Marketing Today & Social Media 11 10 09

Marketing in today’s changing world November 9, 2009

What business leaders need to know:

What has (and what hasn’t) changed in world of marketing

Understand the new media, technologies, and tools

How to build a smarter marketing strategy

Agenda

What hasn’t changed Great Product Compelling Positioning Effective Consumer Communication Strong Brand

One way communication with consumers

What has changed Yesterday Today

Two way communication

Increased consumer influence

Technology has opened doors to digital two way communication

Why has this changed

Two way communication has increased consumer influence

Consumers have easy outlets to voice opinions

2. Consumers trust what peers are saying over company messages

Consumers have easy outlets to voice opinions

Source: Universal McCann, September 2008

Why has this changed 2. Consumers trust what peers are saying over company messages

The conversation about your products/services … cannot be controlled

What these changes mean for marketers What should I do? Participate in the conversation – Be Transparent Learn where your consumers are Listen Respond Contribute valuable content

First step in determining if social media is right for you Participate in the conversation - Be Transparent Learn where your consumers are Listen Respond Contribute valuable content What ‘traditional media’ are my consumers using? What ‘social media’ are my consumers using?

Agenda

What is Social Media?

Types of social media Microblogs Blogs Email Social networking Ratings & Reviews Instant messaging RSS Readers Social bookmarking Wikis Webcasts / Podcasts Stay tuned for... Social media Multimedia sharing Any online/mobile conversation

Types of social media Email Social media Any online/mobile conversation Email Still Most Dominant Sharing Tool

Types of social media Social networking Any online/mobile conversation Social media Microblogs Facebook & Twitter User Base Growing Rapidly

Social media provides benefits to both companies & consumers Participate in the conversation Benefits to Company

Advertising: Fuel WOM Share relevant messages that your online army of advocates will spread to their networks. Improve search engine rankings.

Research: Make smarter decisions Learn more about your consumers quickly & cheaply. Monitor competition.

Customer Service: Respond proactively Respond to concerns, place to address negative PR & competitor attacks.

Consumer engagement : Increase loyalty Build a stronger, more human relationship with consumers.

Benefits to Your Consumers

Get questions answered Quick access to answers from both the company and your peers.

Receive special deals & offers Access to samples, coupons, promotions, privileged brand & product information

Feel valued Opportunity to share feedback and see a company act on it.

Participate in a like-minded community Chance to engage with others who share same interests.

Consumers want information & special offers most Participate in the conversation Benefits to Your Consumers

Get questions answered Quick access to answers from both the company and your peers.

Receive special deals & offers Access to samples, coupons, promotions, privileged brand & product information

Feel valued Opportunity to share feedback and see a company act on it.

Participate in a like-minded community Chance to engage with others who share same interests.

Brands can leverage social media to improve relationships with consumers

Social media connections with brands foster positive relationships with over 70% of consumers

Identify social media platforms your consumers are using Participate in the conversation - Be Transparent Learn where your consumers are Listen Respond Contribute valuable content What ‘social media’ are my consumers using? * Blogs Microblogs Ratings/Reviews Social networking Others? *Don’t forget mobile channels!

Mobile has changed our lives

Mobile internet usage is growing rapidly Sources: * Nielsen, ** Infonetics Now: 57MM mobile internet users in US* (+34% July ‘09 vs. July ‘08) Future: 21% CAGR estimated for 2008-2013**

Learn the social media that your consumers are using Participate in the conversation - Be Transparent Learn where your consumers are Listen Respond Contribute valuable content 8 Stages of Listening* Source: * Web Strategy by Jeremiah Owyang Stage Description 1) No objective at all Organization has a listening program but has no goals, nor uses the information for anything resourceful 2) Tracking of brand mentions Like traditional “clip reports” of media relations, companies now track mentions in the social space. Despite tracking there is no guidance on what to do next. 3) Identifying market risks and opportunities This proactive process involves seeking out discussions online that may result in identifying flare-ups, or possible prospect opportunities. 4) Improving campaign efficiency Rather than just measure a marketing effort after it’s occurred, using tools to gauge during in-flight behavior yields real-time marketing efficiency. 5) Measuring customer satisfaction In addition to customer satisfaction scores,organizations can measure real-time sentiment as customers interact. Sysomos and Backtype have focus areas into this space. 6) Responding to customer inquiry This proactive response finds customers where they are (fish where fish are) in order to answer questions. Example: Comcastcares account on Twitter asks customers if they need help –then may respond. 7) Better understand customers Evolving the classic market research function, brands can improve their customer profiles and personas by adding social information to them. 8. Being proactive and anticipating customers Minority Report: This most sophisticated form actually anticipates what customers will say or do before they’ve done it. By looking at previous patterns of historical data, companies can put in place the right resources to guide prospects and customers.

Learn the social media that your consumers are using Participate in the conversation - Be Transparent Learn where your consumers are Listen Respond Contribute valuable content

Learn the social media that your consumers are using Participate in the conversation - Be Transparent Learn where your consumers are Listen Respond Contribute valuable content Content Best Practices

Relevant & interesting content

Engage with them & their lives beyond just your products

Stay “On-Brand”

Consistency in tone and voice of brand personality

Authentic

Transparency with identity of authors posting content

Frequent postings & replies (appropriate to each platform)

Consistency across social media platforms

Clarity with employees what types of information are ok (and NOT ok) to post online

Welcome feedback and conversation

Support your fans - be positive

Agenda

How to build a smarter marketing strategy Understand new media/technology 1 2 Monitor your brand, consumers & competitors Test it yourself - Start a blog: - Start a microblog: - Give ratings & reviews: - Join social communities:

How to build a smarter marketing strategy Understand new media/technology 1 2 Monitor your brand, consumers & competitors Test it yourself - Start a blog: - Start a microblog: - Give ratings & reviews: - Join social communities: Build an informed strategy 1

Objectives:

Identify your company’s business objectives

Strategies:

Work together with marketing, research, PR, R&D, etc to develop consumer-centric strategies

Tactics & Metrics:

Develop tactical plans to support strategies.

Determine if social media is right for your consumer target and your company.

Choose social media platforms & create plan.

Assign resources.

2 3 How to build a smarter marketing strategy Reasons NOT to use Social Media

No strategy or plan

You do not have a strategy for using social media.

Lack of leadership support

Your leadership does not fully support it, or participate in it.

Employees blocked from participating

Your employees are blocked from using social media at work. Can’t expect to have a strong social media presence when the company isn’t engaged in it.

Lack of resource commitment

Do not have commitment to the time and resources necessary to do it well.

Consumer relationship is so strong you don’t need help

Your consumer base is so strong that you your efforts are better focused elsewhere (eg. Apple)

Objectives:

Strategies:

Tactics & Metrics:

Assign resources.

2 3 Social Media Ownership Social Media Exec Sponsor Customer Support Content Creation/Publishing Research / Focus Groups Competitive Monitoring Measurement Communication Tactical Roles: