The Evolution of the Social Brand - ITAC Digital Commerce Forum
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The document discusses the rise of social media and how it has fundamentally changed how people connect and consume information and media. It notes that social networks now reach over 1.1 billion users and 70% of internet content is created by individuals. It also discusses how brands must adopt a more people-centric approach on social media, engaging in two-way conversations to remain relevant. The document advocates that companies implement an enterprise social program to better integrate social media across different business functions like marketing, sales, customer service, and HR in order to build deeper engagement with customers and collaborate more effectively internally. It provides a 5-step framework for developing an enterprise social program with governance, risk management, internal connections, support for business units, and real
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The Evolution of the Social Brand - ITAC Digital Commerce Forum
- 1. THE NEW BRAND NARRATIVE IN A SOCIALLY CONNECTED WORLD. Bilal Jaffery @BilalJaffery “People don’t do business with companies. EarnedWeb.com Associate Director, Social & Digital People do business with people.” Bell
- 2. As referenced at A LITTLE ABOUT ME
- 3. SOCIAL IS PROLIFIC •Social networks reach 82% of the world’s internet population - over 1.1 billion users. • 70% of all information on the internet is created by individuals • The size of the digital universe doubles every 2 years. • 22% of all online time is spent on social networks. Social has fundamentally disrupted our how we connect with each other.
- 4. WE LIVE IN A FOUR SCREEN WORLD •Media is being consumed on 4 different screens: • Computers • TVs • Tablets • Smartphones • And, consumer behaviour has changed too: • Surf while watching TV • Facebook/Twitter Apps on TV • Netflix consumption is on the rise • Over 4 billion videos are viewed daily on Youtube How consumers engage with brands and consume media has fundamentally changed.
- 5. THE NEW BRAND From Company-Controlled To People Centric One-way dialogue will be ignored and resented. Companies must entrench themselves in networks in a bi-directional capacity to have a voice and to remain relevant.
- 6. HOW DIGITAL EXPERIENCE EVOLVES? When all facets work together, digital performance increases: 400% higher visit-to- lead conversion rate 41% lower page abandonment rate 16.6% more recommendations by customers for products and services 15.8% fewer customers lost to competitors 14.4% repeat purchase interest by customers Forrester Research, Inc. Everyone in an organization needs to consider how social fits into and disrupts their functional area.
- 7. SOCIAL DISRUPTS THE Traditional Business Social Business TRADITIONAL over message and brand Losing control Deeper levels of engagement with the social customer through consistent and relevant content; Marketing the ability to scale. Customers flocking over social media to The ability to treat customers personally due to Customer share bad experiences. better customer insights via listening. Fostering Service communities to help themselves like Peer to Peer support. Exhausted lists, lacking understanding of Increased collaboration between sales and customer challenges marketing. Social feeds into CRM systems to build Sales deeper insights allowing sales to nurture relationships. Unable to adapt to evolving consumer Product and process innovation using collective demands and buying behavior wisdom of the online communities. Product High turnover, low employee engagement, Ability to retain talent as they are engaged. Easier HR unable to govern recruitment. The social revolution is challenging the traditional processes, policies and structure.
- 8. THE SOCIAL BUSINESS Community management Customer service Communications Crowdsoursing Marketing Campaigns Advocacy Crisis Initiatives Social Media Social Social Enterprise (External) Business (Internal) Infrastructure Training Process Collaboration Organization models Research and development Polices and guidelines Knowledge sharing Culture Social Business embraces and nurtures a culture of collaboration & community through out its ecosystem – internal and external.
- 9. 5 STEPS TO AN ENTERPRISE SOCIAL PROGRAM Future State 1. Foundation: First, develop a business plan and put governance in place. 2. Risk Management: Then, get organized by anointing a team and process to deal with crisis. 3. Formation: Next, connect business units to increase coordination and reduce duplication. 4. Enablement: Grow by letting them prosper – give business units the support and flexibility to reach goals. 5. Enlightenment: Finally, weave real-time market response into business processes and planning Our social media priority is to build a leveraged social ecosystem which can be utilized to drive business objectives.
- 11. FEEL FREE TO CONNECT
Notas do Editor
- Forrester’s Groundswell Award for excellence in effective use of social technologies to advance an organizational or business goal. Savings of $100 million a year by utilizing social communities vs. contacting support.
- The digital world has evolved to a social world – social networks are prolific. If you are on the Internet, you are connected to a social network – 82% of the Internet population Content is overwhelmingly being created by people, not companies – 70% of information on the Internet More online time is being spent on social networks – 22% of all online time – that’s 1 out of every 4.5 minutes The task is now on companies to determine how and what they will do with social: How to leverage social and make it work for themPicture: Actual sign in New York City.
- How we engage and consume the brand has significantly changed. We live in a 4 screen world in which consumers decide how they want to consume content and engage with the brand. As a result: Not only has the content changed, but the way people access content has also changed. Example: They are surfing while TV is in the background. Poses new challenges to businesses: PVRs enable customers to fast forward through TV commercials Online TV/Apple TV etc. When people watch TV, they are also surfing online.Businesses now have to be present on 4 different screens. Deliver consistent ‘experience’ and ‘message’Crafting a unique “Brand” experience, no matter the channel/medium. Quote: The only screen that matters is the one infront of the user. ~ Mitch Joel, Google Performance Conference, 2012.
- Before social, companies had more control over the information and content that existed about them – both online and across traditional media. Companies could create their brand and image and dialogue was essentially one way from the company to consumers. Today, consumers are at the centre of a brand– a brand is what people say it is based on their experiences and perceptions of a company. This is why each and every interaction with a customer matters. Make a mistake and everyone knows about it. Consumers look more to each other.
- Social and digital has undergone 4 distinct phases, involving different parts of a company at the different stages: In mid 90s, the web was a place to publish content, very little (if any at all) impact on companies – at the time, was purely a marketing and advertising vehicle With the birth of eCommerce and eBusiness in the late 90s the web became a new way for companies to transact – now, involving an entire company as it enabled a new sales channel By 2004, the concept of sharing was born – what is this here? Facebook? What? Today we are in the 4th phase – where social is becoming a layer to our existing business processes – letting sales, marketing, service, product, supply chain use it in their own context through improved collaboration, insights, and better touchpoints with the customer. The holistic experience delivers an improved customer experience which results in better leads, conversion and ultimately sales. Forrester study indicates higher revenue, increased sales and retention when online experience improves.
- A social business isn't just a company that has a Facebook page and a Twitter handle. It embraces and cultivates a spirit of collaboration and community throughout its organization—both internally and externally.From employees + business partners + customers
- Without proper framework in place, we only add risk to our brand and our ecosystem. Plan, Support and Execute to deliver the best experience for the customer. Move past being a linear process-driven organization and create a nimble, agile networked business.
- Organizations need to become nimble, agile and transparent. Always challenge the existing and innovate to ‘survive’.