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"Social Media @ Credit Suisse: Ein Spagat zwischen Aktivierung und Regulierung" (Barbara Müry Erni, Web Strategy, Credit Suisse) - Einführung: Strategische Ziele, regulatorische Herausforderungen - Social Media Governance: Social Media Competence Center, Guidelines and Trainings - Social Media Plattform Strategie: Channel Management und Überblick über Initiativen - Erkenntnisse & Herausforderungen
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Social Media @ Credit Suisse A Balancing Act between Activation and Regulation
December 2, 2013 – SOMshare event
Credit Suisse, Web Solutions – Barbara Müry Erni
Social Media is Changing Business and Decision-Making
92% of the users trust
peer recommendations
but
only 14% trust
advertisements*
From «Selling» to Connecting with the Audience
From «Large Campaigns» to «Small Acts»
From «Controlling the Message» to Transparency
* Source: Accenture 2011 & Nielsen 2011
December, 2013 Credit Suisse, Web Solutions 2
People Business –
Less about Technology
December, 2013 Credit Suisse, Web Solutions 3
Culture –
Transformation towards Transparency and Dialogue
December, 2013 Credit Suisse, Web Solutions 4
Private vs. Business
December, 2013 Credit Suisse, Web Solutions 5
Social Media Has the Potential to Positively Impact the Entire
Value Chain
Reach &
Coverage
Reputation &
Image
Awareness &
Consideration
Client Acquisition
& Profitability
Loyalty &
Advocacy
74% said “after interacting with companies or brands via new media, I generally have a more positive impression of the company or brand.“ (Consumers Demand Brand Interaction, Oct 2009)
75% of the global internet population visits social networks (Oscar, Talential, squeaker.net, 2011)
Majority of online consumers (74%) rely on social networks to guide purchase decisions. (Gartner, 2010)
Morgan Stanley case: 40% of all financial advisors had brought in new clients via social media. 60% of those with more than $1m of assets. (Morgan Stanley, 2012)
Fans on Facebook are 28% more likely than non-fans to continue using the brand, and 41% more likely to recommend a product to their friends (Facebook, 2011)
Market Share & Bottom Line Impact 27% of the surveyed companies reported having both market share gains against their competitors and higher profit margins through engagement with Web 2.0 technologies (McKinsey, Global Survey among 3,249 Executives 2011)
December, 2013 Credit Suisse, Web Solutions 6
As a Financial Institute we are Part of a Highly Regulated
Industry
We need to Archive any employee communication on third-party platforms such as Twitter/Facebook
Our global presences in over 50 countries have to be inline with cross boarder regulations and reflect banking secrecy
We are restricted in what we can say / sell to our clients
December, 2013 Credit Suisse, Web Solutions 7
Key Question
December, 2013 Credit Suisse, Web Solutions
Do we want to change our culture and start sharing,
collaborating and engage in an open and transparent
dialogue with our clients but also within Credit Suisse?
8
Credit Suisse has set the Stage to move beyond Broadcasting
into Leveraging Dialogue and Listening
December, 2013 Credit Suisse, Web Solutions
Dialogue Two-way
communication on
selected social media
platforms
Broadcast
One-way communication on selected
social media platforms
Status @ Credit Suisse
Governance – ready
Compliance tool – running
Identify opportunities – done
Pilots – work in progress
Listen Real time monitoring of conversations of all stakeholders in
blogs, networking platforms and discussion forums
Broadcasting on e.g. Facebook,
Twitter, YouTube, etc. – running
Monitoring tool – running
9
Credit Suisse Established a Social Media Competence Center
(SMCC) with a Global Mandate
December, 2013 Credit Suisse, Web Solutions
Mandate
Permanently develop the Social Strategy
Support the business across all SM initiatives
Conduct measuring & reporting
Develop a SM training & education framework
Define & share guidelines and best practices
Approve SM initiatives & global portfolio
Organization Model:
Coordinated Hub
Strategy Development
Education & Support
Operations & Implementation
Analysis
CORE TEAM EXTENDED TEAM
Risk Management
Evaluation & Approvals
Members Core & Extended Team
Web Solutions
CORE TEAM EXTENDED TEAM
Risk: LCD, TRM
ShS: Corp. Comms, IT
LOB
LOB
LOB
LOB
LOB
LOB
LOB
LOB
Tasks Core & Extended Team
Overall Coordination
SMCC
10
The SMCC Provides a Framework which Allows Business and
Employees to Engage in Social Media in a Compliant Way
December, 2013 Credit Suisse, Web Solutions
Guidelines & Policies
• External Social Media Guidelines:
Information and rules for all
employees
Information and instructions for
business engagements
• Policies:
Global Communications Policy
The Development and
Deployment of Credit Suisse
Web Sites (Global Policy)
Processes
• Social media initiative requests
pass a standardized process
• Dedicated social media advisors of
the core team support the
business from idea to
implementation
• All initiatives need to pass several
approvals before going live
Communication
• csintra.net/socialmedia
SMCC offering
Supporting documents
Request management
Social Media Blog
• Corporate News (June 6)
• One Magazine (Sept. 2)
Education / Training
• Social Media and You video
Addressing risks for every
employee and Credit Suisse
Call to action to read the
guidelines
• Social Media WBT for specialists
Do’s and Dont’s for social
media managers
11
Compliance
Training
Business
Concepts
Business
Idea Setup Launch
Social Media Initiative Request Process: From Business Idea
to Final Implementation
April 2013 TB&C - Web Solutions
Strategy
Approval
Risk & Corp.
Comms.
Compliance
Access
Compliance
Tool
Central
Approval re.
Brand
Compliance
Social Media Competence Center (SMCC)
Web STC >> Escalation and “game changing” requests
12
Every Social Media Initiative Needs to Support One of Our
Strategic Objectives…
1. Better understand our stakeholders
2. Raise brand and product awareness
3. Protect and enhance our reputation
4. Increase leads and conversion
5. Strengthen stakeholder relationships
December, 2013 Credit Suisse, Web Solutions 13
… and Comply with Our Social Media Platform Strategy
Focus on category leaders as primary platforms
Select the best matching platform per target group and activity
e.g. for Private Clients:
− Broadcast:
− Dialogue:
− Relationship:
Comply with the channel strategy per platform:
e.g. for Twitter: one channel per region and further channels only for specific
target groups/topics assuming at least one tweet per day and for individual
accounts.
December, 2013 Credit Suisse, Web Solutions 14
Credit Suisse has Already Started to Leverage Social Media
Capabilities Internally and Externally
December, 2013 Credit Suisse, Web Solutions
Social MyPage
Ideation
Communities
Social Q&A
CS Wiki
Blog
Internal
Collaboration
Closed
Communities
Alumni Network
External
Social Media Active Channels
eamXchange
15
The Business Demand for Social Media Initiatives is High with
19 Initiatives Running and 8 Being Processed by the SMCC
Credit Suisse, Web Solutions
Talent
Acquisition: 5
Reputation
& Branding: 15
Client
Service: 7
1 2 7
1 2 1
3 3
1
2 1
1
1
1
December, 2013 16
Monitoring – Sysomos
December, 2013 Credit Suisse, Web Solutions 17
December, 2013
Facebook – Corporate, Careers, Bonviva and Viva Presence
Credit Suisse, Web Solutions 18
Twitter – Corporate and APAC Presence
December, 2013 Credit Suisse, Web Solutions 19
YouTube – Corporate and Hong Kong Presence
December, 2013 Credit Suisse, Web Solutions 20
LinkedIn – Recruiting & Relationship Manager Profiles,
Company Page Updates
December, 2013 Credit Suisse, Web Solutions 21
Eqipia – Recruiting
December, 2013 Credit Suisse, Web Solutions 22
Lessons Learned so far
The business demand for social media initiatives is high – alignment with social
media platform strategy challenging
It is a long way from a high level idea to a detailed concept and support by the
SMCC is indispensable
To gather all the required risk assessments is a cumbersome process,
particularly for global social media initiatives
For client service initiatives risk requirements can be a major road block
To define and measure meaningful KPI with the business remains a challenge
It is difficult to draw a line between personal and professional employee activities
December, 2013 Credit Suisse, Web Solutions 23
Q&A
Q&A Q&A
Q&A
Q&A
Q&A Q&A
December, 2013 Credit Suisse, Web Solutions 24