Transcript of "Demystify social media & business benefits 21 apr"
Demystifying Social Media &How Your Business can Benefit from it <br />1<br />
Truth #1 : Internet Usage in Singapore is Rising Exponentially <br />2<br />80% Broadband penetration<br />
Truth #2 : At the expense of TV Airtime Ratings and Print Readership<br />3<br />
Truth #3 : Singapore Users are into Social Networking<br />4<br />Projected Exponential Growth<br />Facebook Growth : <br />250% in 2 years <br />495K (‘08) to 1.7M (‘10)<br />Facebook Chart by Willis Wee, Penn Olsen<br />
Truth #4 : It’s not just Gen Y anymore<br />5<br />The 2010 digital marketer: Benchmark and trend report – Experian Marketing <br />
Truth #5 : The customer is king… and is now a lot more marketing-aware and better networked.<br />6<br />Ads are blind spots.<br />Through the Internet, people are discovering and inventing new ways to share relevant knowledge with blinding speed. <br />As a result, markets are getting smarter, more informed, more organized. <br />People in networked markets have figured out that they get far better information and support from one another than from vendors. <br />There are no secrets. The networked market knows more than companies do about their own products. And whether the news is good or bad, they tell everyone.<br />7 of the top 10 markets that rely most on ‘recommendations from consumers’ hail from the Asia region. <br />
Truth #6 : Word of Mouth = Word of Mouse∞<br />7<br />
Truth #7 : Digital Experience influence Purchase Decisions<br />65% of consumers report having had a digital experience that either positively or negatively changed their opinion about a brand. <br />97% say that their digital experience influenced whether or not they eventually purchased a product or service from that brand.<br />Source : 2010 Razorfish Digital<br />Digital is not only a place to build a brand: it can also make or break it.<br />8<br />
9<br />Truth #8 : Customers want to be Brand Insiders<br />
Truth #9 : The Business Environment has Evolved<br />10<br />Marketing budgets are shrinking and ROI now includes customer loyalty metrics.<br />Your customers are now more fragmented than ever. <br />A lot less trust in Corporations this year.<br />Enterprise 2.0 :<br />Your brand is controlled by your stakeholders who are all part of a social community <br />
Truth #10 : Enterprise Social Media is Trail Blazing in the US<br />interactive marketing spend will trend up from 12% today to 22% in the next five years. Dollars will shift from traditional marketing and advertising channels into social media, email and mobile marketing<br />11<br />70% Plan to invest in improving their company website functionality within next year<br />Source : The “2010 Business Website & Internet Usage Survey” – Strategic Vision LLC. (AIS Media)<br />Social Media Marketing : CAGR 34%<br />Forrester Research - “US Interactive Marketing Forecast, 2009 to 2014,” <br />
A quick check list - how critical is Social Media to your business<br /><ul><li>Is your product sensitive to consumer perception?
How complex is your product, that depends on knowledge and in-depth understanding to purchase?
Are your targeted customers online most of the time?
Do you plan to expand regionally</li></ul>12<br />The more affirmative answers to this checklist, the more critical social media is to your marketing & corporate communications mix<br />
Defining Social Media<br />13<br />Participatory communications, building communities, P2P communications, word of mouth<br /><ul><li>Network-based applications, channels, platforms, communities, user-generated content </li></ul>Democratization of content production & distribution<br />
Make no mistake… the internet is now a media platform<br />14<br />
15<br />but it is a different creature from its mass counterpart<br />
Today, the Digital Revolution has changed personal communications<br />17<br />
Yet corporate communications have yet to evolve…<br />18<br />
To compound the problem, in most Asian businesses – ‘FACE’ is of the utmost importance. Apologies are last resorts.<br />19<br />
BUT whether you like it or not, your customers are talking about your brand, products, customer service… with or without your participation<br />20<br />
Yes… the Challenges of Social Media Adoption are Real<br />Measurement<br />Efficiency<br />Resources<br />Source : Social Media for Marketing Survey Results - March Second, Inc. May ‘09<br />
FEAR NOT! The fundamentals remain unchanged…<br />"Over and over again, connecting people with one another is what lasts online. Some folks thought it was about technology, but it's not.“<br />Seth Godin<br />Image: http://www.gapingvoid.com/<br />
Some customers can be real idiots, but if you remain true to your values of transparency and being genuine… you have nothing to fear.<br />23<br />
25<br />Crafting the Social Media Plan and Putting it to Work<br />
Start with the business objectives <br />Define your objectives<br />Define the audience you are targeting<br />What’s the overall message and media strategy<br />What is the social media strategy<br />What are the key measurements of success<br />Based on the corporate risk appetite, shape the engagement and campaign accordingly<br />26<br />
Management Support is Critical<br />Get buy-in and an agreement on the approach<br />Determine the drivers and stakeholders<br />Determine the rules of engagement<br />Provide training, allow feedback and explain implementation<br />Mobilize the other cogs in the corporate machinery around your social media efforts<br />Plug the gaps in customer feedback and management decision making<br />Remember to update the customers on status<br />Shout about implementation or actions taken<br />Time to get the pieces together – customer support, product marketing, product<br />27<br />
“Putting the public back into PR”*<br />Staff empowerment, provide them training and rules of engagement<br />Build channels that is centered on relations with customers – talk with them<br />Sustain conversations between product campaigns<br />Connecting with enthusiasts<br />Maintain your share of voice<br />Work with bloggers and create a network of influences, brand advocates and fans<br />Leverage on their voices<br />It is really ok to say sorry.<br />When complaints are handled well, customer satisfaction and loyalty skyrocket.<br />28<br />Tonality <br />Go for :<br />Collaboration<br />Openness<br />Dialogue <br />Avoid :<br />Domination<br />Control<br />Monologue<br />* Brian Solis<br />
Example of Proactive and Timely Responses - Winning difficult customers over, win fans in the longer run<br />29<br />www.brooksrunning.com <br />
Genuine and timely responses – it’s ok to say Sorry<br />30<br />www.hungrygowhere.com<br />
Evolution of Corporate Web Presence<br />31<br />Brand driven lifestyle websites<br />Community engagement CSR websites<br />The Irrelevant Corporate Website<br />Graphic By Jeremiah Owyang (Web Strategy)<br />Dell engages customers for product improvement ideas<br />Brand conversations on popular Social Media Sites<br />
Building & Managing Communities<br />Listen to/observe what the target audience is doing in social media<br />Create a “social object” that is relevant to the brand and of genuine interest<br />Start where your brand advocates and fans are the most passionate about <br />Focus on your customer’s needs. Focus on answering the question, “Why would consumers form a community around our brand?”<br />Think like a contributor, not a marketer or sales person<br />Foster many-to-many relationships. People need to interact with each other and not simply “the brand”.<br />Share “insider” information and offer a preview of what new products are being developed.<br />If a company's brand community restricts discussions, unhappy customers will simply go to one of dozens (and for many brands, hundreds) of enthusiast-run communities and vent just as much. The company loses the opportunity to gain insight from customers with potentially valuable criticisms.<br />32<br />
Engaging your brand advocates<br />33<br /><ul><li>Reached out to those who are listening and let them do the talking for you and to connect with people like themselves
Foster peer celebrity. Advocates love it when others recognize their expertise, experiences, and passion.
Let your advocates advocate. The only way to inspire your best advocates is to let them work their magic without interference except in issues of ethics and legality. Your advocates are not pawns—they are your partners, so treat them that way.</li></ul>Social Technographics of Users<br />Source : Groundswell - Josh Bernoff and Charlene Li <br />
Tell Your Story and let your customers tell theirs…<br />34<br />www.fordvehicles.com/mustang/<br />
Even if it’s just in photos… remember it is all about their passion for your brand and products<br />35<br />http://artofthetrench.com/<br />
Create & Sustain Your Company Blogs<br />"Tell stories" <br />"Don't just re-purpose your standard marketing messages and turn your blog into a marketing vehicle."<br />"People want to develop relationships with the businesses they patronize. The more you can share your stories, the more you give your customers access to the inside and allow them to get to know you."<br />"A blog gives you the opportunity to be more human and less corporate.“<br />“Business blogs should have multiple authors, ideally people in different parts of the company, to give a rich, multi-dimensional sense of a company and its brand. "Business blogs shouldn't have a single 'company' voice," <br />"To be compelling, they have to be personal and human."<br />"Before your blog goes live, you want everyone in the company to be on board... Create sample posts; critique each other. Have the legal department get comfortable with it. Don't go live until everyone is ready."<br />36<br />Kasey Kersnowski, Editor, Patagonia.com<br />
37<br />Engage & Connect with your Customers – Multiple Touchpoints<br /><ul><li>Socialize your website with multiple social media touch points – setup & design for company blog, Facebook page, Twitter and widget.
Empower your marketing/PR team to publish regular articles, photos and videos to your company blog, Facebook page, Twitter, company widget and more.
Engage your customers – update them on your latest promotions, sales, company history, product development, etc.
Enable your customers to provide feedback, insights and great ideas/suggestions to improve your service and products
Reach out and grow your brand awareness to international markets</li></li></ul><li>Integration with Off-line Marketing<br />38<br />
Monitor, Track and Report<br />Web Analytics<br />Google Analytics<br />Wordpress Analytics<br />Social Media Monitoring<br />Collecta<br />Social Mention<br />Tweeter Analytics<br />Tweetanalyzer<br />Tweeteffect<br />All-in-one Social Media publishing & Analytics<br />pepperconn Social Media Groupware<br />39<br />
7. You have to invest time and resources<br />Invest time and human resource to build consistency, loyalty<br />Use tools to mitigate the extra load<br />technology is ONLY a means to an end…<br />90% of social media is just showing up. It’s the other half that’s hard<br />40<br />
OSIM corporate website <br />Unique visitors & Traffic increased by 100% in 2 months<br />
Lifestyle Blog Advertorials : Rubbermaid<br />51<br />
52<br />Lifestyle Blog Advertorials : Rubbermaid<br />
Crowdsourcing Ideas : My Starbucks Idea<br />53<br />
DELL Idea Storm<br />54<br /><ul><li>At start of program, 49% of blog posts were negative. Today, overall tonality is 22% negative.
Direct2Dell currently ranked about 700 on Technorati, among the highest corporate blogs.
Direct2Dell gets more than 5 million unique views per month
Over 7000 ideas have been submitted via IdeaStorm</li></li></ul><li>Reebok<br />55<br />
Community Support : Being a Girl (P&G Whisper)<br />56<br />
“In its earliest days, there was a face associated with Ford. In recent years, not so much.<br />We realized that with social media, we had an opportunity to begin to humanize the company.”<br />57<br />“People don’t talk to brands, they talk to people.”<br />Scott Monty, Head of Social Media, <br />Ford Motor Company<br />
“People don’t talk to brands, they talk to people.”<br />Strategy: to humanize the company by connecting consumers with Ford employees and with each other when possible, providing value in the process.<br />Accessibility<br />Authenticity<br />Transparency<br />
Parallels with “Parents on Facebook” Debate<br />64<br />At the heart of the issue is usually a non-web (human) related factor : <br />Communication<br />Mutual respect<br />Trust<br />
65<br />What going social really means for your business – Building a relationship with your customers<br />Participation<br />Authenticity<br />Transparency<br />Connectedness<br />Collaboration<br />Immediacy<br />Reference :Joel Postman – SocialCorp : Social Media Goes Corporate Postman<br />