• 2012 Predictions for Social Media in Financial Services

    Social media use is exploding for financial services firms, just as it is for enterprises across other industries. More and more financial companies are showing a broad-based commitment to adopting social media in ways that produce real business impact. But what else lies ahead for 2012?

    Last week I sat down with Socialware CEO Chad Bockius for our 2012 Predictions webinar, in which we discussed the social media trends he sees emerging in financial services. Now you can listen to the archive of the webinar to hear why Chad thinks that this is the year when social business gets personal, along with his specific predictions for consumers, financial advisors, regulators, and enterprises.

    Social Business Questions Advisors and Enterprises Must Answer

    Early on, Chad made the observation that “Social is how we live now—not just how we play,” and pointed out that consumers are increasingly turning to their social networks for trusted recommendations on handling their finances. We then talked about a number of issues that financial professionals must address if they want to get the most out of this sweeping change, including:

    • What do enterprises need to do to build momentum in social business?
    • “Social is the unfair advantage of 2012”—but how engaged does an advisor need to be to expect returns from social?
    • What actions can we expect from the SEC and other regulators this year, and what can companies do to be ready?

    As you’ll hear in the webinar archive, we left half an hour for Q&A—but still weren’t able to get to all the topics raised by audience members. Here were some of the questions we discussed:

    • “Companies are losing support and engagement from the broader firm because only a select few have access to social media. . . . What would you recommend?”
    • “Do you have any advice for social networking as it pertains to independent broker/dealers? Is there an added benefit in social media for a B2B-based firm?”
    • “When you talk about 100% adoption, are you referring only to the sales force, or to all employees including marketing, product, and support personnel?”
    • “We have brokers who are on LinkedIn and they always ask, ‘I’m on LinkedIn, I have connections, now what?’ How would you answer them?”

    To hear the discussion around these questions and many others, click here for the webinar archive page. And feel free to leave more of your own questions in the comments on this post.

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    Category: Financial Professionals | Tags: , , , , , , , .

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