Transcript What is social media?

Social Media and Marketing:
EVOLUTION
or
REVOLUTION ?
Media Landscape
Marketing has changed more…..
Source: Internet Advertising Bureau, 2004
Source: Darwin Day Conference, by Google
1. Product Proliferation
Product proliferation and availability means more choice for
the buyer……..
Source: Strike up the Brands. McKinsey & Company, December 2003
Source: Darwin Day Conference, Google
2. Media Proliferation
Today, media is fragmented
• 13,500 radio stations
(4,400 in 1960)
• 17,300 magazine titles
(8,400 in 1960)
• 82.4 TV channels per home
(5.7 in 1960)
And the Web:
• Millions of sites
• Billions of pages
Source: “Left Brain Marketing,” Forrester Research (April 2004);
“The Vanishing Mass Market,” BusinessWeek (July 2004)
Source: Darwin Day Conference, Google
3. Access Proliferation
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Video games
Email
XBox LIVE
Websites
IM
Search
Source: Darwin Day Conference, Google
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Radio
DVD
Ring Tones
TV
Blogs
Magazines
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Satellite Radio
TiVo (Starhub PVR)
Video On-Demand
Newspapers
Podcasting
Cell Phone
Digitization of Media
Reach
New
Old Media
Media
Mass Media
Source: Darwin Day Conference, Google
Niche Media
radical change has occurred in the
“ AWorld
of advertising and marketing ”
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
Consumers are not listening anymore
Interruptive marketing has seen it’s day
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
The Audience
is creating
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
The Audience
is selecting
Time Shift technology
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
The Audience
is changing
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
As a result
“We are immune to advertising. Just forget it. ”
“You want us to pay? We want you to pay attention. ”
“ The Internet became a place where people could talk to other people
without constraint. Without filters or censorship or official sanction —
and perhaps most significantly, without advertising ”
“Don't talk to us as if you've forgotten how to speak. Don't make us feel
small. Remind us to be larger. Get a little of that human touch. ”
Cluetrain Manifesto
Source: http://www.cluetrain.com
Media Scales
Source: http://darmano.typepad.com/logic_emotion/files/logic_emotion.ppt
“
Consumers control the online environment so brands need to think
about facilitating user-created actions, not just user-generated
content." Unlike newspapers and TV where the advertisers are
speaking at consumers, the Internet allows for more back and forth
interaction.
”
Source: http://china.seekingalpha.com/article/30979
The Consumer
Cash
Co-Creators
Control
The birth of
Generation C
Connected
Creativity
Content
Conversation
Consumer 2.0
Community
Creative Class
Channel
Communicate
Consumer Today
Source: http://darmano.typepad.com/logic_emotion/files/logic_emotion.ppt
Consumer Touch Points
Blog Sites
Music Sites
Reads his friend’s
postings
Reads up on
new cd
releases
Movie Sites
Downloads
Songs
Buys tickets
online
Sports Sites
Gets the latest
updates on
favorite teams
Gaming Sites
Looks for
information
about Nascar
games
Checks scores
Google.com
Searches for
“what’s cool”
Source: Darwin Day Conference, Google
Social Media 1.0
Social Media’s Timeline
1971
1979
1984
1988 1991
Email Usenet Listservs IRC
1995
1998 -2004
Personal Web Sites 1st Social
Networking Site
Discussion Groups
Chat
Clasmates.com
Blogs
Podcast
Wikis
2005 and beyond>>
Web 2.0 apps and
User-generated content
take over
Source: http://www.prworks.ca/wp-content/socialmedia.ppt
Growth of social media
What is social media?
Social media describes the online technologies and practices that
people use to share opinions, insights, experiences, and perspectives
with each other (Wikipedia 2007)
They share one or more characteristics
Connectedness
Getting from me to them
“
I post on blogs and BBS because I can
express myself to millions of people at once.
I like the rush, and I feel empowered.
Source: http://china.seekingalpha.com/article/30979
”
“
I believe the bloggers and their ideas.
They are my friends and will tell me the truth, unlike
advertisements.
Source: http://china.seekingalpha.com/article/30979
”
Digital experiences
Design Centred
Content Focus
INTERACTIVITY
Marketers>Experience>Conversation>Relationship>Affinity
Source: http://www.darmano.typepad.com
The “satisfaction effect”
Source: http://www.churchofthecustomer.com
The Evolution
BROADCAST
“We tell you”
Examples: The New York Times, CNN
Publisher/broadcaster
Big media
buys for
display
advertising
$
$
$
Newspaper
Magazines
TV
Passive readers/audience
Source: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
The Evolution
INTERACTIVE
“Tell us what you think of what we tell you”
Examples: nytimes.com, cnn.com
Publisher/broadcaster
Big media buys for
display advertising
in heavily
trafficked site
Smaller, targeted
media buys for
contextual
advertising in
less trafficked
parts of the site
$
$
$
Newspaper
Forums
Magazines
Comments
Web Video
Ratings
$
$
$
$
Passive readers/audience
Source: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
The Evolution
Social Media
“Tell each other”
Examples: Wikipedia, Slashdot, Ohmynews
Collaborative
Publications
Revenue Share
Pay for less
Smaller,
targeted
media buys
for
contextual
advertising
$
$
$
$
$
$
$
Passive readers/audience
Source: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
Co-creators
“
Engagement is all about
making it relevant to the consumer.
”
James Speros, Chief marketing officer, Ernst & Young
“
People read particular magazines because of
the life stages and events which currently
involve them: from teenager to golfer, from
having a baby to coping with retirement.
”
Source: Henley Centre, Delivering Engagement 2004
“
The editorial/reader relationship is a one-to-one
conversation, and in time it creates a bond of
trust, of belief, expectation and empathy. It is
through the quality of this relationship that an
aperture or opening to the reader’s mind and
heart is created, through which we advertisers
can establish communication.
”
Advertiser with Readers’ Digest
The new paradigm
Attention
Engagement
Different levels of engagement
Belonging
Having sense of shared values
and common experience,
Identification
Most basic level of
engagement
Source: The Henley Centre/ Redwood 2003
Commitment
People who are passionate
enough to devote lot of time
and/ or money
FAITH
TRUST
I Believe
ME
Summary
a) Media Landscape:
- Advertising Environment
- Marketing Environment
- Long Tail
b) The Consumer:
- Generation C
- Consumer Today
- Consumer Touch Points
c) Social Media:
- Timeline
- Social Media Trend
- Social Media
- Word of Mouth
- Digital Experiences
d) Engagement
- Trust
Area of Research
Methodology
Social Media
Content Analysis
Discourse Analysis
Interviews
Case Study
Why am I interested?
 Hype
 Understanding, turning it to a power tool
 Future of Advertising
Research Questions
(1) How can the effectiveness of the advertising budget in traditional media be held
accountable?
(2) What tools can be developed to assess the expenditure of monies in the new digital media?
(3) How can the effectiveness of internet creative messages be evaluated empirically?
(4) What elements are necessary for online media planning to be successful?
(5) How can interactive and traditional advertising agencies get together to do better work in
the future?
(6) How can the outcomes of traditional consumer behavior research be applied in the new
digital world?
(7) What non-traditional methodologies might be useful in addressing the concerns of the new
digital world?
Thank You
This is a standalone presentation!
This is social media!