The Business Of Social Media by Kristen Beattie

LeadstoryBy Kristen Beattie The Business of Social Media Social media is set to I t seems technology has crept time of print, Jay uses social into every aspect of our media to enhance his online lives. It competes daily for credibility as a tech guru. Twit- explode in the next 18Jay Oatway our attention, both simplifying ter works best for him becauseSocial Media Consultant / Freelance Tech and complicating things. It af- his audience is tech savvy and months and accordingCorrespondent fects our behaviour, our shop- the action is immediate andjay@oatway.com ping habits, how we share in- live. Jay also pipes tweets into to Jay, if you aren’t in formation with others and it is LinkedIn, which is more busi- now redefining how we do ness directory style, and takes social media now – you business. As social media be- advantage of the lists function comes more widespread, busi- in Facebook to divide and sort are socio and economi- nesses are increasingly looking people into different reachable cally disadvantaged! into its potential as a tool to groups. connect with their customers This is true especially if and promote their brands. Scott Frain’s background is in With this in mind, we met with technology, namely as a Silicon you are trying to build two leading tech-savvy Hong Valley venture capitalist. Scott Kong entrepreneurs who were was around the people who brands. No matter what both willing to share their per- started social media and knew sonal social media journeys of its inception on technology industry you are in, so- with us. forums, so saw its potential early on. In fact, Scott is often cial media can help you Embracing opportunities invited as beta tester for newScott Frain sites, such as Google Plus, talk directly to peopleEntrepreneur and Angel Investor Jay Oatway is a social media LinkedIn, etc. Scott himselfsfrain@enterpriseglobal.com ‘guru’ and consultant who ad- was an early adopter of social and listen to what they vises people and businesses on media. His business, CSS the use of social media. Scott Mobi, uses the propagation of want. Frain is an entrepreneur who social media to offer his clients owns several tech businesses, a unique and very attractive one of which is CSS Mobi, a marketing solution, “We create mobile marketing company template-based mobile web- that takes advantage of social sites for our clients who are media to share information ef- mainly in the F&B and re- ficiently. tail industries. We enable our clients to offer promo- Both Jay and Scott were early tions through these web- adopters of social media. Jay, sites which can then be up- started off his career as a tech dated regularly.” journalist writing about mobile technology. He started his So how does CSS Mobi Twitter account in 2007 at its work exactly? You simply inception and out of curiosity. take a photo with your phone He then started to pursue so- of the QR code (QR=Quick cial media professionally and Response - a matrix barcode soon other people then began easily ‘read’ by most smart to request that he help them phones) you see in a newspaper contains everything you need generate the same influence. As or on a billboard, etc. This to know including location and the most influential person in takes you to the CSS Mobile any current promotions. Social Hong Kong on Twitter with website that has been created media links are embedded into over 100,000 followers at the for that particular brand and the site so you can easily share14

Leadstory tablish a relationship with your customers. • It is one of the best means of brand exposure due to the sheer numbers of people who are tuned in and volume of information that is shared. • It’s cost effective. Traditional advertising can be very ex- pensive. Social media is free, although it requires a lot of investment in time. • It’s speedy. News in social media travels so fast and spreads so quickly, especially on Twitter. News anchors tweet directly from war zones, people received tweets about the recent earthquakethis information with your cause of its immediacy, that hit the US east coast be-friends. The vendor benefits Twitter in particular is great fore the tremors hit them andfrom having its promotions at grabbing people’s atten- news of, and indeed reac-spread further by word of tion. tions to Steve Jobs’ resigna-mouth, all of which is measura- tion from Apple spreadble. So Scott’s business relies on • It gives you credibility. Ac- faster on Twitter than in tra-the power of the word of mouth cording to Jay Oatway, an ditional media.with social media as the main online presence is essentialpropagator of information. for today’s professional no • It’s fun. As ShakespeareToday people are increasingly matter your area of expert- wrote, ‘Brevity is the soul ofusing social media on their mo- ise, “It allows you to share wit’. The character limita-bile devices in their thirst for in- news, stories and opinions of tions of Twitter require mes-stant access, e.g. more than things happening in your sages to be short, sweet and40% of Facebook users now log field. This will leave a trail preferably witty.on via their phones. on Google and so anyone searching for you or your A double edged swordWhy Bother with Social company will find it. Like itMedia? or not they will probably While both Jay and Scott sing prefer doing business with social media’s praises, they alsoIt’s no doubt that technology has someone or a company who acknowledge that it is a dou-improved our lives. These days appears to be up to date with ble-edged sword. Jay pointswe can find out in an instant their industry.” out that privacy – or perceivedwhere someone is, rather than • It allows you to share things lack thereof is one of the disad-wasting time tracking them with like-minded people. As vantages and what the futuredown. We can also find our way Jay points out, most experi- holds regarding what isaround in a few clicks, thanks to ences like reading newspa- deemed off limits is unknown.ubiquitous instant mapping pers, going to the theatre, What is true, he ascertains, istechnology on our smart watching TV shows, etc are that those who don’t share inphones. Social media was born all the more meaningful the future will be conspicu-out of this hunger for access to when we share our opinions ously absent.instant information and propa- and reactions with others.gated by the natural human As discussed, news in socialneed for communication. So • You can gauge reactions and media travels fast and negativewhy should you get involved? give instantaneous feedback. news propagates just as quicklyWhat are the benefits? Why Scott Frain says, “You put as positive news. Scott Frainbother? up a billboard or poster but points out, ‘Some tools are you can’t get feedback on good at portraying good mes-• Social media makes the that or gauge reaction.” He sages but bad at portraying bad world feel smaller – it allows adds that, “With social messages – it is not balanced, you to reach out further media you also have the abil- especially in un-moderated fo- around the globe to people ity to update quickly and to rums.’ He explains that while with similar interests. adapt with the changes.” to a certain extent, a negative comment is transient – it will• It’s a good way to make • It is one of the best ways to disappear off the pages soon people stop and listen. Be- communicate directly and es- enough, it will also spread and 15

Leadstory propagate quickly. Jay also that, then you can do social pressing their own opinions talks about the negative side of media. and are professional.’ His social media, especially when it What the future holds… message is to start and estab- comes to anonymity. He cites lish an online presence now – the restaurant industry as one Social media is set to explode get onboard and embrace it that often suffers when bad re- in the next 18 months and ac- before it’s too late. • views are posted on anony- cording to Jay, if you aren’t in mous-style review sites. He social media now – you are adds that some companies are socio and economically disad- To find great offers and promo- worried that if they engage in vantaged! This is true espe- tions on your mobile phone, go social media that their true cor- cially if you are trying to build to m.cssmobi.com. If you are porate culture will be revealed brands. No matter what indus- – when in fact it is real life serv- try you are in, social media can interested in knowing more ice encounters which set opin- help you talk directly to people about using this mobile plat- ions. If there are problems, the and listen to what they want - form to promote your business, companies need to address helping to retain customers as those problems by improving well as acquire new ones, intro- please contact enquiries@css- business, rather than relying on duce new products, create mobi.com or call 3583 1835. social media to do so. brand awareness and introduce promotions and new products. So is the answer for companies If you are interested in knowing to shy away from exposure in Scott advises not to just jump more, Jay Oatway will be one social media? in blindly but to do your re- Absolutely not according to search first to find out what of the guest speakers at the up- Jay Oatway, ‘Rather than you want to get out of it be- coming Intercham Social Media avoiding social media, compa- cause each of the social Event: ‘Small is the New Big’. nies need to get involved in so- media tools is different and cial media and move away has its own features, posi- He also holds a HK social gath- from these anonymous type tives and negatives. As far as ering every month. See sites and onto ones which are businesses go, Jay points out meetup.com/hksocial for details more credible.’ that ‘the best companies are authentic ones that are ex- of the next one. Managing the beast There are a variety of tools such as Tweetdeck and Hoot- suite which are aimed at managing your social media ac- counts and your online reading. They arrange everything into columns and lists and categories allowing for easy reading and analysis. You can then tweet the content that appeals to you. Jay says, ‘It’s a good idea to read the news in the morning and when you see an interesting idea to share it. This is critical as it will help you create bonds with people and ex- pand your circle and so that you will become someone of influence and authority.’ While it can be argued that in many ways technology is a time-saver, many people new to social media are bewildered by yet another thing they have to do in their already full day. However, as Jay points out, this is exactly what people thought with the advent of email – and now people have adapted so well that many treat email as almost real-time. So according to Jay, if you can do16

The Business Of Social Media by Kristen Beattie

by candymok on Oct 12, 2011

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The Business Of Social Media by Kristen Beattie — Document Transcript