Wednesday, August 8, 2007

the power of social media for brands

mike murphy, vice president, media sales, facebook

1. the value of social media to people
2. opening your platform
3. a working model
4. the new roi

what is social media?
social media is active sharing online

the filter factor
massive amounts of content
friends/community are the filter

140 people define what products, what’s news

the influence of friends

facebook: a trusted environment


mark zuckerberg, a 19-year-old from harvard founded facebook

privacy control: must exchange permissions to see more info about me

one vast network of 50,000 networks

more and more value the more your friends use
creates value for everyone

make brand part of a network
opens brands to entire community

hackathon: engineers present their ideas
best idea gets pushed to the site

number 1? photo sharing site

f8 platform
30,000 developers and over 1500 applications

behavior benefits for marketers

very vocal community
more passionate when they know that the opinion they share changes something

how do you leverage the brand around handraisers?

1,000 respondents in 29 minutes

403,211 consumers have victoria’s secret pink in their profile
16,293 consumers have levi’s in the profile

taking 200 words that best define your brand for people who are closest to you

every 48 hours, users are updating their profile
using a brand to help define your brand

there’s a lot of noise in the marketplace about viral marketing
there’s a lot about why; there’s not a lot about how

a working model

1. create
2. seed
3. connect
4. spread
5. discover

a great idea wins

“i don’t hate advertising. i just hate advertising that sucks”

advertising is a four-letter word

if the content becomes so meaningful, it’s no longer a cost: it’s a benefit

pepsi: design a can campaign
target: catalog distributed to college students

smile state
crest whitestrips
50 universities closest to a wal-mart
premiere screenings and concert for biggest community around this
exponential growth in sales at the wal-marts

2. seed the content
make it available and hope that it takes off

each connection creates 260 viral impressions?

the power of share is so valuable

discover a richer environment to collect data and insights

gender, age, geography, network type, graduation year, activities, interests, favorite music

the new roi: return on involvement
creative involvement: connect with people who identify with your brand
trusted referrals: give a reason to share
go viral: watch your message spread
discover more: get new consumer insights

leverage what comes out of it

3. best practices

be a part of the experience. don’t scream from the sidelines. don’t be disruptive; be inclusive. it’s a great experience to share your brand

maintain a daily dialogue. over 50% of our users are on our site every day

instant information from a qualified group of people

it’s not everything to everybody. it’s a snapshot

create a panel

the community polices content

the difference between a myspace user and a facebook user
facebook: info flow for people you know
myspace; profile for people you’ll never meet

we have the ability to approve or reject advertising

we think it’s better to turn away business than for it to have a negative effect on the community

what is web 3.0?
web 2.0 + mobile 1.0
there’s an amazing opportunity to create collective intelligence

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