Social media and the consumer opportunity

Social media and the consumer opportunity @crudden Paul McCrudden Local Social Summit @ Social Media Week: The Science of Social Media February 2010

The evolution of social media, growth in mobile and GPS, and individuals’ maturing confidence in their online identity are resulting in new opportunities for consumers to challenge brands. Brands need to start identifying how to respond effectively. Social media and the consumer opportunity

Brand experience agency
Digital-Physical experiences
Interactive installations
Online experiences
Social media campaigns
Imagination

Eyesponge
Aggregates our team’s social media content
eyesponge.com

We absorb content
We release content
We need to make sense of our social media ‘give and take’
Real-time
Long-tail
The social sponge

Content and identity
Facebook:
55 million updates per day
We share 3.5 billion pieces of content every week
Over 2.5 billion photos uploaded each month
“ Thanks to easy-to-use interfaces and fine-grained privacy controls, social networks have been transformed into vast public spaces where millions of people now feel comfortable using their real identities online.” The Economist, January 2010

Recorded all the time and money I spent as a consumer
Invoiced companies to pay me for the time I spent with them
#sixweeks

#sixweeks

Used Twitter and blog to challenge companies
#sixweeks

Pret A Manger’s most effective PR spend of 2009
First time some brands involved in this space
#sixweeks

Feltron Report 2009

275,000 users
65% increase per month, Jan 2010 (30% Jun 09)
Game scenario against other consumers
Rewards
The power of your data

FourSquare office

Case study: Brand ambassadors
Awareness-raising campaign to support product launch
Local & social in 3 German cities
Created multi-channel Love Ambassadors
551 Flickr photos, 4,774 YouTube views in two weeks

Case study: Local space
Broadcast Twitter-style update to show environment; users can also send updates into social media spaces
439 total comments posted in social media sites, with an estimated total reach of 28,324 people

What friends are for

Never the same network

The new behaviour

How do you make your data work for you? Value in your data

Value in your data How do you make your data work for you ?

Blippy: Money talks

Find the value in your data “ To tell people - friends, acquaintances, maybe even strangers - a little bit more about you.” Philip Kaplan, Blippy co-founder on Blippy I reckon: You should tell companies more about you.

Re-Tweets are posted most at Friday 4pm
Personalised social media analytics currently lack meaning
Some data’s out there

Aggregate
Aggregate your own social media content and metrics:
Time
Location
Relationships
Key words
Unlock the value in your social media data & use it to challenge companies
No site currently aggregates your social media content effectively
Semantic web will help

@whoever this month has:
Checked in at Apostrophe 8 times
Bought a Superdry jacket
Mentioned me in 2 tweets
How can this relationship bring near-future tangible value to me?
‘ Friends’ as commodities

Deeper marketing segmentation
Cross-industry partnerships
Understand ROI on word of mouth
Measure the quality of influence - am I more likely to go to Apostrophe?
How should brands embrace this?

‘ Decision-making present’
Compete for consumers’ near-future attention
“ I am doing this next”
Instant, automatic analysis of real-time consumer data
Real-time and Future-time

Open, two-way real-time communication for your attention
Location, time and relationship specific
Multi-faceted rewards: price discounts, (un)branded content
Cross-sector partnerships
Attention auction

Significant consumer opportunities exist in the near-future, through unlocking the power of social media content and the science within it
What is your Return on Investment?
What is your Return on Attention?
As we continue to evolve with brands in the social media space, this Return won’t just be financial
Your ROA

Thank you @crudden Local Social Summit @ Social Media Week: The Science of Social Media February 2010 [email_address]

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Social media and the consumer opportunity

by Paul McCrudden on Feb 04, 2010

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Social media and the consumer opportunity — Presentation Transcript