Your questions answered The Impact and Influence of Social Media: Why brands need to become better at generating conversations Your questions answered July 2011 Your questions answered THE INSIDER The Insider is MediaCom’s external communications programme designed to address the issues that matter for marketers. It is comprised of several elements including a newsletter, Blink – a magazine that covers trends and influences, a webcast housed at www.mediacom.com and a follow-up white paper. This quarter, our focus turned to social media and the impact and influence that it has had on marketing strategies. In our introductory newsletter, MediaCom's insight leaders explained how social can provide value for advertisers and demystified the opportunities that it presents. Expanding on these themes in The Insider webcast, Carolyn Everson, Vice President, Global Marketing Solutions at Facebook, joined us to discuss her company's continuing growth and development and explain how they can help advertisers. Carolyn was joined by Sara Devine, Manager of Digital Integration Marketing for Volkswagen Group of America, who explained how her company has already enjoyed social media success. Offering a media agency perspective, Sloan Broderick, Director of Innovation, MediaCom Interaction USA, was on hand to share advice and explain how the correct social media strategy can provide ROI. The session was moderated by leading business strategist and Chairman and CEO of MediaLink LLC, Michael Kassan. In this Q&A paper, MediaCom’s Sloan Broderick answers some of your questions. n THE INSIDER Q&A BROUGHT TO YOU BY MEDIACOM JULY 2011 2 Your questions answered WHAT MAKES A SOCIAL MEDIA CAMPAIGN SUCCESSFUL? Brands need to encourage internal employees and external agencies to them help figure out the value of social to their company/image. There’s no simple answer, but more contributions from partners will add perspective. Media agencies need to allow brands to find a voice and a purpose, encourage their company to find the appropriate connection with consumers (is it customer service? promotions? creative conversations? fun?), and push teams to articulate and drive against values/ measurements that make sense for their business. n WHAT ALCOHOL BRANDS DO YOU THINK MAKE THE BEST USE OF FACEBOOK? I think Captain Morgan, Budweiser/Bud light, Jim Beam, Johnnie Walker all do a nice job with Facebook. n THE INSIDER Q&A BROUGHT TO YOU BY MEDIACOM JULY 2011 3 Your questions answered WHAT'S THE ONE THING THAT A SMALL-MEDIUM SIZED COMPANY WANTING TO MAKE AN IMPACT WITH SOCIAL MEDIA SHOULD DO? Have an honest conversation with the community, figure out what value you will deliver to them for being a fan, and have some fun. Be brave! n DO YOU HAVE ANY EXAMPLES OF HOW SMALL BUSINESSES ARE USING FACEBOOK PAGES SUCCESSFULLY? Amex Open is by far the largest and best example. n THE INSIDER Q&A BROUGHT TO YOU BY MEDIACOM JULY 2011 4 Your questions answered DOES THE PANEL AGREE THAT AD SPEND (WITHIN FACEBOOK) IS THE PRIMARY WAY TO DRIVE SOCIAL MEDIA COMMUNITY GROWTH? Media spend on Facebook is the largest, most predictable and manageable way to drive fans/likes, but smart cross-channel campaigns also should be a primary consideration: is your TV commercial social? Is there a social call to action? Are the events you are sponsoring including social connection as part of the platform? n HOW CAN NETFLIX TURN THE CONVERSATION AROUND AND APPEASE CUSTOMERS ANGERED BY ITS RECENT PRICE HIKE? Netflix was caught off-guard just like so many other brands are in social media, and there are two things they should consider: 1. Have a crisis management/PR plan in place to deal with fast moving topics. 2. Have an honest response to the consumers who deserve to hear back from you... after all, they pay you! As for what they should say about the pricing changes, there’s probably not much that consumers want to hear. Maybe they should say something along the lines of "we'll listen to everyone’s feedback and consider new pricing options in the future to accommodate the many ways all of our customers use Netflix."n THE INSIDER Q&A BROUGHT TO YOU BY MEDIACOM JULY 2011 5 Your questions answered YES, FACEBOOK IS AN ENGAGEMENT TOOL FOR BRANDS, BUT WHAT ABOUT ADDING REACH TO "CLASSICAL" COMMUNICATION CAMPAIGNS? DOES ANYONE HAVE ANY INSIGHTS ABOUT THE REACH SYNERGIES OF SOCIAL (FACEBOOK), "NORMAL ONLINE" REACH CAMPAIGNS AND TV? Check out Facebook.com/marketing for lots of examples. n HOW CAN I BEGIN TO STRUCTURE MY SOCIAL MEDIA CAMPAIGN? It is critical to think about your overall communications strategy and work out exactly where your brand is now, where you'd like to be in the future (goals), how you'll approach getting there and how you know when you’ve arrived. Social, just like all other communications, should have the same level of thinking put into developing and linking campaigns across channels. n THE INSIDER Q&A BROUGHT TO YOU BY MEDIACOM JULY 2011 6 Your questions answered IF YOU WOULD LIKE TO RECEIVE MORE INFORMATION ON THE INSIDER, PLEASE CONTACT: Fraser Riddell Chief Global Business Development Officer 498 Seventh Avenue New York NY 10018 USA +1 (212) 912 5106 fraser.riddell@mediacom.com www.mediacom.com THE INSIDER Q&A BROUGHT TO YOU BY MEDIACOM JULY 2011 7