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Social media: The 5 stages to acceptance - BDI 12/10/13 Social Media Marketing for Financial Services Leadership Forum
 

Social media: The 5 stages to acceptance - BDI 12/10/13 Social Media Marketing for Financial Services Leadership Forum

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Presentation: Social media: The 5 stages to acceptance ...

Presentation: Social media: The 5 stages to acceptance
Presented by: Barr Seitz, Director of Digital Publishing and Marketing, McKinsey & Company
Like any technology, social media has gone through its own evolution from confusion to acceptance. But the unique properties of social - instant feedback, lack of control, massive "blast radius" potential - have made this journey more visceral and high profile than other trends. Barr Seitz explores what that journey looks like, drawing on examples and sharing lessons learned.

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    Social media: The 5 stages to acceptance - BDI 12/10/13 Social Media Marketing for Financial Services Leadership Forum Social media: The 5 stages to acceptance - BDI 12/10/13 Social Media Marketing for Financial Services Leadership Forum Presentation Transcript

    • WORKING DRAFT Last Modified 12/12/2013 12:27 PM Eastern Standard Time Printed 12/9/2013 5:26 PM Eastern Standard Time The Five Stages of Social Media Acceptance Social Marketing for Professional Services Forum Discussion document Dec. 10, 2013 CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of McKinsey & Company is strictly prohibited
    • Last Modified 12/12/2013 12:27 PM Eastern Standard Time 1. Confusion 2. Fear 4. Betrayal 5. Acceptance McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 1 Printed 12/9/2013 5:26 PM Eastern Standard Time 3. Interest
    • Stage 1: Confusion OK, and … Printed 12/9/2013 5:26 PM Eastern Standard Time OK, but … Let’s see No thanks What the? No way McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales Last Modified 12/12/2013 12:27 PM Eastern Standard Time Corporate “Comfortometer” McKinsey & Company | 2
    • Stage 2: Fear OK, and … Printed 12/9/2013 5:26 PM Eastern Standard Time OK, but … Let’s see No thanks What the? No way McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales Last Modified 12/12/2013 12:27 PM Eastern Standard Time Corporate “Comfortometer” McKinsey & Company | 3
    • It’s an uphill battle Last Modified 12/12/2013 12:27 PM Eastern Standard Time Printed 12/9/2013 5:26 PM Eastern Standard Time Reasons not to McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | Reasons to @McK_MktgSales McKinsey & Company | 4
    • Stage 3: Interest OK, and … Printed 12/9/2013 5:26 PM Eastern Standard Time OK, but … Let’s see No thanks What the? No way McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales Last Modified 12/12/2013 12:27 PM Eastern Standard Time Corporate “Comfortometer” McKinsey & Company | 5
    • Time for small experiments Last Modified 12/12/2013 12:27 PM Eastern Standard Time Printed 12/9/2013 5:26 PM Eastern Standard Time McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 6
    • The problem is … Last Modified 12/12/2013 12:27 PM Eastern Standard Time Printed 12/9/2013 5:26 PM Eastern Standard Time McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 7
    • Stage 4: Betrayal OK, and … Let’s see No thanks What the? No way McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 8 Printed 12/9/2013 5:26 PM Eastern Standard Time OK, but … Last Modified 12/12/2013 12:27 PM Eastern Standard Time Corporate “Comfortometer”
    • Social media + content Last Modified 12/12/2013 12:27 PM Eastern Standard Time Printed 12/9/2013 5:26 PM Eastern Standard Time McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 9
    • Mindset change Last Modified 12/12/2013 12:27 PM Eastern Standard Time I tweet therefore I am Printed 12/9/2013 5:26 PM Eastern Standard Time I publish therefore I tweet McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 10
    • Content is not king Last Modified 12/12/2013 12:27 PM Eastern Standard Time Printed 12/9/2013 5:26 PM Eastern Standard Time McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 11
    • Content is queen Perfect hostess Into relationships McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 12 Printed 12/9/2013 5:26 PM Eastern Standard Time Good at sharing Last Modified 12/12/2013 12:27 PM Eastern Standard Time Good listener
    • EXAMPLE Social media is part of a campaign Speak at leading forums ▪ ▪ External conferences McKinsey-hosted events across sector ▪ ▪ ▪ ▪ Web site Slideshare YouTube Pinterest ▪ ▪ Internal dissemination ▪ ▪ ▪ ▪ ▪ Email Knowledge request Broad outreach Media outreach ▪ ▪ Social media Preview with clients Client workshop ▪ Business press Select M&S trade and management journals Key influencers Cross tweet article Reference on blog channels, e.g., LinkedIn McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 13 Printed 12/9/2013 5:26 PM Eastern Standard Time Client/ele, influencers Alumni Post to McKinsey properties ▪ ▪ ▪ ▪ Client outreach Publish, Disseminate, Speak Host webinars ▪ ▪ HBR Economist Fast Company Forbes Last Modified 12/12/2013 12:27 PM Eastern Standard Time Publish externally
    • Stage 5: Acceptance (begrudging) OK, and … Printed 12/9/2013 5:26 PM Eastern Standard Time OK, but … Let’s see No thanks What the? No way McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales Last Modified 12/12/2013 12:27 PM Eastern Standard Time Corporate “Comfortometer” McKinsey & Company | 14
    • Move to professionalism Last Modified 12/12/2013 12:27 PM Eastern Standard Time Leadership McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | Metrics @McK_MktgSales Budget McKinsey & Company | 15 Printed 12/9/2013 5:26 PM Eastern Standard Time Risk
    • Measure what matters Last Modified 12/12/2013 12:27 PM Eastern Standard Time McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 16 Printed 12/9/2013 5:26 PM Eastern Standard Time Not everything that counts can be counted, and not everything that can be counted counts. Albert Einstein
    • Measure what matters Last Modified 12/12/2013 12:27 PM Eastern Standard Time Jerry Maguire metrics “Show me the money” McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 17 Printed 12/9/2013 5:26 PM Eastern Standard Time Sally Field metrics “You like me”
    • Stage 5: Acceptance (enthusiastic) OK, and … Let’s see No thanks What the? No way McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 18 Printed 12/9/2013 5:26 PM Eastern Standard Time OK, but … Last Modified 12/12/2013 12:27 PM Eastern Standard Time Corporate “Comfortometer”
    • Titans of industry are people too Be human McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 19 Printed 12/9/2013 5:26 PM Eastern Standard Time Talk like a human Last Modified 12/12/2013 12:27 PM Eastern Standard Time Be relevant
    • Barr Seitz Last Modified 12/12/2013 12:27 PM Eastern Standard Time Barr_Seitz@mckinsey.com @barrseitz McKinseyonMarketingandSales.com www.youtube.com/McKinseyCMSOforum @McK_MktgSales http://www.slideshare.net/McK_CMSOForum McKinsey on Marketing & Sales: www.McKinseyonMarketingandSales.com | @McK_MktgSales McKinsey & Company | 20 Printed 12/9/2013 5:26 PM Eastern Standard Time WWW