Social Influence Marketing Trends for 2010

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

Leaving your only job to be taking care of your existing customers
Trust me, that’ll be harder not easier…

TREND 1: SIM enters the mainstream

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

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

Practicing SIM produced measurable business results for Mattel. Revenue increased during the course of the effort

Do you need more of a justification for SIM? Pepsi using social instead of the Super Bowl ads for marketing purposes

TREND 2: Social influencers drive sales

TREND
2
It is not just about a platform, yours or anyone else's

TREND
2
72% of internet users say they are exposed to too much advertising
Are you doing anything about that?

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

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?

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.

TREND 3: Putting people before brands

TREND
3
By developing
Social Influence Marketing Voices

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

Once a upon a time Best Buy only advertised like this. The way many other companies continue to advertise

But then it started developing SIM Voices starting with the CMO, Barry Judge and other members of his team

Now they’ve taken their whole brand social – social influence marketing voices are the face of their brand across every channel and platform

TREND
3
Brand VoiceSocial Voice Social Brand
Where are you on this continuum? Where do you need to be?

TREND
3
Your
Community
Your Brand
Your Community
Your Brand
Also remember, you must make your community core

TREND 4: Every decision becomes social

3,000,000
That’s the number of tweets a day. But what are they about?

They are about influence. Here’s research from the auto space

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.

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.

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

The point is you’re never going to buy a car again alone. You’re influencing and are being influenced everyday

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.

IDEA
5
You can manage it against real world word of mouth too

Mutual Funds: SIM Score over three weeks
And track it over time to understand how you’re indexing against competitors

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

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

Thank You
Shiv Singh
http://goingsocialnow.com
twitter.com/shivsingh

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Social Influence Marketing Trends for 2010

by Shiv Singh on Jan 21, 2010

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