Amsterdam Conference 2009

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  • 1. Social media makes cowboys of us all …or why social media is ignored at your peril Steve Virgin, Media Consultant Dow Jones 18 March © Copyright 2008 Dow Jones and Company, Inc.
  • 2. Headlines speak of Economic mayhem As credit dries up companies collapse and jobs are lost in their tens of thousands © Copyright 2008 Dow Jones and Company, Inc. |
  • 3. But…some smaller sectors are roaring forward • Sales up 118% over the key Christmas period • Profits on target for 2009 • Selling clothing online was said to be ‘impossible’ © Copyright 2008 Dow Jones and Company, Inc. |
  • 4. Brands with broader ‘all-family’ appeal are bringing in more users than ever more Source: Sydney Morning Herald © Copyright 2008 Dow Jones and Company, Inc. |
  • 5. Consumers are in control – and smart companies know that © Copyright 2008 Dow Jones and Company, Inc. |
  • 6. If it is ‘convenient’ and they ‘trust it’ – consumers will buy it • Convenient • Launches streaming to TV service in US in May 2008 • DVDs posted to your home • 9.4m subscribers – revenues up 13% in 2008 • Ordered online © Copyright 2008 Dow Jones and Company, Inc. |
  • 7. In the UK more people use social networking sites than they do email + the profiles are getting older © Copyright 2008 Dow Jones and Company, Inc. |
  • 8. Social media is not a channel to reach consumers, it is a channel they will use to reach you © Copyright 2008 Dow Jones and Company, Inc. |
  • 9. We could be seeing the start of exciting new business models transforming sectors © Copyright 2008 Dow Jones and Company, Inc. |
  • 10. And a revolution in some sectors – as advertising moves more and more online © Copyright 2008 Dow Jones and Company, Inc. |
  • 11. New social media models claim - ‘we never produce a flop’ as our customers are designing what they want © Copyright 2008 Dow Jones and Company, Inc. |
  • 12. Our purchasing behaviour is now instinctively interactive in most cases – in the UK  73% compare prices on white goods  well over two thirds compare prices on mobile phones, cars and televisions/DVD players  approximately 1 in 10 discussed their purchases with others seeking advice  well over half across all product categories researched online the product that they eventually bought.  85% who were car buyers did their research online  75% who were PC purchasers did their research online Source: TNS © Copyright 2008 Dow Jones and Company, Inc. |
  • 13. We are all doing it – and we don’t even realise • We are all in the process of taking the web and social media to our hearts and reshaping it to meet our needs • You did all this before – the only new thing is that you are now doing it automatically via the Internet Source: TNS © Copyright 2008 Dow Jones and Company, Inc. |
  • 14. Blog Pulse Stats – the potential audience is incredible We are also enjoying our ‘fifteen minutes of fame’ – our opinions heard, our lost friends found, our rant against bad customer ‘service’ – potentially heard by many • Total identified blogs: 102,548,697 • New blogs in last 24 hours: 64,366 • Blog posts indexed in last 24 hours: 766,127 © Copyright 2008 Dow Jones and Company, Inc. |
  • 15. Behaviour is changing – the shoppers  A third of the UK population shop around online for deals.  Retail website visits were up in 2008:  HMV up 36%;  Royal Mail up 31%;  John Lewis up 28%;  Dixons Stores up 27%;  Arcadia Group up 25%;  Next up 25%;  Debenhams up 22% © Copyright 2008 Dow Jones and Company, Inc. |
  • 16. Online sales bucked the Q4 ’08 trends  Online and mail order sales - double-digit rise in December 2008  Online Christmas sales were up 16.%  Tesco did even better and the Co-op's e-store better still.  The top store is the online fashion store ASOS with sales up 118%. © Copyright 2008 Dow Jones and Company, Inc. |
  • 17. Look at what we are doing in the UK  World online adult population 1 billion (1,000,000,000)  UK online population 41 million  Home 63%  Work 38%  Other 20%  UK - Grown up spend over an hour per day on average  For information 68%,  For communicating 51%,  For purchasing 50%,  For the family 50%,  Not so grown up 15-24 year olds  Entertainment 70%  In touch with friends 60%;  Communicating with others 54% © Copyright 2008 Dow Jones and Company, Inc. |
  • 18. Everyone is thinking and behaving ‘digitally’  More than one in ten adults read online newspaper, a quarter of adults have watched TV online and one in five listen to radio from their computers  Nearly 2 million listen to a podcast each week.  If you are under 24 you probably used the internet more than you watched TV.  The top sites are Google, Microsoft, Yahoo, Facebook, eBay, BBC,  15% of adults have a blog.  24% of consumers read blogs - up from 13% in 2006  Facebook has twice as many users as MySpace  One in five social media users flirt © Copyright 2008 Dow Jones and Company, Inc. |
  • 19. The whole world is doing exactly what we are doing too Source: TNS social media survey 2008 © Copyright 2008 Dow Jones and Company, Inc. |
  • 20. YOUR customers are leading the revolution Source: TNS social media survey 2008 © Copyright 2008 Dow Jones and Company, Inc. |
  • 21. Best known ‘social media brands’ in US • Social media and web is about targeting a Top 10 generation for whom online buying is 11-20 21-30 31-40 automatic • iPhone • Microsoft • ABC • General Motors • CNN • The brands are now largely • Coke • Ford • ‘young’ or ‘hip’ McDonald's • Apple • Nintendo • LG • General Electric • Disney and connect • Target • Best Buy • Wal-Mart • Xbox • PlayStation • Honda • NFL • • StarbucksBut this will• change as our digital behaviour Mercedes Mac • eBay • • iPod increases • Turner next 10 years in the Sharp • BMW • MTV • Hewlett-Packard • Lincoln • Samsung • Sony • So now you need to know: • NBA • Fox News • Nike • Dell • BlackBerry Pepsi • Subway • What are they saying about you online? • How does my ‘presence’ online help my brand? Source: Advertising Age: 29/01/09 © Copyright 2008 Dow Jones and Company, Inc. |
  • 22. Your clients are now GLOBAL…you should be joining them If you don’t know where they are or what they are saying, you are powerless to stop brand value being destroyed © Copyright 2008 Dow Jones and Company, Inc. |
  • 23. • iReport.com (a site where users submit stories) posts a phoney news report that is picked up and run by mainstream news media • Apple stock goes into a steep dive (9%) before rebounding (down 3%) A rogue story from a Social Media site (in this case a news gathering site) wiped millions of dollars off Apple’s share price with a false rumour © Copyright 2008 Dow Jones and Company, Inc. |
  • 24. A search engine mistakenly places a 2002 bankruptcy story in a broker’s morning stock report UAL share price collapses from $12.50 to $3 on the news © Copyright 2008 Dow Jones and Company, Inc. |
  • 25. News travels at lightning speed through social media applications Bill Gates releases mosquitoes into the audience at the Technology Entertainment Design awards show last week – within seconds the story is on Twitter and spreads fast to conventional media Source: BBC News © Copyright 2008 Dow Jones and Company, Inc. |
  • 26. Some celebrities ‘get it’ too • A leading UK actor gets stuck in a lift and 5,000 follow his every move with rescuers arriving 14 hours later • Celebrities are ‘hip’ • Brand endorsement pays off for marketeers • Now they are endorsing social media applications – like twitter in this case • What next? and Who is next? Source: Hello Magazine © Copyright 2008 Dow Jones and Company, Inc. |
  • 27. This is only a tiny fraction of what is going on each day Sites most of you already know and use each day © Copyright 2008 Dow Jones and Company, Inc. |
  • 28. As a marketing guru…This is YOUR new task © Copyright 2008 Dow Jones and Company, Inc. |
  • 29. These are the social media communities you NEED to lasso if you are to thrive © Copyright 2008 Dow Jones and Company, Inc. |
  • 30. Every social media site is a potential ‘corral’ of interest in your company and your corporate reputation Your new job is ‘to feed the horses’ in each corral of social media-driven community interest © Copyright 2008 Dow Jones and Company, Inc. |
  • 31. If you don’t…something small can swell up and turn into something really nasty © Copyright 2008 Dow Jones and Company, Inc. |
  • 32. The new internet ‘gold rush’? Become a top class ‘cowboy’ – and the social media mine will OPEN UP to your company © Copyright 2008 Dow Jones and Company, Inc. |
  • 33. But remember – when - the giants ‘see’ the money we’d better sit up and take notice too © Copyright 2008 Dow Jones and Company, Inc. |
  • 34. Something big may be starting to happen… Known for books, DVD’s etc - it is targeting a generation for whom online buying is automatic © Copyright 2008 Dow Jones and Company, Inc. |
  • 35. Time for a commercial break… Who we are & what we can do for you? © Copyright 2008 Dow Jones and Company, Inc. |
  • 36. Who we are C o n s u m e r M e d ia G r o u p e r p r is e M e d ia G r o u p L o c a l M e d ia G r o u p En t © Copyright 2008 Dow Jones and Company, Inc. |
  • 37. Dow Jones helps international companies to maintain and develop a competitive advantage  Professional solutions for the financial markets, government, corporates and media  More than 7,700 employees  Global/local player with editorial, sales and support staff in 89 cities  More than 125 years of editorial excellence © Copyright 2008 Dow Jones and Company, Inc. |
  • 38. Our value proposition Content Expertise Most complete content Media Consultants set for communications provide decision-ready analysis reporting and context to analysis Technology Global Partner Decades of information Global content, processing experience expertise and offices and over $20M in allows us to partner investment globally 38 © Copyright 2008 Dow Jones and Company, Inc. |38
  • 39. Global Content 14,000 22,000 40m 4,500 Traditional Press Influential Web Social Media Blogs TV/Radio  World’s most  Opinion and  International  80 countries influential Web commentary from newspapers sites blogs and  5 continents  Business news messages boards  Editorially picked that create “buzz”  Trade press  Coded by source on the internet 3rd Party groups  Newswires  Bespoke software Content to remove inactive  Press release and spam blogs services  500,000 messages  Add other  250,000 articles sources per day per day  External or  23 languages internal © Copyright 2008 Dow Jones and Company, Inc. |
  • 40. How we do it Blogs & Message User Interface / Visualisation Boards Text Mining Platform Unstructured Information Mining data Web, NGOs, interest groups Semi-structured Users Mainstream data Media • 14,000 news titles • 30,000,000+ articles • 22,000 websites • 150,000+ articles per day • 40,000,000+ blogs and boards • 500,000 blog postings • 4,500 broadcast transcripts • 23 languages 40 • Content on Demand • Editorially selected © Copyright 2008 Dow Jones and Company, Inc. |40
  • 41. Robust search strings on a global online platform © Copyright 2008 Dow Jones and Company, Inc. |
  • 42. Strategic media evaluation – what could it do for you  Identify Reputation Drivers – these are vehicles through which communication departments can draw more on internal positives and start to shape press coverage in the media in a way that reflects your’s own internal goals  Proof of budget – we help you show your budget has been well spent  Communicating internally in the same language: i.e., using a consistent measurement tool that allows comparison and performance measurement  Spot opportunity, spot strengths and weaknesses and take appropriate action © Copyright 2008 Dow Jones and Company, Inc. |
  • 43. What this mean for you  Offers you financial economies of scale – our systems include monitoring and provide strategic analysis and offer action points  Our content is fully licensed global – sourced from the widest source set available to any supplier – it includes: hard copy, web copy, blogs, board, forum and all social media content  It is possible to ‘track the world’s press’ through a single, shared common online platform © Copyright 2008 Dow Jones and Company, Inc. |
  • 44. What we offer you  Uniqueness – news is our job, we think globally and act locally  Empathy – it is our task to help you make the strongest impact  Data to minimize risk – we strategically interpret, we don’t just count  Data to enable you to act – we point to options on what can be done next  Independent analysis – we will tell it to you straight for good or for bad  Relevance to your business needs – we will link our analysis to your’s key performance indicators 44 © Copyright 2008 Dow Jones and Company, Inc. |44
  • 45. We will help you measure your media reputation  Help you to assess how the press see the value and quality of your work  Track your key KPI’s and see how they are shown in the media  Help you to manage risk  See how your effort to maximize operational efficiencies is being portrayed  Assess how strongly your management team is rated by the media © Copyright 2008 Dow Jones and Company, Inc. |
  • 46. Our keys to your global success 1. Measure consistently across languages and cultures 2. Determine what success looks like from region to region 3. Use the right tools with the genuine global content 4. Coverage is not limited to the clips you can afford 5. Third party content is added free of charge 6. DIY production to share with colleagues or show ‘proof of effort’ 7. Turn output into positive outcomes © Copyright 2008 Dow Jones and Company, Inc. |
  • 47. In your design of an internet/social media strategy there are four routes to take: Propaganda, Information, One-way asymmetrical or Two-way © Copyright 2008 Dow Jones and Company, Inc. |
  • 48. Please pick the right one – our world class experts are ready and waiting to help you measure it Mail me for any follow up on: Steve.virgin@dowjones.com © Copyright 2008 Dow Jones and Company, Inc. |