social media mythbusters

Social Media MythbustersPeter KimChief Strategy Officer

11 October 2011

® 2011 Dachis Group. Confidential and Proprietary

Hello.


Social Media Mythbusters | 11 October 2011 @peterkim #smm

How I got here

• Digital strategy at Razorfish, 2000 - 2001• Head of global digital marketing + ecommerce at PUMA,

2001 - 2004• Analyst at Forrester, 2005 - 2008• Employee #1 at Dachis Group, 2008 -



Dachis Group is 200+ professionals worldwide

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We’ve worked with...

Fortune 100



We have delivered 500+ Social Media Solutions


Let’s rewind it back.



From institutions to individuals

• Subservient Chicken, 2004http://www.subservientchicken.com/pre_bk_skinned.swf

• BowieChick, 2006http://www.youtube.com/watch?v=jXe8pyY9G80

• @delloutlet, 2009http://twitter.com/delloutlet



Social media myths

• Fail fast• Customers in control• Brands don’t need Facebook or Twitter strategy


“Fail fast.”



($2.7) billion in market cap



Imported from Detroit



Don’t fail - be strategic insteadFail fast =quit and give up easy =spaghetti against the wall =no clear strategy going into your business =no ability / willingness to try and pivot as market conditions change =easy way out =today’s management mantra that will be laughed at in 10 years.

- Mark Suster, VC and General Partner at GRP Partners

http://www.bothsidesofthetable.com/2010/03/11/the-fail-fast-mantra-needs-to-fail/


Being strategic



Start with culture

http://communicationnation.blogspot.com/2011/02/connected-company.html



Organize for connectivity




Use the right tools for the right jobs



“Consumers are in control.”



Austin Solid Waste Services



Consumers are not in controlThe overheated rhetoric acts as a deceptive rationalization.We marketers have far more control than we let on.We buy the media, make the product, write the message, pick the messaging platform, select the suppliers, and hire the employees who ultimately do all the above.

- Pete Blackshaw, Nestle Global Head of Digital Marketing and Social Media

http://www.clickz.com/clickz/column/1696074/repeat-after-me-were-still-control


A framework for sharing control



The goal: create business value

Activate!

+ A company that lives brand values from the inside out"

+ Brand values to consumers in new, compelling ways"

+ Engage consumers in meaningful relationships that drive loyalty"

+ Cultivate loyalists into advocates for your brand and have them demonstrate your brand values in the marketplace"

Unite!Communicate!

Create!


“You don’t need a Facebook strategy.”



800Musers worldwide

Source: Facebook

$77 billion valuationSource: Wall Street Journal



Facebook would be the world’s 3rd largest country

1,340 million1,210 million

800 million active users

312 million

191 million 238 million



Planning for Facebook


“You don’t need a Twitter strategy.”



Twitter now has 100 million active users

Source: Twitter



How to succeed with Twitter

• Build a follower base- The bigger the better - think Duncan Watts’ “Big Seed”- Promoted accounts have stickier follows

• Publish organic and promoted tweets- Engage with consumers naturally- Promoted tweets don’t spur unfollow lift and show 3 - 5%

engagement • Plan ahead with a promoted trend

- High visibility, high traffic

• http://www.beingpeterkim.com/2011/09/twitter-media-plan.html



Social business by design

• Don’t fail by making stupid mistakes - plan holistically

• Remember that brands have control - you make the market

• Social networks have critical mass - you need a integrated media plan

Thank you

http://www.dachisgroup.com+ 1 [email protected]@peterkim

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