Engaging Through Social Media

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Presentation to the National Institute of Pension Administrators

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  • Engaging Through Social Media

    1. 1. Engaging through Social Media Building an Annuity of Relationships Joel Warady Principal Joel Warady Group January 15, 2011
    2. 2. In Social Media We Trust
    3. 3. In Social Media We Trust It Demands a Reinvention of the Entire Organization
    4. 4. In Social Media We Trust It Demands a Reinvention of the Entire Organization “Human Beings are Powered by Emotion, Not by Reason” ♥
    5. 5. 4
    6. 6. “Trademarks are owned by companies who create them.” 4
    7. 7. “Trademarks are owned by companies who create them.”“Lovemarks are owned by the people who love them.” —Lovemarks: The Future Beyond Brands, Kevin Roberts 4
    8. 8. What’s Happening Online?
    9. 9. What’s Happening Online?• 1.73 Billion People Online• 55 trillion links between all of the pages in the Internet world• 2.5 million emails sent every second• 9 trillion chat messages sent every day• 61% of mobile Web page views are served by social networking sites• 110 trillion searches via the internet in 2010 • Just for Google!
    10. 10. The Internet is only 5000 days old
    11. 11. Where Are We At?
    12. 12. • Web 1.0 Where Are We At? • Static websites • One-way communication • Corporate voice
    13. 13. • Web 1.0 Where Are We At? • Static websites • One-way communication • Corporate voice• Web 2.0 (Social) • Interactive • Two-way dialogue • Collaborative • Mobile
    14. 14. • Web 1.0 Where Are We At? • Static websites • One-way communication • Corporate voice• Web 2.0 (Social) • Interactive • Two-way dialogue • Collaborative • Mobile• Web 3.0 • Real Time information quicker • Semantic Computing - computers thinking for us
    15. 15. Where do we want to be?
    16. 16. You want to create... Talkable Brands
    17. 17. Relationships Trust WordTransparency of Emotional Ties Mouth Community Familiarity
    18. 18. WOM & Social MediaIt is a Dialogue Not a Monologue. 7
    19. 19. Social Media marketing spending will reach $3 billion by 2013 - WOMMA
    20. 20. Typical American mentions a specific brand, company, ororganization 60x per week in online and offline conversations -Keller Fay (2010)
    21. 21. Make Your Ears as Large as Possible 9
    22. 22. Don’t Stop Listening Because You Don’t Like What You Hear 10
    23. 23. Create a Chief Listening Officer position...
    24. 24. What will you hear?
    25. 25. Give Your CommunityReasons to You “They like me! They really like me!” 12
    26. 26. We have to move from okay to... WOW !
    27. 27. Want to get noticed? Don’t just replicate. Innovate!
    28. 28. 4 E’s of Social Media Engage Educate Excite Evangelize
    29. 29. Word Of Mouthis the primary factor behind 20% - 50% of all purchase decisions. -McKinsey Quarterly, April 2010
    30. 30. “It’s not about eyeballs and ears,but hearts and minds.” - Jeffrey Hayzlett (Kodak)
    31. 31. Tell & Share Stories....help clients tell your stories
    32. 32. moments that are shared have power -
    33. 33. Stop thinking like a marketer andadvertiser and start thinking like a publisher and socializer
    34. 34. You can’t just say your social... You have to Do It!
    35. 35. Purchase is not the end of the sales funnel... brand advocacy is.
    36. 36. Success isn’t about getting somebody to buy something...it’s somebody to advocate for you. -Steve Knox P&G
    37. 37. There is a major difference betweenCampaigns and Movements
    38. 38. Campaigns have a start and an end... Movements Continue -Brains on Fire
    39. 39. 92% of word of mouth happens offline.
    40. 40. Over 90% of all consumer decisions are due to a positive recommendation from someone they trust -Dr. Walter Carl
    41. 41. Customers & Clients acquiredthrough WOM generate 2x morerevenue that customers from traditional marketing channels
    42. 42. What creates buzz? Stories not slogans.
    43. 43. Stories are Everywhere
    44. 44. Tell a Compelling Story 20
    45. 45. What Social Networks are out there?
    46. 46. • #1 social networking site on the web Age % of Users 18 - 24 29.22%• Almost 600 million active users worldwide in January 25 - 34 24.70% 2011 35 - 44 20.10%• Over 175 million users in U.S. alone 45 - 54 16.97% 55+ 9.01%• Average user spends at least 65 minutes on Facebook per day Gender % of Users Male 45%• Organizations can create Business Pages in which Female 55% customers or future customers can become fans (now “likes”) and interact with your page by leaving comments, posting pictures, sharing comments 1 Courtesy of Quantcast.com
    47. 47. • #1 social networking site on the web Age % of Users 18 - 24 29.22%• Almost 600 million active users worldwide in January 25 - 34 24.70% 2011 35 - 44 20.10%• Over 175 million users in U.S. alone 45 - 54 16.97% 55+ 9.01%• Average user spends at least 65 minutes on Facebook per day Gender % of Users Male 45%• Organizations can create Business Pages in which Female 55% customers or future customers can become fans (now “likes”) and interact with your page by leaving comments, posting pictures, sharing comments 1 Courtesy of Quantcast.com
    48. 48. F est as t g! G ro win• #1 social networking site on the web Age % of Users 18 - 24 29.22%• Almost 600 million active users worldwide in January 25 - 34 24.70% 2011 35 - 44 20.10%• Over 175 million users in U.S. alone 45 - 54 16.97% 55+ 9.01%• Average user spends at least 65 minutes on Facebook per day Gender % of Users Male 45%• Organizations can create Business Pages in which Female 55% customers or future customers can become fans (now “likes”) and interact with your page by leaving comments, posting pictures, sharing comments 1 Courtesy of Quantcast.com
    49. 49. Engage with Fans 2
    50. 50. Give Them Options 3
    51. 51. Let Them Talk 4
    52. 52. Provide Quick Responses 5
    53. 53. 6
    54. 54. is becoming the new traditional media
    55. 55. 81% of Gen Yers Use Facebook Daily. Nearly 2x the number who watch TV or read the newspaper.
    56. 56. • 113 million users a month (July 2010) Age % of Users 13 - 17 15%• 2 billion videos are viewed per day 18 - 34 33%• 75% of Americans watched an online video last 35 - 49 26% month 50+ 20%• 60% of users are more affluent ($60k or more per Gender % of Users year) Male 50% Female 50%• Companies can link to their consumers very personally and provide short, compelling videos, introducing themselves, products, events, etc.• The reach is considerable when videos spread virally Nielson/NetRatings, US only, February 2010 and through email, websites, other media platforms YouTube.com Courtesy of Quantcast.com
    57. 57. Social Media is not free. You pay for it...in time, energy and effort.
    58. 58. Storytelling creates a tribe.Tribes are more valuable than customers
    59. 59. It’s not just about influencers... It’s about passion.
    60. 60. Trust your brand Tell your storyBelieve in yourself Have fun
    61. 61. This leads to great conversations.
    62. 62. 15% of people’s conversations in any given day include a reference to a brand, product, or service. -Dr. Walter Carl
    63. 63. Listen to the Conversations 13
    64. 64. Set the Proper ToneContent Conversation Correspondence 27
    65. 65. • Social networking site that acts as a news feed limited to 140 charcters Age % of Users 13 - 17 12%• 190 million Twitter members sending 65 million 18 - 34 35 - 49 44% 25% tweets per day 50+ 15%• 29% of users earn $100k or more per year Gender % of Users Male 46%• Twitter can be used to provide short messages Female 54% about industry trends and new pension and financial regs. Courtesy of Quantcast.com
    66. 66. L e t ’s oo k @L w it te rT
    67. 67. Help Them Find Their Way Back Home
    68. 68. When it comes to Marketing... Twitter Destroys FacebookFacebook makes up 78% of all social media traffic. Twitter only makes up 5%. Despite the market Researchers found that share, a study by Social Facebook’s shared links Twist says using Twitter average only 3 clicks, while for marketing is the Twitter’s embedded tweets better bet. generate 19.
    69. 69. Users Have Changed in 2010•21% of Twitter users now follow more than 100 people— that’s up from 7% last year — and 16% now havemore than 100 followers•Twitter users in 2010 were much more likely to provide abio (69%), detailed name (73%), location (82%) andwebsite URL (44%) as part of their public profiles. All ofthose percentages are more than double what they were in2009.•80.6% of Twitter users have made fewer than 500tweets, which likely points to the relative newbie status ofthe average Twitter user.
    70. 70. Users NowWant You to Know...
    71. 71. Where They Are
    72. 72. Who They Are
    73. 73. And What They Are All About.
    74. 74. Influencers are not simply people who have lots of friends...
    75. 75. Influencers are only influential if they change people’s behaviors.
    76. 76. Viral Brand Awareness• You Don’t Own Your Brand –They own your brand• Who are they??? –Customers –Users –Lovers –Haters –Competitors –The People of Earth
    77. 77. Create Contagious Content
    78. 78. Consumer Generated Media
    79. 79. Consumer Generated Media• CGM
    80. 80. Consumer Generated Media• CGM – Diet Coke / Mentos
    81. 81. Consumer Generated Media• CGM – Diet Coke / Mentos
    82. 82. Consumer Generated Media• CGM – Diet Coke / Mentos – 7.4 million views on You-Tube
    83. 83. Consumer Generated Media• CGM – Diet Coke / Mentos – 7.4 million views on You-Tube – Sales of Mentos up 14.5% in 2006
    84. 84. Consumer Generated Media• CGM – Diet Coke / Mentos – 7.4 million views on You-Tube – Sales of Mentos up 14.5% in 2006• Coke’s reaction
    85. 85. Consumer Generated Media• CGM – Diet Coke / Mentos – 7.4 million views on You-Tube – Sales of Mentos up 14.5% in 2006• Coke’s reaction • Cease & Desist
    86. 86. Loyalty isn’t enough...Goal should be “user contribution”
    87. 87. • Over 80 million registered users and 1.7 million visits Age % of to the site per day 13 - 17 2%• A virtual business card rolodex. With all of your 18 - 34 26% contacts on one page you can connect with past, 35 - 49 38% present, and future clients and suppliers very easily 50+ 33%• Is unmatched with any other social networking site in connecting businesses or professionals to one another Gender % of Users Male 48%• More than 76% of users are college educated with Female 52% 70% of it’s users earning $60k or more per year• LinkedIn can be utilized for referrals or to build creditability Courtesy of Quantcast.com
    88. 88. If You Are NotYou Might Just Be Locked Out!!!
    89. 89. Build Relationships Blog for us!We’ll make it worth your while. 36
    90. 90. 113 million US Internet Users Read Blogs +10% vs. 2009 eMarketer
    91. 91. Companies that blog have 2x the number of inbound links vs. companies that don’t blog - Hubspot
    92. 92. Build Relationships 37
    93. 93. Corporate Blog
    94. 94. Corporate Blog• Provides steady stream of anticipated new content to your target audience• Creates an interactive, live personality to the company, not just a static corporate feel• Enables the content to be picked up by blog feeds and consumers, it heightens awareness of the company• Creates transparency• Builds relationships• Easily incorporated into other platforms
    95. 95. Blogs and your Brand• 81% of online searchers read blogs – 53% read them weekly – 70% of the 53% pass the information on to others• Should you write your own Blog – Okay if you are transparent – Absolutely not acceptable if through subterfuge – Wal-Marting Across America
    96. 96. Other Great Ideas!
    97. 97. Other Great Ideas! ★Alternative WOM Channels
    98. 98. Other Great Ideas! ★Alternative WOM Channels ★Branded Content
    99. 99. Other Great Ideas! ★Alternative WOM Channels ★Branded Content ★QR Codes
    100. 100. Other Great Ideas!
    101. 101. Other Great Ideas! ★Alternative WOM Channels
    102. 102. Other Great Ideas! ★Alternative WOM Channels ★Branded Content
    103. 103. Other Great Ideas! ★Alternative WOM Channels ★Branded Content ★QR Codes
    104. 104. Other Great Ideas! ★Alternative WOM Channels ★Branded Content ★QR Codes ★Connection Cards
    105. 105. Other Great Ideas! ★Alternative WOM Channels ★Branded Content ★QR Codes ★Connection Cards ★Slideshare
    106. 106. Other Great Ideas! ★Alternative WOM Channels ★Branded Content ★QR Codes ★Connection Cards ★Slideshare ★Scribd
    107. 107. 86 million US mobile Internet users in 2010 +25% vs. 2009 eMarketer
    108. 108. 50% of Americans will have smartphones by 2013
    109. 109. How’s your mobilestrategy coming along?
    110. 110. The Way We Connectis Changing 46
    111. 111. The Way We Connect isChanging… Really Fast! 47
    112. 112. How will being socialBenefit Your Organization? ✓Transparency ✓Engagement ✓Collaboration
    113. 113. Marketing Without Marketing: A Brand Hijack ManifestoLet go of the fallacy that your brand belongs to you. It belongs to the market.Co-create your brand by collaborating with your customers.Scrap the focus groups, fire the cool chasers, and hire your audience.Help your influential & passionate customers spread your brand story.Be patient. Your brand initiative could take years – or weeks – to take off.Be flexible. Carefully plan every step, but be totally open to having the story rewritten along the way.Lose control. Free yourself to seize sudden opportunities that only last for moments.Resist the paranoid urge for consistency. Embrace the value of being surprising and imperfect.Respect your community. Draw the line between promotion and advertising. Let the market hijack your brand! 49
    114. 114. Thank you! Questions?joelwarady joelwarady @joelwarady joel@joelwarady.com

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