Marketing In The Age Of Social Media

Marketing in the Age of Social Media By: Ariel Vinizki

Last year, spent just 33% of their $678M U.S. advertising budget on ads with TV networks and other traditional media.

#1 Advertiser in Advertising Age‟s 2009 The Creativity Awards Report

''We're not in the business of keeping the media companies alive. We're in the business of connecting with consumers.'' - Trevor Edwards, V.P. Global Brand & Category Management, Nike

Marketing is getting increasingly complex.

Traditional media‟s share of the pie is decreasing.

“Advertising simply doesn't work as well as it used to ... the old tools are becoming more expensive and less effective.” – Seth Godin

CLUTTER

SELECTION

FRAGMENTATION

“In 1965, 80% of 18-49 year olds in the US could be reached by three 60 second spots. In 2002, it required 117 prime-time commercials to do the same.” - Jim Stengel, Global Marketing Officer, P&G

TUNING OUT

• 60% of consumers describe themselves as “a person who tries to resist or avoid being exposed to marketing and ads." • >2/3 of consumers said they would be interested in products that let them “block, skip, or opt out of being exposed to ads." • 54% say they "avoid buying products that overwhelm me with marketing and advertising." Source: Yankelovich

“I don't watch TV live period anymore. It's all recorded and watched whenever I get around to it lol I don't have the time to watch shows when they are on. And if for some crazy reason my DVR decides not to record something it was supposed to(it has happened before) I'll just go to the network website and watch it. Or I'll find a bit torrent. I think it's pretty cool I can download movies to my Xbox and the such... but I haven't actually done it yet. I still like to go to block buster and check out their selection. It gives me a chance to get out of the house :-P” - By acarzt on Apr 8, 2009, hothardware.com

Internet usage is growing at a torrid pace. • 75% of North Americans use the internet. • Almost 2 billion users worldwide.

“Gaming, once the domain of kids and a small group of core fans, is now more mainstream than ever … the evolution of gaming consoles into multimedia devices has changed consumption habits of traditional media such as TV, movie and Internet content,” - Bradley Raczka, Marketing Manager, Nielsen Games

Gaming is mainstream!

Online poker is multi-billion dollars

AIDA Advertising Model Attention Interest Desire Action

Attention More ads + More brands + Less receptiveness + More non-commercial options + Tools to avoid = Attention being the scarce resource

And even if your ad does break through and get seen…

Despite an ever-expanding array of advertising platforms and sources, consumers around the world still place their highest levels of trust in other consumers, according to a recent global Nielsen Internet survey.

So people hate brands?

… Not Exactly: • an overwhelming majority of consumers (76%) welcomed brand advertising on social networks Razorfish • nearly 40% of reported having “friended” Digital a brand on Facebook and/or MySpace • 26% have followed a brand on Twitter Brand • The myth of marketing-free social Experience spaces is … a myth Studies • The “dialogue” between brands and consumers is not only frequent, but also welcome

• Explosion in information is resulting in an information overload. • Abundant supply is driving the value of most information to zero. • Captive audience gone – once waited for weather or sports scores … now have it in real time. • The only scarce resource is attention. • We listen to „friends‟ as to what to pay attention to. • Friends know us better than any algorithm. • Crowd-sourcing your message?

• Now 3rd largest video viewing site on the web (behind YouTube and Hulu) • 217 million streams in Oct/09 • Amount of time web users spend viewing videos on social networking sites went up 98% this year (source: Nielsen)

Social media are online applications, platforms and media which aim to facilitate interaction, collaboration and the sharing of content. Source: Universal McCann, Social Media Tracker

What is Social Media Marketing? Leveraging the internet as a platform to drive engagement in order to achieve branding and marketing communication goals.

“It's impossible to draw a line between social media and traditional media - it's all one.” “Whether content is created by the Pros or the Joes it all has influence, even if it's small.” – Steve Rubel

"I just watched a plane crash into the hudson riv [sic] in manhattan.” - Jim Hanrahan, aka Manolantern

“To find something comparable, you have to go back 500 years to the printing press, the birth of mass media … Technology is shifting power away from the editors, the publishers, the establishment, the media elite. Now it‟s the people who are taking control.” - Rupert Murdoch, in Wired, July 2006

4 Media Revolutions Prior to the Internet: Printing Press Telegraph/Telephone Recorded Media – Photos, Sound, Video Broadcast Media – Radio, Television

“The moment our generation is living through is the largest increase in expressive capability in human history.” – Clay Shirky

Your brand story is no longer linear. Source: Advertising Age November 9, 2009

Socialism Redefined - Wikipedia, Flickr, and Twitter aren't just revolutions in online social media. They're the vanguard of a cultural movement.

Stop Interrupting!

Start Igniting!

In a million channel world, brands whose consumers tell the best stories, win.

Give People A Reason To Click

So how do all these changes in the landscape impact advertising?

Time Out! Before we talk advertising... Start by making a great product. A great product is the best advertising. Make better products.

It‟s Not (So Much) What You Say. It‟s What You Do (and Other People Then Say About It).

The Volume and Quality of Your Earned Media Will Be Directly Proportional to the Impact and Quality of Your Product and Ideas.

Entertain Me

Give Me A Unique Experience

Give Me Utility

Meaning Beyond Money

Connect Me With Others

“Your brand is no stronger than your reputation – and will increasingly depend on what comes up when you are Googled.” - Allan Jenkins, Global Communications Consultant

“The skillful use of Twitter, Google, the internet and Facebook won‟t make a weak brand strong.” – Al Ries Source: Advertising Age November 9, 2009

Transparency and Truth

Crawl, Walk, Run

Lessons For Marketers

“The campaign was not successful simply because it got a lot of people out to vote. It was successful because it got a lot of people getting others to vote.” - Jalali Hartman, Yovia.com CEO

It Starts With the Product • Barak Obama does represent Change – Race – Age – Experience – Biography – Regional

Clarity of Purpose • Determined their positioning and defined the brand clearly and consistently.

Identify Neglected Customers • Expanded the electorate. • Who is the competition forgetting to speak to? • How does your offer speak to them?

Build Communities

Help Others Evangelize For You • Build communities. • Give people a sense of ownership in the brand. • Provide the raw materials that people can then use to create their own content to share.

Give Up A Little Control • Have a policy and some control over offensive and illegal material … BUT … • Don‟t worry so much about unauthorized use … allow mash-ups and audience participation. • Don‟t censor „negative‟ comments.

Reward Me. Entertain Me. • What do I get out of being a fan on Facebook , for following your Tweets, or giving you my email/ mobile?

Put On A Spectacle • Attract interest by creating an experience worth paying attention to.

Get Key Influencers Endorsing You • Not necessarily a celebrity – it could be an influential blog. • Don‟t pay for it.

Get Media On Your Side … But Don‟t Rely On Them • Give them access and align your needs. – Including your critics. • Build a direct relationship with your audience.

Mass Media Still Matters • Despite brilliant use of web/mobile, Obama still spent the most on paid media … by far. • Mass media pushed people to the hub (www.barackobama.com).

Be Transparent • Address criticism head-on. • Don‟t censor critics – empower supporters.

It‟s A Permanent Campaign • It‟s not a sprint. It‟s a marathon. • Don‟t launch and move on. • Campaigns are on-going dialogues. • „Kaizen‟ • Build a community, keep fostering it and leverage it.

Measure The Right Things • What is the real objective? • How will you determine success or failure?

Obama = Community Organizer.

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Marketing In The Age Of Social Media

by Ariel Vinizki on Dec 16, 2009

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Marketing In The Age Of Social Media — Presentation Transcript