Wikibrands presentation to Schulich's IMBA Toronto by Sean Moffitt

1. Wikibrands - Reinventing Your Company in a Customer-Controlled Marketplace - February 2011Schulich IMBA @wikibrands Sean Moffitt @seanmoffitt

2. Who is Sean Moffitt…. Just A Blonde Guy With a Cause

3. Forget social media… …we need social business

4. 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

5. 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?

6. The New Kids on the Block Traditional New Economy How and what do we do to change the culture of business?

7. Business and Brands still Matter…. …but…

8. A Demanding and Activist Customer Culture has Taken Over

9. 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” 9

10. 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…

11. Our Challenge?

13. Social influence

14. Digital engagement

15. Word of mouth

16. Online community

17. Grassroots marketing

18. Connected media

19. Member collaborationEquals success in business

20. Our Particular Mission

21. 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

22. 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”

24. 10 Key Things to Do It Right

25. Come Wikibranding Career Advice

27. 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

28. 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

29. 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

30. 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

31. 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

32. Reason #5 - Social, Participation, Engagement, Collaboration, Influence, Community = Smart Business

33. “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

34. 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

36. Referral/recommendation

37. Badging

38. Sales/traffic

40. Affinity

41. Empathy/respect

43. Education/ advice

44. Value-add experience

46. Corporate social responsibility

47. Galvanize employees

49. User-generated Creative

50. User-generated content

52. Beta-testing

53. Market research/polling

55. The Biggest Social Media Sins - Listening, Content and Focus

56. The FLIRT Model – A Recipe for Wikibrand Success CULTURE CULTURE

57. #1 Culture Change Required

58. Core Belief #1 - There is a big difference between “Being Social”

59. Versus “Doing Social”

60. A Culture Change is Required MASS MARKETING DIRECT MARKETING SOCIAL INFLUENCE MARKETING

61. Zappos – Buried in their DNA

62. Dell - From Crisis to Engagement

63. Intuit – the Visionary-Led, BtoB Community Builder

64. Lego – The Bottom Up, Community Builder

65. Hurdles?

66. 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

67. #2 FOCUS – “Why are we doing this/what are we doing?”

68. Nike + -Members/Customers Values/Lifestyle/Desires

69. Naked Pizza – Clear Sense of Business, Brand and Culture

70. Mozilla Firefox– Building a Better Internet across every Community and Country

71. #3 LANGUAGE, CONTENT & OUTREACH “do I like this/is there enough of this/can I identify with this/do they know me?”

72. Language - Threadless – Possibly the Most Human Site in the World

73. Content - Fiskars – Crowdsourcing your Content

74. Outreach - lululemon – Ambassadoors who buy in

75. 4. INCENTIVES & MOTIVATIONS “what’s in it for me?”

76. Extrinsically – Doritos – You Are The Star

77. Intrinsic - Starbucks – Build a Better Third Place

78. Explicit - Souplantation – What’s in it for Me?

79. 5. RULES, GUIDELINES & RITUALS “what can/can’t I do here?”

80. Rules - Kodak – Good Empowering Rules Experience Facilitation Legal & Ethical Concerns Employee Policies Ownership Support, Training and Certification Rituals/Customs

81. Customs/Rituals – Harley Davidson – Reinforcing the 1%

82. 6. TOOLS & PLATFORM “how and where does it work?”

84. Cost, Resources & Time

85. Customization

86. Scalability & Usability

88. Competition i.e. rewards, contests, status

89. Customizationi.e. widgets, avatars, profiles

90. Conversationi.e. blogs, forums, comments

91. Connection i.e. messaging, integration, feeds

93. Co-Creation/Collaboration i.e. CGM, ideas, reviews

94. Contextual Extensionsi.e. mobile, offline, online, IM

96. The Away Game - Kraft - The Tools of Word of Mom

97. 7. COMMUNITY MANAGEMENT “who will lead the conversation?”

98. How to Avoid This…

99. Community/Brand Evangelists - Tasks

100. 8. LIFE STAGE OF THE COMMUNITY “when do we need to adapt?”

101. The Life Stage of Social Media/Community Milestone achievement User generated content Incentives materialized Mass supported Expected cycle of activity Expansion Broadened focus Company culture change Self-governance Tiered membership Fresh produced content Highlight contribution Incentives pitched Networked Seeded audience

102. 9. METRICS, MEASUREMENT, INSIGHTS & ROI “what do we measure and look for?”

103. A Different Brand Yardstick

104. 10. CULTURE & ORGANIZATIONAL CHANGE “how will we be changed?”

105. Sweet Leaf – The Friend of Commun-i-Tea

106. Do Brands even Belong in my Social Spaces!

107. 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

108. The Future?

109. Types of New Media Future Growth

110. You are about to make your most important decision over the next 5 years …and it will affect the rest of your life

111. I. The RESume

112. “1. What would you consider to be the number one asset on a resume for new hires out of school? “ #1 Industry Related Work Experience 41% #2 Track record of Accomplishments 35% #3 Variety of interests/passions 7% Special Sauce: Thoughtfulness, good reasons for applying Demonstrated passion for my business Well-researched pitch

113. II. GETTING IN THE DOOR…

114. 3. How do the majority of new hires get made at your company? Please choose the 3 top options: #1 Referrals #2 Internship/Coop Programs #3 Online job recruitment sites #4 Serendipity – right person, right time #5 Social/digital media awareness #6 Volunteer/collaborative involvement

115. III. BECOMING DIGITALLY A SOMEBODY…

116. 7. What social spaces should new hires be engaged in to attract positive online attention? (max. 3 choices) LinkedIn 90% Personal Blog 69% Twitter 65% * Negative stuff on Facebook

117. IV. THE INTERVIEW…FOR SOME DREADED

118. 9. What is your biggest pet peeve with interviewing new hire job applicants? #1 Being Unprepared #2 Candidate Arrogance #3 Dissing Old Employers/Managers #4 Not Answering Questions #5 Not Asking Questions

119. 10. What question do new hire candidates "trip up" on most frequently? #1 Why did you apply for our company? #2 What is your biggest opportunity/weakness? #3 What skills do you have that would make you valuable for this job? #4 Are there any questions you have about role/company?

120. 11. Please list the top 3 traits of interviewees who are consistently hired. Inquisitive/eclectic experience Business savvy Outgoing/motivated Effort and courage to stand out from the pack Innovative Concise/concrete examples of skills Thank you note/personable

121. 13. What questions should the candidate be asking you during an interview: You may select more than one answer (max. three choices). #1 What does success look like in this role? #2 What excites you about the company future? #3 What does company culture feel like? #4 What would a career direction be like for somebody taking this job?

122. IV. THE EVALUATION

123. 14. What are the top skills you are looking for in new hires out of school? Please select your top 3. #1 Communication skills #2 Enthusiasm/perseverance #3 Interpersonal skills #4 Fit with company culture/values #5 Creativity/Innovation

124. Some Advice - Act different, be different, think different Top 8 Differentiation Drivers Unique Dynamic Different Distinctive Innovative Visionary Daring Progressive Source: Y&R Brand Asset valuator

125. Make Your Content Sing

126. Never Forget – Humans are Hard Wired Social Animals 91

127. 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

128. Let’s Start The Conversation… Inquire: smoffitt (at) agentwildfire.com nadia (at) agentwildfire.com Phone: 416-255-4500 URL: www.AgentWildfire.com Join: www.TheInfluencers.ca Blogs: http://BuzzCanuck.typepad.com/ www.spreadslikewildfire.com Explore: The Buzz Report (e-newsletter) Signup at www.AgentWildfire.com Learn: Executive WOM Seminars