LSS@Social Media Week: Paul McCrudden Social Media And The Consumer Opportunity
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Social media and the consumer opportunity @crudden Paul McCrudden Local Social Summit @ Social Media Week: The Science of Social Media February 2010
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Transcript of LSS@Social Media Week: Paul McCrudden Social Media And The Consumer Opportunity
Social media and the consumer opportunity @crudden Paul McCrudden
Local Social Summit @ Social Media Week: The Science of Social Media
February 2010
The evolution of social media, growth in mobile
and GPS, and individuals‟ maturing confidence in
their online identity are resulting in new
opportunities for consumers to challenge brands.
Brands need to start identifying how to respond
effectively.
Social media and the consumer opportunity
Brand experience agency
Digital-Physical experiences
Interactive installations
Online experiences
Social media campaigns
Imagination
Eyesponge
Aggregates our
team‟s social media
content
eyesponge.com
We absorb content
We release content
We need to make
sense of our social
media „give and take‟
Real-time
Long-tail
The social sponge
Content and identity
Facebook:
55 million updates per day
We share 3.5 billion pieces of content every week
Over 2.5 billion photos uploaded each month
“Thanks to easy-to-use interfaces and fine-
grained privacy controls, social networks
have been transformed into vast public
spaces where millions of people now feel
comfortable using their real identities online.” The Economist, January 2010
Recorded all the
time and money I
spent as a consumer
Invoiced companies
to pay me for the
time I spent with
them
#sixweeks
#sixweeks
Used Twitter and blog to challenge companies
#sixweeks
Pret A Manger‟s most
effective PR spend of 2009
First time some brands
involved in this space
#sixweeks
Feltron Report 2009
275,000 users
65% increase per month, Jan 2010 (30% Jun 09)
Game scenario against other consumers
Rewards
The power of your data
FourSquare office
Case study: Brand ambassadors
Awareness-raising
campaign to support
product launch
Local & social in 3
German cities
Created multi-channel
Love Ambassadors
551 Flickr photos, 4,774
YouTube views in two
weeks
Case study: Local space
Broadcast Twitter-style update to show environment; users
can also send updates into social media spaces
439 total comments posted in social media sites, with an
estimated total reach of 28,324 people
What friends are for
Never the same network
The new behaviour
How do you make your data work for you?
Value in your data
How do you make your data work for you?
Value in your data
Value in your data
How do you make your data work for you?
Blippy: Money talks
Find the value in your data
“To tell people - friends, acquaintances,
maybe even strangers - a little bit more
about you.” Philip Kaplan, Blippy co-founder on Blippy
I reckon:
You should tell companies more about
you.
Re-Tweets are posted most at Friday 4pm
Personalised social media analytics currently lack
meaning
Some data‟s out there
Aggregate
Aggregate your own social media content and
metrics:
Time
Location
Relationships
Key words
Unlock the value in your social media data & use
it to challenge companies
No site currently aggregates your social media
content effectively
Semantic web will help
@whoever this month has:
Checked in at Apostrophe 8 times
Bought a Superdry jacket
Mentioned me in 2 tweets
How can this relationship bring
near-future tangible value to me?
„Friends‟ as commodities
Deeper marketing segmentation
Cross-industry partnerships
Understand ROI on word of mouth
Measure the quality of influence -
am I more likely to go to
Apostrophe?
How should brands embrace this?
„Decision-making present‟
Compete for consumers‟
near-future attention
“I am doing this next”
Instant, automatic analysis
of real-time consumer data
Real-time and Future-time
Open, two-way real-time
communication for your attention
Location, time and relationship
specific
Multi-faceted rewards: price
discounts, (un)branded content
Cross-sector partnerships
Attention auction
Significant consumer opportunities exist
in the near-future, through unlocking the
power of social media content and the
science within it
What is your Return on Investment?
What is your Return on Attention?
As we continue to evolve with brands in
the social media space, this Return
won‟t just be financial
Your ROA
Thank you
@crudden
Local Social Summit @ Social Media Week: The Science of Social Media
February 2010
