Open Brands: How Social Media is Pushing Radical Transparency on Brand Management by @JoeyShepp of @Earthsite
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Learn how Social Media is pushing radical transparency in brand management. Includes new research on Social Media Policy and calculating Social Media ROI. Social Media case studies of The North Face and Drugstore.com.
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Open Brands: How Social Media is Pushing Radical Transparency on Brand Management by @JoeyShepp of @Earthsite
- 1. OPEN BRANDS How Social Media is Pushing Radical Transparency in Brand Management JoeyShepp.com
- 2. LINKSHARE SYMPOSIUM WEST Keynote Session January 28th, 2009
- 3. ABOUT THE PRESENTER Joey Shepp • Principal at Earthsite New Media for Sustainable Brands • Professional Speaker on the topics of New Media and Sustainable Business. • More at http://www.JoeyShepp.com
- 4. SO, WHO CONTROLS A BRAND?
- 7. WHAT DO PEOPLE TRUST? • 25% trust advertising • 56% trust media editorial • 81% trust word of mouth Source: Ross Dawson, 2009 http://bit.ly/Dtn7S
- 8. FOUR OUT OF FIVE NEW MEDIA USERS interact with companies and brands online source
- 9. WOMEN RULE THE SOCIAL WEB Gender Balance In Major Social Networks
- 10. POWER SHIFT
- 11. SOCIAL MEDIA IS A DISRUPTIVE TECHNOLOGY Old School New School Top Down Bottom Up Closed Open Advertisement Conversation Print Media Digital Media One to Many Many to Many Privacy Transparency
- 12. AN OPEN WORLD Open Open Open Open Culture Government Software Brands
- 13. FULL DISCLOSURE What you need to know as a Brand Manager
- 14. UPDATED FTC ENDORSEMENT GUIDELINES • Revisions to 30 year old guides • Section 5 of the FTC Act, which broadly prohibits"unfair and deceptive acts or practices in commerce". • Guides don't have the force of law, they don't carry penalties. However, FTC could place a lawsuit against company which could result in fines. • Medium doesn't matter as long as it's a form of marketing ie) Twitter, Facebook, blogs, email • It calls for disclosures of brand ambassadors (who’s paid to represent your brand) • Company should have a policy for how they manage social media
- 15. AFFILIATE MARKETING • Are you getting a commission? Disclose it. broad disclosure • Is sufficient? Shouldn't have to look for it. Should be easy to find.
- 17. BOTTOM LINE • Does the audience understand relationship between publisher and the advertiser? • If it's not clear from the context, publisher should disclose connection to the advertiser. • Transparency is key!
- 19. SOCIAL MEDIA POLICY BEST PRACTICES • Should function as an informal guide, in which there is room for interpretation and discussion with employees • Actively train and educate employees • Assign the role of Community Manager which employees can go to if they don’t know what to do • Make it available to the public
- 20. KEEP IT SIMPLE "The more restrictions that you place on employees, the less room you give them to be a real asset to your online reputation." "The benefits of having your employees engaging in social media far outweigh the dangers of them saying something that they shouldn't," Andy Beal, Author of the book Radically Transparent.
- 21. ZAPPOS SOCIAL MEDIA POLICY "Be real and use your best judgment."
- 22. INTEL SOCIAL MEDIA GUIDELINES • Be transparent. • Be judicious. • Write what you know. • Perception is reality. • It's a conversation. • Are you adding value? • Your Responsibility • Create some excitement. • Be a Leader. • Did you screw up? • If it gives you pause, pause.
- 24. MORE SOCIAL MEDIA POLICIES SocialMediaGovernance.com
- 26. BENEFITS OF BEING OPEN • Build trusting customers • Avoid FTC Lawsuits • Engage your employees/customers • Innovation from customer feedback • Quicker response to concerns • Call out competitors
- 28. COMMON PROBLEMS WITH SOCIAL MEDIA • Experimental • Not Budgeted For • Difficult to Measure • Low Performance (?)
- 29. WHO MEASURES ROI ANYWAY?
- 30. CHIEF MARKETING OFFICERS REPORT ROI ON SOCIAL MEDIA
- 31. WHAT’S YOUR GOAL? • Sales • Leadgeneration • Registrations • Conversion • Referrals • Reduced sale cycles • Links (Traffic) • Votes • Reduction in costs and processes • Decrease in customer issues
- 32. 2009 SOCIAL MEDIA METRICS 89% of CMOs tracked the impact of social media by traffic, page views, and the size of their social graph or communities. Source: Brian Solas, Mashable
- 33. 2010 FORECAST IN SOCIAL MEDIA METRICS • 333%surge in tracking revenue • 174%escalation in monitoring conversions • 150% increase in measuring average order value Source: Brian Solas, Mashable
- 34. SOCIAL MEDIA METRICS APPROACH • Focus on Interactions • Target Influencers • Measure Before and After • Accumulate Social Capital
- 35. NEW MEASUREMENTS Advertisement Conversation Paid Per View Free / Sharing Page View Social Action One Time Accumulates
- 36. ROI CAN BE MEASURED Dell’s global reach on Twitter has resulted in more than $6.5 million in revenue
- 37. CASE STUDIES Opening up to Social Media
- 38. THE NORTH FACE Social Media Case Study
- 39. NORTH FACE FEB. 2009 • Nonexistent social media strategy was an utter-flop for the brand • Communicated every-so-often • Rarely responded to fans/followers, • 8627 Facebook Fans and 1087 Twitter Followers • Led to blog article: 'Social Media Smackdown: Mtn Hardwear vs. The North Face
- 40. NORTH FACE TODAY 12 months later • 150,000 Facebook Fans • 10,000 Twitter Followers What did they do?
- 41. FACEBOOK PAGE Small Changes, Big Results • Changed landing page strategy, FBML blocks • Encouraged Athletes to post • Huge Growth in Fans
- 42. TWITTER PAGE Dedicated Strategy • Content Manager • 3-5 posts per day • Notrepeating Facebook Content
- 43. NEVERSTOPEXPLORING.COM Leveraging Influencers • Branded Content • Athlete Contributors
- 44. PLANETEXPLORE.COM Branded Community
- 45. NORTH FACE ON SOCIAL MEDIA • Toqualify as social media the experience must: • Allow users to share, participate, connect or contribute in a way that facilitates conversation or contributes to shared content.
- 46. DRUGSTORE.COM Social Media Case Study
- 47. KEEP IT SIMPLE March Madness • Multiple polls going • Different links to different landing pages • No cohesive agent bringing them all together • 700 total votes • Failure in ROI, but success in learning lesson.
- 48. FACEBOOK PAGE
- 49. DEAL OF THE WEEK Facebook Page • Weekly Deal offering • Mimic and Test
- 50. BELIEF IN SOCIAL MEDIA • Panel/Internal Teams: Marketing, Customer Care, Legal, HR, Merchandising, Creative, and Finance • It's not just for Marketing: Customer Care use • Strategy: Proactive, reactive, and adaptive
- 51. MOONFRUIT
- 52. CAMPAIGN RESULTS • 200 blogs and articles written • 500,000 tweets, 3000+ images, and 500+ videos • New subscriptions increased by 20% during the summer
- 53. GO FURTHER Resources
- 54. FOLLOW ME ON @joeyshepp @earthsite @openbrands
- 55. TWEET YOUR QUESTIONS @JoeyShepp YOUR QUESTION #LSW2010
- 56. This work is licensed under the Creative Commons Attribution-Noncommercial- Share Alike 3.0 United States License. To view a copy of this license, visit http://creativecommons.org/ licenses/by-nc-sa/3.0/us/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.