dave evans bizbuzz keynote
TRANSCRIPT
Social MediaAnd why it matters.
@evansdave #bizbuzz
Three Questions
•Why does Social Media matter?
•How does Social Media fit?
•Can you show me some money?
•Also:
• @evansdave
• #bizbuzz
Why “Social Media?”
Less of a Television Channel Bringing Friends and
Colleagues Closer A Sea of Shared Knowledge
Misunderstandings Cause Many of the World's Woes Coming to Better Understandings We Leave for Those Who
Follow A Friendly Environment For Them to Adopt or Correct Working on Knowledge Together Our Reasoning and Assumptions
Made of Things We Have Seen or Figured Out Having Worked Them Out We Can Work Them Out in Cyberspace
0:50
@evansdave #bizbuzz
marketer-generated
(Think “funnel”)
be aware
consider
buy
consumer-generated
(Think “megaphone”)
use
form opinion
talk
Social content, networks, and interactions
word-of-mouth
The Social Feedback Cycle
relative media spending
brand awareness keyword
Social Web
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The Purchase Funnel
Social Media
Awareness Consideration Purchase
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The Social Web, Deconstructed.
Social Content
Social Platforms
BLOGS
VIDEOSMICROBLOGS
AUDIO (PODCAST)
PHOTOS
BRANDED SOCIAL
NETWORKS
WIKIS
WHITE-LABELSOCIAL NETWORKS
PROFILES
EVENTS and CALENDARS
STATUS UPDATES
Social Graph
INTERACTIONS
A place to meet, connect, collaborate, and solve problems.
What’s a TV Channel?
We all have them… but what
are they?
0:43
@evansdave #bizbuzz
TV: Sarnoff’s Law
•Broadcast: One-to-Many.
•Value is related directly to the subscriber base.
•Conversation is one-sided; Passive audience.
•TV Facilitates Interruptions.
What does this mean for my
business?“If you couldn’t interrupt me, how would you reach me?”
1:150:40
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Question Authority
of consumers don’t believe that companies tell the truth in advertisements76%
Source:Yankelovich
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Case Study: DELL
• August 7, 2005:• Satisfaction plummeting;• Marketshare shrinking;• Stock price deflating; 700 Comments
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• Dell Support reduces support cost and improves support experience.
• Built on Lithium Technologies forums platform
Case Study: DELL
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Case Study: DELL
• IdeaStorm solicits ideas directly from customers.
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• Built around lifestyle of “mobile”
• Indirectly promotes Dell hardware.
Case Study: DELL
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•Built around lifestyle of small biz owners, rather than Dell.
•Operated by Dell Small Biz team.
Case Study: DELL
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Case Study: DELL
• Employee community that facilitates collaboration and response to customer issues
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Our @DellOutlet is over 1.5 million followers on Twitter. We’ve now passed $3 million from DellOutlet and $6 million from DellSmBizOffers.
Lionel Menchaca, Dell Chief Blogger
Case Study: DELL
Implementing Social Media
Bringing Friends and Colleagues Closer A Sea of Shared
Knowledge Less of a Television Channel Misunderstandings Cause Many of the World's
Woes Coming to Better Understandings We
Leave for Those Who Follow A Friendly Environment For Them to Adopt or Correct
Working on Knowledge Together Made of Things We Have Seen or Figured Out Our Reasoning and Assumptions Having Worked Them Out
We Can Work Them Out in Cyberspace
0:35
@evansdave #bizbuzz
Tie to Business Objectives
•What are you trying to do?
•Who are you trying to do it to?
•How will you measure results?Thinking of the Social Web as “Twitter” or “Facebook”
is like thinking about “America” as a tractor or cement mixer. It’s not about the tools: It’s about what the tools enable.
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Understand the Audience
Consumption and participation are indicators of the clear trend.
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Integrate with Marketing
Integrated Campaigns
Social Media
Magazines
TV and Radio
Direct MailOnline
Advertising
http://www.brooklynmuseum.org
What does this mean for my
business?How do I influence the collective?
How do I build support inside my organization?
0:30
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The Operations Connection
Operations Marketing
The challenges that CMOs are tasked with are often more operational than “marketing.”
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Mary Beth Kemp/ Forrester
•Marketers need to:
•Connect the dots
•Disparate Holistic
•Prepare for innovation
“Take the reins of the brand experience and ensure that all of the touch points in the company -- operations, retail, sales teams, the call center -- adhere to and promote the brand experience consistently.”
@evansdave #bizbuzz
http://johnbell.typepad.com/
Using Social Networks, I
Spotting influencers is key to efficient outreach.
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•Targeted CPC
•LinkedIn to landing page
•Integration via API
Using Social Networks, II
This is a smarter landing page!
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http://itsinsider.com/ http://www.socialmedia.org/
• Launched 2008
• Average 2 customer-driven innovations per week.
• Stock price has outperformed competitive set since program began.
Using Social Networks, III
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Using Social Networks, IV
0:27
When your customers are using location-based, real-time tools that provide indicators of organizational behaviors and personal values-based connections, how will your business be forced to evolve?
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Using Social Networks, V
If you saw this tweet in real-time, and knew it was from a patient or family member in your hospital, what would you do next? What would be able to do next?
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Shared Curation
•Us: Enforcing Policy
•Them: Judging Content
http://www.ibm.com/blogs/zz/en/guidelines.html
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Transparency and Disclosure
•To violate trust is to violate a relationship.
•All other mistakes can be forgiven.
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FTC - Transparency
Brand is responsibleCreate code of ethicsWOMMA Ethics Code
Ethics In Social Media
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Measurement and Metrics
Social Media Listening
Web Analytics
Pipeline Metrics
Products with syndicated reviews convert 26% higher
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• Likelihood of Recommendation (0-10)• Share of Promoters (9-10)• Share of Detractors (0-6)• Difference is Net Promoter score
The Net Promoter Score
% Strong Promoters
- % All Detractors
= Net Promoter Score, %
http://www.hearthis.com/index.php/features/fred_reichheld_on_good_profits_and_true_growth/
@evansdave #bizbuzz
Word of Mouth Among Airlines
Source: Harvard Business Review
Net Promoter Doesn’t Lie
(evangelists)
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Four Tips
•Plan “Long-term.” Social Media is not “Fast.”
•Look for conversations and understand them.
•Listen, Engage, Respond.
•Measure everything, and connect it to your business or non-profit organization.
Compelling Examples
Less of a Television Channel Bringing Friends and Colleagues Closer A Sea of
Shared Knowledge We Leave for Those Who Follow Having Worked Them Out Misunderstandings Cause Many of the World's Woes
Our Reasoning and Assumptions A Friendly Environment
Working on Knowledge Together Made of Things We Have Seen or Figured Out For Them to Adopt or Correct Coming to Better
Understandings We Can Work Them Out in Cyberspace
0:15
@evansdave #bizbuzz3:00p
4 Examples: B2B
@evansdave #bizbuzz
“[Being a Thought Leader] is being considered the best, most authoritative, trusted source. It means being the “go to” people. It means being given the first look, being invited into a development project and asked for advice. It means being the organization that others MUST HAVE involved with a project. And it all leads to increased sales, profits, and image or it simply didn’t matter.”
Rick Short, Indium
Indium/ Thought Leadership
“25% reduction in marketing spend”
@evansdave #bizbuzz
AMEX Open Forum
• Provides business advice and insight to AMEX consumers
• Idea Hub for members to network around content based on their interests
• Business directory to help connect SMBs looking for clients or partners
• Unique visitors increased by 525% year on year – from 160,000 in 2008 to nearly 1 million in 2009
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Hospitals (B2C) are Ramping Up
• Microsoft adCenter Community for advertising and publishing professionals
• Engages community through community blogs, Twitter and Facebook
• Active listening program and community management to respond to member communities
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And so is (B2B) Healthcare
• Community for healthcare professionals to share knowledge, experiences and best practices
• Supports continuing education through learning resources
• Over 265,000 registrants are participating in online learning activities
@evansdave #bizbuzz3:00p
2 Examples: B2C
0:10
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BMW/ Facebook• Built in
Facebook, using Graffiti Wall application
• 2-3 hours average time spent
• Integrated with larger marketing program
• Winning car in BMW museum
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Comcast/ Customer Service
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Comcast/ Customer Service
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2 Examples: Gov’t and Non-Profit
10:00a 0:05
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LIVESTRONG/ Grassroots Marketing
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LIVESTRONG/ Grassroots Marketing
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LIVESTRONG/ Grassroots Marketing
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Goodwill/ Brand Repositioning
Program Components:
• Blog
• Facebook Business Page
• YouTube Video
• Twitter Presence
• eBay Sales Page
@evansdave #bizbuzz
• Over 11,500 unique visitors to virtual fashion show; 42,000 page views
• 16% of visitors have been converted into online Goodwill shoppers
• Fashion Show Visitors from 31 countries and 48 states plus DC
• 48% of fashion show visitors from the DC, MD, VA the area we serve)
• Blog is averaging between 600 & 700 visitors a week
• 5.6% of blog visitors converted into online Goodwill shoppers
• Blog visitors from 77 countries and all 50 states
Brick & mortar stores, two weeks following the launch of the fashion show:
• Customer count + 6.6%
• Rack sales (clothing) + 16.5%
• Total sales + 8.275%
Goodwill/ Measuring Results
I had (and still have) a dream that the web could be less of a television channel and more of an interactive sea of shared knowledge. I imagine it immersing us as a warm, friendly environment made of the things we and our friends have seen, heard, believe or have figured out. I would like it to bring our friends and colleagues closer, in that by working on this knowledge together we can come to better understandings.
If misunderstandings are the cause of many of the world's woes, then can we not work them out in cyberspace. And, having worked them out, we leave for those who follow a trail of our reasoning and assumptions for them to adopt, or correct.
--Tim Berners-Lee, 1995, Vannevar Bush Symposium at MIT
A Sea of Shared Knowledge
Thank You@evansdave #bizbuzz