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Social Media for Schwab Advisors
The views expressed by third-party speakers do not necessarily represent Charles Schwab. This presentation discusses the opportunities provided by social media for expanding brand awareness, driving traffic, and converting opportunities. It provides an overview of various social media tools including websites, blogs, social networking sites, and mobile applications that can be leveraged as part of a marketing strategy. However, the presentation notes that regulatory compliance considerations must be taken into account.
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Social Media for Schwab Advisors
- 1. The views ofthird-party speakers and their materials distributed are their own and do not necessarily represent the views of Charles Schwab & Co., (“Schwab”). Third party speakers are not affiliated with Schwab. Schwab Institutional is a division of Schwab. ©Charles Schwab & Co., Inc. Member SIPC. Exploring The Social Networking and Media Landscape John Stone III Revenue Architects, LLC
- 2. Today’s Discussion Whatis the Social Media opportunity? Tools of the Trade Using Social Media to support your marketing efforts Regulatory and Compliance Considerations
- 3. New Media: TheOpportunity Expand awareness: Social Media allows you to extend your online presence and increase awareness Enhance your credibility: Within compliance constraints, you can take advantage of these newer “outposts” and engage audiences across the social web Drive traffic your way: With social media presence, your own web site will benefit from inbound links and search engine page ranking Convert opportunities: With a thoughtful plan and a consistent commitment to social media engagement, you can nurture prospects into new clients
- 4. Where is theValue? Aware Interested Considering Evaluating Committed Customer Advocate Developing initial perceptions… 1 .. Considering alternatives… 2 .. responding to relationship and dialog… 3 … becoming advocates for you. 4
- 5. Today's New MediaEcosystem Social media represents the fastest growing segment of the Web This growing phenomenon is creating a new generation of “brand influencers” Every second 2 new blogs are created 1,500 new “Tweets” occur 1,157 videos are viewed on YouTube
- 6. An Architecture ofParticipation User Generated Content Users are publishers and consumers Crowdsourcing Folksonomy Engagement
- 7. A New Modelfor Information Information in Web 2.0 is more… ..dynamic ..local ..atomic ..relevant ..mashable ..mobile ..sharable
- 8. The Principles RemainUnchanged Relationships Referrals Human interaction Authenticity Communication Intelligent Content Conversations
- 9. Google… … AWindow to Audience Intention
- 10. Organic Search OrganicSearch is Best Free More traffic Smarter people Longer lasting Organic Results 75% Clicks Vs. Paid Search
- 11. Organic Search =AuthenticVisibility Off Page = 75% Social Mediasphere Blogosphere Directories Partners Press Releases Answers, Forums, etc On Page = 25% Keywords Relevance Page Title, Tags Meta Data XML Site Map
- 12. The Long Tail– New Marketplace “ Financial Planner” “ Financial Planner for Verizon retiree” Image from http://www.novelr.com
- 13. Tools of theTrade
- 14.
- 15. Your Own WebSite Branding and Design Strong Content, Multi-media Web 2.0 Features (Mobile, Sharable, RSS), Rich Internet Applications User Generated Content Interoperate/ Mashups Landing Pages & Conversions All roads lead here… be prepared to capture the opportunities
- 16. Web 2.0 &Social Bookmarking Users to share links / bookmarks Web 2.0 integration Free marketing Drive traffic back
- 17. What to publish?Articles/ Blog Posts Others’ Content Podcasts, Videos Photos Presentations eBooks News Releases Event Announcements
- 18. Email & eNewslettersEmail is still key to stay in front of your audience Emphasize content and value Consider Text vs. HTML Tracking codes Syndication RSS Promotion (e.g. Events) Opt-in & Conversion
- 19. RSS – ReallySimple Syndication Subscribe to a feed and automatically receive updates Search-based feeds helps content find you Subscriptions are free RSS can be used for digital publishing and newsletters SUBSCRIBE Feed Readers, Aggregators, Flash, Google Desktop, iTunes, etc…
- 20. Mobile Extend yourreach WAP or Native Applications Mashups (e.g. Location Aware) Customer Service / Account Access
- 21. Wikis - WikipediaCollaborative authoring of content User-edited content 17 million Wiki Pages Content changes must by approved Articles are cross-indexed
- 22. Blogs A website of posts published in reverse-chronological order Brings more dynamic content to your audience Wide range in quality Can build presence in the mediasphere Increase awareness
- 23. Blogger Impact ExampleJeff Jarvis coins phrase “Dell Hell” in his blog Comments publicized by New York Times and Business Week Dell responds by creating Direct 2 Dell blog
- 24. Blog Syndication Alignindividual and corporate goals Newsletter Syndication RSS based Compliance workflow is key
- 25.
- 26. Facebook Presence, SharingTransparency- Identities – Home/ Work Groups, Fans, Events Increase Brand Awareness Syndication (e.g. Tweets, Links) Referrals
- 27. Facebook: Compelling Facts250 million+ active users 120 million+ users log on each day Two-thirds of users are out of college Average user has 120 friends Source: Facebook http://www.facebook.com/press/info.php?statistics 5 billion minutes on Facebook each day (worldwide) 30 million users update status at least once each day 8 million users become Fans of Pages each day Fastest growing demographic is 35 years old and older
- 28. Twitter Follow news,trends, brands, people, topics A new social and political revolution Listen, engage, service An outpost to syndicate your content Convert sales Find experts
- 29. Twitter Example -Find experts
- 30. LinkedIn Average age:41 years Average salary: $110,000 45 million users 16 million worldwide monthly unique visitors 331 million page views in June 2009
- 31. LinkedIn – KeyValue Credible business referral Network Professional outpost Tool for content syndication Long tail groups and communities Keys include connections and credible content
- 32. Financial Advisors inMy Network? Do they have a credible resume? Have people recommended them? Have they published? What is their particular expertise?
- 33. YouTube Another storefrontShareable, Relevance 24x7 Marketing Credibility Lead Generation Syndication – to your site, others Free – but requires commitment
- 34. Extend your MediaPresence
- 35. Podcasts Communication withsubscribed listeners Encourage sales & conversion rates Support nurture program Ability to offer richer content, greater loyalty Differentiate Appeal to long tail niche
- 36. Groups, Communities, Forums Share media, participate, communicate, innovate Foster advocacy Online focus groups / R&D Groups - Participate or Lead
- 37. eBooks Training, handbooks,reference guides, product guides, manuals Rich content, commercial Value Multi-media experience Searchable, indexed Credibility
- 38. Listening What isthe “Conversation” about you? Where to Listen: Relevant Forums, Blog Search, Twitter, Google Alerts Advanced listening systems and dashboards Determine the sentiment Participate in conversations
- 39. Events and WebinarsBuild credibility Collect registration data Promote with Facebook, Twitter, LinkedIn Enable the nurture program and permission marketing
- 40. Internet Marketing OpportunityYour Website Visitors! Conversions Landing Pages Offers Content Key Words Social Media Other Websites Inbound Links
- 41. Creating Value AwareInterested Considering Evaluating Committed Customer Advocate Developing initial perceptions… 1 .. Considering alternatives… 2 .. responding to relationship and dialog… 3 … becoming advocates for you. 4
- 42. What you cando? Talk to your compliance partners Good Better Best Establish an online presence with outposts within social media Enhance your web site experience Publish original content around your specialty Build your online network Syndicate your content across outposts Establish a nurture program with multi-media content, events and self-selection Better enable online conversions (e.g. engagements with your firm; two-way communications)
- 43. Consider Regulators &Compliance Look at all the Regulators who impact your business Use of advertisement product may require preapproval Establish firm policies related to electronic communications and participation in electronic forums such as social networking sites * Charles Schwab & Co., Inc. does not provide legal or compliance advice.
- 44.
Editor's Notes
- #2 This presentation is designed to help you have better and more productive conversations with your distressed clients. Doing so will not only help you build credibility with clients, but also differentiate yourself in the eyes of referral advocates like CPAs and attorneys.
- #5 A 3% increase across key stages can deliver 50% more sales Very few clients today are coming through on the internet Largest growth is over 40 however SoMe actually enhances the existing model – referrals Specialization: Orthopedic Surgeons, Verizon Retirese Fit in to existing strategied Marino Stram just did a great financial plan
- #6 … Brand Influencers ….who are collectively influencing brand perceptions and purchase decisions as more consumers turn to “peer-to-peer” Web communications as their trusted source of news, information, and opinions. “ The value of a network is proportional to the square of the number of connected users” Average age of evening news viewer: 60
- #7 Architecture of Participation User Generated Content Flickr – Popular photo sharing site, originally had no photos, therefor no value. The community has made Flickr a resource for viewing photographs from all over the world. Web 1.0 mimcked traditional media in the sense the information was coming from a single source the top and being pushed to users In Web 2.0, users have become both the publishers and consumers of content, which means information no longer comes from the top. Will go in depth in a few minutes when we talk about blogs. Database growth is exponential – Take the Flickr example. Even if Flickr was manually pushing out 100 photos per week, the amount of content will always remain linear. With users creating content, as the site popularity grows, the content being created will go from 100 to 500 to thousands of photos per week
- #8 Local Community Connected
- #10 Client
- #13 The long tail can be used in terms of economics: The most popular items will be on the left of the chart As the popularity gets less, the chart goes off toward the right indefinitely (this is the long tail) The long tail (if taken as a whole) will outsell the most popular items This is easily translated to the web: The most popular sites will receive lots and lots of traffic For each of these popular sites, there are 100,000 less popular sites (1 New York Times versus 100,000 Personal Blogs) Represents a power shift from corporation to consumer (which is a recurring theme in Blogs/RSS discussion) In the end, the long tail (as a whole) controls the market, receives more hits than the popular sites This becomes important when talking about our next topic, BLOGS Advisors are not using sites – brochure ware – some as portals for clients to access secure statements
- #14 Blogs are one of the Web 2.0 tools that have really changed the web. So, what is a blog?
- #15 Sites Shown LinkedIn is a social network of business professionals Facebook/MySpace are geared towards a younger audience, but is often utilized at the enterprise level for viral advertising, etc… Ning is a way to create a social network for free using SaaS Clearspace is a enterprise-level platform (either in front of or behind the firewall) Del.icio.us allows users to submit, tag, save and share website and blog content Benefits of Del.icio.us Marketing: Great resource when conducting product or market research Submit your own articles of interest Flickr is an image and video hosting website, web services suite, and online community platform. It was one of the earliest Web 2.0 applications. In addition to being a popular Web site for users to share personal photographs, the service is widely used by bloggers as a photo repository. Social Software Social software is a concept that has really taken hold in the new web Allows people to collaborate and communicate in new and interesting ways Sites have no inherent value, all value is provided by community
- #17 Digg
- #19 Email blasts to mitigate market conditions Regulatory Custody Schwab Fidelity TD America Compliance – resp for their own Fee based Asset based
- #20 This is a high-level example of how RSS works. Publishers – Blog Articles, Links (through del.icio.us, a social bookmarking site), Podcasts, Photos (from Flickr), Video (from YouTube) Once an article is published it is automatically picked up by subscribers Subscribers - Web-based feed readers (Google Reader), Desktop Applications, Aggregators (combine multiple feeds into single location, will discuss momentarily), Animated Flash Tickers, iTunes (podcasts), etc… There are hundreds of tools out there that can subscribe to feeds… POSSIBLE AGGREGATION OF CONTENT
- #22 Wiki as a Knowledge Base Most popular example is Wikipedia All Wikipedia content is managed by is audience Anyone can make changes, but changes must be approved Power lies in cross-indexing of articles, you can define new terms by pointing to their own entry Too much business process information is tribal knowledge “ Go Ask Jim” > Why is Jim the only one with this information? Any unknown process should be recorded in the wiki Eventually you will migrate all tribal knowledge into an easily searchable index of information
- #23 So now instead of a few sources of news we have MILLIONS of independent sources of information 50 years ago, corporate image was built on what they showed us on TV, Radio Now you no longer sweep bad press under the rug, your image truly represents your actions Again we see the consumer gaining power through Web 2.0 The conversation about your brand is taking place in the blogosphere with or without you. Are you participating?
- #24 Case Study: Dell Hell Blogger Jeff Jarvis is not happy with his laptop, write incendiary post about Dell using the phrase “Dell Hell” Within days, his comments published in the NY Times and Business Week This shows exactly how bloggers have real power to influence public opinion Certain blogs are thought of as legitimate news sources Dell responded correctly by creating a blog Not by creating PR campaign to overshadow Jarvis’ comments They created “Direct2Dell’ blog, authored by someone with over 15 years at Dell Give people a real human to hear their complaints, and actually respond Jarvis and other bloggers calmed down once they had a venue to air their grievances No one wants to throw stones at a huge corporation, people just want to be heard
- #29 Santa Barbara FIre
- #31 Add - morre
- #32 Add - morre
- #36 More Podcast examples
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- #38 eBook
- #39 Bogleheads Board Reader
- #42 A 3% increase across key stages can deliver 50% more sales Very few clients today are coming through on the internet Largest growth is over 40 however SoMe actually enhances the existing model – referrals Specialization: Orthopedic Surgeons, Verizon Retirese Fit in to existing strategied Marino Stram just did a great financial plan
- #44 It’s about communicating your value -