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The Abcs Of Whats Next Humber
 

The Abcs Of Whats Next Humber

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Sean Moffitt, Agent Wildfire, shares his insight with marketing PR class at Humber on June 12,2009.

Sean Moffitt, Agent Wildfire, shares his insight with marketing PR class at Humber on June 12,2009.

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    The Abcs Of Whats Next Humber The Abcs Of Whats Next Humber Presentation Transcript

    • What’s Next in  Marketing, Communications & Media – The Trends that are Going to Drive Business …. and Your Career Forward - A Presentation by Agent Wildfire to Humber College Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Who Am I – Sean Moffitt The Most Interesting Man in the The Most Interesting Word of Mouth World Man in the World Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Who Am I – Sean Moffitt Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • The Future of Social Networking in the Year 3000 Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Our Mission @ Agent Wildfire “Get “Get Talked “Get Noticed” About” Advocated” Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Agent Wildfire…We Do This…We Do It Well Attention Overload Buzz Marketing Customer Collaboration Social Media Brand Communities Influencer Marketing Product Seeding Social Networks Referral Programs User Generated Grassroots/Cause Experiential Viral Content Marketing Marketing Marketing
    • We heart PR “Advertising has no credibility with consumers, who are increasingly skeptical of its claims and whenever possible are inclined to reject its messages. Publicity, on the other hand, provides the credentials that create credibility…. To get something going from nothing, you need the validity that only third party endorsements can bring.” Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    •  An Unbelievable Offer 36 Reasons Why 15 Pieces of 26 Bankable Trends People Talk Career Advice Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • WHAT’s NEXT IN SOCIAL MEDIA, WORD OF MOUT
    • 1. What forms of social media/WOM will experience the biggest growth in the next few years?
    • 1. What forms of social media/WOM will experience the biggest growth in the next few years? 1. Social Network Marketing 36% 2. Social Media (blogs/podcasts) 35% 3. Mobile Marketing 34%* 4. Customer/User Generated Content 30%* 5. Influencer marketing 27% 6. Brand communities/networks 21%* 7. Brand entertainment/advergaming 16% Source: Agent Wildfire Buzz Report 2009
    • 2. The biggest changes in culture, media and the marketplace causing a rise in social media/WOM?
    • 2. The biggest changes in culture, media and the marketplace causing a rise in social media/WOM? 1. Rise of Social Networks 36%* 2. Rise in New Tech./Media 29% 3. Web 2.0/Prosumer 27% 4. Media fragmentation/clutter 27% 5. Mass marketing effectiveness down 26% 6. Loss of trust/credibility 23% 7. Waning attention to media/messages 23% Source: Agent Wildfire Buzz Report 2009
    • 3. The biggest obstacles that continue to exist in implementing social media/WOM in your company/clients?
    • 3. The biggest obstacles that continue to exist in implementing social media/WOM in your company/clients? 1. Inability to measure 40% 2. Lack of budgets 31% 3. No accepted standards/benchmarks 29%* 4. Fear of loss of control 29% 5. Inability for culture to accept 25% 6. Technical skills/expertise not in place 23%* 7. Do not understand diff. bet. Mass marketing 21%* Source: Agent Wildfire Buzz Report 2009
    • 4. The biggest sins of the social media practitioner?
    • 4. Biggest sins of a social media/WOM practitioner : 1. Lack of authenticity 65%* 2. Lieing about identity 51% 3. Not creating 2-way dialogue 47% 4. Not having a strategy 38%* 5. Not measuring what happens 35%* 6. No link to business objectives 29% 7. Not changing company practice because of it 28% Source: Agent Wildfire Buzz Report 2009
    • 5. The Most Important Word of Mouth Attributes?
    • 5 Most important Word of mouth attribute (in order of priority): 1. Conversation worthy idea/concept* 2. Great product/brand 3. Customer/member experience provided 4. The People who Participate* 5. The Culture of a company* 6. A strong word of mouth generation process 7. Research/analysis/learning Source: Agent Wildfire Buzz Report 2009
    • 6. Most frequently stated objective for launching a social media/WOM initiative?
    • 6. Most frequently stated objective for launching a social media/WOM initiative: 1. Awareness/buzz/publicity 39%* 2. Leads/referrals/members 33% 3. Loyalty/affinity/lifetime value 29% 4. Participate in dialogue/conversation 28%* 5. Seed influencers/incubate ambassadors 24% 6. Launch products/services/ideas/news 22% 7. Build better customer experiences 21% 8. Accelerate sales/revenue 18%* 9. Target specific tough to reach audiences 18% Source: Agent Wildfire Buzz Report 2009
    • 7. Beliefs: Beliefs Strongly Agree Agree Agencies need to radically reinvent 39% 44% themselves to stay competitive Managing the customer experience is the 32% 50% key battleground for business We will be able to track conversations much 28% 48% more accurately over the next decade The marketing will become much more 20% 54% important to their org. by leveraging SM/WOM Radically new social media and word of 20% 51% mouth tactics will be adopted in the next few years Source: Agent Wildfire Buzz Report 2009
    • Should we Talk About The Elephant in the Room? Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • The economy is bad…like really bad Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Yikes, Advertising is taking it on the chin… -Group M forecasts a drop of 3.2% in 2009, Zenith Optimedia 5.7% down and Morgan Stanley could envision a 10% drop --- the actual drop in first quarter was down 14% Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • How will we carve up the pie… Well, we’ll be eating less media: - 93% of CMOs believe the economy will have a significant/moderate impact on their budgets - 70% of CMOs plan on reducing their marketing spending Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Another change you can believe in …  Canadian Marketers plan on spending more/less in 2009: More Less Newspaper 5% 32% Radio 5% 33% TV 4% 37% Magazines 3% 39% Social Media 23% 16% Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • There is hope… Agentwildfire.com …Don’t Despair, 26 trends to capitalize on smoffitt@agentwildfire.com 416-255-4500
    • Attention Overload 3,000 ads get pushed at us each day - 6 times the volume vs. 40 years ago…the tougher it is to breakthrough, the more we do and invest Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • We are Digitally Media Addicted Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Attention Overload Overcoming More Volume Captive Audience Filters …Be the First …Get Clever …Learn SEO, Get networked Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Brand Community Building Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Brand Community Building Finance- Wells Fargo Hospitality – Running - Nike Plus Stagecoach Island My Starbucks Idea B-to-B Travel – Starwood’s - Intuit Quickbooks Community Automotive - Camp Jeep The Lobby Tech – Dell Ideastorm eCommerce – eBay Powersellers Mobile – Virgin Insiders Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Customer Centricity Percentage of executives who believe the Customer Experience is the new battleground - 95% Percentage that believe they are delivering a positive customer experience - 80% Percentage of their customers who agree - 8% Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • CEOs – The Most Critical Driver to Achieving Growth  Business Strategy  19%  Customer Service  16%  Customer Experience  15%  Sales Force  11%  Marketing Strategy  11%  Product development  7%  5%  Pricing  4%  Distribution  ?  Advertising  ?  Promotions
    • Democratized Advertising & Marketing Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Walker’s Crisps – User Generated Content Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • The Rise of User Generated Media User Generated Media Company Generated Media All Respondents 34% 66% Matures (61-75) 23% 77% Baby Boomers (42-60) 27% 73% Generation X (25-41) 35% 65% Net Generation Millenials (13-24) 51% 49% Source: Harrison Group Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Experiences - of consumers who say majority of customer 49% experiences are “bland” Source: Gallup 69% - Of consumers who say emotions account for ½ of their customer experience Source: Strategic Resource Development Group, 2006 96&80% Of consumers who had a negative service experience in the past year AND those that subsequently severed the relationship Source: Customer Focus Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Experiences Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Free Agent Agency Enterprise Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Free Agent Agency Enterprise 80% Net Generation (13-24) 70% Other Segments (25-75) 60% 50% 40% 30% 20% 10% 0% Watching/Reading Socializing Creating Personal Reading/Posting Watching Content Content Message Boards TV Online Playing Online Watching Video Maintaining/ Keeping a Blog Games Streaming Sharing Photos (i.e. YouTube) Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Generation Y Impacts Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Generation Y Impacts Freedom • iTunes, Craigslist, Zipcars Customization • Nike ID, My Space, Jones Soda Scrutiny • Amazon, RED Integrity • Innocent Drinks, Vans, Trader Joes Collaboration • John Fluevog, Wikipedia, Doritos Entertainment • Red Bull, Axe, You Tube Speed • Zara, Calvin Klein, Google Innovation • Nokia, Toyota Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Generation Y Impacts Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Humanization of Brand Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • So True… Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Influencers “The Ones “The Ones Who Create Who Provide Ideas” Credibility” “The Ones “The Ones Who Spot & Who Connect Scout New & Spread the Stuff” Word” “The Ones Who “The Ones Sell and Lead Who Attract Opinions” Attention” Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • The Law of a Few - 70% of Wikipedia’s content is produced by 1.7% of its audience - Top ranked Influencer belief – “I love talking to others about things I’ve just discovered” - Influencers are 2x more active, more conversational and/or more brand-involved than the mainstream consumer Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Influencers Thinktank/ Scout/ Sounding Mystery Turning Users, Customers and Board Shopper Consumers User Customer Consumer Into Authors, Producers, Scouts, Testers and Collaborators & Broadcasters Collaborator/ Influencer Community Member/ Producer VIP Insider Evangelist/ Ambassador/ Advisory Advocate Into Community Seeded Council/ Adopter/ Members, Advocates, Ambassadors Cause Beta Tester Torchbearer and Evangelists Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Joint Ventures Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Karma Capitalism Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Local is Where It’s At Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Mobile Marketing Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Mobile Marketing Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Networking Integration Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Online Spending If we spend 30% of our media time online… 8-12% 30% …why do we only spend less than 8-12% of our budgets on web media? Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Psychographic Targeting/Profiling Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Quasi Profile Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Reputation Management Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Semantic Web Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Transparency/Authenticity 60% of people have a much more  61% of people claim to buy the same negative view of marketing and brands as their friends (+28 pts. Vs. 4 advertising than a few years ago years ago) 27% trust manufacturers  90% trust their spouse  14% trust ads  82% trust their friends  8%smoffitt@agentwildfire.com 416-255-4500 trust celebrities Agentwildfire.com
    • Transparency/Authenticity You supply commodiities - Available You control goods - Cost You improve services - Quality But you render experiences - Authenticity Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Transparency/Authenticity Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Uber Connectedness - 3.8 billion cell phone users - 1.6 billion Internet users - 1.1 billion social network members - 200+ million blogs - Ave. No. of Blog links - 12 - Ave. No. of Facebook friends/Twitter Follows – 120/70 - No. of Per Person Brand-Related Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500 Conversations Each Year – 4,650
    • Visual Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Word of Mouth Expected 5 year Compound Annual Growth Rate Word of Mouth 27% Internet/Mobile 14% Branded Entertainment 13% Custom Publishing 11% Out of Home 10% Agentwildfire.com Source: Veronis Suhler Stevenson smoffitt@agentwildfire.com 416-255-4500
    • XX Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • You Do It Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Zopa Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Future Marketing Tactics What forms of word of mouth will experience the most growth in the next few years ? (top 3 choices) Social media marketing 37% Social network marketing 35% Mobile marketing 34% User-generated Content 31% Influencer marketing 28% Brand communities 20% Customer forums 17% Branded entertainment 16% Cause-related marketing 14% Brand microblogging 14% Buzz marketing 13% Corporate/brand blogging 11% Source: Agent Wildfire Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Career/Interviewing Advice • Network like crazy- build a weak tie network • Get social network deep - Twitter/LinkedIn/Facebook/Flickr/YouTube/Digg • Be on Facebook, don’t be too drunk on Facebook Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Career/Interviewing Advice • Reinvent the Resume (Resume 2.0) • Volunteer for something good • Be vigilant on follow up • Attend events – MESH, CMA, Camps, Twitterbrunch, Netch ange, LOKU30 Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Career/Interviewing Advice • Have a game plan • Anticipate the big questions • Do your Google homework • Take a web course, any web course • Don’t take a first job beneath you Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Career/Interviewing Advice • Meet one new senior person every month • Negotiate for exposure, but don’t be a pest • Be different – bring a portfolio, a plan, wear something different, strike a bargain • If failing, let it hang out, show your passion Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • The Kickass Offer Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500
    • Let’s Start Your Next Brand Conversation… Inquire: info (at) agentwildfire.com Phone: 416-255-4500 URL: www.AgentWildfire.com Join: www.TheInfluencers.ca Blog: http://BuzzCanuck.typepad.com/ http://www.spreadslikewildfire.com/ Explore: The Buzz Report (e-newsletter) Signup at www.AgentWildfire.com Learn: Executive, WOM Seminars 79 Agentwildfire.com smoffitt@agentwildfire.com 416-255-4500