Friday Nov 16, 2012

13 Things From the Oracle Social Summit You Should Know

Oracle held its first annual Oracle Social Summit, “The School for the Socially Gifted,” this past week in Las Vegas.  If anyone came to the event uncertain as to why Oracle has such an interest in social, and what its plans for social are, they left with an entirely new vision of where social is headed, and why.

For those unable to attend, I was able to keep my MacBook charged just long enough to capture some of the more pertinent takeaways.

1. The social enterprise is inevitable.  Social technology is disrupting the hierarchies of big companies.  It’s a revolution in corporate structures, just as it has been in various governments.  It’s not crazy to ask yourself if your CEO is the next Mubarak.  (David Kilpatrick Author of “The Facebook Effect” and founder of the Techonomy Conference)

2. The social enterprise represents collaboration on steroids.  It’s tapping into the power of your people, as opposed to keeping them “in their place.” 

3. 1 in every 7 humans on earth is an active Facebook user.  75% have posted a negative comment after a poor customer experience.  The average user will inform 53 people of a bad experience.

4. Checking social media is the 2nd biggest use of phones now.  Reading posts from brands is 4th.

5. 70% of marketers have little or no understanding of the social conversations happening around their brand.

6. Advertising, when done well, is content we care about, preferably informed by those we trust.

7. Acquiring low-quality fans through gimmicks, or focusing purely on fan acquisition is a mistake.  And relying purely on organic distribution is a mistake.  (John Yi, Head of Marketing Partnerships – Facebook)

8. Using all this newfound data and insight serves to positively affect the customer experience.  It allows organizations to now leverage the investments they’ve made in social up to now.

9. Social is not a marketing utopia where everything is free.  It’s pay to play.  The paid component is about driving attention. 

10. We are only in the infancy of ad-targeting opportunities in social.  There’s an evolution underway from interest-based targeting to action-based targeting.

11. There’s actually very little overlap of the people following you on different social platforms.  Don’t assume it’s the same audience on each.

12. People who can create content and who also have an understanding of what drives that content are growing increasingly valuable.

13. Oracle Social’s future is enterprise SRM, integrated across marketing, selling, service, HR and every other corner of the organization.

And in case you thought those were the only gems to come out of the summit, you may want to keep an eye out for Tuesday’s Social Spotlight, ever so aptly titled “13 More Things from the Oracle Social Summit You Should Know.”

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