Insights into 10 Trends that Matter and the Impact of Social Media

Insights into 10 Trends that Matter and the Impact of Social Media Neville Hobson Head of Social Media Europe WCG London March 8, 2010

In the Next 50 Minutes 1. Where does social media really fit into your business world? 2. Who else is using social media and what measurable benefits are they enjoying? 3. How do you identify online influencers and connect with them? 4. What can we do to support you right now?

Do You Know? • How, where and when does she discuss your/your client’s brand online? • With whom? • Do you know? With precision? http://picasaweb.google.com/lh/photo/ymWsJfDtfBl08zzMMxAkkg

10 Trends That Matter 1. Customers are co-shaping 6. You realize that media has your reputation every day already changed 2. You know exactly where 7. You realize customers want conversations are occurring, to do three things to help who has influence, and why each other 3. You know which types of 8. You understand ethical social media are preferred behavior is a key part of by your customers maintaining trust 4. You know that leaders will 9. You leverage the world’s identify issues before they greatest operating system – become critical the web – internally 5. You realize that less than 10. You are an active participant 1% of a customer’s time is in how the world is changing spent purchasing a product

The Era of Social Computing The social structure in which technology puts power in the hands of individuals and communities instead of institutions.

What’s In A Name?

Clear Behaviour Changes and Trends • We don’t trust “corporate-speak” or “marketing-speak” • We fast-forward our DVRs through the interruptions • We pull content that interests us • We create our own content, original and mashups • We embrace word of mouth and eschew mainstream media • We are connected wherever and whenever we wish • We bring our behaviors to the workplace

Reality

Clear Business Trends and Focus • Key Trends • Marketers are seeking lower cost solutions • Desire for more accountable channels • High focus on reaching customers directly • Mix shifting quickly from traditional to interactive channels • Areas of Focus • Social Media (CAGR of 34% to 2014 – Forrester) • Search Marketing (biggest bucket) • Display advertising, email marketing, mobile marketing next

Top 10 Online Influence Areas

The Media World Isn’t Changing… …it has already changed • Media Outlets: 74 of top 100 outlets for Techmeme are blogs/online sites • Bloggers: 3 of 4 look to each other for their next story • Customers: 3 of 4 look to each other for purchase advice • Conversations: the driver of share-of-voice, influence and recommendations Don’t define it as offline or online: it’s all one media world. Just know which conversations are defining your brand.

The New Media

http://www.gartner.com/DisplayDocument?id=1092512 Innovation Can Be Confusing in Real Time

The Formula for Success is Simple 1. Knowledge - Understand the marketplace • Clarity on trends, best practices • Educate and raise awareness 2. Clarity - Listen and learn with precision • Most quantitative area we’ve ever had to analyze 3. Influence - Identify the exact locations of influence and influencers • No guessing 4. Content - Focus on content syndication and conversations • Web sites are locations for content you want to share widely

The Formula for Success 1. Habits - Know how your customers search for knowledge • What are the questions they ask when they search? 2. Engagement - Empower customers in their three key areas of interest • Ideas, product knowledge and solutions 3. Leverage Technology - Utilize social media technology throughout your company • Improve collaboration, field sales input, redefine how you conduct market research and more

What You Learn by Listening • It’s about knowing • Where the conversations are happening • What your share is of the conversations • What are the conversations that you could / should be in • Who are the key influencers who can help build your brand • It’s about expanding your news flow • Simple syndication – distribute news via basic sharing tools (e.g., Twitter and Facebook) • It’s about understanding communities • Which groups, forums and networks matter? • Who drives Share of Voice in these communities? • What are the next steps in driving relationships? • It’s about leveraging the toolkit and practicing the discipline

How You Build Competitive Advantage • Complete knowledge of where • Ability to get ahead of issues the opportunity really is for to improve preparation your brand • See trends emerge before they • Where are conversations become public, in some cases occurring? Who has true • Capability to integrate your influence? learning’s into all brand • Clear, brief, actionable activities, eg, natural insights for your brand search/paid search, use of • Who are the top influencers? keywords and much more Which keywords matter? • Insights delivered so you can • Knowledge of your easily utilize them competitor’s actions • So that you outsmart them

Understand the New Rules of Engagement Imperatives: • We must reach the new influencers • On their terms • Engage in the conversation or fail to connect The Conversation Prism. Created by Brian Solis and Jess3 http://theconversationprism.com/

Understand Your Customers •Who they are •Where they are •Why they're there •Where you should be • Why? • How?

Understand Your Customers • Your customer is discussing your brand everyday • Do you know which words are important? • Do you look at search like an advertiser or a detective? • <10% of your customers will contact you in a good year • The majority of your customers utilize search and peer to peer contact to answer their questions • Where can you start to become a peer?

Understanding the Customer • Subway’s Twitter presence, @subwayfres hbuzz, attracted more than 6,000 followers in less than six months. • The sandwich shop franchise uses Twitter to interact with Subway fans two ways: 1. sending out product and promotional news 2. monitoring Twitter for buzz about its brand. http://www.entrepreneur.com/magazine/entrepreneur/2010/January/204380-2.html

Understanding the Customer • McDonald’s operates two main Twitter handles. • @McDonalds, which has more than 4,700 followers, is used for brand news and information as well as customer service • Internal research shows that the company is mentioned every 10 to 20 seconds on Twitter • @McCafeYourDay promot es the company’s line of specialty coffees. http://www.entrepreneur.com/magazine/entrepreneur/2010/January/204380-2.html

Understanding the Customer • In a little more than a year, @DunkinDonuts ga ined more than 38,000 followers by creating a place where people can share their Dunkin' Donuts experiences • The company focuses on creating a place where people can talk about how much they love Dunkin' Donuts products http://www.entrepreneur.com/magazine/entrepreneur/2010/January/204380-2.html

Be Where Your Customer Is http://www.nevillehobson.com/2010/01/27/proctor-and-gamble-embraces-facebook/

Customers Co-Shaping Your Reputation • Are you accidently outsourcing the building of your brand? • What is the impression of your brand?

It Pays To Listen http://ronamok.com/2008/12/17/ford-fansites-and-firefighting/

The Value of Listening A monitoring approach that tells us: • Who is driving share of conversation for your brand • What the top issues are that matter to your customers • Where your customers live online • How you can add value for your customers • When you should engage the community • Why customers are passionate on certain topics

Decisions • What to pay attention to • Pinpointing conversation trends: are there recurring or key topics being talked about? • Determining influence level of those talking: who’s listening to them? • What to do about it • Engage? How and when? • With what measurable goal?

How to Listen

Our Reality 1. Channels have Imperatives: fragmented • You must reach the new 2. Trust is critical influencers 3. Social media have • On their terms arrived • Engage in the 4. The consumer is in conversation or fail to control (kind of) connect 5. Content creation and distribution have been democratized

What Social Media Can Do for You • It’s about knowing • Where the conversations are happening • What your share of the conversations is • What the conversations are that you could / should be in • Who the key influencers are who can help build your brand • It’s about expanding your news flow • Simple syndication – distribute news via basic sharing tools (eg, Twitter and Facebook) • It’s about understanding communities • Which groups, forums and networks matter? • Who drives share of conversation in these communities? • What are the next steps in driving relationships? • It’s about leveraging existing content and improving your natural search

What Can You Do? Right now?

First Steps 1. Listen 2. Give up control 3. Be natural 4. Make a commitment 5. Be where your/your client’s customers are 6. Learn to deal with negativity 7. Be humble 8. Have a clear and measurable objective 9. Develop a plan 10. Listen

DIY • Google your/your client’s primary brand • Then see what’s being talked about in blogs • Plot a trend on Blogpulse • www.blogpulse.com • Open an account at Twitter, and listen • twitter.com

We Start… • Listen – know your customer’s world online with precision • Learn – make it easy to have all news at your fingertips • Focus on actionable insights – what exactly can inform your strategy • Identify who drives share of conversation – know the exact rank order of each influencer online • Expand your reach with a clear focus – launch a new way to add value and engage with your customers/ communities

Neville Hobson Head of Social Media, Europe WCG 25 Southampton Buildings, London WC2A 1AL, UK direct +44 7824 33 7000 skype nevonskype twitter jangles email nhobson@wcgworld.com blog.wcgworld.com

Insights into 10 Trends that Matter and the Impact of Social Media

by Neville Hobson on Mar 08, 2010

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