This is the first part of a three-part interview I recorded in late July 2011 with my ex-colleague Katie Doble-Birch, Senior Manager Social Media at Lloyds Banking Group.
Overall the UK banks have been busy focusing on getting rid of their internet legacy systems and haven’t really started to leverage social media in a truly meaningful way.
Except for first direct, the most recommended UK bank, which has led the way from the PR stand-point (and more recently with their latestcrowdsourcing experiment, first direct Lab) and Lloyds TSB which achieved a lot in the last 18 months especially in the customer support space on twitter with their award winning @LloydsTSBOnline, there is not much to write home about.
Of course, you find quite a few social media campaigns such as Santander Students or HSBC Students both on facebook, and other banks like Barclays has been busy gearing up and creating a framework for its 20+ twitter accounts and many other facebook pages and apps…
Social Media @ the Lloyds Banking Group
When I left my Senior Innovation job at Lloyds TSB a few years ago, the bank wasn’t doing anything in the social media space. Everybody was too busy working on the integration with HBOS and the release of the bank’s next generation of internet banking platform.
But things have changed in the last couple of years. Katie did a good job reassuring and convincing internally on the importance of social media. She stressed out how critical it was for the bank to be wherre their customers are, to have a voice and “be part of the conversation”.
As you would expect, Lloyds started to listen, then build its social media platform (on youtube and twitter mainly) to distribute its content, now the bank is willing to engage with its audience(s).
As service is the new marketing, the bank approached twitter as another customer care channel and now the group is active on two key accounts @LloydsTSBOnline and @Halifax_Online with an average of respectively 8 and 13 daily tweets.
One of the next steps for the Lloyds Banking Group is to finally build its presence on facebook. To date, Lloyds TSB launched a contest / application to connect with the brand Lloyds TSB Me (whose winning avatar still remains to be seen on a Lloyds TSB TV commercial) a page dedicated to the Olympics – London 2012 (2220 likes), a page dedicated to their ‘Local Heroes’ (380 likes), and one for Scottish Widows (665 likes) relying again on London 2012…
So you are wondering: how is the Lloyds Banking Group social media strategy articulated? How do they measure the impact of their initiatives? How supportive is the Senior Management?…
* Lloyds’ social media journey (00:14)
* 3-stage approach roadmap (00:48)
* Online reputation: noise and influencers (02:18)
* The importance of having a voice and being transparent (03:38)
* Team structure (04:41)
* Social media council (05:33)
* Size of the team (06:38)
* Measurement: Goals and KPIs (07:02)
* Overcoming key internal challenges (08:09)
* How involved is the Senior Management (09:07)
* What’s next? (10:21)
I will soon post part 2 of my video with Katie which is focused on the channels themselves like facebook or twitter. Stay tuned on Visible Banking!
In the meantime, I invite you to watch our video on the conversative UK banking industry.