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Social Media Presentation Strathclyde Jan 2010

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Social Media presentation to MBA class, Strathclyde University, Glasgow, January 19, 2919

Social Media presentation to MBA class, Strathclyde University, Glasgow, January 19, 2919

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Transcript

  • 1. Social media and business
    Why should I care?
  • 2. What is social media?
    “An umbrella term that defines the various activities that integrate technology, social interaction, and the construction of words, pictures, video and audio.”
    Source:Wikipedia
  • 3. What does it look like?
    Facebook
    MySpace
    Twitter
    LinkedIn
    Flickr
    Blogs
    RSS feeds and much, much more
  • 4. By the numbers
    Facebook – 122,220,617 monthly visitors
    MySpace – 55,599,585
    Twitter – 23,579,044
    LinkedIn – 11,228,746
    Classmates.com – 14,649,224
    Ning.com – 5,881,943
    Bebo – 3,120,062
    Source: eBizMBA
  • 5. Business the old way
    selling
    pushing
    advertising
    talking TO the customer
  • 6. What’s wrong with this?
    18% of TV campaigns generate a positive ROI
    Average person subjected to 3000 ads a DAY
    90% of people who can, skip TV ads
    14% of people trust ads
    Source: Nielsen, Trust in Advertising report, October 2007
  • 7. Business the new way
    Dialogue with consumers
    Two-way conversation
    Listening
    Engaging
    Open
    Transparent
    Trustworthy
  • 8. So?
    78% people trust recommendations from other consumers
    (14% people trust adverts)
    34% people post opinions on products and brands on their blogs
    Source: Nielsen, Trust in Advertising report, October 2007
  • 9. Why should I care?
    3 out of 4 Americans use social networking sites
    2/3 global internet population use social networking sites
    Social networking sites
    Time spent on social networks is growing at 3 times the overall rate of the internet – 10% of all internet time
  • 10. Why should I care?
    100 million videos viewed on YouTube every day
    3,600,000,000 pictures on Flickr.com (June 09)
    3,000,000 Tweets every day
    5,000,000,000 minutes on Facebook every day
    Source: What the F**K is social media? by Marta Z Kagan
  • 11. Why should I care?
    93% of social media users believe companies should have a presence on social media
    85% believe they should go further and interact with their customers
    Source: Cone, Business in Social Media, a study, September 08
  • 12. Why should I care?
    “Social media is only going to become more pervasive and as such, become a critical factor in the success or failure of any business.”
    Brian Solis, The Social Media Manifesto
  • 13. Resistance is futile
    “For companies, resistance to social media is futile. Millions of people are creating content for the social web. Your competitors are already there. Your customers have been there for a long time. If your business isn’t putting itself out there, it ought to be.”
    BusinessWeek, February 19 2009
  • 14. Power to the People
    “Technology is shifting the power away from the editors, publishers, the establishment, the media elite. Now its the people who are in control.”
    Rupert Murdoch
  • 15. Pepsi’s social media touchdown
    Pepsi drops $20 million Super Bowl advert for social media campaign
  • 16. Does this stuff work?
    “Socially engaged companies are more financially successful.”
    Source: Engagement, Raking the Top 100 Global Brands. Prepared by Wetpaint and Altimeter. July 2009
  • 17. Does this work?
    “While much has been written questioning the value of social media, this landmark study has found that the most valuable brands in the world are experiencing a direct correlation between top financial performance and deep social engagement. The relationship is apparent and significant: socially engaged companies are, in fact, more financially successful.”
  • 18. Does this work?
    Starbucks and Dell most socially engaged brands in the world
  • 19. Does this work?
    STARBUCKS
    Mystarbucksidea.com – putting the best consumer ideas into action
    Facebook – 3.5 million fans
    Twitter – 250,000 followers
    Mini Starbucks card 1406 comments and 12,382 ‘likes’ on Facebook
  • 20. Does this work?
    DELL
    Direct2Dell blog
    Ideasstorm blog
    1.5 million Twitter followers
    $6.5 million sales through Twitter
  • 21. Social media and PR
    Case study - REIN4CE
    Niche PR business
    Twitter
    Blogging
    LinkedIn
  • 22. Social media and PR
    Case study REIN4CE
    BEFORE social media push
    May 09 – monthly visits to website 50
    AFTER social media push
    June 09 to Nov 09 - monthly visits increased 91 to 507.
    207 non-bounce visits
    43% of traffic from referring sites – LinkedIn, Twitter, Imodules and facebook
    Average time on site 9 mins 9 secs
    467 high quality Twitter followers
    Source: Google Analytics
  • 23. Social Media and PR
    Case study REIN4CE
    Member of 50 groups on LinkedIn
    Set up 5 LinkedIn groups
    Regularly blog and post answers on LinkedIn
    315 LinkedIn connections
  • 24. Social Media and PR
    Case study REIN4CE
    Results
    Asked to chair European Insurance Forum Conference in Dublin
    Sponsoring reinsurance conference in Arizona through Twitter
    Business enquiries from the Middle East, Bermuda, London, and the US
  • 25. No silver bullet
    Social is just another tool
    Technology that allows better communication
  • 26. New part of the business mix