Customers Finance, Insurance,

Banking

1,800+ Of the Fortune 1000

800+ 350+ 14M+ Users worldwide

Social Media is fundamentally changing the way we communicate.

4.3B

email accounts

5.4B social media accounts

Massive scale

Baby boomers

Millennials

2011 workforce tipping

point

2026 born in an era

of social

Driven by digital natives

2016

2005

Mobile

Australia’s appetite and adoption of new technologies.

Real-time access to information and services.

Institutions still bearing scars from the Global Financial Crisis.

Alternative banking solutions to address customer preferences.

Mobile Social Media Perception FinTech

Financial Services

“There is no truth. There is only perception.” – Gustave Flaubert

Australia’s finance industry is still bearing scars from the GFC when it

comes to the perception of institutions

Digital Perception Index

Sample: Hootsuite Digital Perception Index, Australian Financial Services Industry, 110 named organisation, May-September 2016. Total validated post volume 340,300. Captured using Hootsuite and partner solutions (Brandwatch).

+5.94% Australian Financial Service Industry Digital

Perception Index (DPI)

+100% -100%

Consumer & Commercial Banking

Investment & Wealth Management

Insurance

Superannuation

+6.46%

+3.97%

+6.56%

+12.55%



Insurance Superannuation

Sample: Hootsuite Digital Perception Index, Australian Financial Services Industry, 110 named organisation, May-September 2016. Institutions with +10 point lift above industry average or dominantly positive perception. Captured using Hootsuite and partner solutions (Brandwatch).

Perception Unicorns

What is the role of executives in social?

Provides a human face for their organisation

Inspire and engage

employees

Empower sales and drive business

outcomes

The Social Executive

Australian Social Executives

Alex Malley Chief Executive

CPA Australia

Cindy Hook CEO

Deloitte Australia

John Neal Group CEO

QBE

Social executives within the Australian financial services industry receive 6.5

times more engagement than their peers.

Australian FSI Executives on LinkedIn

4.7 times the profile

views

4 times more connections 4.2 times more endorsements

8.5 times the views on Long Form posts

10.8 times the

engagement on Long Form posts

7.4 times the shares on content published

14 times higher

engagement on content shared

Source: LinkedIn, Australian Financial Service Professionals of VP seniority and above, September 2016.

Social Executives have significant opportunity atop of their organisation. To passively leverage organisational resources once developed...

Social Maturity Model

Social Advocates

Social Teams

Social Organisation

Social Executives

...or proactively lead, engage and empower employees and sales teams from the top down.

Social Maturity Model

Social Advocates

Social Teams

Social Organisation

Social Executives

42% of the social media performance of staff in the Australian Financial Services Industry can be attributed to the behaviour and activities of

executives on LinkedIn

Source: Hootsuite & LinkedIn, Social Currency: How social executives are disrupting and capitalising on traditional financial institutions, October 2016.

42% of the social media performance of staff can be attributed to executive activity.

Sample: 4,762 Executives from 575 companies representing 67.57% of the total LinkedIn industry sample. Comprising of 359 institutions with 51-500 employees, 138 institutions with 501-10,000 employees, and 78 institutions with over 10,000 employees.

6.3 5 13.8 5.9 6.5 8.7

Profile Views Connections LFP Views LFP Engagement Content Shares Shares

Engagement


Executive Social Media Activity

Sta

ff S

ocia

l M

ed

ia P

erf

orm

an

ce

Small

Medium

Large

Org size

Sample: 923 Executives across 164 companies representing 19.27% of the total LinkedIn industry sample. Comprising of 81 institutions with 51-500 employees, 61 institutions with 501-10,000 employees, and 22 institutions with over 10,000 employees.

57% of the social media performance of staff in large Insurance companies can be attributed to executive activity.

5.4 54 10.9 5.6 5.5 7.3


Engagement

Insurance


Sta

ff S

ocia

l M

ed

ia P

erf

orm

an

ce

Small

Medium

Large

Org size

Sample: 268 Executives across 83 companies representing 9.8% of the total LinkedIn industry sample. Comprising of 52 institutions with 51-500 employees, 31 institutions with over 501 employees.


3.9 3.9 17.9 8.7 25 6.5


Engagement



Sta

ff S

ocia

l M

ed

ia P

erf

orm

an

ce

Small

Large

Org size

Sample: 226 Executives across 29 companies representing 3.4% of the total LinkedIn industry sample.


3.3 3.1 13.4 13.6 6.3 7


Engagement

Superannuation


Sta

ff S

ocia

l M

ed

ia P

erf

orm

an

ce

Small

Org size

Risk Time Transparency Amplification

of errors

Familiarity

Executive Challenges

#HootLinkAU

Fireside Chat

Disruption and the role of the Social Executive

#HootLinkAU

Fady Daher VP, Global Commercial

Payments

American Express

Amy McIlwain Global Industry

Principal, FSI

Hootsuite

Fireside Chat

#HootLinkAU

Fireside Chat

Q&A

The New Role of Executives in the Financial Services Industry

Sales

Transcript of The New Role of Executives in the Financial Services Industry