ADPI / ABI Annual Conference

ADPI / ABI Annual Conference:Social Media’s Transformative Effect On Your Market Strategy

Chad Mitchell

Principal Analyst, Marketing & Strategy

Forrester Research

April 27, 2010


Social media will impact

your business with or without you – get started

and join the conversations.


Agenda

• What is the Groundswell?

• Why does it matter for your business?

• How you can harness it?


Agenda





No more shouting gentlemen


The Groundswell empowers people

The Groundswell is…

►A social trend in which

people use technologies to

get the things they need

from each other, rather

than from traditional

institutions like corporations


This is your company…


…these are your customers, employees and partners in the groundswell


This is your company and its customers, employees and partners in the groundswell


“…are you listening to us?

“We’re talking about you…”


Agenda





Customers, employees and partners are using social media to make decisions

about your company?

Customers, employees and partners are using social media to make decisions

about your company?


3 billion3 billion3 billion3 billion

181 million181 million181 million181 million

>65 million>65 million>65 million>65 million

400 million400 million400 million400 million35 million35 million35 million35 million

…and the numbers are staggering


Social Technographics® of US online adults

Source: January 15, 2010, “Introducing The New Social Technographics®” Forrester report

Creators - 13%Conversationalists - 33%

Critics - 19%

Collectors - 15%

Joiners - 19%

Spectators -33%

Inactives - 52%

Creators - 24%

Critics - 37%

Collectors - 20%

Joiners - 59%

Spectators -70%

Inactives -17%

83%


Word-of-Mouth + Trust = Social Media

*Trust is defined as a 4 or 5 on a scale from 1 [do not trust at all] to 5 [trust a lot].

“How much do you trust* the following information sources?”

32%

37%

39%

39%

41%

42%

43%

49%

50%

74%

TV

Radio

Print magazines

Social networking profile from someone you know

Portals

Blogs written by someone you know

Print newspapers

The Yellow Pages

Customer ratings and reviews

Email from someone you know

Source: North American Technographics® Interactive Marketing Online Survey, Q2 2009 (US)

Base: US online adults


One out of four online adults expects you to be listening

“Which of the following describes how you expect companies to use social tools like blogs, discussion forums, and social networking sites?”

Base: 4,455 US online adults

Source: North American Consumer Technographics® Interactive Marketing Online Survey, Q2 2009


Social media isn’t just for marketers


You may face challenges.


A lot of social content will come unsolicited


But with every challenge

comes opportunity.


Social media gives you the opportunity to listen and be

part of the dialogue.


And you never know what you might come across.


You may even bump into some friends along the way.


Agenda





Develop your groundswell strategy in four steps

P

O

S

T

PeopleAssess your customers’, employees’ and partners’

social activities.

ObjectivesDecide what you want to accomplish.

StrategyPlan for how relationships with customers, employees and partners will change.

TechnologyDecide which social technologies to use.


Objectives – focus across the company

Role Groundswell objectives

Research Listening

Marketing Talking

Sales Energizing

Service Supporting

R&D Embracing


www.forrester.com/groundswell


Listening

Learning from whatyour customers aresaying


Listening to dog owners (Del Monte)


A conversation with customers

Del Monte: What does your dog eat for

breakfast?

George: . . . she would definitely want

bacon and eggs and she would want

ketchup on her eggs. She loves

ketchup!!!

Del Monte: Would you buy more treats

if they had vitamins and minerals as

ingredients?”

George: I would buy healthier treats

over ones that didn’t have vitamins

and minerals. . . . I try to look for amino

acids and omega 3 and fish oils.


The result: a successful product launch


Talking

Two-way conversation,not just shouting


Hyatt Concierge personalizes an experience through conversations


Ernst & Young listens and responds on Facebook


Energizing

Helping your best customersto recruit others


Gen X customers talk for Commonwealth Credit Union


American Family Uses Facebook For Agent Development and Recruitment


Use tools such as Digg and Technorati to find top influencers

Source: Digg


Reward enthusiasts and advocates

Every successful

community has its own form of “kudos”


Supporting

Enablingyour customersto supporteach other


Cleveland Clinic helps doctors and researchers connect


Embracing

Involving customers in your product development


Engaging enthusiasts can happen across owned and connected sites


Loblaw turns reviews into innovation


Useful tools make consumers more loyal


Strategy

• Objectives are the key to a successful social strategy

• Analyze your people and objectives before deciding

on strategy and technologies

• Listening, talking, energizing, supporting, embracing

– all are possible, but pick one


Technology – Key sites and tools

• Social Networking Sites

– Facebook, largest and fasted growing, used for communication

– LinkedIn, for professional networking, recruiting

– MySpace, large legacy, popular for music and entertainment

– SERMO – Doctor only social networking site

• Micro-Blogging Platforms

– Twitter, quickly growing in popularity, allows for immediate one-to-many communication

– Yammer, small but robust platform that allows twitter-like communication within a single company or group

• Community Platforms

– General community vendors include Telligent, Jive, Pluck, Awareness

– Listening community vendors include Communispace and Passenger

• Blogs

– Vendors include WordPress, Moveable Type, KickAps, Pluck

• Collector sites

– Technorati, digg, summarize.com


Technology for Listening

• Free tools

– Google analytics (blog search)

– Twitter

– Yacktrack

– Socialmention.com

• Technology platforms

– Techrigy

– Radian6

– Sysomos

• Technology and Service offerings

– Nielsen

– TNS

– JDPower


What it means

• The Groundswell values what businesses do best—

intimacy, attentiveness and knowing what your

customers want

• By embracing social technology tools you can reach

more potential customers without losing your identify

or changing the way you do business

• The Groundswell is here to stay so get out ahead

and connect to your customers the way they connect

to each other


Getting started - Earn your social media merit badge1. Register @ Facebook – search for your firm

2. Register @ Twitter – post one tweet

3. Register @ LinkedIn – create a profile for your firm

4. Visit www.yelp.com – do one search on your firm

5. Visit www.digg.com – do one search on your firm


Chad Mitchell

+1 617.613.8847

[email protected]

www.forrester.com

@mitchellmktg

Thank You

ADPI / ABI Annual Conference

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