ASMI Keynote

The Impact of Social Media on Marketing Brian Cavoli October 11, 2007

Welcome the World of Influence 2.0 ,[object Object],[object Object],[object Object],[object Object],[object Object],Principles of the Social Media Impact on Business

Social Media is Mainstream It’s a Lot More Than Blogs Requires New Tools and Metrics

[object Object],[object Object],[object Object],[object Object],The Internet Takes Over "The Internet is becoming consumers' primary entertainment source. The TV is increasingly taking a back seat to the cell phone and the personal computer” - IBM Media & Entertainment Strategy and Change

Consumers Trust Others – Even if They Don’t Know Them

Social Media Sites Lead Time Spent “ The popularity of social networking is not expected to wane in the near future. This is a phenomenon we’re seeing not only in the U.S., but also around the world.” - Peter Daboll, President and CEO comScore Sites based on social media

Social Components Drive Business Results 77% Online shoppers read consumer product reviews and ratings before making a purchase (Jupiter) $2 billion Online travel purchases a year are affected by social media (Compete) 24% Online car shoppers have changed their mind about a vehicle purchase based on social media (Compete) 51% Journalists read blogs for story ideas (Columbia Univ) More Influential BoingBoing has more inbound links than NPR and BusinessWeek (Technorati)

Social Media Also Influences B2B Purchases ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Source: PJA IT Social Media Index, 2007 IT Buyers Place the Greatest Trust in Social Media Source: Universal McCann/KnowledgeStorm, 2007

Social Components Drive Business Results ,[object Object],[object Object],[object Object],[object Object]

“ for seizing the reins of the global media, for founding and framing the new digital democracy, for working for nothing and beating the pros at their own game”

“ marketing world leaders declared that it's time to give up control and accept that consumers now control their brands.”

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Welcome to the Post Advertising Age “… display advertising's main role will be to quickly, straightforwardly, informatively draw you into a broader brand experience.” - Bob Garfield in Advertising Age

Marketers are Changing Their Tune ,[object Object],“ What we really need is a mind-set shift, a mind-set shift that will make us relevant to today's consumers, a mind-set shift from 'telling and selling' to building relationships”

Building Brands People Want to Talk About ,[object Object],"Advertising is not dead; it's really important, but it's more about fanning the flames of word-of-mouth than anything else." - Beam CMO Rory Finlay

Blogs are Important… But They are Just the Beginning ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Cumulative Number of Blogs (Source: Technorati)

Social Networks Offer Blogging and a Whole Lot More ,[object Object],[object Object],[object Object],[object Object],[object Object]

… And Their Traffic is Exploding ,[object Object],[object Object],[object Object],“ The shift in demographics reflects the ’mainstream effect’. It's really a broadening of the user base, rather than one user base supplanting the other" - ComScore on the changing Myspace audience Social Network Users MySpace 200,000,000 Orkut 68,000,000 Friendster 50,000,000 Facebook 40,000,000 Classmates 40,000,000 Xanga 40,000,000

Creating New Marketing Opportunities … Beyond the Banner Ad

Wal-Mart’s MySpace Community

Brands Enhancing the Community Experience

Making it Easy to Spread the Brand Virally

Consumers Are Identifying Themselves With Brands

“ Never Ending Friending” ,[object Object],[object Object]

Television Decreases for Social Networking Users

Marketer are Connecting with Consumers on Twitter

Social Media is Mainstream Social Media is a Lot More Than Blogs Requires New Tools and Metrics

Traditional Marketing Tools Don’t Work Here ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],“ Ditch the marketing tactics – this is about building trusting relationships. Marketers will fail of they approach social media as traditional marketing channel” - Forrester Research Traditional metrics measure: Engagement metrics measure:

Measuring Engagement Requires New Tools Source: Forrester Research Interaction eCommerce Social media Platforms Inquiries, online sales Qty/freq. of reviews, posts, comments Intimacy Market surveys Brand Monitoring Sentiment tracking Consumer opinions Influence Market surveys Brand Monitoring Satisfaction ratings Brand affinity Viral content High profile blog posts Involvement Web analytics Site visits, time spent, page views, etc. How to Track What to Track

Measure the Influences on Your Brand ,[object Object],Natural Language Processing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Next-Gen Video Wars: Blu-ray vs. HD DVD ,[object Object],[object Object],vs.

Equal Discussion Among Early Adopters ,[object Object],[object Object],[object Object],[object Object],[object Object],Format Discussion Volume Speaker Analysis Volume

HD DVD Discussion is More Positive ,[object Object],[object Object],Positive HD DVD Discussions Outweigh Blu-ray 32.9% to 23.5%

HD DVD Earns More Positive Mentions ,[object Object],[object Object],[object Object],[object Object],Post Authors Impressed with HD DVD, Cite its Advantages # of posts

Top Blu-ray Negatives: “Dislike” and PS3 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],“ Cost” and “Format Wars” Aren’t Top Negatives

Over Time…Indifference Dominates

Thought Starters for Sony and Blu-ray ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Measuring Engagement with Cymfony Brian Cavoli [email_address] 617-673-6023

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