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1. The State and Future of Social Business. May 15, 2012 Webcom. Jeremiah Owyang Industry Analyst. 2. “The only thing constant in business is change” -John Perera, my first manager. 3. 4. Cluetrain Theses (Original). Markets are conversations.

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The State and Future of Social Business

May 15, 2012

Webcom

Jeremiah Owyang

Industry Analyst

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2

“The only thing constant in business is change”

-John Perera, my first manager

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Cluetrain Theses (Original)

Markets are conversations.

Markets consist of human beings, not demographic sectors.

Conversations among human beings sound human. They are conducted in a human voice.

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Cluetrain Theses (Updated for 2012)

Markets are conversations conversational ads

Markets consist of human beings, brand pages, not demographic sectors. and social graph targeting

Conversations among human beings sound human. They are conducted in a human voice. Analyzed by social performance analytics

agenda
Agenda
  • The State of Social Business
  • Trend 1: Corporate Websites Reborn
  • Trend 2: Social Becomes Automated
  • Trend 3: To be Heard, You Will Pay
  • Pragmatic Recommendations
agenda1
Agenda
  • The State of Social Business
  • Trend 1: Corporate Websites Reborn
  • Trend 2: Social Becomes Automated
  • Trend 3: To be Heard, You Will Pay
  • Pragmatic Recommendations
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Companies are averaging an overwhelming number of corporate owned accounts

“Approximately how many official social accounts exist across the entire company, including all business units, products, or regions? (best estimate)”

Source: Survey for Social Media Program Managers, conducted by Altimeter Group (Q1-Q2 2011)

140 respondents, all over 1000 employees

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Four Seasons Hotels have hundreds of individual Facebook and Twitter accounts – global and local

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How companies organize for social business

Source: “The Career Path of the Corporate Social Strategist,” Altimeter Group, December 2010

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The Composition of a Social Media Team

Average Size of a Corporate Social Media Team: 11

Base: 144 global corporate social media program managers at companies with over 1000 employees

Source: “Social Business Readiness: How Advanced Companies Prepare Internally” (August 31, 2011)

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The mission of Adobe’s CoE: “Enable more coordinated and strategic social media initiatives across the company.”

Adobe’s CoE provides governance, policies and guidelines, training, measurement support, and best practices including “guardrails”

Source: Maria Poveromo, “One Company’s Journey in Social Media”

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Only the Most Advanced Companies are Conducting Social Business Holistically, Beyond Individual Silos

Would you agree that your social media strategy is embedded across corporate functions (e.g. Marketing, Sales, Support, Product, etc.)?

Source: Survey for Social Media Program Managers, conducted by Altimeter Group (Q1-Q2 2011)

143 respondents, all over 1000 employees

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Salesforce rewards Chatteratti

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Only the Most Advanced Companies Are Integrating Social Data into Customer Databases

Do you have a process to record and integrate data from social interactions with customers into existing customer databases?

Source: Survey for Social Media Program Managers, conducted by Altimeter Group (Q1-Q2 2011)

143 respondents, all over 1000 employees

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Nationwide turns to Yammer to redesign the way management and employees interact

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Senior management plays a central role in wider adoption

  • Nationwide President & COO, Mark Pizzi was one of Yammer’s first users
  • Posting relevant articles
  • Posting questions
  • Dialoging with employees
  • Demonstrating usability, features
  • Within months, he’d generated more than 7500 followers

Within 10 months of launch, 40% of Nationwide’s top leadership were participating on the network

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Dynamic Customer Journey

  • New channels.
  • New sources.
  • New devices.

Icon Placeholder

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Theme: Dynamic Customer Journey

As consumers have many choices, they’re empowered to carve the most efficient journey

agenda2
Agenda
  • The State of Social Business
  • Trend 1: Corporate Websites Reborn
  • Trend 2: Social Becomes Automated
  • Trend 3: To be Heard, You Will Pay
  • Pragmatic Recommendations
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Trend One: Corporate Websites Reborn

Companies will integrate social, resulting in new forms of context emerging –forever changing the static site.

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Top objective: To increase referral traffic from social networks (Respondents allowed to select 3)

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Evolution of the Social Corporate Website

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Sign into HuffPost with Facebook and read news shared by your social graph

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TripAdvisor visitors view friend reviews through Facebook Instant Personalization

TripAdvisor launched Facebook’s Instant Personalization feature in December 2010, offering friend ratings, reviews, and travel history.

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vitaminwater doesn’t have a corporate site – it “temporarily” moved to Facebook

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Skittles site lists its social properties & vitals

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Social integration: % of enterprise-class companies deployed (n=143, June 2011)

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Trend One Insights: Social Integration

  • Companies must choose which webpages should integrate –and then aggregate content in –don’t blindly send it away.
  • Remember that websites as we know them will go away –prepare for a new model to emerge as content as assembled on the fly.
  • This will also happen in the real world on devices, tablets, and real world kiosks, content will contextualize, much like the movie Minority Report.
agenda3
Agenda
  • The State of Social Business
  • Trend 1: Corporate Websites Reborn
  • Trend 2: Social Becomes Automated
  • Trend 3: To be Heard, You Will Pay
  • Pragmatic Recommendations
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Trend Two: Social Becomes Automated

A new category has emerged “Social Performance Software” which analyzes and optimizes social content

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Marketing Performance Spreads to Social

  • Testing
  • Cross Channel Optimization
  • Ad Targeting
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Social Performance Software brings targeting

  • A new class of vendors emerge that
    • 1) Analyze online discussions and your social graph
    • 2) Analyze your performance of content
    • 3) Match
    • 4) Optimize how it should be published
  • Will extend to Support, Marketing, and beyond
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AMEX uses uses social data to offer customers personalized discounts

American Express’s new Facebook application “Link, Like, Love” uses a cardholder’s Facebook interests including “likes” and “check-ins” to offer the most relevant and convenient discounts.

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Social Performance Software

  • Social Optimization Set:
  • Crowdbooster, which measures and optimizes when content should publish.
  • Prosodic, which analyzes the who, what, where, and aids publishers.
  • Shoutlet, which helps companies manage complex publishing at scale.
  • SocialFlow, which offers a solution to optimize content resonance and publishing timing.
  • Tigerlily, which optimizes social content to publish by theme, audience and location.
  • UberVU, which first mines the data then optimizes content to be published.
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SMMS Vendor Overview:

Download report http://bit.ly/AltimeterSocial

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Trend Two Insights: Social Becomes Automated

  • To scale, and to improve targeting, brands will analyze content and use proven techniques in this newish medium.
  • Expect some brands to fully automate, and some consumers will backlash
  • For best results, triage which information should be optimized and what’s left best for organic natural conversations.
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Agenda
  • The State of Social Business
  • Trend 1: Corporate Websites Reborn
  • Trend 2: Social Becomes Automated
  • Trend 3: To be Heard, You Will Pay
  • Pragmatic Recommendations
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Trend Three: To Be Heard In Social, You Will Pay

The future of advertising is dependent upon social. Soon, you won’t be able to tell the difference between conversations and ads.

american eagle integrates social into times square ads on their property paid owned earned
American Eagle integrates social into Times Square ads on their property: -Paid-Owned-Earned

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facebook ads
Facebook Ads

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twitter ads are fueled by social
Twitter Ads are fueled by social

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facebook limits reach till you pay
Facebook limits reach –till you pay

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adobe social spans paid owned earned
Adobe Social spans Paid, Owned, Earned

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new networks emerge beyond facebook bazaarvoice media
New networks emerge –beyond Facebook: Bazaarvoice Media

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Social Performance Software: Social Ads

  • Social Ads Set
  • Adobe Social, which employs Adobe acquisitions Context Optional and Omniture.
  • BuddyMedia, which is optimizing earned content to be ads with its Brighter Option acquisition.
  • Bazaarvoice, which has introduced a solution to launch social ads outside of traditional social networks.
  • Webtrends Social, which tracks social content off domain, ads and their performance back to the corporate website; and finally.
  • Wildfire which has partnered with Adaptly to measure the paid-to-owned transition.
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Trend Three Insights: Paid Owned and Earned Converge

  • Remember, that social analysis is the requirement for quality paid and owned.
  • All of these channels must be used in an integrated manner.
  • However if you want to stand out, assume you’ll bolster content with advertising –or you leave an opening for your competitors.
agenda5
Agenda
  • The State of Social Business
  • Trend 1: Corporate Websites Reborn
  • Trend 2: Social Becomes Automated
  • Trend 3: To be Heard, You Will Pay
  • Pragmatic Recommendations
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“The only thing constant in business is change”

-John Perera, my first manager

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Four Social Business Recommendations

  • Bolster your existing social business in a scalable formation: Aim for Center of Excellence, Dandelion, and Let Go to Grow.
  • Be prepared to restructure your website, where sending ‘traffic’ will no longer be a measure of success as websites assemble on the fly.
  • Brands struggle with scaling social, and will seek to reach consumers. Embrace serendipity as part of your performance mix.
  • The future of social is advertising; aggregate and analyze social data to determine paid and owned content.
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THANK YOU

Jeremiah Owyang

[email protected]

web-strategist.com/blog

Twitter: jowyang

Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice.

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