Good Evening! My name is Kyle R. Williams and I am the Lead Account Manager for The Reference Marketing Group. I’d like to welcome you to the Retail Network Inc.“Going Social!” Presentation! Retail Network is a unique sales and sourcing organization that specializes in connecting various manufactures and distributors with particular retailers in order to provide demand-product to consumers, otherwise known as the "end-user". These products include clothing, accessories, tobacco products, gifts, jewelry, c-store merch, and scented products. Retail Network is seeking to better understand social media as it relates to their forward progression within the industry. Therefore, this presentation has been prepared in order to give you a better feel for what social media is, its origins, and how it applies to you and your goal accomplishment as a company.
On Today’s Agenda: I will start you off with some Key Definitions to download in order to better understand conceptual development throughout the presentation. We will then move on to discuss Social Media’s Emergence by briefly profiling its history and highlighting its integration into the Corporate world. Next, we will move on to discuss Social Media’s industry landscape by covering its current uses, effectiveness, and a few applicable statistics. Lastly, we will be covering various Social Media Opportunities and Benefits by examining the concept of “Becoming a Social Corp”.
Now let’s get started with a few Key Definitions. New Media is a term that refers to computerized digital or network information communicationtechnologies. Furthermore, Social Media, being “a type of New Media” is used to interact and build relationships via the world wide web.Lastly, a SocialCorp, which is a fairly new concept, is a progressive, forward-thinking company that has adopted social media effectively, in a way that accomplishes strategic business and communications objectives without compromising the company’s primary obligations as a corporation.
Let’s begin with the origins of social media. Where did social media come from?Being that social media hadn’t displayed it’s present day prominence until the earlier part of the 2000’s , people oftentimes cite this time period as its initial beginning. More accurately, Social Media traces back to the late 1970’s with the advent of the Bulletin Board System (BBS) by Ward Christensen and Randy Suess which precedes various events and developments leading to the emergence of the The Internet which was better known at the time as the “Information Highway”. From here, Social Media began to build even more! Initially ignited by Geocites and Blogs in the late 90’s and extending in to >>>
…social networking sites like Friendster and MySpace becoming prevalent at the turn of the millennium. This laid the foundation for the present day Social Media Giants such as Facebook, Twitter, Google+, YouTube, and Pinterest who are firmly established within this ever-expansive industry. In lieu of the evolving history of Social Media, one might ask “how and why did it find its way into the Corporate World?” The answer to this question lies within one of the cornerstone understandings of business building…
BUSINESS, WITHIN ANY REGARD, IS ABOUT BUILDING RELATIONSHIPS. These relationships are cultivated by ‘building bridges to’ and ‘connecting with people’. Despite initial apprehension, as social media continued to develop, companies attitudes towards this platform began to shift. Companies eventually found social media to be a viable means of bridging the gap between them and potential advocates, who they’d previously had no engagement with, and effectively connecting with such prospective advocates. In addition to that, given the innovative nature of the information/digital age, companies are finding more creative ways to connect with people across the board which will be exemplified later on in this presentation.
Moving along, let’s take a glance at the Industry Landscape: I present to you, research from 2011, in reference to which social networking sites were being used for branding and marketing efforts. This research was conducted on some of the top technology firms in the Richmond, VA and served to uncover the following: 100% of the 20 firms surveyed had both Facebook and Linked accounts75% of the firms also had Twitter accounts75% of the firms had social media links on their home page30% of the firms had YouTube accounts
With that being said, IBM and Dell have successfully exemplified ways in which companies are using social media to creatively connect with people.IBM encourages staff members to showcase their work and products by leveraging various social media tools. As quoted by Daulton West, Jr. of socialmediattoday.com, in reference to IBM’s innovative approach to leveraging social media “their [IBM Staff members] talent and enthusiasm acts as a great commercial for all they do and by allowing its staff to use social media, the company is showing its faith in its employees and by extension customers feel more comfortable and engaged by the brand.” On the other hand, Dell welcomes ideas from customers through its Ideastorm website. They’ve managed to receive close to 10,000 ideas. They are then able to publish and report on the ideas that will be implemented. This has to be a great experience for any customer who’s then able to keep track of an idea that they’ve given to a Fortune 500 company as it’s being considered for implementation. Dell estimates that they have about two billion conversations with customers every year! Imagine the impact of annually facilitating two billion conversations “about” and specifically “for” your brand!
Within this newer landscaping of business functionality, YOU have the opportunity of reaping the benefits of becoming a SocialCorp!It’s not just about adding social media to your marketing strategy and labeling yourself “A Social Corporation”. SocialCorps easily become hybrid versions of themselves by becoming “forward-thinkers”. “[Social Corps] have the culture, the organizational structure, the creativity, and the talent to exploit new communications. . .(Postman.)”After making the transition, such companies are reaping the benefits of reaching a larger number of audiences, more intimately and in more effective ways than ever before.
Don’t be “less” informed, join the conversation and be “more” informed than ever by using Social Media to tap into an expansive body of information. More information leads to more sound decision making which helps to produce better results. Tap in to the “Information Flow”!Add social media to your corporate communications mix to enable genuine one-on-one conversations with key stakeholders. This makes for better “engagement” being that you can engage specific audiences on their terms making for better responsiveness. Being “connected” means being “engaged”!New levels of collaboration have been enabled via Social Media. Online communities are being assembled in order to facilitate customer opinions and suggestions. Other SocialCorps are enjoying the advantageous internal benefits of using social media to improve communications and streamline product development. Be efficiently collaborative!
Command Your Message – Join the Conversation: People are talking! And whether that be directly or indirectly, they are talking about your company. Having control within these conversations by exercising command of various social media tools gives a company the ability to facilitate and guide messages. Be the captain! Join the conversation and start to strategically disseminate tailored messages that you can then steer in any direction you choose to. It’s time to take the wheel and steer the conversation!
In conclusion, we recommend that you consider establishing a Social Media Platform which would anchor your online presence. This would become a viable means for you to creatively communicate with the retailers you serve as well as potentially interacting with consumers if need be. We envision a simple, clean and sleek design template for your platform serving not to outcast those that you have developed firm business relationships with in previous years while retaining a fairly progressive look for the newer relationships you will be building over the net. LinkedIn can be leveraged for its inherit business atmosphere where you can build brand awareness and find retailers. Launching an entertaining and educational blog with engaging content highlighting your success stories, longevity, industry savvy, and forward progression would serve to establish your company as a forward-thinking thought leader. In any case, we look forward to helping you define key business objectives and then linking those goals to specified social networking sites primarily designed to treat them.
Retail Network Inc.
IMKT120_Unit1_WilliamsKyle Individual Project
EMERGENCE History Integration into the Corporate World INDUSTRY LANDSCAPE Current Uses Effectiveness Statistics OPPORTUNITES & BENEFITS Becoming a SocialCorp! The WHY and the HOW
New Media: a term that refers to computerized digital or network information communication technologies. Social Media: (a type of New Media) used to interact and build relationships via the World Wide Web. SocialCorp: a progressive, forward thinking company that has adopted social media effectively, in a way that accomplishes strategic business and communications objectives without compromising the company’s primary obligations as a corporation.
Research, in reference to which social networking sites were being used forbranding and marketing efforts, conducted on some of the top technologyfirms in the Richmond, VA uncovered the following: • 100% of the 20 firms surveyed had both Facebook and Linked accounts. • 75% of the firms also had Twitter accounts. • 75% of the firms had social media links on their home page. • 30% of the firms had YouTube accounts. "How Social Media Helps Technology Firms Attract New Business."
Encouraging Staff Members Use Social Media Showcase Work and ProductsWelcoming Ideas Customers help brainstorm BILLIONS of conversations
Works Cited"The History Of Social Media (1978-2012) [INFOGRAPHIC]." - AllTwitter. N.p., n.d. Web. 17 June 2012. <http://www.mediabistro.com/alltwitter/social-media- history_b18776>."How Social Media Helps Technology Firms Attract New Business." Social Media News, Strategy, Tools, and Techniques. N.p., n.d. Web. 17 June 2012. <http://socialmediatoday.com/daulton- west/315095/how-social-media-helps-technology-firms- attract-new-business>.Joel Postman. SocialCorp: Social Media Goes Corporate. Berkley, CA. New Riders. eBook.