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This presentation is the keynote I gave at the Social Media Monitoring conference held in London this week. Two separate but intertwined threads are key here [1] People and our innate need to connect and collaborate, communicate and co-create [2] Data and its increasingly significant role in all aspects of our lives I ask the following questions: What is advertising in the 21st Century? How can one re-engineer business models to be successful in the networked economy? How does the power relationship between customers and business change - and how can that be beneficial to both? How can one take a networked co-creation approach to the automotive industry? What are the principals and lessons we need to take away from these insights?
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your data with destiny
Alan Moore SMLXL 11.09
Draw me a social network
Social NetworksFew very influential users
Social NetworksHierarchical network
Social NetworksStrong presence of communities
7
Understanding different but important roles in a social network provides deep insight into your customers
Image courtesy of Xtract. Xtract.com
Social intelligence: The 3rd dimension of customer insight
Social Marketing Intelligence: the
black gold of the 21st Century
http://smlxtralarge.com/2008/05/01/the-data-flow-wars/
Xtract Social LinksIn action
10
Most receptive targets for each campaign
0.7
0.7
0.7
0.9
0.9
Score
Improved marketing ROI
Subscriber insight
Spot-on decisions, e.g.,
in product planning
Target group descriptions
Clear briefs for creative, easy campaign planning
& correct media choices
Call and messaging data, subscriber and CRM data, existing business intelligence data
Always the latest, up-to-date data
% o
f Pro
duct
Ado
pter
s
0% 20% 40% 60% 80% 100%
0%
20
%
40%
6
0%
80%
10
0%
Baseli
ne = T
argets
selec
ted ra
ndomly
Perfect model = Never achieved
Xtract
model
% of Contacted Customers of Total
Cost Per Relevant Audience: CPRA CPRA
The metrics therefore can change
http://smlxtralarge.com/publications/social-media-marketing/
Cost of winter tyres c. $700Cost of tyres & rims c. $2500Approximate average sale $1300
Total sales of BMW in summer 2008: 297kThose sold to hire/fleet: 180k
Total potential customers: 117k30% response rate = 35,000
35,000 customers spending $1300 each = $45,500,000
Total cost of campaign $60,000
To the read & write, participatory networked society
http://smlxtralarge.com/2009/08/21/the-glittering-allure-of-the-mobile-society-destination-japan/
Augmented reality that’s weird shit right?
Augmentation is merely the layering of information and data to create more value – like a map!
So we might want more information about the plumber
http://www.flickr.com/photos/9266144@N02/1075722366/
Literacy
Meta data Contextual data Dynamic data
Meta data Contextual data Dynamic data
Self learning + systems automated algorithms
Refined data as intelligence that can then be applied to specific commercial needs
Economics + socioeconomics + networked economics
Search + contextual search + micro narrative threads
Collaborative filtering + tags + social intelligence
Filtering + navigating + bundling + aggregating
Meta data Contextual data Dynamic data
Self learning + systems automated algorithms
Refined data as Intelligence that can then be applied to specific needs and purposes
Economics + socioeconomics + networked economics
Search + contextual search + micro narrative threads
Collaborative filtering + tags + social intelligence
Filtering + navigating + bundling + aggregating
Meta data Contextual data Dynamic data
Self learning + systems automated algorithms
Refined data as Intelligence that can then be applied to specific needs and purposes
Economics + socioeconomics + networked economics
Search + contextual search + micro narrative threads
Collaborative filtering + tags + social intelligence
Filtering + navigating + bundling + aggregating
Meta data Contextual data Dynamic data
Self learning + systems automated algorithms
Refined data as Intelligence that can then be applied to specific needs and purposes
Economics + socioeconomics + networked economics
Search + contextual search + micro narrative threads
Collaborative filtering + tags + social intelligence
Filtering + navigating + bundling + aggregating
Meta data Contextual data Dynamic data
Self learning + systems automated algorithms
Refined data as Intelligence that can then be applied to specific needs and purposes
Economics + socioeconomics + networked economics
Search + contextual search + micro narrative threads
Collaborative filtering + tags + social intelligence
Filtering + navigating + bundling + aggregating
My Yoad
Yoad /‘jэυd/ 1. n. a file in database storing a person’s profile information and consumer lifestyle preferences for use by marketers and advertisers to determine whether to send a highly targeted commercial communication to that person (normally to their mobile telephone); 2. v. to send an advert to a person’s mobile phone [orig. unkn.]
Your Yoad is Valuable
Come and get me Mr Brand.
when I want you to.Only
Talk to me on my mobile.
Please offer me things I want.
refer to my Yoad.
How
? Please
Qustodian helps you create and maintain your Yoad
You then receive messages on your phone
And share in their value
£7.53
£4.82
£12.35
£57.10
£32.21
£89.31
£64.63
£37.03
£101.66
“There a point I would make about who owns my YOAD? My bank, my phone company, Tesco, Amazon, Facebook?
I would answer “who owns my wife?” Nobody.
It is NOT about ownership, it’s about RELATIONS; willingness to have a relationship,
maintaining the relationship, adding value to it, gaining from it, giving and receiving...
There is NO DISCUSSION... my yoad is by definition mine, just like my wife is herself.
But my wife is only ONE relationship, whilst with brands and companies, managing my yoad helps
me have relations of value and mutual benefit with whom I want, when I want and
for what I want to have from that relation, by enabling me to have conversations with
them, started by them, by me or by context, which can end (or not) in transactions.”
Agustin Calvo ‘puts it succinctly’ (Nov 09)
Your Yoad is yours.
We just look after it for you.
the custodian of yoads
Values Passions Desires
Ethics
OrganicsSustainability
Green concerns
Food
Health
networked economics
Cars but not by Gary Numan
What if:
We build the car of your dreams?
It was green?
We made it in your town?
We listened
We did it?
Local Motors
Fundamentally changes the relationship to supply and demand
Distributed knowledge Network Hyperlocal and Superglobal
Open Source and Creative Commons
In one year 44,000 designs were submitted to Local Motors, and 3600 innovators have shared their knowledge and insights.
Cars are developed 5x faster than traditional cars, and with more than 100x less capital. ‘You can’t be nimble,’ says Jay, ‘if you have to tool big’
Micro-Factories which provide an engaged experience for customers to come together, learn about cars, build their own Local Motors car, and return so say Local Motors, exemplary service
Constant Feedback loop
Could increase revenue of specialist car market to $100bn but cash is distributed into regions
So what to do about all this?We need to understand some key points raised in my presentation:
Data enables us to do some extraordinary things in business if we open our minds to the possibilities.
But you have to be absolutely customer centric to succeed
i + we
Interface without interference
interactive + connected + human
blended reality
Blended reality
Deep context
Embedded Sociabilityhttp://www.flickr.com/photos/an_untrained_eye/1195966967/
People embrace
what they
create
Technologies of co-operation
Nemawashi
Stand in the flow of information
Thank you
SMLXL:Contact: alanm@smlxtralarge.comTwitter: alansmlxl
www.smlxtralarge.com
SMLXL runs an Engagement Marketing innovation consultancy and also courses onEngagement for businesses that want to survive in the networked society.
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