Social Influence Marketing Trends for 2010

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Social Influence Marketing TrendsJanuary 21, 2010

@shivsingh

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

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@shivsingh http://goingsocialnow.com

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The purpose of a business is to create a customer who creates customers


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Leaving your only job to be taking care of your existing customers

Trust me, that’ll be harder not easier…


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TREND 1: SIM enters the mainstream


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BRAND MARKETING

DIRECT RESPONSE

SOCIALINFLUENCE MARKETING

TREND1


This is a new dimension of marketing and it cannot be ignored anymore. It is not a channel or a tactic

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Dare you practice Social Influence Marketing?

•Allow the community to shape and evolve your brand

•Market to the community and not just the individual

•Use technology to bring you closer to customers, not further

•Let go of your content and the sanctity of your product pages

•Bring in the social graph and not just the customer

TREND1


|@shivsingh http://goingsocialnow.com

Practicing SIM produced measurable business results for Mattel. Revenue increased during the course of the effort


Do you need more of a justification for SIM? Pepsi using social instead of the Super Bowl ads for marketing purposes

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TREND 2: Social influencers drive sales

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It is not just about a platform, yours or anyone else's

TREND2


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72% of internet users say they are exposed to too much advertising

TREND2


Are you doing anything about that?

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CUSTOMER

TREND2

We haven’t know how to reach these people

And these have typically been ignored

These continue to get the most attention


Do you know who your key, social and peer influencers are?


Savvy Auntie is a social influencer for Disney’s customers. They partnered with her in 2009 to reach their target audiences. Who are your Savvy Aunties?

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Here are some others. Are you paying attention to these people? Do you know how to reach them? They matter more than you realize.


TREND2

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TREND 3: Putting people before brands

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By developing

Social Influence Marketing Voices

TREND3


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Brand Voices

• Singular company voice

• Reflects the brand personality

• Everybody follows the brand voice

• Appears in all brand touch points

• Usually unique to the company

• Sometimes manifested in a person

• Used everywhere –signage to ads

SIM Voices

• Multiple, authentic individual voices

• Transparent and googleable

• Engaging and conversational

• Appears where conversations are

• Unique to the person not the company

• Manifested in a real person

• Used only by real people

TREND3


You’ve probably spent a 100 years developing strong brand voices. Now its time to develop strong SIM voices


Once a upon a time Best Buy only advertised like this. The way many other companies continue to advertise


But then it started developing SIM Voices starting with the CMO, Barry Judge and other members of his team


Now they’ve taken their whole brand social – social influence marketing voices are the face of their brand across every channel and platform

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Brand Voice Social Voice Social Brand

TREND3


Where are you on this continuum? Where do you need to be?

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Also remember, you must make your community core

Your Community

Your Brand

TREND3

Your Brand

Your Community


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TREND 4: Every decision becomes social

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3,000,000


That’s the number of tweets a day. But what are they about?


They are about influence. Here’s research from the auto space

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More than 20% of car recommendations by influencers are followed… even for such a personal purchase.

Source: Yahoo! Advocacy Research.

CATEGORY AUTOS CONSUMER ELECTRONICS HOTELS

Recommended their purchase to a friend 67% 83% 59%

At least one friend purchased the recommended brand 14% 21% 15%

Social influencing matters in the car industry


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Connected consumers will tell 20 PEOPLE on average. How many people did you tell about your purchase?

20.3

14.7 11.1

Source: Yahoo! Advocacy Research.

As a new car is a key conversation topic

AUTOS CONSUMERELECTRONICS

HOTELS


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1 IN 10 IS USING SOCIAL NETWORKS OR ONLINE FORUMS TO SHARE INFORMATION ABOUT PRODUCTS THEY LIKE.

Source: Forrester Research

21% OF CONSUMERS ARE LIKELY OR VERY LIKELY TO HAVE ONLINE SOCIAL INTERACTIONS WITH A CAR MANUFACTURER.

ADULTS

With brand conversations increasing online


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The point is you’re never going to buy a car again alone.

You’re influencing and are being influenced everyday


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TREND 5: Measuring it all

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What’s your SIM Score?SIM Score = Conversation Share + Sentiment*

*Adjusted for influence

TREND5


This can be the single brand health metric you use to manage your brand in the social web. Ad Age and Forrester think this is worth looking into.

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Company Share of Voice Net Sentiment SIM ScoreBank of America 31.6% 66% 32

JPMorgan Chase 20.7% 62% 20

Wells Fargo 13.5% 71% 15

Citibank 13.6% 66% 14

Capital One 9.19% 69% 10

Wachovia 11.1% 62% 10

Company Online Share of Voice

Offline Share of Voice

Online Net Sentiment

Offline Net Sentiment

Bank of America 31.6% 33% 66% 66%

Capital One 9.19% 5% 69% 74%

Citibank 13.6% 16% 66% 55%

JPMorgan Chase 20.7% 17% 62% 64%

Wachovia 11.1% 16% 62% 50%

Wells Fargo 13.5% 14% 71% 73%

IDEA 5


You can manage it against real world word of mouth too

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Mutual Funds: SIM Score over three weeks


And track it over time to understand how you’re indexing against competitors

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SIM Score questions to ask yourself

• How does advertising impact the SIM Score?

• How does the SIM Score change during the lifetime of a campaign?

• Can you put a program in place to manage the SIM Score overtime?

• Does the SIM Score adjust appropriately for varying levels of influence?

• How does the SIM Score relate to other business metrics?

• Can the SIM Score serve as a leading indicator for sales?

IDEA 5

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4The final question are you evolving at the pace SIM is?

1Experiments

The nephew tests

2Social Platform Rush for Brands

3 SIM Strategy

Integrated Marketing

4Social Brands

Becoming more human

5Real time Brandswith real time products

6Managing the

Community Model

You’re somewhere on this continuum

And probably need to move into these areas too


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5 Trends for Social Influence Marketing

1. SIM enters the mainstream

2. Social influencers drive sales

3. Putting people before brands

4. Every decision becomes social

5. Measuring it all


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Thank You

Shiv Singhhttp://goingsocialnow.com

twitter.com/shivsingh

Social Influence Marketing Trends for 2010

Business

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