Yesterday I attended a conference run by social media and web agency Arena Quantum (I’m currently talking to them about one project and have done some press release copywriting for them in the past) at which they launched their new social media unit 247 (headed by Malcom Devoy). The speakers were Amy Kean of IAB, Chris Moore (Domino’s Pizza UK and Ireland Chief Executive Officer) and Facebook’s Stephen Haines. Here are some notes on what I learnt from:
How Social Media is Affecting Business Results
- “In 2009, more data will be generated by individuals than in the entire history of mankind through 2008”- Andreas Weigend
- The traditional marketing funnel has been turned around. Now one tweet can drive a lot of action.
- The new communication models are owned by consumers, unregulated, influential and accessible.
- It’s more important than ever to “Sell the sizzle not the steak”
- People are ten times more likely to purchase something from an e-commerce site if they arrive there by social media.
- For loyalty, immediacy, regular updates, good content and company ethics are important.
- Spoke about our societies obsession with social media.
- She also quoted an ISBA study into brands use of social media. The most popular use of social media by ISBA members was as a PR tool to reach bloggers and online influencers (69%).
- IAB fact: 13% of all online display advertising is now in social networks, two years ago they didn’t even measure it.
- 1/4 of 18-34 year olds log onto social when they wake up and 50% log on just before they go to bed.
- 4% of the study had seen pictures of a funeral on a social networking site.
- When Michael Jackson died 58% of people found out from a news programme, 12% in person and 12% on social media.
- Customers want brands to be professional and friendly above all else.
- 1/5 of people complaining to a brand on Twitter or Facebook want a response within an hour.
- 30% of the study updated their Facebook status during X-Factor and 65% watched social networks at the same time as the programme.
- The more obsessed people are about something the more likely they are to recall the adverts in the breaks.
- Loyalty lessons from Lady Gaga
- Three examples of using obsession to a businesses advantage are Albion’s Oven who use Baker Tweet, mylook and RNLI.
- 600 million people use Facebook for 28 minutes every day.
- Facebookers are all real people, user is priority.
- Financial organisations may not have a presence but they’ll still be being talked about.
- Facebook has 14million unique users every day.
- The costs of running a tv ad campaign compared to a Facebook ad campaign are enormous.
- Facebook talked to Olympic organisers but explained that what happens on the page depends on the users.
- Every brand gets negative comments, it’s about how you deal with it.
- Starbucks are not Facebook’s biggest spender.
- You get a 4x better response to friend advocacy than paid for advertising.
- The average person has 188 friends on Facebook.
- Brand are getting more page ‘likes’ than visits to their actual sites and it’s going up.’
- Facebook in the US is 8 months ahead of the UK.
- They’ve started introducing Facebook credits in Target in the US and it’s proving popular, will soon see in the UK.
- Great examples of Facebook practice include Starbuck’s, Oreo, Coca-Cola and Levi’s Jeans friend store.
- (You can see Facebook’s new heatmap of connections that Stephen used in his presentation above)
- In 1998 Domino’s sold its first interactive pizza.
- It’s iPhone app has made nearly £1million.
- The blackberry app released last week has made £37,000 before any advertising.
- Their android application is about to be launched.
- 50% of people who go to the Facebook page convert to fan status.
- 43% of sales in the UK are due to e-commerce.
- Most of the Facebook fans are from Manchester.
- They operate smaller local Facebook pages in places like Plymouth, that offer their own deals.
- The video disaster in 2009 affected real sales and the effects may have been lessened if they’d acted quicker on social media.
- It’s important to respond to problems messages where they originated. You can then turn these non-believers back into advocates.
- 3,198 fans came from Britain’s Got Talent advertising.
- Domino’s Facebook followers are 35% 18-24 year olds.
Notes from the questions to the panel
- The biggest spend for Facebook development in 2011 will be on mobile technology.
- Online + tv will be merging but panellists were dubious about the effects.
- Wasn’t a massive social media response during the World Cup.
- Biggest social media challenges for ISBA members: ROI measurement, lack of control, strategy and where does social media sit in the company.
- Agencies should work with all teams in a business not just an individual.
- For B2B and finance there are challenges with legal/compliance but social media efforts can be fun like the new Lloyds campaign.
- Facebook is aware of their social responsibility to individual’s privacy.
- It’s a bit of a paradigm to ‘friend’ brands but people are happy to be entertained and get money off.
- One size doesn’t fit all for brands using social media.