Social Media Resources for Financial Services Privacy Pros
Everyone’s interested in privacy, but perhaps no one takes it more seriously than privacy professionals, especially those in the banking, insurance and financial service industries. Mix in social media, and marketing, and the conversation gets very interesting.
That’s what I found as I prepared a speech, slideshow and presentation guide for the International Association of Privacy Professionals Practical Privacy Conference here in Chicago.
Thanks so much to Beth Marshall, CIPP/US, Marketing Director Zurich NA, for inviting me to speak and for doing a fantastic job managing the program!
That’s Beth on the far right, along with me and the other panelists Dan Burks, CIPP/US, Chief Privacy Officer/Director of Vendor Risk Management, U.S. Bank; Michael O’Neil, Partner, DLA Piper LLP (US) and Richard O’Brien, President & CEO, Payment Pathways. Here’s our panel description, along with links to all presentations.
Privacy Considerations in the Online and Mobile Space: Mobile Payments, Behavioral Advertising and Social Media
A panel of professionals will dig into the ways businesses, especially financial services companies, are using mobile payments to meet their customers’ growing demands, the benefits and potential pitfalls of behavioral advertising and tracking and how social media can be used to reinforce and expand the reach of your message for sales and servicing.
Social Media Marketing Resources for Financial and Banking Services Privacy Professionals | Barbara Rozgonyi’s presentation guide
Here’s the information from my presentation guide. Whenever I speak I like to give my audience a list of resources. That way, they can share the information with their team.
10 Action Steps
1. Be Visible! Move social media icons above the fold
2. Set up a social media dashboard page that addresses privacy issues
3. Include social media updates with privacy tips
4. Link to articles with information on how to protect privacy
6. Twitter: link to social media dashboard in your profile; include a brief outline on twitter background image
7. Train team on social media policies and privacy matters
8. Delete updates from people that contain private information
9. Explore and participate in forums and message boards.
10. Think privacy in 3D: People, Company, Data
Almost 13 million users said they had never set, or didn’t know about, Facebook’s privacy tools. And 28 percent shared all, or almost all, of their wall posts with an audience wider than just their friends.
A survey on the social media activities of 50 leading private banks found that most had developed “amateurish” social media strategies, were “hibernating” on Facebook and displaying “tokenism attitudes” to Twitter and YouTube, according to Assetinum.com, an independent financial information portal for investors.
At the heart of the system is the Dynamics ePlate mobile payment device (Mullen says he no longer calls it a credit card), a paper-thin electronic credit card. It has an electronic stripe like any traditional credit card. It also has programmable buttons that can alter the usage of the card, depending on which button the user selects. You could, for instance, use a card as a credit card, or push a button and use it as an ATM card.
New research study “4Q.2011 Global Mobile Payment Market Forecast 2010 – 2016: Global mobile payments users to hit 1 billion in 2016 with $998.5 billion in transaction value” provided by IE Market Research Corporation has been recently published by Market Publishers Ltd. The report states that the global mobile payment revenue is expected to rise from USD 47.2 billion in 2011 to USD 998.5 billion in 2016, with CAGR of 83.7% from 2012 to 2016.
Those institutions doing well include Citibank in the lead (with 84 points) followed by: Société Générale (83 points), ABN AMRO (82), Barclays (80), Wells Fargo (76), Standard Chartered (73), Deutsche Bank (70), Vanguard (70), Commonwealth Bank (69), Nordea (68) and Royal Bank of Canada (68).
Nine out of 10 advisors have social media profiles; 73% on Facebook, 62% on LinkedIn and 27% on Twitter. And, 56% say they’re either moderate or extensive social media users.
According to SocialMediaExplorer.com, 90% of the discussions occurring online around banks and bank products are in forums. Here’s a forum engagement guide by Patrick O’Keefe, author of “Managing Online Forums.”
Wednesday, August 22, 2012 – Friday, August 24, 2012
Find your local chapter at http://socialmediaclub.org