SOCIAL MEDIA BUSINESS ADOPTION & TRENDS

SOCIAL MEDIA BUSINESS ADOPTION & TRENDSIABC meeting 2.3.11 presented by andrew foote

THE EMPOWERED INDIVIDUAL, THE NEW POWER INFLUENCER

Technology and other social forces have empowered the individual to act as citizen marketer, influencer, activist and self-publishing journalist.

“Someone like me” is the most trusted source (60% in US)

http://www.flickr.com/photos/sungazing/2793271140/

THE CONSUMER DECISION JOURNEY HAS EVOLVED

David C. EdelmanHarvard Business Review, Dec. 2010

WHAT DOES AN EMPOWERED CONSUMER MEAN FOR MARKETERS?

OPPORTUNITY

RISK

YouTube video shows Employees tampering

with food at a Dominos outlet

CEO video on YouTubeaddresses the issue

and reassures customers

Dominos sets up a corporate Twitter profile to

respond to customers

Consumers share YouTube videothrough Twitter, picked up by The

Consumerist, NYT and Huffington Post

Issue impacted search results for Dominos

to this day

HOW ARE MARKETERS ADAPTING?

The purpose of a business is to create a customer – Peter Drucker

…who creates customers – Shiv Singh

Note: Includes companies with 100+ employeesSource: eMarketer, Nov. 1 2010

% of Total

Global Social Media Check Up, 2010

MOVING BEYOND THE CAMPAIGN CYCLE

campaign campaign campaign campaign

time

audience

CREATING PLATFORMS FOR SUSTAINED ENGAGEMENT

time

audience

utility

HOW ARE COMPANIES ORANIZING SOCIAL MEDIA EFFORTS?

BUILD STRATEGY IN ALIGNMENT WITH BUSINESS GOALS

Behavior Change Economic Success

Raising awareness

Shifting attitudes and change stakeholder perceptions

Driving trial

Inspiring action: Do more or Do less

Recommending (e.g. net promoter score)

Increasing sales

Growing market share (or brand preference share)

Return on marketing investment

Growing shareholder value or share price

Increasing reputation and image (via external rankings, stock price)

ESTABLISH A STRONG FOUNDATION

TAKE A CROSS-FUNCTIONAL APPROACH

Enterprise Digital + Social Media Strategy

Channel/Platform Strategy

Resources, Roles, Responsibilities

Content Integration

Guidelines, Protocols, Best Practices

IT / Legal

Customer Service

Human Resources

MarketingSales Comms

Social Media StrategiesDigital Governance Model Social Media TrainingWeb Development

Editorial PlanningCampaign DevelopmentMeasurement Approach

Content Creation

SEO/SEMBlogger Activation

Program RefinementInsights & Education

Agency Partners

HOW ARE COMPANIES USING SOCIAL MEDIA?

LISTENING, GATHERING INSIGHTS, RESPONDING TO CUSTOMERS

PROTECTING CORPORATE REPUTATION

BUILDING FAN LOYALTY THROUGH EXCLUSIVE EXPERIENCES

DRIVING SALES

ENHANCING CSR EFFORTS

IMPROVING AND CO-CREATING PRODUCTS/SERVICES

DELIVERING VALUE & UTILITY

INCREASING PRODUCT TRIAL

ENGAGING & EMPOWERING BRAND ADVOCATES

PROVIDING INSIGHTS & EDUCATION

THANK YOU

Andrew FooteEdelman Digitalandrew.foote@edelman.com Twitter: @andrewfoote