Social media, digital consumers and platforms<br />Elaine Doherty – UK Innovation<br />
Digital is changing everything<br />Work<br />Leisure<br />Travel<br />Shopping<br />Love<br />Social<br />The world as I write this will be very different from the world as you read this!<br />
No. 3<br />What is Social Media & Is Social Media a fad.........<br />Footer appears here<br />Social media uses Internet and web-based technologies to transform broadcast media monologues into social media dialogues<br />We don’t have a choice on whether we DO social media, the question is how WELL we do it. Erik Qualman May 2010<br />http://www.youtube.com/watch?v=lFZ0z5Fm-Ng&feature=related<br /> Blank:<br />http://www.youtube.com/watch?v=gwaX40EnUdM&NR=1<br />
Drivers<br />Cloud services:<br />Cloud services delivering capacity on demand on a pay-per-use basis.<br />Mobile:<br />Devices with sophisticated browsers and broadband services enabling us to share multimedia content.<br />Power to the people:<br />Anti establishment/corporate and political spin<br />Sense of belonging:<br />Globalisation, lack of community, smaller families, reduced religious beliefs<br />Internet access:<br />The adoption of internet services and broadband within homes, businesses and schools.<br />Web 2.0:<br />Describes almost any site, service or technology that promotes sharing, collaboration and customization. <br />No. 4<br />
hello….we’re already here!<br />44<br />38<br />Largest growing segments on facebook over 45’s<br />No. 5<br />
Drivers: consumer behaviour (UK)<br />‘Smartphone’<br />‘Useful’<br />‘Usability’<br />‘Value’<br />UK government & OFCOM media literacy study<br />
Resulting in...........convergence culture<br />Convergence <br />Culture<br />Participation <br />Culture<br />Spectator <br />Culture<br />Passive<br />Reception<br />Involvement in a production ecosystem <br />Being connected to larger world<br />
Convergence culture<br />“the relationship between three concepts -- media convergence, participatory culture, and collective intelligence.“<br />“Convergence is more than just a technological shift. Convergence alters the relationship between existing technologies, industries, markets, genres and audiences… Keep this in mind: convergence refers to a process, not an endpoint” <br />Henry Jenkins Convergence Culture - MIT<br />
Consumers’ increasing influence over your brand
Dramatically changing consumer behaviour</li></ul>Consumer recommendations good and bad (**90% trust friend recommendations)<br />Web<br />Mobile product search, purchases<br />Location sensitive promotions and recommendations<br />Some of the challenges<br />** Nielsen : 90% friends, 70% consumer posted recommendation (25K consumers 50 countries - 2009)<br />
How can social media help<br />1<br />5<br />TrustBuild trust through engagement and education<br />Promote product and services<br />More targeted promotion based upon an individual’s needs.<br />2<br />6<br />Build brandThrough consistent, multichannel customer engagement. Engage customers where they live social media wise, create brand advocates.<br />More effective marketing campaignssentiment monitoring tools can track both social and traditional PR and marketing campaigns can be monitored. Drive web traffic. Stem negative publicity. Market research. Competitive intelligence<br />3<br />Discussion, not only informationGetting involved in discussions is more effective <br />than offering solely branded content.<br />7<br />InnovateSocial media discussions spark ideasfor innovative new products/services. Engage customers and consumers in new product/service design<br />4<br />Improve customer serviceengage disgruntled customers near real time<br />No. 11<br />
Social Media ROI<br />Footer appears here<br />The most engaged brands on social media experienced revenue growth in 2009 of 18%, whilst the least engaged brands experienced losses of 6% over the same period. <br />BusinessWeek top 100 brands – June 2010<br />
No. 13<br />First National Bank of Omaha (FNBO) and First Direct<br />Footer appears here<br />FNBO an online-only bank, encouraged customers to utilize the ease of transferring balances online to maximize the interest they earn on the money in their bank accounts via an innovative social media marketing campaign called the pay yourself first challenge. <br />The campaign helped customers develop a personalised saving plan<br />FNBO utilized a number of different social media outlets, including YouTube, Facebook, Twitter, MySpace, iTunes and blogging to get the word out.<br />
What can it do for businesses?<br />Generate revenues<br />Promote product & monitor<br />Monitor campaign effectiveness<br />Promote innovation<br />Build & manage brand<br />Create brand advocates <br />Customer & competitor market research<br />Optimising customer service<br />Stem negative publicity<br />Engage with customers<br />Reward customers<br />Customer management<br />Recruitment<br />Social media as a channel B2C<br />90% friends, 70% consumer posted recommendation <br />(Nielsen July 2009: 25K consumers 50 countries July 2009)<br /><ul><li>The most engaged brands on social media experienced revenue growth in 2009 of 18%, whilst the least engaged brands experienced losses of negative 6% over the same period. </li></ul>source: BusinessWeek top 100 brands<br /><ul><li>Dell launched a customer community – IdeaStorm. Has generated close to 10,000 ideas and more than 80,000 comments.
The Fiskar community has significantly reduced Fiskars’ advertising expenses, generates 13 new product ideas a month, and increased sales 300% — all for a 360 year-old brand. http://www.fiskateers.com/</li></li></ul><li>What can it do for businesses?<br />Generate Leads<br />Promote product<br />Monitor Marketing/PR effectiveness<br />Demonstrate thought leadership<br />Awareness <br />Customer & competitor market research<br />Optimising customer service<br />Stem negative publicity<br />Engage with customers<br />Engage partners<br />Reward customers<br />Recruitment<br />Social media as a channel B2B<br /><ul><li>Customer engagement & reward:
Breaking point – network equipment testing system provider - within 6 months inbound leads, web traffic and followers and members all increased 155% increase in unique web visits, doubled inbound leads, pipeline: 75% marketing influenced inbound web</li></li></ul><li>Social media strategy<br />
Key questions to ask yourself..........<br />Do we have a social media strategy..................?<br />Social media is a key channel for any consumer facing business, it is also a key communication channel thus a comprehensive strategy and implementation plan should be put in place to reap the rewards<br />Do we have a social media policy for employees? <br />This is a priority and should be standard part of every company's employment agreement. The policy outlines what is acceptable behaviour when employees engage in social media, particularly when their social media profiles link back to the company or when they are talking about their work. <br />Are we using sentiment analysis / listening <br />Listening is important for many reasons, but most of all it helps you identify if and when a rumour or issue about your business takes off online. <br />Are we training our people? <br />Staff training is one of the most important ways to build understanding of social media. Whether it's inviting in a blogger or social media marketer to speak at a lunchtime session, or developing an official program<br />Do we have a digital crisis plan? <br />If your company is confronted with a crisis, you don't want to be fiddling around trying to find the username for Facebook, Twitter , how quickly could we update the Web site? Or figuring out who's in charge Who is going to be commenting on the company's behalf? <br />What shows up when you Google the names of your C-levels? <br />Google is the first stop for most people when they go online, so what appears in the top 10 results is as important as what's displayed on your company's homepage. <br />No. 17<br />
High level engagement model – it is iterative!<br />Engage in social media by usingall channels<br />Prior to engagement: Development of a social media strategy including, sentiment analysis & comprehensive engagement plan<br />Proactively introduce content via a number <br />of channels or <br />introduce additional <br />brand or products<br />4<br />engage<br />3<br />Point to interesting content<br />Incorporate in marketing<br />grow<br />Maturity level<br />Follow social media debates, track relevant channels, people, topics<br />2<br />share<br />1<br />Monitor & follow<br />t<br />Social media study@BI<br />Always be monitoring and measuring<br />
What are the benefits?<br />Delivers a personal, consistent cross-channel customer experience resulting in:<br /><ul><li>Increased revenues – drives traffic; delivers targeted personalised campaigns & offers; drives loyalty & repeat spend
Decreased costs – maximise marketing effectiveness; reduce cost of supporting customer complaints/enquiries; reduce cost of customer acquisition & retention
A better customer experience – creates loyalty & a more interactive relationship to create “engaged” customers; differentiates brand
Better product design – highlights new products, markets & campaigns; gives you faster access to key customer data; turn feedback & complaints into actionable insight;
Supports brand values – creates an optimal & consistent customer experience; manages negative publicity </li></ul>“The most engaged brands on social media experienced revenue growth in 2009 of 18%, whilst the least engaged brands experienced losses of 6% over the same period.”<br />Source: BusinessWeek top 100 brands July 2010<br />
Social Media Monitoring – sentiment monitoring and analysis <br />Our approach = a powerful search engine + high quality human processing <br />Over 200m differing sources<br />Social Networks<br />Twitter<br />Blogs<br />VideoPortals<br />Forums<br />Consumer Portals<br />Search Engine<br />Qualification and Validation<br />Monitoring and Selection<br />Web-based platform<br />
… local operations<br />… throughout Europe <br />… with global reach<br />Logica – European player with strong local operations and global reach<br />Logica worldwide36 countries<br />Employees39,000 <br />Revenue [€]4.5 billion<br />Logica provides business consulting, systems integration and outsourcing to clients around the world<br />Creating value for clients by successfully integrating people, business and technology<br />Committed to long term collaboration, applying insight to create innovative answers to clients’ business needs<br />
The development of the Web 2.0 technology has occurred at the same time as increasing availability of high speed internet access, increasing sophistication of mobile phones and the development of IT services via the ‘Cloud’.
The average age of Linked in users is 44The average age of Facebook participants is 38.
Research objective: provide a rich picture of the different elements of media literacy across the key platforms of television, radio, the internet and mobile phones; and. to identify emerging issues and skills gaps that will help to target both Ofcom’s and stakeholders’ resources for the promotion of media literacy
The FSA studied 30 Twitter and Facebook pages and followed companies’ behaviour on financial forums.”Throughout the review we identified good and poor practice among firms who had adopted the use of new media to communicate financial promotions,” an FSA statement says. “Some promotions lacked risk warnings. Other promotions, while not very specific about products or services, nevertheless went beyond the definition of ’image advertising’.” June 20101st Mariner bank - their marketing department used social media tools to take a look at their customer’s needs and used that to build new products and services.The bank was able to use social communications tools and online surveys to develop a financial life cycle for their customers and identify that many people today establish a long lasting relationship with a bank in their late teens. They also found that parents are a major influence in the decision of which bank people ultimately decide to use. At the time, they didn’t have an attractive account to market to both parents and 18-25 year olds. With more research using social tools, they identified which features and benefits were important and which combination would give them a competitive edge.Bank of America use twitter for customer service – over 5,000 followers
Obama presidential campaign 2009 he couldn’t have won without social media:Tweaking his messaging based upon understand what people were saying about him and his speeches. Online donations to fund his campaign:2000 YouTube videos, equivalent to $45 million in 'free' television airtime Active presence on all leading social networking sites Obama's Facebook page had more than three million 'friends', quarter million 'followers' on Twitter Over 100 million campaign web sites 6.5 million individual donations made online, totaling $500 millionCoca cola Jan 2011365 days and 186 countries later, Coca-Cola's Expedition 206 has come to an endChina: QQ received a billion visits relating to Exhibition 206 and a further 10 billion "virtual stamps" created by the ambassadors were obtained though QQ.
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