By Mike Stiles on Nov 21, 2012
In our previous blog, we started giving those of you who couldn’t make it just a sampling of the valuable takeaways from the first annual Oracle Social Summit, held Nov 14 and 15 in Las Vegas. And while yes, 13 items is a pretty healthy sampling, we wanted to go the extra mile and give you 13 more, an indication of just how much great information came out of it. Follow the arrow, and come on in as if you were there with us.
1. Weber Shandwick takes a 70/20/10 approach when advising clients how to allocate resources to paid social opportunities. 70% of spend should go toward paid opportunities the agency and client both know work, 20% should go toward paid social the agency knows works, and 10% should go toward experimentation. (Matt Dickman – Weber Shandwick)
2. By 2017, the technically competent CMO will spend more on IT than the CIO. (Gartner Study)
3. CIOs are focused on infrastructure. As the roles of the CMO and CIO continue coming together, those CIOs have to make a very conscious decision to get CMOs what they need.
4. It’s now harder for brands to differentiate based on product. The advantage will go to the brands that are successful in garnering customer trust.
5. More and more, enterprise software is going to start looking like the software consumers are used to seeing and using.
6. You will see brands prioritizing mobile and dropping investments in www, HTML, POS systems, etc.
7. The social graph has to be added to brands’ customer data for a more holistic view. Customers will give you the information you need if the reward is appropriate.
8. Viacom did a study that showed viewers are most honest on social. Not so much on surveys or other feedback vehicles.
9. How are you determining your influencers? Influence isn’t about reach. It’s about getting people to change behavior.
10. A mix of skills is becoming critically important in a social staff. It shouldn’t be a mixture of several disciplines, not just a bunch of “social experts.”
11. If senior management isn’t engaged, the social team is forced into guessing what might be considered a “success” by the C-suite.
12. Mobile customization will be getting big investments from brands in 2013. Brands need to provide shoppers utility, not just information. 75% will use mobile this holiday season to avoid in-store madness.
13. Data becomes information, information becomes insight, and insight becomes actionable.
The Oracle Social Summit brought together brands, agencies, Oracle social experts and industry thought leaders to take a serious look at where social stands today, and where it’s headed in the near future. Given the speed of social’s evolution, attending such events (or at least reading nifty summary blogs) is a good investment in making sure your enterprise isn’t falling gradually behind.