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TheTrendwatch #07
The document provides an overview of trends in social media and consumer behavior from 2008. It discusses the growth of Facebook users over the previous year and shares stats on messaging and social networking usage. The summary also notes insights around how recommendations from friends influence travel decisions more than reviews. Trust in peers over advertising is also mentioned.
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TheTrendwatch #07
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- 4. What is asocial network? Mark Zuckerberg Q&A Facebook founder and CEO Source: SxSW 2008 conference, Austin TX 4
- 5. Would you haveimagined the impact of Facebook? June 2007 June 2008 % growth 52,167 132,105 FACEBOOK 143% 35,698 North America 49,248 38% 8,751 Europe 35,263 303% 3,712 Asia Pacific 20,712 458% 2,974 Middle East - Africa 14,951 403% 1,033 Latin America 11,931 1055% Source: Facebook Growth - Age +15, ComScore World Metrix, June 2008 5
- 6. Echo System The impactof collective intelligence on consumption and branding The Trend Watch #7 6
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- 11. 76% say thatrecommendations from friends and colleagues are important or very important when booking a hotel online. 41% said the same about traveler-written reviews. The bottom line: While both types of content are important, personal network recommendations more strongly influence hotel booking than reviews from strangers. Source: Forrester research for Sheraton 11
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- 13. Instant Messaging, TXTand Video Chat New cross-messaging functionalities on popular social networking sites could potentially reach a total of 23.6 million US users and 54.8 million users worldwide The number of TXT every day exceeds the number of people living on earth (more than 6 billion) Source: comScore stats for ‘the eight sites’, June 2008 13
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- 15. Social Technoghraphics Ladder 18% Creators blog, publish web pages, upload videos and photos, write articles 25% Critics post ratings/reviews, comment on someone else’s blog, contribute to forums/wiki 12% Collectors use RSS feeds, add tags to online content, vote for sites online 25% Joiners maintain profile on a social network and spend time interacting 48% Spectators read blogs, watch videos, listen podcasts, read online UGC, and peer reviews 44% Inactives none of the above Base: US online adults Source: Forrester Q2 2007 Social Technographics Survey 15
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- 18. Introducing VRM Vendor RelationshipManagement provides customers with tools for engaging with vendors in ways that work for both parties. Source: Doc Searls – Project VRM at Harvard University 18
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- 26. Dealing with yourdetractors Source: Forester ‘Online Community Best Practices’, Feb 2008 26
- 27. Credible sources ofinformation about a brand/company Persons like themselves 60% Financial analyst 56% Academic 54% Doctor / Specialist 53% Non-Profit Organisation 50% Employee of company 43% CEO of company 23% Blogger 12% Source: 2008 Edelman Trust Barometer, January 2008 27
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- 29. Social Markets “Networked marketare beginning to self organize faster than the companies that have traditionally served them. Thanks to the web, markets are becoming better informed, smarter, and more demanding of qualities missing from most business organizations.” Source: ‘The Cluetrain Manifesto’ - Rick Levine, Christopher Locke, Doc Searls, David Weinberger 29
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- 37. Trust peers vs.advertising when making a major purchase decision Trust peers 30% Trust advertising 10% Source: Jupiter Research, March 2007 37
- 38. Groundswell A social trendin which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations. Source: Charlene Li and Josh Bernoff ‘Groundswell’, March 2008 38
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- 44. Day #3 Black Fridayshopping sales 44
- 45. The Real Storyof RSS Aware RSS Unaware users RSS 4% users 27% Do not use RSS 69% Source: Ipsos ‘RSS whitepaper’ October 2005 45
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- 56. Worldwide Online SocialNetwork Advertising Spending, 2006-2011 ($ millions and % change) 2006 480 2007 (155%) 1225 2008 (65%) 2015 2009 (32%) 2665 2010 (22%) 3245 2011 (17%) 3795 Source: eMarketer, May 2008 56
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- 58. Why people (18+)contribute to Social Networks and User Generated Content Feel part of community 31% Recognition from peers 28% Participate with brands I like 9% Make money 6% Recognition from colleagues 4% Other (Share with family, fun) 22% Source: IBM Institute for Business Value ‘US Consumer Research: Digital Entertainment & Media’ August 2007 58
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- 61. "In a dramaticacceleration of the seven-year sales decline that has battered the music industry, compact-disc sales for the first three months of this year plunged 20% from a year earlier, the latest sign of the seismic shift in the way consumers acquire music." Source: Ethan Smith, "Sales of Music, Long in Decline, Plunge Sharply" The Wall Street Journal Online, March 21, 2007 61
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- 64. Media Used byUS Internet Users to find information about 2008 Presidential Candidates and Issues May 2007 March 2008 62% TV 76% 42% Internet 55% 42% Newspaper 47% Word-of- 23% 33% mouth 25% Radio 29% News 21% 21% Magazines Too early, not 23% 12% looking yet Source: iCrossing ‘How America Searches: Election 08 Update’ conducted by Opinion Research Corporation, April 2008 64
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- 66. ‘We can’ vs.‘I will’ Democrats have slightly above-average participation in all social technologies; Republicans are below average. Source: Forrester ‘North American Social Technologies Online Survey’, Q2 2007 66
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- 75. Community needs first! Theconsumer relationship best practices that create WOM Source: SxSW Zappos conference, 2008 75
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- 81. The iPhone's AppStore has sold 60 million applications or two million downloads a day, after one month. Altogether this netted about $30 million in revenue. Source: Steve Jobs interview - Wall street Journal - August 11, 2008 81
- 82. Day #5 Gifts, postcardsand souvenirs 82
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- 85. Dell, Microsoft, SouthwestAirlines, The Coca-Cola Company… 85
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- 92. The Echo Systemgolden rule Regardless of your own goals, always put the network’s needs first. Stay tuned: TheTrendWatch.com 92
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