Conversations are the new currency

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Conversations are the new currency, presented by Stijn Poffé & Timo Vandemaele at UGent on October 31, 2013.

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Conversations are the new currency

  1. 1. CONVERSATIONS ARE THE NEW CURRENCY Stijn Poffé Timo Vandemaele
  2. 2. Timo Vandemaele        Stijn Poffé 25 yo Pursuing the love of my life Working @ InSites > 2 years Master Applied Economics Ugent Master Marketing Management Vlerick Curious how brands interact with the ‘new consumer’ Working for Media and Entertainment brands like VMMa, FOX, MTV, Kinepolis, etc. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230        26 yo Trying to be globally connected Working @ InSites > 2 years Master Applied Economics KUL Master General Management Vlerick Loves marketing Working for Media and FMCG brands like AB Inbev, MTV, Coca Cola, KBVB, etc. @TIMOVANDEMAELE 2
  3. 3. #insites Founded 1997 as a business school spin-off Structure Fully independent, 7 managing partners Growth Average yearly growth +25% Locations USA I ROM I UK I NL I BE Team 125 passionate & talented people Reach Global Consumer & Moderator Network Clients +35% of 2012 Best Global Brands (Interbrand) Awards ESOMAR I AMA I ARF I MRS I MOA I AMMA
  4. 4. LET’S SEE WHO IS CONNE CTED CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  5. 5. 1 2 3 4 CONVERSATIONS ARE THE NEW CURRENCY Timeline The new consumer Conversation company Do’s & Don’ts @STINUS230 @TIMOVANDEMAELE
  6. 6. 1234 Timeline. What has happened in the past few years? CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  7. 7. Networking is nothing new “You can reach everyone in the world in just 6 steps.” -- 1938 Frigyes Karinthy, Hungarian journalist CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE 7
  8. 8. 1982 1994 1997 1999 2002 2003 2004 2005 2006 2007 2008 2009 2010 CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE 2013 8
  9. 9. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  10. 10. 1234 The new consumer How did this change the consumer? CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  11. 11. WHO IS THIS NEW CONSUMER? CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  12. 12. ? ? 4 things to remember about the new consumer ? CONVERSATIONS ARE THE NEW CURRENCY ? @STINUS230 @TIMOVANDEMAELE
  13. 13. 57% A person from your contact list CONVERSATIONS ARE THE NEW CURRENCY 14% A company @STINUS230 @TIMOVANDEMAELE
  14. 14. Everyone is a critic/reviewer and the outcome may leverage your brand… CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  15. 15. ... or damage your brand CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  16. 16. Perfect information Consumer-generated Trustworthy Lightning fast Fuelled by social media ? ?      ? CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  17. 17. empowered ? ? CONVERSATIONS ARE THE NEW CURRENCY ? @STINUS230 @TIMOVANDEMAELE
  18. 18. Cultures were never so close CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  19. 19. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  20. 20. Stimulation junkies. On the go, but 100% connected. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  21. 21. empowered    Globally in touch Hyper fast learning Raising bar of expectations ? CONVERSATIONS ARE THE NEW CURRENCY ? @STINUS230 @TIMOVANDEMAELE
  22. 22. empowered cosmopolitan ? CONVERSATIONS ARE THE NEW CURRENCY ? @STINUS230 @TIMOVANDEMAELE
  23. 23. 83% CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  24. 24. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  25. 25. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  26. 26. Higher purchase intention for products co-created by peers. (van Dijk, 2012) CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  27. 27. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  28. 28. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  29. 29. empowered cosmopolitan ? CONVERSATIONS ARE THE NEW CURRENCY    @STINUS230 Sharing feedback Walking in our shoes Concrete business outcomes @TIMOVANDEMAELE
  30. 30. empowered cosmopolitan smart co-creator ? CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  31. 31. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  32. 32. The paradox of choice. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  33. 33. empowered cosmopolitan smart co-creator     Rational overload Emotional heuristics Herd behaviour Emotional sharing CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  34. 34. empowered cosmopolitan emotional smart co-creator CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  35. 35. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  36. 36. It’s the media, stupid! CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  37. 37. 1234 Conversation Company. How should companies adapt? CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  38. 38. STEVEN VAN BELLEGHEM CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE 39
  39. 39. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  40. 40. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  41. 41. 50% of social network users follow at least 1 brand online. On average, people follow 8-12 brands in a passive way and about 3-6 in an active way. Social Media Around The World, InSites Consulting, 2012 CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  42. 42. On average, 8 out of 10 consumers want to help brands that they like 98 96 91 81 77 69 % % % % % % Social Media Around The World, InSites Consulting, 2012 CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  43. 43. On social network sites, brands should… offer product information offer promotions 57% 54% invite consumers to help improve a product / service 50% give away free stuff 50% bring news 50% announce events 49% give the ability to order / purchase products / services 48% share ideas and provide updates on future products, services, etc. explain what they will do with my feedback / how they will solve my… give feedback 46% 46% 45% Social Media Around The World, InSites Consulting, 2012 CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  44. 44. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  45. 45. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  46. 46. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  47. 47. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  48. 48. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  49. 49. WE ARE FACING A CHECKLIST ATTITUDE CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  50. 50. We need to make consumers an integral part of everything we do. Mariken Kimmels / H.J. Heinz CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  51. 51. SOCIAL MEDIA ARE NOT THE GOAL CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  52. 52. SOCIAL MEDIA are the perfect PARTNER of the CONVERSATION COMPANY CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  53. 53. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  54. 54. high All four quadrants have value low Structural collaboration low ? ? ? ? Reach CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE high
  55. 55. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  56. 56. Structural collaboration ? ? ? Reach CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  57. 57. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  58. 58. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  59. 59. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  60. 60. Structural collaboration ? ? Reach CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  61. 61. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  62. 62. Structural collaboration ? Reach CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  63. 63. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  64. 64. Structural collaboration Reach CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  65. 65. 1234 Do’s & Don’ts. What should you remember from this? CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  66. 66. empowered cosmopolitan emotional smart co-creator CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  67. 67. CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  68. 68. DON’T THINK CHECKLIST ! CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  69. 69. SOCIAL MEDIA ARE NOT THE GOAL CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  70. 70. SOCIAL MEDIA are the perfect PARTNER of the CONVERSATION COMPANY CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE
  71. 71. high All four quadrants have value low Structural collaboration low ? ? ? ? Reach CONVERSATIONS ARE THE NEW CURRENCY @STINUS230 @TIMOVANDEMAELE high
  72. 72. P Stijn Stijn@insites-consulting.com @Stinus230 Timo P Timo@insites-consulting.com @TimoVandemaele CONVERSATIONS ARE THE NEW CURRENCY

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