Rapid Response – 3 Tips For Using Social Media in Financial Services

I’m currently sat on my regular bus commute and decided to ask my Twitter followers if there is a burning social media question they would like me to answer in the time it takes (about 60 mins) for my journey to end. My pals at @NectreGroup asked – ‘Do you have any tips on the use of social media in financial services?’ I’ve worked ‘in-house’ on social media at a large pensions company so have hands-on experience of this. Read on for some quick tips…

1 – Use social media as a channel for education – Products like pensions are far from sexy, however saving for the future is rather important. At times the options can pretty confusing, use social media to reach audiences that will appreciate the more laid back approach that the platforms allow. Think how you could appeal to demographics that need help such as young adults or new parents. Take an educationary angle and don’t be too ‘salesy’ Great content will work well for you while building relationships and help to ensure you’re front of mind when a person needs to invest in a product. Oh, and try and make the content something that people are going to want to watch, read and share. Old chubby guys in pinstripes and bowler hats is not the way to go.

2 – Use social media to build thought leadership - the financial services industry is constantly in the spot light, opinions are always strong and it’s very rare that an opportunity to be the voice of reason doesn’t exist. Get the people who are really in the know at your organisation to regualrly comment on news stories, industry trends etc. Use a well designed and structured blog as the vehicle for this. If you react quickly (take your work to your favourite Compliance team member!) and with great copy, you will start to become a trusted source for opinion. Not to mention the wonders that frequent and relevant content can do for your SEO!

3 – Use social media to build relationships - if you are a IFA looking to find clients to advise, becoming a master at a platform such as Twitter could be a major weapon in your (one nil to the) arsenal. First thing to do is start curating industry news, interesting lifestyle based articles etc and make yourself a resource for your (soon to be) followers. Acting as a filter of great content is an effective way to build trust. If you are creating your own then all the better! Remember to use relevant hashtags (no more than two in a tweet, one ideally) to help people discover your tweets. Once you are in the swing of curating content, start using Twitter advanced search to find people in your locale that are talking about financial services, or even tweeting and asking for advice on products etc. Follow them with a view to getting a follow back and then seek a dialogue. Never ever be to pushy or intrusive, take it easy and be genuinely helpful. You’ll start to see results if you really take the time it requires.

The tight regulation of the FS industry clearly means that you have to be careful when it comes to what you discuss on social media. It can also mean a dynamic approach can be hard to take due to compliance turnaround. Don’t let this put you off, look at it as a challenge and as a catalyst for great content.

Phew! Hope that was useful!

Please note, this was written in Evernote, on an iPad, on a shaky bus on pot hole ridden roads, so excuse any spelling/grammar errors and lack of links/images please! This first appeared on my Tumblr.

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Pinterest – Are You Buying Via It? [SURVEY]

Pinterest is the current darling of the social media world. Many reports have stated it is driving more traffic to sites than the likes of Google Plus and Facebook combined. Traffic is all well and good, but what is happening when a user lands on the product page for the image they’ve just clicked on Pinterest? Are people just virtually window shopping? At this point we turn to you, the wonderful readers of The Social Penguin Blog to give us all some insight into the world of Pinterest. Please answer the following questions in the comments section below this post. These questions are just a guide, please feel free to answer in whatever way you feel appropriate!

1 – Do you regularly click on an image on Pinterest in order to be taken through to the original site?
2 – Have you made a purchase once clicking? If so, did you do it within that initial visit?
3 – Is Pinterest really a route to buying for you or is it just a way of sending some time looking at cool pictures?
4 – Is Pinterest something you see as being a long term feature of your online time?

We await your views and are sure they will be very Pinteresting. Oh dear lord. For more reader opinion, see our popular post on the merits of Klout.

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Friday Freak Out – People Asking Me to Retweet Their S**t

Image credit - brandstyledesign.com

Mike and I were chatting about our freaks outs of the week and it turns out that we had the same complaint. We have both been approached by people, under slightly different circumstances, asking us to tweet or retweet what turned out to be total crap. For Mike, he was sent a direct message asking him to retweet a link to a bunch of people that are trying to raise money to make a movie. Fine, who doesn’t like movies? The problem was that they had absolutely no prior relationship with Mike and the request came out of the blue. Bad idea!

For me, I had one of my clients  send an email with a link to a blog topic that they thought would be “interesting” to our network. It was a nice break from the usual emails they send complaining about pricing but when I checked out the link it wasn’t an interesting blog post at all but a straight up sales pitch for business coaching and offered no actual value to readers.

Seriously, it’s just plain tasteless to send requests like this and it’s going to burn you sooner or later. Don’t get me wrong, there is definitely a right way to ask for a retweet and studies have shown that you are more likely to be retweeted if you do ask for it. But don’t be a jerk about it!

How to ask for a RT (and not be a jerk):

1 – Make sure what you want to have RT’d is worthwhile.  If you’re asking someone to go to bat for you then it had better be something that won’t make them cringe when they look into it.

2 – Don’t send that type of request to someone that you don’t have an existing relationship with. Being on the receiving end of those requests is pretty off-putting and more likely to get you called out for it (or even the topic of a Friday Freak Out post).

3 – Ask nicely, folks! Adding ‘Please RT’ to your tweet is a direct, non-offensive way to show that you want to get your message out there and the decision to RT is then left at the complete discretion of any potential RT’ers.  If your going to directly ask someone to promote your content then don’t pass it off as something it’s not and give an honest reason why you’d like their help with it.

4 – Don’t be offended if your request doesn’t go your way. Everyone has the right to decide what they want to put out to their social networks and your content isn’t a good fit for me, then take it like a champ and get over it.

Do you freak out when you get these RT requests too? How do you go about asking for a RT?

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Klout – Do You Really Care About Your Score? [SURVEY]

My current Klout score is 56. I’m led to believe that is pretty good. Does that make me proud and swagger around with an air of social media supremacy? Not really. Sure, it’s nice to have a high number but I find I get way more satisfaction from people reading and sharing my blog posts or thoughts (which of course does effect Klout, but you get me!). Anyway, the validity of Klout has been questioned more than OJ Simpson, with that in mind I’m not going to explore its merits to a granular level at this point. What I am keen to find out is:

1 – Do you take notice of your Klout score?
2 – Does having a low/high Klout score make you feel bad/good?
3 – Do you consider other people’s Klout scores when deciding if they are worth listening to?
4 – Have you ever used a Klout ‘Perk’ or received a discount/preferential treatment or even received free stuff due to a high score?

Would be very interested to hear your thoughts! Please leave answers in the comments section below.

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The Power of Citizen Journalism (VIDEO)

Take a look at this great video from David Bowden that explores the power of Citizen Journalism facilitated by the social media platforms. It’s a powerful portrayal of the globally connected world we now live in. Back in February we featured another video by David – ‘The Inner Net’ which is well worth a watch. Please note, some viewers may find portions of the below video disturbing (safe for work).

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Why Social Media Imagery is More Important Than Ever

A picture is worth a thousand words. A video perhaps even more. As the social media channel matures, there is a clear increase in focus on the use of imagery, both still and video, across the established and emerging networks.

The Instagram and Pinterest Effect

I’m not going to talk about the rise of Instagram and Pinterest, don’t worry! The reason they are included as a key part of this post is the clear and rather obvious fact that they are built upon a foundation of imagery. The people that partake in these networks see an image as their first interaction with a piece of content, yes there may be comments attached to the image but it is the photograph (or video in the case of Pinterest) that grabs the initial attention. That image then (hopefully) compels the user to take an action. This could be as simple as a ‘like’ or a deeper action such as clicking the image on Pinterest in order to visit the site that it originated from. What happens then can clearly range from an actual product purchase to a further share on to another network via social sharing buttons – Twitter or Facebook for example. Both of these actions are highly desirable for a brand or business. This all points to the fact that images are becoming an essential on-boarding function.

Facebook Timeline

March 30th is looming and any brand on Facebook better have their Timeline in order. What is one the key components of the Timeline? Yup, a big fat ‘cover image’ that sits a top your TL (that’s what the cool kids are calling it) like a beacon in the night. Your cover image may well be the first impression your business makes on the Facebook audience. If it sucks, they may not proceed any further. If it catches their eye and puts across something special about your brand, it may well be the start of a beautiful relationship. More on-boarding. When it comes to user Timelines on Facebook, images play a huge and attractive part of them. If a user takes a snap on Instagram and shares it via Facebook (on to their Timeline), said image is placed in its full size glory slap bang in the middle of their Timeline. There is real potential there. I’m saying no more, you clever people can work out how to make use of that!

Credit - http://www.zazzle.com

Words Are Still Important!

This blog post will contain over 450 words once complete. It will also include an image. There is a fair chance that that image will offer you very little in the way of information. The real value (assuming you have gained any from it of course) is in the good old fashioned collection of letters, words and punctuation. Blogs and well-written web copy should still play an integral part of your digital communications mix.

What Next?

Be sure to consider how imagery and video will feature in your activities now and in the future. When you are planning your social media content, take the time to work out what activity will allow you to create and make use of great (emphasis on great!) imagery. If you aren’t already considering how photo-based networks like Pinterest could play a part in your strategy, then give it some time ASAP! Imagery works well across all key media consumption platforms and especially mobile. If that doesn’t sell it enough then nothing will.

How are you using imagery across social media? Have you seen great results?

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Social Change – The KONY 2012 Viral Fallout

I am on my third cold since Christmas so the word ‘viral’ is a touchy subject for me but the controversy surrounding the viral popularity of the KONY 2012 campaign is distracting me from coughing and sniffling right now and that’s nice!

Viral Sensation

Even if you’re not a social media addict, you probably still saw the KONY 2012 video lurking around Facebook or Twitter (or here on TSPB). Considering the video has been shared on Facebook over 2 billion times, it would have been nearly impossible to miss it. The stats showing how quickly the video and overall campaign reached dizzying heights in views, shares, tweets, mentions and pluses are nothing short of stunning. According to this post from The Drum, the video reached over 112 million views in nine days easily surpassing any kind of viral video that came before it.

Viral Controversy

And then came the naysayers! Nearly as popular as the original campaign, the droves of people and posts calling the campaign a ripoff quickly followed. It’s tricky to say if the controversy has added to the video’s viral popularity but it certainly added an interesting layer of conversation to a topic that many of us were unaware of a week or two ago.

Social Change

Only time will tell if the social media movement will bring about any kind of quantifiable change to current events (I say current since it’s now clear that the specific events from the KONY 2012 video are no longer taking place) but I think anything that brings attention to social issues is positive, regardless of controversy. I also think that this may be an indication that people are hungry for a real cause to get behind. Maybe we’re getting tired of hearing one another complain about our “first world problems”. In age of shortening attention spans and desensitisation, it’s nothing short of a miracle that 112 million people sat through a 30 minute video about a subject that didn’t benefit them in any way.

What are your thoughts on the KONY 2012 video? Do you think it deserves the attention it has gotten? Do you think that social media is a good platform for social change?

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Book Review – Little Bets by Peter Sims

When you think of Steve Jobs, what comes to mind? The billion dollar ideas of Apple are surely the answer for most of us. In the same way, when you think of Jeff Bezos, the goliath that is Amazon is probably the first thing you think of. However, Apple and Amazon didn’t just appear overnight as they are today. They are like icebergs, and what we see now are just the tips. There has been a whole lot going on out-of-sight that we just don’t hear about.

Image credit: inc.com

Ultimately, when you think of success, society has led us to perceive it in its current form, rather than considering how it has been achieved. In “Little Bets: How Breakthrough Ideas Emerge from Small Discoveries”, Peter Sims sets out to change this perception – and he does an extremely good job in doing just that.

Low-risk action

A ‘little bet’ is “a low-risk action taken to discover, develop, and test an idea”, according to Sims. His narrative claims that people become successful through making lots of ‘little bets’, rather than generating immediate success from a big idea.

Take Chris Rock as an example – while we all see his hugely successful performances, what we don’t see are the hundreds of acts he performs at small venues. He uses these low-key acts as little bets; opportunities to test out jokes and using the conclusions drawn here to move on to become bigger and better. He might fail with one hundred jokes before finding one that is well received and, according to Sims, not only is that failure ok, but an important part of driving future success.

What the book allows the reader to understand is that this idea of taking smaller chances and facing failure is not just something we see in one of two industries, but across the board – from Pixar to Amazon, the US Army to comedians. It inspires the reader to believe that whatever their passion and however small an idea, they are capable of achieving success.

Smaller bets

One of my favourite aspects of the book is that it nullifies the myth that successful people and successful ideas are always grand designs, arriving into the entrepreneur’s imagination in an Einstein-like flash of brilliance. That may be the case for some, but they are few and far between. For the most part, big ideas take time. Success takes time. Most importantly, success from a big idea usually derives from many smaller bets and a fair dose of failure.

In my opinion, it’s certainly not a book that is too enthralling to put down. It took me time, concentration and several afternoons to get through. However, I think that spending time on it was a good thing. It allowed me to consider my own ideas and play around with the little bets I could make in both my personal and professional life, and what sort of success I could achieve.

The biggest reason I would recommend reading this book? It opens up your mind and helps to change your way of thinking. By perceiving processes, ideas and success in this new ‘little bets’ format, it makes it all seem so much more achievable.

Rating – 8 Penguins (out of a possible 10)

Buy a copy on Amazon here (please note this is an affiliate link).

So, what do you think? Have you read Little Bets and have something to share? Not interested in it for a particular reason? Leave a comment below!

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5 Great Ways to Deal With Social Media Negativity

This post first appeared on my slot over on the great Sprout Insights blog on March 2nd.

Business owners dream of the day when everything about their product or service is perfect, their customers are super happy and that the balance sheet is constantly on the up. In reality, it can be near impossible to keep everyone happy, and the social media platforms are now a first point of complaint for many disgruntled customers or indeed prospective customers. So what do you do when faced with a negative comment? Read on for five tips that will help you smooth the way.

1 – Say Sorry

Sounds obvious right? But simply saying sorry can quickly stop a minor issue from turning in to a lengthy negativity nightmare. Take a bus company as an example (lets call it Wonder Bus). Stephanie’s bus was 10 minutes late this morning, she jumped on Twitter and posted:

‘My @wonderbus bus was 10 minutes this late, so annoying’

Note, that she isn’t actually asking a direct question, merely venting her frustration. From the Wonder Bus point of view, this doesn’t look great as this is a public grumble from a customer. From experience, a simple apology may well be enough to restore Stephanie’s faith:

‘Hello @stephanie we are really sorry to hear that your bus was late, please do let us know if you have any issues in the future’

You have apologised and let the customer know that you are there for them should there by a problem in the future. Make a private Twitter list of people that have complained, that way you can keep a track of any historical issues. Create similar lists for other key platforms too (spreadsheets etc). A simple yet effective approach.

2 – Have a Process

Clearly, not all issues will be resolved with a simple apology. When a more serious complaint comes in, you need to be in a position to deal with it effectively and quickly. Creating a simple process will aid this:

1 – Establish a dedicated point of contact within key departments – this will be the person that you flag the issue to and that will take ownership of the complaint. You need to maintain contact with them and ensure they are working to resolve the issue.

2 – Set expectations with the customer – once you’ve received initial feedback from your department you should get back to the customer and let them know when they can expect a full response. Please note, you should have already interacted with the customer, if they complaint is public in nature, aim to take it private (email or even phone) as early as possible, this not only makes it easier for the customer, but keeps any further negative details out of the public eye. Set an internal time scale rule for responding to complaints that were instigated via social media – you don’t have the time luxury that existed before the growth of social media customer communications.

3 – Respond - Once you have the relevant information, respond to the customer with a resolution. That may be an explanation of what went wrong, or perhaps an offer of a discount on future purchases, this is down to your business and how you wish to deal with complaints.

4 – Publicly resolve – While you should always attempt to communicate and come to a resolution with the customer away from the public eye, its very important to publicly resolve the issue. For example, if the initial complaint came in via your Facebook Page, you should close off the initial comment with a message such as ‘We are very happy that we have managed to help you with your issue and look forward to your future custom’. This shows your customers that you do pay attention to issues flagged via social media and that you will work to resolve them.

3 – Make Changes

The best way to avoid negativity is to not create any reason for it! By having a process in place, you will learn so much about the things that your business is not doing so well. Take that intelligence and work with key departments to make changes that will go a long way to improving your customers relations and overall sentiment around your brand.

4 – Encourage Advocacy

It may sound strange, but often customers that receive great service after an issue can be the best advocates for your brand. Nurture those relationships and the results may well be surprising. Building advocates is a huge area, but one you must have in mind at all times.

5 – Never Take Things Personally

If you are in charge of monitoring social platforms, it can be difficult to maintain calm during times of high levels of negativity. The worst possible thing you can do is react in a defensive or aggressive manner, you must maintain a helpful and reasonable approach at all times. Yes, there will be times when a customer is being unreasonable or even using ‘harsh’ language, but never, ever respond in a similar fashion!

How is your business dealing with negativity? Do you have any great tips to add? Please let us know in the comments below!

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Friday Freak Out – Crappy Follow Freakin’ Fridays

Everyone loves getting ‘bigged up’ – it makes you feel good right? The Twitter Follow Friday (#FF) can be a nice way of doing this but only when used properly. Being part of a mass #FF list such as - Hello & #FF to @jim @dave @cyril @daisy @jimmy is far from flattering, in-fact from a personal point of view, I find being in one of these about as welcome as a raging fart in a packed elevator. Then the inevitable happens, everyone on the list replies to all with ‘thanks for the #FF’. No need to tell everyone on the list that you have thanked the person who pulled together the list in the first place! Waste of everyone’s freakin’ time! Does anyone actually look at one of these lists and think ‘wow I am so going to follow them all’?. Why would you?

How To Do #FF Well

As much as it can be a pain in the ass when not done well, I do use Follow Friday to draw attention to or thank people that I believe have something to say that is worth listening to. The simple way to do this is to give people a reason to follow the subject of your #FF love:

#FF to @chucknorris < follow him because he is the toughest dude ever. When he does push-ups, the world moves away from him.

Ok, that’s a silly example. Try this:

#FF @randfish < the authority on all things SEO. Nobody does it better.

A simple approach that gives a clear reason why a Twitter user should act upon your recommendation.

Chuck - Would You Dare to Tell Him How Much His Beard Sucks?

Should A Brand #FF Its Followers?

Doing this can make one of your followers feel pretty special, but don’t overdo it, keep them for those who have shown a great interest in your brand or have been communicating with you recently. It’s a tip of the hat to individuals that may well be advocates for you either now or in the future. Just don’t do lists! Ever!

Does Anyone Act on a #FF?

Do you ever follow someone you’ve seen mentioned in an #FF? Do lists wind you up? Do you use #FFs to give kudos? Do tell…

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