LOMBARD, Ill.—Big social media data is changing the marketing and communications landscape, not just for FIs but for all businesses, insists one analyst who says using it effectively also means walking a “fine line” between helping consumers and being intrusive.
That’s advice from Dr. Jennifer Golbeck, who will be speaking during the inaugural Raddon Research Conference, set for Nov. 6–8, 2017 at the Hyatt Regency Chicago.
As the director of the Social Intelligence Lab at the University of Maryland, Golbeck—a world leader in social media research—studies how people use social media and thinks about ways to improve their interactions.
“In my session I will be painting a picture of what big social media algorithms can do as they merge into the market, and then talking about how this can be used in really helpful and positive ways—but avoiding making people upset or feeling violated in some way by the information you have about them. You do have to walk a fine line here,” said Golbeck.
Don't 'Spy'
Golbeck gave the example of Netfilx recommending a movie, which most people would not find intrusive, and compared it to a new doctor’s office suddenly recommending medication for a condition.
“A doctor in a mailing tells you about a condition you are at risk for, a condition you did not know you had-–that is creepy and intrusive,” said Golbeck. “So while credit unions can really help their members by using big social media data to make even better recommendations for their financial lives, they have to be careful. You don’t want people thinking you are spying on them.”
Golbeck’s keynote session on big social media data is just one of many topics that will be covered during the three-day meeting that also presents great networking opportunities.
The meeting, said Bill Handel, VP of research and product development at Raddon, is designed for attendees to pick and choose what meets their needs and interests. Topics will also cover Big Data, new Generation Z research, “Stimulating Growth in Today’s Lending Market,” “Leveraging Your Investment in Mobile Banking” and “Benchmarking Your Brand.”
The new conference, said Handel, is a forum to share and discuss the latest consumer and small business research findings as well as their practical application through marketing and business strategies. The event will feature Raddon analysts, as well as nationally recognized speakers.
Interactive Meeting
“We have purposely designed our sessions to be very interactive,” said Handel. “We are looking for the audience to tell us about their experiences to either support the research or even to refute it if that happens to be the case.”
“The Raddon Research Conference is an excellent networking opportunity for bank and credit union CEOs, product development specialists, and research and marketing experts,” said Raddon Senior Research Analyst Andrew Vahrenkamp. “This is new and unique and will be really powerful. It’s a fascinating way for people to get together and see what is happening in the industry—not just in terms of what financial institutions are doing, but also what consumers are thinking and what banks and credit unions can do to take advantage of that.”
For more information on the meeting, speakers and to register, click here.