Social Media (r)evolution : back to roots ?

The Social Media (r)evolution: back to roots for motoring clubs ?
FIA General Assembly – Member Benefit Forum
November 3, 2010
AlexandreVandermeersch

1
Social Media facts & laws
Value creation
Motoring Clubs
Closing thoughts, Q&A
Agenda

2
Social Media is more than Facebook…but mainly Facebook

3
Main categories – 101 on social media
Social networks
Mutualacceptance– mapping real life connections
Micro-blogging & curating
Followership – simplyrequires to ‘subscribe’ to someone or ‘submit’ ‘vote’ / ‘tweet’ for a topic/link
Crowd-sourced media
Upload/create& share- Media/content isuploaded/createdby a smallcommunitythenseen by a large group (+ as wellvoted, curated, funded,…)

4
Is Social Media a fad?

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1
Internet is soon becoming Europe’s first media
Hours per week of usage in Europe
TV-flat
TV-falling
Internet-flat CAGR
Internet-slowing CAGR
Internet consump-tion is estimated to average 14.2 hours per week against 11.5 hours for TV by 2010
2011
10
09
08
07
06
05
2004
SOURCE: Microsoft Europe Logs On Report 2009

6
Social media – seniors still flock ‘en masse’ in the US
Penetration of 50 yrs + in social media in the US
Age 50-64
Age 65+
+88%
+100%
Age 30-49
Age 18-29
+27%
+13%
SOURCE: Pew Research Center

EVERY WEEK …
26% play console games
33% watch Internet video clips
38% send SMS messages
39% read magazines
43% visit social networks(spending an hour a day)
They are addictive
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Source: 2008 McKinsey iConsumer survey

8
4 laws of social media
Law of networks
Law of gravity
Law of switch costs
Zuckerberg’s law of information sharing

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1 – Laws of networks - be the fastest and best at building the network
Network’s value increaseswith new nodes (not all nodes are createdequal)
Two-sided networks are tougher to crack but unlock more value
Critical focus put on ‘getting new nodes’(iememberrecruiting & on boarding)

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2 – Law of gravity – 3 reasons why content publishers/advertisers go to social media
Built-in sharing vs opt-in sharing
ConvenientReach – less ‘click costs’ to join
Top of mind– usersonlyremember few sites to check in regularly, rarelyused bookmarks

11
3 – Law of switch costs – why it’s hard to leave
Building yourpersonal network online took time & energy
If youswitch, whowillfollow ?
Registering all data is a pain

12
4 – Zuckerberg’s law of information sharing: increasing online disclosure
« Everyyear, people sharetwice as muchinformation as theydid last year »
People progressivelysee ‘more value thancosts & risks’: socializing, ease of sharing (e.g mobile), privacyconcernsadressed,…

13
Value creation
Motoring Clubs
Agenda

14
A Facebook fan is worth…
SOURCE: Syncapse research, June 2010

15
R&D/ Product development
Procurement/Production
Marketing/PR
Sales
Service
Support functions – HR, IT, Training
Online engagement is creating value across the value chain…
SOURCE: McKinsey Technology Initiative

….And a “Coppernicianrevolution” - My experiencewith Microsoft

Social media complete eachother and build links fostering trust & loyaltyaround a company/Brand

Especially if you show case testimonials, right on your web site
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Credibility
Conversion rate
+25%
Sales
+10%
SEO
Word of Mouth amplification
Powered by:
http://www.dialogfeed.com
Put it on your site

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Motoring clubs
Value creation
Agenda

20
Some definitions
Club
A club is an association of two or more individualsunited by a common interest or goal
A virtual community is a social network of individuals who interact through specific media, potentially crossing geographical and political boundaries in order to pursue mutual interests or goals.
Virtual community
Source: Wikipedia

21
Back to roots ?
The thirties
2010+ (?)
The Nineties

Recruiting – aren’t your members your best ambassadors ?
Brand
Re-enforcement of WoMactivities
Relationship building:
Free trials, sampling,..
Feedback
Read responses
Intervene in community
Ambas-sadors
Word of Mouth/ mouse (« This service isgreat and values itsconsumers – I will go the extra mile to promotethem »)
Otherconsumers
Virtuouscircle for the brand!

Blue sky thinking – can your members solve big problems ?
Ratherthantrying to solve the problem, canyoubuild & facilitate an ecosystemfor a solution ?
Mobility self-support
Pollution avoidance ?
Group buying ?
Self-support ?
Connectpassionate people?

Some threats
Commoditization – aggregators
Disintermediation – self-regulatedtravel assistance?
Attack of adjacent players – traditionalinsurancecompaniesgoing social

25
Value creation
Motoring clubs
Agenda

Consumer trends: yousimplymay have nochoice
Sourceagenetwildfire/DDB Tribal Canada

27
R&D
Opera-tions
Marketing
Sales
Service
Our perspective – E^4
CEO = Chief Engagement Officer
End-to-End External Engagement (E^4) is the ability to truly engage with external stakeholders continuously in time, for consumer insights, innovation, marketing, sales and customer service
SOURCE: Brandialog white paper

28
What should you do when you are back ? Our 5 simple steps
What business objectives are you after, with whom (by type of relationship) ?
0
Who are those people and what to they do & say ?
1
How do I engage them & build social currency/value, sales, reduce costs, raise satisfaction ?
2
How do I scale & leverage ?
3

Where we play
Getyourown 300-500 privatecommunity, online, available forco-creation, 360° feedback, and ambassadorship building
Geta dedicateddialogue section/web site, withthe social media testimonials back on your web site, open a dialogue section, humanizingyour brand, raisingcredibility

Questions ?
Alexandre Vandermeersch
Alexandre @dialogsolutions.com
Twitter: @alexvdm
Blog: http://alexvdm.com
www.dialogsolutions.com
www.brandialog.com
www.dialogfeed.com
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Social Media (r)evolution : back to roots ?

by Alexandre Vandermeersch on Nov 09, 2010

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Social Media (r)evolution : back to roots ? — Presentation Transcript