Social Media Business Adoption & Trends_Edelman_AndrewFoote_iabcnj_meeting
SOCIAL MEDIA BUSINESS ADOPTION & TRENDS IABC meeting 2.3.11 presented by andrew footeSOCIAL MEDIA BUSINESS ADOPTION & TRENDS
THE EMPOWERED INDIVIDUAL, THE NEW POWER INFLUENCER Technology and other social forces have empowered the individual to act as citizen marketer, influencer, activist and self-publishing journalist. “Someone like me” is the most trusted source (60% in US)http://www.flickr.com/photos/sungazing/2793271140/
THE CONSUMER DECISION JOURNEY HAS EVOLVED David C. Edelman Harvard Business Review, Dec. 2010
WHAT DOES AN EMPOWEREDCONSUMER MEAN FOR MARKETERS?
RISK Issue impacted search results for Dominos to this day YouTube video shows CEO video on YouTube Employees tampering addresses the issue with food at a and reassures customers Dominos outlet Consumers share YouTube video Dominos sets up a corporate through Twitter, picked up by The Twitter profile to Consumerist, NYT and Huffington Post respond to customers
The purpose of a business isto create a customer – Peter Drucker…who creates customers – Shiv Singh
% of Total Note: Includes companies with 100+ employees Source: eMarketer, Nov. 1 2010Global Social Media Check Up, 2010
MOVING BEYOND THE CAMPAIGN CYCLE campaign campaign campaign campaignaudience time
CREATING PLATFORMS FOR SUSTAINED ENGAGEMENT utilityaudience time
HOW ARE COMPANIES ORANIZINGSOCIAL MEDIA EFFORTS?
BUILD STRATEGY IN ALIGNMENT WITH BUSINESS GOALS Behavior Change Economic Success Raising awareness Increasing sales Shifting attitudes and change Growing market share (or brand stakeholder perceptions preference share) Driving trial Return on marketing investment Inspiring action: Do more or Do less Growing shareholder value or share price Recommending (e.g. net promoter score) Increasing reputation and image (via external rankings, stock price)
TAKE A CROSS-FUNCTIONAL APPROACH Customer Human IT / Sales Comms Marketing Service Resources Legal Enterprise Digital + Social Media Strategy Channel/Platform Strategy Resources, Roles, Responsibilities Content Integration Guidelines, Protocols, Best Practices Agency Partners Social Media Strategies Editorial Planning SEO/SEM Digital Governance Model Campaign Development Blogger Activation Social Media Training Measurement Approach Program Refinement Web Development Content Creation Insights & Education