Until now the collection of debt was largely a private matter. The combination of endemic middle class debt and the megaphone of Social Media might just end all that.

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2. uk.linkedin.com/in/customermanagement twitter.com/martinhw www.brainfoodextra.com 2

3. 3 120 second version of how not to do it

4. How Not To Do It 4 Apparently, the incident was not a bank-sanctioned activity, but was carried out by an individual or group of individuals If nothing else, this is a lesson to businesses about having a social media policy in place and practicing the highest levels of transparency when it comes to the use of social media profiles and content Debt collectors from ANZ bank in Australia have been caught setting up fake Facebook profiles in order to connect with debtors and get their contact details Described as a single guy who enjoyed footy, poker and running on the beach, Facebooker“Max Bourke” managed to get up to 80 friends before getting stopped ANZ has confirmed that several members of its debt collection department in Melbourne are facing disciplinary action over the incident .

5. How Not To Do It 5 The court found that because of the post to her MySpace page, she suffered Damage to her business and community reputation Extreme mental distress Aggravation Humiliation and embarrassment Paula Newland fell behind on her payments in early January on her 2005 Chevy Impala Debt collector shared that information on her MySpace page Woman then filed a civil lawsuit against the collection agency accusing them of violating collections law by harassing her online, on the phone and in person. She is asking for $25,000.00 in damages

6. How Not To Do It Debt collectors are using bait on Facebook to track down and keep track of debtors The online construct “Jenny Anderson“ was the tool of professional skip tracers, to all 658 of her "friends" 6

7. 7 How Not To Do It

8. Brand Building 8

9. 9 Understanding the new politics between socially empowered customers and brands

10. Connectivity Causes A Shift In Power 10

11. In How We Relate 11

12. In How Well We Relate 12

13. I Am A New Type Of Customer 13

14. Snapshot Of The ‘Social’ World 14

15. Broadcast v Listen 62% Felt that ‘companies are only interested in selling products and services to me, not necessarily the product or service that is right for me’ 15

16. Transparency & Trust 7% Trusted companies to ‘always act in their best interest’ 16

17. Self Generated Fantasy 9% Trusted what the company says about itself 17

18. Importance As Stakeholder 10% Thought companies took note of what they said 18

19. Trusted Advice 95% Used some form of internet comparison site formal and informal locations friends, families, professional reviews people they believe are similar to themselves 19

20. Open To Dialogue 69% Believed there would be a positive impact from companies taking more time to find out about their needs and interests 20

21. Open To Participation 82% Were interested in participating in product development Believed it would make them more likely to tell others about the company 21

22. Implications 22

23. 23 More clues on the changing script between customers & brands

24. How We Spend Our Time Online In UK 24

25. Our Impact Is Now Very Public

26. Imagine This 26 As the Western economies continue their relative decline, many consumers never recover from the recession

27. Imagine This 27 Being in debt becomes a shared social experience

28. Imagine This 28 What was a private matter between customer and debt collector loses its stigma as everyone ‘admits the disease’

29. Imagine This 29 Debtors publically attack brand reputations via social Media to generate mass sympathy & avoid repayment

30. Integrate This 30 Social activism of this type in US courts already reported Online ‘early warnings’ of debt collection tactics already reported in UK Conclusion Debt management is slowly being politicised and made public Method will now matter as much as outcome for DM brands

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32. 32 THANX FOR READING I also wrote a post “Social Media & Debt Management” to compliment this presentation over at www.brainfoodextra.com