Friday Apr 25, 2014

13 Social Marketing Facts + Your Possible Reactions

social media statisticsMore people own a mobile device than a toothbrush.

“So I guess we should get around to mobile-optimizing our site, right?”

90% of consumers trust peer recommendations. 14% trust ads.

“Then why isn’t our daily mission to turn our customers into raving fans?”

The average person has an attention span of 7 seconds, that’s one second less than a goldfish.

“But…I just finished a 280-page white paper!”

45% of CMOs are confident they know which metrics or business outcomes key stakeholders care about.

“Wow, I haven’t even asked what my stakeholders care about. I should probably hop right on that.”

B2B buyers are 70%-90% of the way through the buying journey before they reach out to a vendor.

“That’s a shame, cause I’m awesome on the phone. I sure hope the assets we have out there that precede us are good enough.”

Social media marketing budgets are projected to double in the next 5 years.

“Great! Time to calculate what’s double the cost of one low-paid intern.”

Adding social sharing buttons to email messages increases click-through rates over 150%.

“Wait, what? You can put social sharing buttons on emails?!”

60% of consumers feel more positive about a brand after consuming content from it.

“Hey, we post a blog every 3 or 4 months. We’re solid.”

56% of Millennials won’t work for firms prohibiting the use of social in the office.

“Banning social; kind of a hard way to get that employee brand advocacy program going.”

Job postings on LinkedIn for social media positions have grown 1,300% since 2010.

“Apparently my stock is going way up, and the brand I work for is doing an outstanding job of pretending it isn’t.”

78% of small businesses get at least a quarter of their new customers via social.

“But I keep hearing there’s no ROI to social. I guess new customers don’t translate to ROI.”

1 million links are shared every 20 minutes on Facebook.

“That’s a lot of competition. I have a bad feeling some of the lame stuff we put out doesn’t make the cut.”

In 10 years, 40% of the Fortune 500 won’t be here anymore.

“Wow, I hope we’re as nimble and innovative as we like to think.”

@mikestiles @oraclesocial

Friday Jan 24, 2014

How Orgs Can Set Up an Analytics Framework that Leverages Social Data

social marketing, social mediaIn our last blog we discussed how a good bit of our social marketing focus should be on social listening. The wonderful product of all that listening is a wealth of social data. But what do you do with it? How do you employ it? How do you turn it into something actionable that speaks to business goals?

The answers lie in setting up a framework in the organization to move and process not just social data, but social data combined with enterprise and public and curated data. We wouldn’t want to withhold that kind of knowledge from you, so we have a new and FREE Oracle White Paper, “The Value of Social Data,” available for download on the subject.

While it certainly doesn’t cover all the bases (that’s why you need a White Paper), here are a few points from Oracle Social VP Product Development Don Springer.

  • Orgs have made significant progress in deploying social CRM, but want stronger, more automated ways to socially enable customer-facing functions.

  • Enterprise data growth is expected to continue at 40% through 2020, driven by consumer generated content.

  • The social CRM process involves listening, engaging (1-on-1), creating relevant content, publishing, establishing and managing workflows, and analyzing.

  • When that process is set up, you then amplify the social value you get by integrating with other core applications.

  • A Socially Enabled Consumer Data Store can provide a 360-degree view of your customers.

  • This store consists of unstructured content that captures customers intentions, interests and needs from social/internal data sources; plus quantified transactional, behavioral & customer profile data in your CX Management Applications.

  • Additional “public” data can be integrated via a cloud-based Data-as-as-Service platform (DaaS).

  • The key is not just getting the data, but using it to help discover the insights to connect to and improve KPIs.

  • We’ve seen a need for more business applications to ingest and use “quality” curated, social, transactional reference data and corresponding insights.

  • The problem for orgs is getting this data into an easily accessible system and having the contextual integration of the data/insights exportable to business applications.

  • Essentially, DaaS becomes a single entry point for public data, able to extract and integrate the right data from the right sources with the right factoring at the right time.

  • The CMO and CIO are collaborating out of necessity to integrate social and enterprise data into a data “pool” so all departments can leverage it.

  • Over time, these analytics become your knowledge base for a data-driven approach to optimization and continuous improvement.

Don’t forget to download the full “The Value of Social Data” paper at your convenience and start pondering what your enterprise’s framework might look like.

Photo: stock.xchng


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