Lecture Jan 11 2010

Insights and opportunities in social media
Class 1

"Social media is like teen sex. Everyone wants to do it. No one actually knows how. When finally done, there is surprise it's not better.”
AvinashKaushik, Google analytics guru (through Twitter, March 2, 2009)

Introductions
Name
A bit about yourself
Why you’re taking this class

Rules for the class
Discuss
Debate
Participate

Structure
10 minutes discussing previous class, questions, etc.
50 minutes presentation
15 minute break
50 minutes presentation AND/OR work time (depending on need)
25 minutes assignment discussion, q&a, etc.

Objectives: Mine
Theory
Resource / tools
Application
Ongoing use and updating

Objectives: Yours

Topics
Impact of social media
Trends in social media
Using the social graph as a research tool
Participating in the social graph
Implementing a social media platform

Reading

Suggested, but not required

Grading
Case study 20%
Research report 20%
Practice campaign 20%
Exam (essay) 40%

Accessing class content

Questions?

Overview of Social Media

What is social media?

1/9/10
16

Social Media: Defined?
Social media is media designed to be disseminated through social interaction, created using highly accessible and scalable publishing techniques. Social media uses Internet and web-based technologies to transform broadcast media monologues (one to many) into social media dialogues (many to many).

“highly accessible and scalable publishing techniques”

“social interaction”

“many to many”

The value of social media

Does not replace traditional media
It’s more a megaphone for conversations
It’s a new conduit for consumer understanding
It’s a new system of accountability – checks and balances

Like anything else, social media benefits from a broader strategic approach
Goals / objectives of the brand
Marketing strategy
Consumer behavior & insights
Messaging
Media landscape / Digital ecosystem
1/9/10
24

25
Sources of Trusted Information
(scale of 1 to 10)

26
Reasons for Using Social Networks

1/9/10
27

Social Media Participation Segments
Desire to have an impact
Desire to be heard
Desire to participate
Desire to belong
Desire to understand
Source: Forrester, 2008
Source: Forrester, 2008

The implications from social media

1/9/10
30
Thesis 1
Markets are conversations.
Thesis 3
Conversations are conducted in a human voice.
Thesis 12
There are no more secrets.
Thesis 52
Paranoia kills conversations. But lack of open conversations kills companies.
Thesis 60
Markets want to talk to companies.
*Originally written in 2000
1 year before the dot com bubble completely burst
years before MySpace or Facebook were created
6 years before people were tweeting

DEMOCRACY
expertise
PUBLISHING
collecting
INSPIRATION
information
IDEA FIRST
technology first

Size of the web
Traditional destinations

Communication

Communication
simultaneous
parallel
disconnected

Stories
content WAS king

Stories
now, it’s about PARTICIPATION
who
how many
how often

Structure

Structure
A transactive memory system is a system through which groups collectively encode, store, and retrieve knowledge.
INFORMATION RETRIEVAL
EXPERTISE

Craft
CRAFTSMAN

Craft
AMATEUR
AMATEUR
AMATEUR
AMATEUR

Value judgments
clutter
selective attention
publish then filter
unfinished

A case

Dell - 1st Post: Minor Impact, Neutral Sentiment
44

Dell - Post 2: Major Impact, Negative Sentiment
45

Dell - Post 2: Quickly Propogates
46

Dell - Post 3: Major Impact, Positive Sentiment
47

Dell - Post 3: A Negative Turned to Positive Sales
Dell’s actions resulted in $6 million in sales via the custom URL that tracked usage of the discount coupon.
48

Dell - Timeline and Propagation Map
Propagation Map: June 14th - June 21st
49

First Assignment: Case Study

Overview of assignment
Find a company that has used social media successfully
Outline:
Problem the company was solving for
The methods employed
Success metrics
Include sources
Include implications
Include critical analysis of what worked and what didn’t
Due one week from today
20% of grade

Lecture Jan 11 2010

by Jason Parker on Jan 10, 2010

Accessibility

Categories

Upload Details

Usage Rights

Statistics

Lecture Jan 11 2010 — Presentation Transcript