Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Value of an idea in the era of Social Media 2010

1,183 views

Published on

What's the value of an idea in the era of Social MEdia

Published in: Business, Technology
  • Be the first to comment

  • Be the first to like this

Value of an idea in the era of Social Media 2010

  1. 1. WHAT’S THE VALUE OF AN IDEA IN THE ERA OF SOCIAL MEDIA? 2010 - Laurent François http://twitter.com/lilzeon
  2. 2. About me Head of Marketing & Development @Express Roularta Services (2010-now) Head of 360° Digital Influence practice @ Ogilvy (until 2010) Blogger & cofounder of Tout Ca Magazine (http://citizenl.net & http://www.tout-ca.com ) ESCP Europe (MEB) Sciences Po UCLA to get in touch: enzo.francois@gmail.com http://twitter.com/lilzeon http://pearltrees.com/lilzeon
  3. 3. Few things on the world we live in
  4. 4. Liquid Modernity (Zygmunt Bauman) • End of « solid institutions » like churches, classic pyramidal families –> a need for new ways to get solutions • privatization of ambivalence –> tests are made by the individuals themselves, who directly « feel » & experience global issues • Uncertainty everywhere –> as there's no longer absolute truth, a need to get reinsurance • Nomadism everywhere –> in life (collapse of long-term wedding, disruptive work-life...) “Luckily, with these changes has come an increasing openness to doing new things. Online dating has grown so much in part as a response to these societal changes, having become the third most important way we meet our significant others, even though it didn’t even exist 15 years ago.” » Greg Blatt, chief executive of Match.com
  5. 5. Attention economy • Less & less time to solve more & more problems • distance matters less than time • price is not only dependent on the transformation process (input / process / output) but on attention-based principles "...in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it" (Simon 1971, p. 40-41) What the most important asset is: access to relevant information” Herbert Simon
  6. 6. In this environment, good ideas are threatened by an environment of constraints and by personal lack of time… Environment of risks • Uncertainty everywhere • Purchasing power in disgrace Personal strategies • Lack of overal knowledge • Time constraint
  7. 7. “Americans conducted 14.8 billion core searches in April 2009“ comScore …which tries to be solved through the internet.It may be a massive online problem solving system… “of the customers who shop for high-end merchandise online, 78 percent of them did so in order to find the best price while nearly as many, 77 percent, did so to compare brands” BrandWeek, January 2010
  8. 8. …but it’s much more than a super-computer
  9. 9. It’s not only a magic generation issue.It’s the economics, society, technics, ethics, needs, ideas, entrepreneurs, history, whatever (stupid)
  10. 10. …as if we were amplified and if our thoughts, feelings and actions were opportunities of conversations…
  11. 11. So what could be the value of an idea in the era of Social Media?
  12. 12. Value: an ambigous notion • Basically: – Value is dependent on your need – Value is dependent on the way you express it – Value is highly dependent on the context – Value is highly dependant on the time – Value is something highly personalized « a fair return or equivalent in goods, services, or money for something exchanged the monetary worth of something : market price relative worth, utility, or importance <a good value at the price> <the value of base : a numerical quantity that is assigned or is determined by calculation or measurement <let x take on positive values> <a value for the age of the earth> something (as a principle or quality) intrinsically valuable or desirable <sought material values instead of human values — W. H. Jones> Merriam-Webster
  13. 13. So value is only SOMETIMES directly linked to money
  14. 14. The state of ROI in Social Media Marketing • TV influenced the way marketing metrics are shaped – Audience based – Static based • A strong debate btw advertisers, media agencies, social media players & at the end: brands “Say an advertiser wants to buy 20 gross rating points. When network television audiences were larger, this might be accomplished by buying one 30-second spot. Today, buying those same 20 gross rating points might require buying multiple spots, which means the advertiser is using up more of a finite resource — the amount of airtime on the broadcast networks. Scarcity heightens demand, and heightened demand raises prices. That’s how the marketplace justifies its price increases. Even if the logic is cock-eyed —there are plenty of other ways to reach people besides TV commercials, after all — it creates a rationale the marketplace can deal with” Catharine P. Taylor
  15. 15. Wrong principles • People are more & more empowered • They're not passive anymore in the way TV could consider it • People are more & more linked through interests than through their ages or sex – Because they look for information – Because they're liquid • People can consolidate horizontal clusters against vertical communication – Nestlé bad buzz “The basis for this tension between operational issues and constraining analytic tool choice is often that analyst think that they are done when the model is "right". Many analysts seem to believe that they can declare victory and pat themselves on the back when the model is accurate, statistically valid, highly predictive etc. They will often talk about all sorts of statistical measures that "prove" the model is a good one. Yet, in fact, the only results that matter are business results. If the model is accurate but impractical to implement then it adds no business value and should, therefore, be considered a bad model. ” James Taylor
  16. 16. Value lies in communities of interests
  17. 17. Why communities matter to value an idea • The value of an idea lies in the using of it » Thomas Edison • People are now both the “audience”, the stakeholders and the amplifiers of the ideas • The bone of contention: – Trying to get metrics from human interactions & conversations – Trying to quantify what is highly complicated to do « It can only begin to have value when it’s an idea + execution. Till then, it’s still just an idea. When you combine an idea + great team + execution, it can start to have potential but the real value remains zero, until it gets tested/evaluated by real customers. That’s when you can start to estimate the real potential of “the whole package” again not the idea alone. » Valto Loikkanen
  18. 18. Uniqlo understood it! « Statusphere » Trendwatching
  19. 19. Entering social metrics • The world is neither flat in Social Media nor perfectly equal: – Mapping communities is key to understanding which public are outreached by individuals – It’s then important to measure the importance of your idea-related topics in these groups « blackboxing is the way scientific and technical work is made invisible by its own success. When a machine runs efficiently, when a matter of fact is settled, one need focus only on its inputs and outputs and not on its internal complexity. Thus, paradoxically, the more science and technology succeed, the more opaque and obscure they become. » Bruno Latour
  20. 20. • An example of modelization of communities
  21. 21. Social metrics should not be static • Conversations among people are dynamic – The fuel of this dynamic is the relevance people give to a topic or another – It’s utterly important to position your idea in this moving system ”It's a process, not an event. Dating is a process. So is losing weight, being a public company and building a brand. On the other hand, putting up a trade show booth is an event. So are going public and having surgery. Events are easier to manage, pay for and get excited about. Processes build results for the long haul” Seth Godin
  22. 22. • Therefore ideas should be able to touch people depending on the ties they’re ready to manage with them – Strong ties (your close buddies) – Weak ties (your groups of interests) – Temporary ties (when people are over-active to reach a goal) • At the end, we can only manage 150 ties according to Paul Adams (UX Google lead) “We care about the direct relationship with the "one" but count on the effect of the one passing along to their many either explicitly or more subtly” John Bell, MD & ECD 360°Digital Influence, Ogilvy
  23. 23. Metrics me
  24. 24. Ogilvy 360o Digital Influence Conversation Impact™ Model: Summary • Allows cross-channel / media mix & campaign optimization • Evaluates influencer and end user campaign impact • Segments metrics around key marcom funnel points: • Reach & Positioning • Audience exposed to message • Brand positioning • Preference • Audience preference for brand • Action • Sales & other action • Examples on the right Campaign 1. Influencer Impact (Preference) Share of Positive Voice Campaign 2. End User Impact (Positioning/Preference) In-Category Awareness, Purchase Intent, Sentiment
  25. 25. Conversation Impact Dashboard - Overview Metric / Funnel Goal > Data Aware- ness Considera- tion Prefer- ence Action Loyalty Reach/Positioning • UMV – blogs, site, microsite, applications, other, total # / % change Real-time to weekly • Volume of online conversation, #/% change, Cost per Online Conversation Generated (CPICG) Real-time to daily • Share of voice in category (=Volume for brand / volume for category), # / % change, Cost per Increase in Share of Voice (CPISV) Real-time to daily • Search visibility (for relevant keywords) Real-time to weekly Preference • Sentiment index of online conversation (% positive - % negative), # / pts change, consumers reached vs. all, Cost Per Increase in Sentiment Index (CPISI) Daily • Share of [net] positive voice in category (=[Net] positive brand mentions / [net] positive category mentions), # / % change, consumers reached vs. all, Cost per Increase in Share of Positive Sentiment (CPISP)* Daily • Relative net promoter score (NPS) in category (=brand NPS / category NPS), # / % change, consumers reached vs. all, Cost per Point Increase in NPS (CPINP) Monthly/ Quarterly survey Action • Registration: RPA, CPA, $, # Daily to weekly • Sale: RPA, CPA, $, # Real-time to weekly • Advocacy: RPA, CPA, $, # Real-time to weekly *Net positive voice is defined as positive – negative mentions
  26. 26. Rethinking the idea of value: reputation as the new currency to achieve great ideas
  27. 27. People: shareholders of the value of an idea • As seen before, the way people demonstrate their addiction to an idea is expressed through conversations & positive share of voice • Main objective for an idea-maker: managing, increasing and improving reputation around its idea ”As Obama says, we are the ones we’ve been waiting for (…). In other words, we need fewer old leaders, and more love” David Weinberger
  28. 28. A methodology to make an idea worth it in the era of social media ”The purpose of a business is to create a customer” Peter Drucker “the purpose of a business is to serve a customer who creates customers" (Razorfish VP Shiv Singh)
  29. 29. Ogilvy Big Ideal • Transform an idea into an ideal – Dynamic approach – Focus on a specific society need • A way to include people’s attention to your message – Because it may feed their daily life – Because they can take part to this ideal « Simply stated, a Big Ideal is a universal, enduring theme that a brand stands for. It’s the emotional center. And we have found that the best way to locate this emotional center is to start with a deep understanding of what your brand is really great at – your brand’s best self – and then to connect this to an important cultural truth or trend that is going on in society. This is a place where you will fi nd energy and passion » Brian Fetherstonhaugh. Chairman & Chief Executive Officer OgilvyOne Worldwide
  30. 30. Step 1: listening • Using Social Media free tools to start listening to online conversations – Identification of key words or equations of key-words that people are using • Google ad word tools • Experience blogsearch – Set up of alerts – Dive into the deep web in niche communities (specialized networks of blogs like TumlbR etc.) • If you have some money, try professional tools like: – Trendy buzz – eCairn – Radian6 …but it’s another story
  31. 31. Step 2: Big Ideal your idea • Try to check which society needs could be filled thanks to your idea – SWOT analysis based on your step 1 – Brainstorming on what your ideal really is • Try to transform your Big Ideal into an ideal platform: – Key pillars • Which ideas could achieve your pillars (services, products, design, signature…)
  32. 32. Step 3: Structure your story (360°Digital Influence Model) PassivePassive listeninglistening (=(= getget thethe relevantrelevant informationinformation dependingdepending onon youryour fieldfield)) EngagementEngagement programmesprogrammes towardstowards keykey-- influencersinfluencers (= a(= a significantsignificant story instory in whichwhich youryour keykey opinionopinion leadersleaders cancan increaseincrease && improveimprove thethe reputationreputation ofof youryour ideaidea)) ActiveActive listeninglistening (=(= prepareprepare youryour organisation toorganisation to respondrespond toto conversations toconversations to transformtransform opportunitiesopportunities intointo value &value & threatsthreats intointo control)control) CampagneCampagne ExperienceExperience SocialSocial platformplatform (= a place in(= a place in whichwhich youyou cancan drivedrive youryour publics & hostpublics & host theirtheir conversations &conversations & ownown ideasideas)) CampagneCampagne ExperienceExperience CampagneCampagne ExperienceExperience CampagneCampagne ExperienceExperience WordWord--ofof--MouthMouth acceleratorsaccelerators
  33. 33. Perrier: oops, Dita did it again
  34. 34. Step 4: frequently measure & optimize through dashboards • Dashboards in order to track share of voice, positive coverage & potential opportunities • A way to keep an history of your reputation and to manage the next steps
  35. 35. It’s your turn • Next session: – A recommendation for one of the 2 following cases • Context analysis • Conviction • Strategic approach • Tactics • Metrics
  36. 36. # 1 Arteest • How to make Arteest the #1 fashion platform at a worldwide level?
  37. 37. # 2 Architurn • How to seduce a wider audience to make Architurn profitable?

×