Social Media TheDigitalConsultant A presentation
Social Media is everywhere
2011 – Taking Aim • • • • • • • • •
People, process and technology should be the primary focus l d h l h ld b h f Fully integrated marcoms across all customer touchpoints Focus on digital for branding and less on super‐granular Focus on digital for branding and less on super granular ROI analysis ROI analysis Change to a business model of ‘business social’ involving your customers much more directly Publishing and retailing will blend more meaning a need to up‐skill in content, community and social media for retailers Gaming virtual goods and currencies offer opportunities Gaming, virtual goods and currencies offer opportunities It is vital you have the right organisational structures, teams and infrastructure – digital talent is in short supply ‘Digital marketing’ will become just ‘marketing’ More editorial / content resources will need to be recruited
Reference: Econsultancy CEO Ashley Friedlein
2011 – Taking Aim • • • • • • •
‘‘Techies’ will become more valued and be directly employed by agencies h ’ ll b l d db d l l db Cloud computing is the big one in terms of IT infrastructure both internally and anything customer facing y g g The focus will be on content in the broadest sense not just creation and curation C Content most in demand will be ‘smart’ (re‐used and repackaged in many i d d ill b ‘ ’( d d k di ways ) and ‘evergreen’ (long lasting) Data is the new oil and we need to take “social data” and apply and use it pp y intelligently across the whole business, online and offline Sentiment will become an increasingly important factor in search engine optimisation and will be automated optimisation and will be automated Using the media we own, retarget users ‐ on your site, via email, or social media etc. Reference: Econsultancy CEO Ashley Friedlein
2011 – Taking Aim •
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Social media is a two‐way communication medium and businesses need to l d d db d invest in listening capabilities that capture the activities of their existing or potential customers online Privacy – there is no escaping it as it will remain a hot topic There will be a the “humanisation” of the user experience online ‐ live chat virtual environments co browsing live events streaming virtual chat, virtual environments, co‐browsing, live events streaming , virtual sales characters, improved personalisation Human/emotional/sensual connection embedded into interactive experiences with gestural interfaces Companies to respond to conversations in nearly real time Joining up online and offline data offline redemption of an online Joining up online and offline data ‐ offline redemption of an online coupon, increasingly via mobile devices Presents interesting cross‐channel measurement opportunities Reference: Econsultancy CEO Ashley Friedlein
2011 – Taking Aim •
Mobile & Contactless Payments ‐ bl l the big F&B h b brands are already offering (or lining up to offer) these. Starbucks Card Mobile App is now available at 6,800 U.S. company‐operated Starbucks, and all U.S. Target stores. Scan your phone and go with yyour coffee ‐ p promoted as the fastest way to pay. y p y
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Research has shown that the average person's brain can only manage about 150 quality relationships but Social CRM allows manage about 150 quality relationships but Social CRM allows organizations manage the tens of thousands of relationships
2011 – Taking Aim •
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Daily deals (e.g. Groupon l d l ( ) d ) and Swarm /Group Marketing (e.g. Dell Swarm) will grow dramatically Augmented Reality will become common place. In the near future ‘social In the near future social media marketing media marketing’ will become know simply as ‘marketing’. Community designers and managers will be the marketers of the future as they are the one who make interaction with the brand a useful, fun, and safe experience. , , p Reference: Corey Mull
Measurement You need to measure the effectiveness of comments so that you can be nimble and responsive and given the temporal nature of any conversation, instance and context is as important as the test itself. • • • • • • • •
Who are the right “influencers” to target for a particular product or service? at s t e g t t e to essage t ese ue ce s? What is the right time to message these influencers? What is the impact of competition activity on our buzz? What is the impact of traditional marketing on social media and vice versa? What are the type of comments that work for selling a product? What are the type of comments that work for selling a service? What are the right pricing strategies? How should the business tap into current affairs?
Reference: Prashant Suryakumar, The New Metrics for Social Marketing
Measurement Sentiment Analysis The key to successful engagement is sentiment prioritization: 1.
Influence: Because social media mentions are plentiful, priorotization tools must continue evolving. Of the 10,000 tweets and blog posts about your brand, how do you pick the top 50 to focus on? If you need to neutralize the mentions that hurt your brand the most, you should drill down into negative mentions, identify the content coming from the most influential people in your industry, understand how far each tweet traveled, and y g p p y y how many people were impacted by this content. If someone blogs and tweets the same negative mention about you, how do you account for that? How do you quantify the multiplied effect of cross‐platform communication originating from the same person? Including influencer analytics alongside sentiment measurement is becoming a standard of the social media monitoring industry.
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Reputation: Taking the influencer concept a step further, each notable user should have a social media reputation profile. If someone’s negative sentiment indexes higher than average (i.e. that person hates everything equally), then that person’s negative sentiment should be somewhat discounted — in statistics, we toss outliers like these out of the consideration set. Moreover, your reputation and influence on one channel should carry over into other channels.
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Intensity: i As far as sentiment algorithms are concerned, part of a successful prioritization process is going to be identifying f l h d f f l b d f the intensity of each mention. “I really hate product X and will never buy it” is quite different from “Product X is running a little slow today.” Ability to cross‐reference intensity, influence, trajectory, velocity and sentiment of each social media mention will drive us towards a reliable priority system.
Reference: Maria Ogneva, Director of Social Media at Biz360
Measurement Create A ‘Listening Dashboard’ based on you Buzz monitoring. What should be included? Aim for a mix of qualitative and quantitative information. How people are interacting with the content you share and the way you interact with them? Digital engagement is where someone is prompted to act and become involved. 1. 2. 3. 4. 5. 6.
Growth with our main social media presences – Facebook, twitter What is the trend in digital engagement? What stories are getting shared the most on Facebook? What stories are getting shared the most on Facebook? What are the most prevalent Twitter topics? What are some top tips people using social media can tell us ? What’s the next big thing we should be planning for?
Listening for intelligence ‐ tapping into the world's biggest focus group to quickly gauge the attitudes and opinions of your brand's loudest advocates and detractors. Gather metrics—are you driving earned media? Is the audience responding the way you intended? Listening for intelligence ‐ a weekly report of what people are saying about your brand should suffice if you are using the data to set long‐term strategies Listening for customer service is the next level ‐ develop a customer service campaign that will improve your customers' experience with your brand. Helping, providing meaningful answers, and resolving issues are good. Intrusions, meaningless apologies, and antagonizing are seriously detrimental Listening for action ‐ not just monitoring conversations but responding to them. i.e. getting involved in them. Requires the right social media monitoring platform and staffing right social media monitoring platform and staffing.
Reference: Maria Ogneva, Director of Social Media at Biz360 and Kyle Monson, Advertising Age
Measurement
Reference:Â Klout
Measurement
Overall Influence ‐ The scores range from 1‐100 with higher scores representing a wider and stronger sphere of g p g g p influence. The Klout Score is a factor of over 35 variables broken into three categories; True Reach, Amplification Score and Network Score.
Amplification ‐ Likelihood that your content will be acted upon. Roger Smith is more likely to have their message amplified than the average person
Reference: Klout
Measurement
Overall Influence ‐ The scores range from 1‐100 with higher scores representing a wider and stronger sphere of influence. The Klout Score is a factor of over 35 variables broken into three categories; True Reach, Amplification Score and Network Score. The Klout Score is a factor of over 35 variables broken into three categories True Reach Amplification Score and Network Score
Reference: Klout
Measurement
A Map of Mentions A Map of Mentions Each user is connected to the people and hashtags they mentioned the most in recent tweets
Reference: TheDigitalConsultant
Influencing the Influencers
Create and publish relevant content ((‘link bait’))
Influence the aggregators and influencers of information (convince these ‘Socialisers’ to link to your published content)
Reference: TheDigitalConsultant
Get the Socialiser to influence his or her large network of influencers
Socialiser uses their Facebook, Twitter, Digg accounts to spread the news about your b t content
= True Social Media Marketing
Who are the Influencers?
Extensive Research To discover the all of the aggregators and influencers 500+ related sites within your industry
Planning Create your plan to i fl influence them th
Reference: TheDigitalConsultant
Test the market using a small group Use different sales pitches Which works best?
Contact The Masses Companies,. Media, bloggers
Monitor Results What links, influencers and associations generated the generated the most positive buzz for you?
Inspired by a moral compass, The Social Th S i l Compass serves as our value system when defining our program activities. It points a brand in a physical and experiential direction to genuinely and effectively connect with customers, peers, and influencers, where they interact and where they interact and seek guidance online. Reference: Brian Solis
Peripheral services have become important to the core application. API’s are effective when a company gives developers the freedom to use their service to create things of value for create things of value for them Reference: Brian Solis
Charts online conversations conversations between people and communities, as well as the networks that connect the t th Social Web Reference: Brian Solis
5 Q&A Q&A’s s for Facebook Marketing
Reference: Dan Zarella
How Much Is A Facebook Fan Worth? Value of a Facebook Fan Consumers who are fans are more valuable to organizations across all variables studied than are consumers who are not fans. Key value points include: • On average, fans spend an additional $71.84 on products for which O f d dditi l $71 84 d t f hi h they are fans compared to those who are not fans. • Fans are 28% more likely than non‐fans to continue using the brand. • Fans are 41% more likely than non fans to recommend a fanned • Fans are 41% more likely than non‐fans to recommend a fanned product to their friends. • With all variables analyzed across all 20 studied brands, Syncapse’s research indicates the average annualized value of an individual fan is research indicates the average annualized value of an individual fan is $136.38. Fan value can vary widely by company and product. Factors influencing this variability include product purchase price, purchase frequency, this variability include product purchase price, purchase frequency, product purchase cycle, product category and brand equity. It should be noted that underlying brand strength is the cause for some of these differences. Reference: Syncapse Corp
How Much Is A Facebook Fan Worth?
Reference:Â Syncapse Corp
How Much Is A Facebook Fan Worth?
Reference:Â Syncapse Corp
How Much Is A Facebook Fan Worth?
Reference:Â Syncapse Corp
How Much Is A Facebook Fan Worth?
Reference:Â Syncapse Corp
How Much Is A Facebook Fan Worth?
Reference:Â Syncapse Corp
How Much Is A Facebook Fan Worth?
Reference:Â Syncapse Corp
How Much Is A Facebook Fan Worth?
For Facebook to offer any value for your enterprise you need to: 1. Get people signed up as your fans. 2. Make your Facebook environment engaging for fans to encourage interaction with you. Reference: Syncapse Corp
What Makes Facebook Fan Pages Successful? Three Key Attributes: Engagement, Interest and Constant Th K Att ib t E t I t t dC t t Connection Local businesses make up 17.6% Local businesses make up 17 6% of Facebook fan pages. Companies come in at 6.3% and Companies come in at 6.3% and products at 3%. Interests, musicians and public , p figures are also high on the list. Source: Wedbush
“It’s about making sure that we do our job every day to give those fans some sort of meaningful value,” Alexandra Wheeler, Director of Digital Strategy, Starbucks Reference: EMarketer
What Makes Facebook Fan Pages Successful? 77% of new media users want brands to offer them incentives online. Additionally, 28% would like to be entertained. Source: Cone
Even as new media adoption explodes – up 48 percent from 2009 – loyal followers can be hard to come by for companies trying to reach consumers online. With the world’ss most loved to come by for companies trying to reach consumers online. With the world most loved brands a click of the mouse away, new media users still choose to demonstrate affinity (e.g., “like” on Facebook, “follow” on Twitter or subscribe to an RSS feed) for an average of only 4.6 companies online, making this club one of the most exclusive to which a company can hope to gain access. gain access. Source: Cone Reference: EMarketer
What Makes Facebook Fan Pages Successful? The top two reasons new‐media users said they stopped following brands online, tied at 58%, were brands sending out too many messages or acting irresponsibly. A majority of respondents also complained about content being irrelevant. Source: Cone
Top reason for unsubscribing was a lack of interest in the brand, followed closely by complaints about information being published b ti f ti b i bli h d too frequently. The third reason uninteresting or irrelevant information. Source: DDB
Facebook Facebook in 2010: 7.9 new account registrations per account registrations per second! Source: Socialbakers
Tweet Tweet Tweet, Twitter is an essential business and social tool. It is increasingly a communication medium of choice but it is not necessarily the most influential. Th h The change trends between 2009 and 2010: t d b t 2009 d 2010 • Users with 100+ friends* increased by three‐fold to 21% • 22.5% of users accounted for about 90% of all activity • 80% users have made fewer than 500 tweets 80% users have made fewer than 500 tweets • Significantly more users are disclosing their location, bio and web information in Twitter profiles information in Twitter profiles * A Twitter ‘friend’ is loosely defined as someone whom a user has directed a post at least twice (and usually replied)
Source: Sysomos
Tweet Tweet Tweet, People are becoming more comfortable with using Twitter and are more prepared to add personal information.
The number of Twitter users offering personal information has more than doubled to 63 3% compared with 31% in 2009 than doubled to 63.3%, compared with 31% in 2009 Source: Sysomos
Tweet Tweet Tweet, • 82% of Twitter users now provide a name, compared with only 33% in 2009. 2009 • 73% provide location information compared with 44% in 2009 • 45% of users submit a Web site address versus 22% a year ago.
Source: Sysomos
Tweet Tweet Tweet,
Source:Â Sysomos
Tweet Tweet Tweet, One way of measuring the growth in importance of a service is to determined when people joined. 44% of the total Twitter population joined last year, b t between January J and mid August. Twitter is adding Twitter is adding 300,000 users a day
Source: Sysomos
Tweet Tweet Tweet, 96% of users have less than 500 Followers 0.06% of users have more than 20,000 followers, and only 2.12% have more than 1,000 followers Followers are people who follow your tweets on Twitter. Friends, Fans and Followers denote a stronger or weaker relationship. This is measurable This is measurable. Relative to the overall population of internet users, Twitters audience tends to be childless; they are also disproportionately highly educated tends to be childless; they are also disproportionately highly educated, higher‐income women under the age of 45 who browse from work. It is estimated that 29% of visitors to the Twitter site come from the US It is estimated that 29% of visitors to the Twitter site come from the US
Source: Sysomos and Alexa
Tweet Tweet Tweet, 80.6% of all Twitter users have made fewer than 500 tweets
A small group (2.2%) have accounted for 58.3% of all tweets, while 22.5% A ll (2 2%) h t d f 58 3% f ll t t hil 22 5% have accounted for about 90% of all activity
Source: Sysomos
Tweet Tweet Tweet, ReTweets are a good measure to fi d t h find out how popular your tweets l t t are. You should aim to get into the 95+ percentile for retweet ranking. g When a tweet generates a reply (@) or a retweet (RT), it has either i it d ignited a conversation or ti encouraged someone to share it with their followers i.e. a measure of digital engagement g g g 29% of tweets generate a reaction and most Retweets happen in the first hour first hour Most replies also happen within the first hour Source: Sysomos
What The Pundits Predict
2011 1.
A Year of Pragmatism Action rather than words with no new major developmentsin view. People, process and technology should be the primary focus
2.
Joined up marketing remains the holy grail Very few organisations are anywhere close to the nirvana of fully integrated marcoms across all customer touchpoints. Most of the excitement in 2010 was about offline marketing and with older media ‐ TV advertising, print, direct mail and telesales .
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Digital for branding – and measurement be damned Significantly increased spend for “brand” reasons rather than direct response / sales and other ‘hard’ metrics. The spend will come under headings such as ‘engagement’, ‘experiential marketing’, even ‘customer service’. The spend will be focused increasingly on content, apps, social media and service rather than on bought media like display advertising or paid search. But essentially it will be about building a brand presence online that people can engage with, relate to, and, ultimately, trust. The demands for super‐granular ROI analyses of such activities will actually fade a little in 2011. It will become more accepted that these are things you just do.
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Business models – continued innovation and disruption * Business models which radically disrupt existing value chains, typically by involving customers much more directly in the business model itself. This is not ‘social media’, it is ‘(social) business’. * “Pubtailing”. This is the blend of publishing and retailing. Many publishers need to sell stuff to fix their broken business models whether subscriptions apps content affiliate revenues etc and so need retailing skills At the same time retailers models, whether subscriptions, apps, content, affiliate revenues etc. and so need retailing skills. At the same time retailers need to have skills in content, community and social media which publishers are typically better at. Also, many e‐ commerce sites (and stores) increasingly need to look at advertising (i.e. a publisher skillset) revenue streams to continue to grow, or make up for the fact that the likes of Amazon, Google or Apple might be hijacking their sales (largely via m‐ commerce in store). * Virtual currencies and “gamification” – obviously coupons are currently hot but the whole area of gaming, virtual goods and currencies, should make for some interesting business models this year. Source: Econsultancy CEO Ashley Friedlein
2011 5. Organisational structures, teams and infrastructure – 5 Organisational structures teams and infrastructure not sexy, but vital not sexy but vital The right talent supported with the right processes and technology infrastructure * No let up in the war for (digital) talent. * Many more agencies, and corporations, will move to a more ‘connected / networked’ model with a greater use of freelance specialists on demand. This is obviously made more possible by remote working and globalisation. It also allows for more flexibility and greater cost control. y g * There will be an ongoing dissolution of organisational silos as ‘digital marketing’ becomes just ‘marketing’ but this will take time and there is still a need for digital specialists. And there is a need for increased speed and agility. Along with the 'connected/networked’ organisational model, expect to hear more about “hub and spoke” or “matrix” organisational models. * Social becomes part of the job description not the job title * A rise in recruitment of editorial / content resources * (Web….) Engineers / Techies / Developers will not only become more valued but they will increasingly be headhunted, and employed by, 'creative' organisations e.g. ad agencies. * Cloud computing is clearly the big one in terms of IT infrastructure both internally and anything customer facing. 6. Content strategy / Content marketing It is difficult to fuel the flames of “social media”, or “engagement”, without content in the broadest sense – including apps, video etc. It’s not just about content *creation* but content *curation*. A rise in “online customer publishing” (‘contract publishing), a rise in content licensing and syndication, a rise in the “internationalisation” of content (including translation), a rise in internal online publishing or content/asset management teams (even at banks, retailers, travel companies etc.), and a big demand for lowish‐cost (even at banks, retailers, travel companies etc.), and a big demand for lowish cost short short‐form form video content for online use. video content for online use. The kind of content most in demand will be a) ‘smart’ in as much as it can be re‐used and repackaged in as many ways as to extract the greatest value from it b) ‘evergreen’ content with a longer shelf life e.g. guides, practical information, tools etc
Source: Econsultancy CEO Ashley Friedlein
2011 7. Data is the new oil * Attribution modelling Attribution modelling * “Social CRM” –how we can take “social data” and apply and use it intelligently across the whole business online and offline. * Joining up online and offline data – all sorts happening in this area e.g. the Yahoo/Nectar Consumer Connect project, the whole world of coupons generally where offline redemption of an online coupon, increasingly via mobile devices, gives all sorts of interesting cross‐channel measurement opportunities. * Retargeting – privacy issues notwithstanding. The greatest relative growth in the use of retargeting data to come from ‘owned’ media rather than bought media i.e. not so much retargeting for offsite advertising but retargeting of users on your site, or via email, or social media etc. * Sentiment – will become an increasingly important factor in search engine optimisation which in turns means sentiment as a data point could suddenly become very valuable indeed. * “L d * “Lead nurturing” t i ” * APIs, semantic stuff, Web 3.0. Really interesting stuff starting to happen, from governments starting to open up rich data sources to organisations making intelligent commercial uses of web services to open up new business models and/or markets. 8. Privacy 8 Pi Privacy will be a big topic for 2011 and beyond. Cookies, digital fingerprinting, the FTC, Ofcom, the EU, tracking, behavioural targeting, Facebook. 9. User experience * h “ * The “Humanisation” of the user experience online. E.g ” f h l . the use of live chat, virtual environments, co‐browsing, h fl h l b streaming of live events, virtual sales characters, much improved personalisation etc. There is a need to bring more of the human/emotive/experiential power of offline to online. The iPhone, and now iPad, have brought a whole new human sense (touch) to interactive design. Human/emotional/sensual connection embedded into interactive experiences with gestural interfaces.
Source: Econsultancy CEO Ashley Friedlein