Coffee and a Chat with Joanne Jacobs

Or, The Business Case for Transmedia

Joanne JacobsCOO, 1000heads | @joannejacobs

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Session Promise

To discuss the perception of transmedia by the business worldTo acknowledge the role of recommendations in shaping marketingTo show how social channels can be used to assist all aspects of businessTo identify new ROI metrics for transmedia strategies

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Transmedia in business

Leaving aside the fact that no-one in business uses the term ‘transmedia’…

Business doesn’t yet understand how to make use of multiplatform experiences

Multiplatform or 2 screen experiences often (wrongly) considered as merely ‘another marketing channel’

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Inhibitors to success

Difficult for traditional media people to drop broadcast mentality

Difficult for marketers to resist controlling messages

Difficult for business to grasp that sales is not the only way to optimise business and generate profit.

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Social media

You don’t make money from social media.

You save money with social media.

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Value – some definitions

Value: benefit from a good/serviceUtility: aggregate sum of satisfaction or benefit that an individual gains from consuming a given amount of goods/servicesPrice: market rate at which goods/services are exchangedEconomic cost: amount paid for a good/service when compared with alternatives. This includes total, variable, fixed, marginal and opportunity costs.

ROI is based on economic costs, not value or utility.

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Social media saves money

ROI of social media is drawn from

opportunity costs –cost to business of

failing to adopt next best option

and from variable costs – expenses that change in

proportion to the activity of a business

So….

Businesses adopt social media because it’s what competitors are doing.

And….

Businesses adopt social because it’s cheaper market research/product development/supply chain management than existing processes

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Business optimisation

The ROI of transmedia is in business optimisation.

The ROI of transmedia among users is quality of information and participation.

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Why Social Media Exists

Decline in trust of corporate sources

Need for specialised information

Understanding that expertise is located around passionate individuals, not necessarily around paid endorsers

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Trust

Trust is generated through

ahistory of voluntary

contributions of useful, reliable

information

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Stories as Sources of Trust

Most valued contributions of information come from people you know

Stories of experiences are the most likely vector of such information

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Influencers

People near youPeople you respect

Both develop a history of

interactions based on trust

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Social Media and Influencers

Influencers tend to have robust history of interactions in social channels

Tend to share useful content created by others, not just themselves

Tend to respond quickly and in an appropriate manner for the social channel

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Social Media Characteristics

Facebook: social channel, closed network

Twitter: short lived channel, good for abbreviated knowledge sharing

LinkedIn: professional knowledge exchange, good for Q&A, group organisation

Google+: good for hangouts and collective problem solving

Pinterest: good for visual stories, ‘ideation’

Path: good for mobile/dispersed users sharing content

Niche networks: better for diverse information exchanges and multiple learning styles

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Finding Influencers

Influence measurement toolsResearch on activity and expertiseAsk group members who they respect and consider an expert

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Influence measurement tools

• Klout measures:– Frequency and 'value' of interactions across

a range of network

• Peer Index measures:– Engagements over time in subject areas and

based on feedback/conversations

• PeopleBrowsr measures:– Activity as well as more traditional

achievement oriented measures (qualifications, community appeal) and sets this in terms of audience reach

Activity not a useful measure of actual influence.

Measurement of Learning

NOT hit rates

NOT number of engagements

Change in organisational practice

Speed of response to issues

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Delivery on Session Promises

Identified how social media platforms and processes support different learning styles (fast

learning, slow learning, collaborative, communicative, etc)

Demonstrated the role of stories and trust in facilitating learning through social media

Shown how influencers can be used as both a channel and a location for learning

Described the role of new intermediaries for organisational learning

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Joanne JacobsChief Operating Officer, 1000headsp: +61 2 9809 8966 m: +61 2 419 131 077e: joanne.jacobs@1000heads.comt: @joannejacobs

Questions

Unless otherwise specified, all images used in this presentation are Creative Commons under an attribution licence. All sources are identified.