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Leveraging Social Media as Business Tool
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Leveraging Social Media as Business Tool

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This is the presentation I gave on 9 Mar 2010 at NUS Alumni House on Social Media

This is the presentation I gave on 9 Mar 2010 at NUS Alumni House on Social Media

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  • THE PEOPLE is INTERNET= And the internet can’t exist without people. The market is people Pre 2007- maintstream media controls majority of influence, credibility and exposure and now the futur Post 2007: Creators of Social Media begin to enjoy increased visibility, credibility and audience exposure. Is this some kind of joke? No it is not? It is happening right now. What will you do if you were given 500 bucks and you are told to buy a product that you never heard of at all? You Google!, you ask questions in forum to strangers, you read review of the internet because you know that they are HONEST opinions and NOT PAID OPINIONS. They are COMMENT/REMARKS and NOT ADVERTISING!!!
  • In a nutshell, Social Media is online technologies and practices that people use to share opinions, insights, experiences, and perspectives with each other.
  • Empowers people, giving people a voice.
  • When a consumer is happy, they come back for more, they share with their friends, they are evangelist, eventually they SHOUT even louder when company value their thoughts and allow them to feel belong, a sense of ownership of the brands. Look at APPLE, before IPOD was out, everyone is talking about it, anticipate for IPOD because behind all this exist a community, a community of brand advocates! Speaking of functional attributes, doesn’t other products like SAMSUNG, IRIVER serves the same functional attributes, but why are they people still saying that they prefer more of IPOD than these brands!.. How is this applied to the social media? Social media allows participation in a community. People interacts in the community, interactions is conversation, conversation are word of mouth. They bring their knowledge to the reality and spread it out. Research says 70% of Word of mouth are done offline.! The web gives them a TOPIC, an Insight, a News to talk about.
  • Faced with too much choice, too much media, too much marketing, consumers are effectively, filtering or actively rejecting the onslaught. Through sharing and interaction, you can build a following that will help promote your products and services.

Transcript

  • 1. By : Robin Low Leveraging on SOCIAL MEDIA as a business tool
  • 2. A radical change has occurred in the World of advertising and marketing “ ”
  • 3. Consumers are not listening anymore Interruptive marketing has seen it’s day Source: http://www.=.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
  • 4. The Audience is creating Source: http://www.iirusa.com/upload/wysiwyg/M1805/ IIR_M1805_Seaton.pdf
  • 5. The Audience is selecting Time Shift technology Source: http://www.iirusa.com/upload/wysiwyg/M1805/ IIR_M1805_Seaton.pdf
  • 6. The Audience is changing Source: http://www.iirusa.com/upload/wysiwyg/M1805/ IIR_M1805_Seaton.pdf
  • 7. Consumers control the online environment so brands need to think about facilitating user-created actions, not just user-generated content." Unlike newspapers and TV where the advertisers are speaking at consumers, the Internet allows for more back and forth interaction. Source: http://china.seekingalpha.com/article/30979 “ ” advancements of… digital media
  • 8. traditional media is dead.
      • Consumers do not trust advertisements . (They would rather read a review on a blog or a webpage rather than corporate page)
      • Consumers are immune to interruptive marketing . (too many mediums, too many ads)
      • Consumers are informed , and information is readily available.
      • With a global business , it cost too much to reach out to everyone.
      • With social media, the cost is $0 , no external company needs to be engaged.
  • 9. what is… social media?
    • “ Social Media is a group of online media which has the following characteristics.”
      • Participation
      • Networks
      • Two-way communication
      • Connectivity
      • Open source
  • 10. Conversations
    • … and conversations !
    • Markets are conversing
    • Markets are getting smarter, more informed , more organized. 
    • People in networked markets have know that they get far better information and support from each other than from vendors.
    • The networked market know more than companies do about the products.
    • Companies that assume online markets are the same markets used to watch their ads on TV are kidding themselves .
    • Companies that don’t realize their markets are now networked person-to-person, getting smarter as a results and deeply joined in conversation are missing their best opportunity .
    • Companies can now communicate with their markets directly. If they blow it, it could be their last chance .
    • Companies that do not belong to a community of discourse will die .
    • (http://www.cluetrain.com/ #manifesto)
  • 11. With or without you…
    • … the conversations will happen !
    • For a better control of your brand, you must participate in the conversations
    • Reply to topics you know, share information and build relationships.
    • Once you trigger a conversation, do not leave it
  • 12. growth of social media
  • 13. growth of social media
  • 14. Importance of… social media
      • 2 way communication – allows feedback, comments
      • Generate massive amounts of traffic – get attention and links
      • Viral propagation – Word of Mouth marketing (Invite friends to promote)
      • Networking – create community / supporters
      • Branding
      • Search engine visibility
      • Low cost / high returns
      • Compliments marketing efforts – use with advertisements and PR
      • Market research / customer feedback
      • Crisis Management – resolve things before they become a crisis
      • New Communication Channel
      • Less effort with community sharing / help
  • 15. brand building & management
      • Social Media is fast becoming an important tool for managing your brand . As more people use the social media platform to share their opinions, it is important to engage and correct any misconception on your company over the social media sphere.
      • Word of mouth is key .
      • A supporter can easily sway opinions and view of their followers for their cause.
  • 16. I believe in the bloggers and their ideas. They are my friends and will tell me the truth, unlike advertisements. “ ” Source: http://china.seekingalpha.com/article/30979
  • 17. blogs & Articles
    • Write articles to inform people about new development and advances of the industry.
    • Give value and knowledge that people will find useful, for products and services related to your company.
    • Brand yourself as an “expert” in the industry.
    • Improve your credibility by sharing knowledge.
    • Millions of people read articles on ezinearticles.com, blogger.com or wordpress.com everyday.
  • 18.
    • Build network
    • Communicate with Fans
    • Generate awareness
    • Share photos and videos
    • Organize events
    • Get feedback
    Facebook
  • 19. twitter
    • “ With twitter gaining popularity, number of users greatly increased after celebrities began to use this social media platform. Many people are only beginning to realize the true value in it. ”
      • Networking
      • Updated news
      • Relationships
      • Information
      • Entertainment
      • Alerts on Upcoming Events
      • Share emotions or talk to someone
  • 20. The “ satisfaction effect ” Source: http://www.churchofthecustomer.com
  • 21. Engagement is all about making it relevant to the consumer. “ ” James Speros, Chief marketing officer, Ernst & Young
  • 22. The editorial/reader relationship is a one-to-one conversation, and in time it creates a bond of trust, of belief, expectation and empathy. It is through the quality of this relationship that an aperture or opening to the reader’s mind and heart is created, through which we advertisers can establish communication. “ ” Advertiser with Readers’ Digest
  • 23. Attention Engagement The new paradigm
  • 24. the ultimate goal
    • Brand community!
    • Build a non-marketing community outreach to deliver a voice for your organization
    • Use the buzz power
    • Reach people where they regroup
    • Leverage on word of mouth
  • 25. observations
    • As the number of channels increase, overall engagement increases at a faster rate.
    • Engagement differs by industry.
    • Financial performance correlates with engagement .
    • It Provides ” Multiple Communication Touch Points”   (More touch points can present a ripple effect, inducing viral marketing, boosting brand recognition and driving sales volume.)
    http://jeffbullas.com/2009/07/21/report-reveals15-best-practices-of-social-media-implemented-by-the-top-100-brands/#comment-2005
  • 26. best practices
    • Listen to public
    • Deputize people throughout the organization
    • Understand how each channel provides a different dimension of engagement
    • Centralize coordination
    • Find champions who can explain and mitigate risk.
    • Be in it for the long haul
    http://jeffbullas.com/2009/07/21/report-reveals15-best-practices-of-social-media-implemented-by-the-top-100-brands/#comment-2005
  • 27. best practices (cont.)
    • Pick channels carefully.
    • Spread engagement to employees beyond the social media team.
    • Open the platform to anyone and everyone. Encourage employees to tap into social media to get work done
    • Engage in new channels where people already are
    • Support engagement as an extension of the company culture.
    http://jeffbullas.com/2009/07/21/report-reveals15-best-practices-of-social-media-implemented-by-the-top-100-brands/#comment-2005
  • 28. best practices (cont.)
    • Be conversational from the start.
    • Make social media part of the job, just like email
    • Modularize and synchronize content across channels
    • To scale engagement, make social media part of everyone’s job.
    • Emphasize quality, not just quantity.
    http://jeffbullas.com/2009/07/21/report-reveals15-best-practices-of-social-media-implemented-by-the-top-100-brands/#comment-2005
  • 29. “ A direct result of not tying activity to an end game, the ability to know what it is we want to measure before we engage. Doing so, allows us to define a strategy and a tactical plan to support activity that helps us reach our goals and objectives.” -- Brian Solis, author and principal of the FurtureWorks agency measuring ROI
  • 30. personal branding
    • You are not special. You are not a beautiful or unique snowflake. You are the same decaying organic matter as everything else.  – Tyler Durden, Fight Club.
      • Social media tools are becoming mandatory for career success. They are free advertising and give you the ability to connect directly with hiring managers, entrepreneurs and recruiters, instead of applying for jobs through job boards, which are black holes. 
      • Your digital assets — blog, podcast, and social networking profiles — are your online identity and how people discover and connect with you. 
      • You have the ability to leverage one or all of these social media tools in order to present a positive image and be recruited for a position that aligns with your passion. 
      • -- Dan Schawbel (HOW TO: Leverage Social Media for Career Success)
  • 31.  
  • 32. Weak Ties: Defined weak ties (acquaintances, not close friends) enable reaching populations and audiences that are not accessible via strong ties. weak ties
  • 33. • Weak ties can be powerful, but Challenging to build across cultures, languages, and preferred sites • Weak ties are powerful because they can give you what close friends and community often cannot (e.g., different ideas, connections, resources, models, etc) weak ties (cont)
  • 34. how can social media help?
    • Networking - getting to know more people in the industry you want to work in.
    • Share ideas – let people know who you are and what’s in your mind.
    • Get news – learn insights about the industry you work in.
    • Get noticed – good products needs good marketing to sell well, so do you.
  • 35. Twitter: dmediaacademy Blog: http:// digitalmediaacademy.blogspot.com / Facebook: http://www.facebook.com/digitalmediaacademy jump on the social media bandwagon now!