the Power hour
mBe 2011 Power Hour: a twitter thing
Social media is the buzz-word this year but it’s a daunting prospect for many people who don’t know the difference between Twitter, Facebook and LinkedIn, let alone how to use them to generate business. But don’t despair, our panel of experts is here to help
Sarah DaviDSon: What Do We mean by Social meDia? Andrew Montlake: Social media means something different to everyone. It’s how you choose to use it and how it works for you. It’s difficult to set down absolute rules on how you use Twitter or how you use Facebook, this is your strategy going forward which is going to work for every single business. Every single business is different, every person is different. It’s a communication tool which is the best way of looking at it. Mike Raybone: It’s a word of mouth producer but on steroids. If I was to communicate to each of you here in an outbound way, it would be a direct form of communication. If I put myself out there in the social media space, I would get all sorts of inbound communication coming towards me which I couldn’t predetermine. As a result the scope for
that word of mouth and that interaction is on a massively greater scale. Michael Coogan: Most of the tools that have been touched upon have been primarily designed for interaction at a personal level with people as opposed to with a business focus specifically and the real challenge is to find something with a broader purpose narrowed down and tailored for business purposes to avoid too much noise coming back wasting your time as opposed to the responses you’re looking for. It’s translating what you want in terms of the information you’re communicating to the people you want to communicate with and get them to actually receive return on the message and deliver business benefits that you can measure. And that’s not social media that’s actually business media being used in a social context. Marco Callegari: I think that’s absolutely right. Facebook is the perfect example of that because the founder has always tried not to commercialise it up till now and now everybody is thinking, “I need a business page on there,” “I need to get people to like my business and follow me,” so then you can eradicate a lot of email marketing which is becoming more difficult
40 mortgage introducer JULY 2011
and you can use Facebook and Twitter and other forms of social media to then communicate out on a bigger and more cost-effective scale. Jeff Knight: The first question you ask is why? Why should I be using this? If you start to use it totally blind you could get yourself in all sorts of trouble really. You’ve got to have a purpose behind it. You’ve got to have time for it. Alison Beech: Well we learn as we go along don’t we? I am. JK: With Twitter you’ve got to think about what you’re going to say. Lea Karasavvas: For me the role of the broker changed and the best way for me to target my clients was through social media. In the past the phone was ringing, you’d pick it up and you’d be inundated with calls. That stopped in 2008 and you’ve got to find a new way of reaching your clients and social media is the way I went and it has worked quite well. I think a lot of people are put off by the Financial Services Authority stance on it. That puts a big haze around the whole thing and once that’s addressed by the FSA and people really know what the regulation is on it and how it can be used, you’ll really see a lot more people using social media.
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