FollowFridays 2011 Session 1: Social Media, the most overrated trend in business.

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Een straffe stelling voor digital believers zoals wij? Toch is het waar, zeker als je het helemaal fout aanpakt. Vorig jaar vertelden we over het concept van ‘social check marketing’ waarbij bedrijven social media-profielen verzamelen, zoals badges op Foursquare. Pak je het daarentegen wel goed aan, dan is het zonder meer the most underrated trend. Je zal je dan ook terecht afvragen waarom je er al die tijd niet meer tijd en middelen in stopte. Die meet- & weet-baarheid tonen we met veel plezier aan.

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FollowFridays 2011 Session 1: Social Media, the most overrated trend in business.

  1. 1. Social Media: the most overrated trend in business
  2. 2. AdNerdsThe Radically Digital Division of Proximity BBDO
  3. 3. Does being radically digital make us digital fundamentalists?
  4. 4. The most overrated trend in businessThe most underrated trend in businessThe new and improved role of traditional media
  5. 5. Social Media: the most overrated trend in business
  6. 6. My guess is that9 out of the 10 people who believe in social media advertising/ROIare those selling this hype to othersJohn Jackson, quote from his comment on a Fast Company article about Social Media ROI
  7. 7. THE SOCIALLY SMART(ER) COMMERCIAL
  8. 8. “Our study found that 63% of TV commercial impressions were avoided simply by not paying attention to the screen.”
  9. 9. most watched American television broadcast one of the most watched sporting events in the world most expensive commercial airtime of the year
  10. 10. $ 120,000/day
  11. 11. +12,000 tweets
  12. 12. Did the Twitter campaign prompt anyone to consider buying an A8 or go to a dealership to test-drive one? Did the tweets inspire an outpouring of positive brand feelings toward Audi?
  13. 13. ?
  14. 14. Today the equation to measure that doesnt existDoug Clark, Audi of Americas general manager for social media and customer engagement
  15. 15. How do you gauge the value of a Twitter audience?
  16. 16. http://www.klout.com
  17. 17. Is social media a bit of a black hole?
  18. 18. Social Media: the most underrated trend in business
  19. 19. Where in the Media Spectrum does social media fit? 4,4 million users rs? 1 05K use 25K users?Google Adwords Social Media TV advertising &Short Term Short Term Long Term Long TermHighly Relevant Highly Relevant Might be Relevant Might be RelevantConversions Conversions Impressions ImpressionsCPA CPA GRP GRP * Belgian figures
  20. 20. "Typical approaches that focus onraw fan counts, or the total numberof engagements on a given piece ofcontent, fail to depict the potential and realized scope of social media brand impressions" The Power of Like, Co & Facebook, May 2011
  21. 21. To leverage Facebook as a viral platform,you have to understand what makes it tick
  22. 22. Social Epidemics*: the Law of the Few ! ls In fluentia ! ! ! ! slide van viral uit vroegere presentatie met daarin meer en meer en meer ! " ! ! ! M <> IL " ! ! vaststelling dat het over 1 graad ! LI gaat ! " ! ! ! N S ! ! !Only Cert ain People Can Drive ! ! Trends ! *Malcolm Gladwell: “The Tipping Point”.
  23. 23. Social Epidemics*: the Law of the Few ! ! ! ! slide van viral uit vroegere presentatie met daarin meer en meer en meer ! <> ! ! ! ! vaststelling dat het over 1 graad gaat ! ! All people ! ! c drive tren an !but only s ds, ome will ! Duncan Watts, recent research for McKinsey Quarterly & Yahoo! Research
  24. 24. What we recently stumbled on is thatalmost nothing spreads. Instead, thevast majority of all adoptions happen within just one degree of the seed. Duncan Watts, Principal Research Scientist at Yahoo! Research in McKinsey Quarterly, July 2011
  25. 25. All of these so-called Viral videosbenefited from tremendous mass-media coverage. Once you get yourvideo on the front page of Yahoo!, 100 million people see that.So this is not about viral anymore. This is mass media. Duncan Watts, Principal Research Scientist at Yahoo! Research in McKinsey Quarterly, July 2011
  26. 26. 4 million 3 million 2 million 1 million 21/09 26/09 10/03The Standaard homepage article gave an immediate boost in viewsand as a result reached much more worldwide mainstream media.
  27. 27. FACEBOOK, A VIRAL PLATFORM
  28. 28. G E HAN IN GC H ATC YE-C STEMO
  29. 29. G E HAN IN GC H ATC YE-C STEMO
  30. 30. fans
  31. 31. friends of fans fans
  32. 32. 6.059friends of fans fans1.254.213
  33. 33. # fans23.000.000 784.000.000 6.059 1.245.213 # unique friends / fan 34 207 The Power of Like, Co & Facebook, May 2011
  34. 34. ComScore finds a high degree of similarity between the tastes of friends.
  35. 35. HOW TO COLLECT FANS (&FRIENDS OF FANS) THE RIGHT WAY?
  36. 36. Two ways to get people to “like” you... organic marketing efforts
  37. 37. Like Widget “Friend us on FB”Ads organic Search Friend Suggestion
  38. 38. Like-gates Like us first & win... Coupons Share a wall post and get a coupon! Invite Friends Invite friends to get benefits.marketing efforts Exclusive Content Leave your credentials for a wallpaper...
  39. 39. This begs the question, how muchefforts are consumers willing to exert in order to get something in return? Alex Bernstein, managing partner at North Social
  40. 40. Two typical consequencesYour virtual fan base resembles or differs from your actual fan base
  41. 41. Two typical consequences te like-ga like wi dgetYour brand new fans are staying or leaving you.
  42. 42. UNDERSTANDING HOW SUCCESSFUL POSTS ARE CREATED
  43. 43. Remember this slide?
  44. 44. Luckily for me, Facebook created Edge Rank Every post that gets published to the Wall receives a quality score, called Edge Rank.
  45. 45. It’s a little bit about math... an edge is an interaction with your wall post: a like, a comment, a share as well as the post itself Edgerank = ∑ e=1 n affinitye x weight e x time decay e edgeaffinity of an every type of edge has a the time decay is is higher specific weight: higher o 1) for fans wh act 1) on the creation side: 1) if an edge h is ter frequently indates some types of posts are recent enoug with your up son tions worth more 2) in comparis edge 2) for interac o are 2) on the interaction side: with the previ ou by friends whll a comment is worth more fans as we than a like or a share
  46. 46. 5 tips & tricks to create better posts
  47. 47. 5 tips & tricks to create better posts Use content types that are more heavily weighted Questions Videos Pictures Shares Wall Posts
  48. 48. 5 tips & tricks to create better posts Request explicitly for feedback & interaction + Questions Comment Like Photo Tags
  49. 49. 5 tips & tricks to create better posts Time your posts to garner the greatest response. Use the Facebook Conversational Calendar via http://www.facebook.com/business/pages/
  50. 50. 5 tips & tricks to create better posts Analyze your page statistics and focus your efforts on the best scoring tools, demographics, times of day etc.
  51. 51. 5 tips & tricks to create better posts Use Tools to help you understand what’s behind it all Facebook.com/Insights gives basic insights EdgeRank.com tells you your edgerank PageLever has detailed statistics Vitrue has an extended analytics suite
  52. 52. WHERE DO MY FANS CONSUME MY CONTENT?
  53. 53. It helps to understand what people do on Facebook Other 25% 27% Newsfeed Apps 10% 21% Profiles 17% Photos
  54. 54. Good news? Think Again. 1 post/day, 7 days a week only reaches 21% of your fan base! 27% Newsfeed 20% 10% 21% Profileshotos 1 day 2 days 3 days 4 days 5 days 6 days 7 days The Power of Like, Co & Facebook, May 2011
  55. 55. Remember this slide?
  56. 56. Depending on your posts’ Edge Score, it ends up... It used to be “simple”... Most Recent Top News
  57. 57. Depending on your posts’ Edge Score, it ends up... ... since two weeks there’s an extra thresholdTicker Recent Stories Top Stories
  58. 58. Every light has its shadow... 20% good posts are reward with atten ed 10% tion newsfeed impressions likes comments -10% tent”“spammy con shed is being puni -20% -30%
  59. 59. FOCUS ON INTERACTIONS VIA OPEN GRAPH APPS
  60. 60. “Like” has been synonym for “am a fan”but its exact meaning has been more diverse...
  61. 61. Diverse meanings for one verb...I 10 years of Techno means I will visit 10 years of TechnoI Volvo C30 means I drive a Volvo C30I Porsche Panamera means I dream of a Porsche PanameraI Levi’s 501 Jeans means I want to buy a Levi’s 501 JeansI Chocolate Crumble means I just ate a chocolate crumble
  62. 62. Guess what... It is possibleI 10 years of Techno means I will visit 10 years of TechnoI Volvo C30 means I drive a Volvo C30I Porsche Panamera means I dream of a Porsche PanameraI Levi’s 501 Jeans means I want to buy a Levi’s 501 JeansI Chocolate Crumble means I just ate a chocolate crumble
  63. 63. Where to use the custom verbs... want one have one website
  64. 64. Where to use the custom verbs... want one have one testdrive buywebsite webapps
  65. 65. Where to use the custom verbs... want one have one compare testdrive request info buywebsite webapps facebook apps
  66. 66. Users grant immediate permissions to share on their behalf “Add to Timeline” adds basic timeline sharing permissions
  67. 67. Users grant immediate permissions to share on their behalf The typical “Allow” button can (optionally!) extend permissions
  68. 68. The result? A timeline update.
  69. 69. Bart MuskalaBart Muskala
  70. 70. Bart MuskalaBart Muskala
  71. 71. But will it end up reaching a user’s friends? Similar to post updates... There is a quality score for apps, called Graph Rank. Graph Rank + There is also a multiplier on top of GraphRank that is applied to users that are interested in same interests, near the same location, both fans of the brand etc.
  72. 72. Depending on an app’s Graph Score, actions ends up...Ticker Recent Stories Top Stories
  73. 73. The distribution of updates...Most impressions are consumed in the ticker, generating most traffic.
  74. 74. EXTEND YOUR REACH VIA THE AD SYSTEM
  75. 75. The types of ads Jan Algoed likes this Jan Algoed “ RECENT POST “ likes this Jan Algoed likes this like likelike like comment “Expandable Ad Unit” Ads Social Ads Sponsored Stories
  76. 76. 5 tips & tricks for more effective ads
  77. 77. 5 tips & tricks for more effective ads Make sure to opt for “social” ads over normal ads. like Jan Algoed likes this like average CTR: 0,1% average CTR: 0,36% average interaction: average interaction: 0,05% 0,37%
  78. 78. 5 tips & tricks for more effective ads Use user’s content to boost sponsored stories’ CTR Wildfire’s Storyteller App requests for feedback and generates Sponsored Stories Boost from 3,3% to 17% conversion rate
  79. 79. 5 tips & tricks for more effective ads Make sure to target friends of fans. Remark: this is standard behavior when choosing for Sponsored Stories.
  80. 80. 5 tips & tricks for more effective ads Analyze your ads’ statistics and focus your efforts on the best scoring formats, messages, demographics etc.
  81. 81. 5 tips & tricks for more effective ads Use tools to get the best out of your ads Alchemy by Techlightenment allows for easy AB-testing
  82. 82. Volvo Opendeurdagen Banner Ad Test The initial setup... !
  83. 83. Volvo Opendeurdagen Banner Ad Test The social work-around Jan Algoed is attending Volvo Opendeurdagen 2011 Volvo Open!
  84. 84. A target audience of 1.254.213 Facebook users
  85. 85. Short Term Ad Performance expressed in Incidences7.523.802 1.010 impressions new fans 0,03% avg CTR 2.356 clicks fans
  86. 86. Long Term Ad Performance expressed in GRPsGRP = frequency x % reach
  87. 87. Long Term Ad Performance expressed in GRPs7,5 million impressions reaching almost 640.000 unique Facebook users! 11,8 x 15% = 177 Jan Algoed is attending Volvo Opendeurdagen 2011 11,8 x 39,7% = 468 Total GRP’s 645 Cost/GRP 1,55 €
  88. 88. Marketing is going to become a much more science-driven activity
  89. 89. The new and improved role of traditional media
  90. 90. We went from a monologue to adialogue. Mass media will continue toplay a role. But its role has changed. John Hayes, Chief Marketing Officer American Express
  91. 91. To truly engage customers for whom “push” advertising is increasinglyirrelevant, companies must do more outside the confines of the traditional marketing organization McKinsey, “We’re all marketers now”
  92. 92. The old consumer decision journey many brands fewer brands final choice BUY
  93. 93. Today’s consumer decision journey r side con eva lua te The Loyalty LoopBO ND advo cate BUY enjoy
  94. 94. insights media usage messageDIABOLOMODEL paid acted impressions WE TALK owned interaction expressions YOU TALK earned real users usage metrics
  95. 95. Marketing is going to become a much more science-driven activity
  96. 96. Turning to so-called influentials,will make it very hard to actuallyknow or measure what yourcommunication efforts do for yourbrand
  97. 97. so- nulle d influentials,Turning toThe ca mber o afans lis only of of ctua ly e impoy hard tif your content is rwill mak it ve rtance t your aknow or measure wh in invitinrgyconsumers successful fo rts do fo our com munito interaf cation e ct brand
  98. 98. dllr ofi f l uentia s, ll have an The nuTraaeitionnflmedia lsti g to somb ed a ns isually -cTurninim a act on o f p i r venco ifad to le to e ot timpe rtrynturoconteplay. Creativity a ry ha o rwill makc a sn rvnwnmtire im nrtant one. su cesasueeenhat your po t is ow o r me f l i i vio ng consuurkn t o in tcaaictn efforts do f r yomers com muni er t o brand
  99. 99. EK T WE X E NE D SE AN MECO Social media strategy for suits
  100. 100. Thx!

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