Anne Mc Crossan - Managing Brands and Brand Culture in Social Media
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Understanding the implications of Social Media on your Brand Culture and Business Design. Also, basic guidelines are provided on how to develop intangible asset value of your brand while using Social Media. Anne McCrossan – Founder & CEO, Visceral Business More: http://somesso.com/blog/2009/10/anne-mccrossan-where-is-the-margin-in-social-media/
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Anne Mc Crossan - Managing Brands and Brand Culture in Social Media
- 1. Beans and Pearls Social business design for finance Social business design and management What it means for brands and corporate cultures
- 2. ‘ I believe we will survive and thrive in the new creative age only if we enlarge both our understanding and our delivery of creativity’ Sir Martin Sorrell, D&AD President’s Lecture Nov 1996
- 3. Creativity as a means of broadcast
- 4. ‘ I believe we will survive and thrive in the new creative age only if we enlarge both our understanding and our delivery of creativity’ But the message isn’t getting through
- 5. The social environment re-defines how to transact and behave to create value
- 6. Permission, trust and loyalty as a means of involvement
- 7. How much do you trust businesses in each of the following industries to do what is right? Source: Edelman Trust Report - US companies
- 8. In the UK, France and Germany, trust in banks, media companies, energy and automotive has declined steeply Source: Edelman Trust Report - European companies
- 9. Financial services companies have come off badly in terms of the perceived match between the promise they put out and the consumer experience. Source: Promise Index 2009
- 10. % of Top 100 banks in Forbes Global 2000 2009 that are acknowledged as having a presence in social media .
- 11. Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009 5%
- 12. 5% Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009
- 13. % of Top 100 diversified financial services companies in Forbes Global 2000 2009 acknowledged as having a presence in social media .
- 14. How many of the top 100 diversified financial services companies in Forbes Global 2000 2009 are acknowledged as having a presence in social media? . Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009 9%
- 15. How many of the top 100 diversified financial services companies in Forbes Global 2000 2009 are acknowledged as having a presence in social media? . 9% Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009
- 16. % of the 92 insurance companies within Forbes Global 2000 2009 acknowledged as having a presence in social media .
- 17. 6% Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009
- 18. 6% Source: Forbes 2000 2009/Altimeter Group/Visible Banking/Visceral Business/October 23rd t 2009
- 19. It starts with the identity of the brand as a central organizing thread
- 20. Branding is a contact sport…the further apart you are from your audience, the less likely you are able to connect and have an impact with them.
- 21. Social business supports formative experiences
- 22. Iterative, adaptive fits integrated into business design
- 23. And marketing based on intention and involvement Attention Traditional media Intention Then Now Broadcast Involvement
- 25. Protectionism in finance is strong
- 26. Opportunity to leverage intangible assets like culture
- 27. The economics of automated transaction changes things
- 31. task people ask tell Source: Keirsey Temperament Sorter
- 32. A brand is what people say about you when you’ve left the room, social media is about being a part of that conversation and there is good news…
- 34. 80% tacit communication Source: Karen Stephenson Netform
- 35. 80% tacit communication hubs gatekeepers pulsetakers Source: Karen Stephenson Netform
- 36. 80% learning strategy advice innovation social decision making tacit communication Source: Karen Stephenson Netform
- 37. Beans and Pearls 2.0 Increasing employee satisfaction Decreasing travel costs Increasing customer satisfaction Increasing speed of access to internal experts Increasing effectiveness of marketing Reducing communication costs Increasing speed of access to knowledge 35% 40% 43% 43% 52% 54% 68% 20% 40% 60% 80% 100% Business returns being seen from Web 2.0 Benefits acknowledged by survey respondents (%) Source: McKinsey September 2009 Close to seven out of ten respondents (69%) report that their companies “have gained measurable business benefits, including more innovative products and services, more effective marketing, better access to knowledge, lower cost of doing business, and higher revenues”.
- 38. tangible assets intangible assets industrial organizations commercial organizations social organizations utilities causes A commercial evolution Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 39. tangible assets intangible assets industrial organizations commercial organizations social organizations utilities causes A commercial evolution who you are and what you do products and services skills and approach culture and personality mission and cause 1 2 3 4 5 Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 40. industrial organizations commercial organizations social organizations who you are and what you do products and services skills and approach culture and personality mission and cause utilities causes mining retail mining tangible assets intangible assets Positioning the brand 1 2 3 4 5 housing energy charities pharma trade guilds councils and public services transport auto travel and leisure food and beverages membership organizations financial services consumer electronics fmcg media and cultural institutions technology government Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 41. tangible assets intangible assets industrial organizations commercial organizations social organizations who you are and what you do products and services skills and approach culture and personality mission and cause utilities causes mining retail mining Positioning the brand 1 2 3 4 5 housing energy charities pharma trade guilds councils and public services transport auto travel and leisure food and beverages membership organizations financial services consumer electronics fmcg media and cultural institutions technology government Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 42. Yochai Benkler Berkman Professor of Entrepreneurial Legal Studies at Harvard & Faculty co-director of the Berkman Center for Internet and Society ‘ The personal computer changed the basic model of capitalization of information, knowledge, and cultural production. Computation, communications, storage, sensing, and capture devices are now widely distributed. These, in turn, enable the effective deployment of the other core input into the global information economy - human creativity, wisdom, insight, and perspective.’ ‘ Capital, Power, and the Next Step in Decentralization’ Essay, Sept 16 th 2009
- 45. Source: Visible Banking www.visiblebanking.com
- 46. tangible assets intangible assets industrial organizations commercial organizations social organizations who you are and what you do products and services skills and approach culture and personality mission and cause utilities causes Positioning the brand mining retail mining 1 2 3 4 5 housing energy charities pharma trade guilds councils and public services transport auto travel and leisure food and beverages membership organizations financial services consumer electronics fmcg media and cultural institutions technology government Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 47. affinity is stronger than structure Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 48. So the question is: How can you connect with ‘the people formerly known as the audience’? Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 50. The web makes trading more granular and accountable The Evolution of Social Software in IBM. Small Blue Research Study. http://smallblueresearch.ibm.com
- 51. The value of each person in your address book is $948 When friends of your friends are not friends of each other or belong to the same social group = 276.64% increase in monthly revenues One strong link to your manager is worth $588.2/m One weak link to your manager costs $98.48/m Having managers in a project is correlated with team performance initially Too many managers in a project is negatively associated with team performance Strong ties to executives is positively correlated Attributes of your network human capital, power and status have a unique relationship with work performance. A place where personal worth and corporate worth combine The Evolution of Social Software in IBM. Small Blue Research Study. http://smallblueresearch.ibm.com
- 52. ‘ all value is perceived value, and persuasion is more effective than compliance’ Rory Sutherland, Chairman IPA, TED Oxford June 2009 Back to behavioural economics
- 53. ‘ you can’t fake community, you can’t force it, either’ Chris Brogan
- 54. Involvement pwns broadcast ‘ People will forget what you said, they’ll forget what you did, but they’ll never forget how you made them feel and what you inspired them to do.’
- 55. credible and compelling
- 56. credible and compelling credible compelling
- 57. Your business must be aware of, and leveraging, its DNA
- 58. And realize cultural value as part of social business design
- 60. A business model to describe the way you intend to make money by creating and delivering value collectively. Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 61. Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 62. Business model co-creation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 63. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 64. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 65. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 66. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 67. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 68. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 69. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 70. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 71. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 72. Business model innovation Alex Osterwalder – Business Model Generation http://www.businessmodelgeneration.com
- 73. frequency of use number of channels low high low high Source: Altimeter Group
- 74. emotional commitment intellectual understanding low high low high
- 75. 3 core KPI’s Visceral Business - Anne McCrossan - www.visceralbusiness.com
- 77. And also an insurance policy and safety net
- 78. Collaboration creates new dimensions of value across an organization Your organization has a unique DNA and culture worth cultivating Connect with the business case strategically, go beyond tools and channels There is no internal and external in the social organization Social leadership skills and management capabilities are core to success Establish pools of interest around your business capable of generating attention, contribution and wanting to connect.
- 79. Copyright © 2009 Visceral Business
- 80. Photos and credits Slide 1 : Coffee beans by Incasa Coffee http://bit.ly/1NvtHh Slide 1 : Pearl farming 02 by nataliebehring.com http://bit.ly/4vOuvM Slide 19: Rope-pulling by vavara lozenko http://bit.ly/4Au1SF Slide 21: Arm wrestle 2 by deejaynye http://bit.ly/2SvFd Slide 22: We’ll walk hand in hand some day! by Werner Schnell (1.stream) http://bit.ly/3TIMJ6 Slide 24: Image Visceral Business Slide 25: Bank Vault – 003 by Jason Bethchel http://bit.ly/29iDYW Slide 26: Where is going the stock market ????? by pfala http://bit.ly/4zUR86 Slide 27: Image source not known Slide 31: Smile by jiggskykeken http://bit.ly/2cvjqJ Slide 31: Work in Progress by Katherine Treffinger http://bit.ly/FfT0u Slide 31: Post Office by Suzy Pym http://bit.ly/FW8nD Slide 31: Driving light by Crankydragon http://bit.ly/19jNBC Slide 32: Image not attributed taken from Seth Godin’s Tribes presentation Slide 33: Saving by Ken Wilcox http://bit.ly/1YJkmb Slide 43: Managing the Brand by Tom Fishburne http://bit.ly/t2RjE Slide 49: Reputation Statement of Account by Jason Tester 2004 Slide 50: Contribution text via @Sparkbouy and IBM Slide 50: P1050180.JPGby l.million http://bit.ly/2FBEOa Slide 56: New spectacles by Steve Green http://bit.ly/LvyNa Slide 56: Time to play by qcomplex5 http://bit.ly/e0qsD Slide 56: 4 by 3littleboyz http://bit.ly/2R5asI Slide 56: My Name is Not Clark Kent! Carlos Norbero http://bit.ly/JFlIl Slide 58: Slide 26: Where is going the stock market ????? by pfala http://bit.ly/4zUR86 Slides 61 – 72 taken from Business Model Generation by Alex Osterwalder Slide 73: I ate 6 by Farl http://bit.ly/4sMMZQ Slide 73: Butterflies in my head by Kees Straver http://bit.ly/ooIpN Slide 73: Wallfower by Cognitive Ambition http://bit.ly/YcOjV Slide 73: Rainbow Coloured 319 by CrashCalloway http://bit.ly/2sTaGJ Slide 74: Passively bystanding by Lo Li http://bit.ly/odsab Slide 74: The weakest link by Darwin Bell http://bit.ly/FAPcN Slide 74: Target Day 2 by Mikey Sachs http://bit.ly/O09Os Slide 76: Image source not known Slide 77: Web 2 by Aldo Trim http://bit.ly/2aNQ0b
Editor's Notes
- It’s called beans and pearls to raise the question about what we count in social business design, but it really should be called beans and pearls 2.0 because
- In 1996 Sir Martin Sorrell, that that master accountant of the marketing communications industry, and my former employer, gave a speech as the D&AD President’s Lecture, essentially explaining himself and why, as an accountant, he was buying into the creativity business, and he said then, that the knowledge economy was over and that the creative age had begun. He wrote ‘ I believe we will survive and thrive in the new creative age only if we enlarge both our understanding and our delivery of creativity’. Well, things have changed in the age of beans and pearls 2.0.
- That created the underpinnings of broadcast media and marketing communications as they are known. In essence it has been driven as an industry, by the idea that broadcasting messages will generate revenue. That creative pearls generate more beans. Well, things have changed in the age of beans and pearls 2.0.
- Now the broadcast isn’t working so well
- But with social media is still means more creative pearls lead to more beans, but not through broadcast. Social media redefines transactional and behavioural models.
- But with social media is still means more creative pearls lead to more beans, but not through broadcast. Social media redefines transactional and behavioural models.
- And the bad news is, people don’t trust broadcast messages so much anymore, as this Edelman Trust Report shows. In the US, every sector around is suffering from lack of trust issues as far as brand owners and their audiences – whether internal or external – are concerned. And banks are particularly suffering from these issues, they’re suffering the most, fuelled by the daily negative press about bonuses and debt and depression and how hard it is to get credit.
- In Europe too. Those sectors that are perceived to be out of step with environmental concerns and with concerns around the social contract, where consumers feel hard done by the kind of transactions they’re experiencing and the messages they’re being told, are all down in terms of receptivity to the message, and banks of suffering the worst.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- It means that from a brand marketing point of view if you want to get to beans and pearls 2.0 financial services industries have a job to do to cultivate trust and loyalty – and loyalty as we know is the most cost effective form of marketing in the world.
- And as Chris Brogan has said this power has to be something that is nurtured, not controlled. And the IPA has said as one of its social principles recently, companies need to be authentic, not persuasive.
- And as Chris Brogan has said this power has to be something that is nurtured, not controlled. And the IPA has said as one of its social principles recently, companies need to be authentic, not persuasive.
- And as Chris Brogan has said this power has to be something that is nurtured, not controlled. And the IPA has said as one of its social principles recently, companies need to be authentic, not persuasive.
- And as Chris Brogan has said this power has to be something that is nurtured, not controlled. And the IPA has said as one of its social principles recently, companies need to be authentic, not persuasive.
- A brand is what people say about you when you’ve left the room, and that social media is about being part of that conversation And there is good news
- A brand is what people say about you when you’ve left the room, and that social media is about being part of that conversation And there is good news
- A brand is what people say about you when you’ve left the room, and that social media is about being part of that conversation And there is good news
- There is a requirement to become more expressive as part of effective behaviour. Seth Godin: ‘Communication is the transfer of emotion’
- A brand is what people say about you when you’ve left the room, and that social media is about being part of that conversation And there is good news
- A brand is what people say about you when you’ve left the room, and that social media is about being part of that conversation And there is good news
- The other aspect of a new world of involvement is this - there’s a general consensus amongst some of the key trust network experts like Valdis Krebs, Karen Stephenson and Robin Tiegland, that 80% of all organization information is tacit information, i.e. that is to say is not officially recorded or used, and the same is true for what stakeholders outside the organization communicate about it as much as it’s true for stakeholders internally.
- The custodians of this information are hubs, pulsetakers and gatekeepers( to use Karen Stephenson’s terms).
- And it covers a number of facets of any type of organization, across things like learning, innovation, decision-making, strategy, the giving of advice and the social dimension.
- And there’s an economic argument for all of this Yochai Benkler is Berkman Professor of Entrepreneurial Legal Studies at Harvard and Faculty co-director of the Berkman Center for Internet and Society. http://publius.cc/capital_power_and_next_step_decentralization/091609
- There is an affinity in terms of how people connect that is starting to become stronger than structure. This matters in a world which is starting to value intangible assets more and more.
- Whether it’s internal or external, the people formerly known as your audience are changing. There’s a pathway towards involvement that’s the same wherever they are as a means of creating swifter, more efficient and effective communications and operations.
- And as Chris Brogan has said this power has to be something that is nurtured, not controlled. And the IPA has said as one of its social principles recently, companies need to be authentic, not persuasive.
- At their core, they have to be credible and compelling.
- ast media
- Using Altimeter Groups criteria for digital engagement, though individuals that become mavens stand to benefit from the drive to become social
- And those organizations that can gather people around them with a high degree of intellectual understanding and emotional engagement, will win