11. Social media is a dirty word and small … Global media industry $600 billion industry Digital Media $90 billion industry Social Media $14 billion industry Global internet industry $ 1 trillion annually annually It cheapens the value of how it can benefit your business
12. The real Wikibrands challenge… Global education industry $ 2 trillion annually Global IT and Communications $ 2.6 trillion annually Global health care industry $ 4 trillion annually Global energy industry $ 6 trillion annually Global banking industry $ 7 trillion annually How do we reinvent some of these industries?
15. A premium brand is now a mark of participation “Something you Trust” “Something you Want” “Something you Buy” “Something you Participate In” “Something you Prefer” “Something you Love” 15
16. You can either be a monopoly (lucky), commodity (tough) or a wikibrand The big question – how do you do it? Easy for them. Not so easy for the 82% of us who work in/with firms with 20+ employees…
27. Our Humble Contribution Published by McGraw-Hill (Jan 2011 Launch) Twitter: @wikibrands Facebookpage: Wikibrands Website: www.Wiki-Brands.com ¼ Wake up Call ¼ Strategy Guide ¼ Executional Road Map ¼ Continuing Reference
28. The Early Buzz is Good Richard Florida, Best Selling Author, “A must read for business leaders” Don Tapscott, Digital pioneer and author, Wikinomics “This is an important, perhaps seminal book” Mathew Ingram, Globe & Mail and GigaOm “Wikibrands is required reading for anyone who wants to thrive in the new landscape”
33. Reason #1 – Authentic Relationship Desired #1 The Need for Authenticity and Transparency - 42% #2 The rise of social networks - 38% #3 Increasing role of wireless/mobile - 35% #4 Customers/people waning attention spans - 25% #5 Media fragmentation - 22% #6 Change in mass marketing effectiveness - 20% Agent Wildfire -The Buzz Report, April 2010
34. Reason #2 – The World is Connected and Engaged 1.3 Billion Social Networkers Globally Facebook - 600 million, 130 friends each, 1,000+ fans per page Wikipedia – 265 million readers. 17 million articles Twitter – 170 million, 190 followers each (after 2 yrs) LinkedIn – 101 million, 61 friends each, 189 index on post-grad YouTube - 18 million Canadians watch/292 minutes per month Flickr – 40 million members/5.0 billion photos Foursquare – 6 million/381 million checkins Amazon – 650 million users annually, $24 billion sales GroupOn – 35 million users annually, $500 milion sales Quora – 600,000 registered users - Spending 82% more time on social networks than they did last year
35. Reason #3 – Conversations are Elsewhere Shifting Conversations – just four years ago, 80% of online engagement happened on the originating website, now 80% happens away from the originating website. Now, to be noticed and talked about, you need to reach “out there” to be relevant. Source: Hubspot , 2007-2010 study
36. Reason #4 - It has to…what’s left… Operational efficiencies are maxed Downsizing/rightsizing reaching limits Outsourcing labour is tapped Globalization of markets is done Media clutter is here Technology is ubiquitous The Customer Experience is What’s Left
37. Reason #4 – Plus it’s what your CEO cares about (or should care about) C-Suite Interest – The CEO's #2 and #3 priorities are customer service and experience; Advertising and promotion rank #12 and #14. Source: Microsoft Roundtable Study
38. Reason #5 - Social, Participation, Engagement, Collaboration, Influence, Community = Smart Business
39. “Social” is not media, tools or technology, this is about success in business: Engaged brands drive value +18% Non-engaged brands decrease in value -6% Source: Interbrand 2009 Best Global Brand s report
40. Reason #6 – Our Customers are Currently Better at It… 78% don't have an employee policy for use of social media, more than ½ don’t have a strategy 71% of marketers are less/only equally familiar with the use of social media tools than their customers. 82% of executives believe their agencies need to radically transform themselves to adapt more competitively to this wikibrand world. Source: Commotion Study/Buzz Report
67. Implementation Issue – Lip Service > Action The biggest obstacles that continue to exist in implementing wikibrands in your company/clients? 1. Inability to measure 40% 2. Lack of budgets 31% 3. No accepted standards/benchmarks 29% 4. Fear of loss of control 29% 5. Inability for culture to accept 25% 6. Technical skills/expertise not in place 23% 7. Do not understand diff. bet. Mass marketing 21% Source: Agent Wildfire Buzz Report 2010
68. #2 FOCUS – “Why are we doing this/what are we doing?”
80. Don’t be fooled, people want social brands…they just don’t want pushy marketers - 85% of people want companies engaging with their customers in social media - 56% of people feel a stronger connection with those companies they interact with in social media - Twitterers are three times more likely to embrace brands than average population
85. Mill Street Brewery – February 7th Launch Published by McGraw-Hill (Jan, 2011) Twitter: @wikibrands Facebookpage and 6 other social extensions Become an ambassador Contact us: smoffitt@agentwildfire.com