e-business me-business we-business:
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e-business me-business we-business: . How the Social Data Revolution Changes the Way Consumers Make Decisions. Digital Day China Shanghai, 22 Nov 2011. Why this revolution? It addresses the 3 deep needs:. A pproval B elonging C ommunication. What is the revolution?. - PowerPoint PPT PresentationTRANSCRIPT
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e-businessme-businesswe-business:
How the Social Data Revolution Changes the Way
Consumers Make DecisionsDigital Day China
Shanghai, 22 Nov 2011
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Approval
Belonging
Communication
Why this revolution?It addresses the 3 deep
needs:
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Irreversible shift in mindset of customers about who they are, how they relate, how they make decisions
What is the revolution?
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e-businessme-businesswe-business
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e-business(company focus, Web 1.0)
• Website provides controlled information
• Website possibly allows for transactions
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me-business(user focus, Web 2.0)
• Consumer in the center• Self-expression, 晒 (shai, show off)
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we-business(community focus, Web 3.0)
• Collective intelligence• The social consumer
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SocialLocal
Mobile
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• Friends: People who like you– Offline– Online
• Peers: People like you– Similar background– Similar situation
• Experts
USA: Who do Consumers Trust?
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average (1-10 scale)
| China: Credibility
8.5 | Friends and family8.0 | Internet word of
mouth7.0 | News and
authorities5.3 | Sales person5.0 | Ads
Source: CIC 2010 Efluencer Survey
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Two meanings of “social”
1. Social graph Who is connected with whom?
2. Social data
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Case study: What data for targeting a new phone product?
Connection data
• Who called who?
Traditional segmentation
• Demographics• Loyalty
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Connection data
Traditionalsegmentation
0.28%
Adoptionrate
1.35%
4.8x
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Amazon.com Share the Love
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Result: Amazing conversion rates
since customer chooses
Content (the item)
Context (she just bought that item)
Connection (she asked Amazon to email her friend)
Conversation (information as excuse for
communication)
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1. Social graph 2. Social data Consumer create and share data Knowingly and willingly
Two meanings of “social”
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Or is information justan excuse for
communication?
Purpose of communication:to transmit information?
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Customers- engage- connect- 3 times per week on average
Nike+
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Rooms to Avoid:
01, 21
08, 17
Rooms Ending in:
Possible Ice Machine / Elevator Noise
Limited View Rooms
Corner / Oversized Rooms:
04
24
Oversized, Corner Room, Quiet RoomOversized, Corner Room with North Times Square Views (Higher Floors are Preferred
Rooms Ending in:
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SocialLocal
Mobile
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Local Absolute: Place, time
• Individual: Identity, History• Aggregate: Insights
Relative: Distance• To a business: Advertising• Between people: Dating• Between devices: Risk
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Location HistoryGoogle Latitude
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SocialLocal
Mobile
“SoLoMo”
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MobileContext, situation• Sound• Light
Customers interact• Tag• Scan
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Situation• Geo-
location• Device
Attention• Clicks,
Transactions
Intention• Search
Connection• Social
graph
User generated• Reviews
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Question:
What is the biggest changein the last 5, 10 years
you have seen?
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The amount of data a person creates
doubles every 1.5 years• after five years x 10• after ten years x 100
Social Data Growth is EXPONENTIAL
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Data = Digital Air
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10,000,000 Web searchesAd requestsText messages
1,000,000 Facebook posts
100,000 Product searchesTweets
In the last Minute…
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Fundamental Shift in Communication
One-way Two-way
Asynchronous SynchronousPlanning Interaction
List FlowPrivate Public
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A. Production: Everybody creates data.
B. Distribution: Everybody shares data.
C. Consumption: Everybody uses data.
• The study of the consumer has changed
• The consumer has changed
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Consumer Decision Making
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Marketer-generated
awareconsider
buy useopinion
share
Consumer-generated
Funnel Megaphone
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“Tina Jiang is my go to LV person”
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Top 8 Brands (by number of posts)
Source: The Voice of the Luxury (4.5M posts in CIC luxury panel 2011.Q1)
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Category (by number of posts)
Source: The Voice of the Luxury (4.5M posts in CIC luxury panel 2011.Q1)
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Topic (number of posts)
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Content (by number of posts)
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Who Can You Get To Work For You?
100M Customers
100k Employees
100 Specialists
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Company
Customers
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Product
Customer
Brand
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Help people make better decisions
Make it trivially easy for them to
contribute
Give people an excuse to connect
Note: Products/services that use social data improve over timeTake the test yourself http://socialdatalab.com/intelligence
Product Culture
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Do not have Somewhere already
Cannot get Can! User will give
Must not use Embrace it
Be secretive Be transparent
Information asymmetry
Information symmetry
Data Culture
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1. Facebook Designed for contribution and distribution
2. Google Take whatever you can get
3. Amazon Customer-centric: Help them make decisions
Company Culture (“DNA”)
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Advertising
Branding
Corporate Communication
Ingredients for engagement:
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Approval
Belonging
Communication
Ingredients for engagement:
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Two Monologues are not a Dialogue!
Twitter: The Illusion of an Audience?
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1993
“On the Internet, nobody knows you’re a dog”
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2011
“On the Internet, everybody knows you’re a dog”
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e-businessme-businesswe-business
[email protected]+86 138 1818 3800www.weigend.com
Dr. Andreas Weigend, Social Data Lab