Wednesday, November 28, 2012

Draft of notes from #smwf - Social Media Forum, November 27, 2012


What matters on social? Which metrics are relevant?

"Social engagements" are found to be correlated with sales

Therefore, get users to perform a social action

Strategy: maximize engagements and minimize CPE

Social pyramid
- start with EA-to-consumer messages
-- minimize user friction, e.g., registration; may conflict with creativity
-- make marketing fun, not corporate messaging
- celebrity consumer messages - 10x
- - larger audiences and greater engagement
-- provide value for celebs for their audience
- influencers - created contest for influencers who received preview games - 1700 influencers, 11000 videos, 20 million views
- Friends
-- Walmart gets 1 million engagements per week on Facebook
-- uses Facebook Open Graph to embed social into the product

Lose message control at each level

Shell - journey to 2 million fans

41 million on Facebook for coca-cola
Goal: reputation, not sales
Target: 1 million in 3 years; reached in 3 months, 2 million in 9 months
- Partners - Facebook and Buddy Media
- attracting the right audience with the right message
-- bottom- up instead of top-down like the website
-- driven by audience/message segmentation
54 for Coke, 2 million for Microsoft and Shell, 2nd place
Only 5% of fans go back to page, interaction mostly on news feeds

Which data is most valuable? What is the audience saying. Top 5% drive most social value. Source of traffic important, especially from social networks
How do proxy measures impact business measures? Brand awareness, sales
App strategy on Facebook important - fans share with their friends
Tracking sentiment of influencers, e.g., via Klout, which is useful but not perfect
Want to be careful not to respond immediately, but to take step back and evaluate - isolated problem, indicator of larger trend?
What do social interactions mean for the brand?
Much of social data are the words/language, but difficult to measure en masse
Future: simpler, integrated, generates insight, location- based

- Responsibilties?
-- PACE: process owner / approver / contributors / executors
- Spectrum of risk? Risk is not all equal - big brands vs.. small brands
- Impact? Financial / likelihood / duration / mitigation / reputation
-- Grade situations 1 through 4 / 1 is normal noise / 2 gets your attention, outside norm / 3 significant / 4 catacylsmic
- Characteristics - facts about the situation
- Stakeholders
- insight: parents wanted diapers to be more like underwear
- launched thinner diaper
- 8 billion diapers launched in US
- 1 person launched Facebook campaign to restore old diapers
-- claimed chemical burn caused by diaper
- eventually cleared by CPSC
- co. Engaged mommy bloggers and other influentials
- when you engage online, what are you trying to accomplish?
- Social media allows movements to often be self-correcting

Social strategies for brands
Rise of the social consumer
- social media adoption unparalleled in history of marketing
Social strategy
- Driven by content
- Grow fan base with paid / engage with owned content / monetize with earned media / repeat
Social drives word-of-mouth at scale
Keys to success
- grow a community of followers
- continuously engage followers
- take an integrated approach
- measure your success, e.g., Rokenbok transformed from traditional retail channels to 100% online, 50% just from YouTube

Social media influences consumers to act
Consumer action has significant impact on extending reach and creating advocacy

Facebook apps
- drive likes
- customer acquisition via forms
- increase virality
- improve Edge ranking
- sell product
- create unique customerexperience beyond newsfeed
Types of apps
- Tab apps (not typically Open Graph) - campaign-based, increase likes
- Canvas apps, e.g., Famrmville, Spotify - build long-term audience
Most Facebook content consumed in newsfeed. Need to market an app to generate audience
- templates vs. customization
- self serve vs. full serve
- make it social
- be exclusive
- use facebook's technology
- sell and promote product
- be entertaining and interactive
- reward your fans
- go behind the scenes
- acquire customers
- provide local information
- let your fans decide
- keep it simple
- use Facebook to drive web traffic - have apps interoperable
- make sure app has focus

Sunday, July 22, 2012

Another ridiculous misunderstanding (and resultant misuse) of statistics: Move Over Men: Women are Now the Primary Breadwinners

We (by which I mean "I") are always on the lookout for interesting societal trends, especially those that go against historical or traditional patterns.  For example, it's clear that women are playing more of a leading role in household finances.  In over 20% of two-earner households, I had heard, the woman earned more than her male partner, whether due to higher rates of male unemployment, educational and professional parity, or other reasons.  It would seem logical that the figure would increase over time.

Therefore, when I saw a headline, "Move Over Men: Women are Now the Primary Breadwinners," I thought that that seemed to be a rather quick demographic shift - from mid-20% to over 50%.  Intrigued, I decided to take a look.

The details in the story initially seems to prove out the headline: "53% of the ... women surveyed are primary breadwinners."  Since 53% is more than half (duh!), the designation "primary breadwinners" seemed justified.

Of course, one of the rules of understanding something that you are reading is: Keep Reading.  The stated reasons for this phenomenon were: "partners who lost jobs during the financial crisis, divorce and women deciding to marry later on in life."

What this implies is: Women are in the primary breadwinners in households in which there MAY OR MAY NOT be another breadwinner!  

The article itself bears this out: it cites a statistic that "22% of women who are married our living with a partner report being the one who makes the most money." (Gee, didn't I already say that earlier?) 

If a sample (made up entirely to substantiate my own argument) consisted of 100 couples, of whom 22 women were the primary breadwinner, and as few as 60 women who are the sole adult in a household (single, divorced, widowed, etc.), then you would have 82 women as the primary breadwinners in a sample of 160 households.  Ergo, 51.2% of the households are the primary breadwinners.  While this would certainly indicate that women could benefit from education in personal finance (as could men!), this hardly justifies the headline.

Call me churlish (I already did), but why obscure a meaningful and useful message with a misleading headline.  Oh, right, to get attention - it got mine!