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

@evansdave #bizbuzz

The Purchase Funnel

Social Media

Awareness Consideration Purchase

@evansdave #bizbuzz

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

@evansdave #bizbuzz

Question Authority

of consumers don’t believe that companies tell the truth in advertisements76%

Source:Yankelovich

@evansdave #bizbuzz

Case Study: DELL

• August 7, 2005:• Satisfaction plummeting;• Marketshare shrinking;• Stock price deflating; 700 Comments

@evansdave #bizbuzz

• Dell Support reduces support cost and improves support experience.

• Built on Lithium Technologies forums platform

Case Study: DELL

@evansdave #bizbuzz

Case Study: DELL

• IdeaStorm solicits ideas directly from customers.

@evansdave #bizbuzz

• Built around lifestyle of “mobile”

• Indirectly promotes Dell hardware.

Case Study: DELL

@evansdave #bizbuzz

•Built around lifestyle of small biz owners, rather than Dell.

•Operated by Dell Small Biz team.

Case Study: DELL

@evansdave #bizbuzz

Case Study: DELL

• Employee community that facilitates collaboration and response to customer issues

@evansdave #bizbuzz

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.

@evansdave #bizbuzz

Understand the Audience

Consumption and participation are indicators of the clear trend.

@evansdave #bizbuzz

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

@evansdave #bizbuzz

The Operations Connection

Operations Marketing

The challenges that CMOs are tasked with are often more operational than “marketing.”

@evansdave #bizbuzz

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.

@evansdave #bizbuzz

•Targeted CPC

•LinkedIn to landing page

•Integration via API

Using Social Networks, II

This is a smarter landing page!

@evansdave #bizbuzz

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

@evansdave #bizbuzz

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?

@evansdave #bizbuzz

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?

@evansdave #bizbuzz

Shared Curation

•Us: Enforcing Policy

•Them: Judging Content

http://www.ibm.com/blogs/zz/en/guidelines.html

@evansdave #bizbuzz

Transparency and Disclosure

•To violate trust is to violate a relationship.

•All other mistakes can be forgiven.

@evansdave #bizbuzz

FTC - Transparency

Brand is responsibleCreate code of ethicsWOMMA Ethics Code

Ethics In Social Media

@evansdave #bizbuzz

Measurement and Metrics

Social Media Listening

Web Analytics

Pipeline Metrics

Products with syndicated reviews convert 26% higher

@evansdave #bizbuzz

• 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)

@evansdave #bizbuzz

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

@evansdave #bizbuzz

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

@evansdave #bizbuzz

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

@evansdave #bizbuzz

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

@evansdave #bizbuzz

Comcast/ Customer Service

@evansdave #bizbuzz

Comcast/ Customer Service

@evansdave #bizbuzz

2 Examples: Gov’t and Non-Profit

10:00a 0:05

@evansdave #bizbuzz

LIVESTRONG/ Grassroots Marketing

@evansdave #bizbuzz

LIVESTRONG/ Grassroots Marketing

@evansdave #bizbuzz

LIVESTRONG/ Grassroots Marketing

@evansdave #bizbuzz

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