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Social Influence Marketing Trends

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Razorfish VP, Global Social Media Lead, Shiv Singh's Top Social Influence Marketing Trends for 2010. Important trends and strategies to consider for your brand.

Razorfish VP, Global Social Media Lead, Shiv Singh's Top Social Influence Marketing Trends for 2010. Important trends and strategies to consider for your brand.

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  • The social space is first and foremost about people and relationships.Technology and platforms come and go.
  • On the left is Best Buy’s more traditional digital presence in the form of its website and a display advertisement. On the right is the CMO’s blog which as you can see from the image is more personal and casual. Below that is his Twitter feed which includes personal replies. And at the bottom is another Best Buy employee’s Twitter account.

Social Influence Marketing Trends Social Influence Marketing Trends Presentation Transcript

  • Social Influence Marketing Trends
    January 21, 2010
    @shivsingh

  • The purpose of a business is to create a customer

    – Peter Drucker
    @shivsingh http://goingsocialnow.com
  • The purpose of a business is to create a customer who creates customers
    @shivsingh http://goingsocialnow.com
  • Leaving your only job to be taking care of your existing customers
    Trust me, that’ll be harder not easier…
    @shivsingh http://goingsocialnow.com
  • TREND 1: SIM enters the mainstream
    @shivsingh http://goingsocialnow.com
  • TREND
    1
    SOCIAL
    INFLUENCE MARKETING
    DIRECT RESPONSE
    BRAND MARKETING
    This is a new dimension of marketing and it cannot be ignored anymore. It is not a channel or a tactic
    @shivsingh http://goingsocialnow.com
  • TREND
    1
    Dare you practice Social Influence Marketing?
    Allow the community to shape and evolve your brand
    Market to the community and not just the individual
    Use technology to bring you closer to customers, not further
    Let go of your content and the sanctity of your product pages
    Bring in the social graph and not just the customer
    @shivsingh http://goingsocialnow.com
  • Practicing SIM produced measurable business results for Mattel. Revenue increased during the course of the effort
    @shivsingh http://goingsocialnow.com
  • Do you need more of a justification for SIM? Pepsi using social instead of the Super Bowl ads for marketing purposes
    @shivsingh http://goingsocialnow.com
  • TREND 2: Social influencers drive sales
  • TREND
    2
    It is not just about a platform, yours or anyone else's
    @shivsingh http://goingsocialnow.com
  • TREND
    2
    72% of internet users say they are exposed to too much advertising
    Are you doing anything about that?
    @shivsingh http://goingsocialnow.com
  • TREND
    2
    We haven’t know how to reach these people
    And these have typically been ignored
    CUSTOMER
    Do you know who your key, social and peer influencers are?
    These continue to get the most attention
    @shivsingh http://goingsocialnow.com
  • Savvy Auntie is a social influencer for Disney’s customers. They partnered with her in 2009 to reach their target audiences. Who are your Savvy Aunties?
    @shivsingh http://goingsocialnow.com
  • TREND
    2
    Here are some others. Are you paying attention to these people? Do you know how to reach them? They matter more than you realize.
    @shivsingh http://goingsocialnow.com
  • TREND 3: Putting people before brands
  • TREND
    3
    By developing
    Social Influence Marketing Voices
    @shivsingh http://goingsocialnow.com
  • TREND
    3
    SIM Voices
    Multiple, authentic individual voices
    Transparent and googleable
    Engaging and conversational
    Appears where conversations are
    Unique to the person not the company
    Manifested in a real person
    Used only by real people
    Brand Voices
    Singular company voice
    Reflects the brand personality
    Everybody follows the brand voice
    Appears in all brand touch points
    Usually unique to the company
    Sometimes manifested in a person
    Used everywhere –signage to ads
    You’ve probably spent a 100 years developing strong brand voices. Now its time to develop strong SIM voices
    @shivsingh http://goingsocialnow.com
  • Once a upon a time Best Buy only advertised like this. The way many other companies continue to advertise
    @shivsingh http://goingsocialnow.com
  • But then it started developing SIM Voices starting with the CMO, Barry Judge and other members of his team
    @shivsingh http://goingsocialnow.com
  • Now they’ve taken their whole brand social – social influence marketing voices are the face of their brand across every channel and platform
    @shivsingh http://goingsocialnow.com
  • TREND
    3
    Brand VoiceSocial Voice Social Brand
    Where are you on this continuum? Where do you need to be?
    @shivsingh http://goingsocialnow.com
  • TREND
    3
    Your
    Community
    Your Brand
    Your Community
    Your Brand
    Also remember, you must make your community core
    @shivsingh http://goingsocialnow.com
  • TREND 4: Every decision becomes social
  • 3,000,000
    That’s the number of tweets a day. But what are they about?
    @shivsingh http://goingsocialnow.com
  • They are about influence. Here’s research from the auto space
    @shivsingh http://goingsocialnow.com
  • Social influencing matters in the car industry
    More than 20% of car recommendations by influencers are followed… even for such a personal purchase.
    Source: Yahoo! Advocacy Research.
    @shivsingh http://goingsocialnow.com
  • As a new car is a key conversation topic
    Connected consumers will tell 20 PEOPLE on average.How many people did you tell about your purchase?
    AUTOS
    CONSUMER
    ELECTRONICS
    HOTELS
    20.3
    14.7
    11.1
    Source: Yahoo! Advocacy Research.
    @shivsingh http://goingsocialnow.com
  • With brand conversations increasing online
    1 IN 10
    IS USING SOCIAL NETWORKS OR ONLINE FORUMS TO SHARE INFORMATION ABOUT PRODUCTS THEY LIKE.
    ADULTS
    21%
    OF CONSUMERS ARE LIKELY OR VERY LIKELY TO HAVE ONLINE SOCIAL INTERACTIONS WITH A CAR MANUFACTURER.
    Source: Forrester Research
    @shivsingh http://goingsocialnow.com
  • The point is you’re never going to buy a car again alone. You’re influencing and are being influenced everyday
    @shivsingh http://goingsocialnow.com
  • TREND 5: Measuring it all
  • TREND
    5
    What’s your SIM Score?
    SIM Score = Conversation Share + Sentiment*
    *Adjusted for influence
    This can be the single brand health metric you use to manage your brand in the social web. Ad Age and Forrester think this is worth looking into.
    @shivsingh http://goingsocialnow.com
  • IDEA
    5
    You can manage it against real world word of mouth too
    @shivsingh http://goingsocialnow.com
  • Mutual Funds: SIM Score over three weeks
    And track it over time to understand how you’re indexing against competitors
    @shivsingh http://goingsocialnow.com
  • IDEA
    5
    SIM Score questions to ask yourself
    • How does advertising impact the SIM Score?
    • How does the SIM Score change during the lifetime of a campaign?
    • Can you put a program in place to manage the SIM Score overtime?
    • Does the SIM Score adjust appropriately for varying levels of influence?
    • How does the SIM Score relate to other business metrics?
    • Can the SIM Score serve as a leading indicator for sales?
  • The final question are you evolving at the pace SIM is?
    4
    1
    Experiments
    The nephew tests
    2
    Social Platform Rush for Brands
    3
    SIM Strategy
    Integrated Marketing
    You’re somewhere on this continuum
    4
    Social Brands
    Becoming more human
    5
    Real time Brands
    with real time products
    6
    Managing the Community Model
    And probably need to move into these areas too
    @shivsingh http://goingsocialnow.com
  • 5 Trends for Social Influence Marketing
    SIM enters the mainstream
    Social influencers drive sales
    Putting people before brands
    Every decision becomes social
    Measuring it all
    @shivsingh http://goingsocialnow.com
  • Thank You
    Shiv Singh
    http://goingsocialnow.com
    twitter.com/shivsingh