eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries
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eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries

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Join eMarketer analysts Victoria Petrock and Krista Garcia as they discuss social media strategies and tactics used in the automotive, travel, retail, pharma and financial services sectors.

Join eMarketer analysts Victoria Petrock and Krista Garcia as they discuss social media strategies and tactics used in the automotive, travel, retail, pharma and financial services sectors.

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eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries Presentation Transcript

  • JULY 19, 2012 Social Media Marketing for Verticals—What Works for Key IndustriesVictoria KristaPetrock Garcia Sponsored by: ©2011 eMarketer Inc.
  • Talking Points • How are marketers in key vertical industries using social media to achieve specific goals, and why? • Which social media tactics are a good fit for some industries but not for others? • How can marketers in regulated industries make the most of social media marketing? • What can marketers in different verticals learn from each other?Twitter: #eMwebinar © 2012 eMarketer Inc.
  • Social Media HasBecome Integral toMarketing © 2012 eMarketer Inc.
  • Social networking is growing both in the US and worldwide eMarketer forecasts that there will be 157.8 million US social network users in 2012, rising to 170.7 million in 2014. Worldwide, there will be nearly 1.4 billion users in 2012, rising to more than 1.8 billion in 2014.Image: FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • Companiesin manyindustriesarechargingahead withsocialmedia... © 2012 eMarketer Inc.
  • …and using it in a variety of ways “There’s no one specific use for social media. It serves many masters. ...You want to shore up brand loyalty. You’re trying to promote engagement with the online properties and, of course, awareness and conversation.” —Andy Murdock, US digital editor at Lonely Planet (Americas)Twitter: #eMwebinar © 2012 eMarketer Inc.
  • But one size does not fit allImage: Carlos Porto/ FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • Different social media make more sense for different industriesScale image: vichie81/FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • How and WhyIndustries Use SocialMedia Differently © 2012 eMarketer Inc.
  • Factors that help determine socialmedia strategy • What am I trying to accomplish? • Who is my target audience and what are their online habits? • What type of offering do I have? • How well does it lend itself to online discussion? • How much education must I do to market it? • How good is my company’s reputation? My industry’s reputation? • Are there privacy concerns that might make discussion in a social forum difficult? • Are there regulations or other restrictions on discussing it?Twitter: #eMwebinar © 2012 eMarketer Inc.
  • Different tactics are more suited todifferent industries(But the most effective are the ones that tap the “ME” inSocial MEdia) “Certain categories work better in social media because social is all about the creation of an identity by posting, then sharing those posts to create community.” —Jon Kubo, chief product officer at social commerce platform 8thBridge © 2012 eMarketer Inc.
  • Somecompanytypes aremuch morelikely to be“liked” onsocialmediathanothers © 2012 eMarketer Inc.
  • That’s whydifferentindustrieschoosedifferenttools andapproaches © 2012 eMarketer Inc.
  • Automotive:Building Upper-FunnelBrand and ModelAwareness © 2012 eMarketer Inc.
  • Auto shoppers go online for research andrecommendations...“We know thatmore than 90%of folks are doingtheir autoresearch online.”—Jon Brancheau,VP of Nissan marketingat Nissan North America Image: FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • ...and areinfluencedby socialmedia in anumber ofways © 2012 eMarketer Inc.
  • Automakers have found particularsuccess in building product awareness“Social works best in the upperpart of the funnel. That’s not tosay there aren’t specificinitiatives you can apply in thelower funnel, but we find socialis great to build brandconsideration with differentaudiences.”—Carolin Probst-Iyer, manager of digital consumer engagement atChevroletTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Auto brands use social media to driveconversation and build excitementTwitter: #eMwebinar © 2012 eMarketer Inc.
  • The Nissan Versa Road Trip contestsupported the model’s launch “The level of engagement has exceeded our expectations in terms of the numbers of people who have engaged and shared with their friends.” —Jon Brancheau, VP of Nissan marketing at Nissan North AmericaTwitter: #eMwebinar © 2012 eMarketer Inc.
  • BMW’s “0 to Desir3” encouraged aspirational interest and brand advocacy “It depends, but predominantly [social media] is more about engagement, sentiment and building a base of brand advocates than it is about a lead to a dealer.” —Kate Alini, social media and emerging technologies manager at BMW of North AmericaImage courtesy of BMWBLOG.comTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Travel:Building LoyaltyThrough Outreachand Customer Service © 2012 eMarketer Inc.
  • Travelbrandsmustdirectlyand quicklyaddressreputationandcustomerserviceissues © 2012 eMarketer Inc.
  • They were early adopters in using social media for customer outreachImage: Stuart Miles/FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • Airline and hotel brands focus oncustomer service to build loyaltyTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Reviewson socialsites carryweightwithtravelers;hotelsmonitorthemclosely © 2012 eMarketer Inc.
  • Hyatt and Marriott use social media toengage with valued guestsTwitter: #eMwebinar © 2012 eMarketer Inc.
  • The airline industry is already among themost responsive on Twitter…Twitter: #eMwebinar © 2012 eMarketer Inc.
  • KLM used a “Surprise” campaign to build goodwill and loyalty “Treating customers as actual ‘friends’ by being open, transparent and authentic, we hope to receive valuable feedback, co-create with followers and answer their questions with our 24/7 support on social. —Anna Ketting, manager of social media at KLMImage courtesy of KLM © 2012 eMarketer Inc.
  • Retail:Inspiring Shoppersand Rewarding Fans © 2012 eMarketer Inc.
  • Among USretailersonFacebook,promoactivitiesare farmorecommonthancommerceefforts © 2012 eMarketer Inc.
  • Most major retailers have closed downFacebook commerce operations © 2012 eMarketer Inc.
  • What went wrong?Twitter: #eMwebinar © 2012 eMarketer Inc.
  • More than half of consumers areconcerned about safety © 2012 eMarketer Inc.
  • Oscar de la Renta and Bobbi BrownCosmetics use Facebook exclusivesTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Younger users could hold the key tosuccess on Facebook © 2012 eMarketer Inc.
  • The death of Facebook commerce maybe greatly exaggerated © 2012 eMarketer Inc.
  • Pinterest holds potential for retailersTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Image-sharing is powerful, but the pathto monetization is unclear © 2012 eMarketer Inc.
  • Regulated industries face a unique setof social media challenges “Brands that have more restrictions and regulations need to be more creative with the way they’re leveraging social media channels than some consumer product companies.” —Paul Dalessio, senior vice president at Fleishman-HillardImage: FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • Financial Services:Building StrategicPersonal Relationships © 2012 eMarketer Inc.
  • In the financial industry, it’s all about who you knowImage: Nutdanai Apikhomboonwaroot/FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • Financialreps areusingsocialmedia toestablishstrongerrelation-ships © 2012 eMarketer Inc.
  • Financial brands are also using socialmedia to cultivate new businessTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Financial services firms put high priorityon personal-relationship development © 2012 eMarketer Inc.
  • Charles Schwab uses @Schwab4RIAs to communicate with investment advisors“Before we launchedthe Twitter channels,we partnered closelywith our complianceand legal teams toassemble policies andprocedures thatwould keep us withinregulations.”—Lindsay Tiles, director ofcorporate public relations atCharles SchwabTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Guardian Life works with SocialWare tohelp agents use social media “We have offices around the country that are coming back saying that the No. 1 source of new referrals into the business is social media.” —Steve Holstein, CMO of Guardian Life Insurance Company of AmericaImage courtesy of Guardian Life Insurance Company of America © 2012 eMarketer Inc.
  • Pharmaceuticals:Fostering Education,Information andCommunity © 2012 eMarketer Inc.
  • Internet users seek health-relatedinformation and community onlineTwitter: #eMwebinar © 2012 eMarketer Inc.
  • But the pharmaceutical industry faces tall regulatory hurdles online “The adage ‘everyone wants to be second’ is still at play, as brands watch each other and observe the FDA’s reaction to various social experiments.” —ComBlu, “The State of Online Branded Communities”Image: scottchan/FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • Pharma companies are using socialmedia to educate and informTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Pfizer introduced the “Get Old” project to raise awareness of aging issuesImage courtesy of PfizerTwitter: #eMwebinar © 2012 eMarketer Inc.
  • The “Lilly Pad” blog supports government affairs and policy initiatives“We don’t talk about products oreven have an in-depth disease-stateconversation without gettingspecial permission through ourlawyers and other powers that be.” —Greg Kueterman, director of corporate communications at Eli LillyImage courtesy of Eli Lilly & Co.Twitter: #eMwebinar © 2012 eMarketer Inc.
  • Sanofi tapped its influencer networkduring an insulin pen recall Outreach to carefully cultivated influencer community of bloggers, community managers and advocacy organizations Communicated details about the recall of the Apidra® SoloSTAR® Pen and where to go for more information Integrated efforts with other online media, including Twitter and paid search and sent email and direct mail to prescriber base and pharmacists Reached 25,000 people within 24 hoursTwitter: #eMwebinar © 2012 eMarketer Inc.
  • Though uses may differ, social media best practices cut across industries • Listen first and listen often • Create a solid strategic plan • Be honest and transparent • Involve the whole organization • Develop good relationships with legal and regulatory advisors • Give careful thought and effort to measurementImage: Danilo Rizzuti/FreeDigitalPhotos.net © 2012 eMarketer Inc.
  • Key Takeaways  A shotgun approach won’t work. Strategies and tactics are industry- and company-specific. Do what works best for you and focus on doing it well.  Campaigns are consolidating around top platforms, but there is room for growth. Look beyond Facebook and Twitter if and when it makes sense.  Campaigns that add value get the most traction. What does the audience want and how can you give it to them?  Best practices cut across industries. Strive for consistency, transparency and measurability.Twitter: #eMwebinar © 2012 eMarketer Inc.
  • WHY PINTEREST?BY THE NUMBERSExtreme GrowthAccording to ComScore, Pinterest is the fastest growing social network in both unique visitors and clicks fromsearch engines. The network saw +4377% growth between May 2011 and May 2012. Pinterest users werefound to spend more, buy more items and conduct more online transactions than other social media buyers.Site EngagementPinterest ranks behind only Facebook and Tumblr for user engagement time. Many users describe Pinterestsessions as addictive, leading to 98 minutes per month for the average user.Traffic ReferralsIn June Pinterest scored its highest referral traffic yet, surpassing Bing and Google (referral) for the first time.It now ranks only behind Facebook, Yahoo, and Google (organic). Additional Source: Tech Crunch, Shareaholic
  • LOWE’S HOME IMPROVEMENT Lowe’s does an excellent job segmenting their boards for specific user needs and interest areas. Holiday themes (Christmas & V-Day), passion subjects (Pets & Crafts), product/room specific (Lighting, Bedrooms, Bathrooms). They even leverage sponsorship by featuring NASCAR driver Jimmie Johnson’s Instagram pics.U n iq u eF e a tu reGift card boarddrives retailconnection with8K+ followers.
  • PINTEREST FACEBOOK INTEGRATION
  • THANK YOUABOUT VITRUEVitrue is the global leader and innovator of social enterprise software. Itoffers the industry’s most scalable and secure cloud-based social marketingsolution, enabling brands to harness the full marketing potential of social onFacebook, Twitter, Google+, YouTube and emerging platforms. First-to-market with Instagram and Pinterest modules, the award-winning VitrueSRM platform collectively manages more than one billion social relationshipsin over 100 countries across more than 4,500 social accounts for its clients.For more information, visit www.vitrue.com, Like on Facebook and followon Twitter.
  • Q&A Session Learn more about digital advertising with an eMarketer corporate subscription Social Media eMarketer publishes more than 120 reports Marketing for each year. The following are just a fewVerticals—What Works reports about industries and social media: for Key Industries  Social Media for Industries: Assessing Opportunities in Automotive, Travel, Financial Services and Pharmaceuticals  Facebook Commerce: Reaching Shoppers Where They Socialize Victoria Petrock Krista Garcia  Social Media for Travel Marketers: Cultivating Conversation to Capture Customer Sentiment You will receive an email tomorrow with a link to  Worldwide Social Network Usage: Market Size and view the deck and Growth Forecast webinar recording. Sponsored by: To learn more: www.emarketer.com/products 800-405-0844 or webinars@emarketer.com Vitrue ©2012 eMarketer Inc.