Exploiting Digital & Social Media

The major impacts of web and e-commerce have superseded by the significant changes in consumer behaviours and expectations wrought by the growth of digital communication channels. These changes have begun to largely dictate how brands interact with consumer and how that relationship is now shaped and grown.

The consumer now communicates and shares information, personal and commercial, 24/7 via a multitude of devices and the power is in the consumer's hands. Their ability and willingness to publicly evaluate, comment on and rate interactions with businesses is both a huge challenge and opportunity for brands and one they cannot ignore.

Equally, and arguably, more importantly how consumers find brands and what they demand of them has changed significantly. Whilst pure transactional /price driven interactions are still highly prevalent increasingly consumers are looking to do business with orgnisations that are willing and capable of building an emotional relationship based upon engagement.

So what does this mean? It means that consumers want to share and engage with brands above and beyond pure products, they want to contribute and comment, they want to be listened to and they want to link with like-minded individuals.

Such behaviours have become common across a number of industries and it is vital for Financial Services companies to recognise and respond to this almost universal trend. Any ‘Direct to Consumer' ambitions will need to be predicated on an in-depth understanding of this changed consumer zeitgeist, its implications for the organisation and a cost effective means to delivery.

At Sopica we have been tracking the emergence of these trends in other industries and have worked with FS organisations to develop and deliver engagement-led customer strategies and consumer communities. Our skills and experience include: 

• Supporting, guiding and leading the development of client's thinking on digital engagement from concept to definition

• Platform technology and infrastructure for digital projects

• Creating a Consumer Engagement distribution strategy utilising digital communications and social media

• Business case development including assessment of the implications for the existing organisation and distribution channels

• The creation of a delivery programme to include a launch and learn approach utilising agile design and development.  This includes the identification of the correct approach to such a development, e.g. Skunkworks, integrated, semi-intergrated etc  

• Consumer Community rationale, design, development & monetisation

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