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Social Media and Marketing
The changing paradigm
Wait a minute…..




I learned how to use Windows, eMail and the Web. Then I had to learn
  how to use my PDA, which I still can’t get to work right, now I have to
                     learn about social media ?
Well there’s a lot of buzz around
social media lately but…




       It’s less important to older Web users who have a lot
                        of disposable income.
And older Web users are less
likely to use social media

                                     Millennials
    Gen‐X
        Boomers
         Matures
     Total

                                      (13‐24)
      (25‐41)
        (42‐60)
        (61‐75)

 Socializing
via
social
network
        78%
         60%
             38%
            23%
       54%

 sites,
chat
rooms
or
message

 boards

 Maintaining
a
profile
on
a
social
      71%
         51%
             30%
            10%
       45%

 network
site

 ParEcipaEng
in
virtual
worlds
         21%
         36%
             35%
            10%
        2%




 There
is
a
direct
correlaEon
between
social
media
use
and
age:
older
Web
users
are

 sEll
learning
about
social
media
and
are
slower
to
adopt
new
technology


 Younger
people,
however,
tend
to
be
more
wired
and
use
social
media
on
a
variety

 of
devices
including
PDA’s
like
the
iPhone


                                                      Source:
eMarketer,
n=2,081
January
2008

Yet strong growth in social
media is forecasted




                       With penetration of social media so high in
                       younger age groups most of the growth will
                       come from older web users who are not as
                       fast to adopt new technology
but media executives still believe
social media is overhyped




            In the Fortune 300 today, only 15
         percent of CEOs are below 50. Maybe
         they don’t understand the importance
             of social media and marketing.
And spending on social
media is anemic

     US
Online
Social
Network
Ad
Spending,
2006‐1012
(millions

                and
%
of
total
US
online
ad
spending


                           2006
   2007
   2008
    2009
    2010
     2011
      2012


      Social
network
ad
   $350
   $920
   $1430
   $1815
   $2085
   $2360
     $2610

               spending

   TOTAL
ONLINE
SPEND
 $16,900
 $21,100
 $25,900
 $30,000
 $35,000
   $41,000
   $51,000


    %
Social
Network
of
   2.1%
   4.4%
    5.5%
   6.0%
    6.0%
     5.8%
      5.1%

                  total



    If
it
is
a
marketers
job
to
“go
where
the
eyeballs
are”
then
spending

                            on
social
media
is
anemic

Larger organizations are also
having a hard time changing
             Social
Media
TacMcs
Used
by
US
Marketers

                     Small
and
Large
Companies



   35.00%

   30.00%

   25.00%

   20.00%

   15.00%

   10.00%

    5.00%

    0.00%

               RSS
Feed
         Blogs
       Social

                                             Network


                   Small
Comp
      Large
Comp

But marketers have to
communicate that marketing
has changed
•    Markets are no longer bulls-eye, demographics based islands, easily targeted.
     Every market (and anyone offering anything online has a market), is composed of
     dynamic humans involved in instantaneous dialogue a million times over. Shift your
     mindset by opening up your market research to data that is not just statistical, but
     logical and intuitive. Behaviors and connections are the important things now.
•    Marketing is no longer controlled by companies, it’s controlled by the market, as a
     whole, and everyone in it, simultaneously. Your market is no longer accepting the
     same pitch, delivered in the same manner. It’s about two-way conversation,
     connecting at a deeper level than your value proposition. Understand that it’s now
     on your markets’ terms when, how, and why you communicate with them.
•    Participating in a conversation is not the same as “hyped-up-copy,” stop insulting
     your market. Realize this - indirect communication, over-communicating, scarcity
     tactics, and flat out hyping things up - no longer work.
•    How you measure success and failure has changed dramatically. Changes this
     large, create a need to re-evaluate how you measure and track, how you
     measure success, and even how you compile information.
•    The old mindsets regarding metrics and analytics as applied to ROI have to be
     adjusted or you’ll never make good marketing decisions. Time to measure
     qualitative brand attributes not quantitative.
And they have to do a better
job with Web analytics




    There
is
no
one
metric
that
can
give
you
the
informaEon
you
need
on
your

   customers
but
together
a
number
of
metric
soluEons
can
give
you
a
wealth
of

             informaEon
as
to
what,
when
and
more
importantly
why.

Because most senior managers
don’t understand Web metrics
•    The top line measurement of Web analytics should always
     be against business objectives, however all business
     objectives are not quantifiable when you’re using social
     media as a key brand touch point.
•    How do you measure a positive customer experience in a
     social media site? What can happen if a customer relates
     a negative brand or company experience on social
     media?
•    Web dashboards have to have more than numbers, they
     have to tell a story with insights and recommendations.
     –  For example, an example of paths through the site can give
        you real insights into the purchase decision behavior of your
        audience.
•    Analysis on “cost per targeted actions” can also reduce
     search engine marketing budgets so that you can focus on
     drivers of business objectives.
Speed is a competitive
advantage on the Web
•    Slow costs more. Every minute you can take out of manufacturing
     time, stocking time, get-to-market time, and customer response time
     saves the company money.
•    Speed is the ultimate customer turn on. Everyone is short of time. We
     hate delays, long lines, out-of-stocks. We love finding what we want
     and getting back to work (or play) fast. And we'll pay for speed.
•    Speed is the one advantage that big competition can't duplicate
     easily. Big companies are bureaucratic, dysfunctional, and self-
     absorbed. They don't listen, they are slow to change, and they kill
     momentum and initiative.
•    The Internet is all about speed; “instant gratification takes too long”
•    Customers want responses in minutes, not hours or days.
•    Social media is hot NOW and companies that are experimenting with
     social media may be better positioned to use it for marketing as it
     continues to evolve.
As marketing budgets shrink more
dollars are going to online
but the days of paying for clicks
and impressions are over
•    Clicks on internet ads don’t measure all of a campaign’s sales
     impact nor the cumulative (latent) impact of ads. They also don’t tell
     you anything about brand building effects and the Internet ads as
     we once knew them may be a relic of the past.
•    It’s now about a specific action that you want your audience to take
     on your Website to help meet business objectives and measuring
     specific programs.
•    Don’t use reach and frequency as applied to the Web, that is taking
     old models for new media and doesn’t work.
•    Move from selling online to having a conversation online around the
     brand.
•    If you continue to ignore conversations with your audience you
     better have damn great products and brand equity.
So are CMO’s dumb
or waiting for proven ROI ?




•    Despite the cultural phenomenon that Facebook and MySpace have become in
     five years’ time, 55% of the chief marketing officers at leading brands surveyed by
     Epsilon said they’re not too interested (22%), or not interested at all (33%), in
     incorporating the social networking sites into their marketing strategies.
•    CMOs bracing for budget reductions identified email as the channel they are least
     likely to cut back on versus any other tool in the traditional or digital marketing mix.
•    While just over half of the companies surveyed already use consumer data mining,
     23% more said that they plan to utilize the technology in the next 12 months. 55% of
     those not already employing web analytics plan to do so in the next 12 months.
•     Customer loyalty and rewards programs remain polarizing, with 33% of companies
     already using the strategy and 17% planning to use in the next year, but 50% not
     using or planning to use.
Traditional marketing channels
are being hurt by social media
•    More than a third -- 38% -- of all 12-to-64-year-olds online in the U.S.
     indicate that they regularly use social networks. And it's not just the
     younger population using them. A third of women ages 35 to 44, for
     example, reported that they regularly use the sites.
•    Over 25% of those using social-networking sites indicated that their TV
     viewing is being cannibalized. Even if it is a small amount of time, with
     the large numbers of people involved, this can add up to a lot of TV
     viewing hours.
And using traditional ads
on social media doesn’t work




•    Social media sites are trying to find a model to get profitable but its users
     will determine what works and what does not and click ads won’t work.




•    When Facebook redesigned their site millions of users protested and
     petitioned to change it back to the older interface.
So then what’s a emarketer
to do?
•    First stop thinking about marketing in terms of old media (impressions,
     reach, frequency). Think about the changes that have taken place
     within the marketing environment.
•    Communicate the changes to senior managers and influencers but lead
     them down the path to come to the conclusion that the Web is where
     you want your brand to be.
•    Start building capabilities now to handle back end social media branding
     efforts. Learn NOW from mistakes not later when it’s too late and your
     competitors are already there.
•    Expand Web analytics and ensure that you present insights as to what is
     happening on the Web and why and what your brand can do to
     capitalize on the Web and social media.
•    Stop thinking that you need a company or branded Website. It takes a
     lot of resources to build and maintain a branded website. Could dollars
     be better spent on social media platforms?
•    Learn to listen..it’s about a conversation. How would you feel if someone
     tried to sell you something while you were talking to a bunch of your
     friends?
Finally…..




Sitting on the sidelines and watching social media could hurt your brand
         at at time when it’s harder and harder to win customers

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Social Media Marketing

  • 1. Social Media and Marketing The changing paradigm
  • 2. Wait a minute….. I learned how to use Windows, eMail and the Web. Then I had to learn how to use my PDA, which I still can’t get to work right, now I have to learn about social media ?
  • 3. Well there’s a lot of buzz around social media lately but… It’s less important to older Web users who have a lot of disposable income.
  • 4. And older Web users are less likely to use social media Millennials
 Gen‐X
 Boomers
 Matures
 Total
 (13‐24)
 (25‐41)
 (42‐60)
 (61‐75)
 Socializing
via
social
network
 78%
 60%
 38%
 23%
 54%
 sites,
chat
rooms
or
message
 boards
 Maintaining
a
profile
on
a
social
 71%
 51%
 30%
 10%
 45%
 network
site
 ParEcipaEng
in
virtual
worlds
 21%
 36%
 35%
 10%
 2%
 There
is
a
direct
correlaEon
between
social
media
use
and
age:
older
Web
users
are
 sEll
learning
about
social
media
and
are
slower
to
adopt
new
technology
 Younger
people,
however,
tend
to
be
more
wired
and
use
social
media
on
a
variety
 of
devices
including
PDA’s
like
the
iPhone
 Source:
eMarketer,
n=2,081
January
2008

  • 5. Yet strong growth in social media is forecasted With penetration of social media so high in younger age groups most of the growth will come from older web users who are not as fast to adopt new technology
  • 6. but media executives still believe social media is overhyped In the Fortune 300 today, only 15 percent of CEOs are below 50. Maybe they don’t understand the importance of social media and marketing.
  • 7. And spending on social media is anemic US
Online
Social
Network
Ad
Spending,
2006‐1012
(millions
 and
%
of
total
US
online
ad
spending
 2006
 2007
 2008
 2009
 2010
 2011
 2012
 Social
network
ad
 $350
 $920
 $1430
 $1815
 $2085
 $2360
 $2610
 spending
 TOTAL
ONLINE
SPEND
 $16,900
 $21,100
 $25,900
 $30,000
 $35,000
 $41,000
 $51,000
 %
Social
Network
of
 2.1%
 4.4%
 5.5%
 6.0%
 6.0%
 5.8%
 5.1%
 total
 If
it
is
a
marketers
job
to
“go
where
the
eyeballs
are”
then
spending
 on
social
media
is
anemic

  • 8. Larger organizations are also having a hard time changing Social
Media
TacMcs
Used
by
US
Marketers
 Small
and
Large
Companies
 35.00%
 30.00%
 25.00%
 20.00%
 15.00%
 10.00%
 5.00%
 0.00%
 RSS
Feed
 Blogs
 Social
 Network
 Small
Comp
 Large
Comp

  • 9. But marketers have to communicate that marketing has changed •  Markets are no longer bulls-eye, demographics based islands, easily targeted. Every market (and anyone offering anything online has a market), is composed of dynamic humans involved in instantaneous dialogue a million times over. Shift your mindset by opening up your market research to data that is not just statistical, but logical and intuitive. Behaviors and connections are the important things now. •  Marketing is no longer controlled by companies, it’s controlled by the market, as a whole, and everyone in it, simultaneously. Your market is no longer accepting the same pitch, delivered in the same manner. It’s about two-way conversation, connecting at a deeper level than your value proposition. Understand that it’s now on your markets’ terms when, how, and why you communicate with them. •  Participating in a conversation is not the same as “hyped-up-copy,” stop insulting your market. Realize this - indirect communication, over-communicating, scarcity tactics, and flat out hyping things up - no longer work. •  How you measure success and failure has changed dramatically. Changes this large, create a need to re-evaluate how you measure and track, how you measure success, and even how you compile information. •  The old mindsets regarding metrics and analytics as applied to ROI have to be adjusted or you’ll never make good marketing decisions. Time to measure qualitative brand attributes not quantitative.
  • 10. And they have to do a better job with Web analytics There
is
no
one
metric
that
can
give
you
the
informaEon
you
need
on
your
 customers
but
together
a
number
of
metric
soluEons
can
give
you
a
wealth
of
 informaEon
as
to
what,
when
and
more
importantly
why.

  • 11. Because most senior managers don’t understand Web metrics •  The top line measurement of Web analytics should always be against business objectives, however all business objectives are not quantifiable when you’re using social media as a key brand touch point. •  How do you measure a positive customer experience in a social media site? What can happen if a customer relates a negative brand or company experience on social media? •  Web dashboards have to have more than numbers, they have to tell a story with insights and recommendations. –  For example, an example of paths through the site can give you real insights into the purchase decision behavior of your audience. •  Analysis on “cost per targeted actions” can also reduce search engine marketing budgets so that you can focus on drivers of business objectives.
  • 12. Speed is a competitive advantage on the Web •  Slow costs more. Every minute you can take out of manufacturing time, stocking time, get-to-market time, and customer response time saves the company money. •  Speed is the ultimate customer turn on. Everyone is short of time. We hate delays, long lines, out-of-stocks. We love finding what we want and getting back to work (or play) fast. And we'll pay for speed. •  Speed is the one advantage that big competition can't duplicate easily. Big companies are bureaucratic, dysfunctional, and self- absorbed. They don't listen, they are slow to change, and they kill momentum and initiative. •  The Internet is all about speed; “instant gratification takes too long” •  Customers want responses in minutes, not hours or days. •  Social media is hot NOW and companies that are experimenting with social media may be better positioned to use it for marketing as it continues to evolve.
  • 13. As marketing budgets shrink more dollars are going to online
  • 14. but the days of paying for clicks and impressions are over •  Clicks on internet ads don’t measure all of a campaign’s sales impact nor the cumulative (latent) impact of ads. They also don’t tell you anything about brand building effects and the Internet ads as we once knew them may be a relic of the past. •  It’s now about a specific action that you want your audience to take on your Website to help meet business objectives and measuring specific programs. •  Don’t use reach and frequency as applied to the Web, that is taking old models for new media and doesn’t work. •  Move from selling online to having a conversation online around the brand. •  If you continue to ignore conversations with your audience you better have damn great products and brand equity.
  • 15. So are CMO’s dumb or waiting for proven ROI ? •  Despite the cultural phenomenon that Facebook and MySpace have become in five years’ time, 55% of the chief marketing officers at leading brands surveyed by Epsilon said they’re not too interested (22%), or not interested at all (33%), in incorporating the social networking sites into their marketing strategies. •  CMOs bracing for budget reductions identified email as the channel they are least likely to cut back on versus any other tool in the traditional or digital marketing mix. •  While just over half of the companies surveyed already use consumer data mining, 23% more said that they plan to utilize the technology in the next 12 months. 55% of those not already employing web analytics plan to do so in the next 12 months. •  Customer loyalty and rewards programs remain polarizing, with 33% of companies already using the strategy and 17% planning to use in the next year, but 50% not using or planning to use.
  • 16. Traditional marketing channels are being hurt by social media •  More than a third -- 38% -- of all 12-to-64-year-olds online in the U.S. indicate that they regularly use social networks. And it's not just the younger population using them. A third of women ages 35 to 44, for example, reported that they regularly use the sites. •  Over 25% of those using social-networking sites indicated that their TV viewing is being cannibalized. Even if it is a small amount of time, with the large numbers of people involved, this can add up to a lot of TV viewing hours.
  • 17. And using traditional ads on social media doesn’t work •  Social media sites are trying to find a model to get profitable but its users will determine what works and what does not and click ads won’t work. •  When Facebook redesigned their site millions of users protested and petitioned to change it back to the older interface.
  • 18. So then what’s a emarketer to do? •  First stop thinking about marketing in terms of old media (impressions, reach, frequency). Think about the changes that have taken place within the marketing environment. •  Communicate the changes to senior managers and influencers but lead them down the path to come to the conclusion that the Web is where you want your brand to be. •  Start building capabilities now to handle back end social media branding efforts. Learn NOW from mistakes not later when it’s too late and your competitors are already there. •  Expand Web analytics and ensure that you present insights as to what is happening on the Web and why and what your brand can do to capitalize on the Web and social media. •  Stop thinking that you need a company or branded Website. It takes a lot of resources to build and maintain a branded website. Could dollars be better spent on social media platforms? •  Learn to listen..it’s about a conversation. How would you feel if someone tried to sell you something while you were talking to a bunch of your friends?
  • 19. Finally….. Sitting on the sidelines and watching social media could hurt your brand at at time when it’s harder and harder to win customers