Building Common Practice of Social Media Campaign for Public Awareness of Deposit Insurance Systems Prof. Dr. Louis Chen Graduate Institute of IP National Taipei University of Technology 9 April 2013
Louis Chen Education -Visiting Prof., Univ. of Cal., Berkeley & Univ. of Singapore -LL.D. Univ. of Ottawa, LL.M. Univ. of Washington Current Position Experience - Chairperson, Taiwan Broadcasting System (including 2 TV companies, 5 channels, 1 news social media) -Prof. of Law, Graduate Institute of IP, Taipei Univ. of Technology -Deputy Chair, Taiwan Corporate Governance Association Contact louislaw@ms71.hinet.net louischen088@gmail.com 2
Table of Contents Issues Factual Analyses -The Nature & Development of Social Media -Models of Using Social Media for Public Services -Social Media Campaigns Adopted by Deposited Insurers Advantages & Barriers of Using Social Media for DI Principles of Using Social Media Using Social Media for Special Occasions Conclusion and Recommendation 3
Policy Issues of Using Social Media for Public Awareness DI s Credibility: Increase or Decrease? Target audience : Only Young Generation? Long-term strategy and Roadmap? Budget? Facility and Team? Internal Research? External experts? Evaluation Methodology? Crisis Management? IADI s role for helping Deposit Insurers? 4
Table of Contents Issues Factual Analyses -The Nature & Development of Social Media -Models of Using Social Media for Public Services -Social Media Campaigns Adopted by Deposited Insurers Advantages & Barriers of Using Social Media for DI Principles of Using Social Media Using Social Media for Special Occasions Conclusion and Recommendation 5
The Genre of Social Media 1. Collaborative projects (e.g. Wikipedia) 2. Blogs and microblogs (e.g. Twitter) 3. Content communities (e.g. YouTube and DailyMotion) 4. Social networking sites (e.g. Facebook) 5. Virtual game worlds (e.g. World of Warcraft) 6. Virtual social worlds (e.g. Second Life) Based on Web 2.0 & UG content, social media creates momentous power! 6
The Nature and Development of Social Media 7
The Big ThreewCurrently Popular Social Networking These social networking sites are popular since they connect the human network between real and virtual worlds. In addition, to facilitate communication among users, they develop integrated tools such as Facebook Like button, chatting room and the application on mobile devices. The impact of social media prevails in the world. For example, up to Sep. 2012, the statistical data of Facebook was astonishing: over 1 billion users, 1.1 trillion Like buttons, 220 billion uploading photos and 70 languages available. 8
Real Time UpdateswThe Most Popular Mircoblog - Twitter For Twitter users, they communicate with each other by publishing immediate messages (known as tweets ) of up to 140 characters with pictures on Twitter. As of Mar. 2012, Twitter has 1.4 billion users, 3.4 billion comments published, and 16 billion twitter searches requested. 9
Ρew CompetitorwGoogle+ Google+ not only integrates communication tools of Google, but develops exclusive functions such as Circles, Hangouts, etc. Unlike the growing concern over Facebook privacy, Google+ users can publish their private status in selected circles of friends."" Google+ hits 20 million users in 3 weeks since its launch. Moreover, Google+ closed the invitation for signup on the 1st day to overcome the excessive number of users. 10
" Burson-Marsteller Fortune 100 Social Statistics Report (2012) 87% of the Fortune 100 now use social media with twitter the most popular 75% of the Fortune 100 are on Facebook Each corporate YouTube Channel averages 2 million views 50% of Fortune 100 Companies have a Google+ Account 25% have a Pinterest Account Fortune 100 Companies are creating multiple accounts per platform / per region 11
What Americans Do Online 12
White HousewSocial Media Hub 13
White HousewYouTube & Google + 14
White HousewMobile Apps 15
FCSC 16
FCSCwTwitter 17
FCSCwYouTube 18
FDIC 19
FDICwTwitter 20
JDICwFacebook 21
CDIC(Taiwan) - Multi-media Internet Cell phone text messages Magazines Radio Multi-media Television Newspaper 22
Most Effective Media in Taiwan (Tools) (% of source of deposit insurance information) Source : 2011 public awareness on CDIC and deposit insurance survey 23
Taiwan: CDIC 24
South Korea CasewKDIC s Social Media KDIC uses social media positively to have an in-depth interaction with customers. KDIC s social media: Facebook official fan club, Naver Blog and Twitter. KDIC s social media? Daily greetings (e.g. special festival greetings, recommend other related issues) Introduce financial and economic terms KDIC s information, announcement, staff recruiting Events (fans can leave comments or tag friends to win an ipad) News, financial analysis Other event record, staff s reflection You can link to mobile version s tutorial, Facebook, Twitter and Naver Blog through KDIC official website 25
South Korea CasewKDIC Official Blog and Twitter 26
KDIC: Mobile Social Media Encourage to use KDIC s mobile version site, urge customers to scan QR code to get latest information everywhere all the time. 27
KDIC: Facebook Club Introduce financial and economic terms: post on Facebook and Blog to enhance people s financial knowledge. KDIC s official FB fan club: highly interactive 28
KDIC: More Fans to Get ipad Launch a campaign of publicity, fans can win an ipad by tagging three of their friends on the photo. KDIC successfully runs their FB fans Club. Fans can actively leave messages for salutation, and create good interaction. 29
KDIC: Animation, Blog & FB KDIC uses different social media and link together to get the most effective result of publicity. e.g. Put Naver Blog s website address on Facebook page to raise coverage. 30
Table of Contents Issues Factual Analyses -The Nature & Development of Social Media -Models of Using Social Media for Public Services -Social Media Campaigns Adopted by Deposited Insurers Advantages & Barriers of Using Social Media for DI Principles of Using Social Media Using Social Media for Special Occasions Conclusion and Recommendation 31
Cf xcpvci "Wukpi gu"qh "Uqekcn"Ogf " kc"h 32
The Opportunity for DI - maximize public outreach Two-way Active Communication vs. One-way Passive Information Human Relationship vs. Propaganda Regional vs. Global Time Limits vs. Updating and Immediate Brand Management Tool Create Ambassadors Authentic and Transparent Deal with Collaborative Creative Class and Collective Intelligence Leaders 33
The Opportunities of Using Social Media for Public Awareness 34
Inherent Barriers to the Use of Social Media for Deposit Insurance Policy Informatics 35
Inherent Barriers to the Use of Social Media No quantifiable outcome in short term Uncountable cost and return on time investment Technology Developments: Facebook vs Myspace Product Quality Elder users Spam on Social Media Bureaucracy Constant Turnover of Responsible Officers Year-to-year Budget Control 36
Table of Contents Issues Factual Analyses -The Nature & Development of Social Media -Models of Using Social Media for Public Services -Social Media Campaigns Adopted by Deposited Insurers Advantages & Barriers of Using Social Media for DI Principles & Roadmap of Using Social Media Using Social Media for Special Occasions Conclusion and Recommendation 37
The Principles and Advice for Using Social Media 38
The Principles and Advice for Using Social Media Think who are your major subscribers (Age:18-35) - Show information by images, charts or videos, to encourage to share information Make important things interesting by combining serious data with interactive, funny stuff Speak to users in a human language rather than an official one Answer questions immediately or tell users where to write or call to receive a quick answer Update the page frequently Help users to share news on their own pages (User Generated Content) Stick to ethical norms to keep polite and friendly Sustain Attention: It is difficult to earn sustained attention of users among large information on social media. Let users know their rights and let users earn by organizing more promotional activities to attract fans (e.g. scan QR code to get preference) 39
Roadmap for Social Media Campaign Social Media Performance KPI STEP4to measure a long term result, company could design a questionnaire to investigate customers knowledge about deposit insurance, in order to realize whether social media publicity was successful or not. STEP3 after accumulating fans number, it should increase involvement to encourage discussion and raise coverage. STEP2 number of fans achieve a certain scale. (local government agencies fan club about 2~500 fans, national agencies fan club about 2000 likes, so 2000 fans is a minimum threshold.) STEP1 to attract users to use/join, Deposited Insurers should offer abundant and immediate information, so it is necessary to make standard about the frequency of new post. 40
Table of Contents Issues Factual Analyses -The Nature & Development of Social Media -Models of Using Social Media for Public Services -Social Media Campaigns Adopted by Deposited Insurers Advantages & Barriers of Using Social Media for DI Principles & Roadmap of Using Social Media Using Social Media for Special Occasions Conclusion and Recommendation 41
Using Social Media for Special Occasions 42
The Case of Inspired by Iceland Iceland Government uses social media to rebuild national economy. Iceland wants to be your friend Program Inspired by Iceland Project New Constitution: Consult opinions of all parties through social media, Facebook, Twitter, Flicker and YouTube Solve problem: Using social media to assemble people s opinions and solve problem when crisis occurs 43
Table of Contents Issues Factual Analyses -The Nature & Development of Social Media -Models of Using Social Media for Public Services -Social Media Campaigns Adopted by Deposited Insurers Advantages & Barriers of Using Social Media for DI Principles & Roadmap of Using Social Media Using Social Media for Special Occasions Conclusion and Recommendation 44
Recommendation for Public Awareness Guidance 45
Social Media for DI Now and Future Important for the Effectiveness of DIS to Sustain Confidence Critical for DI s Brand Value DI s Corporate Social Responsibility Risk Control of DI s Reputation and Services IADI S Next Step: Establish KPI/Checklist and SOP for Helping DI to Monitor Public Awareness Levels and Perception of DIS 46
Thank You for Your Attention Louis Chen louislaw@ms71.hinet.net louischen088@gmail.com