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From Augie Ray: This is my keynote presentation from the 2012 PR & Social Media Summit. My decks are not produced for download but to be presented. With layers and animation, they tend not to stand alone very well as a SlideShare deck rather than presented live with the talking points. Still, I hope you find this deck useful and interesting. Key points: - The time has come for us to throw away the simple concepts (or "bubbles" that we continue to rely upon in marketing PR and social media. - For example, if the consumer is in control, then social media cannot be a marketing medium. The data presented demonstrates why. - Social CAN be a marketing medium, but it's really a marketing medium. Meanwhile, the consumer may be more in control than ever before, but they don't foot the bill in social media, which give brands and social networks power. Neither of the first two bubbles is completely correct--we need to pop both, bring them together, and recognize that social is a medium for value, not messages, and brands need not fear empowered consumers but work mutually with them. - The next bubble to be popped is the insane chase for fans and engagement of any sort. We explore the way Facebook EdgeRank works and why it is useless to collect any fan via any means. Instead, focus on fans that have built-in affinity (or the potential for it.) If you don't have affinity, your content won't appear in fans newsfeeds, and that means you become invisible. - We explore Progressive's fan page for Flo, which looks like a success but all those fans and all that engagement couldn't help protect Progressive from its recent social media reputation event. The lacking ingredient is brand vector--moving consumers closer to the brand and not just collecting engagement for engagement's sake. - The next section of the deck explores the "social media crisis," a term that is thrown around much too loosely, As demonstrated, brands like United, NBC and Bank of America suffered from highly visible social media crises, yet their stock shows no sign of damage. - We need to stop being alarmist and over-selling the "social media crisis." Yes, these are significant events, just like a broken bone is a significant event--but no one calls a broken bone a crisis. As professionals, the time has come to prevent, manage and minimize social media crisis just a a doctor treats a broken bone, without the added hysteria of treating everything like a "crisis." - Lastly, I remind people to get out of the industry bubble every now and then. I use a "mom rule" (but your rule may be a "uncle rule" or "grandma rule"). By using this persona, it helps me to evaluate the things that will rapidly catch on (Pinterest, for example) fr
Citation preview
Time for Maturity in Social Media
Augie RayDirector of Social Media
Prudential
@augieray #prsms
Social Media is aMarketing Medium
TheConsumer
Is InCharge
@augieray #prsms
Social Media is aMarketing Medium
TheConsumer
Is InCharge
Source: 2012 Nielsen Global Trust in Advertising report, 28,000 Internet respondents in 56 countries
@augieray #prsms
Social Media is aMarketing Medium
TheConsumer
Is InCharge
71% watch more time-shifted TV
than they did a year ago and 96% fast forward through
DVR ads.
Source: TVGuide.com Fall 2011 TV User Survey, October 2011; 5897 Participants
@augieray #prsms
Social Media is aMarketing Medium
TheConsumer
Is InCharge
Source: 2012 IBM Institute for Business Value Beyond Digital Report
@augieray #prsms
Social Media is aMarketing Medium
TheConsumer
Is InCharge
51% of consumers expect that a “like” will result in marketing
communications from brands...
But 40% do not believe it should result in marketing
communications.
Source: Exact Target, Subscribers, Fans & Followers Study, 2011
@augieray #prsms
Social media is a medium
where value is
exchanged and relationships are created mutually.
Social Media is aMarketing Medium
TheConsumer
Is InCharge
@augieray #prsms
The Value ofFans and Engagement
@augieray #prsms
More Facebook FansFewer Facebook Fans
Quick Survey: Fewer Facebook Fans More Facebook Fans
@augieray #prsms
More Facebook FansFewer Facebook Fans
Quick Survey: Less Engagement More Engagement
@augieray #prsms
Look! A Fan Surge!
10/2266,353
11/19159,577
Ban
k T
ran
sfe
r D
ay
10/20 10/23 10/26 10/29 11/1 11/4 11/7 11/10 11/13 11/16 11/19
170,000
160,000
150,000
140,000
130,000
120,000
110,000
100,000
90,000
80,000
70,000
@augieray #prsms
Adv
ocat
e L
oyal
cus
tom
er
Act
ive
shop
per
B
logg
er/J
ourn
alis
t
O
ccas
iona
l Cus
tom
er
P
rosp
ect
E
mpl
oyee
Ven
dor
Reg
ulat
or
F
reeb
ie s
eeke
r
Sw
eeps
take
r
Con
test
Hou
nd
C
ompe
titor
Dis
grun
tled
cust
omer
Det
ract
or
A
ctiv
ist
All Fans are Not Created Equal
High Value Fans Low Value Fans
+$ -$
@augieray #prsms
∑ Ue We De = Success
The Simple Facebook Equation
Fans to the power of Affinity
Affinity between user & edge creator
Weight for this edge
Time decay factor for edge
FansA *
@augieray #prsms
Adv
ocat
e L
oyal
cus
tom
er
Act
ive
shop
per
B
logg
er/J
ourn
alis
t
O
ccas
iona
l Cus
tom
er
P
rosp
ect
E
mpl
oyee
Ven
dor
Reg
ulat
or
F
reeb
ie s
eeke
r
Sw
eeps
take
r
Con
test
Hou
nd
C
ompe
titor
Dis
grun
tled
cust
omer
Det
ract
or
A
ctiv
ist
All Sources are Not Created Equal
Earn PayEarn
• Product & Service Experience• What you stand for• How you conduct business
• Product & Service Experience• What you stand for• How you conduct business
@augieray #prsms
∑ Ue We De = Success
The (Slightly Less) Simple Facebook Equation
Fans to the power of Affinity
Affinity between user & edge creator
Weight for this edge
Time decay factor for edge
Brand vector
FansA * * b
@augieray #prsms
Look! Lots of Engagement!
Company #4
Company #3
Company #2
Company #1
0% 20% 40% 60% 80% 100%
Use/Choose/Recommend
Switch
Not use/Drop/Not Want
Total Insurance Conversation Volume by Brand
Percentage of Social Media Conversations by Topic
@augieray #prsms
Progressive’s Fan Success4,501,045 likes 52,530 talking about this∑ Ue We De * =
SuccessFans to the power of Affinity
Weight for this edge
Time decay factor for edge
FansA *Brand vector
b
Affinity between user & edge creator
@augieray #prsms
The winner isn’t the brand with the most fans or engagement.
It’s the brand with the most valuable fans having the most meaningful engagement.
@augieray #prsms
The Disastrous Social Media Crisis
@augieray #prsms
7/6/09: Video posted7/7/09: 150,000 views 7/9/09: 500,000 views 8/09: 5 million views2/11: 10 million views
@augieray #prsms
@augieray #prsms
• Set the record for most-watched television event in US history.
• Earned higher average prime-time audience than the Summer Games in either Beijing or Athens.
• NBC anticipated losing $200 million on the games but instead broke even due to higher-than-expected ratings and ad revenue.
@augieray #prsms
@augieray #prsms
Bank of America reversed the debit card fee!
650,000 new credit union members!
Credit unions earned $4.5B in new deposits!
@augieray #prsms
Six months after fee announcement…
BoA stock up 55%, outperforming DJIA 280%!
Average deposit balances up $25 billion in Q4!
@augieray #prsms
cri·sis noun \ˈkrī-səs\
an unstable or crucial time or state of affairs in which a decisive change is impending;
especially : one with the distinct possibility of a highly undesirable outcome.
@augieray #prsms
The Social Media
IndustryBubble
@augieray #prsms
Social Media Echo Chamber
BlogsTwitterersResearch
NewsAppsFeedsNews
GroupsConferences
@augieray #prsms
The Mom Rule
Would my mom do this?
@augieray #prsms
The Mom Rule
Would my mom know this?
Would my mom act on this?
@augieray #prsms
Keep popping bubbles or
someone will pop them for you.
Keep blowing
bubbles—the
world needs
more
bubbles!
@augieray #prsms
Thank You
Augie Ray@augieray
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