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BlogWell Philadelphia Social Media Case Study: BlackRock, presented by Jonathan Haley

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In his BlogWell Philadelphia Presentation, "The Power of Social: The Secret Formula for Uncovering Social Solutions," BlackRock's Director of eBusiness, Jonathan Haley, shares how they used the power of social media for internal collaboration - and in turn, paved the path for an external strategy.

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  • 1.

2. The Power of SocialThe Secret Formula for Uncovering Social Solutions 3. Our Internal Problem Everyone is trying to feed valuable information to our Sales Team 4. Our Internal Problem

  • The way in which our sales team (and the rest of the organization in connection with the sales team) communicates and collaborates, has become very inefficient.

5. Our External Problem

  • We compare well with competitorsbut our users web expectations are set by the broader web, not our competition

6. And to Add to Our Challenges

  • We sell through intermediaries
  • and operate in a highly regulated environment

7. Taking A Step Back

  • BlackRock is
  • A premier provider of global investment management , risk management and advisory services to institutional, intermediary and individual investors around the world. As of September 30, 2010 ,BlackRocks assets under management total US$3.45 trillion
  • Who believes:
  • Since our founding, BlackRocks core philosophy has been grounded in the belief thatour clients needs are of paramount importance and our sole business is managing our clients assets on their behalf. We are committed to always doing what is in our clients best long-term interests.
  • And seeks to:
  • promote teamworkamong our employees worldwide
  • facilitateoperational integrity andefficiency

Source: BlackRock.com 8.

  • We are on a mission to solve this disconnect with a Social solution.

We believe that if we solve our internal collaboration & communication problem first we will convince the organization of the Power of Social And garner support for an external strategy 9.

  • For the first time ever.
  • Today only.
  • And only for those of you that chose to stay and see my presentation.
  • I will reveal the formula we use to generate social solutions to our problems.
  • let's see it in action

10. The Secret Formula

  • 1) Educate & Get People Talking
  • 2) Identify the Villain
  • 3) Uncover the Social Solution that Creates Business Value

11. Educate We made the authoring of content (for personal and professional use) a part of our annual objectives 12. We Started Blogging. Internally & Externally. 13. Speed research

  • 15 minutes
  • Weekly
  • Low expectations
  • Learning something new every time

14. Its Hard Not to Be Social If You Already Are 15. Identify The Villain Source: Carmine Gallo eBook: the Presentation Secrets of Steve Jobs 16.

  • There's no better way to get engagement from those you are trying to convince than to have a common enemy

Source: Carmine Gallo: The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience 17. 1 to 1 Communication & The Big PDF (or Print Out) 18. Uncover The Social Solution

  • We identified ways in which we could make this static communication
  • accessible
  • comment-friendly
  • share-able &
  • search-able
  • And into a valuable conversation

19. That Creates Business Value

  • Next, we needed to make sure that our solution provided real business value (resulting in revenue creation or cost-savings to the firm)
  • Weve projected and intend to benchmark our solution against the following:
  • A reduction in the number of phone calls to our product experts
  • An increase in our sales teams ability to overcome objections at point of sale (leading to more conversion to business)
  • - An increase in the perception that our sales force operates true to their titles (advisor consultants)

20. The Formula Has Worked

  • The community platform will be rolled out to the Sales reps in two phases, starting in December
  • We are exploring the opportunity to leverage enterprise-wide
  • And we are uncovering social solutions to solve ourexternal problem

21. Learn From Our Mistakes

  • 1. Get dedicated time from resources to work on social - otherwise it falls behind other priorities.
  • 2. Keep teams tight - multiple meeting reschedules to try to include everyone can make a project lose inertia.
  • 3. Experimentation is the key to getting things right - not making sure what goes out the door is perfect.

22.

  • A Quick Glance At Our External Approach

23. Educating others on the external presence Number of posts that include BlackRock YTD Posts that include BlackRock

  • September 2010:
  • Month over month, Twitter (MicroMedia) is the most common venue used for talking about BlackRock.
  • Posts are generally re-tweets of mainstream news articles and occasionally blogs.

Insurance Regulators pick BLK to weigh CMBS risks Reuters: Goldman's NY prop traders in talks with KKR, Perella, BlackRock Fink gives strong third-quarter outlook BLK sees slower global econ recovery in H2 Rising costs for solar power in Germany BLK Canada launches the iShares(R) DEX HYBrid Bond Index Fund

  • 19 mentions containing Roth
  • 23 mentions of social security
  • The majority of product mentions are related global allocation

24. Weve Identified The Villain

  • Fringe players who are trying to change the way money is managed (the record labels didnt see Napster coming)
  • Competitors with thought leaders on social venues

25. And Our Social Solutions Are in Progress

  • A close connection to return on our Marketing, Sales and Servicing strategies

Keep an Eye on BlackRock in 2011! Thank You For Your Time