how to get social business advantage in 2012
TRANSCRIPT
How to Get Social Business Advantage in 2012
#lithcast
1
Lithium, a leading provider of social customer solutions, partnered with the CMO Council to survey over 1,000 consumers and 120 senior marketers to discover how each approach social media.
We found significant gaps between what consumers expect from brands online, and what brands deliver. Social business advantage in 2012 will go to those marketers who close the gap sooner rather than later.
Download the full whitepaper
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Read on for finding highlights…
Lithium sponsored CMO Council study
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consumers are social…
63%
“I search for others with similar problems online when I need help”
46%“I want incentives, promos and rewards”
60%
“I want interaction with peers on Facebook”
55%
“I want product knowledge”
@katykeim @LithiumTech
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…brands aren’t there yet.
60%63%
9% 22%25% 29%46%
55%
Consumers search for others online with similar problems when they need help
Consumers want interaction with peers on Facebook
Consumers want product knowledge”
Consumers want incentives, promos and rewards
consumers
brands
@katykeim @LithiumTech
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social advantage in 2012 will go to the brands who close the gaps
consumers
brands
@katykeim @LithiumTech
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better experiences
deeper engagement
(with each other and the brand)
purposefulinteraction
greaterreward
bottom line: consumers want more from brands online…
@katykeim @LithiumTech
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“I use social media to stay engaged with brands I love”
“Because of social media, I’m more likely to try new things based on a friend’s advice”
“Because of social media, I encourage my friends to try new products”
“I like brands on Facebook to show I’m a fan”
32%
38%
72%
74%
80%
“I use social media to say nice things about my brand experiences.”
…and they use social media to do good things for the brands they love
@katykeim @LithiumTech
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peer-to-peer
engagement
social support
ideation gamification
Your customers want to talk to each other—make it easy for them.
Consumers expect help online fast—give it to them.
Consumers want to contribute—ask them for their ideas.
Your customers want recognition and reward—give them ways to level up.
4 ways to close the gap
1 2 3 4
@katykeim @LithiumTech
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close the gap with
peer-to-peer engagement1The Problem Brands don’t yet realize how much consumers want to connect over the brands and products they love.
The Solution Enable peer-to-peer engagement
The Advantage Word of Mouth Marketing—consumers readily use social media to spread the good news about your products.
80%60%
9%
of consumers try new things based on a friend’s
advice
Encourage friends to try new products
of consumers want to connect with each other in social media
of brands think so.
74%@katykeim @LithiumTech
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We built our Beauty Talk
community on our website and,
as we opened our doors, it was flooded
with clients dying to talk about beauty
with each other. It was exactly what we
wanted. What we found was that clients
were not only trying to talk with us, they
were trying to talk with each other. And
they were actually engaging in ways we
had no idea they would.
-Bridget Dolan, VP of Interactive Media at Sephora
case in point: Sephora1
@katykeim @LithiumTech
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close the gap with
social support2The Problem Brands underestimate consumers’ appetite for solving their own problems.
The Solution Get serious about Social Support
The Advantage It costs between $6 and $75 to resolve customer issues over the phone. It costs as little as $.05 to help customers find answers online. 63%
Consumers who look for help online from others like them.
24%Consumers who want to help online
“I expect service with in 24 hours”
“Great service online keeps me loyal to a brand”
47%
33%
@katykeim @LithiumTech
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case in point: AT&T2
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case in point: Hewlett Packard2
@katykeim @LithiumTech
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close the gap with
ideation3The Problem Brands aren’t tapping their social customers for product ideas.
The Solution Ideate with social customers
The Advantage A real-time, always on focus group that will drive better, faster innovation for the brand.
of social customers expect to share product ideas on Facebook.
of brands ask consumers to help them innovate on Facebook.
41%
9%
@katykeim @LithiumTech
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case in point: National Instrumetns3
2,400ideas submitted
47,800 voteson product ideas
9.470 customer comments on ideas99,100 visitors to the Idea Exchange
45,500 uniqueLabVIEW 2011 beta includes 13 new Idea Exchange features
@katykeim @LithiumTech
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close the gap with
gamification4The Problem Consumers know social media is a two-way street. They expect more rewards than they’re getting.
The Solution Gamify the social experience.
The Advantage
of consumers expect incentives and rewards when connecting with brands online of brands offer social customer incentives and rewards
46%
7%
Higher customer satisfaction
Increased advocacy
@katykeim @LithiumTech
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case in point: giffgaff3
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We do this well…call them Superfans
55.95%
on averagesuperfans generate
of all community content
superfans consist of
<1%of communitypopulations
there are
>50,000in lithium communitiessuperfans
@katykeim @LithiumTech
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we build brand nationsvibrant online communities full of passionate social customers
@katykeim @LithiumTech
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A personalizedinvitation…
lithium.com/brand-report
… to a conversation with Lithium
Request a Lithium Social Media Monitoring (LSMM) report on your brand—we’ll tell you • who’s talking • what’s being said • where the buzz is• how loud it is• emerging trends • how you stack up against the competition
@KatyKeim @LithiumTech #Lithcast