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Flintstones to the Jetsons:
How to Implement a Compliant Corporate Social Media Strategy And Live To Tell Others!
April Rudin, The Rudin Group
Corporate Experience plus private banking background
Skilled in structuring strategic alliances/social media marketing producing successful campaigns for winning new business
Seasoned professional in wealth marketing and frequently speaks in front of groups such as IPI, Family Office Exchange (FOX) and other wealth management industry conferences.
Frequent contributor/blogger on social media/marketing for Huffington Post, Registered Rep, Fundfire, Family Wealth Report, etc.
April Rudin is the founder of The Rudin Group, a wealth
marketing firm. Her firm specializes in creating customized
marketing solutions for family offices, wealth managers, private
banks and other financial service firms. She works alongside
clients to strategize and implement solutions for attracting and
retaining UHNW/HNW clients.
Financial Services is:
Slow moving and late to adopt change
Populated by left-brained thinkers
Highly regulated
Risk Adverse
Financial Services is:
Followers not leaders in innovation
Experiencing a commoditization of services
Undergoing a seismic shift in client
experience and expectation
Disruptive Technology +Economic Climate =
Opportunities
Flintstones to Jetsons
Technology boosts messaging and visibility
One Orchestrated Message
Make it the right one.
Where Are We Now?
• Wealth management firms have not felt serious pressure until now due to best clients being oldest clients and thus, perceived as the least likely to use new technology including mobile internet and social networks
• Wealth Management is a “person to person” industry—Fiduciary Trust
• Older FA’s are typically the ones with the biggest book of business
• Babyboomers (ages 55 +) are the largest group of wealth holders
• Wealth is being created at a younger age and Babyboomer succession planning is contributing to this phenomenon .
Branding In Financial Services
• Financial services’ brands create the security, consistency and trust with the target market and are developed at the corporate level but must be executable at the local level or the brand loses value
• Strong corporate brands (especially in financial services) lead future clients away from making decisions based on price when other more meaningful differences between brands are communicated
Extending the Brand and Other Strategies• Branding can be extended from one or more core products to others. For example: one might offer wealth management services and partner with other service providers in insurance products, etc.
• Partnerships and strategic alliances are ways of extending your brand and gaining access to “warm leads” and pre-vetted future clients
• White-labeling is another brand extension strategy where additional products or services are offered from the outside but under the same brand.
• Naturally, brand extensions must be logical and fit with the given brand and business model but can provide additional revenue streams
How Can You Use Personal Branding to Strengthen the Corporate Brand?
Converting Chaos to Calm
Social Media Jargon
Discover the DifferentiatorsUnique Value Proposition
Social Media Platforms Platform Unique Factors Number of Users Strategies and
Best Practices
LinkedIn Business networking and relationship building, introductions
115 Million Structuring your profile and joining groups
Facebook Small Business/Personal branding/Consumer brands
750 Million B to C, Business pages
Twitter Opportunistic, newswire, short burst in real-time
200 Million Aggregating and curating content to attract
YouTube Most AuthenticTeach and LearnLook + Listen
440 Million In five years, all websites will be video
Google+ Feasting on SEO and Adword content
18 Million Struggling to be all things
Blogging Thought-Leadership + POV, Complex ideas
156 Million Content + opinion Commenting and engaging with others
ProfileBuilding
ProfileBuilding
Facebook vs Twitter in Financial Services
Why the explosion?
• Facebook is relationship-
driven
• Twitter is content-driven
Source: Corporate Insight 2008 and 2011
Year Facebook Twitter
2008 32% 15%
2011 59% 67%
ROI for Social Media Media
“The Well-Placed Whisper”
Creating a Prospect Pipeline
Non-profits
T&E Attorneys
Real Estate Attorneys
M and A Attorneys
CPA Firms
WealthManage
r
Investment Bankers
2011 Social Media Habits of the Wealthy
UHNW = Net worth of between $5 million and $25 million HNW = Net worth of between $1million and $5 million
Source: Social Media and the Affluent Household 2011 Report—Spectrum Group
20% of UHNW 19% of HNW
33% of UHNW20% of HNW
50 % of UHNW 75% of HNW
6% of UHNW 3% of HNW
6% of UHNW 3% of HNW
HNW Social Media Miscues
o Abandoned attempts at social media
o No plan in messaging – not nichey
o Inconsistent posting or blogging
o Too much original content and not enough curated content
Q & A Discussion
April RudinThe Rudin Group
Visit us at:www.therudingroup.comtwitter: @TheRudinGroup
Thank You!
PowerPoint Design Credit
Daron Rosenberg
Creative Director
Learn more at: www.daronrosenberg.com