Reinventing Consumer Interaction in the Social Media Era and beyond - Managing Communities is what it is!

BSI
Reinventing Consumer Interaction in the Social Media Era and beyond - Managing Communities is what it is!
Utrecht, April 2011

BSI
2003

BSI
2006

BSI
2008

BSI
FACTS

BSI
FOUR IN FIVE
COMPANIES WILL USE SOCIAL MEDIA TOOLS IN 2011
Source: eMarketer 2011

BSI
$1.7 BILLION SPENT IN SOCIAL NETWORKS ALONE!
Source: eMarketer 2010

BSI
SOCIAL MEDIA SPENDING UP TO 21% OF TOTAL MARKETING BUDGETS IN THE NEXT 5 YEARS
Source: CMO/Duke 2011

BSI
PROBLEM:

BSI
87% OF ALL SOCIAL MEDIA ACTIVITIES FAIL!
Source: BSI 2010

BSI
ONLY 7% ARE RESPONSIBLE FOR 89% OF ALL SUCCESSFUL SOCIAL MEDIA PROGRAMS!
Source: BSI 2011 Photo: BestBuy

BSI
APPROX. 73% OF ALL SOCIAL MEDIA BUDGETS ARE WASTED!
Source: BSI 2011

BSI INCREASING GAP
Social Media Service Providers
Successful Social Media Teams
Source: BSI 2010

BSI
DO CAMPAIGN FAILURES, HIGH-PROFILE FIRINGS SIGNAL THE END OF SOCIAL MEDIA? Adage March 2011

BSI
YES!
SOCIAL MEDIA ISN’T A CAMPAIGN

BSI
Why?

BSI
INSIGHTS FROM THE SOCIAL MEDIA “INDUSTRY“
Photo: Facebook 2010

BSI EXPERIENCE/DATA
...
Social Media Research
...
...
Social Media Experiments
Social Media / Community Programs
IN THE LAST 8 YEARS WE ANALYZED:
187 BRANDS WORLDWIDE
14.921 CONSUMERS
47 AGENCIES
...
...
...
Social Media Consumer Panels
Social Media Business Planning
Social Media Consulting
Note: Upcomingresultsare from different researchstudies

BSI
EIGHT YEARS OF SOCIAL MEDIA, AND BRANDS ARE STILL DISORIENTED

BSI SOCIAL MEDIA PHASE MODEL
ConfusionAverage Team Size 3.7
Orientation Average Team Size 6.3
Formation Average Team Size 10.6
(Re)Integration Average Team Size 25.1

BSI SOCIAL MEDIA PHASE
#FAIL

BSI SOCIAL MEDIA PHASE
Confusion
Orientation
Formation
(Re)Integration

BSI
THE BIGGER THE COMPANY IS AND THE MORE INTERMEDIARIES EXIST, THE LESS SUCCESSFUL THESE COMPANIES ARE AT INTEGRATING SOCIAL MEDIA

BSI
ONLY 19% HAVE A CLEAR SOCIAL MEDIA STRATEGY

BSI SOCIAL MEDIA DEPARTMENTS
BSI
BSI
2010: Whatdepartmentdoes Social Media reportunder?
2008: Whatdepartmentdoes Social Media reportunder?

BSI
ONLY 16% HAVE A COMPANY- WIDE DEFINITION OF WHAT SOCIAL MEDIA IS

BSI
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Viral Marketing
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Community
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BSI
Hall ofFameoftheofmost stupid socialmediabriefingswegot:
… In future, our Web site should be in a social-media format. We will thus ensure that our content is only accessed by registered users. In the long term, registered users should be transferred to a pay-per-view model …
… With the help of social media we want to become more customer-focused and convey our brand message through 1:1 dialogue. To this end, we want to abandon our Web site and integrate our brand solely via Facebook, YouTube, and Twitter …
… The objective must be to convert spontaneous direct-response purchase into sales at POS through the use of social media. In order to achieve this objective we are leaving every creative social-media idea on social networks and blogs – FISH WHERE THE FISH ARE …

BSI SOCIAL MEDIA DEFINITION IN COMPANY
(Re)Integration
Confusion
Orientation
Formation

BSI
ONLY 19% KNOW HOW TO WORK WITH A SOCIAL MEDIA AGENCY

BSI AGENCY SELECTION/ WORKFLOW SOCIAL MEDIA
Confusion
Standardized Marketing Processes
Orientation
StandardizedProcesses, but awareofcostinefficiencies
Formation
ProcessReengineering Program
(Re)Integration
New Social Media Processes
Boutique
Freelancer
Advertising Agencies

BSI
Hey Agencies, youneedtoredefineyourroleas a serviceprovider
AGENCIES HAVE TO REDEFINE THEIR ROLE IN THE SOCIAL MEDIA CONTEXT

ONLY 12% ARE AWARE OF THE NEED TO FORMALIZE SOCIAL MEDIA ROLES/FUNCTIONS
ONLY 11% ARE AWARE OF THE NEED TO FORMALIZE SOCIAL MEDIA ROLES/FUNCTIONS

BSI ROLES AND FUNCTIONS
1. Observer
Observer:
Social Media team tracks a subset of relevant online conversations to get a picture of what their customers think about them and their competition.
Moderator:
Social Media teamfostersconversations, allowscustomersand prospects to exchange information.
Mediator:
Social Media team actually takes control of the information and disseminates it itself.
Participant:
Social Media team participates directly in consumer-to-consumer conversations
CONSUMER
2. Moderator
BRAND
3. Mediator
4. Participant
CONSUMER
2. Moderator

BSI ROLES AND FUNCTIONS
(Re)Integration
Confusion
Orientation
Formation
Roles/Functions (implicit)
Roles/Functions (explicit)
CONSUMER
CONSUMER
CONSUMER
CONSUMER
Roles/Functions (explicit)
Roles/Functions (implicit)
Evaluate
Evaluate
Evaluate
Evaluate
Education
Education
Education
Education
Measure
Measure
Measure
Measure
BRAND
BRAND
BRAND
BRAND
Research
Research
Research
Research
Planning Cycle (unaware):
PlanningCylce (aware):
Planning Cycle (aware):
CONSUMER
CONSUMER
CONSUMER
CONSUMER
Manage
Manage
Manage
Manage
Strategy
Strategy
Strategy
Strategy
Implementation
Implementation
Implementation
Implementation
Planning
Planning
Planning
Planning

79% HAVE NO SOCIAL MEDIA- OR MODERATION GUIDELINES

BSI
…what???

…yay!!!
HOW THE REALITY OF BMW CONSUMERS LOOK LIKE
HOW BMW THINKS OF CONSUMERS

BSI
(Re)Integration
Confusion
Orientation
Formation
Howcan I solvethisissueas fast andasgoodas I can!?
#WTF
JOSHUA THE INTERN
RICHARD THE COMMUNITY MANAGER

BSI MODERATION WORKFLOW
Negative/Reactive
Positive/Active
Take reasonable action to fix issue and let customer know action taken
No
Assess the message
Evaluate the purpose
Do you want to respond?
MISSING!
Yes
Pull-Out Medium
Yes
Escalation
No
Competitor
Yes
Does customer need/deserve more info?
Are the facts correct?
No Response
Yes
Engaged Critic
Advocates influence
Not satisfied
No
Yes
Can you stop it?
No
Gently correct the facts
No
Yes
DedicatedComplainer?
Engage respectfully
Thank the person
No
Are the facts correct?
No
No
Involve Legal/CC
Let post stand and monitor.
Troublemaker
Yes
Pull-Out Medium
Escalation
Yes
Is the problem being fixed?
Explain what is being done to correct the issue.- Checklist/Isolate
Yes
Yes
No
Can you add value?
Advocates influence
No
Not satisfied
Yes
Flamer
No
Respond in kind & share
Thank the person
Refocus possible?
Pull-Out Medium
No
Yes
Thank the person
Let post stand and monitor.
Comedian WannaBe?
Escalation
Advocates influence

BSI SENTIMENT AND CONVERSIONS
Negative Sentiment
Neutral Sentiment
Positive Sentiment

BSI
47% JUST GIVE SOCIAL MEDIA A “TRY“ … AS A CAMPAIGN

BSI SOCIAL MEDIA COMMITMENT
(Re)Integration
Confusion
Orientation
Formation
PlanningCylce (aware):
Planning Cycle (aware):
Evaluate
Evaluate
Evaluate
Evaluate
Education
Education
Education
Education
Measure
Measure
Measure
Measure
Research
Research
Research
Research
Manage
Manage
Manage
Manage
Strategy
Strategy
Strategy
Strategy
Implementation
Implementation
Implementation
Implementation
Planning
Planning
Planning
Planning

BSI
GIVING SOCIAL MEDIA A „TRY“ IS LIKE HAVING A ONE-NIGHT STAND WITH YOUR CUSTOMER

BSI
91% ALLOCATE BUDGETS INCORRECTLY

BSI BUDGET ALLOCATION
(Re)Integration
Confusion
Orientation
Formation
Evaluate
Evaluate
Evaluate
Evaluate
Education
Education
Education
Education
Measure
Measure
Measure
Measure
Research
Research
Research
Research
Manage
Manage
Manage
Manage
Strategy
Strategy
Strategy
Strategy
Implementation
Implementation
Implementation
Implementation
Planning
Planning
Planning
Planning

BSI BUDGET ALLOCATION
Soft Costs
Social Media Team/ Staff
180.000
15.000
Social Media Research and Development
5.000
70.000
Training / Education Team and Moderators
20.000
External Moderation Team
Customer-Facing Initiatives
190.000
Online Promotion Spend
200.000
Advertising Agency
40.000
Boutique Agencies
10.000
Advocate Programs
5.000
Offline Events
Technology Investments
Social Media Monitoring
40.000
129.000
Community Plattforms
25.000
70.000
Customer Technology Development
8.000
Social CRM/ Rewards
Company in Formation Phase €0.8 Mio.
Company in (Re) Integration Phase €1.93 Mio.

BSI BUDGET ALLOCATION / SOCIAL MEDIA VALUE
Corporate Culture
Platforms/ Technology
Content
SOCIAL MEDIA VALUE
Advocates/ Userdata

BSI
70% HAVE NO CLEAR SOCIAL MEDIA BUSINESS OBJECTIVES

BSI
Return on Investment
5
Action
Online, Offline Word-of-Mouth
4
Engagement
3
Postings, Comments, CheckIns, Likes, etc.
Involvement
2
Fans, Followers, App. Usage, etc.
Visibility
1
Clicks, Views,timespend on site, etc.
Consumer Insights

BSI
PROBLEM:
ENGAGEMENT ≠ ACTION

BSI
1:1:Many

BSI
ONLY ONE OUT OF 50 SOCIAL MEDIA PROGRAMS SCALE

BSI
COMPLAINTS ALWAYS SCALE!!!
ADVOCACY DOES NOT!

BSI
WHAT CAN YOU DO ABOUT IT?

Understand consumermotives
Become relevant!
Manage itright!
Maketherightstart!
Get CEO Support
Reward
Become relevant offline again
Think aboutmeasuring

MOTIVES!

THE NET IS THE NEW CONSUMER PROPERTY!

SELF EXPRESSION AS STATUS SYMBOL!

VOYEURISM AS A
METHOD TO UNDERSTAND
THE SOCIAL RANKING

SHARING AS A WAY TO
INCREASE PROPERTY

RELEVANCE!

DISRUPT SCHEMAS

APPROACHES?

BRANDED CONTENT/ ENTERTAINMENT?

CONSUMER PARTICIPATION – USER-GENERATED-CONTENT?
Quelle: Brand Science Institute 2007: Brand Communities als Kundenbindungsstrategie effektiver als Bonuspunkteprogramme

USEFUL SERVICES?

CONSUMER PANELS?
Quelle: Brand Science Institute 2007: Brand Communities als Kundenbindungsstrategie effektiver als Bonuspunkteprogramme

WHICH APPROACH IS MORE SUCCESSFUL?

BSI
BRANDED CONTENT
INTEGRATED CONTENT/EXPERT-PANELS
12%
38%
19%
CROWD-SOURCING
31%
USEFUL SERVICES

MANAGE!

SOCIAL MEDIA PROJECTS = INTERNAL START UPS

EARLY-AVAILBILITY OVER CORRECTNESS

Brand Communication
CONSUMER INTEREST
MEDIA
Pre-launch
Launch
Post-Launch

Brand Communication
MEDIA
CONSUMER INTEREST
Pre-launch
Launch
Post-Launch

START RIGHT!

EVERYBODY?

CONCENTRATE ON YOUR HIDDEN ADVOCATES!

LIGHT LOYAL:LUCY!
Quelle: Brand Science Institute 2008: Exploring The Effects of Weak-Ties on Brand Community Performance

BSI
Automotive
Telecommunication
Light-Loyals
IDENTIFY YOUR LIGHT-LOYALS ONLINE AND OFFLINE
Light-Loyals
Packaged Consumer Goods
Consumer Electronics
Light-Loyals
Light-Loyals

LET LUCY LOOK BETTER – SOCIAL ENHANCEMENT IS THE KEY!

BSI FACTORS DRIVING ADVOCACY
FACTORS :
EXCLUSIVENESS
IMPACT
MEANINGFULNESS
SOCIAL ENHANCEMENT
Meaningfulness
INFORMATION VALUE
Word-of-Mouth
EXCLUSIVENESS

SUPPORT!

GET TOP-LEVEL SUPPORT!
Quelle: Brand Science Institute 2008: The Influence of Corporate Culture on Long-Term Community Performance

…AND A SUPPORTIVE LEGAL DEPARTMENT!

…ooops!

BSI
HIRE THE RIGHT PEOPLE TO MANAGE YOUR SOCIAL ENHANCEMENT INITIATIVES

REWARD!

REWARD ADVOCATES

OFFLINE!

TAKE CARE OF PARA-SOCIAL BEHAVIOR!
ABER!
Quelle: Brand Science Institute 2007: Social-Network Community Behavior: Effects on Para-Social Interaction and Impulse Buying

„A longwayhome…“

BECOME RELEVANT OFFLINE!!!

BSI
DEFINE THE RIGHT KPI‘S!

?
BSI
(pricepaid – directservicingcost) * prob. repeatbuying
Return on Investment
-
CLV:
acquisitioncost
5
1 + discount rate
?
# Advocate Brand Interactions / Advocate
Advocate Interactions:
Total # Interactions
4
Action
# AdvocateDrivenConversations
Advocate Impact:
Total # Brand Interactions
?
# Posts + Comments + Shares + Trackbacks
Engagement Rate:
Total Views
3
Engagement
# Positive/Neutral/Negative Brand Mentions
Sentiment Ratio:
# Total Brand Mentions
Total People Involved / Social Media Channel
AudienceReach:
Total AudienceExposure
?
2
Involvement
Brand Mentions/ Social Media Channel
Share of Voice:
?
Total Mentions (Brand + Competitors)
1
Visibility

BSI
THE REINVENTION OF CONSUMER INTERACTION
STARTS IN YOUR COMPANY!

Reinventing Consumer Interaction in the Social Media Era and beyond - Managing Communities is what it is!

by BSI on Apr 07, 2011

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Reinventing Consumer Interaction in the Social Media Era and beyond - Managing Communities is what it is! — Presentation Transcript