Transcript Weigend_CondeNast_SHA_2011.11.22x

e-business
me-business
we-business:
How the Social Data Revolution
Changes the Way
Consumers Make Decisions
Digital Day China
Shanghai, 22 Nov 2011
Why this revolution?
It addresses the 3 deep needs:
Approval
Belonging
Communication
What is the revolution?
Irreversible shift in
mindset of customers
about who they are,
how they relate,
how they make decisions
e-business
(company focus, Web 1.0)
• Website provides controlled information
• Website possibly allows for transactions
me-business
(user focus, Web 2.0)
• Consumer in the center
• Self-expression, 晒 (shai, show off)
we-business
(community focus, Web 3.0)
• Collective intelligence
• The social consumer
Social
Local
Mobile
USA: Who do Consumers Trust?
• Friends: People who like you
– Offline
– Online
• Peers: People like you
– Similar background
– Similar situation
• Experts
average
|
China:
Credibility
(1-10 scale)
8.5 | Friends and family
8.0 | Internet word of mouth
7.0 | News and authorities
5.3 | Sales person
5.0 | Ads
Source: CIC 2010 Efluencer Survey
Two meanings of “social”
1. Social graph
Who is connected with whom?
2. Social data
Case study: What data for
targeting a new phone product?
Traditional segmentation
• Demographics
• Loyalty
Connection data
•
Who called who?
1.35%
Adoption
rate
4.8x
0.28%
Traditional
segmentation
Connection
data
Amazon.com
Share the Love
Result:
Amazing conversion rates
since customer chooses
Content
(the item)
Context she
(
just bought that item)
Connection
(she asked Amazon to email her friend)
Conversation
(information as excuse for communication)
Two meanings of “social”
1. Social graph
2. Social data
Consumer create and share data
Knowingly and willingly
Purpose of communication:
to transmit information?
Or is information just
an excuse for communication?
Nike+
Customers
- engage
- connect
- 3 times per week on average
Corner / Oversized Rooms:
Rooms Ending in:
04
Oversized, Corner Room, Quiet
Room
24
Oversized, Corner Room with North
Times Square Views (Higher Floors
are Preferred
Rooms to Avoid:
Rooms Ending in:
01, 21
Possible Ice Machine / Elevator Noise
08, 17
Limited View Rooms
Social
Local
Mobile
Local
Absolute: Place, time
•
Individual: Identity, History
•
Aggregate: Insights
Relative: Distance
•
To a business: Advertising
•
Between people: Dating
•
Between devices: Risk
Location History
Google Latitude
Social
Local
Mobile
“SoLoMo”
Mobile
Context, situation
•
Sound
•
Light
Customers interact
•
Tag
•
Scan
Attention
Situation
• Clicks, Transactions
• Geo-location
• Device
Intention
• Search
User generated
• Reviews
Connection
• Social graph
Question:
What is the biggest change
in the last 5, 10 years
you have seen?
Social Data Growth is EXPONENTIAL
The amount of data a person creates
doubles every 1.5 years
•
after five years
 x 10
•
after ten years
 x 100
Data = Digital Air
In the last Minute…
10,000,000 Web searches
Ad requests
Text messages
1,000,000 Facebook posts
100,000 Product searches
Tweets
Fundamental Shift in Communication
One-way

Two-way
Asynchronous

Synchronous
Planning

Interaction
List

Flow
Private

Public
A. Production: Everybody creates data.
B. Distribution: Everybody shares data.
C. Consumption: Everybody uses data.
•
 The study of the consumer has changed
•
 The consumer has changed
Consumer Decision Making
Marketer-generated
Consumer-generated
aware
share
consider
opinion
buy use
Funnel
Megaphone
“Tina Jiang is my go to LV person”
Top 8 Brands (by number of
posts)
Source: The Voice of the Luxury (4.5M posts in CIC luxury panel 2011.Q1)
Category (by number of posts)
Source: The Voice of the Luxury (4.5M posts in CIC luxury panel 2011.Q1)
Topic (number of posts)
Content (by number of posts)
Who Can You Get To Work For You?
100M
Customers
100k
Employees
100
Specialists
Company
Customers
Customer
Product
Brand
Product Culture

Help people make better decisions

Make it trivially easy for them to contribute

Give people an excuse to connect
Note: Products/services that use social data improve over time
Take the test yourself http://socialdatalab.com/intelligence
Data Culture
Do not have
Cannot get
Must not use
 Somewhere already
 Can! User will give
 Embrace it
Be secretive
 Be transparent
Information
asymmetry
 Information
symmetry
Company Culture (“DNA”)
1. Facebook
Designed for contribution and distribution
2. Google
Take whatever you can get
3. Amazon
Customer-centric: Help them make decisions
Ingredients for engagement:
Advertising
Branding
Corporate Communication
Ingredients for engagement:
Approval
Belonging
Communication
Twitter: The Illusion of an Audience?
Two Monologues are not a Dialogue!
1993
“On the Internet, nobody knows you’re a dog”
2011
“On the Internet, everybody knows you’re a dog”
e-business
me-business
we-business
[email protected]
+86 138 1818 3800
www.weigend.com
Dr. Andreas Weigend, Social Data Lab