Social Media in Banks

Social Media
@
Canandaigua National Bank and Trust Company
Canandaigua National Bank
Strategic Information and Planning Workshop
Wednesday, May 20 2009
Thomas Hawks II
Hawks Associates
Social Media
@
Canandaigua National Bank and Trust Company
Friday, August 21, 2009

Agenda
• What is Social Media?
• What business opportunities does it offer
Canandaigua National Bank?
• Social Media Strategy for CNB

The Need

Things Have Changed!

Social Media
What is it?

The Bright Side
• Thousands of people
can talk about you,
CNB and your services
• People are already
talking about you
• Banks are using Social
Media

can talk about you,
talking about you
Media
The Bright Side

The Bright Sid
USA Today points out that banks
are jumping on the Twitter
bandwagon. USA Today states that
Wells Fargo and Bank of America
have begun to "tweet” with
customers about everything from
bank fees to product features.
Discover Financial, American
Express and Citigroup have
launched Facebook or MySpace
pages. Some banks even put
marketing videos on YouTube.
Banks Use Social Media
can talk about you,
talking about you
Media
The Bright Side

The Dark Side
can talk about you,
CNB and your
services
talking about you
• NO control over the
conversation

can talk about you
talking about you
• NO control over the
conversation
The Dark Side

DoYou Know
What are They
Saying About
You?
AreYou Listening?

Social Media
From the Business Perspective
1. Social Media is about enabling conversation
2. It is about ways that this conversation can be
Prompted
Promoted
$ Monetized $

It’s All About
Engagement
People Objective Strategy Technology
P O S T

People
P Creators
Critics
Collectors
Joiners
Spectators
Inactives
The Social Technographics Ladder

Five Objectives
1. Listening
example: Bank of the Southwest
2. Talking
example: Canandaigua Nat’l Bank
3. Energizing
example: American River Bankshares
4. Supporting
example: Wells Fargo
5. Embracing
example: Arvest Bank Group
Objective
O

Strategy
S Strategy
1. Create a plan that starts small but has
room to grow
2. Think through the consequences of
your strategy
3. Put someone important in charge of it
4. Use great care in selecting your
technology and patrners

Technology
Technology
T Social Media Categories Social Media Tools
Social Networking FaceBook, LinkedIn, MySpace
Publish Blogger, Constant Contact,Wiki
Photo Sharing Flickr,Twitxr, Photobucket
Audio iTunes, Podcast, Rhapsody
Video GoogleVideo, Hulu,YouTube
Microblogging Twitter,Twitxr, Plurk
Productivity AOL, Constant Contact, Google
RSS RSS 2.0,Atom, FeedBurner
Search Google Search,Yahoo,Technorati

Technology
Social Media Categories Social Media Tools
Technology
T
Month 1

Technology
Technology
T
Month 2

Technology
Technology
T
Month 3

Technology
Technology
T
Month 4

Business Opportunities
for Canandaigua National Bank and Trust Company

Business Opportunities
Marketing Cost Savings
Increased Customer
Loyalty
Increased Customer
Satisfaction
Increased Sales

Call-To-Action
1. Engage Social Media Expertise
2. Engage CNB Leadership and employees
3. Analyze Customer Social Technographics
4. Develop a Clear Objectives and Strategy
5. Define Social Media Tools and Costs for Implementation
6. Engage Customers and Move Forward
7. Measure What’s Most Important

Let’s Start a
Conversation

Thomas Hawks II
Hawks Associates
585-704-7210
thawks@hawkspro.com
www.hawkspro.com
Let's create a deeper connection with Social Media
LinkedIN: linkedin.com/in/hawkspro
Blog: hawkspro.wordpress.com/
FaceBook: facebook.com/tomhawks2

Social Media in Banks

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