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Social media and the consumer opportunity

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The evolution of social media, growth in mobile and GPS, and increasing confidence in online identity mean there are now great opportunities for consumers to challenge companies.
This presentation was first given at Social Media Week, London, 2010.

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Social media and the consumer opportunity

  1. 1. Social media and the consumer opportunity @crudden Paul McCrudden Local Social Summit @ Social Media Week: The Science of Social Media February 2010
  2. 2. The evolution of social media, growth in mobile and GPS, and individuals’ maturing confidence in their online identity are resulting in new opportunities for consumers to challenge brands. Brands need to start identifying how to respond effectively. Social media and the consumer opportunity
  3. 3. <ul><li>Brand experience agency </li></ul><ul><li>Digital-Physical experiences </li></ul><ul><li>Interactive installations </li></ul><ul><li>Online experiences </li></ul><ul><li>Social media campaigns </li></ul>Imagination
  4. 4. Eyesponge <ul><li>Aggregates our team’s social media content </li></ul><ul><li>eyesponge.com </li></ul>
  5. 5. <ul><li>We absorb content </li></ul><ul><li>We release content </li></ul><ul><li>We need to make sense of our social media ‘give and take’ </li></ul><ul><li>Real-time </li></ul><ul><li>Long-tail </li></ul>The social sponge
  6. 6. Content and identity <ul><li>Facebook: </li></ul><ul><li>55 million updates per day </li></ul><ul><li>We share 3.5 billion pieces of content every week </li></ul><ul><li>Over 2.5 billion photos uploaded each month </li></ul>“ Thanks to easy-to-use interfaces and fine-grained privacy controls, social networks have been transformed into vast public spaces where millions of people now feel comfortable using their real identities online.” The Economist, January 2010
  7. 7. <ul><li>Recorded all the time and money I spent as a consumer </li></ul><ul><li>Invoiced companies to pay me for the time I spent with them </li></ul>#sixweeks
  8. 8. #sixweeks
  9. 9. <ul><li>Used Twitter and blog to challenge companies </li></ul>#sixweeks
  10. 10. <ul><li>Pret A Manger’s most effective PR spend of 2009 </li></ul><ul><li>First time some brands involved in this space </li></ul>#sixweeks
  11. 11. Feltron Report 2009
  12. 12. <ul><li>275,000 users </li></ul><ul><li>65% increase per month, Jan 2010 (30% Jun 09) </li></ul><ul><li>Game scenario against other consumers </li></ul><ul><li>Rewards </li></ul>The power of your data
  13. 13. FourSquare office
  14. 14. Case study: Brand ambassadors <ul><li>Awareness-raising campaign to support product launch </li></ul><ul><li>Local & social in 3 German cities </li></ul><ul><li>Created multi-channel Love Ambassadors </li></ul><ul><li>551 Flickr photos, 4,774 YouTube views in two weeks </li></ul>
  15. 15. Case study: Local space <ul><li>Broadcast Twitter-style update to show environment; users can also send updates into social media spaces </li></ul><ul><li>439 total comments posted in social media sites, with an estimated total reach of 28,324 people </li></ul>
  16. 16. What friends are for
  17. 17. Never the same network
  18. 18. The new behaviour
  19. 19. How do you make your data work for you? Value in your data
  20. 20. How do you make your data work for you? Value in your data
  21. 21. Value in your data How do you make your data work for you ?
  22. 22. Blippy: Money talks
  23. 23. Find the value in your data “ To tell people - friends, acquaintances, maybe even strangers - a little bit more about you.” Philip Kaplan, Blippy co-founder on Blippy I reckon: You should tell companies more about you.
  24. 24. <ul><li>Re-Tweets are posted most at Friday 4pm </li></ul><ul><li>Personalised social media analytics currently lack meaning </li></ul>Some data’s out there
  25. 25. Aggregate <ul><li>Aggregate your own social media content and metrics: </li></ul><ul><li>Time </li></ul><ul><li>Location </li></ul><ul><li>Relationships </li></ul><ul><li>Key words </li></ul><ul><li>Unlock the value in your social media data & use it to challenge companies </li></ul><ul><li>No site currently aggregates your social media content effectively </li></ul><ul><li>Semantic web will help </li></ul>
  26. 26. <ul><li>@whoever this month has: </li></ul><ul><li>Checked in at Apostrophe 8 times </li></ul><ul><li>Bought a Superdry jacket </li></ul><ul><li>Mentioned me in 2 tweets </li></ul><ul><li>How can this relationship bring near-future tangible value to me? </li></ul>‘ Friends’ as commodities
  27. 27. <ul><li>Deeper marketing segmentation </li></ul><ul><li>Cross-industry partnerships </li></ul><ul><li>Understand ROI on word of mouth </li></ul><ul><li>Measure the quality of influence - am I more likely to go to Apostrophe? </li></ul>How should brands embrace this?
  28. 28. <ul><li>‘ Decision-making present’ </li></ul><ul><li>Compete for consumers’ near-future attention </li></ul><ul><li>“ I am doing this next” </li></ul><ul><li>Instant, automatic analysis of real-time consumer data </li></ul>Real-time and Future-time
  29. 29. <ul><li>Open, two-way real-time communication for your attention </li></ul><ul><li>Location, time and relationship specific </li></ul><ul><li>Multi-faceted rewards: price discounts, (un)branded content </li></ul><ul><li>Cross-sector partnerships </li></ul>Attention auction
  30. 30. <ul><li>Significant consumer opportunities exist in the near-future, through unlocking the power of social media content and the science within it </li></ul><ul><li>What is your Return on Investment? </li></ul><ul><li>What is your Return on Attention? </li></ul><ul><li>As we continue to evolve with brands in the social media space, this Return won’t just be financial </li></ul>Your ROA
  31. 31. Thank you @crudden Local Social Summit @ Social Media Week: The Science of Social Media February 2010 [email_address]

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