social media 10 key trends

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10 Key Trends and Observations Social Media for Business Neville Hobson Head of Social Media Europe WCG, London December 7, 2009 www.wcgglobal.com

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Social Media: 10 Key Trends & Observations

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Page 1: Social Media 10 Key Trends

10 Key Trendsand Observations

Social Media for Business

Neville HobsonHead of Social Media EuropeWCG, London

December 7, 2009

www.wcgglobal.com

Page 2: Social Media 10 Key Trends

What’s In a Name?

Social Software

Web 2.0

Social MediaEnterprise 2.0

Social Business

New Media

Page 3: Social Media 10 Key Trends

Customers are co-shaping your reputation every day.

Trend #1

Page 4: Social Media 10 Key Trends

Reputation

Are you accidently outsourcing the building of your brand?

What is the impression of your brand?

Page 5: Social Media 10 Key Trends

Customers Shape First Impressions

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YouTube 2nd Biggest Search Engine

Page 7: Social Media 10 Key Trends

You know exactly where conversations are occurring, who has influence, and why.

Precision is what matters

Trend #2

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The Ecosystem Is Complex

Social SoftwareHype Cycle 2009

Page 10: Social Media 10 Key Trends

The Value of Listening

A monitoring approach that tells you: Who is driving share of conversation

for your brand What the top issues are that

matter to your customers Where your customers live

online How you can add value for

your customers When you should engage

the community Why customers are

passionate on certain topics

Page 11: Social Media 10 Key Trends

You know which types of social media are preferred by your customers.

Blogs, forums, wikis, social networking sites, Twitter, and more

Trend #3

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The Value of Metrics

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Tools of the Trade

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You know that leaders will identify issues before they become critical.

If you deal with issues when they hit the press, you are using old school techniques

Most business issues are known about in advance

Trend #4

Page 15: Social Media 10 Key Trends

Patterns Emerge before Public Awareness

1. A common problem emerges in a forum in Poland, a blog in France and a mention on Twitter in the UK

2. Your monitoring and listening activities give you the means to analyze what is happening and prepare

3. When the issue becomes public, you are ready with answers

Customers trust us to be smarter on identifying issues

Page 16: Social Media 10 Key Trends

You realize that less than 1% of a customer’s time is spent purchasing a product.

99% of their time is spent searching and socializing You build trust by being there when your customer needs you,

not when you need your customer

Trend #5

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Purchasing Decisions Evolution

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You realize that media has already changed.

Old school media drives share of voice Share of conversation is what’s important

Trend #6

Page 21: Social Media 10 Key Trends

The Media World Isn’t Changing…

…it has already changed Media Outlets: 74 of top 100 outlets for Techmeme are

blogs/online sites Bloggers: 3 of 4 look to each other for their next story Customers: 3 of 4 look to each other for purchase

advice Conversations: the driver of share-of-voice, influence

and recommendations

Don’t define it as offline or online: it’s all one media world.Just know which conversations are defining your brand.

Page 22: Social Media 10 Key Trends

The New Media

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Meme Trackers = Competitive Advantage

Complete knowledge of where the opportunity really is for your brand Where are conversations occurring? Who has true influence?

Clear, brief, actionable insights for your brand Who are the top influencers? Which keywords matter?

Knowledge of your competitor’s actions So that you outsmart them

Ability to get ahead of issues to improve preparation See trends emerge before they become public, in some cases

Capability to integrate your learning’s into all brand activities, eg, natural search/paid search, use of keywords and much more Insights delivered so you can easily utilize them

Page 24: Social Media 10 Key Trends

You realize customers want to do three things to help each other.

You build trust by being part of this process

Trend #7

Page 25: Social Media 10 Key Trends

Ideas, Knowledge, Solutions

Share ideas Let’s improve the next product or service together

Share product knowledge Here is what I know…hope it helps you

Help peers with problems I had the same problem, here is what I did

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You understand ethical behavior is a key part of maintaining trust.

You’re also an influencer You’ve made the mindset shift

Trend #8

Page 29: Social Media 10 Key Trends

Maintaining Trust

You understand ethical behavior is a key part of maintaining trust You don’t support flogs or splogs

You would never create a fake ad, so why a fake blog post, fake Facebook fan page or fake tweet?

You always practice full disclosure That means about ghost writing, too

http://www.socialmedia.org/disclosure/identity/

Page 30: Social Media 10 Key Trends

You leverage the world’s greatest operating system – the web – internally.

Access for employees is real

Trend #9

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Employee 2.0 Ideas

Idea Communities – ask your employees for ideas; accelerate R&D decision-making

Prediction Markets – wisdom of crowds for specific ideas Community Forums – empower teams Ratings & Reviews – to improve within the company Private B2B Communities – unlock the teams between your

company and your partners, in support of Account Leaders Competitive Sites – bring competitive knowledge direct to

your desktop Smart Phone Ideas – build new way to share news direct via

phones to reach salesforce

Page 32: Social Media 10 Key Trends

Reality…

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You are an active participant in how the world is changing.

You’re also an influencer You’ve made the mindset shift

Trend #10

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The Mindset Shift

Old Model Mainstream media rule Bloggers repurpose

ideas/stories from media Online influence dictated

by homepage Offline and online

treated as separate

New Model Media are bloggers.

Bloggers are media Stories originate with

either online or offline media

Online influence dictated by syndication and search

Offline influence must lead to online influence / vice versa

Page 35: Social Media 10 Key Trends

Why Care About Social Media?

It’s about knowing Where the conversations are happening What your share of the conversations is What the conversations are that you could / should be in Who the key influencers are who can help build your brand

It’s about expanding your news flow Simple syndication – distribute news via basic sharing tools (eg, Twitter and Facebook)

It’s about understanding communities Which groups, forums and networks matter? Who drives share of conversation in these communities? What are the next steps in driving relationships?

It’s about leveraging existing contentand improving your natural search

Page 36: Social Media 10 Key Trends

RightNow?

What Can You Do?

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Start Here

1. Listen

2. Give up control

3. Be natural

4. Make a commitment

5. Be where your customers are

6. Learn to deal with negativity

7. Be humble

8. Have a clear and measurable objective

9. Develop a plan

10. Listen

Page 38: Social Media 10 Key Trends

Start Here

Google your primary brand Then see what’s being

talked about in blogs

Plot a trend on Blogpulse www.blogpulse.com

Open an account at Twitter, and listen twitter.com

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www.wcgglobal.com