This presentation was done at the JD Power & Associates Financial Services Social Media Roundtable in April of 2012.

1. Social Media Best Practices:
What’s #Trending Right Now in
Financial Services
Mark Zmarzly

2. Who am I?
2010 - my blog
2005-2011 – all in Bank Marketing
Editor I Copywriter I Creative Manager I
AE I VP of Business Development
Today
2005-2007 2008 2009 2010 2011 2012
2011
2009
VP of Financial
@BankMarketing
Service
Services
Linkedin.com/MarkZmarzly

3. Who am I?
1999
BA in English &
1975 Organizational 2005
Born Communication Studies MA in Creative Writing
0 1992 1996 2000 2003 2005
The “Salad Years”
High School Career Writer & English Teacher
Assessment: Forest Ranger

4. But, this is not
#TheMarkShow
For those Tweeting: note the helpful
#hashtags as our story evolves
#TheMarkShow

5. Why are we here?
1960s 2001
Al Gore Invents Wikipedia
the Internet launched
0 2000 2001 2002 2003 2004
2000
1998 Dot Com
Bubble Bursts Blog

6. 3/2008
Why are we here? Quicken Loans
on Twitter
11/2007
Keypoint FCU –
online banking
into FB
2005 2006 2007 2008 2009 2010 2011 2012
US 8/2007
Subprime TD Bank (Canada)
7/2007
Lending 3/2006 PayPal on FB
Peaks First Major FI Blog

7. Why are we here?
2011: FI customer visitation to FB,
Twitter, LinkedIn, showed a 31% growth
vs. just 8% for all online population.
BUT: only 18% of FI customers on social
sites are aware of their bank’s presence
with social media.
comScore: “State of Online and Mobile Banking Report.” 2/2011

8. We are ripe for
evaluation & reinvention!
Technology, Timeline, and Convergence

9. We may not be Red Bull…

10. But we can evaluate & reinvent!
• Kitty & Lala

11. Evaluating Current & Future
Trends
Communication I Connection I Conversation
Collaboration I Awareness I Engagement I ROI

12. Just because something
is trending, doesn’t
mean it’s a good idea.
Examples:
#Bangs&ShoulderPads
#Bangs&ShoulderPads #TheMarkShow

13. Trending now
Be bold Decentralize
Mission driven Embrace your SM efforts
Own your community Engage on the benefits
Engage sub-communities Voice & consistency

14. Be bold
• ING Canada – THRiVE Chequing Account
•Customer collaboration on design – 22K
clients took part in product preview
• Product-focused
• Evolved from their community of savers
• 10K pilot group
Radian6 Case Study & Interview with Gloria Chik: http://www.youtube.com/watch?v=izRaf6XDeqg

15. Be bold
• Large 1-day launch
• $185 cash component
• $7k in 7 hours – 4 Canadian Celebs

16. Be bold
• www.your185.ca
• 5 million impressions on SM sites
• 100 million traditional media impressions
• 37,000 new accounts in 3 months

17. Be bold: NAB’s Breakup
• National Australia Bank (NAB)
• 18% market share compared with
33%, 31%, and 18% = the big 4
• Twitter, Video, Guerilla, Print, Micro
• Feb 14, 2011
http://breakup.nab.com.au/2011/02/why-did-we-break-up/#content

18. Be bold: NAB’s Breakup
• Differentiation-focused
• Specialized landing page
• http://breakup.nab.com.au
http://breakup.nab.com.au/2011/02/why-did-we-break-up/#content

19. Be bold: NAB’s Breakup
• Results
• Commonwealth Bank and others
are fighting back – $1,200 cash for
NAB customers to refinance
http://socialmediaclub.org/blogs/from-the-clubhouse/social-media-case-study-national-australia-bank

20. Mission driven

21. Mission driven
• JP Morgan Chase
• Launched November of 2009
• 3.37 Million Likes as of 4-24-12
• 5 Million giveaway represents less
than 5% of the more than $100 Million
in yearly corporate giving.
• Facebook-based program that
generated over 100,000 visitors from
twitter in first 5 days…without Chase
having an active presence on Twitter.
• Grassroots, charitable passions, “the
passionistas” are driving engagement.
“Make Promos Out of Money You Already Give Away.” TheFinancialBrand.com

22. Mission driven

23. Mission driven
When I’m reading
about a Pitbull that
raises baby goats,
I’m officially
engaged!
#PitbullMommy
#PitbullMommy #Bangs&ShoulderPads #TheMarkShow

24. Own your community

25. Own your community

26. Engage sub-communities

27. Engage sub-communities

28. Engage sub-communities

29. Business owners are also using SM platforms
http://mashable.com/2010/03/02/small-business-stats/

30. Social reach
The size of your network is always smaller than the
size of your network’s network.

31. Decentralize to extend reach
• Centralized library of content that can be localized
• Tap Branch Managers1 & Biz Dev to Pilot
• What’s the value of owning your market?
• One local fan is equal to 40 corporate fans*
• EdgeRank
1During 2010,a greater percentage of small businesses with sales of $100,000 to <$10 million that selected the branch manager as their
primary contact was very satisfied with their bank compared to those selecting an account officer. - Barlow Research
*The Power of Going Local. Mainstay. https://info.hearsaysocial.com/Mainstay-ROI-Report-C.html

32. Decentralize to extend reach
• Farmers Group Insurance
• 15,000 agents
• Platform to produce content and
disseminate down to agents
• 3-month pilot
• Internal platform for conversation
• FB, Twitter, and LinkedIn
• Regulatory compliance component
• Tracing policies back to SM interactions
IDC Buyer Case Study: Farmers Group Uses Hearsay Social to Empower Agents While Maintaining Compliance

33. Embrace your SM efforts

34. Embrace your SM efforts

35. Embrace your SM efforts

36. Engage on the benefits

37. Voice & consistency
• Only 11% of Gen Y has a primary financial relationship with a CU vs 15% of other ages.
• By contrast, 43% of Gen Y had a primary financial relationship with a top-10 bank,
compared with 38% of all other consumers.
• Gen Y Membership Growth Goals for Y&F: 50 – 100%
• Spokester at $30,000 + car
Javelin Strategy and Research – August 2010 Survey

38. Voice & consistency
• What’s the voice of your Social Media efforts?

39. Voice & consistency
• What’s the voice of your Social Media efforts?
• What would your storyboard look like?

40. Social Media Synergy: One
• Vancity – Canada’s largest CU
• $15.5 Billion – 59 branches
• Make Good Money
• Consistency:
• Socially responsible products
(5% environment fund credit card)
• Energy efficient home loans
since 2004
• Clean Air Auto Loans
• Community Shared Success
Program – 30% revenue to
members and community
• Carbon Neutral

41. Social Media Synergy: One
• Personality/Voice
• Community Focused
• Engage on the Benefits
• Consistency
At the center of Vancity’s brand is the concept of ‘balanced prosperity,” a strategy driven by a “triple bottom
line” of financial returns, social returns, and environmental returns. – Jeffry Pilcher of TheFinancialBrand.com

42. Social Media Synergy: One
• Community Focused
• Micro-toolkits for Non-profits
serving immigrants.
• GLBT community support

43. Social Media Synergy: One
At the center of Vancity’s brand is the concept of ‘balanced prosperity,” a strategy driven by a “triple bottom
line” of financial returns, social returns, and environmental returns. – Jeffry Pilcher of TheFinancialBrand.com

44. Social Media Synergy: Two
• #F***kingGreatBlades

45. Social Media Synergy: Two
• Dollar Shave Club – beta 4/2011
• Video launched March, 6 2012
• 2 Million views in first 4 days
• 4.1 Million views total
• $4,500 video production costs
Michael Dubin
• Co-founder & CEO
• Digital marketer/brand
development
• Improv comedy background
• Personality/Voice
http://business.time.com/2012/03/12/dollar-shave-club-a-start-ups-viral-ad-for-fing-great-razors-is-a-big-hit/

46. Social Media Synergy: Two
• Personality/Voice
• Product-focused
• Engage on the Benefits
• Consistency

47. Social Media Synergy: Two
• Personality/Voice
• Product-focused
• Engage on the Benefits
• Consistency

48. Social Media Synergy: Two
• 4.1 Million Video Views
• If 20% went to their site: 820K visitors
• If 1% ordered: 8,200
• If all 8,200 ordered @ $36 avg cost
• $295,200
• ($295,200- $4,500/$4,500)=
6460% ROI
http://www.ignitesocialmedia.com/social-media-promotion/why-people-share-content/

49. Social Media Synergy: Two

50. Social Media Synergy: Three
• SmartyPig, LLC – Iowa
• Launched in 2006
• Used DataVision’s 2.0 platform
• $0 in advertising expenses to date
• $500 MM in deposits (BBVA Compass)
• $2 Billion in Goals

51. Social Media Synergy: Three
• Personality/Voice
• Product-focused
• Engage on the Benefits
• Consistency

52. Social Media Synergy: Three
• Majority of customers have 4+ goals
• 70%+ of customers share their goals (can be kept private)
• When savers reach redemption, they usually open 2 more goals.
• "Social media as a whole isn't a luxury," says SmartyPig's president, Scott
McCormack, “it's a necessity, which is why banks are turning to us."
• Financial Literacy
• Cross-sell
• Contests
• Pre-spend behaviors
• Life stage data
• Special offers

53. Social Media Synergy: Three
“As banks struggle with social media, SmartyPig LLC is set to offer its tried-and-true
approach to any bank that wants it.”
“We are taking the essence of SmartyPig and we are putting it into an application that
can live inside of an existing banking website.“
Future: 6 domestic banks, 3 overseas banks, 3 prepaid card vendors, and non-profit.
http://www.americanbanker.com/issues/177_22/smartypig-social-media-twitter-facebook-money-systems-goal-saver-1046243-1.html

54. Today’s Goal?
Sky
Ocean Purple! #BerryPie
Water
#F**kingGreat Razors #PitbullMommy #Bangs&ShoulderPads #TheMarkShow

55. Where will we go?
2008 2009 2010 2011 2012
Leveraging the new SM and tech tools to offer good
conversation to all customers…& Nordstrom level engagement
to those that value it…at the moment of relevancy.

56. Social commerce
Customer Experience >
Engagement > Acquisition >
Retention > Brand Advocacy
American Express Case Study: Applying social media analytics to evaluate Link, Like, Love. Beyond the Arc.

57. Write your own ending…
#PitbullMommy
#TheEnd
#TheMarkShow
#F**kingGreatRazors
#BestTalkEver
#Bangs&ShoulderPads #BerryPie
#ZmarzlyRules

58. Let’s connect:
www.linkedin.com/in/markzmarzly
@BankMarketing
www.ihelpbanks.com
markz@actonfs.com