eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries

VictoriaPetrock

J U L Y 1 9 , 2 0 1 2

Social Media Marketing forVerticals—What Works for Key Industries

KristaGarcia Sponsored by:

Talking Points

1) How are marketers in key vertical industries using social media to achieve specific goals, and why?

2) Which social media tactics are a good fit for some industries but not for others?

3) How can marketers in regulated industries make the most of social media marketing?

4) What can marketers in different verticals learn from each other?

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Social Media Has Become Integral to Marketing

Social networking is growing both in the US and worldwide

Image: FreeDigitalPhotos.net

eMarketer forecasts that there will be 157.8 million US social network users in 2012, rising to 170.7 million in 2014.

Worldwide, there will be nearly 1.4 billion users in 2012, rising to more than 1.8 billion in 2014.

Companies in many industries are charging ahead with social media...

…and using it in a variety of ways

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“There’s no one specific use for social media. It serves many masters. ...You want to shore up brand loyalty. You’re trying to promote engagement with the online properties and, of course, awareness and conversation.”

—Andy Murdock, US digital editor at Lonely Planet (Americas)

But one size does not fit all

Image: Carlos Porto/ FreeDigitalPhotos.net

Different social media make more sense for different industries

Scale image: vichie81/FreeDigitalPhotos.net

How and Why Industries Use Social Media Differently

Factors that help determine social media strategy

1) What am I trying to accomplish?2) Who is my target audience and what are their online habits?3) What type of offering do I have?4) How well does it lend itself to online discussion? 5) How much education must I do to market it?6) How good is my company’s reputation? My industry’s

reputation?7) Are there privacy concerns that might make discussion in a

social forum difficult?8) Are there regulations or other restrictions on discussing it?

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Different tactics are more suited to different industries

“Certain categories work better in social media because social is all about the creation of an identity by posting, then sharing those posts to create community.”

—Jon Kubo, chief product officer at social commerce platform 8thBridge

(But the most effective are the ones that tap the “ME” in Social MEdia)

Some company types are much more likely to be “liked” on social media

than others

That’s why different industries choose different tools and approaches

Automotive: Building Upper-Funnel Brand and Model Awareness

Auto shoppers go online for research and recommendations...

“We know that more than 90%of folks are doing their auto research online.”—Jon Brancheau, VP of Nissan marketingat Nissan North America

...and are influenced by social media in a number of ways

Automakers have found particular success in building product awareness

“Social works best in the upper part of the funnel. That’s not to say there aren’t specific initiatives you can apply in the lower funnel, but we find social is great to build brand consideration with different audiences.”

—Carolin Probst-Iyer, manager of digital consumer engagement at Chevrolet

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Auto brands use social media to drive conversation and build excitement

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The Nissan Versa Road Trip contest supported the model’s launch

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“The level of engagement has exceeded our expectations in terms of the numbers of people who have engaged and shared with their friends.”

—Jon Brancheau, VP of Nissan marketing at Nissan North America

BMW’s “0 to Desir3” encouraged aspirational interest and brand advocacy

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“It depends, but predominantly [social media] is more about engagement, sentiment and building a base of brand advocates thanit is about a lead to a dealer.”

Image courtesy of BMWBLOG.com

—Kate Alini, social media and emerging technologies managerat BMW of North America

Travel: Building Loyalty Through Outreach and Customer Service

Travel brands

must directly and quickly address reputation and customer service issues

They were early adopters in using social media for customer outreach

Image: Stuart Miles/FreeDigitalPhotos.net

Airline and hotel brands focus on customer service to build loyalty

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Reviews on social sites carry weight with travelers; hotels monitor them closely

Hyatt and Marriott use social media to engage with valued guests

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The airline industry is already among the most responsive on Twitter…

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KLM used a “Surprise” campaign to build goodwill and loyalty

“Treating customers as actual ‘friends’ by being open, transparent and authentic, we hope to receive valuable feedback, co-create with followers and answer their questions with our 24/7 support on social.

Image courtesy of KLM

—Anna Ketting, manager of social media at KLM

Retail: Inspiring Shoppersand Rewarding Fans

Among US retailers on Facebook, promo activities are far more common than commerce efforts

Most major retailers have closed down Facebook commerce operations

What went wrong?

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More than half of consumers are concerned about safety

Oscar de la Renta and Bobbi Brown Cosmetics use Facebook exclusives

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Younger users could hold the key to success on Facebook

The death of Facebook commerce may be greatly exaggerated

Pinterest holds potential for retailers

Image-sharing is powerful, but the path to monetization is unclear

Regulated industries face a unique set of social media challenges

“Brands that have more restrictions and regulations need to be more creative with the way they’re leveraging social media channels than some consumer product companies.”—Paul Dalessio, senior vice president at Fleishman-Hillard

Financial Services:Building Strategic Personal Relationships

In the financial industry, it’s all about who you know

Image: Nutdanai Apikhomboonwaroot/FreeDigitalPhotos.net

Financial reps are using social media to establish stronger relation-ships

Financial brands are also using social media to cultivate new business

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Financial services firms put high priority on personal-relationship development

Charles Schwab uses @Schwab4RIAs to communicate with investment advisors

“Before we launched the Twitter channels, we partnered closely with our compliance and legal teams to assemble policies and procedures that would keep us within regulations.”

—Lindsay Tiles, director of corporate public relations at Charles Schwab

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Guardian Life works with SocialWare to help agents use social media

“We have offices around the country that are coming back saying that the No. 1 source of new referrals into the business is social media.”

—Steve Holstein, CMO of Guardian Life Insurance Company of America

Image courtesy of Guardian Life Insurance Company of America

Pharmaceuticals:Fostering Education, Information and Community

Internet users seek health-related information and community online

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But the pharmaceutical industry faces tall regulatory hurdles online

Image: scottchan/FreeDigitalPhotos.net

“The adage ‘everyone wants to be second’is still at play, as brands watch eachother and observe the FDA’s reaction tovarious social experiments.” —ComBlu, “The State of Online Branded Communities”

Pharma companies are using social media to educate and inform

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Pfizer introduced the “Get Old” project to raise awareness of aging issues

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Image courtesy of Pfizer

The “Lilly Pad” blog supports government affairs and policy initiatives

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“We don’t talk about products or even have an in-depth disease-state conversation without getting special permission through our lawyers and other powers that be.”

Image courtesy of Eli Lilly & Co.

—Greg Kueterman, director of corporate communications at Eli Lilly

Sanofi tapped its influencer network during an insulin pen recall

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Outreach to carefully cultivated influencer community of bloggers, community managers and advocacy organizations

Communicated details about the recall of the Apidra® SoloSTAR® Pen and where to go for more information

Integrated efforts with other online media, including Twitter and paid search and sent email and direct mail to prescriber base and pharmacists

Reached 25,000 people within 24 hours

Though uses may differ, social media best practices cut across industries

Image: Danilo Rizzuti/FreeDigitalPhotos.net

1) Listen first and listen often2) Create a solid strategic plan3) Be honest and transparent4) Involve the whole organization

5) Develop good relationships with legal and regulatory advisors

6) Give careful thought and effort to measurement

Key Takeaways

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A shotgun approach won’t work. Strategies and tactics are industry- and company-specific. Do what works best for you and focus on doing it well.

Campaigns are consolidating around top platforms, but there is room for growth. Look beyond Facebook and Twitter if and when it makes sense.

Campaigns that add value get the most traction. What does the audience want and how can you give it to them?

Best practices cut across industries. Strive for consistency, transparency and measurability.

Extreme GrowthAccording to ComScore, Pinterest is the fastest growing social network in both unique visitors and clicks from search engines. The network saw +4377% growth between May 2011 and May 2012. Pinterest users were found to spend more, buy more items and conduct more online transactions than other social media buyers.

Site EngagementPinterest ranks behind only Facebook and Tumblr for user engagement time. Many users describe Pinterest sessions as addictive, leading to 98 minutes per month for the average user.

Traffic Referrals In June Pinterest scored its highest referral traffic yet, surpassing Bing and Google (referral) for the first time. It now ranks only behind Facebook, Yahoo, and Google (organic).

WHY PINTEREST?

BY THE NUMBERS

Additional Source: Tech Crunch, Shareaholic

Lowe’s does an excellent job segmenting their boards for specific user needs and interest areas. Holiday themes (Christmas & V-Day), passion subjects (Pets & Crafts), product/room specific (Lighting, Bedrooms, Bathrooms). They even leverage sponsorship by featuring NASCAR driver Jimmie Johnson’s Instagram pics.

LOWE’S HOME IMPROVEMENT

Unique Feature Gift card board drives retail connection with 8K+ followers.

PINTEREST FACEBOOK INTEGRATION

THANKYOU

ABOUT VITRUE

Vitrue is the global leader and innovator of social enterprise software. It offers the industry’s most scalable and secure cloud-based social marketing solution, enabling brands to harness the full marketing potential of social on Facebook, Twitter, Google+, YouTube and emerging platforms. First-to-market with Instagram and Pinterest modules, the award-winning Vitrue SRM platform collectively manages more than one billion social relationships in over 100 countries across more than 4,500 social accounts for its clients. For more information, visit www.vitrue.com, Like on Facebook and follow on Twitter.

Q&A SessionSocial Media Marketing

for Verticals—What Works for Key Industries

eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries

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Transcript of eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries

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