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The Future of Social BusinessRichard Margetic@ByJove
Intuit Proprietary & Confidential
New Technology Introduced
Business response: Do we?
2
There are no
business
proof pointsWe don’t
have time
for it
Traditional
methods still
work
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Time Passes
Business response: How do we?
3
Other
companies
are using itThey must
be finding
some value
We have to
do it to stay
competitive
Business response: Do we?
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More Time Passes…
Business response: How do we optimize?
4
I’m convinced
it’s worth the
timeIt’s
definitely
paying off
Let’s invest
more and do
it right
Business response: How do we?
Supporting technologies proliferate
5
Sound familiar?
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Digital Social is Not New
7
Usenet, ARPANET, LISTSERV, BBS’s morphed into
AOL, Compuserve, The WELL
With the rise of the Web we got Theglobe.com, Geocities, Tripod
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MySpace dominated in 2006
8
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Inflection point
9
www.dstevenwhite.com
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People Spent 6.7 Billion Hours on Social Networks in October
2011
Minutes per day Spend Socializing Offline
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2011 to today
11
835MM
75MM
500MM
27MM
1.19B
350MM
33.25B
3.5B
12
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Social Matures as Business Tool
• Social is no longer seen as having to be mollycoddled to survive. All elements of business are now inclusive of social– From unsure insights to actionable, real time analytics– Real time social data is predictive of NPS– Social activity as predictive of buying behavior (predictive
modeling)– From broad training to targeted training
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Steps
Companies move from…
trepid endeavors,
to tentative investment,
to acknowledged benefits,
to embedded
activity
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Social Stages
Stage 1: TraditionalMarketing, customer support are delivered via traditional platforms. Social engagement and online conversations are not on the radar.
Stage 2: Dabbling in silosMaverick employees break through and begin building and testing programs, but without formal structure.
Stage 3: OperationalizingEmpowered, centralized team begins to formalize and spread social engagement processes and principles across all brands.
Stage 5: Fully engagedFull engagement brings breakthrough business results, increased loyalty, and decreases in marketing fluctuations. All BU’s have 360-degree view of the customer and can readily anticipate their needs. Customer engagement is in the brand DNA.
Stage 4: Real resultsA centralized team exists, but more and more social engagement is being pushed to brands. Team base is engaged and competent, metrics are robust, and executive support is significant.
Social Commerce
Building Relationships
Still
Builds Business
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Relationships are the building blocks of both social networks and business
Transparency
Trust
Credibility
Openness
CareSincerity
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Listen. Hear.
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Listening: Who, What, Where
Who Listening to who’s talking tells you who your advocates are, your influencers, your ranters and your ravers. This forms the basis of all relationship marketing
What What users are talking about gives you your marketing keywords, conversations, messaging points, identifies customer pain points, impacts search results. This is the basis of content marketing.
Where Where customers are talking tells you which platforms you need to create a presence in, market to, amplify messages in and where to put your ad dollars
20
Relationship Marketing
Paid Marketing
Content Marketing
Global Marketing
Social Drivers
1. Make meaningful connections based on shared interests
2. Express themselves
3. Recognition / rewards valued by the community
4. Get advice, validation, and assurance about decisions
5. Solve a specific problem (their own or someone else’s)
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Four Engagement Types
Influencers
Ravers
Experts
Ranters
Highest Priority
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Influencers
Ravers
Experts
Ranters
Highest Priority
Four Engagement Types
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Future of social engagement
Weighted Engagement
Community
Scoring
Brand Site
Ratings
Data Warehouse
Site Analytics
Suggestion Box
Content Marketing
Social 360
CRM Contact Center
Effective Social Commerce
…than
commercialize
social
It’s better to
socialize
commerce…
Measuring Social Impact
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Aggregate Enrich Collate Deliver
Dell’s Social Net Advocacy
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• Provides a single aggregated metric (SNA) - net advocacy of social conversations for easy monitoring and tracking
Aggregated Metric
• Gives the ability to drill-down for various aspect of the business in order to uncover positive and problem areas
Drill-down and Uncover
insights
• Enables conversations of interest to be sliced/diced by categories and delivered to different business managers
Targeted Listening
SNAP
28
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Social Business Index: Overview of Structure
29
Social Business Index
Mass – Sub Index
Velocity –Sub Index
Quantity
Quality
Speed
Direction
Social Web Visits
FMS Web Visits
NPS
Research Metrics MMM
Now Next
Business Metrics
Soci
al N
etw
ork
s
Sentiment
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Social Health Index: Current Look
30
8/12
/201
3
8/19
/201
3
8/26
/201
3
9/2/
2013
9/9/
2013
9/16
/201
3
9/23
/201
3
9/30
/201
3
10/7
/201
3
10/1
4/20
13
10/2
1/20
13
10/2
8/20
13
11/4
/201
3
11/1
1/20
13
11/1
8/20
13
11/2
5/20
13
12/2
/201
3
12/9
/201
3
12/1
6/20
13
12/2
3/20
13
12/3
0/20
13
1/6/
2014
1/13
/201
4
1/20
/201
4
1/27
/201
4
2/3/
2014
2/10
/201
4
2/17
/201
4
2/24
/201
4
3/3/
2014
3/10
/201
4
3/17
/201
4
3/24
/201
4
0
0.2
0.4
0.6
0.8
1
1.2
1.4
1.6
1.42 1.42 1.421.44
1.48
1.41
1.25
1.15
1.04
0.980.93 0.93
0.99 0.99
0.920.89
0.85 0.87 0.89 0.88 0.870.82
0.770.72
0.65 0.660.71 0.73
0.78
0.850.90
0.980.95
Strong metrics from initial campaign
Some decline as engagement relative to reach isn’t sustained; Reach is paid, not getting engagement
Measures taken to address score reduction
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Future of measuring social business impact
• Social Business Index V2
•Connecting the customer offline to online
•Connecting cross device
•Actual influence models rather than algorithmic ones
• Fractional Attribution Models
• Integration of social and enterprise data
31
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Source: Altimeter Social Data Intelligence
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Next Gen Tech
33
Sensors
Wearables
iBeacon
Internet-of-Things
Third Screen
Social Capital
Vanishing footprints
Social Network Analysis
360 Customer View
Quantified Self
Digital Convergence
Digital/Physical BlurOnline Fractional Attribution
Contextual Marketing
3d Printing
Distributed Problem Solving
Business Drones
Personal Robotics
Building Relationships
Will Always
Build Business
Thank You
Questions?