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Wikibrands presentation originally presented to SMB Ottawa by Sean Moffitt - Reinvent your brand in a customer-controlled marketplace

Wikibrands presentation originally presented to SMB Ottawa by Sean Moffitt - Reinvent your brand in a customer-controlled marketplace

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    Wikibrands SMB Ottawa Wikibrands SMB Ottawa Presentation Transcript

    • Wikibrands - Reinventing Your Business in a Customer- Controlled Marketplace Sean Moffitt @SeanMoffitt A Presentation to: Ottawa, Ontario SMB Ottawa June 2, 2010 www.agentwildfire.com
    • So What The Heck Do I Know?
    • Obstacle #1 – There are 45,000 social media experts online right now
    • Instead, we studied the best… - Interview 50 top global experts - Study of 100 of the most engaged businesses/brands - Part of a multimillion study with Don Tapscott
    • We went cross industry for insight … Finance- American Hospitality – Running - Nike Plus Express Starbucks B-to-B Travel – - Intuit Automotive - Camp Jeep Starwood Hotels Tech – Dell ecommerce – eBay Startup - Freshbooks
    • Obstacle #2 – If you have a profile on Facebook, you have an opinion…
    • Just A Blonde Guy With a Cause …Authenticity, Passion, Storytelling
    • We built some verifiable proof - 2nd annual report -Survey of 300 Canadian marketers, media and executives -30 questions on new media, technology and customer culture
    • Obstacle #3 – The Cluetrain has left the station…organizations, businesses and brands don’t belong in social media
    • Social Media = Smart Business
    • “The Sensitive New Age Social Media” Religion Type
    • “The Never in a Million Years Traditionalist” Religion
    • Key Point - You Don’t Have to Choose Sides, Social Media is not a Religion
    • Caveat - There is a difference between “Being social”
    • Versus “Doing Social”
    • A Culture Change is Required MASS DIRECT SOCIAL MARKETING MARKETING INFLUENCE MARKETING
    • Wikibrands: Culture
    • Let’s get started…
    • Wikinomics - 2007 Don Tapscott “How Mass Collaboration Changes Everything” -Openness - Peering - Sharing - Globalness Wikibrands - 2010 Sean Moffitt and Mike Dover “How Customer Participation Changes Business” - Online community and content - Customer engagement and brand experience - Social influence, buzz and word of mouth - Peer to peer media and technology
    • Business and Brands still Matter…. …but…
    • 7 Fundamental Changes are Occurring in How We Build Great Business • Shifts in media • Shifts in brand drivers* • Shifts in customer needs • Shifts in technology • Shifts in demographics • Shifts in business models • Shifts in economy
    • One highlight – what used to build brands and business is not what builds them now Top 8 Top 8 Value Differentiation Desirability Drivers Drivers - High Quality - Unique - Trustworthy - Dynamic - Good Value - Different - Reliable - Distinctive - Original - Innovative - Simple - Visionary - Fun - Daring - Leader - Progressive Source: Y&R Brand Asset valuator
    • There’s a new currency on how to build business “Something you Buy” “Something you Trust” “Something you Want” “Something you “Something you Prefer” “Something you Love” Participate In” 23
    • Wikibrands – personal brands and social phenomena are great; but we want to know how social media affects these people?
    • Why Now? - Business Use of Social Media-
    • Top Reasons – Why Now Social Media #1 The Need for Authenticity and Transparency -42% #2 The rise of social networks - 38% #3 Increasing role of wireless/mobile - 35% #4 Customers/people waning attention spans - 25% #5 Media fragmentation - 22% #6 Change in mass marketing effectiveness - 20% Agent Wildfire -The Buzz Report, April 2010
    • ½ Dozen Reasons Why This is Important?
    • #1 - Engaged brands are winning.
    • Engaged Brand Value +18% Non- Engaged Brand Value -6% Interbrand 2010 Top Global Brand report
    • #2 – Social Media = Many Benefits
    • Brand Advocacy (Marketing) - Word of mouth - Referral/recommendation - Badging - Sales/traffic - Reduction in media budgets Brand Perception (PR) - Awareness/exposure/SEO - Affinity - Empathy/respect - Lead industry conversation
    • Brand Support (Customer service) - Customer service - Education/ advice - Value-add experience - Lead industry conversation Brand Serendipity (HR) - Stories/Inspiration - Corporate social responsibility - Galvanize employees - Traditional media interest
    • Brand Content (Media/Customer Experience) - Co-innovation/solutions - User-generated Creative - User-generated content - Reviews/ratings Brand Insight (Research and Innovation) - Idea stimulus - Beta-testing - Market research/polling - Industry/competitive intelligence
    • Maker’s Mark Advocates
    • Molson in the Community
    • Doritos Content
    • Starbuck’s Insight
    • Whole Foods Support
    • Pepsi Serendipity
    • The Top Reasons Why Canadian Business Use Social Media Now
    • Most Frequently Stated Objectives #1 - Deliver buzz/awareness/publicity #2 – Participate in a Dialogue/Conversation #3 - Drive brand loyalty/affinity/lifetime value of customer #4 – Build better customer experiences #5 – Deliver web visitors/offline traffic #6 – Drive referrals, leads, members #7 – Develop/enhance grassroots credibility
    • #3 – It’s Where Your Audience Lives
    • Online Canadians are spending 18 hours online each week (higher than TV) We’re spending 82% more time on social networks than last year
    • Scale – 14,252,000 Canadians Engagement – ½ log on everyday Age - 37% are over 35 years old Associations - 500,000 pages/5.3 billion fans Purchasers - 53% female Connected - Average 130 friends
    • Scale – 3,000,000 Canadians (est.) Followers – 190 followers each (after 2 yrs) Influence - 0.7% of audience are followed by 1000+ users Experts -10% of audience is posting 90% of tweets
    • #4 – It will Keep Growing
    • ⌧ Canadian Marketers plan on spending more/less in 2010: More Less Newspaper 5% 32% Radio 5% 33% TV 4% 37% Magazines 3% 39%
    • Ching Ching $$$ There is a solid industry business case 79% of firms will be increasing investment in Web 2.0 technologies; only 6% will decrease. Source: Gartner, Sept 2009
    • Types of New Media Future Growth
    • #5 – We’re Not Very Good at It
    • Business and marketing are lagging their customers 71% of marketers are less/only equally familiar with the use of social media tools than their customers Question: How familiar are you with the tools of social media?
    • #6 – Your Customers Want It
    • 85% of people want companies engaging with their customers in social media 56% of people feel a stronger connection with those companies they interact with in social media
    • The Recipe for Success? Technology? Design? Funding?
    • The Biggest Social Media Sins - Listening, Content and Focus
    • The FLIRT Model – A Recipe for Community Success
    • FOCUS – “Why are we doing this/what are we doing?”
    • FOCUS– Marry All Parties’ Interests/Capabilities
    • FOCUS– Two Big Axioms Social/member needs > Company needs Focus > Technology
    • Nike + -Members/Customers Values/Lifestyle/Desires
    • LANGUAGE & OUTREACH “do I like this/can I identify with this?”
    • “It doesn’t matter what you say, if I don’t like the way you’re saying it” James Cherkoff, Collaborate Marketing
    • Outreach - The Community Tentacles Interesting- Social ness Targeted Conversation Findability Collaboration Content Engine Visual Community Offline Portal Aggregation Direct Blog/RSS Multimedia Grassroots Updates Outreach Badging
    • Outreach – Not Everyone is Equal Visual
    • INCENTIVES & MOTIVATIONS “what’s in it for me?”
    • 25 Community Incentives - Intrinsic “How do I identify with, help the community” • Better life/supporting cause • Challenge/competition • Creativity • Fun & enjoyment • Group effort/achievement • Learning • Satisfying curiosity • Wanting to make a better product • Meet people of similar interests
    • 25 Community Incentives - Extrinsic “How do I appear to others?” • Ability to join VIP circle • Access to exclusive channels • Access to exclusive resources • Chance for wider Fame • Recognition (peer & company) • Reputation building • Recognition by company • Reputation by peers
    • 25 Community Incentives - Explicit “What is my direct, tangible reward?” • Customer service • Information/advice • 3rd party incentives • Customized/personalized treatment • Cash rewards • Non-monetary rewards • Discounts • Invitation to Events • Points accumulation
    • Souplantation 45,000 Facebook fans, 12,000 twitterers
    • RULES “what can/can’t I do here?”
    • Rules • Experience Facilitation • Legal & Ethical Concerns • Employee Policies • Ownership
    • Coca Cola’s 10 Social Media Rules 1) Be Certified in the Social Media Certification Program. 2) Follow our Code of Business Conduct and all other Company policies. 3) Be mindful that you are representing the Company. 4) Fully disclose your affiliation with the Company. 5) Keep records. 6) When in doubt, do not post. 7) Give credit where credit is due and don’t violate others’ rights. 8) Be responsible to your work. 9) Remember that your local posts can have global significance. 10) Know that the Internet is permanent.
    • TOOLS & PLATFORM “how and where does it work?”
    • Platform Choice - Criteria - Type of Software/Language - Cost & Time - Customization - Scalability & Usability - Security & Ownership
    • Platform Choices
    • COMMUNITY MANAGEMENT “who will lead the conversation?”
    • How to Avoid This…
    • Community/Brand Evangelists - Tasks
    • The Hero Community Manager – Nature Valley
    • The Collective Effort - Kashi
    • The Outsourced Effort – Philadelphia Cream Cheese
    • LIFE STAGE OF THE COMMUNITY “when do we need to adapt?”
    • The Life Stage of Social Media/Community Milestone achievement User generated content Incentives materialized Mass supported Expansion Expected cycle of activity Broadened focus Company culture change Self-governance Tiered membership Fresh produced content Highlight contribution Incentives pitched Networked Seeded audience
    • METRICS, MEASUREMENT, INSIGHTS & ROI “what do we measure and look for?”
    • The Most Popular Community Metrics - Traffic Pattern & Statistics - 75% - Community Member Engagement - 74% - Unique Number of Visitors - 72% - New Member Registration - 70% - Member Satisfaction - 59% - Provide Feedback/Ideation for R&D - 49% - Number of Referrals by Members - 33% - Transition Lurkers into Active Members - 29% - Impact of community on revenue - 27% - Mentions of Organization or Brand on other Community Sites - 27%
    • CULTURE & ORGANIZATIONAL CHANGE “how will we be changed?”
    • Why aren’t we doing this? And succeeding?
    • Implementation Issue – Lip Service > Action The biggest obstacles that continue to exist in implementing Wikibrands/social media in your company/clients? 1. Lack of Budgets 32% 2. Inability for company culture to accept 26% 3. Technical skills required to implement 24% 4. Inability to measure 23% 5. Fear of loss of control 21% Source: Agent Wildfire Buzz Report 2009/10
    • Key takeaways -Business and brands do belong - 6 Potential benefits/reasons why - Create a Wikibrand culture - Listen - Remember to FLIRT - Resource for sustainability – MILC
    • -McGraw-Hill (Dec, 2010) @wikibrands Facebook group Blog, Wiki, Tour and Awards to follow
    • Let’s Start Your Next Brand Conversation… Inquire: spreadtheword (at) agentwildfire.com Phone: 416-255-4500 URL: www.AgentWildfire.com Book: @wikibrands Blogs: http://BuzzCanuck.typepad.com/ http://www.spreadslikewildfire.com/