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"The Social Consumer: Who Are These People and Why Are You Ignoring Them" by Marcus Whitney

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"The Social Consumer: Who Are These People and Why Are You Ignoring Them" by Marcus Whitney, CEO of Moontoast. Presented at Murmuration 2012.

"The Social Consumer: Who Are These People and Why Are You Ignoring Them" by Marcus Whitney, CEO of Moontoast. Presented at Murmuration 2012.

Published in: Business, News & Politics

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  • 1. THE SOCIAL CONSUMER WHO ARE THESE PEOPLE AND WHY ARE YOU IGNORING THEM?® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 2. The following slideshow was presented by Moontoast’s CEO Marcus Whitney at Murmuration 2012 Learn More About The Industry Collective: Like the Industry Collective on Facebook Follow Industry Collective on Twitter Check out the Industry Collective Website for all the latest news2
  • 3. People are spending more time on socialnetworks than ever before33 | Copyright 2012 Moontoast, LLC. All Rights Reserved 2011 Moontoast, LLC. All Rights Reserved ® Copyright
  • 4. 44 | Copyright 2012 Moontoast, LLC. All Rights Reserved 2011 Moontoast, LLC. All Rights Reserved ® Copyright
  • 5. 55 | Copyright 2012 Moontoast, LLC. All Rights Reserved 2011 Moontoast, LLC. All Rights Reserved ® Copyright
  • 6. THE SOCIAL CONSUMER 2011 Social Commerce Study Top Findings 77% 42% Online adult population Consumers who have proactively “followed” a on social networks retailer 6.3 Number of retailers ‘followed’ by 1/3 Consumers who said they the average consumer would shop directly on FacebookSource: 2011 Social Commerce Study, May 2011, a study by comScore, Inc., Social Shopping Labs, and Shop.org66 | Copyright 2012 Moontoast, LLC. All Rights Reserved 2011 Moontoast, LLC. All Rights Reserved ® Copyright
  • 7. Moontoast sees the opportunity for your brand.77 | Copyright 2012 Moontoast, LLC. All Rights Reserved 2011 Moontoast, LLC. All Rights Reserved ® Copyright
  • 8. At Moontoast, we envision a world where brands are empowered to deliver happiness to consumers by social design and robust technology.88 | Copyright 2012 Moontoast, LLC. All Rights Reserved 2011 Moontoast, LLC. All Rights Reserved ® Copyright
  • 9. What we’re doing about it…9 | Copyright 2012 Moontoast, LLC. All Rights Reserved 2011 Moontoast, LLC. All Rights Reserved ® Copyright
  • 10. Our mission is to create the best technology in the world for brands to leverage the social revolution, creating and growing valuable relationships with their consumers.10 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 11. Brands that LOVE their fans getit.They roll with us. ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 12. Brands who depend on their fans are choosing Moontoast to capture the Social Commerce Opportunity.1212 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 13. But we were still speaking another language1313 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 14. Unique Value Proposition We realized about 3 months ago, something was missing. We couldn’t tell our story in the terms that were left from the old web.1414 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 15. Unique Value Proposition For example, look at the word: Conversion con·ver·sion [kuhn-vur-zhuhn, -shuhn] Noun 1. the act or process of converting; state of being converted. 2. change in character, form, or function. 3. spiritual change from sinfulness to righteousness. 4. change from one religion, political belief, viewpoint, etc., to another. 5. a change of attitude, emotion, or viewpoint from one of indifference, disbelief, or antagonism to one of acceptance, faith, or enthusiastic support, especially such a change in a persons religion.1515 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 16. A little strong isn’t it? I mean, it’s just marketing.1616 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 17. The Social Commerce Truths. ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 18. People aren’t supposed to be pushed through a funnel.18 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 19. Traffic sucks. No one wants to be converted.People just want a good deal from a great brand.19 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 20. Social Commerce isn’t just a strategy…20 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 21. ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 22. The Realization ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 23. We realized the Social Revolution for brandsis not about traffic & conversion.23 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 24. We realized the Social Revolution for brandsis not about traffic & conversion.It’s about…24 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 25. Relationships25 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 26. Relevancy26 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 27. Results27 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 28. Return on Fan® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 29. Return On Fan™is the quantitative and qualitative measurementof the impact that a fan has on a brand in theSocial Web.29 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 30. All Fans are not created equal.30 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 31. Measure appropriately, build up the valuable relationships.31 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 32. Your Brand’s Ability to Relate Directly Impacts Your Impressions32 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 33. In Social, Pay for play is notas effective as authenticrelationships, and the rulesof that game is EdgeRank1. Affinity: If you spend more time talking with certain friends on Facebook by posting to their wall, your affinity with those friends will be stronger.2. Weight: Weight is essentially the level of interaction a piece of content gets (for example, likes and comments).3. Time Decay: Over time a post’s relevance decays, thus making it less important and pushing it down the feed. ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 34. P&G Found Out: Social Saves Ad Dollars.3434 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 35. BUILDING RELATIONSHIPS One post at at time. People are 40-150 times more likely to consume brand updates in the news feed rather than on the brand page itself. POSTS PAGESOn average, expect 3% of your community 96% of fans who like a brand never return toto interact with your posts through likes, the page, rather they consume updatescomments, shares, etc. through the news feed.3535 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 36. The Return on Fan™ Activation Lifecycle 1 Discovery 2 Endorsement Interaction 4 Transaction 33636 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 37. Uh Oh… Don’t Piss Off the Social Media Police!!!3737 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 38. CMO Council and Lithium Study3838 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 39. Here’s what we (CMOs) think they want…3939 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 40. They don’t care about the content. Give them the promos!4040 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 41. Your Brand lives everywhere, not justyour website. TransAct like it. ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 42. Engage and Transact Where The Fan Is –Distributed Social Commerce takes commerce to the fan,maximizing engagement and transactions at the point of impression. Affiliate Social •Contextual offers on • Where fans connect with the brand BRAND partner sites •Turn Fan and Affiliate • Impulse purchases OFFER Sites into Fan Stores • Co-Brand Stores to from Social prompts • Built to be viral add value to Affiliate Sites Mobile Ad •QR Codes, SMS Messages, Social Apps Networks and Check-In Apps • Transactional Ads • Leverage GPS for • Improved Conversion local context in and ROI commerce •Publishers keep fans engaged4242 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 43. MoontoastSOCIAL ACTIVATION ENGINE ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 44. Fan Activation For Everywhere Your Brand Lives4444 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 45. How Moontoast Social Activation Engine Works Moontoast Social Activation Engine Insights Influence Next OfferSocial Apps: Social Social Stores Engagement Apps AdStoresPopUp StoresDigital Promos Standard AnalyticsEmail Rewards ContestsAudio & Video Surveys Mobile Brand Offers: Brand Fan Social Analytics: Products, Content, Rewards Locations/Channels: Transactional Data, Number of Likes Donations, Videos, Music, FB, Twitter, YouTube, Shared Stores, Top Selling Campaign Messages, Images, Coupons… Websites, Blogs, Content Most Popular Product, Registrations, networks, Communities, Downloads Portals, Mobile Social Commerce Apps Premium Analytics 45 ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 46. Takeaway Time ® Copyright 2011 Moontoast, LLC. All Rights Reserved
  • 47. Three Disruptive Takeaways 1. Every Social Channel is a Loyalty Channel for your brand (this includes content networks with comment boards) 2. Stop comparing the sales you get in those channels to your email / website sales. This is about Relationship Building. 3. Transact everywhere (not just financially) to start to measure your Return on Fan™.4747 | Copyright 2012 Moontoast, LLC. All RightsCopyright 2011 Moontoast, LLC. All Rights Reserved ® Reserved
  • 48. Thank You!48 Icons by: ® Copyright 2011 Moontoast, LLC. All Rights Reserved thenounproject.com
  • 49. Connect with Industry Collective Like the Industry Collective on Facebook Follow Industry Collective on Twitter Check out the Industry Collective Website for all the latest news