This document discusses how brands can reinvent themselves in today's customer-controlled marketplace by becoming "wikibrands" that focus on customer participation, social influence, and digital engagement. It outlines 10 factors for success as a wikibrand, including culture change, focus, language/content/outreach, incentives/motivations, and metrics/measurement. The document promotes the book "Wikibrands" and offers contact information for the authors to discuss becoming a wikibrand.

1. Wikibrands - Reinventing Your Company in a Customer-Controlled Marketplace -February 2011Social Media Week@wikibrandsSean Moffitt @seanmoffitt

2. Some justified thank yous…

3. Some justified thank yous…

4. Authored by Sean Moffitt and Mike DoverPublished by McGraw-Hill (Dec, 2010) LinkTwitter:@wikibrandsFacebookgroupWikibrands

5. Who is Sean Moffitt….Just A Blonde Guy With a Cause

6. Who is Mike Dover….Just a Violent Man Going for the Big Chalice

7. Everything I learned about Buzz, Customer Engagement and Word of Mouth I learned through the bottom of a pint…SOCIAL

8. 8Are You Ready To Become Buzzing, WikibrandEvangelists?

9. Hashtags#wikibrands#smwto#MMChat…let’s trend tonight

10. Forget social media……we need social business

11. Social media is a dirty word and small …Global media industry $600 billion industryDigital Media $90 billion industry Social Media $14 billion industryGlobal internet industry $ 1 trillion annuallyannually It cheapens the value of how it can benefit your business

12. The real Wikibrands challenge…Global education industry $ 2 trillion annuallyGlobal IT and Communications $ 2.6 trillion annuallyGlobal health care industry $ 4 trillion annuallyGlobal energy industry $ 6 trillion annuallyGlobal banking industry $ 7 trillion annually How do we reinvent some of these industries?

13. Business and Brands still Matter….…but…

14. A Demanding and Activist Customer Culture has Taken Over

15. A premium brand is now a mark of participation“Something you Trust”“Something you Want”“Something you Buy”“Something you Participate In”“Something you Prefer”“Something you Love”15

16. You can either be a monopoly (lucky), commodity (tough) or a wikibrandThe big question – how do you do it? Easy for them.Not so easy for the 82% of us who work in/withfirms with 20+ employees…

17. Our Challenge?

18. We searched far and wide to come up with a fresh argument for social businessWikibrands -The new currency for today’s marketplace: Customer participation

19. Social influence

20. Digital engagement

21. Word of mouth

22. Online community

23. Grassroots marketing

24. Connected media

25. Member collaborationEqualssuccess in business

26. Our Particular Mission

27. Our Humble ContributionPublished by McGraw-Hill (Jan 2011 Launch) Twitter: @wikibrandsFacebookpage: WikibrandsWebsite: www.Wiki-Brands.com¼ Wake up Call¼ Strategy Guide¼ Executional Road Map¼ Continuing Reference

28. The Early Buzz is GoodRichard Florida, Best Selling Author,“A must read for business leaders”Don Tapscott, Digital pioneer and author, Wikinomics“This is an important, perhaps seminal book”Mathew Ingram, Globe & Mail and GigaOm“Wikibrands is required reading for anyone who wants to thrive in the new landscape”

29. The Challenge Today – 30-40 MinutesWe will try:- 7 Reasons Why Mill Street, Mill Street

30. 10 Key Things to Do It Right

31. The Wikibrand Debates

32. The SoapboxWhy Now?

33. Reason #1 – Authentic Relationship Desired#1 The Need for Authenticity and Transparency - 42%#2 The rise of social networks - 38%#3 Increasing role of wireless/mobile - 35%#4 Customers/people waning attention spans - 25%#5 Media fragmentation - 22%#6 Change in mass marketing effectiveness - 20%Agent Wildfire -The Buzz Report, April 2010

34. Reason #2 – The World is Connected and Engaged1.3 Billion Social Networkers GloballyFacebook - 600 million, 130 friends each, 1,000+ fans per pageWikipedia – 265 million readers. 17 million articlesTwitter – 170 million, 190 followers each (after 2 yrs)LinkedIn – 101 million, 61 friends each, 189 index on post-grad YouTube - 18 million Canadians watch/292 minutes per monthFlickr – 40 million members/5.0 billion photosFoursquare – 6 million/381 million checkinsAmazon – 650 million users annually, $24 billion sales GroupOn – 35 million users annually, $500 milion salesQuora – 600,000 registered users- Spending 82% more time on social networks than they did last year

35. Reason #3 – Conversations are ElsewhereShifting Conversations – just four years ago, 80% of online engagement happened on the originating website, now 80% happens away from the originating website.Now, to be noticed and talked about, you need to reach “out there” to be relevant.Source: Hubspot , 2007-2010 study

36. Reason #4 - It has to…what’s left…Operational efficiencies are maxedDownsizing/rightsizing reaching limitsOutsourcing labour is tappedGlobalization of markets is doneMedia clutter is hereTechnology is ubiquitousThe Customer Experience is What’s Left

37. Reason #4 – Plus it’s what your CEO cares about (or should care about)C-Suite Interest – The CEO's #2 and #3 priorities are customer service and experience; Advertising and promotion rank #12 and #14.Source: Microsoft Roundtable Study

38. Reason #5 - Social, Participation, Engagement, Collaboration, Influence, Community = Smart Business

39. “Social” is not media, tools or technology, this is about success in business:Engaged brands drive value +18%Non-engaged brands decrease in value -6%Source: Interbrand 2009 Best Global Brand s report

40. Reason #6 – Our Customers are Currently Better at It…78% don't have an employee policy for use of social media, more than ½ don’t have a strategy71% of marketers are less/only equally familiar with the use of social media tools than their customers.82% of executives believe their agencies need to radically transform themselves to adapt more competitively to this wikibrand world.Source: Commotion Study/Buzz Report

41. Reason #7 - Six Big Wikibrand BenefitsBrand Advocacy (Marketing)Word of mouth

42. Referral/recommendation

43. Badging

44. Sales/traffic

45. Reduction in media budgetsBrand Perception (PR)Awareness/exposure/SEO

46. Affinity

47. Empathy/respect

48. Lead industry conversationSix Big Wikibrand BenefitsBrand Support (Customer service) Customer service

49. Education/ advice

50. Value-add experience

51. Lead industry conversationBrand Serendipity (HR/Corporate) Stories/Inspiration

52. Corporate social responsibility

53. Galvanize employees

54. Traditional media interestSix Big Wikibrand BenefitsBrand Content (Media/Customer Experience) Co-innovation/solutions

55. User-generated Creative

56. User-generated content

57. Reviews/ratingsBrand Insight (Research and Innovation) Idea stimulus

58. Beta-testing

59. Market research/polling

60. Industry/competitive intelligenceThe Recipe for Success?..10 Factors

61. The Biggest Social Media Sins- Listening, Content and Focus

62. #1 Culture Change Required

63. Core Belief #1 - There is a big difference between “Being Social”

64. Versus “Doing Social”

65. A Culture Change is RequiredMASS MARKETINGDIRECT MARKETINGSOCIAL INFLUENCE MARKETING

66. Hurdles?

67. Implementation Issue – Lip Service > ActionThe biggest obstacles that continue to exist in implementing wikibrands in your company/clients?1. Inability to measure 40%2. Lack of budgets 31% 3. No accepted standards/benchmarks 29%4. Fear of loss of control 29%5. Inability for culture to accept 25%6. Technical skills/expertise not in place 23%7. Do not understand diff. bet. Mass marketing 21%Source: Agent Wildfire Buzz Report 2010

68. #2 FOCUS– “Why are we doing this/what are we doing?”

69. Nike + -Members/Customers Values/Lifestyle/Desires

70. #3 LANGUAGE, CONTENT & OUTREACH“do I like this/is there enough of this/can I identify with this/do they know me?”

71. 4. INCENTIVES & MOTIVATIONS“what’s in it for me?”

72. 5. RULES, GUIDELINES & RITUALS“what can/can’t I do here?”

73. 6. TOOLS & PLATFORM“how and where does it work?”

74. 7. COMMUNITY MANAGEMENT“who will lead the conversation?”

75. How to Avoid This…

76. 8. LIFE STAGE OF THE COMMUNITY“when do we need to adapt?”

77. 9. METRICS, MEASUREMENT, INSIGHTS & ROI“what do we measure and look for?”

78. 10. CULTURE & ORGANIZATIONAL CHANGE“how will we be changed?”

79. Do Brands even Belong in my Social Spaces!

80. Don’t be fooled, people want social brands…they just don’t want pushy marketers- 85% of people want companies engaging with their customers in social media- 56% of people feel a stronger connection with those companies they interact with in social media- Twitterers are three times more likely to embrace brands than average population

81. The Future?

82. Types of New Media Future Growth

83. Some Advice - Act different, be different, think differentTop 8 Differentiation Drivers Unique Dynamic Different Distinctive Innovative Visionary Daring ProgressiveSource: Y&R Brand Asset valuator

84. Never Forget – Humans are Hard Wired Social Animals59

85. Mill Street Brewery – February 7th LaunchPublished by McGraw-Hill (Jan, 2011)Twitter:@wikibrandsFacebookpage and 6 other social extensionsBecome an ambassadorContact us:smoffitt@agentwildfire.com

86. Let’s Start The Conversation…Inquire: smoffitt (at) agentwildfire.comnadia (at) agentwildfire.comPhone: 416-255-4500URL: www.AgentWildfire.comJoin: www.TheInfluencers.caBlogs: http://BuzzCanuck.typepad.com/ www.spreadslikewildfire.com Explore: The Buzz Report (e-newsletter) Signup at www.AgentWildfire.com Learn: Executive WOM Seminars