Demystify social media & business benefits 21 apr

Demystifying Social Media &How Your Business can Benefit from it 1

Truth #1 : Internet Usage in Singapore is Rising Exponentially 280% Broadband penetration

Truth #2 : At the expense of TV Airtime Ratings and Print Readership3

Truth #3 : Singapore Users are into Social Networking4Projected Exponential GrowthFacebook Growth : 250% in 2 years 495K (‘08) to 1.7M (‘10)Facebook Chart by Willis Wee, Penn Olsen

Truth #4 : It’s not just Gen Y anymore5The 2010 digital marketer: Benchmark and trend report – Experian Marketing

Truth #5 : The customer is king… and is now a lot more marketing-aware and better networked.6Ads are blind spots.Through the Internet, people are discovering and inventing new ways to share relevant knowledge with blinding speed. As a result, markets are getting smarter, more informed, more organized. People in networked markets have figured out that they get far better information and support from one another than from vendors. There are no secrets. The networked market knows more than companies do about their own products. And whether the news is good or bad, they tell everyone.7 of the top 10 markets that rely most on ‘recommendations from consumers’ hail from the Asia region.

Truth #6 : Word of Mouth = Word of Mouse∞7

Truth #7 : Digital Experience influence Purchase Decisions65% of consumers report having had a digital experience that either positively or negatively changed their opinion about a brand. 97% say that their digital experience influenced whether or not they eventually purchased a product or service from that brand.Source : 2010 Razorfish DigitalDigital is not only a place to build a brand: it can also make or break it.8

9Truth #8 : Customers want to be Brand Insiders

Truth #9 : The Business Environment has Evolved10Marketing budgets are shrinking and ROI now includes customer loyalty metrics.Your customers are now more fragmented than ever. A lot less trust in Corporations this year.Enterprise 2.0 :Your brand is controlled by your stakeholders who are all part of a social community

Truth #10 : Enterprise Social Media is Trail Blazing in the USinteractive marketing spend will trend up from 12% today to 22% in the next five years. Dollars will shift from traditional marketing and advertising channels into social media, email and mobile marketing1170% Plan to invest in improving their company website functionality within next yearSource : The “2010 Business Website & Internet Usage Survey” – Strategic Vision LLC. (AIS Media)Social Media Marketing : CAGR 34%Forrester Research - “US Interactive Marketing Forecast, 2009 to 2014,”

A quick check list - how critical is Social Media to your businessIs your product sensitive to consumer perception?

How complex is your product, that depends on knowledge and in-depth understanding to purchase?

Are your targeted customers online most of the time?

Are your sales channels online?

Is first mover advantage critical to you?

Are you a multiple product / service business, that up-selling and cross-selling, ie. ARPU contributes significantly to your business?

Are your competitors already on social media?

Do you have a strong fan / advocate base?

Do you plan to expand regionally12The more affirmative answers to this checklist, the more critical social media is to your marketing & corporate communications mix

Defining Social Media13Participatory communications, building communities, P2P communications, word of mouthNetwork-based applications, channels, platforms, communities, user-generated content Democratization of content production & distribution

Make no mistake… the internet is now a media platform14

15but it is a different creature from its mass counterpart

Industrialization & Consumerism invented Advertisements16

Today, the Digital Revolution has changed personal communications17

Yet corporate communications have yet to evolve…18

To compound the problem, in most Asian businesses – ‘FACE’ is of the utmost importance. Apologies are last resorts.19

BUT whether you like it or not, your customers are talking about your brand, products, customer service… with or without your participation20

Yes… the Challenges of Social Media Adoption are RealMeasurementEfficiencyResourcesSource : Social Media for Marketing Survey Results - March Second, Inc. May ‘09

FEAR NOT! The fundamentals remain unchanged…"Over and over again, connecting people with one another is what lasts online. Some folks thought it was about technology, but it's not.“Seth GodinImage: http://www.gapingvoid.com/

Some customers can be real idiots, but if you remain true to your values of transparency and being genuine… you have nothing to fear.23

25Crafting the Social Media Plan and Putting it to Work

Start with the business objectives Define your objectivesDefine the audience you are targetingWhat’s the overall message and media strategyWhat is the social media strategyWhat are the key measurements of successBased on the corporate risk appetite, shape the engagement and campaign accordingly26

Management Support is CriticalGet buy-in and an agreement on the approachDetermine the drivers and stakeholdersDetermine the rules of engagementProvide training, allow feedback and explain implementationMobilize the other cogs in the corporate machinery around your social media effortsPlug the gaps in customer feedback and management decision makingRemember to update the customers on statusShout about implementation or actions takenTime to get the pieces together – customer support, product marketing, product27

“Putting the public back into PR”*Staff empowerment, provide them training and rules of engagementBuild channels that is centered on relations with customers – talk with themSustain conversations between product campaignsConnecting with enthusiastsMaintain your share of voiceWork with bloggers and create a network of influences, brand advocates and fansLeverage on their voicesIt is really ok to say sorry.When complaints are handled well, customer satisfaction and loyalty skyrocket.28Tonality Go for :CollaborationOpennessDialogue Avoid :DominationControlMonologue* Brian Solis

Example of Proactive and Timely Responses - Winning difficult customers over, win fans in the longer run29www.brooksrunning.com

Genuine and timely responses – it’s ok to say Sorry30www.hungrygowhere.com

Evolution of Corporate Web Presence31Brand driven lifestyle websitesCommunity engagement CSR websitesThe Irrelevant Corporate WebsiteGraphic By Jeremiah Owyang (Web Strategy)Dell engages customers for product improvement ideasBrand conversations on popular Social Media Sites

Building & Managing CommunitiesListen to/observe what the target audience is doing in social mediaCreate a “social object” that is relevant to the brand and of genuine interestStart where your brand advocates and fans are the most passionate about Focus on your customer’s needs. Focus on answering the question, “Why would consumers form a community around our brand?”Think like a contributor, not a marketer or sales personFoster many-to-many relationships. People need to interact with each other and not simply “the brand”.Share “insider” information and offer a preview of what new products are being developed.If a company's brand community restricts discussions, unhappy customers will simply go to one of dozens (and for many brands, hundreds) of enthusiast-run communities and vent just as much. The company loses the opportunity to gain insight from customers with potentially valuable criticisms.32

Engaging your brand advocates33Reached out to those who are listening and let them do the talking for you and to connect with people like themselves

Foster peer celebrity. Advocates love it when others recognize their expertise, experiences, and passion.

Let your advocates advocate. The only way to inspire your best advocates is to let them work their magic without interference except in issues of ethics and legality. Your advocates are not pawns—they are your partners, so treat them that way.Social Technographics of UsersSource : Groundswell - Josh Bernoff and Charlene Li

Tell Your Story and let your customers tell theirs…34www.fordvehicles.com/mustang/

Even if it’s just in photos… remember it is all about their passion for your brand and products35http://artofthetrench.com/

Create & Sustain Your Company Blogs"Tell stories" "Don't just re-purpose your standard marketing messages and turn your blog into a marketing vehicle.""People want to develop relationships with the businesses they patronize. The more you can share your stories, the more you give your customers access to the inside and allow them to get to know you.""A blog gives you the opportunity to be more human and less corporate.““Business blogs should have multiple authors, ideally people in different parts of the company, to give a rich, multi-dimensional sense of a company and its brand. "Business blogs shouldn't have a single 'company' voice," "To be compelling, they have to be personal and human.""Before your blog goes live, you want everyone in the company to be on board... Create sample posts; critique each other. Have the legal department get comfortable with it. Don't go live until everyone is ready."36Kasey Kersnowski, Editor, Patagonia.com

37Engage & Connect with your Customers – Multiple TouchpointsSocialize your website with multiple social media touch points – setup & design for company blog, Facebook page, Twitter and widget.

Empower your marketing/PR team to publish regular articles, photos and videos to your company blog, Facebook page, Twitter, company widget and more.

Engage your customers – update them on your latest promotions, sales, company history, product development, etc.

Enable your customers to provide feedback, insights and great ideas/suggestions to improve your service and products

Reach out and grow your brand awareness to international marketsIntegration with Off-line Marketing38

Monitor, Track and ReportWeb AnalyticsGoogle AnalyticsWordpress AnalyticsSocial Media MonitoringCollectaSocial MentionTweeter AnalyticsTweetanalyzerTweeteffectAll-in-one Social Media publishing & Analyticspepperconn Social Media Groupware39

7. You have to invest time and resourcesInvest time and human resource to build consistency, loyaltyUse tools to mitigate the extra loadtechnology is ONLY a means to an end…90% of social media is just showing up. It’s the other half that’s hard40

pepperconn’s Social Media Program Methodology4350% Personal Angles : 50% Product Angles

Meeting OSIM’s Business Objectives through Social Media44

Matching Talents’ Profiles to target Customer Segments Strictly Confidential & Proprietary ©PepperConn LLP 45GladysJanieApril

The Homemaker46Target audience : Tai-Tais, home makers, health & fitness fanatics,

Social Media Program (November)November’s Theme : Staying in ShapeProduct Focus : uKimono48

Content Distribution & Convergence49OSIM BlogPersonal & CorporatePersonal BlogsE-commerce / salesOSIM Blog Article

OSIM corporate website Unique visitors & Traffic increased by 100% in 2 months

Lifestyle Blog Advertorials : Rubbermaid51

52Lifestyle Blog Advertorials : Rubbermaid

Crowdsourcing Ideas : My Starbucks Idea53

DELL Idea Storm54At start of program, 49% of blog posts were negative. Today, overall tonality is 22% negative.

Demystify social media & business benefits 21 apr

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Demystify social media & business benefits 21 apr