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What The Crap is Next for Social Media?

What's next after SoLoMo? What are the bigger trends taking over Social Media in the next five or ten years? Check out these six macro trends: Consolidation of Social Networks, Social Tool Aggregation, Crowdsourcing, Sharing Economy, Big Data and The Quantified Self.

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@EricTTung #SMTULSAerict.co/SMTULSA
What The Crap
Is Next for
Social Media?
Six Mega-Trends To Expect in
Social, And How To Prepare.
@EricTTung #SMTULSAerict.co/SMTULSA
Hi, I’m @EricTTung
Download this
presentation at
erict.co/SMTULSA
@EricTTung #SMTULSAerict.co/SMTULSA
Featured on Slideshare.net
@EricTTung #SMTULSAerict.co/SMTULSA
What I‟m Gonna Tell Ya.
• Where Social Media‟s Been
• The Future of Social Media
• 1. Social Network Consolidation
• 2. Social Tool Aggregation
• 3. Crowdsourcing
• 4. Sharing Economy
• 5. Big Data
• 6. Quantified Self
@EricTTung #SMTULSAerict.co/SMTULSA
Where Social Media‟s
Been
@EricTTung #SMTULSAerict.co/SMTULSA
Generated
in sales from Twitter as
early as 2009
$6.5 million
@EricTTung #SMTULSAerict.co/SMTULSA

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What The Crap is Next for Social Media?

Editor's Notes

  1. In 2008-2009, Dell, had been able to track just over $6.5 million in sales from promotions run exclusively via the tweet. The $6.5 million is the product of 100 employees tweeting in 35 different channels reaching customers in over 12 countries; Brazil Twitter users have spent over $800,000 in the last eight months. For a company this large and with so much effort behind it, the number sounds less impressive but still… Anyone out there taken advantage of a Twitter deal from Dell?
  2. Frank Eliason might be the most famous customer service manager in the world. He started @ComcastCares, to much media attention. Comcast even goes out of its’ way to find tweets from disgruntled comcast customers (
  3. The Fiesta Movement, Ford‘s recently six-month social media experiment put a new Fiesta car in the hands of 100 “agents” (members of the public) to drive and review using Twitter, Flickr, YouTube, and blogs. Fiesta Movement was a huge success. The 700 videos produced by the agents have generated 6.5 million views on YouTube, and there have been more than 3.4 million impressions of Fiesta Movement on Twitter. Even photos taken by the agents have been viewed more than 670,000 times. When it comes to word-of-mouth marketing, those are serious numbers. As Scott Monty, Ford’s head of social media said while creating buzz from Fiesta Movement was certainly important (more than 50,000 U.S. consumers who interacted with the movement said they wanted more information about the vehicle, and 97 percent of those do not own Ford vehicles), equally important was the customer feedback on design and engineering issues that the Fiesta agents have delivered. This was particularly important given that Ford was introducing this version of the Fiesta—a European car—into the U.S. market for the first time.
  4. Within hours, the American Red Cross made it incredibly easy to donate $10 via text by texting HAITI to 90999. Within days, millions had been raised.
  5. How does Social Media work?Before Social Media, one person’s restaurant experience might be conveyed to their neighbors, parents, and co-workers.There are only so many people that one person would be in contact with to even be able to chat about a particular business or experience.
  6. After social media, each person’s network will see that individual’s comments, suggestions, and possible endorsements of a company.
  7. What does this mean? Companies no longer have control of the bulk of what is said about them. Across social networks, rating sites like Yelp and Citysearch, people are creating messaging that is outside the traditional realms of marketing – TV, Radio, Newspapers, Billboards. More importantly, these personal contacts are much more influential than traditional forms of Social Media, so each and every one of you can affect someone, and help to positively influence the Spark Energy message. Today, you are part of the message, and you are part of the conversation!
  8. My Starbucks Idea – Starbucks’ own version of a social network where customers are asked to share their ideas on anything related to Starbucks. The site gives users the ability to see what others are suggesting, vote on ideas and check out the results. This site is a brilliant and important aspect of Starbucks social media strategy. Users who are part of this network feel that they have some role in the decision making process of the company and it makes them feel a part of it.
  9. What does this mean? People are trusting other people to do the same things that used to be offered by companies. As companies you need to see how you can reformulate your offering to align with people’s expectations today.
  10. Regulated Monopoly – why do you care about improving customer satisfaction/sentiment? What do complaints cost? What does it cost to avoid the complaints? Aggregated still costs company – goodwill, etc. Youtube – Social Media ROI Calculation, Salesforce.com
  11. If you hold true the notion that being responsive to online customer questions, complaints and feedback is an essential core tenet of good social media marketing, then you should consider your response time a valuable success metric. Being fast (and first) to respond to the online conversation, particularly when it turns bad, is a critical component of online customer service and an engaged social business.The fast food industry certainly appreciates response time. The word “fast” is in the description of their market segment. Those computer monitors that hang from the ceilings behind counters at McDonald’s, Chick-Fil-A and the like primarily display the orders yet to be filled, but secondarily also flash how long it has been since the order was placed to keep the staff focused on their basic unique selling proposition: fast.I took a few minutes to plug several restaurants into Expion, an enterprise social media management solution focused on franchise and multiple location businesses. They are a client of mine and their back-end analytics offer a pretty amazing ability to pull information about your competitor’s activity on Facebook and Twitter and allow you to compare, analyze, etc.Looking across a landscape of fast food offerings including McDonald’s, Wendy’s, Chick-Fil-A, Burger King, Tim Horton’s, Hardee’s, Arby’s, Subway, Quizno’s, Panera Bread and A&W, we find some interesting correlations. For the time frame of Jan. 1 through Jan. 17 of this year, Wendy’s, Pizza Hut and Chick-Fil-A all had average first-time responses under 1:30. All three have over 1,100 fan posts on their wall. No other restaurants were close in fan post volume. One could correlate that the more responsive a brand is, the more engaged their fans are.Wendy’s has an astonishing 20-minute response time to over 6,000 posts (17.6 percent of the 37K posts in the first two weeks of January). Of course, the restaurant’s FryForAll promotion and application accounts for the lion’s share of their posts, but still. Some 225 entries on Wendy’s Facebook page have been deemed negative by Expion’s keyword filters and the restaurant is there to offer a response.Pizza Hut is victimized by Facebook Wall spammers quite a bit and doesn’t seem to do a very good job of moderating or controlling the issue. They responded to nine percent of all fan posts in about 1:15. Their response to the negative posts, however, was just 24 minutes, so nice steppin’ up.Chick-Fil-A has an impressive 37.2% response rate for all wall posts — highest among those I looked at. They also responded to 56 percent of those deemed negative (behind Quizno’s, Subway and Arby’s). But only Quizno’s matched their 55 minue response time. It took Arby’s almost 11 hours.
  12. Guest ID number, tied to their credit card, name, or email address that becomes a bucket that stores a history of everything they’ve bought and any demographic information Target has collected from them or bought from other sources. Using that, Pole looked at historical buying data for all the ladies who had signed up for Target baby registries in the past.- Large Quantities of unscented Lotion
  13. Guest ID number, tied to their credit card, name, or email address that becomes a bucket that stores a history of everything they’ve bought and any demographic information Target has collected from them or bought from other sources. Using that, Pole looked at historical buying data for all the ladies who had signed up for Target baby registries in the past.- Large Quantities of unscented Lotion