Uploaded byEric Weaver
Social Business: the Opportunity for India (Engage Kolkata edition)
The document discusses the evolving landscape of social business and the critical role of emotional engagement in marketing strategies. It emphasizes that most purchasing decisions are driven by emotions rather than rational thought, and highlights the importance of integrating social engagement across entire organizations for better customer interaction and loyalty. The final takeaway is that investing in engagement activities leads to higher conversion rates and better business outcomes.
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Social Business: the Opportunity for India (Engage Kolkata edition)
- 1. paem baub iCN e o r d lrg P Social Business: the Opportunity for India ERIC WEAVER • ANT’S EYE VIEW • @WEAVE
- 2. Ant’s Eye View:a social management consultancy B2B B2C paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 2
- 3. Let’s get started. paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 3
- 4. All around theworld, people have fallen for social media. Connecting and keeping up with friends Expressing ourselves creatively (and getting feedback) Meeting people with shared paem baub iCN e o r d lrg P connections we’d never normally meet Talking in shared interest groups Stalking old boy/girlfriends Getting an “aww”/+1/Like for photos of our pet. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 4
- 5. But … canyou feel it? We’ve built sites for every media imaginable. We’ve created communities for everything. We’ve joined communities for paem baub iCN e o r d lrg P everything. We’ve tweeted about everything. We’ve poked everyone. We’ve tried to incent “viral” chatter about our products. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 5
- 6. At a recentconference in Canada, I mentioned that I thought social media in its nascent, over-hyped form was dead. And one attendee responded with: “IF SOCIAL MEDIA IS DEAD, IT’S BECAUSE paem baub iCN e o r d lrg P MARKETERS LIKE YOU KILLED IT.”
- 7. paem baub iCN e o r d lrg P And, enraged, he left the conference and immediately smashed out several windows at a nearby bank. And that’s the thing about social: it’s fun. It feels life-changing. It gives us power. And a voice. And that makes us emotional about this stuff.
- 8. paem baub iCN e o r d lrg P You see, humans are funny creatures. We feel very superior in our sentience, our self-awareness, our ability to reason and process and be rational. And we generally feel we are very reasonable, rational people. http://www.flickr.com/ photos/jurvetson!
- 9. But the realityis that we’re not. In 2002, Daniel Kahneman was awarded a Nobel Prize for his work on emotional versus rational decision making. He found that typically, we truly believe that we think something, then do something, then feel something about it. But in reality we start by feeling, then we do, then we post-rationalize. For example, you might be hurt you didn’t get a job offer and then rationalize, Well, I didn't really want that job anyway. THINK > DO > FEEL paem baub iCN e o r d lrg P FEEL > DO > THINK
- 10. 95% 95% of our decisions are made through emotional thinking, and only about 5% through rational. We *think* we’re making rational decisions but most of the decisions we make are based on the emotional brain. EMO! paem baub iCN e o r d lrg P http://www.flickr.com/ photos/myklroventine/!
- 11. The reason forthat, basically, we're primates. Crazy monkey people. We're wired to process emotions VERY quickly, using parallel processing. That's why we can feel both happy and sad, we can laugh while we’re crying. paem baub iCN e o r d lrg P http://www.flickr.com/ photos/richardfisher/!
- 12. I might feelboth happy and bittersweet at my daughter’s high paem baub iCN e o r d lrg P school graduation.
- 13. Or both excitedand nervous when paem baub iCN e o r d lrg P speaking in front of an audience.
- 14. But rational processingis MUCH more difficult. We can only single-thread rational processing. If this is true, then x. If that's false, then y. It takes much more energy, more focus and more time to rationally process decisions. And in our time-starved world, it’s harder to convince people to take the time to rationally think through a decision. paem baub iCN e o r d lrg P
- 15. IN A NUTSHELL We’reemotion-oriented, time-starved paem baub iCN e o r d lrg P creatures, built for social interaction. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 15
- 16. We already knowthat emotional ads are more effective paem baub iCN e o r d lrg P Binet and Field, 2007 – IPA Datamine ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 16
- 17. !"#$%&'#()*&+,,-&.(&/%00%"1&2%304&5&$$$6"1%7%8%9"$#6,#:& INTERNET PIONEER STOWEBOYD Does being social help us perform better? paem baub iCN e o r d lrg P Do emotions from social sites inspire purchase? ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 17
- 18. Lock Haven University:connected studies mean higher grades Students with a Twitter journal collaborated more , resulting in an average + .5 grade point increase paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 18
- 19. University of California:“touch” makes us perform better paem baub iCN e o r d lrg P A study by Michael Kraus at the University of California San Francisco analyzed how much pro basketball players touched each other. They found that the teams that touched each other (hugs, chest bumps or high- fives) outperformed teams that touched less. The more physical contact team members made, more often, resulted in the tendency to do better and get more out of the game. +,,-&;<,=96,#:>?1#"#@>:AB%9<,CDDE& His thinking was that oxytocins are generated by touch. They make us focus, relax, and feel more positive. http://www.livescience.com/11091-touchy-feely-nba-teams-win.html ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 19
- 20. Oxytocin: the “TrustHormone” is tied to Desire Oxytocin, the “trust hormone”, plays a role in “approach-related” emotions: those involved in “wanting something.” paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 20
- 21. “Social touch” –does it make us more likely to purchase? paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 21
- 22. Let’s talk SocialBusiness. paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 22
- 23. Our goals asmarketers have not changed. Ever. We need to get attention and build awareness. We need to convert the curious. We need to increase revenue. Or get our loyal buyers to share. We’re wondering: what’s beyond fan pages, Klout scores and Pinterest boards? paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 23
- 24. And many marketersface considerable hurdles these days No one has the time. Everyone is distracted. Trust is harder to come by. Expectations can often be ridiculous. paem baub iCN e o r d lrg P One blogger can outshout our budget. So much noise about social! ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 24
- 25. paem baub iCN e o r d lrg P THE JOURNEY FOR SOME 1." Convince mgmt to try 2." Push promos via social 3." Buy fans via ads Professional social media types try to get you on a 4." Tabs and apps! journey that looks like this. But this journey has a dead end. What comes next? No one can say. 5." Justify the labor cost 6." …?
- 26. paem baub iCN e o r d lrg P THE JOURNEY FOR SOME 1." Convince mgmt to try 2." Push via social 3." Buy fans via ads 4." Tabs and apps! on buying fans, And if you focus and there’s a built-in 40% waste 5." Justify the labor cost think rate, how long do you you’ll keep your job? Likes are 6." …? NOT a metric of success.
- 27. The bigger opportunity: alignthe entire organization around paem baub iCN e o r d lrg P integrated social engagement. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 27
- 28. Your customers don’tcare about — nor have the time to deal with — your departments or silos I heard about The YouTube vid These podcasts help you from shows me how to me understand new Glassdoor. operate the software. product offerings. HR & TRAINING IT AND INFRASTRUCTURE paem baub iCN e o r d lrg P SALES, SHIPPING & SUPPLY CHAIN OPERATIONS MARKETING, CUST CARE DISTRIBUTN PR 85% would prefer you Please build a Is this @CustCare, I bought locally sourced store in our Groupon deal need help with ingredients. community. still valid? my bill. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 28
- 29. The Social EngagementJourney TM Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Traditional Experimental Operational Measurable Fully engaged paem baub iCN e o r d lrg P Traditional Dabbling in social Social more Engagement Social command and engagement embedded in driving real engagement and control business occurs but is business business results, customer operations use disconnected to operations. with systems and experience is part one-way business Internal training, tools fully of the communication operations. channel optimized to organization’s to drive business Fractured tools, alignment and support confident DNA. outcomes. siloed efforts and campaign and competent Breakthrough disparate integration begin employees and to business results— measures reign. to deliver tangible more fully harness increased revenue results. online and loyalty are relationships. realized. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 29
- 30. Final destination: fullengagement BUSINESS OUTCOMES ORGANIZATIONAL CUSTOMER EVIDENCE Products are brought to IMPACTS market more quickly “I trust you” Entire employee base has Differentiate beyond $$ “I recommend you” a 360° view of the Engaged users spend more customer and can “I’m valued and heard” time on site anticipate needs “That was my idea” Influencers drive revenue via trust Brand dashboard tied to paem baub iCN e o r d lrg P “You’ve anticipated my revenue Activation creates choice needs” at retail Senior execs leading with “You didn’t talk AT me” Get & retain best talent customer engagement More efficient research, “You’ve improved my life” Increased awareness, development, marketing & ops revenue, loyalty, advocacy “I defend you” Built-in demand reduces financial risk ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 30
- 31. MORE EVIDENCE INFAVOUR OF ENGAGEMENT Consumers conserve their precious time paem baub iCN e o r d lrg P for oxytocin-rich environments. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 31
- 32. Do consumers preferengagement? Or their friends & family? Unique Visitors per Month – as of May 2011 CF*DDD*DDD& CD*DDD*DDD& GF*DDD*DDD& paem baub iCN e o r d lrg P GD*DDD*DDD& F*DDD*DDD& D& !"#$%&'()*'+,- .#'/%++(*'+,0)"#$%&'()- 1+'#'+2#*'+,- .#'/%++(*'+,0'+'#'+2#- ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 32
- 33. AND DON’T FORGET: Engagementboosts search rankings paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 33
- 34. paem baub iCN e o r d lrg P Forgive the indulgence. This is my wife. I posted this photo of her on Flickr in 2005. I titled it “Hottest Woman Ever.” A few years later, I started noticing massive views. And the referring site was Google, search string was “hottest woman ever.” EH&
- 35. paem baub iCN e o r d lrg P Sure enough, Google was saying she was the “hottest woman ever.” Why? Flickr is a huge social community with lots of dialogue and engagement. Google LOVES engagement – hence her Flickr pic now hovers between #1 and #6 in an image search.
- 36. That said –you don’t have to be “everywhere.” Choose your social venues wisely, based on their strengths. You don’t have to be everywhere. SOCIAL SOCIAL SEARCH SOCIAL ENGAGEMENT SOCIAL COMMERCE VENUE- Incent Amplify Convert Optimize Spread Amplify Build Influence Create user- Socialize Offers & influencers advocates generated differen- fence- SEO content reach trust visits promos content tiators sitters paem baub iCN e o r d lrg P ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 36
- 37. Rethink your approach:from campaigns to “Always On” Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 Traditional marketing paem baub iCN e o r d lrg P Social-driven marketing Cyclical campaigns and press announcements yield Value-add products/services, supported by transactional relationships. campaigns and consistent social interaction, yield sustained relationships, helping to inspire loyalty and advocacy. Key Key Interest Interest Platform / service Campaign size Campaign size Social media base Traditional campaigns provide momentary spikes of awareness and conversion. Yet these are transactional. By engaging, you build a loyal customer base and reduce cost to acquire. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 37
- 38. So when determiningwhere and how to engage Make sure that what you’re talking about has emotional relevance. Create those oxytocins. They are MONEY. Empowered consumers don’t want nor trust “marketing” – but they do want engagement with brands they care about. Using social channels to spam your market with monologue is ultimately self-destructive. True dialogue builds trust and transactions. paem baub iCN e o r d lrg P Integrate your social activities into your traditional advertising. This allows for the maximization of your ad spend and builds a steadily growing fan base. Make sure all customer-facing departments are working together. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 38
- 39. And let sociallistening data guide your efforts SHARE OF MENTIONS BY CHANNEL, 30 DAYS CAPTURE ON TWITTER! !AND WHILE GUESTS paem baub iCN e o r d lrg P DRIVE TO ARE TALKING ABOUT THE 3453367- .8169::;- FACEBOOK BRAND, FF*FII&+IHJ-& CD*EFI&+CEJ-& CONTESTS, CONVERT THEM USER VIDEOS & THROUGH “BRAND LOVE” SHARE-WORTHY HAPPENS HERE PROMOS – AND DRIVE THEM TO FB TO SHARE THE LOVE Listening can help you understand where to best engage; where to best amplify loyalty/advocacy. In this example, we are recommending engaging on Twitter and then driving to FB for loyalty and brand dialogue. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 39
- 40. Five messages forMarketing Management 1)" There is a path beyond social ad buys and fan acquisition • it is the Fully Engaged Enterprise. 2)" Consumers prefer to interact with brands in the context of friends and family. “Social touch” means happier, more conversion-friendly communities. 3)" Search loves sites with high levels of engagement—so focus on paem baub iCN e o r d lrg P engaging with visitors so that your site is more likely to BE FOUND. 4)" Organizations MUST rethink their approach to their markets, by aligning the entire organization around social feedback. Market alignment brings competitive advantage and spend efficiency. 5)" …and… ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 40
- 41. FINAL MESSAGE FORMANAGEMENT: Conversion is higher when you invest in paem baub iCN e o r d lrg P engagement activities. ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 41
- 42. !"#$% &#'($)! paem baub iCN e o r d lrg P http://slideshare.net/weave Twitter: @weave For more thinking on the Social Engagement Journey, go to antseyeview.com.
- 43. This is myfinal presentation as an employee of superstar social business firm Ant’s Eye View. Thank you to AEV and my colleagues for 18 months of learning and fun. Watch for new thinking on social business and innovation in paem baub iCN e o r d lrg P my new role as SVP of Social Strategy for MediaBrands’ Spring Creek division, effective July 2012. @springcreekgrp • facebook.com/springcreekgroup springcreekgroup.com ©2012 Proprietary + Confidential | antseyeview.com | Austin + Seattle + Mountain View 43