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Social Trends - June 2010

Presentation to an audience of senior marketers at a Fortune 50 company. Trends are based on concepts outlined in Social Media Marketing for Dummies and recent events in the digital space

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Social Trends - June 2010

  1. Social Influence Marketing Trends June 25th, 2010 @shivsingh
  2. Key Facts about Razorfish Full-service digital agency One of the largest interactive marketing & technology companies Leader in web design and digital marketing according to Forrester $60 billion of media managed across the Publicis Groupe network @shivsingh
  3. The Family David Kenny @shivsingh
  4. Marketing has gotten more difficult than it ever was @shivsingh
  5. 2008 Vizu Answers, 2009 Yankelovich, 2009 Edelman Trust Barometer, 2009 Edelman Trust Barometer, TGI, HT Spike Jones, Page 5 © 2009 Razorfish. All rights Brains On Fire. reserved.
  6. But I believe that digital can make a big difference @shivsingh
  7. 1. Has an experience you have had online ever changed your opinion (either positively or negatively) about a brand or the products and services it offers? 65.3% 34.7% Yes No See for more information on the research @shivsingh
  8. 2. Has that experience influenced whether or not you purchased a product or service from the brand? 97.1% 2.9% Yes No See for more research @shivsingh
  9. Bottom Line: Digital Experiences Create Customers Digital is not simply an “awareness” or CRM play, it’s a customer-creation and customer service play. @shivsingh
  10. 5 Ideas to consider @shivsingh
  11. IDEA 1 Let customers do the work for you @shivsingh
  12. IDEA 1 “ The purpose of a business is to create a customer ” – Peter Drucker @shivsingh
  13. IDEA 1 “ The purpose of a business is to create a customer who creates customers ” @shivsingh
  14. IDEA 1 Leaving your only job to be taking care of your existing customers Trust me, that’ll be harder not easier… @shivsingh
  15. IDEA 1 1 billion total media impressions to date; 44M blogs, 70M tweets, 300K new Facebook fans. All by not advertising on the Super Bowl and launching a year round social media cause marketing effort. @shivsingh
  16. IDEA 1 What are the implications of this? • Your customers expect a lot more • Taking risks is not a choice • You need to be better corporate citizens • Providing incentives for participation key @shivsingh
  17. IDEA 2 Harness influencer dynamics. Everyone else is doing so @shivsingh
  18. Why does influence matter online? 72% of internet users say they are exposed to too much advertising @shivsingh
  19. IDEA 2 We haven’t known how to reach these people And these have typically been ignored These continue to get the most attention See Social Media Marketing for Dummies if you want more information on the different influencer types. You need to account for all these types @shivsingh
  20. IDEA 2 Not only can you now identify and track your customers but you can also market to their strong and weak ties. Ads served to the ties produce better results than @shivsingh marketing to anonymous strangers
  21. IDEA 3 Comparative SIM Score for Toyota in months as the recall crisis broke. Influencers came to the defense of Toyota pushing up its SIM Score. Google “Mashable and Toyota” for more information. (SIM Score = Relative Brand Sentiment * Conversation Volume) @shivsingh
  22. IDEA 2 What are the implications of this? • You’ve got new marketing tactics to leverage • You can optimize your media spend even further • Your social influencers can bring in more consumers • You have a new metric for evaluating brand health @shivsingh
  23. IDEA 3 Make your brands even more human @shivsingh
  24. IDEA 3 Brand Voices SIM Voices • Singular company voice • Multiple, authentic individual voices • Reflects the brand personality • Transparent and googleable • Everybody follows the brand voice • Engaging and conversational • Appears in all brand touch points • Appears where conversations are • Usually unique to the company • Unique to the person not the company • Sometimes manifested in a person • Manifested in a real person • Used everywhere –signage to ads • Used only by real people @shivsingh
  25. IDEA 3 Brand Voice Social Voice Social Brand Best Buy was recognized at Cannes for this effort just this week. More brands will need to become social brands in a similar fashion. Is @shivsingh your brand becoming a social brand?
  26. IDEA 3 Barbie doll sales jumped when Barbie was given a social voice. Only marketing during @shivsingh that period was PR, Events and Social Media
  27. IDEA 3 1.0 Corporate Strategy & Research & Marketing & Human Operations Communicatio Planning Development Sales Resources ns Customers 2.0 Corporate Strategy & Research & Marketing & Human Operations Communicatio Planning Development Sales Resources ns Customers The question to ask yourself is whether your @shivsingh organization is moving in this direction or not
  28. IDEA 3 What are the implications of this? • People connect with people more than brands • You need to practice permission marketing • Your brands need to be manifested in real people • Your social voices represent your brands best @shivsingh
  29. IDEA 4 Create new businesses out of hidden assets @shivsingh
  30. IDEA 4 Over the next decade, two out of every three companies will face the challenge of their corporate lives: redefining their core business. Buffeted by global competition and facing an uncertain future, more and more executives will realize that they must make fundamental changes in their core even as they continue delivering the goods and services that keep them in business today @shivsingh
  31. IDEA 4 Citibank leveraged a hidden asset in terms of its credit card transaction data to create a whole new business that provides a unique service to people. They spun it off as a new company @shivsingh
  32. IDEA 4 What are the implications of this? • Your business is going to radically change • You’ve gotten hidden assets to be leveraged • Your employee base will matter even more • Your customers can help you navigate this world @shivsingh
  33. IDEA 5 Take your digital experiences on the road with location aware capabilities @shivsingh
  34. Functionality IDEA 5 Mobility Courtesy Forrester Research @shivsingh
  35. IDEA 5 The more mobile something gets doesn’t mean the less Functionality functionality it has anymore. That’s what’s changed about mobile and why there’s so much buzz about it Mobility Courtesy Forrester Research @shivsingh
  36. IDEA 5 FourSquare Check-ins are great but keep in mind that there’s more to this phenomena. The next time I walk into a hotel, I’d like to check-in via my iPhone without having to go up to the reception. I should be SMS’d my room number & door unlock code. @shivsingh
  37. IDEA 5 There will be all kinds of new advertising when augmented reality goes mainstream and at first as with every other medium it’ll be clumsy and stupid mistakes will be made @shivsingh
  38. IDEA 5 What are the implications of this? • Mobility becomes core to digital experiences • Social media goes mobile in a fundamental way • Real time activity will drive brand perception • Every device will become a mobile device • Unique location aware functionality will explode @shivsingh
  39. 5 Ideas to consider 1. Letting customers do the work 2. Harness influencer dynamics 3. Make your brands more human 4. Create new businesses from hidden assets 5. Take digital on the road @shivsingh
  40. Thank You! Shiv Singh