European Communication School: Social media session 1
1. Course overview
1. To recognise that there are different
perspectives
2. To put social media in its historical context
3. To understand the difference between
traditional and social
4. To learn how to operate in social space
5. Understanding ‘social citizens’
6. Trust and conflict
7. The future of traditional media?
8. Applying the knowledge
3. The aim of this session
• To understand the two
perspectives on social
media
– Users perspective
– The Wall Street perspective
• To expose the commercial
agenda and established
interests behind what we
are told is “social media”
• To start to understand the
“social media revolution”
4. Conclusion
• A huge amount of bullshit being talked about
social media
– By people who don’t really understand it
– By people who claim to have a solution
– By traditional media who want to kill it
– By the owners of social media properties themselves
• There are very powerful vested interests who are
trying to shape the space and control the way
individuals use it
• We are at a defining moment – not just in
marketing but in society
20. Trying to make the Using an approach
new space work to that is adapted to
the old rules the new space
21. What a marketing director wants
to be told about social media
• It is all pretty straightforward
• It is just a new channel or form of media
• We can take our current approach and adapt
it to work in this space
• We can outsource most of it to an agency
• We can do a deal with Facebook, they say
they will take care of everything
22. What a marketing director does not
want to be told about social media
• Basically everything you know about
marketing won’t apply in this new space
• You are going to have to start from scratch
with a whole new approach
• There are probably other people in the
organisation better placed than you to deal
with it
26. To summarise
• Very few organisations understand how to use
social media
• This is because:
– They don’t want to understand it
– There is a huge commercial vested interest
designed to position social media as “just another
channel you can use to reach consumers”
• Know one is really paying attention to how
consumers are actually using social media
31. Where do you place Facebook?
High importance
Mobile network Your brand
provider X X of phone
Low High
engagement engagement
Brand of Your choice
toothpaste X X of drink
Low importance
32. How do you feel about Facebook?
High importance
Low
Google High
respect respect
Apple
Facebook
Low importance
33. What is Facebook worth?
Price / Earnings ratio
(2013 estimated)
Facebook 40 x
Google 12 x
Apple 10 x
35. Key questions
• Is Facebook a form of media?
• How effective is it as an advertising
platform?
• How valuable is its Big Data?
36.
37.
38.
39. What is Facebook really worth
14000
12000
10000
8000
Series1
6000
4000
2000
0
What is costs to deliver A What it costs to deliver Facebook's revenue Revenue expectation
Facebook The Facebook (@40x multiple)
43. Defining the battle lines
• Corporations and institutions who want
social media to work like traditional
media (to create money or to preserve a
vested interest)
• Citizens or consumers using social media
to create communities and empower
themselves
51. Conclusion
• A huge amount of bullshit being talked about
social media
– By people who don’t really understand it
– By people who claim to have a solution
– By traditional media who want to kill it
– By the owners of social media properties themselves
• There are very powerful vested interests who are
trying to shape the space and control the way
individuals use it
• We are at a defining moment – not just in
marketing but in society
Editor's Notes
Five major differences – first social media is not a commodity.It seems there is now an article of faith – what I call the blessed trinity of media
Creating necessary scale effects when only dealing with small groups – what it is all about. Could talk for ages about that, but don’t have time. Suffice to say that companies basically doing one of two things – either trying, and failing, to Do viral or talking to small groups of people but about the wrong thing – but think that because they are doing it in Facebook that is OK
Who here isn’t on Facebook?Pick on someone – describe how they use itKey issues:Who are the people you have most interaction withDo you know them all anyway – do you have much contact with people you meet ‘in’ social mediaAre there people you have contact with in Facebook, that you don’t meet with frequentlyHow many of your Facebook friends have you never metHow do you deal with news feed pollution?What about privacy – do you understand the privacy setting, do you use them?Do you know about EdgeRank? Are you happy for Facebook to do this?What about brands / organisations?What do you think about ‘liking’What sort of contact do you have with brands?What about advertising? Can you remember ever having clicked through to an ad?What are you more likely to respond to – and ad, a like, or a post?
Why do you “like” brandsDo you mind having their stuff in your news feed?Why is a Facebook page better than a web page?How should a brand use Facebook?How much of your Facebook time is concerned with interaction with brands?Why do you think brands are so obsessed with Facebook?
What do you feel about the brand FacebookDo you like it as an organisation?Do you trust it
Where sitThe privacy issue – Facebook share everythingSuppose another Facebook comes along which doesn’t share data?Would you be prepared to pay for Facebook?Would you be prepared to pay for a Facebook which didn’t share your data?(Attachment to the function of social networking rather than the brand of Facebook)
What an investor is prepared to pay for $1 worth of earnings