What's the value of an idea in the era of Social MEdia

1. WHAT’S THE
VALUE OF AN
IDEA IN THE
ERA OF SOCIAL
MEDIA?
2010 - Laurent François
http://twitter.com/lilzeon

2. About me
Head of Marketing & Development @Express Roularta Services
(2010-now)
Head of 360° Digital Influence practice @ Ogilvy (until 2010)
Blogger & cofounder of Tout Ca Magazine (http://citizenl.net &
http://www.tout-ca.com )
ESCP Europe (MEB)
Sciences Po
UCLA
to get in touch:
enzo.francois@gmail.com
http://twitter.com/lilzeon
http://pearltrees.com/lilzeon

3. Few things
on the world
we live in

4. Liquid Modernity
(Zygmunt Bauman)
• End of « solid institutions » like
churches, classic pyramidal families
–> a need for new ways to get
solutions
• privatization of ambivalence
–> tests are made by the individuals
themselves, who directly « feel » &
experience global issues
• Uncertainty everywhere
–> as there's no longer absolute
truth, a need to get reinsurance
• Nomadism everywhere
–> in life (collapse of long-term
wedding, disruptive work-life...)
“Luckily, with these changes
has come an increasing
openness to doing new
things. Online dating has
grown so much in part as a
response to these societal
changes, having become the
third most important way
we meet our significant
others, even though it didn’t
even exist 15 years ago.” »
Greg Blatt, chief executive
of Match.com

5. Attention economy
• Less & less time to solve more & more
problems
• distance matters less than time
• price is not only dependent on the
transformation process (input / process
/ output) but on attention-based
principles
"...in an information-rich
world, the wealth of
information means a dearth of
something else: a scarcity of
whatever it is that information
consumes. What information
consumes is rather obvious: it
consumes the attention of its
recipients. Hence a wealth of
information creates a poverty
of attention and a need to
allocate that attention
efficiently among the
overabundance of information
sources that might consume it"
(Simon 1971, p. 40-41)
What the most important asset
is: access to relevant
information” Herbert Simon

6. In this environment, good ideas are
threatened by an environment of
constraints and by personal lack of time…
Environment of risks
• Uncertainty
everywhere
• Purchasing power in
disgrace
Personal strategies
• Lack of overal
knowledge
• Time constraint

7. “Americans
conducted 14.8
billion core
searches in April
2009“
comScore
…which tries to be solved
through the internet.It
may be a massive online
problem solving system…
“of the customers who shop
for high-end merchandise
online, 78 percent of them
did so in order to find the
best price while nearly as
many, 77 percent, did so to
compare brands”
BrandWeek, January 2010

8. …but it’s much
more than a
super-computer

9. It’s not only a magic
generation issue.It’s the
economics, society, technics, ethics, needs, ideas,
entrepreneurs, history, whatever
(stupid)

10. …as if we were
amplified and if our
thoughts, feelings
and actions were
opportunities of
conversations…

11. So what
could be the
value of an
idea in the
era of Social
Media?

12. Value: an ambigous notion
• Basically:
– Value is dependent on
your need
– Value is dependent on the
way you express it
– Value is highly dependent
on the context
– Value is highly dependant
on the time
– Value is something highly
personalized
« a fair return or equivalent in goods,
services, or money for something
exchanged
the monetary worth of something :
market price
relative worth, utility, or importance
<a good value at the price> <the value
of base : a numerical quantity that is
assigned or is determined by
calculation or measurement <let x
take on positive values> <a value for
the age of the earth>
something (as a principle or quality)
intrinsically valuable or desirable
<sought material values instead of
human values — W. H. Jones>
Merriam-Webster

13. So value is only SOMETIMES
directly linked to money

14. The state of ROI in Social Media
Marketing
• TV influenced the
way marketing
metrics are shaped
– Audience based
– Static based
• A strong debate btw
advertisers, media
agencies, social
media players & at
the end: brands
“Say an advertiser wants to buy 20
gross rating points. When network
television audiences were larger, this
might be accomplished by buying one
30-second spot. Today, buying those
same 20 gross rating points might
require buying multiple spots, which
means the advertiser is using up more
of a finite resource — the amount of
airtime on the broadcast networks.
Scarcity heightens demand, and
heightened demand raises prices.
That’s how the marketplace justifies its
price increases. Even if the logic is
cock-eyed —there are plenty of other
ways to reach people besides TV
commercials, after all — it creates a
rationale the marketplace can deal
with”
Catharine P. Taylor

15. Wrong principles
• People are more & more
empowered
• They're not passive
anymore in the way TV
could consider it
• People are more & more
linked through interests
than through their ages or
sex
– Because they look for
information
– Because they're liquid
• People can consolidate
horizontal clusters against
vertical communication
– Nestlé bad buzz
“The basis for this tension between
operational issues and constraining
analytic tool choice is often that analyst
think that they are done when the model
is "right". Many analysts seem to
believe that they can declare victory
and pat themselves on the back when
the model is accurate, statistically valid,
highly predictive etc. They will often
talk about all sorts of statistical
measures that "prove" the model is a
good one. Yet, in fact, the only results
that matter are business results. If the
model is accurate but impractical to
implement then it adds no business
value and should, therefore, be
considered a bad model. ”
James Taylor

16. Value lies in
communities
of interests

17. Why communities
matter to value an idea
• The value of an idea lies in the
using of it » Thomas Edison
• People are now both the
“audience”, the stakeholders
and the amplifiers of the ideas
• The bone of contention:
– Trying to get metrics from human
interactions & conversations
– Trying to quantify what is highly
complicated to do
« It can only begin to have value
when it’s an idea + execution. Till
then, it’s still just an idea. When you
combine an idea + great team +
execution, it can start to have
potential but the real value remains
zero, until it gets tested/evaluated by
real customers. That’s when you can
start to estimate the real potential of
“the whole package” again not the
idea alone. »
Valto Loikkanen

18. Uniqlo understood it!
« Statusphere »
Trendwatching

19. Entering social metrics
• The world is neither flat
in Social Media nor
perfectly equal:
– Mapping communities is
key to understanding
which public are
outreached by
individuals
– It’s then important to
measure the importance
of your idea-related
topics in these groups
« blackboxing is the way
scientific and technical work
is made invisible by its own
success. When a machine
runs efficiently, when a
matter of fact is settled, one
need focus only on its inputs
and outputs and not on its
internal complexity. Thus,
paradoxically, the more
science and technology
succeed, the more opaque
and obscure they become. »
Bruno Latour

20. • An example of modelization of communities

21. Social metrics should not be
static
• Conversations among
people are dynamic
– The fuel of this dynamic
is the relevance people
give to a topic or
another
– It’s utterly important to
position your idea in this
moving system
”It's a process, not an event.
Dating is a process. So is
losing weight, being a public
company and building a brand.
On the other hand, putting up a
trade show booth is an event.
So are going public and having
surgery.
Events are easier to manage,
pay for and get excited about.
Processes build results for the
long haul”
Seth Godin

22. • Therefore ideas should be
able to touch people
depending on the ties they’re
ready to manage with them
– Strong ties (your close
buddies)
– Weak ties (your groups of
interests)
– Temporary ties (when people
are over-active to reach a goal)
• At the end, we can only
manage 150 ties according
to Paul Adams (UX Google
lead)
“We care about the direct
relationship with the "one" but count
on the effect of the one passing
along to their many either explicitly
or more subtly”
John Bell, MD & ECD 360°Digital
Influence, Ogilvy

23. Metrics me

24. Ogilvy 360o Digital Influence Conversation Impact™
Model: Summary
• Allows cross-channel / media
mix & campaign optimization
• Evaluates influencer and end
user campaign impact
• Segments metrics around key
marcom funnel points:
• Reach & Positioning
• Audience exposed to message
• Brand positioning
• Preference
• Audience preference for
brand
• Action
• Sales & other action
• Examples on the right
Campaign 1. Influencer Impact
(Preference)
Share of Positive Voice
Campaign 2. End User Impact
(Positioning/Preference)
In-Category Awareness, Purchase Intent,
Sentiment

25. Conversation Impact Dashboard - Overview
Metric / Funnel Goal > Data Aware-
ness
Considera-
tion
Prefer-
ence Action Loyalty
Reach/Positioning
• UMV – blogs, site, microsite, applications, other, total #
/ % change
Real-time to
weekly
• Volume of online conversation, #/% change, Cost per
Online Conversation Generated (CPICG)
Real-time to
daily
• Share of voice in category (=Volume for brand / volume
for category), # / % change, Cost per Increase in Share
of Voice (CPISV)
Real-time to
daily
• Search visibility (for relevant keywords) Real-time to
weekly
Preference
• Sentiment index of online conversation (% positive - %
negative), # / pts change, consumers reached vs. all,
Cost Per Increase in Sentiment Index (CPISI)
Daily
• Share of [net] positive voice in category (=[Net]
positive brand mentions / [net] positive category
mentions), # / % change, consumers reached vs. all, Cost
per Increase in Share of Positive Sentiment (CPISP)*
Daily
• Relative net promoter score (NPS) in category (=brand
NPS / category NPS), # / % change, consumers reached
vs. all, Cost per Point Increase in NPS (CPINP)
Monthly/
Quarterly
survey
Action
• Registration: RPA, CPA, $, # Daily to weekly
• Sale: RPA, CPA, $, # Real-time to
weekly
• Advocacy: RPA, CPA, $, # Real-time to
weekly
*Net positive voice is defined as positive – negative mentions

26. Rethinking
the idea of
value:
reputation
as the new
currency to
achieve
great ideas

27. People: shareholders of the
value of an idea
• As seen before, the way
people demonstrate their
addiction to an idea is
expressed through
conversations & positive
share of voice
• Main objective for an
idea-maker: managing,
increasing and
improving reputation
around its idea
”As Obama says, we are the
ones we’ve been waiting for
(…). In other words, we need
fewer old leaders, and more
love”
David Weinberger

28. A
methodology
to make an
idea worth it
in the era of
social media
”The purpose
of a business is
to create a
customer”
Peter Drucker
“the purpose of
a business is to
serve a
customer who
creates
customers"
(Razorfish VP
Shiv Singh)

29. Ogilvy Big Ideal
• Transform an idea
into an ideal
– Dynamic approach
– Focus on a specific
society need
• A way to include
people’s attention
to your message
– Because it may
feed their daily life
– Because they can
take part to this
ideal
« Simply stated, a Big Ideal is a
universal, enduring theme that a brand
stands for. It’s the emotional center. And
we have found that the best way to locate
this emotional center is to start with a
deep understanding of what your brand
is really great at – your brand’s best self
– and then to connect this to an
important cultural truth or trend that is
going on in society. This is a place where
you will fi nd energy and passion »
Brian Fetherstonhaugh. Chairman & Chief
Executive Officer OgilvyOne Worldwide

31. Step 1: listening
• Using Social Media free tools to start listening to
online conversations
– Identification of key words or equations of key-words
that people are using
• Google ad word tools
• Experience blogsearch
– Set up of alerts
– Dive into the deep web in niche communities
(specialized networks of blogs like TumlbR etc.)
• If you have some money, try professional tools
like:
– Trendy buzz
– eCairn
– Radian6
…but it’s another story

32. Step 2: Big Ideal your idea
• Try to check which society needs could be
filled thanks to your idea
– SWOT analysis based on your step 1
– Brainstorming on what your ideal really is
• Try to transform your Big Ideal into an ideal
platform:
– Key pillars
• Which ideas could achieve your pillars (services,
products, design, signature…)

33. Step 3: Structure your story
(360°Digital Influence Model)
PassivePassive
listeninglistening
(=(= getget thethe
relevantrelevant
informationinformation
dependingdepending onon
youryour fieldfield))
EngagementEngagement
programmesprogrammes
towardstowards keykey--
influencersinfluencers
(= a(= a
significantsignificant
story instory in whichwhich
youryour keykey
opinionopinion
leadersleaders cancan
increaseincrease &&
improveimprove thethe
reputationreputation ofof
youryour ideaidea))
ActiveActive listeninglistening (=(= prepareprepare youryour
organisation toorganisation to respondrespond toto
conversations toconversations to transformtransform
opportunitiesopportunities intointo value &value &
threatsthreats intointo control)control)
CampagneCampagne
ExperienceExperience
SocialSocial platformplatform
(= a place in(= a place in whichwhich youyou cancan drivedrive youryour publics & hostpublics & host
theirtheir conversations &conversations & ownown ideasideas))
CampagneCampagne
ExperienceExperience
CampagneCampagne
ExperienceExperience
CampagneCampagne
ExperienceExperience
WordWord--ofof--MouthMouth acceleratorsaccelerators

34. Perrier: oops, Dita did it again

35. Step 4: frequently measure &
optimize through dashboards
• Dashboards in order
to track share of
voice, positive
coverage & potential
opportunities
• A way to keep an
history of your
reputation and to
manage the next
steps

36. It’s your turn
• Next session:
– A recommendation for one of the 2 following
cases
• Context analysis
• Conviction
• Strategic approach
• Tactics
• Metrics

37. # 1 Arteest
• How to make Arteest the #1 fashion
platform at a worldwide level?

38. # 2 Architurn
• How to seduce a wider audience to make
Architurn profitable?