social media-35304-18552
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Social Media and Marketing:
EVOLUTIONor
REVOLUTION ?
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Media Landscape
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Source: Internet Advertising Bureau, 2004Source: Darwin Day Conference, by Google
Marketing has changed more…..
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Product proliferation and availability means more choice for the buyer……..
Source: Strike up the Brands. McKinsey & Company, December 2003Source: Darwin Day Conference, Google
1. Product Proliferation
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Today, media is fragmented• 13,500 radio stations(4,400 in 1960)• 17,300 magazine titles(8,400 in 1960)• 82.4 TV channels per home(5.7 in 1960)
And the Web:• Millions of sites• Billions of pages
Source: “Left Brain Marketing,” Forrester Research (April 2004); “The Vanishing Mass Market,” BusinessWeek (July 2004)Source: Darwin Day Conference, Google
2. Media Proliferation
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• Video games• Email• XBox LIVE• Websites• IM• Search
• Radio• DVD• Ring Tones• TV• Blogs• Magazines
• Satellite Radio• TiVo (Starhub PVR)• Video On-Demand• Newspapers• Podcasting• Cell Phone
3. Access Proliferation
Source: Darwin Day Conference, Google
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Old Media
Mass Media Niche Media
Rea
ch
New Media
Mass Media Niche Media
Rea
ch
Digitization of Media
Source: Darwin Day Conference, Google
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A radical change has occurred in theWorld of advertising and marketing
“”
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
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Consumers are not listening anymore
Interruptive marketing has seen it’s day
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
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The Audience is creating
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
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The Audience is selecting
Time Shift technology
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
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The Audience is changing
Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
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As a result
“We are immune to advertising. Just forget it. ”
“You want us to pay? We want you to pay attention. ”
“ The Internet became a place where people could talk to other people without constraint. Without filters or censorship or official sanction — and perhaps most significantly, without advertising ”
“Don't talk to us as if you've forgotten how to speak. Don't make us feel small. Remind us to be larger. Get a little of that human touch. ”
Cluetrain Manifesto
Source: http://www.cluetrain.com
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Media Scales
Source: http://darmano.typepad.com/logic_emotion/files/logic_emotion.ppt
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Consumers control the online environment so brands need to think about facilitating user-created actions, not just user-generated content." Unlike newspapers and TV where the advertisers are
speaking at consumers, the Internet allows for more back and forth interaction.
Source: http://china.seekingalpha.com/article/30979
“”
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The Consumer
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The birth of Generation C
Control
Content
Communicate
Creativity
Channel
Creative Class
Community
Connected
Co-Creators
Cash
Consumer 2.0
Conversation
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Consumer Today
Source: http://darmano.typepad.com/logic_emotion/files/logic_emotion.ppt
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Buys ticketsonline
Checks scoresLooks for
information about Nascar
games
Reads up on new cd releases
Reads his friend’s postings
Gets the latest updates on
favorite teams
Downloads Songs
Music Sites
Sports Sites
Blog Sites
Movie Sites
Gaming Sites
Google.com
Searches for “what’s cool”
Consumer Touch Points
Source: Darwin Day Conference, Google
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Social Media 1.0
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1979
Usenet
1998 -2004
BlogsPodcast
Wikis
1995
1st Social Networking Site Clasmates.com
1984
Listservs
1988
IRC
1971
Social Media’s Timeline
1991
Personal Web SitesDiscussion GroupsChat
2005 and beyond>>Web 2.0 apps andUser-generated contenttake over
Source: http://www.prworks.ca/wp-content/socialmedia.ppt
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Growth of social media
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Social media describes the online technologies and practices that people use to share opinions, insights, experiences, and perspectives with each other (Wikipedia 2007)
What is social media?
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They share one or more characteristics
Connectedness
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Getting from me to them
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I post on blogs and BBS because I can express myself to millions of people at once. I like the rush, and I feel empowered.
“”
Source: http://china.seekingalpha.com/article/30979
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I believe the bloggers and their ideas. They are my friends and will tell me the truth, unlike
advertisements.
“”
Source: http://china.seekingalpha.com/article/30979
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Digital experiences
Design Centred
Content Focus
INTERACTIVITY
Marketers>Experience>Conversation>Relationship>Affinity
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Source: http://www.darmano.typepad.com
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The “satisfaction effect”
Source: http://www.churchofthecustomer.com
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The EvolutionBROADCAST
“We tell you”
Passive readers/audience
Newspaper
Magazines
TV
$
$$
Big media buys for display advertising
Examples: The New York Times, CNN
Publisher/broadcaster
Source: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
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INTERACTIVE
“Tell us what you think of what we tell you”
Passive readers/audience
Newspaper
Magazines
Web Video
$Big media buys for display advertising in heavily trafficked site
Forums
Comments
Ratings
Smaller, targeted media buys for contextual advertising in less trafficked parts of the site
The Evolution
Examples: nytimes.com, cnn.com
Publisher/broadcaster
$$$$$$
Source: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
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The EvolutionSocial Media
“Tell each other”
Passive readers/audience
$
$$
Smaller, targeted media buys for contextual advertising
Examples: Wikipedia, Slashdot, Ohmynews
$
$$
Revenue Share
Pay
fo
r le
ss
$
Source: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
Co-creators
Collaborative Publications
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Engagement is all about making it relevant to the consumer.“ ”James Speros, Chief marketing officer, Ernst & Young
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People read particular magazines because of the life stages and events which currently involve them: from teenager to golfer, from
having a baby to coping with retirement.
“”Source: Henley Centre, Delivering Engagement 2004
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The editorial/reader relationship is a one-to-one conversation, and in time it creates a bond of trust, of belief, expectation and empathy. It is through the quality of this relationship that an aperture or opening to the reader’s mind and heart is created, through which we advertisers can establish communication.
“
”Advertiser with Readers’ Digest
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Attention Engagement
The new paradigm
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Different levels of engagement
Identification
Most basic level of engagement
Having sense of shared values and common experience,
Belonging
People who are passionate enough to devote lot of timeand/ or money
Commitment
Source: The Henley Centre/ Redwood 2003
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I Believe
TRUSTFAITH
ME
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Summary
a) Media Landscape:
- Advertising Environment
- Marketing Environment
- Long Tail
b) The Consumer:
- Generation C
- Consumer Today
- Consumer Touch Points
c) Social Media:
- Timeline
- Social Media Trend
- Social Media
- Word of Mouth
- Digital Experiences
d) Engagement
- Trust
Area of Research
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Methodology
Social Media
Content Analysis Discourse Analysis Interviews Case Study
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Why am I interested?
Hype
Understanding, turning it to a power tool
Future of Advertising
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Research Questions
(1) How can the effectiveness of the advertising budget in traditional media be held accountable? (2) What tools can be developed to assess the expenditure of monies in the new digital media? (3) How can the effectiveness of internet creative messages be evaluated empirically? (4) What elements are necessary for online media planning to be successful? (5) How can interactive and traditional advertising agencies get together to do better work in the future? (6) How can the outcomes of traditional consumer behavior research be applied in the new digital world? (7) What non-traditional methodologies might be useful in addressing the concerns of the new digital world?
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Thank You
This is a standalone presentation!
This is social media!