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Social Media as a Business Opportunity - Lanarkshire Chamber of Commerce Business Fair

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Presentation to Lanarkshire Chamber of Commerce Business Fair - Social Media as a Business Opportunity and as a Business Threat. Social Media offers organisations many opportunities to innovate their …

Presentation to Lanarkshire Chamber of Commerce Business Fair - Social Media as a Business Opportunity and as a Business Threat. Social Media offers organisations many opportunities to innovate their business model. If you don't take the opportunity be aware that a competitor might and then threaten your market share

Published in: Business, Technology

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  • 1. Social Media Business Opportunity or Business Threat? 01/09/11 Hamilton Contact us +44(0)7717714595 www.twintangibles.co.uk [email_address] twintangibles 2011 social media at work consulting – strategy - research
  • 2. Which Do You Know?
  • 3.  
  • 4. What is Social Media?
    • “ It is a mindset of sharing, openness, collaboration and communication that is facilitated by technical tools that provide for many to many non mediated exchange”
    It is increasingly pervasive, it can’t be ignored and it is affecting society, economy and culture
  • 5. You will have heard this before
    • 50% of worlds population under 30
    • 96% of millennials have joined social networks
    • If it were a country Facebook would be 3 rd largest in the world
    • 25% of search results link to user generated content
    • 78% of customers trust peer reviews
    • Only 14% trust adverts
  • 6. Social Media Mindset
    • Democratic
    • Inclusive
    • Mutuality
    • Open
    • Reduced barriers to entry
    • Expectation of return non traditional
    • Challenges convention
    • Self regulating and self organising
    • Iterative
    • Deeply rooted
  • 7. Tribes Your tribes are assets
  • 8. Reach
  • 9. Porters Value Chain
  • 10. Porters Value Chain Updated http://en.wikipedia.org/wiki/File:Porter_Value_Chain.png
  • 11. So What?
    • It will affect every organisation differently
    • There is no “magic bullet” or single approach
    • It gets over sold
    • You can’t ignore it
    • It’s both an opportunity and a threat
    • You probably need advice
  • 12. What You Once Did Image credit http://www.imageafter.com
  • 13. You Must Now Do Image credit http://www.imageafter.com
  • 14. Because you need to
    • Have conversations and build mutual trust
  • 15. Social Media As A Threat
    • “ We don’t have a choice on whether we do social media, the question is how well we do it”
    • Erik Qualman – Author Socialnomics
  • 16. Social Media As A Threat
    • “ It is not a question of if you “do” social media it is what social media can “do” to you.”
  • 17. Porters Value Chain Updated http://en.wikipedia.org/wiki/File:Porter_Value_Chain.png
  • 18. The Long Tail Products Popularity " We sold more books today that didn't sell at all yesterday than we sold today of all the books that did sell yesterday." Josh Peterson - Amazon
  • 19. Keys for success
    • Have a plan
    • Be in it for the long term
    • Understand why you are doing it
    • Marshall your resources
    • Listen, listen, listen
    • Engage, engage, engage
    • Monitor
  • 20. Action Plan Audit & Evaluate Intent Resource Targets Choose Channels Engage Monitor Listen
  • 21. So Remember
    • You are not in control
    • This is disruptive
    • You need to be ready
    • You will need to change
    • Gardener not engineer
    • Remember its inward facing too!
  • 22. Get Involved 120+ FREE events 19 th - 23 rd September Register from 6 th Sept. http://socialmediaweek.org/glasgow
  • 23. www.twintangibles.co.uk [email_address] @twintangibles social media at work