1.The numbers reveal: Is Social Media another fad or is it here to stay? Dr. Benedikt Khler, Munich Dr. Benedikt Khler, Munich SOMESSO Conference, Zurich 3 November 2009

2. Yet another fad?SOMESSO Conference,Zurich 3 November 2009 3. Or here to stay?SOMESSO Conference,Zurich 3 November 2009 4. What is Social Media? A variety of digital media and technologies that enable users to exchange among themselves and create media content, individually or in community. 1. Presentation of self in every dayonline life 2. Exchange of information, opinions,experiences or emotions in real-time 3. Collaboration and creation of content SOMESSO Conference, Zurich 3 November 2009 5. Communication and banking via Social Media?SOMESSO Conference,Zurich 3 November 2009 6. Communication and banking via Social Media?SOMESSO Conference,Zurich 3 November 2009 7. Communication and banking via Social Media?SOMESSO Conference,Zurich 3 November 2009 8. Banks used to be like this: Big is beautifulSOMESSO Conference,Zurich 3 November 2009 9. Banks used to be like this: Walls & FortressesSOMESSO Conference,Zurich 3 November 2009 10. Banks used to be like this: Fake conversationsSOMESSO Conference,Zurich 3 November 2009 11. Banks used to be like this: Complex products SOMESSO Conference, Zurich 3 November 2009 12. Banks used to be like this: Talk = SalesSOMESSO Conference,Zurich 3 November 2009 13. Banks used to be like this: Behind countersSOMESSO Conference,Zurich 3 November 2009 14. Social Media is going to change this! Social Media means: The whole Internet is becoming social Living an online life Feedback Dialogue Social Media as a disruptive technologySOMESSO Conference,Zurich 3 November 2009 15. The future of Social Media19902004 was the match being struck; 20052009 was the fuse; and 2010 will be the explosion.(Tim OReilly and John Battelle)SOMESSO Conference,Zurich 3 November 2009 16. Its getting bigger25% of search results for the worlds top 20 largest brands are links to user- generated content. 13 hours of video are uploaded on YouTube every minute. Dell claims to have earned $ 3.000.000 via Twitter-Posts since 2007. If Facebook were a country, it would be the 4th largest in the world with 250 Mio users. 34% of bloggers post opinions about products and brands in over 200.000.000 blogs. SOMESSO Conference,Zurich 3 November 2009 17. Internet growing as fast as TV didSOMESSO Conference,Zurich 3 November 2009 18. Social Media importance for companiesFar-reaching implications: Providing the information the customersexpect on social media right now! Possibility of a strong customer bondingcausing loyalty. Combination of marketing, CRM and PRin one unit, acting simultaneously. Genuine dialogue between companies,customers and other stakeholders - in real-time.SOMESSO Conference,Zurich 3 November 2009 19. Users are looking for product information SOMESSO Conference, Zurich 3 November 2009 20. 5 Dimensions of Corporate Social MediaSocial Media Newsroom Branded Channel Brand MonitoringCorporate BlogCorporation2.0Real-Time Support Trainee Blog SOMESSO Conference, Zurich 3 November 2009 21. Social Media - challenges for financeIn the U.S. the trust in banks decreased from 69% to 36% 72% share their dislikes with a friend or colleague. (Edelman Trust Barometer 2009)SOMESSO Conference,Zurich 3 November 2009 22. People dont trust bankers SOMESSO Conference, Zurich 3 November 2009 23. People trust their peers online!SOMESSO Conference,Zurich 3 November 2009 24. Consumers 2.0 Sapere aude Banks sell whats most profitable for them Really gooddeals can only be found on the web Im doing researchmyself and this way I get a truly independent offering.SOMESSO Conference,Zurich 3 November 2009 25. Finance between tourism and fashion SOMESSO Conference, Zurich 3 November 2009 26. Sparkasse with largest buzz in Social Media SOMESSO Conference, Zurich 3 November 2009 27. Word of mouth can be positive Friendliness Good Service Security Good Interest Rates SOMESSO Conference, Zurich 3 November 2009 28. or negativeFailure Technical System ErrorNo Money Transfer DisguiseMysterious Not Executed SOMESSO Conference, Zurich 3 November 2009 29. or interesting SOMESSO Conference, Zurich 3 November 2009 30. New Conversational Landscape: HomepagesSOMESSO Conference,Zurich 3 November 2009 31. New Conversational Landscape: General Interest SOMESSO Conference, Zurich 3 November 2009 32. New Conversational Landscape: Special Interest SOMESSO Conference, Zurich 3 November 2009 33. From Mass society to Individualization SOMESSO Conference, Zurich 3 November 2009 34. 2 out of 3 German onliners use Social Media SOMESSO Conference, Zurich 3 November 2009 35. More than 90% of teenagers use Social Media SOMESSO Conference, Zurich 3 November 2009 36. Strongest growth in generation 60+ SOMESSO Conference, Zurich 3 November 2009 37. Social Networking more popular than Email SOMESSO Conference, Zurich 3 November 2009 38. Online is a primetime medium today! SOMESSO Conference, Zurich 3 November 2009 39. 16% of banks are active in Social Media SOMESSO Conference, Zurich 3 November 2009 40. whatever active meansSOMESSO Conference,Zurich 3 November 2009 41. Aprs moi, le dluge SOMESSO Conference, Zurich 3 November 2009 42. What are the caveats?58% are nervous about potential compliance problems. 45% dont understand social media marketing. 37% think it doesnt fit to their customers. And four out of ten participating banks avoid discussing specific products and services in their social media efforts.SOMESSO Conference, Zurich 3 November 2009 43. Wishes and needs of digital natives 48% of Facebook users between the ages of 18-34 would use secure gadgets if their bank offered it. 33% of 25-34 year old Facebook users would even consider switching to another bank that offered Web 2.0 gadgets for online banking. (WorkLight Survey) 37% of U.S. customers liked to have testimonials and customer reviews on their banks website (Forrester)SOMESSO Conference,Zurich 3 November 2009 44. Social Media means a shift from Brands SOMESSO Conference, Zurich 3 November 2009 45. to faces SOMESSO Conference,Zurich 3 November 2009 46. and stories!SOMESSO Conference,Zurich 3 November 2009 47. Finance in Social Media ExamplesMint has over 20.000 Followers on Twitter and is in dialogue with them by following back and answering to questions. SOMESSO Conference, Zurich 3 November 2009 48. Finance in Social Media Examples Missouri Bank provides a Facebook-Fanpage SOMESSO Conference, Zurich 3 November 2009 49. Finance in Social Media Examples Wells Fargo is hosting different blogs And evenSOMESSO Conference,Zurich 3 November 2009 50. Finance in Social Media Examples their own virtual world:Stagecoach Island where you can learn how to use your money wiselySOMESSO Conference,Zurich 3 November 2009 51. Finance in Social Media ExamplesSocial Media users elude banks and begin to lend money to each other directly. SOMESSO Conference, Zurich 3 November 2009 52. Social Media is not for everyoneSOMESSO Conference,Zurich 3 November 2009 53. Next Steps Charting your companys Social MediaLandscape with a full survey of allchannels and platforms Developing a strategic view of yourcompanys dialogical future (includingSocial Media Guidelines or Policies) Beginning to grasp the disruptive powerof Social Media Brand Building giving the users a chance to live yourbrand online Building strong and sustainable userexperiences in Social Media Experimenting with Social Mediayourself by hosting Immersion Days atyour companySOMESSO Conference,Zurich 3 November 2009 54. Thank you very much! Questions? More information: http://www.ethority.deSOMESSO Conference,Zurich 3 November 2009 55. Questions?Feel free to contact us!ethority GmbH & Co. KGBschstr. 7 (Ecke Gnsemarkt)For further information visit us:20354 Hamburg http://www.ethority.de/weblog http://www.twitter.com/ethority+49 (0) 40 - 300 699 80 contact@ethority.de http://www.facebook.com/ethoritywww.ethority.de http://www.youtube.com/ethoritySOMESSO Conference, Zurich 3 November 2009 56. Pictures 2. http://www.flickr.com/photos/snapeverything/2634024846/ 3. http://upload.wikimedia.org/wikipedia/commons/1/16/Chuck_Berry51.JPG 8. http://www.flickr.com/photos/rwp-roger/2953749709/ 9. http://www.flickr.com/photos/rwp-roger/2953749709/ 10. http://commons.wikimedia.org/wiki/File:Fotothek_df_roe- neg_0006503_008_Zwei_Kunden_und_ein_Verk%C3%A4ufer_an_einem_Wurststand_des_VEB_Fettverarb eitung_Berli.jpg 12. http://www.flickr.com/photos/mogmismo/1516068463/ 13. http://www.flickr.com/photos/primarygeography/3842714697/ 14. http://upload.wikimedia.org/wikipedia/commons/c/c6/Tsunami-kueste.01.vm.jpg 15. http://www.flickr.com/photos/foxgrrl/3974595767/ 16. http://www.flickr.com/photos/8198384@N03/3485752118/ 18 http://www.flickr.com/photos/yourdon/3613094285/ 21. http://www.flickr.com/photos/worldeconomicforum/3488886490/ 43. http://www.flickr.com/photos/rhianonf/3348023558/ 44. http://www.flickr.com/photos/vauvau/3989766534/ 46. http://en.wikipedia.org/wiki/File:Fredmeyer_edit_1.jpg 52. http://www.flickr.com/photos/_nijoker_/2805751399/ 53. http://www.flickr.com/photos/mecookie/3052444140/ SOMESSO Conference, Zurich 3 November 2009