Figures and statistics are impressive- 600 million facebook users world wide, 1.8 million in Finland- ever growing amount of social networks- social media was marketing topic No 1 in 2010- social gaming reaches audiences unheard of- farmville sets a record with 80 million users
Key arguments why to use social media in marketing- being there where people are- being close to customers and having a long term relationship- having a deeper connection and understanding- savings on marketing- and media costs
From common sense to social media specialist and back- outcome of social media strategies unsatisfactory- basic understanding of trends, development and platforms is not enough
Social media failBranded twitter accounts with very few followersNon-engaging facebook apps from the assembly lineRepetitive mechanics without surprising elements, heavily supported by bought mediaFan pages with so called ’fans’ and no idea what to do with themBoring crowd source approaches from the shelveSocial media seminars all aroundFailure rate is really really high, reach and thus impact often very very lowConfusing messages in press, e.g.:Social media is sold outBrand open pages in social media,
What is social media?Our social networks have been extended and transformed by digital technology into a powerful mass media – into social media.
People are now mass mediaIf you are the media, brands and marketers have to earn their media space. It’s all about your behaviour. Brands have to earn your engagement.
Media trinity Bought media Owned media Earned mediaAll media space All media space or All media space oror placement we pay for placement we create action we have to earn and own ourselves by non-financial efforts Display advertising Websites Activity in e.g. banners social media Widgets / Apps Paid SEM WoM / Talk value e.g. google E-mail Participation Seeding Pages in social networks SEO e.g. google Strangers Customers FansHigh reach, low involvement, Medium reach, medium Low reach, high involvement,short-term activity. involvement, medium-term assets growing in value over time, activity. long-term activity.
Traditional: 4P’s of Marketing and Communication Strategy [ [ [ P P P P Product Promotion Placement Price Communication strategy Which messages should be communicated in whichstyle to whom via which channels with which objectives?
Traditional marketing funnel Source: Forrester research, Inc.
New school: 4 E’s of Marketing, Engagement strategy [ [ [ E E E E Experience Evangelism Everyplace Exchange Engagement strategy Which ideas and topics should be exchanged withwhich cultural groups at which place with which objectives? Source: http://www.ogilvy.com/On-Our-Minds/Articles/the_4E_-are_in.aspx
Marketing funnel 2010: Customer journey Source: Forrester research, Inc.
Two funnels! High interest: Low interest:Engagement strategy Communication strategy
- traditional and new will co-exist and inter-depend in a post digital era- media convergence: different media will get closer and borders blur- increasing level of complexity and fragmentation, again- holistic thinking based on behavioral research is key- companies organized in silos will feel more and more uncomfortable- planning and strategy are crucial, as non-linear, ongoing process
Key takeoutsDigitalization of social networks turned them to a powerful mass media.The ’media’ space in social media is a human being, not a website. Thus it is all about behavior.If people are the media, we have to engage with interesting content and ideas for people.Earned media is not free. We have to earn engagement by being relevant, useful or entertaining.Engagement marketing is easier to plan for high interest products and subjects.Don’t do social media, if you have no engaging content or ideas. That will fail.In 2011, the co-existence of media will turn even more to inter-dependence and convergence.We are entering an era of post digital. We are operating in complex systems.We need smarter, more innovative and more creative solutions to our business problem.Expect an extra planning effort. Strategy work as non-linear, ongoing and holistic process.