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THIS SESSION
i. THE BIG SHIFT ii. But what’s social media? iii. THE BUSINESS CASE iv. In the real world v. Q/A & MYTHBUSTER: CONCERNS & STUMBLING BLOCKS
STEFFEN THEJLL-MOLLER Tweets @steffenmoller
Blogs at steffenmoller.com
i. THE BIG SHIFT
Communication is Moving in Real Time
The Real-Time News Cycle
WSJ Print
Day One
15+ MIL.
10+ MIL.
5 MIL.
1 MIL.
INFL
UEN
CE
TIME
5:30 PM 12:00 AM 5:30 PM
Day Two
The Real-Time News Cycle
WSJ Print
Day One
15+ MIL.
10+ MIL.
5 MIL.
1 MIL.
INFL
UEN
CE
TIME
5:30 PM 12:00 AM 5:30 PM
Day Two
CNET.com NYTimes.com CNN.com AP.com
Communication is Moving in All Directions
People Don’t Trust You
Only of people trust advertisements
14% of people trust the recommendations of their peers
78%
{One-Way} {Conversation}
Very high/ High %
Nurses 84 Druggists, pharmacists 73 Veterinarians 71 Medical doctors 69 Dentists 62 Engineers 61 Clergy 58 College teachers 58 Policemen 54 Psychiatrists 38 Bankers 37 Chiropractors 36 Journalists 26 State governors 22 Business executives 18 Lawyers 18 Stockbrokers 17 Senators 15 Congressmen 14 Insurance salesmen 13 HMO managers 12 Advertising practitioners 11 Car salesmen 7
rate the honesty and ethical standards of people in these fields
operate in society’s best interest
o Armed forces +43% o NGOs +27% o Education system +26% o Health system +17% o Trade unions/labor +2% o Legal system -2% o Global companies -9% o Large national companies -10% Accenture The Business of Trust, World Economic Forum “Voice of the People Forum” * Net Rating = % trust - % distrust
Digital shifts where people spend their time
Closed Newspapers: 2007-2010
15
Digital shifts How people spend their time
We are Changing Faster than Our Institutions
The time spent / ad spend gap
Source: eMarketer, Forrester Research; ZenithOptimedia; Marketspace Analysis
Ad Spend Media Time
20%
40%
60%
80%
100%
Television
Radio
Magazines
Online
Newspapers
Other
Television
Radio
Magazines
Online
Newspapers
i. But what is
Social Media?
Definition
Social media are media for social interaction, using highly accessible and scalable web-based publishing techniques.
23
Conversation enablers
Social Networks
Content sharing
Open platforms
Social Media Framework
> Facebook > LinkedIn > Ning
> YouTube > Flickr > SlideShare
> Wikipedia > Message
Boards > Forums
> Blogs > Microblogging
(Twitter)
Media designed to spur conversation
Media that facilitates social interaction
Media that enables users to share content
Media that is created and driven by its members
POV on Social Media
> These aren’t corporate communications, marketing, advertising, PR or customer service channels, but it involves all of these.
> The rules of social media are being written everyday: brands that experiment, innovate and engage will see the most success.
iii. The business case
Being present in social media is no longer a luxury for most companies, it’s a business-impacting necessity The conversation is happening now: with or without you Being there allows you to meet growing customer expectations
Meeting audience expectations
“I never expected them to be listening.”
“What do you expect, except business as usual.”
“I’ve posted here five times, and no one from the company is responding ….”
Be Present Listen Act
Three basic
business uses for starters
1) Gathering market intelligence
2) Promote your company and build reputation
3) Improve customer service
A step
further
Engagement Innovation
Operating Efficiency
Workforce Enablement
VALUE CREATION
External
Internal
Engagement Innovation
Operating Efficiency
Workforce Enablement
VALUE CREATION
External
Internal
Increase Sales
Improve Loyalty Enhance Reputation
Create customer advocates
Customer-led Innovation Social Commerce
Social Commerce
Improve Company Processes Reduce Product Cycle Time
Recruit top talent
New Business Development
Create a culture of ambassadorship Improve knowledge sharing
2025
2020: Social Media vs. Social Business
>Social media are the channels and communities where audiences congregate
and turn for information vs.
>Social business is the process and management system used to
operationalise social media within and beyond an organization
Social Business elements
Governance
Policies & Guidelines
Team Structure
Process Charts
Content
Channel Strategy
Content Planning
Content Formats
Engagement
Code of Conduct
Tools and Techniques
Managing Relationships
Measurement
Listening Program
Influence Assessment
Analysis and Reporting
iv. In the real world
> [WARREN’ CASE STUDY]
41
v. Mythbuster: concerns and
stumbling blocks
It’s not relevant in B2B
>77% of 1,200+ U.S. and European B2B companies are at it
>43% are creating media and 58% are critics (reacting)
We’re a traditional company
We don’t have the resources
We can’t measure ROI
Exposure Engagement Influence Action
Non-Financial Impact Possible Financial Impact/ROI
> Number of Hits > Number of Impressions > Message Pick-up > Branded Mentions > Comment Sentiment > Share of Positive Online
Discussion > Search Rank > Twitter Reach
> Article Readership > Article Recall > Comments/Post Ratio > Number of RTs > RTs per 1000 Followers > Repeat Visitors > Follower Mention % > Subscriptions
> Tell a Friend > Likelihood to
Recommend > Purchase Consideration > Ratings/Reviews > Change in Attitudes,
Opinions
> Visit the Store > Visit the Website > Buy the Product > Redeem Coupon > Make a Donation > Repeat Purchases > Attend an Event > Vote for/against
