masterclass social media 31 jan 2013 - enpc mba

Alon Rozen

Assistant Dean

January 31, 2013

Prof. Alon Rozen © 2013

Quick survey

What social media do you use?

What social media sites have you been tempted to try?

Have you ever clicked on a Facebook ad?


Digital age definition

mar·ket·ing/ˈmärkitiNG/ (noun)

A conversation between a brand

and its market(s)

(hat tip to the Clue Train Manifesto)


Then something happened…

Brands were not part of the conversation…

So they had to join the conversation!


Social Media and MarketingSocial media is a conversation… but much different!!!

Marketing has had to adapt because of social media:

FROM TO

LISTENINGOBSERVINGINTERACTINGFACILITATING

Passive consumers became (inter)active, brands have gone from monolog to dialog…


What is Social Media?

Peter Drucker: the purpose of a

business is to create a customer.

Shiv Singh (Razorfish): the

purpose of social media is to

create a customer … who creates

a customer!


FriendsPhotosGamesShoppingMusicNewsTravelPaymentLendingSoftware

Isanythingnotsocial?


First Moment of Truth

A key element in purchase psychology = F-MOT

Lafley, CEO, P&G (2005): Top brands consistently win two moments of truth: 1 at the store shelf, when a consumer decides what brand to buy. 2 at first use: a love it or leave it moment!


Zero Moment of Truth (Google)Lisicki, Google:

ZMOT learning before trying or buying.

SocMed: a major shift in how people share and discover

information, interact with friends/colleagues/brands, create

content, research purchase intentions and make decisions.


Social Media is now ZMOT media

Content created by users: reviews, comments, opinions of your friends, blogs you read, twitter feeds you follow… will help you decide what to even consider for purchase.

Competition around ZMOT is increasing.

Each purchase you make will be a ZMOT for others!


From ZMOT to EPO

Source: Altimeter 2012

WebsiteBlogTwitter account

Paid AdsAdWordsAffiliates

Word of Mouth, Buzz, Viral marketing


From EPO to the new BrandSphere

Paid: Digital ads, banners, adwords, overlays

Owned: Created assets, custom content

Earned: Brand-related conversations and user-generated content

Promoted: in-stream or social paid promotions vehicles (e.g. Twitter promoted products, Facebook sponsored stories)

Shared: Open platforms where customers co-create and collaborate with brands(e.g. Dell’s IdeaStorm and Starbuck’s MyStarbucksIdea.)

Source: Brian Solis

http://www.ideastorm.com/

http://mystarbucksidea.force.com/


Understanding the BrandSphere


Types of Social Media Blogging

Blogger, WordPress, NRJ, Twitter, Tumblr (micro-blogging)

Social Networking Facebook, MySpace, Classmates, Friendster, Bebo, Orkut, Hi5,

Pinterest, LinkedIn, Plaxo, Xing, naymes, Viadeo, Small World, Branch Out

Bookmarking sites Del.icio.us, blogmarks, dogear

Photo / Video sites Instagram, Flickr, Photobucket, YouTube, Vimeo, Daily Motion

Virtual Reality Second Life, World Of Warcraft (WOW)

Groups Google+, Yahoo!, Skype


Social media in perspectiveBlogs – 12 billion posts on Tumblr (79M blogs) alone

Facebook – +1B users, ~500M mobile users!

Twitter – 500M users, 750M twts/day, 1M accts/day in ‘12

YouTube – 25% global bandwidth, Gangnam +1.2B views!

LinkedIn – 187M active users, 200 countries, 1M groups

Google+ – 400M users end ‘12, 5B +1 daily! #2 social site!

Pinterest – 25M+ users, fastest site to 10M ever! 22M visits in Jan 2012, more referrals than G+, LI, YT combined!

Instagram – 1M>15M users in 2011, 15M>80M in 2012 Bought by FB for $1B in Apr ‘12. Now, +40M photos/day!

Sources: Wasserman, Mashable (Jan and Apr 2012), Brandon Butler, Network World (Feb 2012), Business Insider (Apr 2012), mediabistro.com (Nov 2012), The #RLTM Scoreboard: Social Networking Stats for the Week (2 Nov. 2012), Huffingtonpost.com (29 Nov 2012)


Social media: share of e-marketing


Facebook brand pages: permaflux


SocMed content strategy: 3 Rs

Post a video to YouTube

Post to Blog with video embedded

Tweet about new post with

link to Facebook

Post video + §1 of story to

Facebook with link to blog

On blog invite comments on

YouTube

ReduceRe-useRecycle


Social Media Strategies (HBR)

Predictive Practitioner – using social media in one area, selectively. Ex. User-generated innovation at Clorox



Creative Experimenter – small-scale tests across areas or social media. Ex. : Customer support at Dell

Dell’s use of Twitter is responsible for $6.5M in sales worldwide.



Social Media Champion – large initiatives often requiring collaboration across functions, levels and partners.

Ex. Ford’s Fiesta Movement – give 100 people a car for 6 months and ask them to share their experiences through YouTube, Flickr, Facebook and Twitter accounts.…

Results: 6.5M YouTube views, 50K requests for information and 10,000 Fiestas sold in the first 6 days of sales.


IBM Connections


Corporate SocMed as strategy

IBM now selling Connections to other businesses

Example of the power of internal social media

A big retailer using Connections

A store manager posted on a “stockout” and asked if any other stores had any spare inventory?”

Other store managers asked “Stockout?! Nobody is buying this in our store. How did you sell it?”

This led to a new “best practice” across stores!

Now a best practice enabler for operations, HR and marketing!


Social media – beyond marketing


Social media - beyond IPO? A financial and marketing strategy. Ex. Pebble


Some SocMed trends for 2012 TV goes social. Internet and TV will become far more

interlinked integrating social activities into TV.

Essential social. SocMedia strategy is no longer optional, will extend beyond marketing to HR, finance, sales, NPD...

Social commerce. S-commerce fires up, with user reviews and +1’s/Likes increasing influence on consumer behavior.

Branded content for social. Brands will go beyond coupons and discounts to engage consumers.

Social search. Increased competition among Facebook, Twitter and Google on the search function

More of the same. Facebook will hit 1billion users in 2012.Source: http://socialmediatoday.com/gloople/411976/2012-7-new-trends-social-media


Old Spice Social Strategist Job1. Create the best original Pinterest board dedicated to …

2. Post original content to Reddit that receives the most upvotes…

3. Upload to SlideShare an analysis of the Ed Hardy SocMedecosystem…

4. Get the most people to friend your mother on Facebook …

5. Create a new Twitter account and get the most followers in a week…

6. Create an original YouTube video that receives the most plays…

7. Get recommendations on LinkedIn from 3 other people…

8. Create the most reviewed recipe on allrecipes.com in a single week…

9. Upload the most pictures of your armpit(s) to Instagram, include the hashtag #mypits.

10.Using Quora, give thought-out, meaningful answers to as many dream catcher-related questions as possible in a single week.


SocMed & Reputation Management

Feb 2012 – an Israeli notices that Pesek Zman, a candy bar is selling for half price in the US.

Publishes photos on Facebook, calls to boycott the co.

Demands: price reduction of 50% on all products!

What would you do?

Company reaction:

1. President meets the movement.

2. CEO published videos on YouTube and Facebook.

3. VP Marketing holds live chat on Facebook.

PS: Sales of the candy bar rose 40% sustainably since!

Thank you!

masterclass social media 31 jan 2013 - enpc mba

Documents

social media sites

purpose of social media

marketingsocial media

quick surveywhat social

zmot media content

zmot learning

purchase psychology

bookmarking sites