- The 12 Key Wikibrands Statistics to Drive Smart Customer Engagement -

July 2010 @wikibrandsSean Moffitt @seanmoffitt

Business Needs a New Plan

What’s left…

• Operational efficiencies are maximized• Companies have been downsized/rightsized multiple times• Outsourcing labour is tapped• Globalization of markets has been achieved• Media clutter is reaching its upper limits• Technology has created full access to information,

entertainment and peer networks

The Customer Experience is What’s Left

Wikibrands -The new currency fortoday’s marketplace:

- Customer participation- Social influence- Digital engagement- Word of mouth- Online community- Grassroots marketing- Connected media- Member collaboration

Equalssuccess in business

Authored by Sean Moffitt and Mike Dover

Published by McGraw-Hill (Dec, 2010) Link

Twitter:@wikibrands

Facebook groupWikibrands

The Wikibrands Rallying Cry

The 12 Key Arguments for Building Your Wikibrand…Tomorrow

I. Wikibrands Win

“Social” is not media, tools or technology, this is about success in business:

Engaged brands drive value +18%

Non-engaged brands decrease in value -6%

Source: Interbrand 2009 Best Global Brand s report

II. Customer Want

Don’t be fooled, people want brands in their lives…just on their terms:

- 85% of people want companies engaging with their customers in social media

- 56% of people feel a stronger connection with those companies they interact with in social media

- Twitterers are three times more likely to embrace brands than average population

Source: Infogroup/ORC/Edison Research

III. What the C-Suite Wants

C-Suite Interest – The CEO's #2 and #3 priorities are customer service and experience; advertising and promotion rank #12 and #14.

To quote and repurpose James Carville, social business and social media is about the customer, stupid.

Source: Microsoft Roundtable Study

IV. Where Engagement

Now Happens

Shifting Conversations – just four years ago, 80% of online engagement happened on the originating website, now 80% happens away from the originating website.

Now, to be noticed and talked about, you need to reach “out there” to be relevant.

Source: Hubspot , 2007-2010 study

V. Chaos

Lack of Focus -Less than half of businesses have articulated a strategy for online customer engagement.

78% don't have an employee policy for use of social media.

Source: Business.com and Manpower

VI. A KnowledgeGap

Knowledge Gap: We lag our customers at understanding the rules and tools of playing this new game.

71% of marketers are less/only equally familiar with the use of social media tools than their customers.

Source: Commotion Study

VII. The Agency Gap

Agencies aren't Delivering the Goods - 82% of executives and managers believe their agencies need to radically transform themselves to adapt more competitively to this wikibrand world.

VIII. A Media Gap

People spend 25% of media time online, it gets only 12% of the budget.

Online Canadians are spending 18 hours online each week (higher than TV).

We’re spending 82% more time on social networks than last year.

Source: eMarketer/Ipsos Reid/Nielsen

IX. Key Ingredients

A Mix of Culture, Strategy and Hard Work – in order of priority, the top 6 needs of an effective social business are:

- Listening Culture- Content Plan- A Strategic Focus- A Customer Focus - Supporting Corp. Culture - Measurement

A majority of business fail in social spheres attributable to these reasons.

Source: Agent Wildfire, The 2010 Buzz Report

X. Finally, A Tipping Point

Current Relevance –

The top CMO initiative this year, for the first time, is investing in digital marketing programs.

84% expect to spend more in money and resources this year in online customer engagement programs.

Source: 2010 CMO Council/Agent Wildfire’s 2010 Buzz Report

Wikibrands

XI. Collaboration changes everything

Marketing has had a gift drop in their lap:

Marketing/brand management is the lead function in charge of customer engagement/online advocacy programs.

66% believe the "marketer" will become much more important within a corporation by leveraging new customer engagement strategies and tactics.

67% believe mass customer collaboration will radically change everything we do in marketing and sales.

Source: Agent Wildfire’s 2010 Buzz Report

XII. The Value of Customer Contribution

Fans and Evangelists can provide amazing value:

Advocacy – engaged customers are 82% more likely to recommend brands than customers

Content – 68% of people believe customer-created ads are more customer-friendly/58% believe they are more creative than agency-created ads

Support – self service customer and peer-to-peer forums can be 48 times cheaper than contact centres

Perception – 89% of people believe engaged brands are truly concerned with what they have to say

Source: AMA/Forrester/Communispace

We know this world cold

We live this stuff everyday…

Wiki Brand Strategy/Consulting - Making Sense of a Participation Marketplace

Types of Strategy & Consulting Projects Exec. Wikibrand Strategy Development Non-Traditional, Grassroots Planning Brand Story and Lingo Development Social Innovation Development Programs Content, Listening, Governance Infrastructure Implementation Support Speaking, Workshops, Coaching

Perfect For: CEOs/COOs/CIOs Head of Marketing or Communications Senior company executives Head of mid-sized companies/start-ups Product developers Heads of innovation/research/strategy Change agents Customer service owners

Let’s Start The Conversation…Inquire: spreadtheword (at) agentwildfire.com

Phone: 416-255-4500 x226

URL: www.AgentWildfire.com Blog: http://BuzzCanuck.typepad.com/

www.spreadslikewildfire.com

Explore: The Buzz Report (e-newsletter)Signup at www.AgentWildfire.com

Learn: Executive WOM Seminars