Interesting point of view from IBM on how some key trends in Social media can be harnessed for maximum business impact by using the right TOOLs, ensuring the right TALENT and having the perfect ConText. Very useful for Digital Marketing agencies interested in devising and executing Social media Strategies for their clients, CMOs who are interested maximizing business impact thru Social
We’re seeing a lot of evolution in social tools and platforms
Much of this is driven by the latest developments in cloud, mobile and big data
The total market for wearable wireless devices in sports and healthcare will grow to 169.5 million devices in 2017, up from 20.77 million in 2011, a CAGR of 41%.
By 2015, it is expected 1 trillion devices will be connected to the internet.
It is predicted there will be 5.6 billion smartphones by 2019.
Reference links:
https://www.abiresearch.com/press/one-in-every-five-wearable-wireless-devices-set-fo
http://readwrite.com/2010/06/07/ibm-a-world-with-1-trillion-co#awesm=~owlUPNYUudOpCk
http://www.usatoday.com/story/tech/2013/11/11/smartphones-forecast/3496169/
Results of smarter traffic pilot in Dutch city of Eindhoven:
Sensors that detect braking, acceleration and location data in connected cars can help avoid congestion issues
Trial conducted by IBM, NXP and partners
Disparate data from thousands of sensors was managed and analyzed through the IBM SmartCloud Enterprise service
Officials can act in near real-time to notify commuters via mobile app and in-car navigation of dangerous road conditions, accidents or growing traffic density
Reference link:
http://www-03.ibm.com/press/us/en/pressrelease/40212.wss
Retailer C&A Brazil bridging virtual and real world with magic hangers!
Hangers offer real-time fashion feedback.
Reference:
http://mashable.com/2012/05/08/hangers-update-facebook-likes/
Analytics 1.0:
Business intelligence tools put analytics into the hands of LOB managers
Ability to analyze internal data systems
Analytics 2.0:
Transactional data could be augmented with external customer data from web/social and other channels
Big data systems allowed for rapid analysis of large, unstructured datasets
Analytics 3.0:
Cognitive capabilities power next-gen systems of engagement
Personalized customer experience can be delivered through predictions based on large volumes of behavioral data
Pam Moore slide
Align Social to top business goals
IBM Almaden Research shows we are what we Tweet!
Deep psycholinguistic analysis can map our personality traits
Like a fingerprint: each of us is different!
The digital agency Fluid offers guided selling powered by Watson
Solution allows shoppers to find the ideal product through the use of a non-linear, user-driven conversation that provides personalized responses using several data inputs
With this Watson-powered app, the user experience is personal and driven by the choices consumers make, not the ones retailers make
Even though Facebook, Twitter, LinkedIn and the other major social networks receive a lot of hype, niche social networks are thriving!
In the healthcare space, practitioners are more likely to use relevant forums and niche social networks
Strava provides a social network specific to running and biking enthusiasts, allowing users to share their activity via mobile devices
Reference links:
http://www.mediabadger.com/tag/biotech/
Strava for running/biking:
http://www.alexa.com/siteinfo/strava.com
http://www.strava.com/
Social Student is a niche social network for campuses
It allows students to collaborate across the student lifecycle: from researching a school, to learning and support whilst studying and graduation and beyond
Each campus has it’s own network running on the IBM SmartCloud
Reference link:
http://www.socialstudent.com/
Image sharing across social networks is rapidly increasing
This opens up new revenue potential for brands
According to the IBM Holiday Benchmark Dec 2013:
Users that come to a site from Pinterest and go on to purchase have an average order value of $86.83
Meanwhile, brands are continuing to find new ways to leverage these networks: brand adoption for Instagram rose 80% in 2013
Reference links:
http://www.forbes.com/sites/steveolenski/2013/11/04/brand-adoption-of-instagram-up-80-in-one-year/
http://www-03.ibm.com/press/us/en/pressrelease/42661.wss?utm_content=buffer8d8fa&utm_source=buffer&utm_medium=twitter&utm_campaign=Buffer
Pam Moore slide
Think DNA, Not Just Tools
Pam Moore slide
Visual Communication
Business challenge
Swedish shelving and storage company Elfa International wanted to improve its brand recognition as part of a wider strategy to support its ongoing geographical expansion. To achieve this, the company needed a single e-commerce platform that would boost business-to-customer (B2C) sales and support its plans to introduce business-to-business (B2B) functionality in the future.
Building a professional e-commerce platform Before embarking on its rebranding project, Elfa conducted a thorough pre-study to determine its requirements. “We went to a number of solution vendors and asked for demonstrations,” says Anette Alsteryd. “Ultimately, we decided that the total IBM WebSphere Commerce solution offered by Fiwe best suited our requirements for future expansion.”Elfa engaged IBM Premier Business Partner Fiwe to implement its new e-commerce platform, hosted at Elfa’s data centre. The total solution comprises IBM WebSphere Commerce software, with a Tacton Configurator Server web planning application handling pricing structure, and images served from Adobe Scene7 On-Demand.“In order to replace the old content management system, we built a content management plugin, which Elfa then implemented,” says Stefan Collryd, Project Manager at Fiwe. “The plugin enabled the whole site to be developed and easily maintained within WebSphere Commerce.”The new site was launched first in Sweden and later rolled out across seven different European countries. Elfa customers across Europe are now able to plan their own storage solutions online via the company’s web planner.
The planner application provides a 3D configuration model based on the room dimensions that customers enter. Customers can then add and manipulate storage units according to their own specifications.“With our new web planner, customers can choose to design their storage solutions from scratch, either by room type, or using pre-programmed wizards that guide them step-by-step through the design process,” explains Anette Alsteryd. “When their storage plan is finished, customers can either email it to an approved Elfa reseller, or print off the schematic and bring it into an Elfa reseller themselves.The backend of the web application has been designed so that it can be embedded into Elfa’s resellers’ websites. In addition, Elfa has full visibility of the storage solutions its customers design in the web planner.“Thanks to the close co-operation between our IT staff and Fiwe, the implementation of the project went very smoothly,” says Anette Alsteryd. “The solution was delivered according to schedule and on budget, and we were very satisfied with the efficiency of the process.”
Solution
Elfa implemented an e-commerce platform built on IBM® WebSphere® Commerce software. A Tacton Configurator Server web planning application handles pricing structure, and product images are served from Adobe Scene7 On-Demand.
Case Study link: http://www.ibm.com/software/success/cssdb.nsf/cs/STRD-8SBDXM?OpenDocument&Site=corp&ref=crdb
The creation and consumption of video is growing rapidly.
Contrary to what you might think, people are watching more videos now on smartphones than on tablets
YouTube remains a dominant site for video sharing, receiving over a billion active users each month
Reference link:
http://www.businessinsider.com/mobile-video-statistics-and-growth-2013-12
Pam Moore slide - IDC predicts 1.3B mobile workers by 2015
Pam Moore slide
90% of mobile users have device within arms reach 100% of time
We are also seeing an increase in the use of video in the enterprise
For instance, Safeway partners with Qumu to deliver interactive videos to its employees
As a result the workforce is more engaged and productive, and Safeway is seeing an increase in ratings and comments on the video content produced
(Qumu video blogging software integrates with IBM Connections and WebSphere Portal)
Reference link:
https://www.youtube.com/watch?v=aalZ5fSJw7M
As we develop our social strategy, we have to think through what impact this will have on our employees, the organization structure and the skills needed to differentiate ourselves in the market.
Our social influence is becoming a major factor in how we prove our value
A strong personal brand can really help differentiate us in a competitive job market
Klout is just one way in which social influence can be measured, but one that more and more recruiters are turning to.
But how important is social influence?
According to the Edelman Trust Barometer study in 2014, we increasingly trust messages from experts and our peers
Influence is becoming a real currency!
Reference links:
Add klout title
http://www.forbes.com/sites/jeannemeister/2013/01/03/2013-the-year-of-social-hr/
Klout study:
http://www.internetnews.com/webcontent/article.php/3861241/Microsoft-Survey-Online-Reputation-Counts.htm
Source: Cross-tab
Edelman Trust Barometer
http://www.cagedether.com/2014/01/20/once-again-the-edelman-trust-barometer-calls-out-academics-as-key-influencers/
As the importance of inflluence grows, we are becoming increasingly reliant on systems that track and promote inlluence
Dynamic Signal (IBM Business Partner) is just such a solution
Employees can be activated through the sharing of relevant content
And the platform tracks the level of activity and reports back on the influence employees have
Reference link:
http://dynamicsignal.com/
(Numbers from website)
As companies become media houses, organizations increasingly look for digital content and media skills
In the digital age, content is becoming king and so digital content creators are the new kingmakers!
In 2014, $135bn will be spent on digital marketing collateral
CMO’s see custom content as the future of marketing
Content creators need this skillset:
Content Creator:
Mixed media storyteller
Deep understanding of digital content and channels
Ability to activate influencers
Strong analytical focus
Ability to engage and educate teams
Reference link:
http://socialmediatoday.com/brianna5mith/2039861/20-marketing-statistics-will-influence-decisions-2014
IBM Voices aggregates digital content from IBM and employees
All digital content, whether it be text, tweet, image or video is displayed in a fully interactive experience
Reference link:
https://www-304.ibm.com/social/aggregator/voices/voices
Pam Moore slide
The collaborative economy is transforming the way we think about organizations.
People are more social –whether they’re saddled by debt, a younger generation, or just realizing that owning products isn’t as efficient
As a result, there’s a movement towards conscious consumers to get what they need beyond owning it
According to a Shareable Magazine survey, 75% of respondents said they predicted sharing of physical objects and spaces will increase in next 5 years
We looked closely at 30 of the top discussed sharing startups and found that 54% of them had facebook connect, and 74% had social profiles and reputation features, showing how closely tied to the social networking movement.
Reference link:
http://www.slideshare.net/Vocus/15-collaborative-economylong2
oDesk provides a marketplace for the trading of knowledge worker skills
Everything from SEO to freelance writing
New roles are emerging such as that of the Virtual Assistant – fulfilling some of the functions secretaries played in the past
There are currently 5K Virtual Assistants listed on oDesk!
Reference links:
https://www.odesk.com/blog/2013/04/fastest-growing-skills-in-the-oconomy-bright-spots-that-represent-job-opportunities/
https://www.odesk.com/o/profiles/browse/skill/virtual-assistant/
An organization can build market permission based on influence from its ecosystem, particularly leveraging strong customer advocates
Numerous studiies show that leads from recommendations convert at a much higher rate than other leads
Reference links:
http://www.nielsen.com/us/en/newswire/2013/a-multi-mix-media-approach-drives-new-product-awareness.html
http://branderati.com/the-age-of-advocacy-and-influence-26-stats-marketers-should-know/
The IBM Champion Program pulls together over 500 of the strongest customer advocates
The program produces over 33m social impressions annually, providing the kind of recommendations that are hard to replicate through other programs
Pam Moore slide
Customers are increasingly demanding an enhanced omnichannel experience across the customer lifecycle
Forward-looking organizations are creating a role on the board for a strong customer advocate, bridging the traditional CIO/CMO/COO roles
The role demands a strong understanding of both the LOB and role of technology
So let’s look at a leader – who knows their customers and makes relevant and personalized offers.
OCBC put analytics to work to determine what made each customer tick.
By analyzing historic customer data such as number of account visits and identifying certain patterns and significant events, such as significantly large deposits, the bank designed an event-based marketing strategy that focused on a large volume of targeted, customized marketing communications, selling customers on other products and services that might appeal to them and presenting them with enticing offers driven specifically by each customer’s individual behaviors.
The strategy has been wildly successful so far, with a 45 percent increase in overall conversion rates on these communications and 60 percent increase in cross-sales. Will double- and even triple-digit improvements translate into a pole position in the world’s fastest growing economic market? The company is banking on it.
OCBC uses that behavioral data to trigger an automated offer or personal interaction with the customer—for example, an automated travel insurance offer to a customer making a travel visa or luggage transaction or a phone call to a customer making a large deposit. Various campaigns focus on every aspect of the long-term customer lifecycle, from acquisition to onboarding to retention.
OCBC to alert credit card applicants via email and text that their credit card fees have been proactively waived. Such proactive interaction has contributed to an increase in customer satisfaction while reducing call center inquiries.
Reference link:
http://www-01.ibm.com/software/success/cssdb.nsf/CS/STRL-8XDJ69?OpenDocument&Site=corp&cty=en_us
Finally, we will look at context: the importance of placing the right message in the right place at the right time
This is more important than ever as the media available proliferate at unprecedented rates
A Vine video gives you a little over six seconds in which to get your message across
Snapchat communications evaporate once they have been shared
In order to remain relevant, you need to understand these (and other) new media and understand how you can engage your audience across them
Reference links:
http://digiday.com/brands/15-stats-vine-and-instagram-video/
http://techcrunch.com/2013/09/09/snapchat-now-sees-350m-photos-shared-daily-up-from-200m-in-june/
Think of how you can leverage these new communication forms in your organization!
For the dev@Pulse conference here in Vegas, we built a 15 second promo using Instagram Video
IBM Research showed the beauty in manipulating atoms by creating a 1.5min mesmerizing video that has been viewed over 5m times
Reference links:
Vine and Instagram:
http://www.mediabistro.com/alltwitter/instagram-vs-vine_b45279
IBM Video Stats:
YouTube
https://www.youtube.com/watch?v=oSCX78-8-q0
Your customer and clients are now spending more time on social media than ever before
The broadcast model of marketing is giving way to the targeted media model
Your marketing needs to reflect this change in expectation – spray and pray no longer works!
Reference link:
http://blog.junta42.com/2012/02/best-content-marketing-infographics/
MutualMind helps American Airlines track all the media being generated around their brand
A team of social experts creates tailored messages to engage with customers
Pam Moore slide
Mobilizing users to generate content on your behalf helps build trust and authenticity
Gamification and other incentives can be employed to help motivate your most committed users to share their opinions
Gamification can drive up all levels of activity, from commenting to sharing to posting status updates
Reference link:
http://www.gamification.co/wp-content/uploads/2013/03/gigya_infographic.png
Brands that recognize the value of customer recommendations can leverages services like Shopa in order to offer discounts in return for content shared
In addition to the marketing benefits, this also helps generate stronger customer community ties and brand affinity
Reference link:
https://www.shopa.com/
The blog may not get as much of the limelight as other social networks such as Facebook or Twitter, but it still remains a wildly relevant medium
Organizations in the B2B space that have a blog gain 67% more leads than organizations that don’t have any
On mobile devices, popular apps such as Flipboard aggregate content from numerous sources, including blogs
Reference links:
B2B blogs
http://socialmediab2b.com/2012/03/b2b-social-media-leads-infographic/?utm_source=Webbiquity
Flipboard stats
http://techcrunch.com/2013/04/29/flipboard-now-at-56m-users-adding-6m-in-one-month-since-2-0-launch/
Blog networks such as Janet Powers’ Women’s Toolbox and IBM developerWorks continue to see a steady increase in blog traffic
Reference links:
IBM Entrepreneur Week presentation:
http://vshow.on24.com/vshow/EntrepreneurWeek?l=en#exhibits/Online_Bash
Developerworks stat via IBM developerWorks metrics
How do you get started?
When it comes to tools, make sure you keep up to date with the latest developments not just in social, but also in cloud, mobile and big data
In terms of talent, develop plans to build influence across the ecosystem whilst creating a customer-centric organization
Don’t underestimate the importance of context: provide personalized, relevant information when it’s needed
If you want to learn more, come to my book signing of ‘Get Bold’ which goes further into many of the themes discussed here today
Remember you can follow me on Twitter @sandy_carter and subscribe to my blog at www.socialbusinesssandy.com