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Viapoint at SMWF

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Market segmentation: how does it work with online social networks? ...

Market segmentation: how does it work with online social networks?

Paul Fennemore, Managing Director, Viapoint and Researcher and Lecturer, Henley Business School

http://www.socialmedia-forum.com/europe/

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Viapoint at SMWF Viapoint at SMWF Presentation Transcript

  • Market segmentation:how does it work with onlinesocial networks? stand 28 •No hype, no unfounded opinion #viapointsmwf •Based on objective research paul.fennemore@viapoint.co.uk @paulfennemore T: 0845 319 3707 M: 0777 5823386
  • 1. Do traditional market segmentation practices cross over ?2. Are there new market segments emerging that we need to tap into3. What’s working and what’s not working
  • The past was about one to many and shouting the loudest
  • Marketing Practices Need Changing?× Click thru banner ads decreasing – 30% p.a. (av: 0.05%)× Radio listeners down – 14%× TV ad spending down – 14%× US print advertising down – 30%× Online engagement down - 19% H1 2011 UK
  • Is basic, static demographic segmentation becoming less useful? Consumers /buyers are more: •Travelled •Mobile •Informed •Influenced •Visible Broadcasting Engagement•Static demographic segments •Dynamic –Anywhere Transitioning –Anytime –Real-time –Interactive•Presumed characteristics –Multimedia •Actual behaviour
  • The Variation of Segmentation Adoption Expertise & Resources Demographics. Psychographics Demographics. Syncrographics Psychographics Webographics Personas Demographics/ Firmographics #customers + #product variations = #segments & sophisticationTrends: • Viewed as increasingly important • Using ‘trial and test’ strategy •The view that basic and static segments are becoming less valuable
  • Social Commerce Adoption Framework Leadership Strategy Integrated Governance Resources Communities Content SocialCRM Strategic TacticalExperimentalSource: ©Paul Fennemore, Viapoint 2011
  • True Profile Data Sources
  • Segment Push vs. Segment Pull Segment 1 Segment 2 Segment 3Not targeted Targeted Not targeted Target Segment OnlyDisaffected Attracted Neutral response response response Attracted Segment Pull Traditional Targeted Segment Only Segment Push Broadcasted Social Network messaging Community of Interest Source: ©Paul Fennemore, 2011
  • Social Network Engagement Continuum Conversations Cost /Time Broadcasting One to Many One to One Lower Higher Lower Engagement Higher Prioritisation of Engagement Points •Demographics •Psychographic •Online •Social Capital •Heterogeneous segmentation communities •Creators market segments •Homogeneous groups •eInfleuncers •Interest groups •Brand evangelists •Community evangelists •Unhappy customers •Trolls?Source: ©Paul Fennemore, Viapoint 2011
  • Consumer Power “They choose how they want to be Find where treated” existing segments Media Type congregate Owned, Bought, e.g. Surfers, Bands, Earned Mums, Health, IT Earned Engagement Social MediaPsychographics/Socialgraphics Segmentation Segmentation Strategies PullAttitude, Opinions, Interest, Actions, Creating own Passion Points, community of Motivation, common interest ‘Likes’ User Participation RFM, Curators, Producers, Social Network Commentators, Sharers, Platforms Watchers. Advocates/detractors Each is a different Facebook Fans, LinkedIn segment variable. Groups Google+ Circles
  • Conclusions in Summary1. Traditional segments do cross over2. New segments are emerging3. One to one engagement on-mass is not practical4. Consumer empowerment5. CRM and SocialCRM integration6. Success is determined by social commerce philosophy and strategy
  • RecommendationsGeneral Segmentation Strategies•Integrate segmentation, insight and social media operations and strategies•Ensure social team is trained on segmentation practicesCRM Data Collection and SocialCRM•Use KPI’s to decide what data to harvest – but not standalone KPI’s•Use for segmentation - Socialgraphics, AIO’s, influencers and detractors•Avoid silos of data – merge data sets•Acquire consumer social network ID’s and correlateSocial Media Segmentation•Review segmentation strategy in light of social networks•Indentify existing and new segments in online social networks•Use segmentation pull approach•Apply engagement continuum to decide on engagement points•Use to engage with ‘Long Tail’ segments•Integrate with new social marketing practices e.g. SIM, community and conversation marketing
  • strategy managed services training & employee workshops collaborationyour social media: viapoint’s expertiseViapoint is unique. We are social media, social • effective social media strategiescommerce and social business specialists from theground up. Our e-business, digital marketing and Web • productive social media operations2.0 technicians have deep practical and academic • sensible governanceexpertise with a powerful blend of creativity and • practical traininginnovation. We deliver results, we deliver added valueand we make social media work.viapoint: 0845 319 3797 info@viapoint.co.uk www.viapoint.co.uk @viapointuk