The document discusses how social media and social business will change businesses in the future. It defines social media as technologies that enable massive online communities, and social business as creating dynamic systems to improve value exchange among stakeholders. The document outlines how the social media landscape is growing and financial applications are emerging. It argues that social business will improve productivity, transparency, agility and profitability by connecting people internally and externally. Companies must build strategies to engage customers through social media and adapt their business models for the new ways of working enabled by social technologies.

1. Social Media and Social
Business the coming
business changes
Alpesh Doshi
Fintricity

2. Agenda
Introduction to Social Media & Social Business
Social Media – the landscape
Social Business – How businesses will change
Summary

3. Definitions
Social Media Social Business
….is a set of technologies and … is the intentional creation of
channels targeted at forming and socially calibrated and dynamic
enabling a potentially massive business systems, process and
community of participants to culture. To create enhanced
productively collaborate value exchange among
Anthony Bradley, Gartner, 7th January 2010
http://blogs.gartner.com/anthony_bradley/2010/01/07/a-new-definition-of-social-media/ constituents delivering improved
and emergent business
outcomes

4. An example of communities.....
Application of Web 2.0 Created to work with a
within the enterprise. Enterprise Extended private community (e.g.
Focussed on enabling 2.0 Corporate Business partners) like
employees to interact wholesale or white label
A social application and Consumer facing Web
service for a trusted Public B2B Consumers 2.0 presence with
group – your community Trusted Focused possible integration into
of IFAs other networks

5. The Conversation Prism

6. Social Media Landscape
Large and growing social media applications
Consumers across the demographic (18-40)
Social Networks have become a part of daily life
Financial Applications starting to emerge......

7. How is this relevant to Financial
Services?
Finance sites are sprouting everywhere....
Lead by US (although regulation is different)
Social Media sites provide online tools and services
to manage finances... And share goals
Here is an example from something in the UK....

9. Social Media Marketing
Social Analytics Data
Semantics Social Graph

10. Why use Social Media?
Engage and Interact with Audience/Customer
To help Marketing and Brand Development
Build Trust in your Brand and enhance reputation
Understand needs and drivers of consumers
Driver loyalty and advocacy
Input to Product Development
How?
Social Networks Applications Blogs Monitor

11. Social Business - Characteristics
Conversations Transparency
Reputation Trust
Agility User Oriented

12. Many Business Functions can be
Socialized….
Working in Isolation ->
Collaboration
Marketing
Sales
Human Resources
Legal
Corporate Strategy
R &D
Product Development
Knowledge Education and Training
Management -> True Etc, etc Data is the
Information Sharing new Oil

13. Social CRM

14. Benefits of Social Business
Connect people internally and externally (e.g. expertise
location)
Building Communities across functional areas
Breakdown organisational barriers and functional silos
Promote broader participation
Improve external brand reputation and enhance
relationships
Discover how your organisation really works

15. Conclusions
Social Media is already here!
Brands are keen to reach their customers and learn more about them
Conversations and Interactions are common outside financial services
Driven by brand, transparency, interaction
Social Business is coming too!
Enterprises must change and adapt to the new ways of working
Will improve productivity, transparency, agility, profitability.........
Integrated strategy and plan needed (and it’s not only about building communities
Companies must build a strategy, operating model and solutions

16. About Fintricity
Fintricity works with companies to help them plan
and execute their Social Media and Social Business
strategies
Fintricity delivers business aligned technology
solutions to meet that need
Fintricity provides expertise around technology,
mathematics, computer science, sociology
blended to build and deliver the right solution

17. Thank you
• email: alpesh.doshi@fintricity.com
• mobile: +44 7973 822820
• web: www.fintricity.com
• blog: www.alpeshdoshi.com
• twitter: www.twitter.com/alpeshdoshi
• linkedin: www.linkedin.com/in/alpeshdoshi