How Leading Brands are Unleashing the Power of Social Media
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Transcript of How Leading Brands are Unleashing the Power of Social Media
Harnessing Influence
How Savvy Brands are Unleashing the
New Power of Blogs and Social Media
February 28, 2008
2
Introducing the Presenter
Jim NailChief Strategy & Marketing Officer
TNS Media Intelligence/Cymfony
3
Influence 2.0TM
Webinar Series
This webinar is the latest in a series of educational webinars with to help
companies harness Influence 2.0TM
• Consumers are openly sharing opinions
and experiences about your product
causing a complex interplay of traditional
and social media
• Cymfony helps brands and companies
understand and manage the people, issues
and trends in this new dynamic of
consumer communication
4
Please submit your questions in the Q&A
area in lower right corner of your Webex
interface
5
How Savvy Brands are Unleashing the Power of Social Media
Consumers are now controlling brands in social media,
but has the business world adapted?
Has the business world figured out how to use blogs,
discussion boards, social networks and video sites?
What roles do social media have in marketing strategy?
TNS asked marketing executives from large companies located in
four countries around the world to discuss the current state and
future direction of social media in their business
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About the Study
71 personal telephone interviews
Senior level marketing executives
United States, Canada, United Kingdom, and France
Conducted in the late 2007
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Integration with TNS Around the World
TNS Media IntelligenceCymfony
TNS Canadian Facts
TNS Media IntelligenceFrance
TNS UK
TNS Global
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Social Media is Not a Passing Fad
Which of the following statements most closely matches your personal point of view on the potential impact social media will have on business?
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Social Media Will Continue to be Important
How significant will social media be for companies five years from now?
Very significant
Some significance
Little significance
56%
39%
0%
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Social Media Will Continue to be Important
Johnson & Johnson
“Social media is just the beginning of a much more significant shift in how people gather and use information. I don’t think this fundamental shift has been fully appreciated.”
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What TNS Says…
Social media has moved beyond a buzzword to become serious topic of planning and evaluation
We are seeing increased coordinated corporate-level strategy
Marketers must learn and adapt to the new characteristics of social media
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It’s Greatest Potential is for Gaining Consumer Insights
For which one of the following objectives does social media offer the greatest potential?
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It’s Greatest Potential is for Gaining Consumer Insights
Suzuki
“You have to listen to your customers and social media is no more than a bulletin board for the voice of the customer. If you don’t listen to your customer, you don’t win.”
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Future Impact is with Gaining Insights and Viral Marketing
Please rate each of the following social media resources or opportunities on their future potential to impact your business.
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Future Impact is with Gaining Insights and Viral Marketing
Abbott Laboratories
“Now you are getting to a point where
audiences are looking for communication
resources that are specific to their interests
so it is harder to reach them traditionally.
You can still connect with them through
social media and viral marketing”
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What Separates Early Adopters from the More Cautious?
We zeroed in on two groups to see the differences in opinions
Wait-and-Sees: “Worth monitoring, but not with significant resources”
Revolutionaries: “Revolutionary opportunity that must be grasped with urgency”
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What TNS Says…
This “listen first” approach is the right way for brands to successfully engage their audiences
Marketers’ first efforts reflect mass marketing approaches
Giving up control to consumers is hard for companies to embrace
“Never Ending Friending” study shows how to approach marketing on social networks
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Most Companies are at the Experimentation Stage
Which of the following statements best describes the stage of development of social media efforts at your company?
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Most Companies are at the Experimentation Stage
Hewlett-Packard
I think that getting a deep understanding of the social media can only be possible through personal experimentation.
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What TNS Says…
The market is divided – early adopters have leapt ahead
Fast followers are expanding experiments
The mainstream who have held back and now experimenting
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Blogger Relations are Key to a Successful Product Launch
How effective do you feel blogs and social media options can be if used as an integral part of the formal launch of a new service or product brand?
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What TNS Says…
Newness gives people a reason to talk about a product
Obtaining direct consumer feedback is the top way social media contributes to success
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Social Media’s Immaturity is a Barrier to Acceptance
What is the greatest barrier to acceptance/implementation of social media in your organization?
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Sr. Management is Holding the “Wait-and-Sees” Back
19%
27%
13%
14%
20%
24%
5%
19%
19%
0%
0%
13%
20%
7% Revolutionaries
Wait-and-Sees
What is the greatest barrier to acceptance/implementation of social media in your organization?
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Social Media’s Immaturity is a Barrier to Acceptance
Hyundai
“I think we need to get the staff to go ahead and actually engage into this new avenue. There has to be an understanding of what to go ahead and act on. That just comes from experience.”
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What TNS Says…
This is a function of market maturity
Many outside US seeing same barriers US had in the past
Other countries will have similar evolution and will reach expansion in 1-2 years
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GlaxoSmithKline
“They’re not doing a very good job at all.
At the moment most agencies still view
social media tools as just another vehicle
for driving their messages.”
Marketing Agencies are Lagging Client Needs
How well are marketing services suppliers helping companies understand and exploit blogs and social networks? What do they need to improve?
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GlaxoSmithKline
“They’re not doing a very good job at all.
At the moment most agencies still view
social media tools as just another vehicle
for driving their messages.”
Marketing Agencies are Lagging Client Needs
How well are marketing services suppliers helping companies understand and exploit blogs and social networks? What do they need to improve?
Suzuki
“The existing marketing partners do not
understand the ins and outs of the social
media space. They can do more harm
than good if they apply old models.”
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GlaxoSmithKline
“They’re not doing a very good job at all.
At the moment most agencies still view
social media tools as just another vehicle
for driving their messages.”
Marketing Agencies are Lagging Client Needs
How well are marketing services suppliers helping companies understand and exploit blogs and social networks? What do they need to improve?
Suzuki
“The existing marketing partners do not
understand the ins and outs of the social
media space. They can do more harm
than good if they apply old models.”
Hewlett-Packard
“I think they are somewhat helping. But they need
to show how social media has helped them further
their own agenda. So if an ad agency comes to
me, I’d ask if they have their own page on a social
network site? Are they posting videos on
YouTube? Do they have their own blog? And how
has it helped them in their own business?”
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What TNS Says…
It is a challenge for agencies to stay on top of the rapid growth and evaluation of many social media tools
They have been slow to change mass marketing models
They must either acquire or organically develop these skills
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Defining an Executive Job Function for Social Media
Head of Social Media
Director of Consumer Generated Media
Head of Online Brand Equity
Consumer Insights Manager
Director of Social Media
Director of Social Media Analysis
Voice of the Customer
Director of Social Networking
Head of Interactive Content
If a company specifically created a senior position to manage the long-term business opportunities afforded by social media, what would be the title of the new position?
Director of Online Customer Relations
Chief Networking Officer
Director of Social Marketing
Chief Relationship Officer
Marketing Director Emerging Media
Chief Media Officer
Social Media Officer
Manager of Online Contact
User Created Content Guru
Suggested Job Titles:
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Defining an Executive Job Function for Social Media
NYC and Company
“The title should have something that speaks to the interactivity, the social networking component, and the content of the editorial pieces. The thing that is important here is that this new media is not one dimensional like a television ad.”
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What TNS Says…
Interesting split between director and chief titles
Unclear if social media is seen as a new discipline requiring a new skillset
Unclear if it should be at the executive level to share knowledge across the organization
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Key Takeaways
1. Revolutionaries understand that listening is a higher priority than
pushing more messages
2. Wait-and-Sees are stuck in mass marketing thinking, they are
viewing this as just another channel
3. Best practices are crucial to the integration of social media
35
Please submit your questions in the Q&A
area in lower right corner of your Webex
interface
36
Keep the Discussion Going
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