"the social consumer: who are these people and why are you ignoring them" by marcus...
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"The Social Consumer: Who Are These People and Why Are You Ignoring Them" by Marcus Whitney, CEO of Moontoast. Presented at Murmuration 2012.TRANSCRIPT
® Copyright 2011 Moontoast, LLC. All Rights Reserved
THE SOCIAL CONSUMER WHO ARE THESE PEOPLE AND WHY ARE YOU IGNORING THEM?
The following slideshow was presented by Moontoast’s CEO
Marcus Whitney at
Murmuration 2012
2
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People are spending more time on social
networks than ever before
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THE SOCIAL CONSUMER
77% 42%
1/3 6.3
Online adult population
on social networks
Consumers who said they
would shop directly on Facebook Number of retailers ‘followed’ by
the average consumer
2011 Social Commerce Study Top Findings
Source: 2011 Social Commerce Study, May 2011, a study by comScore, Inc., Social Shopping Labs, and Shop.org
Consumers who have
proactively “followed” a
retailer
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Moontoast sees the opportunity
for your brand.
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At Moontoast, we envision a world where
brands are empowered to deliver happiness
to consumers by social design and robust
technology.
8 | Copyright 2012 Moontoast, LLC. All Rights Reserved
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What we’re doing about it…
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Our mission is to create the best technology
in the world for brands to leverage the
social revolution, creating and growing
valuable relationships with their consumers.
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Brands that LOVE their fans get
it.
They roll with us.
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Brands who depend on their fans
are choosing Moontoast
to capture the
Social Commerce Opportunity.
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But we were still speaking another language
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Unique Value Proposition
14 14 | Copyright 2012 Moontoast, LLC. All Rights Reserved
We realized about 3 months ago, something
was missing. We couldn’t tell our story in the
terms that were left from the old web.
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Unique Value Proposition
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For example, look at the word: Conversion
con·ver·sion [kuhn-vur-zhuhn, -shuhn] Noun
1. the act or process of converting; state of being converted.
2. change in character, form, or function.
3. spiritual change from sinfulness to righteousness.
4. change from one religion, political belief, viewpoint, etc., to another.
5. a change of attitude, emotion, or viewpoint from one of indifference,
disbelief, or antagonism to one of acceptance, faith, or enthusiastic
support, especially such a change in a person's religion.
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A little strong isn’t it? I mean, it’s just marketing.
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The Social Commerce Truths.
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People aren’t supposed to be pushed
through a funnel.
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Traffic sucks.
No one wants to be converted.
People just want a good deal from a great brand.
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Social Commerce isn’t just a strategy…
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The Realization
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We realized the Social Revolution for brands
is not about traffic & conversion.
23 | Copyright 2012 Moontoast, LLC. All Rights Reserved
® Copyright 2011 Moontoast, LLC. All Rights Reserved
We realized the Social Revolution for brands
is not about traffic & conversion.
It’s about…
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Relationships
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Relevancy
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Results
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Return on Fan
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Return On Fan™
is the quantitative and qualitative measurement
of the impact that a fan has on a brand in the
Social Web.
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All Fans are not created equal.
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Measure appropriately, build up the valuable relationships.
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Your Brand’s Ability to Relate Directly Impacts
Your Impressions
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In Social, Pay for play is not as effective as authentic relationships, and the rules of that game is EdgeRank
1. Affinity: If you spend more time talking with certain friends on Facebook by posting to their wall, your affinity with those friends will be stronger.
2. Weight: Weight is essentially the level of interaction a piece of content gets (for example, likes and comments).
3. Time Decay: Over time a post’s relevance decays, thus making it less important and pushing it down the feed.
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P&G Found Out: Social Saves Ad Dollars.
34 34 | Copyright 2012 Moontoast, LLC. All Rights Reserved
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BUILDING RELATIONSHIPS
POSTS On average, expect 3% of your community
to interact with your posts through likes,
comments, shares, etc.
One post at at time.
PAGES 96% of fans who like a brand never return to
the page, rather they consume updates
through the news feed.
People are 40-150 times
more likely to consume
brand updates in the news
feed rather than on the
brand page itself.
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The Return on Fan™ Activation Lifecycle
Discovery
Interaction
Transaction
Endorsement
1
3
2
4
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Uh Oh… Don’t Piss Off the Social Media Police!!!
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CMO Council and Lithium Study
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Here’s what we (CMOs) think they want…
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They don’t care about the content. Give them the promos!
40 40 | Copyright 2012 Moontoast, LLC. All Rights Reserved
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Your Brand lives everywhere, not just
your website. TransAct like it.
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Engage and Transact Where The Fan Is –
Distributed Social Commerce takes commerce to the fan,
maximizing engagement and transactions at the point of impression.
Social • Where fans connect
with the brand
• Impulse purchases
from Social prompts
• Built to be viral
Affiliate •Contextual offers on
partner sites
•Turn Fan and Affiliate
Sites into Fan Stores
• Co-Brand Stores to
add value to Affiliate
Sites
Ad
Networks • Transactional Ads
• Improved Conversion
and ROI
•Publishers keep fans
engaged
Mobile •QR Codes, SMS
Messages, Social Apps
and Check-In Apps
• Leverage GPS for
local context in
commerce
BRAND
OFFER
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Moontoast SOCIAL ACTIVATION
ENGINE
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Fan Activation For Everywhere Your Brand
Lives
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How Moontoast Social Activation Engine Works
45
Brand Fan Locations/Channels:
FB, Twitter, YouTube, Websites, Blogs, Content networks, Communities,
Portals, Mobile
Social Analytics: Transactional Data, Number of Likes Shared Stores, Top Selling Campaign Most Popular Product, Registrations,
Downloads
Brand Offers: Products, Content, Rewards Donations, Videos, Music,
Messages, Images, Coupons…
Social Apps: Social Stores
AdStores PopUp Stores Digital Promos Email Rewards
Contests Audio & Video
Surveys Mobile
Insights Influence Next Offer
Moontoast Social Activation Engine
Social Engagement Apps
Social Commerce Apps
Standard Analytics
Premium Analytics
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Takeaway Time
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Three Disruptive Takeaways Three Disruptive Takeaways
1. Every Social Channel is a Loyalty Channel for your
brand (this includes content networks with comment
boards)
Three Disruptive Takeaways
1. Every Social Channel is a Loyalty Channel for your
brand (this includes content networks with comment
boards)
2. Stop comparing the sales you get in those channels to
your email / website sales. This is about Relationship
Building.
Three Disruptive Takeaways
1. Every Social Channel is a Loyalty Channel for your
brand (this includes content networks with comment
boards)
2. Stop comparing the sales you get in those channels to
your email / website sales. This is about Relationship
Building.
3. Transact everywhere (not just financially) to start to
measure your Return on Fan™.
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