BlogWell: How Big Brands Use Social Media is an amazing series of events presented by SocialMedia.org that features 8 great case studies in corporate social media. To learn more, visit socialmedia.org/blogwell/.
To download the slide presentation in this video, visit http://wom.us/11pkI9k.
In her BlogWell New York presentation, TD Bank Group’s Vice President of Social Media & Digital Communications, Wendy Arnott, talks about how they are becoming a social business by engaging employees and connecting customers with experts.
She shares the lessons they learned during implementation, including the necessity of leadership support, creating internal partnerships, and focusing on the voice of the customer.
Below is live coverage of this session by Merrill Richmond:
— Wendy says the words “social” and “bank” are not usually paired. In fact, she asks, “Can a bank be a social business?” They’re highly regulated, conservative, and risk averse. But, customers and employees were moving toward social media. So, Wendy asks, “How can TD be a social business. What’s right for us?”
— Wendy says they’re organized to fit the “conservative” culture with a centralized structure: hub and spoke.
— Wendy: When they asked questions like, “What are we going to do with it?” and “What elements can social play in this?” they landed on key areas: Convenient service, expert advice, customer relationships, and connect employees. They started small, tested, and built up where they found traction.
— Wendy says social connects employees and connects customers. TD Bank Group has 85,000 employees connected. Wendy says it’s a non-moderated, open network with 6,5000 communities formed. And it allows easy access to experts across the company.
— Wendy says for example, even a single advisor working in a remote branch has access to the best experts anywhere in the company. They’re speedy, best in class advice can be brought to remote locations and more efficiently than email.
— Wendy: Social customer service running in US and Canada. Tweet them! @TDBank_US @TD_Canada
— Wendy: Regulations limit how much info can be provided on Facebook and Twitter. So they created TD Helps, a subset of experts who work on the website via a community. Some of the info is available on site already, but customer behavior favors asking questions “about me,” so they post to the community. As a benefit, these answers are shared with a larger community and spread the information to larger audiences.
— Wendy shares lessons learned during implementation:
-Leadership support is critical. “Social is never done’…need to continually promote w/leadership.
-Keep voice of the customer in front of leadership and they respond to the benefits of social.
-Testing w/in the ‘social team’ is appropriate but at some point you need to move the program in to the ‘core’ department. Migration to HR or Customer Service or Marketing from social team is a needed step if you’re going to transform to be a social business.
-Work with internal partners…and don’t be a cowboy. Listen to their needs…get them to be a part of the program.
-Think about how social can transform the business. Social tools never before available create powerful opportunities.
Q & A
Q: What are your metrics and analytics?
A: Wendy: “Everything that counts can’t be counted” — but we look at mentions, sentiment, behavior patterns, etc. But the metrics are nascent. Important thing for now is to stay focused on the goal and see where it takes us. Metrics are part of the story but not the entire story.
Q: Where did you get early buy in? Is the social media team the hub?
A: Wendy: In the early days this was a three person effort. Most of the effort in early days was about education to organization about “voice of the customer.” We celebrated every interaction. Phase 2 became a steering committee with senior leaders project by project. Now it’s grown to across the organization. Now, we have 25 people in our Center of Excellence and another 45 people who contribute and provide oversite.
Q: Have you created a dashboard for the executive team to include social as a listening tool to complement the branches and service center?
A: Yes, we have a dashboard we share quarterly along with main themes and topics. We also create specialized reports that summarize the range of discussion around a specific topic. These sentiment and insight reports are well-liked by execs.