Social media marketing today and tomorrow

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Can we say that social media were the drivers of a second ICT revolution? Apparently so. In this presentation I try to show that there are many lessons that we can draw from previous disruptive …

Can we say that social media were the drivers of a second ICT revolution? Apparently so. In this presentation I try to show that there are many lessons that we can draw from previous disruptive changes in the industry, but that companies need to be outliers and define new business models and new business processes to leverage the advantaged offered them by new social medias. Various Italian and American cases are cited, as well as research in the field. Useful for your intro class on internet marketing.

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  • 1. The Future is NowInnovation, New and Old Business modelsfacing the Social Media Revolution Alberto Di Minin In collaboration with Elena Casprini and Leonardo Dri Istituto di Management Scuola Superiore Sant’Anna www.diminin.it © 2012 Alberto Di Minin
  • 2. Digital Revolutions © 2012 Alberto Di Minin
  • 3. Facing a Social Revolution (…way beyond business) © 2012 Alberto Di Minin
  • 4. The real embrace © 2012 Alberto Di Minin
  • 5. A life of its own © 2012 Alberto Di Minin
  • 6. © 2012 Alberto Di Minin
  • 7. Rick Wion:McDonalds social media director We saw this right It wasn’t 2Weaway hours working! pulled it down And most importantly, Rick.. What do you mean: “we pulled it down??” © 2012 Alberto Di Minin
  • 8. Let’s Review what Happenedduring the 1st Digital Revolution © 2012 Alberto Di Minin
  • 9. A Good Reading for the 1st Revolution – Analog Economics Still Apply -Shapiro, Carl, and Hal R. Varian. Information rules:a strategic guide to the network economy. Harvard Business Press, 1998.
  • 10. Another lesson for the 1st Revolution – IT is an enabling technology -Carr, Nicholas G. Does IT matter?: information technology and the corrosion ofcompetitive advantage. Harvard Business Press, 2004.
  • 11. Three types of strategies back then… Deny React Reinvent © 2012 Alberto Di Minin
  • 12. Three types of strategies back then… React © 2012 Alberto Di Minin
  • 13. Three types of strategies back then… Reinvent © 2012 Alberto Di Minin
  • 14. How about the Second Revolution? © 2012 Alberto Di Minin
  • 15. Manuel Castells: Father of the Network SocietyCONNECTIVITY CONTENT © 2012 Alberto Di Minin
  • 16. Deny Content?Three days of social media silence by Costa andCarnival © 2012 Alberto Di Minin
  • 17. Or not Deny?BP starts an open campaignrequesting ideas for the Oil Spill thousands of ideas within days…. The suggestion box itself started SPILLING! © 2012 Alberto Di Minin
  • 18. User Led Innovation VON HIPPEL True innovation sits at the intersection between Users and Producers Means to prevent such interaction are obstacles to innoveation. © 2012 Alberto Di Minin
  • 19. Reinvent T-Shirts© 2012 Alberto Di Minin
  • 20. Neo Tribalism Consumption & Individualism + Use value type of value Tribalism + Linking value Consumption Individualism behaviour Neo-tribalism 1950s XXIst Century View Modernity Post-modernityCova, B. (1995) Community and consumption. Towards a definition of the “linking value”of product or services. European Journal of Marketing 31 (34): 297-316
  • 21. Attempting to React
  • 22. Chen, Y., S. Fay, et al. (2011). The role of Marketing in social media: howonline consumer reviews evolve. Journal of Interactive Marketing 25: 85-94. Publicize and share WOM Psychological motivations product experiences lead consumers to post and opinions Customer online reviews reviews SOCIAL MEDIA Impact on product sales Firm level Impact on marketing strategies © 2012 Alberto Di Minin
  • 23. React… maybe not like this© 2012 Alberto Di Minin
  • 24. React: Review your BMWroe Alderson (1898–1965) © 2012 Alberto Di Minin
  • 25. Towards a New Marketing Mix Web Experience “ The Web Experience is the consumer’s impression about the online company” (Constantinides, p. 60) S S SCOPE SYNERGYTraditional Marketing Mix(Borden, 1964) Operational VS Strategic Tool The Web Marketing Mix Model 3 levels: S S Strategic SITE SYSTEM Operational Organisational + Other issues E. Constantinides (2002), The 4S Web-Marketing Mix Model, Electronic Commerce Research and Applications, Vol. 1, pp. 57-76
  • 26. Reinvent Music© 2012 Alberto Di Minin
  • 27. Reinvent Investment© 2012 Alberto Di Minin
  • 28. Outliers: the history of success Gladwell, Malcolm. Outliers: The story of success. Little, Brown, 2008.
  • 29. Alberto Di Minin In collaboration with Elena Casprini and Leonardo Dri Istituto di Management Scuola Superiore Sant’Anna www.diminin.itGrazie per l’attenzione!DON’T FORGET THE PAST& BE AN OUTLIER FOR THE FUTURE © 2012 Alberto Di Minin