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Social Media Breakfast Club And Sysomos Presentation Sept 22 @DrNatalie
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Social Media Breakfast Club And Sysomos Presentation Sept 22 @DrNatalie

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  • Just love this! For someone like Reed Hastings not embrace social media makes you wonder..... He's on the BOD of Facebook right? #fail Netflix
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  • It's been an interesting week with social media and Netflix! In the presentation I've shown how social media monitoring might have given both Blockbuster and Netflix the mission critical data to guide their business! And this presentation gives some background on why social media ROI and social media business cases are critical to having executives understand the business value of social media. I've adopted Geoffrey Moore's Tech Adoption curve for Social Business...

    Love to hear your thoughts! @drnatalie Learn. Share. Grow!

    Here's links to the videos on Social Media and Social Business ROI:
    And links to two white papers on Social Media ROI:
    http://www.drnatalienews.com/blog/roi-of-social-media-white-papers-by-dr-natalie-petouhoff#

    How Social Media Helps the Whole Company


    How to Calculate the ROI of Social Media


    How to Make a Business Case for Social Media
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  • Social media is explodingBrands are no longer in control of their destiny Consumers “own” brands…and blog about it!Marketing investment continues to shift online
  • TRANSITION TO NATALIE
  • Transcript

    • 1. Social Media Monitoring &
      Measurement:
      Turning Data into Insights
      DR. NATALIE L. PETOUHOFF
      USC Adjunct Professor
      www.drnatalienews.com
      Curious?
      #SMB_LA #SMWLA @DrNatalie
      *Artwork by Joe Bertelli
    • 2. #SMB_LA #SMWLA @DrNatalie
      Social Media is Exploding
      Source: www.flickr.com/photos/grundlepuck/182445397/
    • 3.
    • 4. Agenda1. What to monitor and why2. Where social media ROI comes from- what to measure to get ROI 3. What happens when you don’t do social media monitoring
      #SMB_LA #SMWLA @DrNatalie
    • 5. Why Monitor?
      Why ROI?
      Why Now?You have to be curious to be successful…
      http://www.picturesofcats4you.com
    • 6. Social media adoption? Where’s your brand?
      Adopting companies are: innovators
      or
      early adopters
      The Social Media Adoption*
      * Adopted from: Crossing the Chasm”, by Geoffrey A. Moore
      Most companies are in the Early Majoritycategory
      • Early Majority are:
      • 7. Pragmatists
      • 8. They dislike unpredictability
      • 9. They need assurances
      • 10. SHOW THEM: what they’re going to do will work
      • 11. They are hard to win over
      #SMB_LA #SMWLA @DrNatalie
    • 12. That’s why business cases and ROI are now needed…
      Convincing Early Majority that social media matters
      • Requires something different…
      • 13. Something concrete…
      • 14. A business case…
      • 15. It requires ROI…
      The Social Media Adoption*
      * Adopted from: Crossing the Chasm”, by Geoffrey A. Moore
      #SMB_LA #SMWLA @DrNatalie
    • 16. SOCIAL
      CURRENCY
      is
      the value…
    • 17. WHY SHOULD
      YOU CARE?
      #SMB_LA #SMWLA @DrNatalie
    • 18. History give us perspective to see future opportunities…
      Dell Hell: it started with a post
      #SMB_LA #SMWLA @DrNatalie
      Source: http://www.buzzmachine.com/archives/cat_dell.html
    • 19. DELL SUCKS. DELL LIES. PUT that in Your Google and smoke it…And it gained momentum…
      @DrNatalie
    • 20. And led to dedicated haters…
      #SMB_LA #SMWLA @DrNatalie
      Source: http://www.buzzmachine.com/archives/cat_dell.html
    • 21. What was / is social media?
      #SMB_LA #SMWLA @DrNatalie
    • 22. Go back in time…People were predicting this…
      There would be… A place in time….
      Where the customer would in charge of the message …
      And there would be an enabling technology…We are here now…
      This is your opportunity!!!!
      #SMB_LA #SMWLA @DrNatalie
    • 23. Go back further…Many scholars had advocated to listen to customers, employees, partners..
      "Long-term commitment to new learning
      and new philosophy is required of management that seeks transformation.
      The timid and the fainthearted are doomed to disappointment.“
      -- W. Edwards Deming
      #SMB_LA #SMWLA @DrNatalie
    • 24. What’s new? NOT customer upset.The customer now influences one to many… The impact? Companies must listen…
      Does word of mouth
      Matter?
      Ask Tony and Alfred…
      #SMB_LA #SMWLA @DrNatalie
      Source: FastCompany.com and BusinessWeek.com
    • 25. What’s given fuel to the fire?The press has taken up the cause…
      #SMB_LA #SMWLA @DrNatalie
      Source: FastCompany.com and BusinessWeek.com
    • 26. Customer uses social media (youtube.com) to vent their frustration…
      The story ends up on CNN… Wolfe Blitzer’s…
      The Situation Room…
      #SMB_LA #SMWLA @DrNatalie
      Source: Youtube.com and CNN.com
    • 27. If you are going to take social media seriously…
      1. Start to do social media monitoring2. Grab screenshots that tell a story about what is happening to the business3. Show executives the screenshots & ask if this is something we should pay attention to….
      #SMB_LA #SMWLA @DrNatalie
    • 28. Why is ROI so hard?It’s a complexity issue…
      You have to have knowledge of and hold in your mind three things at once…
      Your traditional business goals & metrics
      Social media business goals and metrics
      How social media affect traditional business situations when you apply it
      #SMB_LA #SMWLA @DrNatalie
    • 29. #SMB_LA #SMWLA @DrNatalie
      PR & Marketing Research
      Focus Group
      Vs
      Online Community
    • 30. Cost of a Focus Group
      12 people = $15K
      1 focus group/month x 12 months = $180K
      #SMB_LA #SMWLA @DrNatalie
    • 31. Cost of a social media monitoring or an online community
      $7K=$200K
      Result: Continuous, ongoing, direct, authentic, genuine feedback from hundreds or thousands of people that can benefit PR and other departments
      #SMB_LA #SMWLA @DrNatalie
    • 32. Product Development and Launch
      Insulated prod dev
      Vs
      Community co-creation prod dev
      #SMB_LA #SMWLA @DrNatalie
    • 33. Cost of Engineers and Marketing Team
      1 engineer costs = $80K
      5 engineers x $80K = $240K +
      Marketing Launch costs…
      #SMB_LA #SMWLA @DrNatalie
    • 34. Cost of a Community
      Ask your customers what they want
      Use social media monitoring to learn
      $7K=$100K
      Record Sales
      #SMB_LA #SMWLA @DrNatalie
    • 35. Customer Service
      Call Center Agents
      Vs
      Online Community
      #SMB_LA #SMWLA @DrNatalie
    • 36. Cost of a Agent Salary
      1 agent costs = $50K-$80K
      200 agents x $50K = 10M
      #SMB_LA #SMWLA @DrNatalie
    • 37. Cost of a Community
      Engage advocates and experts
      $7K=$100K
      Happy, Loyal Customers
      #SMB_LA #SMWLA @DrNatalie
    • 38. How to calculate ROI:1. Determine what department 2. Determine the goals for the department3. Decide on metrics, monitor & measure- both traditional & social media
      #SMB_LA #SMWLA @DrNatalie
    • 39. What happens to brands that don’t….
      Understand what the customer is saying in social networks?
      That don’t do social media monitoring to understand their audiences?
      That don’t collaborate cross functionally on social media?
      That don’t adopt social media?
      Your brand
      Fractures a brand’s equity…
      #SMB_LA #SMWLA @DrNatalie
    • 40. It’s not that uncommon that a company looses it’s way…
      September 23, 2010
      • Blockbuster Video went into bankruptcy
      • 41. Why?
      • 42. Competition by companies like Netflix
      #SMB_LA #SMWLA @DrNatalie
    • 43. What could have helped Blockbuster?
      Social Media Monitoring…
      #SMB_LA #SMWLA @DrNatalie
    • 44. Blockbuster 2010
      If Blockbuster was listening to customers, they might have been able to shift…
      Sentiment towards Blockbuster*
      33% +
      36% -
      *Social Media Monitoring Data from Sysomos
      #SMB_LA #SMWLA @DrNatalie
    • 45. Blockbuster Demise / Netflix Rise 2010
      But Blockbuster didn’t listen and had to file bankruptcy
      #SMB_LA #SMWLA @DrNatalie
      *Social Media Monitoring Data from Sysomos
    • 46. Customer Sentiment Around Blockbuster Bankruptcy, Sept 2010
      *Social Media Monitoring Data from Sysomos
      #SMB_LA #SMWLA @DrNatalie
    • 47. Flash Forward to July 12, 2011
      Was Netflix listening?
      *Social Media Monitoring Data from Sysomos
      #SMB_LA #SMWLA @DrNatalie
    • 48. Example of Not Hearing…
    • 49. What happens when you don’t listen or hear &you act without considering what customers think, feel and know.
      #SMB_LA #SMWLA @DrNatalie
    • 50. Despite the >23,000 negative comments on the blog… July 12, 2011Netflix sent out a notice on the price hikeon Sept 19th, 2011
      and the results were...
      #SMB_LA #SMWLA @DrNatalie
    • 51. Press Coverage
      Qwikster (Netflix’s new offering) Sept 19th, 2011
      #SMB_LA #SMWLA @DrNatalie
    • 52. Negative Press Coverage
      Qwikster (Netflix’s new offering) –
      Sept 19th, 2011
      #SMB_LA #SMWLA @DrNatalie
    • 53. Qwikster (Netflix’s new offering) – Sept 19th, 2011
      *Social Media Monitoring Data from Sysomos
      #SMB_LA #SMWLA @DrNatalie
    • 54. Qwikster (Netflix’s new offering) Sept 19th, 2011
      Three top words in the
      Buzz Graph?
      #SMB_LA #SMWLA @DrNatalie
      *Social Media Monitoring Data from Sysomos
    • 57. #SMB_LA #SMWLA @DrNatalie
    • 58. #SMB_LA #SMWLA @DrNatalie
    • 59. #SMB_LA #SMWLA @DrNatalie
    • 60. Now Blockbuster is listening & hearing!
    • 61. Netflix didn’t even check the twitter handle-- @Qwikster
    • 62. May be it’s a good idea to listen to your customers!?!
      #SMB_LA #SMWLA @DrNatalie
    • 63. Did Blockbuster cross the chasm of it’s time?
      Did it shift with a changing marketplace? No….
      *The Social Media Adoption Chasm
      Where is your company in the adoption of social media?
      To help your company cross the chasm
      • Give them assurances
      • 64. SHOW THEM: what they’re going to do will work
      • 65. Show them that there is a business case & ROI can be calculated
      • 66. That it is not rocket science
      • 67. That the more things change, the more they stay the same…
      #SMB_LA #SMWLA @DrNatalie
      * Adopted from: Crossing the Chasm”, by Geoffrey A. Moore
    • 68. To be a long-term leader in any industry,
      You’ll have to cross the chasm to social media
      The Social Media Adoption Chasm
      Early Majority
      34%
      Early
      Adopters
      13.5%
      Innovators 2.5%
      Late Majority
      34%
      Laggards
      16%
      THE CHASM
      Social Media Adoption Curve
      Social Media Adoption Curve
      Are you a innovator, an early adopter or an early majority? What’s it gonna take for you to cross the chasm or die….?
      5
      #SMB_LA #SMWLA @DrNatalie
      * Adopted from: Crossing the Chasm”, by Geoffrey A. Moore
    • 69. Don’t do the ostrich…
      Imagine how silly
      you might look…
      #SMB_LA #SMWLA @DrNatalie
    • 70. … take your head out of the sand…
      and cross the chasm….
      #SMB_LA #SMWLA @DrNatalie
    • 71. DR. NATALIE L. PETOUHOFF
      Thank you!
      @drnatalie
      www.drnatalienews.com
      310-910-1542
      Link to the Social Media ROI videos:
      http://www.drnatalienews.com/blog/did-u-see-the-videos-on-the-roi-of-social-media
      Curious about
      The ROI of
      Social Media?
      Link to white papers on the ROI of Social Media:
      http://www.drnatalienews.com/blog/roi-of-social-media-white-papers-by-dr-natalie-petouhoff
      #SMB_LA #SMWLA @DrNatalie
      *Artwork by Joe Bertelli