eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries

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©2011 eMarketer Inc. Victoria Petrock J U L Y 1 9 , 2 0 1 2 Social Media Marketing for Verticals—What Works for Key Industries Krista Garcia Sponsored by:
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Join eMarketer analysts Victoria Petrock and Krista Garcia as they discuss social media strategies and tactics used in the automotive, travel, retail, pharma and financial services sectors.

Transcript of eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries

Page 1: eMarketer Webinar: Social Media Marketing for Verticals—What Works for Key Industries

©2011 eMarketer Inc.

VictoriaPetrock

J U L Y 1 9 , 2 0 1 2

Social Media Marketing forVerticals—What Works for Key Industries

KristaGarcia Sponsored by:

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© 2012 eMarketer Inc.

Talking Points

1) How are marketers in key vertical industries using social media to achieve specific goals, and why?

2) Which social media tactics are a good fit for some industries but not for others?

3) How can marketers in regulated industries make the most of social media marketing?

4) What can marketers in different verticals learn from each other?

Twitter: #eMwebinar

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Social Media Has Become Integral to Marketing

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Social networking is growing both in the US and worldwide

Image: FreeDigitalPhotos.net

eMarketer forecasts that there will be 157.8 million US social network users in 2012, rising to 170.7 million in 2014.

Worldwide, there will be nearly 1.4 billion users in 2012, rising to more than 1.8 billion in 2014.

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Companies in many industries are charging ahead with social media...

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…and using it in a variety of ways

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“There’s no one specific use for social media. It serves many masters. ...You want to shore up brand loyalty. You’re trying to promote engagement with the online properties and, of course, awareness and conversation.”

—Andy Murdock, US digital editor at Lonely Planet (Americas)

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But one size does not fit all

Image: Carlos Porto/ FreeDigitalPhotos.net

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Different social media make more sense for different industries

Scale image: vichie81/FreeDigitalPhotos.net

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How and Why Industries Use Social Media Differently

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Factors that help determine social media strategy

1) What am I trying to accomplish?2) Who is my target audience and what are their online habits?3) What type of offering do I have?4) How well does it lend itself to online discussion? 5) How much education must I do to market it?6) How good is my company’s reputation? My industry’s

reputation?7) Are there privacy concerns that might make discussion in a

social forum difficult?8) Are there regulations or other restrictions on discussing it?

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Different tactics are more suited to different industries

“Certain categories work better in social media because social is all about the creation of an identity by posting, then sharing those posts to create community.”

—Jon Kubo, chief product officer at social commerce platform 8thBridge

(But the most effective are the ones that tap the “ME” in Social MEdia)

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Some company types are much more likely to be “liked” on social media

than others

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That’s why different industries choose different tools and approaches

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Automotive: Building Upper-Funnel Brand and Model Awareness

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Auto shoppers go online for research and recommendations...

“We know that more than 90%of folks are doing their auto research online.”—Jon Brancheau, VP of Nissan marketingat Nissan North America

Image: FreeDigitalPhotos.net

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...and are influenced by social media in a number of ways

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Automakers have found particular success in building product awareness

“Social works best in the upper part of the funnel. That’s not to say there aren’t specific initiatives you can apply in the lower funnel, but we find social is great to build brand consideration with different audiences.”

—Carolin Probst-Iyer, manager of digital consumer engagement at Chevrolet

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Auto brands use social media to drive conversation and build excitement

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The Nissan Versa Road Trip contest supported the model’s launch

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“The level of engagement has exceeded our expectations in terms of the numbers of people who have engaged and shared with their friends.”

—Jon Brancheau, VP of Nissan marketing at Nissan North America

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BMW’s “0 to Desir3” encouraged aspirational interest and brand advocacy

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“It depends, but predominantly [social media] is more about engagement, sentiment and building a base of brand advocates thanit is about a lead to a dealer.”

Image courtesy of BMWBLOG.com

—Kate Alini, social media and emerging technologies managerat BMW of North America

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Travel: Building Loyalty Through Outreach and Customer Service

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Travel brands

must directly and quickly address reputation and customer service issues

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They were early adopters in using social media for customer outreach

Image: Stuart Miles/FreeDigitalPhotos.net

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Airline and hotel brands focus on customer service to build loyalty

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Reviews on social sites carry weight with travelers; hotels monitor them closely

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Hyatt and Marriott use social media to engage with valued guests

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The airline industry is already among the most responsive on Twitter…

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KLM used a “Surprise” campaign to build goodwill and loyalty

“Treating customers as actual ‘friends’ by being open, transparent and authentic, we hope to receive valuable feedback, co-create with followers and answer their questions with our 24/7 support on social.

Image courtesy of KLM

—Anna Ketting, manager of social media at KLM

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Retail: Inspiring Shoppersand Rewarding Fans

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Among US retailers on Facebook, promo activities are far more common than commerce efforts

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Most major retailers have closed down Facebook commerce operations

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What went wrong?

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More than half of consumers are concerned about safety

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Oscar de la Renta and Bobbi Brown Cosmetics use Facebook exclusives

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Younger users could hold the key to success on Facebook

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The death of Facebook commerce may be greatly exaggerated

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© 2012 eMarketer Inc.Twitter: #eMwebinar

Pinterest holds potential for retailers

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Image-sharing is powerful, but the path to monetization is unclear

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Regulated industries face a unique set of social media challenges

Image: FreeDigitalPhotos.net

“Brands that have more restrictions and regulations need to be more creative with the way they’re leveraging social media channels than some consumer product companies.”—Paul Dalessio, senior vice president at Fleishman-Hillard

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Financial Services:Building Strategic Personal Relationships

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In the financial industry, it’s all about who you know

Image: Nutdanai Apikhomboonwaroot/FreeDigitalPhotos.net

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Financial reps are using social media to establish stronger relation-ships

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Financial brands are also using social media to cultivate new business

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Financial services firms put high priority on personal-relationship development

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Charles Schwab uses @Schwab4RIAs to communicate with investment advisors

“Before we launched the Twitter channels, we partnered closely with our compliance and legal teams to assemble policies and procedures that would keep us within regulations.”

—Lindsay Tiles, director of corporate public relations at Charles Schwab

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Guardian Life works with SocialWare to help agents use social media

“We have offices around the country that are coming back saying that the No. 1 source of new referrals into the business is social media.”

—Steve Holstein, CMO of Guardian Life Insurance Company of America

Image courtesy of Guardian Life Insurance Company of America

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Pharmaceuticals:Fostering Education, Information and Community

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Internet users seek health-related information and community online

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But the pharmaceutical industry faces tall regulatory hurdles online

Image: scottchan/FreeDigitalPhotos.net

“The adage ‘everyone wants to be second’is still at play, as brands watch eachother and observe the FDA’s reaction tovarious social experiments.” —ComBlu, “The State of Online Branded Communities”

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Pharma companies are using social media to educate and inform

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Pfizer introduced the “Get Old” project to raise awareness of aging issues

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Image courtesy of Pfizer

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The “Lilly Pad” blog supports government affairs and policy initiatives

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“We don’t talk about products or even have an in-depth disease-state conversation without getting special permission through our lawyers and other powers that be.”

Image courtesy of Eli Lilly & Co.

—Greg Kueterman, director of corporate communications at Eli Lilly

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Sanofi tapped its influencer network during an insulin pen recall

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Outreach to carefully cultivated influencer community of bloggers, community managers and advocacy organizations

Communicated details about the recall of the Apidra® SoloSTAR® Pen and where to go for more information

Integrated efforts with other online media, including Twitter and paid search and sent email and direct mail to prescriber base and pharmacists

Reached 25,000 people within 24 hours

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Though uses may differ, social media best practices cut across industries

Image: Danilo Rizzuti/FreeDigitalPhotos.net

1) Listen first and listen often2) Create a solid strategic plan3) Be honest and transparent4) Involve the whole organization

5) Develop good relationships with legal and regulatory advisors

6) Give careful thought and effort to measurement

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Key Takeaways

Twitter: #eMwebinar

A shotgun approach won’t work. Strategies and tactics are industry- and company-specific. Do what works best for you and focus on doing it well.

Campaigns are consolidating around top platforms, but there is room for growth. Look beyond Facebook and Twitter if and when it makes sense.

Campaigns that add value get the most traction. What does the audience want and how can you give it to them?

Best practices cut across industries. Strive for consistency, transparency and measurability.

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Extreme GrowthAccording to ComScore, Pinterest is the fastest growing social network in both unique visitors and clicks from search engines. The network saw +4377% growth between May 2011 and May 2012. Pinterest users were found to spend more, buy more items and conduct more online transactions than other social media buyers.

Site EngagementPinterest ranks behind only Facebook and Tumblr for user engagement time. Many users describe Pinterest sessions as addictive, leading to 98 minutes per month for the average user.

Traffic Referrals In June Pinterest scored its highest referral traffic yet, surpassing Bing and Google (referral) for the first time. It now ranks only behind Facebook, Yahoo, and Google (organic).

WHY PINTEREST?

BY THE NUMBERS

Additional Source: Tech Crunch, Shareaholic

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Lowe’s does an excellent job segmenting their boards for specific user needs and interest areas. Holiday themes (Christmas & V-Day), passion subjects (Pets & Crafts), product/room specific (Lighting, Bedrooms, Bathrooms). They even leverage sponsorship by featuring NASCAR driver Jimmie Johnson’s Instagram pics.

LOWE’S HOME IMPROVEMENT

Unique Feature Gift card board drives retail connection with 8K+ followers.

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PINTEREST FACEBOOK INTEGRATION

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THANKYOU

ABOUT VITRUE

Vitrue is the global leader and innovator of social enterprise software. It offers the industry’s most scalable and secure cloud-based social marketing solution, enabling brands to harness the full marketing potential of social on Facebook, Twitter, Google+, YouTube and emerging platforms. First-to-market with Instagram and Pinterest modules, the award-winning Vitrue SRM platform collectively manages more than one billion social relationships in over 100 countries across more than 4,500 social accounts for its clients. For more information, visit www.vitrue.com, Like on Facebook and follow on Twitter.

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Q&A SessionSocial Media Marketing

for Verticals—What Works for Key Industries

Sponsored by:

Vitrue

You will receive an email tomorrow with a link to

view the deck and webinar recording.

Victoria PetrockKrista Garcia

Learn more about digital advertising with an eMarketer corporate subscription

To learn more: www.emarketer.com/products800-405-0844 or [email protected]

eMarketer publishes more than 120 reports each year. The following are just a few reports about industries and social media:

Social Media for Industries: Assessing Opportunities in Automotive, Travel, Financial Services and Pharmaceuticals

Facebook Commerce: Reaching Shoppers Where They Socialize

Social Media for Travel Marketers: Cultivating Conversation to Capture Customer Sentiment

Worldwide Social Network Usage: Market Size and Growth Forecast