workshop iv: using social media & the web for financial education programs 10.5.09 riaz...
TRANSCRIPT
Workshop IV:Using Social Media & the Web for
Financial Education Programs
10.5.09
Riaz LatifullahStrategic Markets
LifeTuner®LifeTuner®
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OutlineOutline
Online Social Media Financial Literacy Opportunity
LifeTuner.org
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Online Social Media Financial Literacy OpportunityOnline Social Media Financial Literacy Opportunity
Subject Matter Experts
Subject Matter Experts
Friends, Family & Peers
Friends, Family & Peers
‘Been There’
Mentors
‘Been There’
Mentors
Print MediaPrint Media TVTV
Online:Simple Content
Site
Online:Simple Content
Site
Online:Social Media
Community
Online:Social Media
Community
Pote
nti
al A
ud
ien
ce S
ize
Pote
nti
al A
ud
ien
ce S
ize
Dis
trib
uti
on
C
han
nel
Dis
trib
uti
on
C
han
nel
Kn
ow
led
ge
Base
Kn
ow
led
ge
Base
Face-to-Face,
Seminars, Classroom,
etc.
Face-to-Face,
Seminars, Classroom,
etc.
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On Line Social Media Financial Literacy OpportunityOn Line Social Media Financial Literacy Opportunity
Print MediaPrint Media TVTV
Online:Simple Content
Site
Online:Simple Content
Site
Online:Social Media
Community
Online:Social Media
Community
Dis
trib
uti
on
C
han
nel
Dis
trib
uti
on
C
han
nel Face-to-
Face, Seminars, Classroom,
etc.
Face-to-Face,
Seminars, Classroom,
etc.
Att
rib
ute
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LifeTuner is a new expert-backed site designed to provide a simple roadmap to help Americans achieve financial security
Targeting young adults, ages 18-35
Takes a pro-consumer stand in its editorial, proprietary tools and content
Provides a community ofpeers, experts and “mentors” (AARP members who’ve “Been There”)
Introducing LifeTunerIntroducing LifeTunerIntroducing LifeTunerIntroducing LifeTuner
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Volunteer Experts to Answer Questions
Interactive Tools & AssessmentsCommunity
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$45,000$45,000
2727
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Expert AdviceExpert Advice
Volunteer experts in a wide variety of subject matters– Saving & Spending– Credit & Debt– Investing– Housing– Life & Family
One-to-many Q&A format
Opportunity for professionals to help others via on-line channel
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Community Decision-Making TriangleCommunity Decision-Making Triangle
Peers?
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People Identify
with Others
in Similar Situatio
ns
People Identify
with Others
in Similar Situatio
ns
Tools & Calculators Lead
to Ah-Ha Moment
s
Tools & Calculators Lead
to Ah-Ha Moment
s Decision Making Triangle
Decision Making Triangle
Positive Behavior ChangePositive Behavior Change
ActionActionActionAction
People Identify
with Others
in Similar Situatio
ns
People Identify
with Others
in Similar Situatio
ns
Decision Making Triangle
Decision Making Triangle
Tools & Calculato
rsLead to Ah-Ha
Moments
Tools & Calculato
rsLead to Ah-Ha
Moments
BehavioralChange
BehavioralChange
“The site has encouraged me to take a lot closer look at my financial situation, to save more, to invest more, and to actually get on a budget. I still have a long way to go,
but at least the site has me moving in the
right direction.”
Peers
?“I have decreased my credit card debt by
85%”
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How is AARP Doing This?How is AARP Doing This?
Habits8
Used Potential Users to Design & Test Offering
Straight-ForwardContent
Interactive Tools
Communityof Peers,Experts & Mentors
No Sales Agenda
Pro-Consumer Perspective
Trusted & Unbiased
Brand
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8 Core Habits of Personal Finance8 Core Habits of Personal Finance
1. Spend less than you earn
2. Save at least 10%
3. Borrow wisely
4. Invest, don’t gamble
5. Make enough money
6. Prepare for an emergency
7. Cover your assets
8. Get the family on board
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• Tools to see the impact of your financial choices
• Success stories from relevant peers
• 8 “Habits” to follow
Awarenessthe “AHA” moment
Awarenessthe “AHA” moment
• How to guides• Expert FAQs Wiki• Suggested tools &
resources• Ability to ask
expert for advice
Help from experts on what to doHelp from experts on what to do
• Communal learning• Motivation
One person’s change sparks
others to change too
One person’s change sparks
others to change too
• Peers with relevant experience
• “Mentors” who have been there done that
Support from the community on how to execute on change
Support from the community on how to execute on change
Person who successfully changes becomes an example and support to others
Person who successfully changes becomes an example and support to others
Theory of ChangeTheory of Change
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LifeTuner.orgIdeas, questions or comments?