The Next 5-Years of Financial Services Digital Transformation

May 9, 2012 § Leave a comment


May 9, 2012  Large-scale social and digital initiatives are becoming a standard part of  future-focused programs at today’s leading financial institutions. In talking with peers, vendor partners, and those within the financial services industry…this much is becoming clear and it will have big implications for the next 5 year. Here are several of the areas of focus for these programs:

  • Social Media is slowly, but surely, transitioning from a marketing and campaign vehicle to a set of technologies and capabilities transforming sales and distribution, customer service, market research, and future product development. Today, large insurance and wealth management firms are reporting that top performers all leverage social channels as a significant portion or their lead generation success. Social customer service is becoming a standard element, but not one operated very efficiently. Market research and innovation teams are realizing success from mining social data and open innovation, but not maximizing its potential. All of this is just the tip of the iceberg and it is now time to start the hard work. « Read the rest of this entry »
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Scaling Social Media

May 2, 2012 § Leave a comment


4.30.12  During SXSW 2010, Jeremiah Owyang of the Altimeter Group discussed a challenge managing social interactions for businesses – scale. At that time, I nodded by head, but I was not entirely on board. Here we are in 2012 and I think those words make more sense to me now.

Going back again, the entire panel Jeremiah was speaking with disagreed. Partly because they were all responsible for running some aspect of social media for their firms and were keeping their heads above water (using some technology and small teams). 2010 was also the time of boundless social optimism and this was basically a negative thought. I mean…how dare we speak badly against the new wave of all consuming communication and change. « Read the rest of this entry »

A True Social Business Index

December 14, 2011 § Leave a comment


December 14, 2011 Over the last couple of months Dachis Group has been busy launching the Social Business Index. Obviously many more months went into its conception and development, but essentially the Social Business Index aggregates terabytes of data about organizations and their brand’s social presence from a variety of social signals that can be picked up (i.e. employees on social networks, how the market is talking about a brand, how many brands have presence on social networks, etc). For a quick peek see below:
Dachis Group Social Business Index Image

What is significant about this is that it covers more than 25,000 companies and more than 25,000 brands. That alone is incredibly impressive. More so is that the index is refreshed with new data every 15 minutes. It is built on Big Data technology, complex analytics, a custom scoring algorithm, and includes a tool kit for companies that are tracked to communicate internally about their social presence.

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Opinion: MySpace will Survive

June 30, 2011 § 2 Comments


June 30, 2011  MySpace has been through lots of ups and downs and it is hard to say exactly how to classify its sale to Specific Media for 35 million. Despite its troubles, I think MySpace has a bright future. Here are the primary reasons and what Specific Media should focus on.

  • MySpace is a Great Music Destination: If you like music and connecting with artists, it is a great site. Artists take care of their pages and provide insight into their lives through MySpace blogs, comments, videos, etc. While MySpace did not start out as a destination for artists it has become one of the better ones due to this. « Read the rest of this entry »

Morgan Stanley Approves Advisors to Use Social Media

May 27, 2011 § Leave a comment


5.28.11 Earlier this week, Morgan Stanley announced financial advisors will be able to use LinkedIn and Twitter in a more interactive fashion. To date, the financial services industry has limited use of social media due to regulations as well as general concern regarding risk associated with the medium.  « Read the rest of this entry »

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