the business case for transmedia
DESCRIPTION
How transmedia, multichannel experiences should be measured.TRANSCRIPT
Coffee and a Chat with Joanne Jacobs
Or, The Business Case for Transmedia
Joanne JacobsCOO, 1000heads | @joannejacobs
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Session Promise
To discuss the perception of transmedia by the business worldTo acknowledge the role of recommendations in shaping marketingTo show how social channels can be used to assist all aspects of businessTo identify new ROI metrics for transmedia strategies
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Transmedia in business
Leaving aside the fact that no-one in business uses the term ‘transmedia’…
Business doesn’t yet understand how to make use of multiplatform experiences
Multiplatform or 2 screen experiences often (wrongly) considered as merely ‘another marketing channel’
Image source: http://ansonalex.com/infographics/social-media-usage-statistics-2012-infographic/#infographic originally posted by OnlineMBA.com
Inhibitors to success
Difficult for traditional media people to drop broadcast mentality
Difficult for marketers to resist controlling messages
Difficult for business to grasp that sales is not the only way to optimise business and generate profit.
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Social media
You don’t make money from social media.
You save money with social media.
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Value – some definitions
Value: benefit from a good/serviceUtility: aggregate sum of satisfaction or benefit that an individual gains from consuming a given amount of goods/servicesPrice: market rate at which goods/services are exchangedEconomic cost: amount paid for a good/service when compared with alternatives. This includes total, variable, fixed, marginal and opportunity costs.
ROI is based on economic costs, not value or utility.
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Social media saves money
ROI of social media is drawn from
opportunity costs –cost to business of
failing to adopt next best option
and from variable costs – expenses that change in
proportion to the activity of a business
So….
Businesses adopt social media because it’s what competitors are doing.
And….
Businesses adopt social because it’s cheaper market research/product development/supply chain management than existing processes
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Business optimisation
The ROI of transmedia is in business optimisation.
The ROI of transmedia among users is quality of information and participation.
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Why Social Media Exists
Decline in trust of corporate sources
Need for specialised information
Understanding that expertise is located around passionate individuals, not necessarily around paid endorsers
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Trust
Trust is generated through
ahistory of voluntary
contributions of useful, reliable
information
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Stories as Sources of Trust
Most valued contributions of information come from people you know
Stories of experiences are the most likely vector of such information
Image source: http://www.flickr.com/photos/pagedooley/4080412658/
Influencers
People near youPeople you respect
Both develop a history of
interactions based on trust
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Social Media and Influencers
Influencers tend to have robust history of interactions in social channels
Tend to share useful content created by others, not just themselves
Tend to respond quickly and in an appropriate manner for the social channel
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Social Media Characteristics
Facebook: social channel, closed network
Twitter: short lived channel, good for abbreviated knowledge sharing
LinkedIn: professional knowledge exchange, good for Q&A, group organisation
Google+: good for hangouts and collective problem solving
Pinterest: good for visual stories, ‘ideation’
Path: good for mobile/dispersed users sharing content
Niche networks: better for diverse information exchanges and multiple learning styles
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Finding Influencers
Influence measurement toolsResearch on activity and expertiseAsk group members who they respect and consider an expert
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Influence measurement tools
• Klout measures:– Frequency and 'value' of interactions across
a range of network
• Peer Index measures:– Engagements over time in subject areas and
based on feedback/conversations
• PeopleBrowsr measures:– Activity as well as more traditional
achievement oriented measures (qualifications, community appeal) and sets this in terms of audience reach
Activity not a useful measure of actual influence.
Measurement of Learning
NOT hit rates
NOT number of engagements
Change in organisational practice
Speed of response to issues
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Delivery on Session Promises
Identified how social media platforms and processes support different learning styles (fast
learning, slow learning, collaborative, communicative, etc)
Demonstrated the role of stories and trust in facilitating learning through social media
Shown how influencers can be used as both a channel and a location for learning
Described the role of new intermediaries for organisational learning
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Joanne JacobsChief Operating Officer, 1000headsp: +61 2 9809 8966 m: +61 2 419 131 077e: [email protected]: @joannejacobs
Questions
Unless otherwise specified, all images used in this presentation are Creative Commons under an attribution licence. All sources are identified.