Social media makes cowboys of us all...or why social media is ignored at your peril

1. Social media makes cowboys of us all
…or why social media is ignored at your peril
Steve Virgin, Senior Media Consultant
Dow Jones
&
David Phillips, Media Guru & Friend
© Copyright 2008 Dow Jones and Company, Inc.

2. Headlines speak of Economic mayhem
As credit dries up companies
As credit dries up companies
collapse and jobs are lost in their
collapse and jobs are lost in their
tens of thousands
tens of thousands
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3. But…some smaller sectors are roaring forward
••Sales up 118% over the key
Sales up 118% over the key
Christmas period
Christmas period
••Profits on target for 2009
Profits on target for 2009
••Selling clothing online was said to
Selling clothing online was said to
be ‘impossible’
be ‘impossible’
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4. Brands with broader ‘all-family’ appeal are
bringing in more users than ever more
Source: Sydney Morning Herald
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5. Consumers are in control – and smart
companies know that
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6. If it is ‘convenient’ and they ‘trust it’ –
consumers will buy it
••Convenient ••Launches streaming to TV
Launches streaming to TV
Convenient
service in US in May 2008
service in US in May 2008
••DVDs posted to
DVDs posted to
your home ••9.4m subscribers – revenues
9.4m subscribers – revenues
your home
up 13% in 2008
up 13% in 2008
••Ordered online
Ordered online
© Copyright 2008 Dow Jones and Company, Inc. |

7. Our purchasing behaviour is now instinctively
interactive in most cases
73% compare prices on white goods
well over two thirds compare prices on mobile
phones, cars and televisions/DVD players
approximately 1 in 10 discussed their purchases with
others seeking advice
well over half across all product categories
researched online the product that they eventually
bought.
85% who were car buyers did their research online
75% who were PC purchasers did their research
online
Source: TNS
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8. We are all doing it – and we don’t even realise
•• We are all in the process of
We are all in the process of
taking the web and social
taking the web and social
media to our hearts and
media to our hearts and
reshaping it to meet our
reshaping it to meet our
needs
needs
•• You did all this before – the
You did all this before – the
only new thing is that you
only new thing is that you
are now doing it
are now doing it
automatically via the Internet
automatically via the Internet
Source: TNS
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9. Blog Pulse Stats – the potential audience is
incredible
We are also enjoying our ‘fifteen minutes of fame’ – our
We are also enjoying our ‘fifteen minutes of fame’ – our
opinions heard, our lost friends found, our rant against bad
opinions heard, our lost friends found, our rant against bad
customer ‘service’ – potentially heard by many
customer ‘service’ – potentially heard by many
• Total identified blogs: 102,548,697
• New blogs in last 24 hours: 64,366
• Blog posts indexed in last 24 hours: 766,127
© Copyright 2008 Dow Jones and Company, Inc. |

10. Behaviour is changing – the shoppers
A third of the UK population shop around online for deals.
Retail website visits were up in 2008:
HMV up 36%;
Royal Mail up 31%;
John Lewis up 28%;
Dixons Stores up 27%;
Arcadia Group up 25%;
Next up 25%;
Debenhams up 22%
© Copyright 2008 Dow Jones and Company, Inc. |

11. Online sales bucked the Q4 ’08 trends
Online and mail order sales - double-digit rise in
December 2008
Online Christmas sales were up 16.%
Tesco did even better and the Co-op's e-store better
still.
The top store is the online fashion store ASOS with
sales up 118%.
© Copyright 2008 Dow Jones and Company, Inc. |

12. Look at what we are doing in the UK
World online adult population 1 billion (1,000,000,000)
UK online population 41 million
Home 63%
Work 38%
Other 20%
UK - Grown up spend over an hour per day on average
For information 68%,
For communicating 51%,
For purchasing 50%,
For the family 50%,
Not so grown up 15-24 year olds
Entertainment 70%
In touch with friends 60%;
Communicating with others 54%
© Copyright 2008 Dow Jones and Company, Inc. |

13. Everyone is thinking and behaving ‘digitally’
More than one in ten adults read online newspaper, a
quarter of adults have watched TV online and one in
five listen to radio from their computers
Nearly 2 million listen to a podcast each week.
If you are under 24 you probably used the internet
more than you watched TV.
The top sites are Google, Microsoft, Yahoo,
Facebook, eBay, BBC,
15% of adults have a blog.
24% of consumers read blogs - up from 13% in 2006
Facebook has twice as many users as MySpace
One in five social media users flirt
© Copyright 2008 Dow Jones and Company, Inc. |

14. The whole world is doing exactly what we
are doing too
Source: TNS social media survey 2008
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15. YOUR customers are leading the revolution
Source: TNS social media survey 2008
© Copyright 2008 Dow Jones and Company, Inc. |

16. Best known ‘social media brands’ in US
••Social media and web is about targeting a
Social media and web is about targeting a
Top 10 generation for whom online buying is
generation11-20whom online 21-30 31-40
for buying is
automatic
automatic
• iPhone • Microsoft • ABC • General Motors
• CNN • The brands Ford now largely • Coke
• • McDonald's
• The brandsare now largely‘young’ or ‘hip’
are ‘young’ or ‘hip’
• Apple • Nintendo • LG • General Electric
and connect
• Disney and connect • Target • Best Buy • Wal-Mart
• Xbox • PlayStation • Honda • NFL
••But this will• change as our digital behaviour Mercedes
• Starbucks But this will Mac change as our digital behaviour
• eBay •
• iPod increases • inthe next 10 years
increasesin the next 10 years
Turner Sharp • BMW
• MTV • Hewlett-Packard • Lincoln • Samsung
• Sony ••So now you need to know: • NBA
• Fox News • Nike
So now you need to know:
• Dell • BlackBerry Pepsi • Subway
••What are they saying about you online?
What are they saying about you online?
••How does my ‘presence’ online help my
How does my ‘presence’ online help my
brand?
brand?
Source: Advertising Age: 29/01/09
© Copyright 2008 Dow Jones and Company, Inc. |

17. Your clients are now GLOBAL…you should be
joining them
If you don’t know where they are or what they are saying,
If you don’t know where they are or what they are saying,
you are powerless to stop brand value being destroyed
you are powerless to stop brand value being destroyed
© Copyright 2008 Dow Jones and Company, Inc. |

18. •• iReport.com (a site where users
iReport.com (a site where users
submit stories) posts a phoney news
submit stories) posts a phoney news
report that is picked up and run by
report that is picked up and run by
mainstream news media
mainstream news media
•• Apple stock goes into a steep dive
Apple stock goes into a steep dive
(9%) before rebounding (down 3%)
(9%) before rebounding (down 3%)
A rogue story from a Social
A rogue story from a Social
Media site (in this case a
Media site (in this case a
news gathering site) wiped
news gathering site) wiped
millions of dollars off
millions of dollars off
Apple’s share price with a
Apple’s share price with a
false rumour
false rumour
© Copyright 2008 Dow Jones and Company, Inc. |

19. A search engine mistakenly places a 2002 bankruptcy story in
A search engine mistakenly places a 2002 bankruptcy story in
a broker’s morning stock report UAL share price collapses
a broker’s morning stock report UAL share price collapses
from $12.50 to $3 on the news
from $12.50 to $3 on the news
© Copyright 2008 Dow Jones and Company, Inc. |

20. News travels at lightning speed through
News travels at lightning speed through
social media applications
social media applications
Bill Gates releases mosquitoes into the audience
Bill Gates releases mosquitoes into the audience
at the Technology Entertainment Design awards
at the Technology Entertainment Design awards
show last week – within seconds the story is on
show last week – within seconds the story is on
Twitter and spreads fast to conventional media
Twitter and spreads fast to conventional media
Source: BBC News
© Copyright 2008 Dow Jones and Company, Inc. |

21. Some celebrities ‘get it’ too
••A leading UK actor gets stuck in a lift and 5,000
A leading UK actor gets stuck in a lift and 5,000
follow his every move with rescuers arriving 14
follow his every move with rescuers arriving 14
hours later
hours later
••Celebrities are ‘hip’
Celebrities are ‘hip’
••Brand endorsement pays off for marketeers
Brand endorsement pays off for marketeers
••Now they are endorsing social media applications –
Now they are endorsing social media applications –
like twitter in this case
like twitter in this case
••What next? and Who is next?
What next? and Who is next?
Source: Hello Magazine
© Copyright 2008 Dow Jones and Company, Inc. |

22. This is only a
tiny fraction of
what is going
on each day
Sites most of you already know and use each day
© Copyright 2008 Dow Jones and Company, Inc. |

23. As a marketing guru…This is YOUR new task
© Copyright 2008 Dow Jones and Company, Inc. |

24. These are the social media communities
These are the social media communities
you NEED to lasso if you are to thrive
you NEED to lasso if you are to thrive
© Copyright 2008 Dow Jones and Company, Inc. |

25. Every social media site is a potential ‘corral’ of
interest in your company and your corporate
reputation
Your new job is ‘to feed the horses’ in each
Your new job is ‘to feed the horses’ in each
corral of social media-driven community
corral of social media-driven community
interest
interest
© Copyright 2008 Dow Jones and Company, Inc. |

26. If you don’t…something small can swell up and turn into
If you don’t…something small can swell up and turn into
something really nasty
something really nasty
© Copyright 2008 Dow Jones and Company, Inc. |

27. The new internet ‘gold rush’?
Become a top class ‘cowboy’ – and the social media mine
Become a top class ‘cowboy’ – and the social media mine
will OPEN UP to your company
will OPEN UP to your company
© Copyright 2008 Dow Jones and Company, Inc. |

28. But remember – when - the giants ‘see’ the
money we’d better sit up and take notice too
© Copyright 2008 Dow Jones and Company, Inc. |

29. Something big may be starting to happen…
Known for books, DVD’s
Known for books, DVD’s
etc -- it is targeting a
etc it is targeting a
generation for whom online
generation for whom online
buying is automatic
buying is automatic
© Copyright 2008 Dow Jones and Company, Inc. |

30. Time for a commercial break…
Who we are & what we can
Who we are & what we can
do for you?
do for you?
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31. Who we are
Consumer Media Group Enterprise Media Group Local Media Group
© Copyright 2008 Dow Jones and Company, Inc. |

32. Dow Jones helps international companies to
maintain and develop a competitive advantage
Professional solutions for the financial markets, government,
corporates and media
More than 7,700 employees
Global/local player with editorial, sales and support staff in 89
cities
More than 125 years of editorial excellence
© Copyright 2008 Dow Jones and Company, Inc. |

33. Our value proposition
Expertise
Content
Media Consultants
Most complete content
provide decision-ready
set for communications
reporting and context to
analysis
analysis
Technology Global Partner
Decades of information Global content,
processing experience expertise and offices
and over $20M in allows us to partner
investment globally
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© Copyright 2008 Dow Jones and Company, Inc.

34. Global Content
40m
14,000 22,000 4,500
Social Media Blogs
Traditional Press Influential Web TV/Radio
Opinion and
World’s most
International 80 countries
commentary from
influential Web
newspapers
blogs and
sites 5 continents
messages boards
Business news
Editorially picked
that create “buzz”
Trade press Coded by source 3rd Party
on the internet
groups
Newswires Bespoke software Content
to remove
Press release
inactive and spam
services
blogs Add other
250,000 articles sources
500,000 messages
per day
per day External or
23 languages internal
© Copyright 2008 Dow Jones and Company, Inc. |

35. How we do it
Blogs &
Message
User Interface / Visualisation
Boards
Text Mining Platform
Unstructured
Information Mining
data
Web,
NGOs,
interest
groups
Semi-structured Users
data
Mainstream
Media
• 30,000,000+ articles
•• 14,000 news titles • 30,000,000+ articles
14,000 news titles
• 150,000+ articles per day
• 22,000 websites • 150,000+ articles per day
• 22,000 websites
• 500,000 blog postings
• 40,000,000+ blogs and boards • 500,000 blog postings
• 40,000,000+ blogs and boards
• 23 languages
• 4,500 broadcast transcripts • 23 languages
• 4,500 broadcast transcripts
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• Editorially selected
• Content on Demand • Editorially selected
• Content on Demand | 35
© Copyright 2008 Dow Jones and Company, Inc.

36. Robust search strings on a global online platform
© Copyright 2008 Dow Jones and Company, Inc. |

37. Strategic media evaluation – what could it do for you
Identify Reputation Drivers – these are vehicles through which communication
departments can draw more on internal positives and start to shape press
coverage in the media in a way that reflects your’s own internal goals
Proof of budget – we help you show your budget has been well spent
Communicating internally in the same language: i.e., using a consistent
measurement tool that allows comparison and performance measurement
Spot opportunity, spot strengths and weaknesses and take appropriate action
© Copyright 2008 Dow Jones and Company, Inc. |

38. What this mean for you
Offers you financial economies of scale – our systems include
monitoring and provide strategic analysis and offer action points
Our content is fully licensed global – sourced from the widest source set
available to any supplier – it includes: hard copy, web copy, blogs,
board, forum and all social media content
It is possible to ‘track the world’s press’ through a single, shared
common online platform
© Copyright 2008 Dow Jones and Company, Inc. |

39. What we offer you
Uniqueness – news is our job, we think globally and act locally
Empathy – it is our task to help you make the strongest impact
Data to minimize risk – we strategically interpret, we don’t just count
Data to enable you to act – we point to options on what can be done
next
Independent analysis – we will tell it to you straight for good or for bad
Relevance to your business needs – we will link our analysis to your’s
key performance indicators
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© Copyright 2008 Dow Jones and Company, Inc.

40. We will help you measure your media reputation
Help you to assess how the press see the value and quality of your work
Track your key KPI’s and see how they are shown in the media
Help you to manage risk
See how your effort to maximize operational efficiencies is being
portrayed
Assess how strongly your management team is rated by the media
© Copyright 2008 Dow Jones and Company, Inc. |

41. Our keys to your global success
1. Measure consistently across languages and cultures
2. Determine what success looks like from region to region
3. Use the right tools with the genuine global content
4. Coverage is not limited to the clips you can afford
5. Third party content is added free of charge
6. DIY production to share with colleagues or show ‘proof of effort’
7. Turn output into positive outcomes
© Copyright 2008 Dow Jones and Company, Inc. |

42. In your design of an
In your design of an
internet/social media
internet/social media
strategy there are four
strategy there are four
routes to take:
routes to take:
Propaganda, Information,
Propaganda, Information,
One-way asymmetrical or
One-way asymmetrical or
Two-way
Two-way
© Copyright 2008 Dow Jones and Company, Inc. |

43. Please pick the right one – our world class experts are
ready and waiting to help you measure it
Mail me for any follow up on:
Mail me for any follow up on:
Steve.virgin@dowjones.com
Steve.virgin@dowjones.com
© Copyright 2008 Dow Jones and Company, Inc. |