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e-business me-business we-business:

e-business me-business we-business: . How the Social Data Revolution Changes the Way Consumers Make Decisions. Digital Day China Shanghai, 22 Nov 2011. Why this revolution? It addresses the 3 deep needs:. A pproval B elonging C ommunication. What is the revolution?.

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e-business me-business we-business:

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  1. e-businessme-businesswe-business: How the Social Data Revolution Changes the Way Consumers Make Decisions Digital Day ChinaShanghai, 22 Nov 2011

  2. Why this revolution? It addresses the 3 deep needs: Approval Belonging Communication

  3. What is the revolution? Irreversible shift in mindset of customers aboutwho they are, how they relate, how they make decisions

  4. e-businessme-businesswe-business

  5. e-business(company focus, Web 1.0) Website provides controlled information Website possibly allows for transactions

  6. me-business(user focus, Web 2.0) Consumer in the center Self-expression, 晒 (shai, show off)

  7. we-business(community focus, Web 3.0) Collective intelligence The social consumer

  8. Social Local Mobile

  9. USA: Who do Consumers Trust? • Friends: People who like you • Offline • Online • Peers: People like you • Similar background • Similar situation • Experts

  10. Source: CIC 2010 EfluencerSurvey

  11. Two meanings of “social” Social graph Who is connected with whom? 2. Social data

  12. Case study: What data fortargeting a new phone product? • Traditional segmentation • Demographics • Loyalty • Connection data • Who called who?

  13. 1.35% Adoptionrate 4.8x 0.28% • Traditionalsegmentation • Connection data

  14. Amazon.com Share the Love

  15. Result:Amazingconversion rates since customer chooses Content (the item) Context (she just bought that item) Connection(she asked Amazon to email her friend) Conversation(information as excuse for communication)

  16. Two meanings of “social” Social graph Social data Consumer create and share data Knowingly and willingly

  17. Purpose of communication:to transmit information? Or is information justan excuse for communication?

  18. Nike+ Customers- engage- connect - 3 times per week on average

  19. Corner / Oversized Rooms: Rooms Ending in: 04 Oversized, Corner Room, Quiet Room 24 Oversized, Corner Room with North Times Square Views (Higher Floors are Preferred Rooms to Avoid: Rooms Ending in: 01, 21 Possible Ice Machine / Elevator Noise 08, 17 Limited View Rooms

  20. Social Local Mobile

  21. Local • Absolute: Place, time • Individual: Identity, History • Aggregate: Insights • Relative: Distance • To a business: Advertising • Between people: Dating • Between devices: Risk

  22. Location HistoryGoogle Latitude

  23. Social Local Mobile “SoLoMo”

  24. Mobile • Context, situation • Sound • Light • Customers interact • Tag • Scan

  25. Attention • Clicks, Transactions • Situation • Geo-location • Device • Intention • Search • Connection • Social graph • User generated • Reviews

  26. Question: • What is the biggest changein the last 5, 10 years you have seen?

  27. Social Data Growth is EXPONENTIAL • The amount of data a person creates • doubles every 1.5 years • after five years  x 10 • after ten years  x 100

  28. Data = Digital Air

  29. In the last Minute…

  30. Fundamental Shift in Communication

  31. A. Production: Everybody creates data. B. Distribution: Everybody shares data. C. Consumption: Everybody uses data. •  The study of the consumer has changed •  The consumer has changed

  32. Consumer Decision Making

  33. aware consider buy use share opinion Marketer-generated Consumer-generated Megaphone Funnel

  34. “Tina Jiang is my go to LV person”

  35. Top 8 Brands (by number of posts) Source: The Voice of the Luxury (4.5M posts in CIC luxury panel 2011.Q1)

  36. Category (by number of posts) Source: The Voice of the Luxury (4.5M posts in CIC luxury panel 2011.Q1)

  37. Topic (number of posts)

  38. Content (by number of posts)

  39. Who Can You Get To Work For You?

  40. Company Customers

  41. Customer Product Brand

  42. Product Culture • Help people make better decisions • Make it trivially easy for them to contribute • Give people an excuse to connect Note: Products/services that use social data improve over time Take the test yourself http://socialdatalab.com/intelligence

  43. Data Culture

  44. Company Culture (“DNA”) 1. Facebook Designed for contribution and distribution 2. GoogleTake whatever you can get 3. Amazon Customer-centric: Help them make decisions

  45. Ingredients for engagement: Advertising Branding Corporate Communication

  46. Ingredients for engagement: Approval Belonging Communication

  47. Twitter: The Illusion of an Audience? Two Monologues are not a Dialogue!

  48. 1993 “On the Internet, nobody knows you’re a dog”

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