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Which parts of the advice process will be impacted most by technology in the next 5 years?
Maximising social media ROI for financial advisers with Hootsuite
#SocialTrends2020
Gunnar Habitz
Senior Partner & Alliance Manager APAC @GunnarHabitz
Speaker
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How financial services is using social media to become more client-focused
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The benefits of using a single platform to manage multiple social media channels
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Practical tips for optimising a social media strategy
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An overview of Hootsuite social media management
Social Media Trends 2020
1 Striking a balance between public & private engagement
2
3
Employers take centre stage in a divided world
New social platforms take the limelight
4 Paid and organic social media converge
5 The social proof gap closes
Trend 01 Companies strike a balance between public and private engagement
45%
of people say brand trust is the primary factor driving them to a specific bank.
People look to public reviews and comments to determine trust in a financial services organisation.
Source: Raconteur, The Trust Imperative, 2019
Map public and private touchpoints through a customer journey
Public Feeds
Awareness
Public Testimonials Reviews Referrals
Public fees Evaluation
Acquisition
Private Channel 1:1
Engagement
Advocacy
TREND IN ACTION
Citadel
Raised awareness in public feeds while offering personal career advice and gamified brand engagement on private channels
What you should do in 2020
1
2
3
Create a seamless journey between public and private
Automate the easy stuff
Respect the function and nuances of private channels
Trend 02 Employers take centre stage in a divided world
With faith falling in traditional institutions, trust has found itself at work.
Source: PwC, Recruiting of the future survey, 2019
69% of FS employees agree that working for a company with a good reputation is more important than working for a well-known brand.
FS employees look for guidance at work
79%
of institutional investors use social media at work—most of this is to keep their finger on the pulse of news and trends
44%
of institutional investors use it to follow commentaries from managers in finance
Source: Greenwich Associates, How Social Media Informs and Shapes the Investing Process
The perks of purpose
Higher market share gains
3x faster growth
Strongly committed employees
TREND IN ACTION
Allianz Insurance
Sources employee advocacy naturally through progressive Corporate Social Responsibility (CSR) initiatives
What you should do in 2020
1
2
3
Do it before you talk about it
Lead from the top
Make employee advocacy a business priority
Trend 03 New social platforms take the limelight
Digitisation can be your biggest threat or your largest opportunity
22%
of insurance and wealth management companies are at risk of disruption from small, digital-first players who were originally too small to leverage economies of scale
Source: PwC, Technology 2020 and Beyond
Growing niche platforms
14%
increase in monthly active users
Sources: eMarketer, Pinterest, Reddit, We Are Social
28%
increase in monthly active users
30%
increase in monthly active users
POLL
Which social platforms besides the big three (Facebook, Twitter, LinkedIn)
did your organisation find to be most effective this year?
TREND IN ACTION
Prudential Financial
Focused on women as an audience through improved content strategy
What you should do in 2020
1
2
3
Keep an eye on new platforms and why they’re popular
Use new video formats to build community
Experiment on other niche platforms
Trend 04 Paid and organic social media converge
The role of the social media is changing
Engagement metrics disappearing Decline of organic reach Pay-to-play Pressure to deliver concrete ROI
Paid social delivers the type of concrete ROI that executives want from social channels.
Source: Hootsuite, Social Media Trends 2020 survey. Mid + Enterprise. Director and Above
54% of FS marketers cite ‘increasing acquisition of new customers’ as a top outcome for social in 2020.
Brand
+
Performance
● Awareness
● Action
● Advocacy ● Emotional content
● Advertising ● Rational content
Social marketers now have to do it all
Community managers
Creative storytellers
+
Paid social specialists
Data analysts
What you should do in 2020
1
2
3
Create full-funnel social ad campaigns
Unite social and search
Give brand campaigns time to perform
Trend 05 The social proof gap closes
Attribution models are built into social ad platforms
Why are ROI and measurement still such a challenge?
Social commerce features have bridged the top and bottom of the sales funnel Social marketers have access to more data than ever before
Many organisations have yet to take basic steps towards measuring the quantifiable value that social is bringing to their business.
Source: Hootsuite Social Media Trends 2020 survey
70%
of social marketers aren’t using an attribution model.
TREND IN ACTION
TaxAct
Switched attribution models to give social ads the credit they deserve
What you should do in 2020
1
2
3
Standardise UTM codes
Don’t get lost in attribution
Invest in both skills and tools
How Hootsuite Helps Hootsuite Enterprise Hootsuite Ads
Hootsuite Amplify Hootsuite Impact
‌ with a tightly integrated ecosystem Connect social media initiatives into existing enterprise systems with our global technology partners, 250+ integrations, and our social APIs.
Reputation Management/ User Generated Content
Compliance / Security
CRM / Marketing Automation
150+ Apps
Listening/ Monitoring
Thank you Ready to see Hootsuite in action? ow.ly/J8PA30pYLxK OR ASK ME
gunnar.habitz@hootsuite.com