UK Experience with a transition to fee pitch
The Future of Financial Advice

Social Networking in Financial Services

For those struggling to employ social networking in a low involvement category (such as insurance) or one where there are some quite strict social mores around disclosure (wealth and borrowing categories) then you will be interested in anything that tackles social media issues at a conceptual rather than technical level.

This item from Nina Khosla is brief but contains some gems. Here are two:

... the paradox of the social network that no one wants to admit: as the size of the network increases, our ability to be social decreases.

Nina pins the problem of relevance, and emotional connectedness - the issues are these:

When I think about the kinds of things I tweet, they’re things like “I just read a cool article, check it out,” or “About to get on a plane,” or “GOALLLL!” if my team (the San Jose Sharks) has just scored. The thing about all these is that they’re not a shared experience

KEY: now isn't that the problem of commercial use of social networks entirely? We're sharing our experience / view with 'them' not actually describing a shared experience or view.

...whereas, when it works well, it's like this:

The conversation does not center around any one individual’s experience, but rather the collective condition of the community. The conversation is the experience. Each comment is driven with the purpose of evoking and expressing the emotions that the community experiences, and particularly the ones they hold in common.

Get there and you have an engaging social media strategy.


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