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Bursting social media bubbles
 

Bursting social media bubbles

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From Augie Ray: ...

From Augie Ray:

This is my keynote presentation from the 2012 PR & Social Media Summit. My decks are not produced for download but to be presented. With layers and animation, they tend not to stand alone very well as a SlideShare deck rather than presented live with the talking points. Still, I hope you find this deck useful and interesting. Key points:

- The time has come for us to throw away the simple concepts (or "bubbles" that we continue to rely upon in marketing PR and social media.

- For example, if the consumer is in control, then social media cannot be a marketing medium. The data presented demonstrates why.

- Social CAN be a marketing medium, but it's really a marketing medium. Meanwhile, the consumer may be more in control than ever before, but they don't foot the bill in social media, which give brands and social networks power. Neither of the first two bubbles is completely correct--we need to pop both, bring them together, and recognize that social is a medium for value, not messages, and brands need not fear empowered consumers but work mutually with them.

- The next bubble to be popped is the insane chase for fans and engagement of any sort. We explore the way Facebook EdgeRank works and why it is useless to collect any fan via any means. Instead, focus on fans that have built-in affinity (or the potential for it.) If you don't have affinity, your content won't appear in fans newsfeeds, and that means you become invisible.

- We explore Progressive's fan page for Flo, which looks like a success but all those fans and all that engagement couldn't help protect Progressive from its recent social media reputation event. The lacking ingredient is brand vector--moving consumers closer to the brand and not just collecting engagement for engagement's sake.

- The next section of the deck explores the "social media crisis," a term that is thrown around much too loosely, As demonstrated, brands like United, NBC and Bank of America suffered from highly visible social media crises, yet their stock shows no sign of damage.

- We need to stop being alarmist and over-selling the "social media crisis." Yes, these are significant events, just like a broken bone is a significant event--but no one calls a broken bone a crisis. As professionals, the time has come to prevent, manage and minimize social media crisis just a a doctor treats a broken bone, without the added hysteria of treating everything like a "crisis."

- Lastly, I remind people to get out of the industry bubble every now and then. I use a "mom rule" (but your rule may be a "uncle rule" or "grandma rule"). By using this persona, it helps me to evaluate the things that will rapidly catch on (Pinterest, for example) fr

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  • http://blog.nielsen.com/nielsenwire/media_entertainment/consumer-trust-in-online-social-and-mobile-advertising-grows/
  • Earn (left): Product & service experience; brand; your mission; what you stand for; how you conduct businessImprove the experience, engage, accelerate, create awareness and WOM, build programsEarn (right): Product & service experience; design; brand; your mission; what you stand forImprove the experience, engage, accelerate, create awareness and WOM, build programs
  • JD Power StudyBrand #2 has many times more conversations about using, choosing and recommending.Brand #2 and #3 have almost identical engagement, yet Brand #2 has twice as much discussion about not using, dropping and not wanting.
  • Comedian Matt Fisher
  • A matter of balance—quality and quantity. Fans and affinity. Fun and games with mission critical information. Short-term sales and long-term relationship building.
  • NBC’s coverage started on a sour note when they chose to cut a performance honoring victims of London’s terrorist bombing in favor of an interview with Michael Phelps.NBC ignored possibly the most heartrending moment of the Olympics when a South Korean fencer refused to leave the playing surface after being stripped of her chance for a medal by a judge’s timing error.Then there were the constant complaints in social media about the tape delay and how people found out about results before they could even view them on NBC.Let’s not forget the constant complaints about the number of commercials.Then there was the social uproar when NBC worked with Twitter to ban a vocal critic whose crime was to tweet a business email that could already be found on the web. Mass media started piling on.The result? Radian6 reported negative sentiment about NBC was twice as large as positive sentiment. Photo:http://www.flickr.com/photos/mikerolls/7742549292/
  • Made Guy Fawkes cry!http://www.google.com/finance?chdnp=0&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1333051200000&chddm=49266&chls=IntervalBasedLine&cmpto=INDEXDJX:.DJI&cmptdms=0&q=NYSE:BAC&ntsp=0&ei=BsJdUMA-yKjQAZh3
  • Dug from the movie “up,” easily distracted by squirrels.One week—ONE WEEK!Slate Magazine labeled “Social Media Hell.”Photo: http://www.flickr.com/photos/rearl/206756985/

Bursting social media bubbles Bursting social media bubbles Presentation Transcript

  • Time for Maturityin Social Media Augie Ray Director of Social Media Prudential
  • Social TheMedia is a ConsumerMarketing Is InMedium Charge @augieray #prsms
  • Social TheMedia is a ConsumerMarketing Is InMedium Charge Source: 2012 Nielsen Global Trust in Advertising report, 28,000 Internet respondents in 56 countries @augieray #prsms
  • ocial 71% watch more Thedia is a time-shifted TV Consume than they did a yeararketing ago and 96% fast Isedium forward through Charg DVR ads. Source: TVGuide.com Fall 2011 TV User Survey, October 2011; 5897 Participants @augieray #prsms
  • la is a Consetingum Ch Source: 2012 IBM Institute for Business Value Beyond Digital Report @augieray #prsms
  • 51% of consumers expect that a a “like” will result in marketing Co communications from brands...ng But 40% do not believe it should result in marketing communications. Source: Exact Target, Subscribers, Fans & Followers Study, 2011 @augieray #prsms
  • Social Social media is TheMedia is a medium where a Consumer value is exchangedMarketing Is InMedium and relationships Charge are created mutually. @augieray #prsms
  • The Value ofFans and Engagement @augieray #prsms
  • More Survey:FansQuick Facebook Fewer Facebook Fans Fewer Facebook Fans More Facebook Fans @augieray #prsms
  • More Survey:FansQuick Facebook Fewer Facebook Fans Less Engagement More Engagement @augieray #prsms
  • Look! A Fan Surge!170,000160,000 Bank Transfer Day150,000140,000 11/19130,000 159,577120,000110,000100,000 10/22 90,000 66,353 80,000 70,000 10/20 10/23 10/26 10/29 11/1 11/4 11/7 11/10 11/13 11/16 11/19 @augieray #prsms
  • All Fans are Not Created Equal High Value Fans Low Value Fans+$ -$ @augieray #prsms
  • The Simple Facebook Equation FansA * ∑ Ue We De = Success @augieray #prsms
  • All Sources are Not Created Equal Earn Pay Earn• Product & Service Experience • Product & Service Experience• What you stand for • What you stand for• How you conduct business • How you conduct business @augieray #prsms
  • The (Slightly Less)Simple Facebook EquationFansA * ∑ Ue We De * b = Success @augieray #prsms
  • Look! Lots of Engagement! Total Insurance Conversation Percentage of Social Media Volume by Brand Conversations by TopicCompany #1 Use/Choose/Company #2 Recommend SwitchCompany #3 Not use/Drop/ Not WantCompany #4 0% 20% 40% 60% 80% 100% @augieray #prsms
  • Progressive’s Fan Success ∑FansA * likese We Dtalkingb = this 4,501,045 U 52,530 e * about Success @augieray #prsms
  • The winner isn’tthe brand with themost fans orengagement.It’s the brand withthe most valuable fans having the most meaningful engagement. @augieray #prsms
  • The DisastrousSocial Media Crisis @augieray #prsms
  • @augieray #prsms
  • @augieray #prsms
  • • Set the record for most-watched • NBC anticipated losing $200 television event in US history. million on the games but instead• Earned higher average prime-time broke even due to higher-than- audience than the Summer Games expected ratings and ad in either Beijing or Athens. revenue. @augieray #prsms
  • @augieray #prsms
  • Bank of America reversed the debit card fee! 650,000 new credit union members!Credit unions earned $4.5B in new deposits! @augieray #prsms
  • Six months after fee announcement…BoA stock up 55%, outperforming DJIA 280%!Average deposit balances up $25 billion in Q4! @augieray #prsms
  • cri·sis noun ˈkrī-səsan unstable or crucial time or state of affairs in which a decisive change is impending;especially : one with the distinct possibility of a highly undesirable outcome. @augieray #prsms
  • TheSocial Media Industry Bubble @augieray #prsms
  • Social Media Echo Chamber Blogs Twitterers Research News Apps Feeds News Groups Conferences @augieray #prsms
  • The Mom Rule Would my mom do this? @augieray #prsms
  • The Mom Rule Would my mom act on this? know this? @augieray #prsms
  • Keep popping bubbles orsomeone will pop them for you. Keep blowing bubbles—the world needs more bubbles! @augieray #prsms
  • Thank YouAugie Ray@augieray @augieray #prsms