• Save
Social Business: the Opportunity for India (Engage Kolkata edition)
Upcoming SlideShare
Loading in...5
×

Like this? Share it with your network

Share

Social Business: the Opportunity for India (Engage Kolkata edition)

  • 5,396 views
Uploaded on

What's the opportunity behind Social Business? How does customer engagement lead to increased revenue? What path should marketers take in social channels? How can other departments play a......

What's the opportunity behind Social Business? How does customer engagement lead to increased revenue? What path should marketers take in social channels? How can other departments play a part?

Some of the questions I answer in this presentation made for the Engage Digital Summit held in Kolkata, India on June 5-6, 2012.

This is my last presentation as an employee of superstar social business consultancy Ant's Eye View. Many thanks to my AEV colleagues for 18 months of learning and fun.

More in: Business , Technology
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
No Downloads

Views

Total Views
5,396
On Slideshare
3,244
From Embeds
2,152
Number of Embeds
12

Actions

Shares
Downloads
0
Comments
1
Likes
10

Embeds 2,152

http://www.alejandrogomezblog.com 2,068
http://localhost 46
http://borris.custom.mechmedia.net 15
http://feeds2.feedburner.com 7
http://www.linkedin.com 5
http://www.dev.shareist.net 3
http://192.168.0.154 2
http://translate.googleusercontent.com 2
http://www.netvibes.com 1
http://www.google.com 1
https://si0.twimg.com 1
http://justposts.custom.mechmedia.net 1

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. paem baub iCN e o r d lrg PSocial Business:the Opportunity for IndiaERIC WEAVER • ANT’S EYE VIEW • @WEAVE
  • 2. Ant’s Eye View: a social management consultancyB2B B2C paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 2
  • 3. Let’s get started. paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 3
  • 4. All around the world, people have fallen for social media. Connecting and keeping up with friends Expressing ourselves creatively (and getting feedback) Meeting people with shared paem baub iCN e o r d lrg P connections we’d never normally meet Talking in shared interest groups Stalking old boy/girlfriends Getting an “aww”/+1/Like for photos of our pet. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 4
  • 5. But … can you feel it? We’ve built sites for every media imaginable. We’ve created communities for everything. We’ve joined communities for paem baub iCN e o r d lrg P everything. We’ve tweeted about everything. We’ve poked everyone. We’ve tried to incent “viral” chatter about our products. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 5
  • 6. At a recent conference in Canada, I mentioned that I thought social media in its nascent, over-hyped form was dead. And one attendee responded with:“IF SOCIAL MEDIAIS DEAD, IT’SBECAUSE paem baub iCN e o r d lrg PMARKETERS LIKEYOU KILLED IT.”
  • 7. paem baub iCN e o r d lrg PAnd, enraged, he left the conference and immediately smashed out several windows at a nearby bank. And that’s the thing about social: it’s fun. It feels life-changing. It gives us power. And a voice. And that makes us emotional about this stuff.
  • 8. paem baub iCN e o r d lrg PYou see, humans are funny creatures. We feel very superior in our sentience, our self-awareness, our ability to reason and process and be rational. And we generally feel we are very reasonable, rational people. http://www.flickr.com/ photos/jurvetson!
  • 9. But the reality is that we’re not. In 2002, Daniel Kahneman was awarded a Nobel Prize for his work on emotional versus rational decision making. He found that typically, we truly believe that we think something, then do something, then feel something about it. But in reality we start by feeling, then we do, then we post-rationalize. For example, you might be hurt you didn’t get a job offer and then rationalize, Well, I didnt really want that job anyway.THINK > DO > FEEL paem baub iCN e o r d lrg PFEEL > DO > THINK
  • 10. 95% 95% of our decisions are made through emotional thinking, and only about 5% through rational. We *think* we’re making rational decisions but most of the decisions we make are based on the emotional brain. EMO! paem baub iCN e o r d lrg Phttp://www.flickr.com/photos/myklroventine/!
  • 11. The reason for that, basically, were primates. Crazy monkey people. Were wired to process emotions VERY quickly, using parallel processing. Thats why we can feel both happy and sad, we can laugh while we’re crying. paem baub iCN e o r d lrg Phttp://www.flickr.com/photos/richardfisher/!
  • 12. I might feel both happy andbittersweet at my daughter’s high paem baub iCN e o r d lrg P school graduation.
  • 13. Or both excited and nervous when paem baub iCN e o r d lrg P speaking in front of an audience.
  • 14. But rational processing is MUCH more difficult. We can only single-thread rational processing. If this is true, then x. If thats false, then y. It takes much more energy, more focus and more time to rationally process decisions. And in our time-starved world, it’s harder to convince people to take the time to rationally think through a decision. paem baub iCN e o r d lrg P
  • 15. IN A NUTSHELLWe’re emotion-oriented, time-starved paem baub iCN e o r d lrg Pcreatures, built for social interaction. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 15
  • 16. We already know that emotional ads are more effective paem baub iCN e o r d lrg PBinet and Field, 2007 – IPA Datamine ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 16
  • 17. !"#$%&#()*&+,,-&.(&/%00%"1&2%304&5&$$$6"1%7%8%9"$#6,#:&INTERNET PIONEER STOWE BOYDDoes being social helpus perform better? paem baub iCN e o r d lrg PDo emotions from socialsites inspire purchase? ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 17
  • 18. Lock Haven University: connected studies mean higher gradesStudents with a Twitter journalcollaborated more , resulting inan average + .5 grade pointincrease paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 18
  • 19. University of California: “touch” makes us perform better paem baub iCN e o r d lrg P A study by Michael Kraus at the University of California San Francisco analyzed how much pro basketball players touched each other. They found that the teams that touched each other (hugs, chest bumps or high- fives) outperformed teams that touched less. The more physical contact team members made, more often, resulted in the tendency to do better and get more out of the game. +,,-&;<,=96,#:>?1#"#@>:AB%9<,CDDE& His thinking was that oxytocins are generated by touch. They make us focus, relax, and feel more positive. http://www.livescience.com/11091-touchy-feely-nba-teams-win.html ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 19
  • 20. Oxytocin: the “Trust Hormone” is tied to Desire Oxytocin, the “trust hormone”, plays a role in “approach-related” emotions: those involved in “wanting something.” paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 20
  • 21. “Social touch” – does it make us more likely to purchase? paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 21
  • 22. Let’s talk Social Business. paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 22
  • 23. Our goals as marketers have not changed. Ever.We need to get attention and buildawareness.We need to convert the curious.We need to increase revenue.Or get our loyal buyers to share.We’re wondering: what’s beyond fanpages, Klout scores and Pinterest boards? paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 23
  • 24. And many marketers face considerable hurdles these daysNo one has the time.Everyone is distracted.Trust is harder to come by.Expectations can often beridiculous. paem baub iCN e o r d lrg POne blogger can outshout ourbudget.So much noise about social! ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 24
  • 25. paem baub iCN e o r d lrg P THE JOURNEY FOR SOME 1." Convince mgmt to try 2." Push promos via social 3." Buy fans via adsProfessional social media types try to get you on a 4." Tabs and apps!journey that looks like this. But this journey has a dead end. What comes next? No one can say. 5." Justify the labor cost 6." …?
  • 26. paembaub iCN e o r d lrg P THE JOURNEY FOR SOME 1." Convince mgmt to try 2." Push via social 3." Buy fans via ads 4." Tabs and apps! on buying fans, And if you focus and there’s a built-in 40% waste 5." Justify the labor cost think rate, how long do you you’ll keep your job? Likes are 6." …? NOT a metric of success.
  • 27. The bigger opportunity:align the entire organization around paem baub iCN e o r d lrg Pintegrated social engagement. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 27
  • 28. Your customers don’t care about — nor have the time to dealwith — your departments or silos I heard about The YouTube vid These podcasts help you from shows me how to me understand new Glassdoor. operate the software. product offerings. HR & TRAINING IT AND INFRASTRUCTURE paem baub iCN e o r d lrg P SALES, SHIPPING & SUPPLY CHAIN OPERATIONS MARKETING, CUST CARE DISTRIBUTN PR 85% would prefer you Please build a Is this @CustCare, I bought locally sourced store in our Groupon deal need help with ingredients. community. still valid? my bill. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 28
  • 29. The Social Engagement Journey TMStage 1 Stage 2 Stage 3 Stage 4 Stage 5Traditional Experimental Operational Measurable Fully engaged paem baub iCN e o r d lrg PTraditional Dabbling in social Social more Engagement Socialcommand and engagement embedded in driving real engagement andcontrol business occurs but is business business results, customeroperations use disconnected to operations. with systems and experience is partone-way business Internal training, tools fully of thecommunication operations. channel optimized to organization’sto drive business Fractured tools, alignment and support confident DNA.outcomes. siloed efforts and campaign and competent Breakthrough disparate integration begin employees and to business results— measures reign. to deliver tangible more fully harness increased revenue results. online and loyalty are relationships. realized. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 29
  • 30. Final destination: full engagementBUSINESS OUTCOMES ORGANIZATIONAL CUSTOMER EVIDENCEProducts are brought to IMPACTSmarket more quickly “I trust you” Entire employee base hasDifferentiate beyond $$ “I recommend you” a 360° view of theEngaged users spend more customer and can “I’m valued and heard”time on site anticipate needs “That was my idea”Influencers drive revenuevia trust Brand dashboard tied to paem baub iCN e o r d lrg P “You’ve anticipated my revenueActivation creates choice needs”at retail Senior execs leading with “You didn’t talk AT me”Get & retain best talent customer engagementMore efficient research, “You’ve improved my life” Increased awareness,development, marketing &ops revenue, loyalty, advocacy “I defend you”Built-in demand reducesfinancial risk ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 30
  • 31. MORE EVIDENCE IN FAVOUR OF ENGAGEMENTConsumers conserve their precious time paem baub iCN e o r d lrg Pfor oxytocin-rich environments. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 31
  • 32. Do consumers prefer engagement? Or their friends & family? Unique Visitors per Month – as of May 2011CF*DDD*DDD&CD*DDD*DDD&GF*DDD*DDD& paem baub iCN e o r d lrg PGD*DDD*DDD& F*DDD*DDD& D& !"#$%&()*+,- .#/%++(*+,0)"#$%&()- 1+#+2#*+,- .#/%++(*+,0+#+2#- ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 32
  • 33. AND DON’T FORGET:Engagement boosts search rankings paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 33
  • 34. paembaub iCN e o r d lrg P Forgive the indulgence. This is my wife. I posted this photo of her on Flickr in 2005. I titled it “Hottest Woman Ever.” A few years later, I started noticing massive views. And the referring site was Google, search string was “hottest woman ever.” EH&
  • 35. paembaub iCN e o r d lrg P Sure enough, Google was saying she was the “hottest woman ever.” Why? Flickr is a huge social community with lots of dialogue and engagement. Google LOVES engagement – hence her Flickr pic now hovers between #1 and #6 in an image search.
  • 36. That said – you don’t have to be “everywhere.” Choose your social venues wisely, based on their strengths. You don’t have to be everywhere. SOCIAL SOCIAL SEARCH SOCIAL ENGAGEMENT SOCIAL COMMERCE VENUE- Incent Amplify Convert Optimize Spread Amplify Build Influence Create user- Socialize Offers & influencers advocates generated differen- fence- SEO content reach trust visits promos content tiators sitters paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 36
  • 37. Rethink your approach: from campaigns to “Always On” Year 1 Year 2 Year 3 Year 1 Year 2 Year 3Traditional marketing paem baub iCN e o r d lrg P Social-driven marketingCyclical campaigns and press announcements yield Value-add products/services, supported bytransactional relationships. campaigns and consistent social interaction, yield sustained relationships, helping to inspire loyalty and advocacy.Key Key Interest Interest Platform / service Campaign size Campaign size Social media base Traditional campaigns provide momentary spikes of awareness and conversion. Yet these are transactional. By engaging, you build a loyal customer base and reduce cost to acquire. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 37
  • 38. So when determining where and how to engageMake sure that what you’re talking about has emotional relevance.Create those oxytocins. They are MONEY.Empowered consumers don’t want nor trust “marketing” – but they dowant engagement with brands they care about. Using social channels tospam your market with monologue is ultimately self-destructive. Truedialogue builds trust and transactions. paem baub iCN e o r d lrg PIntegrate your social activities into your traditional advertising. Thisallows for the maximization of your ad spend and builds a steadilygrowing fan base.Make sure all customer-facing departments are working together. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 38
  • 39. And let social listening data guide your efforts SHARE OF MENTIONS BY CHANNEL, 30 DAYS CAPTURE ON TWITTER! !AND WHILE GUESTS paem baub iCN e o r d lrg P DRIVE TO ARE TALKING ABOUT THE 3453367- .8169::;- FACEBOOK BRAND, FF*FII&+IHJ-& CD*EFI&+CEJ-& CONTESTS, CONVERT THEM USER VIDEOS & THROUGH “BRAND LOVE” SHARE-WORTHY HAPPENS HERE PROMOS – AND DRIVE THEM TO FB TO SHARE THE LOVE Listening can help you understand where to best engage; where to best amplify loyalty/advocacy. In this example, we are recommending engaging on Twitter and then driving to FB for loyalty and brand dialogue. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 39
  • 40. Five messages for Marketing Management1)" There is a path beyond social ad buys and fan acquisition • it is the Fully Engaged Enterprise.2)" Consumers prefer to interact with brands in the context of friends and family. “Social touch” means happier, more conversion-friendly communities.3)" Search loves sites with high levels of engagement—so focus on paem baub iCN e o r d lrg P engaging with visitors so that your site is more likely to BE FOUND.4)" Organizations MUST rethink their approach to their markets, by aligning the entire organization around social feedback. Market alignment brings competitive advantage and spend efficiency.5)" …and… ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 40
  • 41. FINAL MESSAGE FOR MANAGEMENT:Conversion is higher when you invest in paem baub iCN e o r d lrg Pengagement activities. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 41
  • 42. !"#$% &#($)!paembaub iCN e o r d lrg P http://slideshare.net/weave Twitter: @weave For more thinking on the Social Engagement Journey, go to antseyeview.com.
  • 43. This is my final presentation as an employee of superstarsocial business firm Ant’s Eye View. Thank you to AEV and my colleagues for 18 months of learning and fun. Watch for new thinking on social business and innovation in paem baub iCN e o r d lrg P my new role as SVP of Social Strategy for MediaBrands’ Spring Creek division, effective July 2012. @springcreekgrp • facebook.com/springcreekgroup springcreekgroup.com©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 43