View
3.094
Download
1
Category
Preview:
DESCRIPTION
Twitter, Facebook, Blogs, Social Networks – which tools should banks, insurances and other companies in the financial industry investigate. Also, costs and degrees of difficulty in adoption. Lee Bryant – CEO Headshift, part of Dachis Group
Citation preview
Social Business Design: Building Better Finance Companies
Lee Bryant, SOMESSO, Zürich 2009
www.headshift.com/projects
About[projects]
TRADITIONALLY, FINANCE HAS BEEN BASED ON SOCIAL NETWORKS:THIS IS NOT NEW!
We are seeing growing adoptionof social tools in financial services
BANK BLOGS& SOCIAL MEDIA
ONLINE COMMUNITIES MOVING TOWARDS SOCIAL NETWORKS
MARKET INNOVATION& NEW PRODUCTS
SOCIAL NEWS SITES
SOCIAL NETWORKING& STOCK PICKING
© 2009 Dachis Group
The next stage is taking this insidethe firm to create a next generation
‘business operating system’
connections
collaboration
culture
content
[social business design]
Social Business Design
1. Workforce collaboration
(cc) http://www.flickr.com/photos/yuan2003/403643949/
SOCIAL NETWORKS AS ORGANISATIONAL IMMUNE SYSTEM
NETWORKED, NOT JUST INDIVIDUAL PRODUCTIVITY
CISCO Experience:What used to be "me" is now "we" The goal is to get more products to
market faster ... Fifteen minutes and one week to get a [business] plan
that used to take six months!"
INTERNAL SOCIAL TOOLS TYPICALLY INCLUDE:> Wikis> Social networks> Blogs and micro-blogging> Social bookmarking & tagging> RSS & data feeds
EXAMPLE PROJECTS:> Cross-functional collaboration for a major bank> Secure social networking with clients for a big 5 consultancy> Internal knowledge sharing for assurance company> Employee engagement for a major insurance group
2. Customer participation
ANYBODY CAN FORM NETWORKS AND THE COST OF COLLECTIVE ACTION IS TRENDING TO ZERO
ATTENTION ECONOMY ?INTENTION ECONOMY ?
REAL-TIME SOCIAL NETWORKS AS INFORMATION FILTER & INFLUENCER
FUTURE CORPORATE BANKING:> personalised info services> conversational relationships> share expertise & knowledge> avoid commoditisation
FUTURE RETAIL BANKING:> brand communities> peer-to-peer help, self-service> user-generated information> better tools & tracker feeds> ‘intention market’ for lower acquisition and transaction costs
(But start with the basics)
LISTEN
ENGAGE
!"#$$%&'()*+))(,-.!/#&/%&
0%"12.,&(%-/%3'()*+))(,- 41#$%
5#&&(,&
34
MEASURE
EVOLVE
SHIFT FROM DEMOGRAPHIC TARGETING TO SEGMENTATION BASED ON BEHAVIOUR
EXTERNAL SOCIAL TOOLS TYPICALLY INCLUDE:> Blogs and Twitter> Facebook, LinkedIn, MySpace(be present where your customers gather)> Social Media Monitoring tools> Social Network Analysis tools> Community Platforms
3. Partnerships & service innovation
DATA SERVICES, APIs, & INTERFACES
SERVICE INNOVATION & THE ZAPPOS LESSON
NEW NETWORKED BUSINESS MODELS
NEW NETWORKED BUSINESS MODELS
ECOSYSTEM SOCIAL TOOLS TYPICALLY INCLUDE:> Data feeds & open APIs> Widgets and mini sites> Packaged content for others to use on their own sites> Partner / Developer Communities
EXAMPLE PROJECTS:> Multi-company social networking and knowledge sharing system for an equity investment house
© 2009 Dachis Group
Creating a social business program
> Analyse business-level issues> Drill down to specific use cases> Create a program with clear success goals & evaluation metrics> Run projects and connect IT projects to achieve these goals
CONNECTIONS:> Internal networks> Connectedness> Partner ecosystem> Client relationships> Market presence
© 2009 Dachis Group
hivemind
© 2009 Dachis Group
hivemind
CULTURE:> Sharing behaviours> Social learning / training> Socialising product info> Collective intelligence> Employee engagement
COLLABORATION:> Sense making> Group forming> Client data flows> Market data flows> Community engagement
© 2009 Dachis Group
metafilter
© 2009 Dachis Group
metafilter
CONTENT & FILTERS> Flow, feeds, ambient awareness> Clients get a ‘window’ on the firm> Social CRM intention mining
Adoption challenges
FOCUS ON ‘IN THE FLOW’ USE CASES, TACKLING PRACTICAL ISSUES
FOCUS ON OUTCOMES, NOT TOOLS
START WITH BEHAVIOURS PEOPLE KNOW, AND WORK FROM THERE
CONCLUSIONS:> Finance = data + networks> Threats posed by new trends are also opportunities for innovation> Information assymetries are falling away - compete in the open!> Intimate, social customer service is the best protection against price sensitivity and commoditisation
Thank you for listening
http://www.headshift.com
Lee@headshift.com
Thanks for listening!
I am lee@headshift.com andI live at http://www.headshift.com
Except where otherwise stated, photos courtesy of Flickr using Creative Commons license.Thanks to the following photographers:
http://www.brockcraft.com/wp-content/uploads/2008/11/bailout-graphic001.png
http://images.google.com/imgres?imgurl=http://thesituationist.files.wordpress.com/2008/02/
trading-floor.jpg&imgrefurl=http://thesituationist.wordpress.com/2008/02/08/
&usg=__aSMG_vYDG-
ve4VoLGPbQ5RygVA4=&h=955&w=1417&sz=327&hl=en&start=6&um=1&tbnid=LWmhX9Z
p1dOOjM:&tbnh=101&tbnw=150&prev=/images%3Fq%3Dtraditional%2Btrading%2Bnetworks
%26imgsz%3Dxxlarge%26um%3D1%26hl%3Den%26client%3Dsafari%26rls%3Den-us%26sa
%3DN
http://www.carbodydesign.com/archive/2008/05/15-virtual-painting-at-ford/1914-Ford-
Model-T-Painting-lg.jpg
http://www.touchgraph.com
http://www.flickr.com/photos/paul_irish/2379958609/sizes/l/
http://www.flickr.com/photos/poorfish/2402437518/
http://www.flickr.com/photos/brianboulos/36957265/
http://www.flickr.com/photos/7855449@N02/sets/72157606844282993/
http://www.flickr.com/photos/dplanet/94442623/
http://www.flickr.com/photos/joeshlabotnik/305410323/
Kate Niederhoffer & Marc A. Smith (Web 2.0 presentation 4/1/09)
http://www.informationisbeautiful.net/visualizations/the-hierarchy-of-digital-distractions/
http://www.flickr.com/photos/thedalogs/3184387156/
Recommended