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Beyond Blogs and Social Networks New Technologies & New Ideas December 1, 2005 Jonathan Carson President & CEO (646) 253-1901.

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Presentation on theme: "Beyond Blogs and Social Networks New Technologies & New Ideas December 1, 2005 Jonathan Carson President & CEO (646) 253-1901."— Presentation transcript:

1 Beyond Blogs and Social Networks New Technologies & New Ideas December 1, 2005 Jonathan Carson President & CEO (646)

2 [Private and Confidential]2 BuzzMetrics Overview About BuzzMetrics Proprietary software to identify, gather, process millions of unaided online conversations (forums, blogs, lists, review sites, etc.) BuzzMetrics has performed WOM research and planning for 50 F1000’s. Clients include GM, HP, JetBlue, Comcast, Whirlpool, Mazda, 14 of top 15 pharmas, 7 of top 10 food companies, etc. Recognized leaders: co-founders of Word of Mouth Marketing Association; featured in CBS News, NY Times, WSJ, Economist, NPR, many more. SEPTEMBER 2005: BuzzMetrics acquired by Trendum, emerging competitor backed strategically and financially by VNU. About WOMMA Founded 2004; over 120 member companies. Hugely successful inaugural conference in March Main priorities: Standards & Metrics; Ethics guidelines; industry education.

3 How important are these New Technologies & New Ideas?

4 How important are blogs?

5 A new blog is created every second Source: Technorati

6 How important are social networks?

7 MySpace has 50% more traffic than Google It should surpass MSN and AOL within a few months Only Yahoo will have more Source: Comscore

8 How important are wikis?

9 Wikipedia is #1 online reference site By a long shot Double the traffic of #2 Dictionary.com Five times the traffic of Encarta Source: Hitwise

10 How important are podcasts?

11 5 million U.S. podcast users in 2005 (up 500%) Forecasted to grow to 63 million by 2010 XM and Sirius have about 7mm subscribers… … and a combined market cap of $16 billion Source: Bridge Ratings, Yahoo! Finance

12 How important is photo sharing?

13 June 2205: Flickr had 19.5 million photos, 80% of which are shared publicly At current growth rate, over 75 million photos available for public download by end of 2005 Getty Images, world's largest image archive, has 70 million images for sale… …And a $5.7 billion market cap Source: Internet News, Yahoo! Finance

14 How important are these New Technologies? ?

15 The bigger point: The role of consumers in media and marketing has fundamentally changed.

16 A powerful global conversation has begun. Through the Internet, people are discovering and inventing new ways to share relevant knowledge with blinding speed. As a direct result, markets are getting smarter—and getting smarter faster than most companies. These markets are conversations. -- The Cluetrain Manifesto (1999)

17 [Private and Confidential]17 Word of Mouth: Dominant new marketing force Official WOMMA Definitions What is “word of mouth”? One consumer passing marketing-relevant information to other consumers. What is “word of mouth marketing”? Any marketing effort designed to affect the ways in which one consumer passes information to other consumers.

18 [Private and Confidential]18 Why is WOM an important media channel? Consumers trust WOM dramatically more than other media Editorial47% Advertising53% Word of Mouth67% Factors make you most comfortable purchasing a product? - Mediaedge The website8% Advertisement15% Newspaper/Magazine recommended it22% A friend recommended it76% Best source for advice on a new product: - Yankelovich Television21% Newspaper/Magazine26% Info services (e.g. Consumer Reports)35% Another consumer67% Best source for new ideas about products: - NOP 2005 Editorial40% Advertising50% Word of Mouth92%

19 [Private and Confidential]19 Why is online WOM becoming so powerful 1.) Channel is large and growing 44% of online U.S. adults – over 50 million Americans – are “content creators” [Pew Internet] Virtually all online consumers encounter consumer generated content. 8% of online adults blog; 27% of online adults read blogs [Pew Internet] 2.) Internet increases power of consumer influencers Consumer influencers able to dramatically increase their reach. Consumers seeking help from consumer experts can find them much more easily. 3.) Consumer content increasingly dominates Internet content.

20 [Private and Confidential]20 Consumer content dominates Internet Source: Jupiter Research Jupiter Research found that 26% of top search results for world’s twenty largest brands is consumer-generated.

21 FACT #1: Consumers trust the opinion of other consumers more than they trust advertising, spokespeople, unbiased “expert” third parties, or the traditional media.

22 FACT #2: New technology tools have made it remarkably easy for consumers to create media to share with other consumers.

23 FACT #3: New technology tools have also made it remarkably easy for consumers to find the media created by other consumers.

24 RAMIFICATION: To effectively reach consumers in the future, companies must enter into the global conversation. What’s the first thing you do if you want to enter a conversation? You listen.

25 Four things you can do by listening… 1. See the future… 2. Dissect catastrophes in real-time… 3. Create a hit with no advertising… 4. Understand the language of buzz…

26

27 [Private and Confidential]27 Case Study: Nutrition buzz The Situation Food co’s miss several major nutrition trends b/c have no way to track grassroots, consumer-driven movements. Opportunity Study buzz on nutrition as predictive tool. Solution Identify 500 most influential nutrition consumers and study nutrition issues they talk about most frequently.

28 [Private and Confidential]28 Current trend: Death of Low Carb Percentage of Nutrition Panel who mention “Low Carb”

29 [Private and Confidential]29 Current trend: Death of Low Carb Percentage of Nutrition Panel who mention “Atkins Diet”

30 [Private and Confidential]30 Current trend: Death of Low Carb Percentage of Nutrition Panel who mention “South Beach Diet”

31 [Private and Confidential]31 Current trend: Rise of portion control Percentage of Nutrition Panel who mention “portion control”

32 [Private and Confidential]32 Current trend: Rise of portion control Diets most frequently linked to portion control.

33 Four things you can do by listening… 1. See the future… 2. Dissect catastrophes in real-time… 3. Create a hit with no advertising… 4. Understand the language of buzz….

34 [Private and Confidential]34 Case Study: BuzzMetrics/Pew Political Buzz Three primary research goals: (1) Uncover learnings about political blogs. (2)Study increasing ability of individuals to instigate “civic storms”. (3)Understand affect of civic storms on National agenda.

35 [Private and Confidential]35 Cross media channel analysis 1.) Political Blogs 40 A List political blogs. 18,000 posts. 2.) Citizen Chatter 15 discussion forums. 2.1 million comments. 3.) Mainstream Media 16 outlets, including print, TV, online, radio. 4.) Campaigns Bush and Kerry blogs, newsrooms; DNC/RNC newsrooms.

36 [Private and Confidential]36 Targeted discussion topic analysis Unaided research environment allows highly targeted topic analysis. Freq.% Iraq: General Situation % Horserace: Debate % Horserace: Voters % Horserace: Poll % Social: Media % Foreign Affairs: Terrorism % Character Trait: Kerry % Iraq: US Troops1117.9% Character Trait: Bush1107.9% Govt: Bush Admin1107.9% Horserace: Swing States916.5% Iraq: WMD876.2% Govt: Intelligence775.5% Govt: Policy755.4% Iraq: Saddam745.3% Horserace: VP Candidate574.1% Horserace: Strategy553.9% Govt: Homeland Security553.9% Govt: Military523.7% Foreign Affairs: Europe513.6% TOTAL N 1,400 FIGURE: Top 20 Blogger Issues

37 [Private and Confidential]37 Some buzz storms are constant and intense Buzz for “Iraq”

38 [Private and Confidential]38 Other storms are brief and pass quickly Buzz for “missing explosives controversy”

39 [Private and Confidential]39 Buzz origination can be dissected Correlation between media channels

40 [Private and Confidential]40 Buzz paths can be understood Need to pursue our finding that topic preference of bloggers correspond more with those of the citizen chatterers and MSM than the latter two did with each other.

41 [Private and Confidential]41 Bloggers used buzz to keep Rathergate alive * 9/10 – 9/19: Conservative bloggers stayed with the forgery topic more than liberals. * 9/21: Interest for all groups surges in response to CBS apology. FIGURE: Conversation share of Rathergate issue.

42 Four things you can do by listening… 1. See the future… 2. Dissect catastrophes in real-time… 3. Create a hit with no advertising… 4. Understand the language of buzz….

43 [Private and Confidential]43 Case Study: Large appliance manufacturer The Situation 1.Manufacturer begins to receive fan mail for a washing machine. 2.Seriously. They were shocked too. 3.Beyond fan mail, anecdotal reports of evangelism filter in. Manufacturer turns to online to better understand this phenomenon. How big was it? Who were these consumers? What was driving this? How could they leverage it?

44 [Private and Confidential]44 Source: BuzzMetrics Research WOM Strategy Takeaway »Focus in on & amplify organic interest in product among males. Who Are The Most Passionate Owners? Surprising findings about existing buzz igniters

45 [Private and Confidential]45 Understand why buzz already happening Source: BuzzMetrics Research WOM Strategy Must »Natural desire to share ‘war stories’ and proof points. What Do Passionate Owners Talk About?

46 “The stuff you can wash is amazing. Stuffed animals…antique quilts, comforters, electric blankets, 22 towels (it is true).... I'm still much in love.” Epinions – Washing Machines, “I have played with my machine in the past. Testing its limitations.” That Home Site,

47 [Private and Confidential]47 Marketing programs amplify natural buzz Examples of what people report challenging the machine with: »3' x 5' area rug »Satin dance/drill uniform »10 yard piece of fabric »Sleeping bags »Stuffed animals »22 towels »Cat/Pet Bedding »Sneakers »Little league uniforms The Result: Sponsorships & grassroots activities with key little league/youth sport organizations.

48 Four things you can do by listening… 1. See the future… 2. Dissect catastrophes in real-time… 3. Create a hit with no advertising… 4. Understand the language of buzz….

49 [Private and Confidential]49 Case Study: Oprah Car Giveaway Source: BuzzMetrics Research How strongly are consumers linking GM to the Oprah event?

50 [Private and Confidential]50 Buzz tracking is crucial AT FIRST: “Bottom line: It was a win-win situation for Oprah and Pontiac. For whatever Pontiac paid, they'll get their money back and more.” Car and Driver Forums, BUT THEN: “The G6 should be renamed the Pontiac Oprah. Because of its close association with Oprah, this will be a chick car and not a guy's car.” GMInsidenews.com, “It would've been nice for Oprah or GM to pay for EVERYTHING.” Free Republic, “So they sell the car, pay the 7G's and then use the other 20G's left to buy a different car. They can get a Civic for 14, which is a better car anyway.” Runners World,


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