Thoughts On The Future Of Social Media

Brian Cavoli [email_address] 508-725-5451

What we really need is a mind-set shift, a mind-set shift that will make us relevant to today's consumers, a mind-set shift from 'telling and selling' to building relationships - P&G’s CMO Jim Stengle “ ” Forces Driving the Evolution of Social Media in 2009 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Consumer Participation Continues to Increase ,[object Object],[object Object],[object Object],[object Object],Growth in the Use of Social Networks The share of adult internet users with a social network profile has more than quadrupled in the past 4 years – from 8% in 2005 to 35% today. (Source: Pew Internet)

Lifestreaming Drives People to Expand Their Networks and Sharing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object], Top Sites for Sharing "What are you doing now?"

Discussions About Brands and Product Recommendations Will Grow ,[object Object],[object Object],[object Object],[object Object],[object Object],Influence of Word of Mouth Americans engage in 125 conversations a week about products and services Word of mouth has twice the influence of advertising, direct mail or press coverage on purchase decisions (Source: Keller Fay)

Companies Have More Opportunities to Participate & Cultivate ,[object Object],[object Object],[object Object],[object Object],(Source: Forrester Research) Strategic Shifts for the Connected Marketer of the Future From To Making Messages Nurturing Conversations Delivering Push Creating Pull Interactions Orchestrating Campaigns Facilitating Conversations Start by connecting with communities Become integral part of the community

With More Conversation, Brands Need to Be Creative to Break Through ,[object Object],[object Object],[object Object],[object Object],Six Drives of Brand Credibility (Source: “Satisfied Customers Tell Three Friends, Angry Customers Tell 3000”)

Monitoring Makes Market Research More Accessible, Real-time and Less Costly ,[object Object],Observational Participants unaware of research presence Unmoderated Real emotion, discussed without restraints Continuous Fill the gaps between focus groups Unaided Consumer use their own slang and descriptive language Real-time Commentary occurs as events unfold Less Costly Available at a fraction of the cost of traditional methods

Getting Serious About Measurement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Site visits, time spent, page views, click rates, etc Inquiries, sales, quantity of reviews, posts, comments Sentiment, consumer opinions Satisfaction, ratings, affinity, viral content, high profile posts (Source: Forrester Research) The Evolution of Measurement Metrics Involvement Interaction Intimacy Influence

Community Building Becomes a Business Decision ,[object Object],[object Object],[object Object],[object Object],[object Object],Business Results from Companies with Best-in-Class Social Media Practices (Source: Aberdeen Group)

Importance of a Coordinated Communications Nerve Center ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Thank You ,[object Object],[object Object],[object Object],[object Object],Brian Cavoli [email_address] 508-725-5451

Thoughts On The Future Of Social Media

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Thoughts On The Future Of Social Media