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In 2008, if you’re not on a social networking site, you’re not on the Internet . It’s as true for advertisers as it is for consumers. Social networking is the ultimate manifestation of user generated content, and as such, holds more potential for growth than any other form of content on the Web today. User Generated Content (UGC) and Social Networks are transforming the media ecosystem . IAB Platform Status Report: User Generated Content, Social Media, and Advertising An Overview - April 2008
78% of people trust the recommendations of other consumers
Nielsen “Trust in Advertising” report – October 2007
New Marketing Meatball Sundae: Is Your Marketing out of Sync? – Seth Godin
Launch and learn Focus groups Community support Customer support Small overhead = low risk Large overhead = stability Innovation a major expense Advertising a major expense Stories Features Fashion Market share Fads Long product cycles Product line limited by imagination Product line limited by factory Permission Spam Permeability between consumers and makers Barrier between consumers and makers Consumer-to-consumer communication Marketing-to-consumer communication Emphasis o vertical success (niches) Emphasis on horizontal success (hits) Countless online retail outlets Limited physical retail outlets Countless media outlets Limited number of media outlets New Marketing Old Marketing
The Cluetrain Manifesto There's a new conversation between and among your market and your workers. It's making them smarter and it's enabling them to discover their human voices. You have two choices. You can continue to lock yourself behind facile corporate words and happytalk brochures. Or you can join the conversation.
Social Media is Counter-intuitive Space defined by Media Owner Brand in control One way / Delivering a message Repeating the message Focused on the brand Entertaining Company created content Space defined by Consumer Consumer in control Two way / Being a part of a conversation Adapting the message/ beta Focused on the consumer / Adding value Influencing, involving User created content / Co-creation Communications Media Social Media
441 respondents, 80+ pages, 70+ charts/figures Released Q1 2008
Defining Enterprise 2.0 “ Enterprise 2.0 is the use of emergent social software platforms within companies, or between companies and their partners or customers. ” Andrew McAfee Associate Professor, Harvard Business School May 2006
Technology that enables people to collaborate and/or form online communities
The application of Web 2.0 to the enterprise
A new set of technologies, models and methods used to develop and deliver business software
The next generation of knowledge management
The ability to snap together software services to enable business agility
The next generation of collaboration
The democratization of information and content-centric systems
The use of emergent social software platforms within companies, or between companies and their partners or customers
A user-centric approach to working with enterprise-focused content systems
The next generation of enterprise content management (ECM)
Exposing the collective wisdom of a networked workforce, partner and customer base
Leveraging metatags to tap into collective wisdom
Re-defining Enterprise 2.0 “ A system of web-based technologies that provide rapid and agile collaboration, information sharing, emergence and integration capabilities in the extended enterprise” Carl Frappaolo & Dan Keldsen Q1 2008
SLATES Graphic Source: Dion Hinchliffe, ZDNet http://blogs.zdnet.com/Hinchcliffe/?p=143
What Technologies Fall into Your Definition of an Enterprise 2.0 Platform?
How Critical is Enterprise 2.0 to Your Organization's Overall Business Goals/Success?
Enterprise 2.0 solutions? New Product Development Customer service Idea generation Market research Developer relations Amplifying Word of Mouth Employee communications General Marketing Reputation management Product testing Public relations LONG TAIL SALES PROJECT COLLABORATION Co-innovation Member networking Capturing Knowledge
Participation Inequality Jakob Nielsen’s 1-9-90 rule Diagram courtesy of http://www.useit.com/alertbox/participation_inequality.html
What is ICAEW doing with ion? http://www.ion.icaew.com
What is ICAEW doing with ion? http://www.ion.icaew.com/itcounts