Social Media Mythbusters

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I delivered this deck in New York on 11 October 2011 at Web 2.0 Expo.

I delivered this deck in New York on 11 October 2011 at Web 2.0 Expo.

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  • 1. Social Media MythbustersPeter KimChief Strategy Officer11 October 2011
  • 2. Hello.® 2011 Dachis Group. Confidential and Proprietary
  • 3. Social Media Mythbusters | 11 October 2011 @peterkim #smmHow I got here• Digital strategy at Razorfish, 2000 - 2001• Head of global digital marketing + ecommerce at PUMA, 2001 - 2004• Analyst at Forrester, 2005 - 2008• Employee #1 at Dachis Group, 2008 -® 2011 Dachis Group. Confidential and Proprietary
  • 4. Social Media Mythbusters | 11 October 2011 @peterkim #smmDachis Group is 200+ professionals worldwide Austin London New York Portland Philadelphia St. Louis Lincoln Madrid Amsterdam Sydney® 2011 Dachis Group. Confidential and Proprietary
  • 5. Social Media Mythbusters | 11 October 2011 @peterkim #smmWe’ve worked with... Fortune 100® 2011 Dachis Group. Confidential and Proprietary
  • 6. Social Media Mythbusters | 11 October 2011 @peterkim #smmWe have delivered 500+ Social Media Solutions® 2011 Dachis Group. Confidential and Proprietary
  • 7. Let’s rewind it back.® 2011 Dachis Group. Confidential and Proprietary
  • 8. Social Media Mythbusters | 11 October 2011 @peterkim #smmFrom institutions to individuals• Subservient Chicken, 2004 http://www.subservientchicken.com/ pre_bk_skinned.swf• BowieChick, 2006 http://www.youtube.com/watch? v=jXe8pyY9G80• @delloutlet, 2009 http://twitter.com/delloutlet® 2011 Dachis Group. Confidential and Proprietary
  • 9. Social Media Mythbusters | 11 October 2011 @peterkim #smmSocial media myths• Fail fast• Customers in control• Brands don’t need Facebook or Twitter strategy® 2011 Dachis Group. Confidential and Proprietary
  • 10. “Fail fast.”® 2011 Dachis Group. Confidential and Proprietary
  • 11. Social Media Mythbusters | 11 October 2011 @peterkim #smm ($2.7) billion in market cap® 2011 Dachis Group. Confidential and Proprietary
  • 12. Social Media Mythbusters | 11 October 2011 @peterkim #smmImported from Detroit® 2011 Dachis Group. Confidential and Proprietary
  • 13. Social Media Mythbusters | 11 October 2011 @peterkim #smmDon’t fail - be strategic instead Fail fast = quit and give up easy = spaghetti against the wall = no clear strategy going into your business = no ability / willingness to try and pivot as market conditions change = easy way out = today’s management mantra that will be laughed at in 10 years. - Mark Suster, VC and General Partner at GRP Partners http://www.bothsidesofthetable.com/2010/03/11/the-fail- fast-mantra-needs-to-fail/® 2011 Dachis Group. Confidential and Proprietary
  • 14. Being strategic® 2011 Dachis Group. Confidential and Proprietary
  • 15. Social Media Mythbusters | 11 October 2011 @peterkim #smmStart with culture® 2011 Dachis Group. Confidential and Proprietary http://communicationnation.blogspot.com/2011/02/connected-company.html
  • 16. Social Media Mythbusters | 11 October 2011 @peterkim #smmOrganize for connectivity® 2011 Dachis Group. Confidential and Proprietary http://communicationnation.blogspot.com/2011/02/connected-company.html
  • 17. Social Media Mythbusters | 11 October 2011 @peterkim #smmUse the right tools for the right jobs® 2011 Dachis Group. Confidential and Proprietary http://communicationnation.blogspot.com/2011/02/connected-company.html
  • 18. “Consumers are in control.”® 2011 Dachis Group. Confidential and Proprietary
  • 19. Social Media Mythbusters | 11 October 2011 @peterkim #smmAustin Solid Waste Services® 2011 Dachis Group. Confidential and Proprietary
  • 20. Social Media Mythbusters | 11 October 2011 @peterkim #smmConsumers are not in control The overheated rhetoric acts as a deceptive rationalization. We marketers have far more control than we let on. We buy the media, make the product, write the message, pick the messaging platform, select the suppliers, and hire the employees who ultimately do all the above. - Pete Blackshaw, Nestle Global Head of Digital Marketing and Social Media http://www.clickz.com/clickz/column/1696074/repeat-after- me-were-still-control® 2011 Dachis Group. Confidential and Proprietary
  • 21. A framework for sharing control® 2011 Dachis Group. Confidential and Proprietary
  • 22. Social Media Mythbusters | 11 October 2011 @peterkim #smmThe goal: create business value Activate! Unite! + Cultivate loyalists into advocates for your + Engage consumers in brand and have them Communicate! meaningful relationships demonstrate your brand + Brand values to that drive loyalty" values in the Create! consumers in new, marketplace" + A company that lives compelling ways" brand values from the inside out"® 2011 Dachis Group. Confidential and Proprietary
  • 23. “You don’t need a Facebook strategy.”® 2011 Dachis Group. Confidential and Proprietary
  • 24. Social Media Mythbusters | 11 October 2011 @peterkim #smm 800M users worldwide $77 billion valuation Source: Wall Street JournalSource: Facebook® 2011 Dachis Group. Confidential and Proprietary
  • 25. Social Media Mythbusters | 11 October 2011 @peterkim #smmFacebook would be the world’s 3rd largest country 1,340 million312 million 1,210 million 238 million 191 million 800 million active users® 2011 Dachis Group. Confidential and Proprietary
  • 26. Social Media Mythbusters | 11 October 2011 @peterkim #smmPlanning for Facebook® 2011 Dachis Group. Confidential and Proprietary
  • 27. “You don’t need a Twitter strategy.”® 2011 Dachis Group. Confidential and Proprietary
  • 28. Social Media Mythbusters | 11 October 2011 @peterkim #smmTwitter now has 100 million active usersSource: Twitter® 2011 Dachis Group. Confidential and Proprietary
  • 29. Social Media Mythbusters | 11 October 2011 @peterkim #smm® 2011 Dachis Group. Confidential and Proprietary
  • 30. Social Media Mythbusters | 11 October 2011 @peterkim #smmHow to succeed with Twitter• Build a follower base - The bigger the better - think Duncan Watts’ “Big Seed” - Promoted accounts have stickier follows• Publish organic and promoted tweets - Engage with consumers naturally - Promoted tweets don’t spur unfollow lift and show 3 - 5% engagement• Plan ahead with a promoted trend - High visibility, high traffic• http://www.beingpeterkim.com/2011/09/twitter-media- plan.html® 2011 Dachis Group. Confidential and Proprietary
  • 31. Social Media Mythbusters | 11 October 2011 @peterkim #smmSocial business by design• Don’t fail by making stupid mistakes - plan holistically• Remember that brands have control - you make the market• Social networks have critical mass - you need a integrated media plan® 2011 Dachis Group. Confidential and Proprietary
  • 32. Thank youhttp://www.dachisgroup.com+ 1 512-275-7825peter.kim@dachisgroup.com@peterkim