FollowFridays - The Limitations of Social Media
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The document discusses the limitations of social media for advertising and branding. It provides five lessons: 1) You do not control your brand on social media. 2) Social media is just a tool. 3) Word of mouth is not a cure-all. 4) Word of mouth is never better than your actual product. 5) Social media is not actually free for companies. It argues that companies need to focus on the customer experience and creating high-quality products in order to generate effective word-of-mouth marketing through social media.
FollowFridays - The Limitations of Social Media
- 1. The Limitations of SOCIAL MEDIA
- 3. The Advertising Anachronism The Limitations of Social Media Takeaway Tweets The Social Framework
- 4. 01. THE ADVERTISING ANACHRONISM
- 5. “Once in front of a screen, be it on a desktop, laptop, or increasingly a handheld device, we ‘log in’ – not into a system, but into a community.”
- 6. “Once in front of a screen, be it on a desktop, laptop, or increasingly a handheld device, we ‘log in’ – not into a system, but into a community.”
- 8. 02. THE LIMITATIONS OF SOC IAL MEDIA
- 17. Lesson 1: In the Age of Social Media, You do not Control Your Brand.
- 20. Lesson 2: Social Media is Nothing but a Tool.
- 22. Lesson 3: Word of Mouth is not a Cure-All.
- 24. Lesson 4: Word of Mouth is never better than your Product.
- 26. Lesson 5: Social Media Are Anything But Free.
- 27. SOCIAL BUEDIA IS M TOOL ING T A NOTH
- 30. check Social Media Marketing 38 fans 8 followers 182 visits 78 views 1 like 0 retweets no comments no ratings
- 32. 4 Possibilities Screwed-no-matter-what a-lot-to-talk-about What-to-talk-about Superior user-good stay away? talk about your product find something think twice, really? and talk back to talk about and fail fast
- 35. What-to-talk-about Eastpak Padded Pak`R Limited Edition Rock Bag The Hives
- 38. THE VALUE OF FANS IS DEBATABLE
- 39. Fans & followers are the people formerly known as a
- 40. To a brand’s status updates is the new “Time for a beer (or pee)” moment.
- 41. How many of your followers are actually “following” what you share?
- 42. a d v o c a vs. t e
- 44. 233,906 friends sacrificed 1,636 stories shared 375,801 fans 430,922 fans 1,565 followers 10,108 followers s people who take opinion 24% of customers of this 46% brand seriously people who believe the brand 31% is honest and sincere in its 62% product explanations
- 45. 233,906 friends sacrificed 1,636 stories shared 375,801 fans 430,922 fans 1,565 followers 10,108 followers s people who take opinion 24% of customers of this 46% brand seriously s Gimmick ze people who rginali e brand mabelieve th 31% is honest anrusit !cere in its td sn 62% product explanations
- 46. “How-to movies” and real product demos “How AXE helps to get girls” ads
- 47. 197,792 fans 484,971 fans 7,417 followers 6,096 followers people who talk about this brand people who will defend the brand if someone disparages it
- 48. 197,792 fans 484,971 fans 7,417 followers 6,096 followers people who talk about this brand Func tionality beats fu wily ! people who nn ldefend the brand if someone disparages it
- 49. WOM IS NOT A CURE-ALL
- 50. The theory of influence ? ! ! ... passive influencer active influencer = reputation = presence
- 51. The theory of influence ? ! ! ... passive influencer active influencer edia via s ocial m
- 52. Meet “my possible future bike”
- 53. Meet “my possible future bike”
- 54. Whether I’ll buy it largely depends on the bike’s “WOM equity” “Word-of-mouth equity” is an index of a brand’s power to generate messages that influence a consumer’s decision to purchase. From “A new way to measure word-of-mouth marketing”, McKinsey
- 55. How to measure WOM equity? close/trusted relevant large/dispersed irrelevant network content volume x impact = WOM equity sender source influential experience not influential hearsay
- 56. In the case of “my possible future bike” close/trusted relevant large/dispersed irrelevant network content volume x impact = WOM equity sender source influential experience not influential hearsay
- 57. The importance of “managing” WOM Equity The incremental gain from outperforming competitors with superior TV ads is relatively small. That’s because all companies actively manage their traditional marketing activities. With so few companies actively managing WOM, the potential upside is exponentially bigger. From “A new way to measure word-of-mouth marketing”, McKinsey
- 58. How can a brand impact its WOM equity score? Generate Intentional WOM Stimulate Consequential WOM Focus on Experiential WOM the event, site, game or contest the pass-on effects of a “cool” real experiences generate that hopefully generates WOM campaign can generate WOM the most successful WOM
- 59. Why “experiential WOM” beats any other form of WOM Marketers tend to build campaigns around emotional positioning, yet consumers actually tend to talk — and generate buzz — about functional messages. From “A new way to measure word-of-mouth marketing”, McKinsey
- 60. WOM IS NEVER BETUER T THAN YOUR P ROD CT
- 61. Volvo’s C30 really is a “green” car. slide? remember this
- 62. Volvo’s C30 really is a “green” car. slide? remember this so is this Fiat
- 68. The Kano Model satisfaction excitement performance need not need fulfilled fulfilled basic dissatisfaction
- 69. p erfect It’s about your product, stupid! To turn customers into an effective marketing vehicle, companies need to outperform on product and service attributes that have intrinsic WOM potential. From “A new way to measure word-of-mouth marketing”, McKinsey
- 70. e How to give your customers a better experience? the sam pply es a categori
- 71. Meet the bank “that doesn’t suck” Screwed-no-matter-what
- 78. SOCIAL MEDIA ARE ANYTHING BUT FREE
- 79. 3 Ways of Investing in Social Media Investment in Culture Investment in Good Ideas Investment in Data
- 83. “My mom has zero buzz, but when she says something, I listen”. Tony Hsieh, CEO Zappos.
- 84. Albion’s Oven, 2-4 Boundary Street, Shoreditch,London
- 87. Craig W. ! Mayor of Berkeley Station ! Loves to travel,has the jetsetter badge, as well as the gym rat badge
- 91. BART has simply given its customers a better experience. 19% rode BART because of a 43% had recommended 4sq recommendation a destination near BART 38% were having “more fun” 17% connected with friends 14% rode BART more 23% earned frequent rider badge because of their interaction with 4sq
- 92. 02. THE SOCIAL FRAMEWORK
- 93. the time watchin once spent g has been television toward a redirected ctivities are more that about engagin g
- 94. iOS Social Games are as Prime Time as Prime Time Television
- 95. We are t raining our brai to pay a ns ttention to the cr ap
- 97. Try, fail, learn, adapt, learn, try, learn, adapt, succeed.
- 99. @AdNerds AdNerds If you think apps are not suited for your company, you’re suffering from theory-induced blindness http://amzn.to/923R0L #FollowFridays @AdNerds AdNerds See your company as an information-based service. Get to know your customers, offer a better experience http://amzn.to/bXSLix #FollowFridays @AdNerds AdNerds You have to overdeliver in order to generate WOM! http://bit.ly/a8KUvV #FollowFridays @AdNerds AdNerds Branding today is a whole different game: you need to make sure you’re backing it up in the market place http://bit.ly/bFPxkR #FollowFridays @AdNerds AdNerds Experiential WOM beats Consequential WOM! http://bit.ly/a8KUvV #FollowFridays
- 101. thanks you!