lessons learned by social businesses, 10 june 2014
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Richard Beattie, Senior Director Marketing and Social Cloud for Oracle, looked at the changes in social technology and how it is enhancing business at Cambridgeshire Chambers of Commerce Social Media event on 10 June 2014..TRANSCRIPT
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@RichardLeRosBifRichard Beattie
Lessons Learned by Social Businesses10 June 2014
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Socially-Enabled BusinessesToday’s Key Takeaways
Technology & Social Changing Everything Empowered Customers in Control with High Expectations Transformational Changes Occurring for Business Technology is the Foundation Our Customers Finding Social Success
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St. Peter’s Square, Rome
Mobile, Digital, Social via the Cloud
Technology Changing Everything
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Adoption of Technology - Social’s Swift Pace
How long does it take
to reach
50 Million users?
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“Social media is not a fad. It is a powerful, global communication revolution that requires new approaches for all businesses.”Robert SafianEditor, Fast Company
The Social Mindset is Here to Stay
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o 42% growth expected for tablets in 2014 alone.
o 1 Billion + Smartphones Worldwide.
o 2+ hours per day spent with smartphones.
Social is Growing…Mobile Propelling it Along.
o 63% of smartphone users are social networkers
o Mobile Overtakes Desktop: More than 52% of time spent online is now on smartphones and tablets.70%+
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Online & Offline Worlds Continue to Merge
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Connected & Empowered CustomersCloud Enabling Powerful Digital Connections
o 70% of all mobile searches result in action within 1 hour.
o 86% of customers will start doing business with a competitor after a bad customer experience.
o 61% of consumers expect brands to engage them with product and promotional info on social.
o 89% - The effectiveness of content marketing when based on customer testimonials.
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Consumerization has Affected Your Business
Mass media Internet / 1:1 Social/Mobile
Customer Power and Choice
Company Power and Voice
Source: 2011 Customer Experience Impact Report (CEI), based on a survey commissioned by RightNow and conducted by Harris Interactive.
“If you make customers unhappy in the physical world, they might each tell six friends. If you make customers unhappy on the Internet, they can each tell 6,000.”
Jeff Bezos, Amazon CEO
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Customers Can Create Problems for Brands
Promoted Tweet to 300k after a negative luggage experience.
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Brands Can Create Solutions for Customers
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Social is Influencing Purchasing Decisions
Four in ten social users have purchased an item online or in-store after sharing or favoriting it.
40%
90% 90% of all purchases are subject to social influence.
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Businesses Seeing the Real Results
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Brands Rethinking Social Across Enterprise
“The whole company needs to move in a more social direction. It’s across the whole value chain, from recruitment through marketing and product development, and onto execution of the marketing assets.”
Lars SilberbauerGlobal Social Media Director, LEGO
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70% believe social is transformational for
their organization.
Only 10% believe
they are doing it well.
Problem: Social Aspirations Falling Short
MIT Sloan Management Review, July 2103
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• “The evolution of social business doesn’t happen overnight; its requisite is a realization and cultural shift around the value that social media affords the entire organization, across multiple business units and applications.”
Altimeter, “The Evolution of Social Business”March 2013
Social Business Evolution
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Social Today is Evolving & Maturing…
Broadcasting Listening & Engaging Relationships
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Mobile
SocialIn Store Contact Center
Field Service
Direct Sales
Channel SalesWeb Oracle Marketing
Oracle Commerce
OracleSales
Oracle Service
Foundational Tools
Oracle CloudInfrastructure and Platform Services
Oracle MDM, BI and Decisioning Tools
Oracle Integration and BPM/SOA Tools
Oracle Social
Oracle Mobile, Portal and Content Tools
Connects
every
customer
engagement
with your
brand.
Oracle’s Complete CX Portfolio
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Oracle Social Cloud: Key Differentiators
Global Capabilities & Social Expertise
LSA-Powered Listening & Engagement
Purpose Driven, Internal Social Collaboration
Seamless Integration with Oracle Enterprise Portfolio
Global Capabilities &Resources
Social Everywhere Integration with Oracle CX Applications
Global SocialGlobal UI, Advanced Listening, Data Sources
Deeper ListeningEliminates Dirty Data for Precise Insights
Unified Platform Industry’s Only Unified Social Solution
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Oracle Social Cloud Customers
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Our Customers Are Embracing Social for Success
Globally & LocallyConnect & Build
Relationships
“All Ears” Listening; Create Content that
Inspires & Resonates
Integrate Social w/ CRM to Enhance
Overall CX
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Do’s and Don’t’s of Modern Marketing in a Social World
Don’t wait for a proven ROI model for social in your industry
Experiment and just imagine a future where you are the trusted source
Google: “Sweating over an ROI model for Social?”
Lesson
1
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Do’s and Don’t’s of Modern Marketing in a Social World
Don’t hide from the ‘radical-transparency’ brought by Social Media
Embrace it as a benefit and ensure executive support engenders a shift in cultural behaviour
Lesson
2
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Do’s and Don’t’s of Modern Marketing in a Social World
Don’t let one person or department own SocialDo make it everyone’s responsibility and then become a socially enabled business
Google: Altimeter Group/Jeremiah Owyang - Center of Excellence
Lesson
3
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Do’s and Don’t’s of Modern Marketing in a Social World
Don’t hire Social Media aficionados…Hire people passionate about your brand (and who understand business)
Lesson
4
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Do’s and Don’t’s of Modern Marketing in a Social World
Don’t just invest in the enabling technologyInvest more on supporting the business change
Lesson
5
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@RichardLeRosBifRichard Beattie
Q&A