NACCM 2010: Opening Doors with your VIP Customers: Scottrade Empowers VIPS

Presenter: Nina Card, SCOTTRADE INC.

Summary of Scottrade community:
-Scottrade needed to educate people on how to better use their tools in order to make their experiences better than they currently were
-Reached out to achieve a voice of the customer for this
-Community Members engaging in the group logged in more than the control group, as well as increased the number of trades they were performing compared to the control group, Community members were 4x more profitable than non community members on Scottrade.
-Lurkers are just as important, because they're the ones observing and getting their questions answered because they are finding their questions online

Not every lurker will be a contributor, not every lurker will contribute. How do we engage them?
- Scottrade works on individually reaching out to customers based on their profiles, build culture of caring. This builds the loyalty for your brand

To increase participation, they engage more VIPs, who will in contribute to the Scotrade groups
-How? They celebrate with your top contributors. Share new innovations, and collect their feedback.
-Example: launched new Mobile site, but consumers wanted an App. VIPs also turned into ambassadors when regulation sets into the way the online webpage works.

When interacting, make sure that you always end in a question to encourage more participation.

Companies shouldn't avoid conflicts online. Hit them head on, control those conversations. VIPs know they are VIPs, but the community around them does not know. It's a private community group. This helps increase their participation