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Social Media Class 4 User Generated Content

Terms in this set (11)

User Generated Content
-Short for user-generated content, (UGC) used to describe any form of content such as video, blogs, discussion form posts, digital images, audio files, and other forms of media that is created by consumers or end-users of an online system or service and is publically available to others consumers and end-users. User-generated content is also called consumer generated media (CGM).
Examples of User Generated Content
Youtube
Reddit
Twitter
Facebook
Yelp
Instagram
Statistics on User Generated Content
-80% of the content on the web is user-generated
Modern users spending more than 5 hours per day consuming UGC
-51% of Americans trust UGC more than company website content
-70% of consumers prefer online customer reviews opposed to other mediums
-87% of consumers agree favorable reviews confirm a decision to purchase a product
-60% of millennials rate products and services online, compared to 46% of non-millennials
-On YouTube, UGC fan videos get 10 times more views than brand-owned content.
-52% of consumers say that watching product videos makes them more confident in their purchase decisions
-One in five reviews contained the word "love." Ratings for reviews containing "love" averaged 4.55 stars—10% higher than the overall average.
-A one-star increase in Yelp rating leads to a 5-9% increase in revenue.
-On YouTube, UGC fan videos get 10 times more views than brand-owned content.
-51% of Americans trust UGC more than company website content
-17% of users have bought something based on a friend's social media post about it.
-32% of customers would be more likely to buy clothing online if the website featured photos of real customers wearing that item.
Marketing Usage of UCG
-More and more companies turning to UGC to incorporate into ad campaigns and contests
-UGC is cost effective!
-Enhance customer service
-Generate consumer trust (we trust people more than the company)
-Build online visual merchandising
-Marketers are looking to start conversations rather than traditional broadcasting methods
-Surge of consumers valuing peer recommendations over professionally written pieces have been letting companies emphasize on creating a great product or service, provide a space to engage with customers, and allow the product or service sell itself
Earned Content
-publicity gained through promotional efforts or online word-of-mouth
Earned/Paid/Owned Media
Generation C
-C stands for consumption
-Gen C is a powerful new force in culture and commerce.
-Sixty-five percent are under 35 but they span the generations, empowered by technology to search out authentic content that they consume across all platforms and all screens, whenever and wherever they want.
-They can be difficult to reach with traditional media - there's no one-size-fits-all solution here - but brands that take the time to understand them and properly engage with them will find a willing and influential audience
GoPro
-"GoPro doubled its net income from 2010 to 2011 to $24.6 million but only spent $50,000 more in marketing costs to do it, according to Wall St. Daily. GoPro repeated the feat in 2013, increasing marketing costs by only $41,000, but making $28 million more in net income."
-"GoPro's valuation is based partly on the high-quality video camera that it makes. But even more than that, investors are intrigued by the potential of the video camera manufacturer to blossom into a full-fledged media company driven almost entirely by user-generated video."
Waze
-Free real-time traffic guidance app
-Purchased in 2013 for $966 million by Google
-50 million users in 200 countries
-Warn users of accidents, construction, speed traps, broken down vehicles, potholes, weather & police locations
Problem?
-"These relationships keep citizens safe, promote faster emergency response and help alleviate traffic congestion,'' - Julie Mossler, Waze
-"The police community needs to coordinate an effort to have the owner, Google, act like the responsible corporate citizen they have always been and remove this feature from the application even before any litigation or statutory action,'' - Brown, Chairman of the National Sheriffs Association technology committee.
Olapic
-The Visual Revolution
-Marketing firm that specializes in taking UGC, video and photo only, and turning it into revenue
-helps take pictures and coordinate them into one marketing campaign (getting a hashtag going; tracking it)
YOTPO
-Push to Pinterest
-Marketing firm that specializes in taking UGC and building Pintrest catalogs.
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