Business Model Canvas (BMC)- A new venture concept
Social media: making it work for brands
1. Social media:
Making it work for brands
Ann Longley, Digital Strategy Director, 22 June 2009
2. Dynamics Topics for today
Case studies
MEC’s approach
3. Dynamics
Case studies
Digital age dynamics
MEC’s approach
4. Dynamics
Social media is making a big impact
“Twitter will change the way we Live”, Time Magazine, 2009
5. Dynamics
but what do we mean by social media?
Social media is a very broad term.
It refers to all those online activities,
tools, platforms and practices that allow
users to collaborate, create and share
thoughts, knowledge, opinions and
content.
It is both what people do online, and the
environments in which they do it.
As in the „real‟ world, the social web has
its own culture and norms although
these may vary from place to place.It is
an evolving landscape in a continuous
state of flux.
MEC Guide to Social Media
6. Dynamics
and what does it mean for our customers?
Better
Informed
Better
connected
Change image More in
control
More
fragmented
More
expressive
25. Keys to success
Empowered consumers want to interact with brands
Empowered consumers want to interact with brands
1. Better informed
2. Better networked
1. Content }
markets as conversations
3. Better connected
2. Communities }
= conversion
3. Conversations
Clients uncertain about the best way to spend their digital budgets as well as
how to operate in this new marketing environment.
31. MEC
Approach
Advertising is fighting back
New social ad formats are Social media integration on
emerging and off domain
32. MEC
Approach
Marketing has changed
Complexity lies at the centre of the marketing funnel
Peer Competitive
reviews alternatives
The traditional marketing funnel
Buyers
Eyeballs
Eyeballs Buyers
Contributors
User-generated
Recommendations
content
from friends
Old New
33. MEC
Approach
Earned media is now the most influential
Paid Owned Earned
Source: COMPOSE 2008
34. MEC
Approach
What matters now is Whuffie
In a post scarcity economy, social capital rules.
35. MEC
Approach
Reputation 2.0
Strength of
network/
fanbase
Responsive-
Leadership REPUTATION
ness
Product and
service
innovation
36. MEC
Approach
Social media is here to stay
Brands hiring in-house community managers:
Source: http://www.web-strategist.com/blog/2008/06/20/list-of-social-computing-strategists-and-community-managers-for-large-corporations-2008/
37. MEC
Approach
New world calls for a new approach
Plan
Listen Strategy Act
Evaluate
We use social media as a starting point for active engagement
38. MEC
Approach
helping brands become more
customer centric
Promote and
Respond
Engage with
content and
experiences
Gain audience
insight
39. MEC
Approach
The benefits of paying attention
Here are just a few:
Manage risks Improve service
Evaluate campaigns Identify new ambassadors
40. MEC
Approach
New metrics for the
conversational marketplace
Influence Engagement
Share of influence Views/downloads
Share of buzz Fans or friends
SEO ranking Participation
Referral Intimacy
Send to friends
Loyalty
Posts/ embedding
Repeat visits
on own pages
Length of time spent
Social bookmarking
Comments
Problems solved
41. MEC
Approach
MEC case studies
Benchmark study
• Worked with baby food FMCG to understand brand perceptions and parent requirements to
develop more responsive communications
• Defined scenarios for providing live chat and other services in the environments where mums
are connecting
• Regular dips to assess impact and gain further insight
Daily, monthly and weekly reporting
• Provide daily reports to a service industry client to help them solve client problems when and
where they happen
• Weekly reports track campaign buzz alongside other brand tracking metrics
• Monthly report enables more in depth analysis and issue focus as well as competitor
benchmarking
Tactical projects
• Work with a luxury brand who does not use social media to engage but wants to understand
stakeholder perceptions on a number of ad hoc studies
• Buzz research used to understand feedback on a TV programme critical of the client’s
products , to assess the impact of product withdrawal from a key retailer and to see if people
loved their new celebrity ambassador
42. Summing it all up
Benefits Don’t let it pass Become talked Think beyond
outweigh risks you by about advertising