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Social media brief

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This presentation was prepared to educate staff members of a Security firm on the basics of social media. I thought it wise to share with others!

This presentation was prepared to educate staff members of a Security firm on the basics of social media. I thought it wise to share with others!

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  • 1. TRENDZ
  • 2.  “Give a person a fish, and you feed them for a day; teach that person to use the social Media and they won’t bother you forever” -Alvin Ikpe  “The social Media platform is so big, so powerful and pointless that for some people it is complete substitute for life” - Alvin Ikpe  “The internet is becoming the town square for the global village of tomorrow” - Bill Gates (American Entrepreneur and Founder of Microsoft Co., b. 1955)
  • 3.  Social media includes web-based and mobile technologies used to turn communication into interactive dialogue. Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content."Social media is media for social interaction as a super-set beyond social communication. Enabled by ubiquitously accessible and scalable communication techniques, social media has substantially changed the way organizations, communities, and individuals communicate.
  • 4.  Social media takes on many different forms including magazines, Internet forums, weblogs, social blogs, microblogging, wikis, podcasts, photographs or pictures, video, rating and social bookmarking. By applying a set of theories in the field of media research (social presence, media richness) and social processes (self-presentation, self-disclosure) Kaplan and Haenlein created a classification scheme for different social media types in their Business Horizons article published in 2010. According to Kaplan and Haenlein there are six different types of social media:  1.collaborative projects (e.g., Wikipedia),  2.blogs and microblogs (e.g., Twitter),  3.content communities (e.g., YouTube),  4.social networking sites (e.g., Facebook),  5.virtual game worlds (e.g., World of Warcraft), and  6.virtual social worlds (e.g. Second Life).  Technologies include: blogs, picture-sharing, vlogs, wall-postings, email, instant messaging, music-sharing,crowdsourcing and voice over IP, to name a few. Many of these social media services can be integrated via social network aggregation platforms.
  • 5.  Social media services focus on some or all of seven functional building blocks (identity, conversations, sharing, presence, relationships, reputation, and groups). These building blocks help understand the engagement needs of the social media audience. For instance, LinkedIn users care mostly about identity, reputation and relationships, whereas YouTube’s primary building blocks are sharing, conversations, groups and reputation.  Many companies build their own social containers that attempt to link the seven functional building blocks around their brands. These are private communities that engage people around a more narrow theme, as in around a particular brand, vocation or hobby, than social media containers such as Facebook or Google+.
  • 6.  Social media presents an enormous challenge for firms, as many established management methods are ill-suited to deal with customers who no longer want to be talked at but who want firms to listen, appropriately engage, and respond. The authors explain that each of the seven functional building blocks has important implications for how firms should engage with social media. By analyzing identity, conversations, sharing, presence, relationships, reputation, and groups, firms can monitor and understand how social media activities vary in terms of their function and impact, so as to develop a congruent social media strategy based on the appropriate balance of building blocks for their community.
  • 7.  Increasingly, the term 'social business' is being used. This reflects that social media is not just a marketing discipline, but that it has multiple touch-points in an organization such as customer service, sales, human resource management and R&D. Social business is where social media has broken down silos and barriers that enable employees to have a genuinely more open and collaborative relationship with the outside world.
  • 8.  One of the key components in successful social media marketing implementation is building "social authority". Social authority is developed when an individual or organization establishes themselves as an "expert" in their given field or area, thereby becoming an influencer in that field or area.  It is through this process of "building social authority" that social media becomes effective. That is why one of the foundational concepts in social media has become that you cannot completely control your message through social media but rather you can simply begin to participate in the "conversation" expecting that you can achieve a significant influence in that conversation.
  • 9.  However, this conversation participation must be cleverly executed because while people are resistant to marketing in general, they are even more resistant to direct or overt marketing through social media platforms. This may seem counter-intuitive but is the main reason building social authority with credibility is so important. A marketer can generally not expect people to be receptive to a marketing message in and of itself. In the Edleman Trust Barometer report in 2008, the majority (58%) of the respondents reported they most trusted company or product information coming from "people like me" inferred to be information from someone they trusted. In the 2010 Trust Report, the majority switched to 64% preferring their information from industry experts and academics. According to Inc. Technology's Brent Leary, "This loss of trust, and the accompanying turn towards experts and authorities, seems to be coinciding with the rise of social media and networks."
  • 10.  A study by the University of Maryland suggested that social media services may be addictive,and that users of social media services leads to a "fear of missing out".  It has been observed that Facebook is now the primary method for communication by college students in the U.S. Several colleges have even introduced classes on best social media practices, preparing students for potential careers as digital strategists.  There are various statistics that account for social media usage and effectiveness for individuals worldwide. Some of the most recent statistics are as follows:
  • 11.  Social networking now accounts for 22% of all time spent online.  A total of 234 million people age 13 and older used mobile devices in December 2009.  Twitter processed more than one billion tweets in December 2009 and averages almost 40 million tweets per day.  Over 25% of U.S. internet page views occurred at one of the top social networking sites in December 2009, up from 13.8% a year before.  Australia has some of the highest social media usage in the world. In usage of Facebook Australia ranks highest, with over 9 million users spending almost 9 hours per month on the site.  The number of social media users age 65 and older grew 100 percent throughout 2010, so that one in four people in that age group are now part of a social networking site.  As of June 2011 Facebook has 750 Million users.
  • 12.  Facebook tops Google for weekly traffic in the U.S.  Social Media has overtaken pornography as the #1 activity on the web.  iPod application downloads hit 1 billion in 9 months.  If Facebook were a country it would be the world's 3rd largest.  U.S. Department of Education study revealed that online students out performed those receiving face- to-face instruction.  YouTube is the 2nd largest search engine in the world.  In four minutes and 26 seconds 100+ hours of video will be uploaded to YouTube.  Indians spend more time on social media than on any other activity on the Internet.
  • 13.  “In the U.S. alone, total minutes spent on social networking sites has increased 83 percent year-over-year. In fact, total minutes spent on Facebook increased nearly 700 percent year-over-year, growing from 1.7 billion minutes in April 2008 to 13.9 billion in April 2009, making it the No. 1 social networking site.”  The main increase in social media has been Facebook. It was ranked as the number one social networking site. Approximately 100 million users access this site through their mobile phone. According to Nielsen, global consumers spend more than 6 hours on social networking sites. "Social Media Revolution" produced by Socialnomics author Erik Qualman contains numerous statistics on Social Media including the fact that 93% of businesses use it for marketing and that if Facebook were a country it would be the third largest.In an effort to supplant Facebook's dominance, Google launched Google+ in the summer of 2011. 
  • 14.  Social media is not only a whole new way for consumers to communicate and express themselves, it’s also a whole new way for corporations to conduct business. Sure, a corporation can have a Twitter account and a Facebook fan page, but that’s the obvious application. Every day I see new applications for social media in market research, marketing communications, brand management, innovation, and even supply chain management.  Here are some ways I’m seeing social media applied in business.
  • 15.  For Brand Managers  Brand audit—You expend a lot of effort to create a specific image for your brand, but how successful are you? Is the image you want consumers to have the one they do, in fact, have? Social media gives you a quick and accurate way to find out. You can perform a brand audit by analyzing posts (also referred to as “sound bites” or “verbatim”) from consumers about a brand. The posts can be sorted into positive or negative classifications and then grouped into themes. Do this, and you’ll know if the brand positioning you want is the positioning you’ve got.  Tracking new product launches—You can analyze how sentiment and buzz in social media change over time (daily, weekly, monthly) following the launch of a new product.  Brand equity tracking—Brand managers and customer service managers can track a metric such as sentiment (positive or negative), which can be thought of as a measure of brand equity. What’s more, brand equity metrics obtained through social media analysis are available without waiting for survey data.  Ad campaign tracking—You can conduct a social media search for sound bites that refer only to commercials, print ads, YouTube videos and other media to judge reaction to a campaign.
  • 16.  For Customer Service  Consumer satisfaction measurement —This is really the same technique as brand equity tracking (i.e., tracking sentiment), but it’s used for customer service evaluation instead.  For Marketing  Demographic segmentation—You can segment your audience by gender and other factors to analyze opinions, behaviors and emotions of specific slices of your audience.  For Business Intelligence  Marketing spend ROI—Measure sentiment over time and then correlate it with marketing spend to show return on dollars invested in marketing programs.
  • 17.  For Market Researchers  Category analysis—What brands in a category get talked about the most? Which one do consumers like the most? The least? What is it about each brand that they like or dislike? You can use social media to find out all this and more. You can compare brands in a category on various attributes, including share of buzz, overall sentiment, and key positive and negative themes. This blog post shows the technique applied to the casual dining segment. You can also trend these metrics over time, something that’s easy to do with social media but has proven difficult to do on a frequent basis with traditional research.  Competitive intelligence—Using traditional methods, in-depth analysis of consumer sentiment about your competitors is prohibitively expensive (not to mention time-consuming), but not so when using social media. This is probably the most common use I’ve seen for social media in business.
  • 18.  Product innovation—An innovation technique that social media supports is incremental innovation, where you improve your existing product by fixing the complaints or by finding out what people like about your competitor and adding those benefits to your product. In addition, consumer feedback can directly or indirectly lead to ideas for new products or new product features or applications.  Lead User Scouting—You can search social media for “lead users,” who are users of a product or service that currently experience needs still unknown to the public and who would benefit greatly if they could find a solution to these needs. If they do, their solution can be commercialized, and the Lead User Method suggests it will be more successful than most. Best examples of such consumer-generated product ideas are the sports drink Gatorade, developed with input from athletes, and the “liquid paper” invented by a secretary for correcting typos. 
  • 19.  For Public Relations  Hot-issue identification—This is a basic “listening” function that reports on what’s being said in social media, but many PR managers are starting to use social media to get an in-depth analysis of what is being said, allowing them to move beyond what to why.  Crisis management—PR managers can use social media listening to detect a steep drop in sentiment, and can analyze sound bites to understand the issue and help them devise a plan to address it.  For R&D  New product development—Companies can analyze social media to help develop a new product for an existing category by identifying everything people like and dislike about existing products in the category, then introducing a great product that has all the benefits and none of the problems.  For Sales  Lead generation—Sales staff can find sound bites where consumers have made negative remarks about a product. If your company makes a similar product that doesn’t have the flaws mentioned, you can respond directly to consumers, recommending they try your product.
  • 20.  For Social Media Managers  Community participation—Sure, you should be on twitter and facebook. But where else should you be looking? Is there a topic-centric forum that happens to discuss your brand a lot? Is there a popular group of bloggers who discuss your products? You can analyze where the social media conversation about your brand is taking place so you can engage consumers in those communities to counteract negative opinions and/or inaccurate information.  Brand snapshot report—You can create a report you send on a regular basis to decision-makers, giving an up-to-the-minute read on consumer perception of your brand as compared to other brands.  For Category Managers  For Mergers & Acquisitions  Due diligence—Business managers can use netnography to get up to speed on what consumers think of a company they’re about to buy. It’s like being able to do focus groups on the acquisition target’s consumers—but much, much faster and more cost-effectively.  For Stockbrokers  For Supply Chain Managers
  • 21.  Facebook is social networking website that is operated and privately owned by Facebook, Inc. Users can add friends, send them messages, and update their personal profiles to notify friends about themselves. Users can also join networks organized by city, workplace, school, and region. The website's name stems from the colloquial name of books given at the start of the academic year by university administrations with the intention of helping students get to know each other better..  More than 300 million active users.  50% of our active users log on to Facebook in any given day.  The fastest growing demographic is those 35 years old and older.  Average user has 130 friends on the site.  About 70% of Facebook users are outside the United States.  There are more than 65 million active users currently accessing Facebook through their mobile devices
  • 22.  Twitter is a free social networking and micro- blogging service that enables its users to send and read messages known as tweets. Tweets are text based posts of up to 140 characters displayed on the author's profile page and delivered to the author's subscribers who are known as followers. Senders can restrict delivery to those in their circle of friends or, by default, allow open access. Users can send and receive tweets via the Twitter website, Short Message Service (SMS) or external applications.
  • 23.  Research reported in New Scientist in May 2008 found that blogs, maps, photo sites and instant messaging systems like Twitter did a better job of getting information out during emergencies than either the traditional news media or government emergency services. The study also found that those using Twitter during the fires in California in October 2007 kept their followers (who were often friends and neighbors) informed of their whereabouts and of the location of various fires minute by minute. Organizations that support relief efforts are also using Twitter. The American Red Cross started using Twitter to exchange minute-to-minute information about local disasters including statistics and directions.  During the 2008 Mumbai attacks eyewitnesses sent an estimated 80 tweets every 5 seconds. Twitter users on the ground helped compile a list of the dead and injured. In addition, users sent out vital information such as emergency phone numbers and the location of hospitals needing blood donations. CNN called this "the day that social media appeared to come of age" since many different groups made significant use of Twitter to gather news and coordinate responses.  In January 2009, US Airways Flight 1549 experienced multiple bird strikes and had to be ditched in the Hudson River. Janis Krums, a passenger on one of the ferries that rushed to help, took a picture of the downed plane as passengers were still evacuating and sent it to Twitpic before any other media arrived at the scene.  The Australian Country Fire Authority used Twitter to send out regular alerts and updates regarding the February 2009 Victorian bushfires. During this time the Prime Minister of Australia, Kevin Rudd, also used his Twitter account to send out information on the fires, how to donate money and blood, and where to seek emergency help.  Also in April, public health departments used Twitter to provide updates on H1N1 cases.
  • 24.  LinkedIn is a business-oriented social networking site founded in December 2002 and launched in May 2003 mainly used for professional networking. As of July 2009, it had more than 43 million registered users, spanning 170 industries. The purpose of the site is to allow registered users to maintain a list of contact details of people they know and trust in business. The people in the list are called Connections. Users can invite anyone, whether a site user or not, to become a connection.
  • 25.  MySpace is a social networking webiste targeted at a general audience. Launched in 2003, it became one of the most visited websites in the world within a few years. With almost a billion visits per month, MySpace is the most popular social network. MySpace became the most popular social networking site in the United States in June 2006.  Tagged.com is a social networking site founded in 2004. Tagged is the subject of numerous customer complaints for sending deceptive bulk mail and is regarded as a phishing and spamming site and an "E-mail scam" by consumer anti-fraud advocates. The site initially targeted U.S. Highschool students but has since opened to users worldwide age 13 and older. The site allows its users to build and customize profiles, send messages, leave comments, post bulletins, customize status, browse photos, watch videos, play games, chat and make friends.  Bebo, an acronym for "Blog early, blog often", is a socail networking website, founded in January 2005. It can be used in many countries including Ireland, Canada, the United States, the United Kingdom, New Zealand and Australia. Bebo is similar to other social networking sites. Each profile must include two specific modules, a comment section where other users can leave a message, and a list of the user's friends.
  • 26. THANK YOU !