Social media marketing
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A presentation I made for a group of marketing executives from a variety of Swedish companies in February 2011.

A presentation I made for a group of marketing executives from a variety of Swedish companies in February 2011.

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    Social media marketing Social media marketing Presentation Transcript

    • EXPLORING VALUE CREATION THROUGH SOCIAL MEDIA DR. ROBIN TEIGLAND STOCKHOLM SCHOOL OF ECONOMICS [email_address] WWW.KNOWLEDGENETWORKING.ORG WWW.SLIDESHARE.NET/ETEIGLAND ROBINTEIGLAND
    • "...when the rate of change outside an organization is greater than the rate of change inside, the end is near...." Jack Welch…
      • Did You Know: Shift Happens
      • http://www.youtube.com/watch?v=cL9Wu2kWwSY
      • How are these trends impacting you and your organization?
    • Human capacity cannot keep up… Growth Time Information and knowledge Human absorptive capacity Adapted from Cohen & Levinthal 1989
      • ” No one knows everything,
      • everyone knows something,
      • all knowledge resides in humanity.”
      networks Adapted from Lévy 1997 Six degrees of separation - Milgram, 1967
    • The wisdom of the crowd Closed Expensive Complex Accurate Open Inexpensive Simple Close enough Hinton 2007 Accurate
    • History tends to repeat itself…. Innovation, financial crisis, industrial revolution, … Steam engine Internal combustion engine Microelectronics Late 18 th C Late 19 th C Late 20 th C Schön 2008 Third industrial revolution?
    • Prensky 2001, Beck and Wade 2004 “ Digital Immigrants” “ Digital Natives” Company loyalty Work ≠ Personal Learning=Behind the desk Individualism Professional loyalty Work = Personal Learning=Fun and games Collectivism
    • http://www.slideshare.net/helgetenno/post-digital-marketing-2009
    • ..using social media to learn, solve problems, and build relationships Adapted from FredCavazza.net
    • What are social media?
      • Media that..
      • enable communication & collaboration …
      • through user-generated content ….
      • from one-to-one to many-to-many people …
      • - across all boundaries
    • Drivers of change Increased Interactivity DiGangi 2010
    • From organization-generated content (OGC) to user-generated content (UGC) Content created by a user to be used by a user Shifting sources of value Content created by an organization to sell to a user Di Gangi 2008
    • Inc 500 companies report success Barnes, 2010 Inc. 500 Update: Most Blog, Friend And Tweet But Some Industries Still Shun Social Media
    • But most ”traditional” companies… … are here Teigland, The Network Survey, 2010 Organizational use Employee use No use Ban use One-way “broadcasting” Allow use Encourage use Two-way conversations
    • In your groups…
      • … .investigate the use of social media
      • for service/product promotion
      • for customer service
      • for service/product innovation
      • through exploring new uses: geotagging, “groupon”, mobile, etc.
      • Prepare max 10 min ppt presentation
        • Post links and comments on wiki
        • Show examples
        • What could you do at your companies?
    • Some companies to investigate
      • Ford, JetBlue, Southwest Airlines
      • Starbucks, Best Buy
      • Dell, IBM, Cisco, Symantec
      • Threadless, Zappos
      • Nike, Coca-Cola, Old Spice
      • Lego
    • Some search tips
      • Some search words for search engines
        • Social media - Twitter
        • Social networking - Facebook
        • Web 2.0 - LinkedIn
        • Foursquare
      • Some sites
        • Company homepage blogs
        • www.wikipedia.org www.slideshare.net
        • www.youtube.com www.flickr.com
        • www.linkedin.com www.facebook.com
        • www.twitter.com www.foursquare.com
        • http://www.delicious.com/tag/facebook+casestudies
        • http://www.socialmediaexaminer.com
    • Social Media Wiki – one per group http://knowledgenetworking.pbworks.com/w/page/36197617/Social+Media+-+Promotion
    •  
    • My Starbucks Idea
    • Lego
    • IKEA http://www.youtube.com/watch?v=0TYy_3786bo
    • >16,000 unique visitors http://www.hhs.se/se/BusinessAndSociety/Press/pressmeddelanden/Pages/aretsaffarskreator2011.aspx
    • http://sararywe.blogspot.com/
    • Groupon
    • http://techcrunch.com/2011/02/10/meeker-mobile-slides/
    • http://techcrunch.com/2011/02/10/meeker-mobile-slides/
    • Social media enable communities
    • Why do people participate? http://www.slideshare.net/vnnw/social-media-marketing-english-edition-4470494
    • Why do people participate?
    • Two individuals/organizations with the same number of contacts… B A
    • … but with very different access to resources B A
    • A High creativity and innovative performance Teigland 2003 B www.youtube.com/watch?v=NugRZGDbPFU Poor creativity and innovative performance
    • Business models So, what happens to them? Johnson, Christensen, and Kagermann 2008, DiGangi 2010
    • They evolve... DiGangi 2010
    • Closed model
        • Organizations internalize resources for value creation; restrict access to knowledge, and protect intellectual property.
      DiGangi 2010
    • DiGangi 2010
    • Open model
        • Organizations leverage both internal and external resources for value creation; strategically interact with environment
      DiGangi 2010
        • “ Distributed groups of individuals focused on solving general problem and/or developing new solution supported by computer-mediated communication.”
        • Dahlander & Wallin, 2006 p. 1246
      User-driven Innovation DiGangi 2010
    • DiGangi 2010
        • “ Distributed groups of individuals focused on solving general problem and/or developing new solution supported by computer-mediated communication.”
        • Dahlander & Wallin, 2006 p. 1246
      User-driven Innovation
    • http://www.slideshare.net/themoleskin/introduction-to-social-meida?from=ss_embed
    • Co-created model
        • Organizations encourage flow of knowledge between internal and external resources; focus on common good where both parties benefit
      DiGangi 2010
    •  
    • eZ 230+ Partners 32,000+ Community members 5,000+ Customers in 130 countries
      • Content management software, #1 in media industry
      • Customers: UN, Vogue, Hitachi, 3M, MIT, FT, WSJ
      • 75 employees in 9 countries (US, Europe & Asia)
    • eZ Philosophy Connecting people who share a passion for something they do so that they can collaborate, share ideas, learn, and create knowledge
    • The backbone of eZ Systems is social media - throughout the value chain
    • eZ provides platforms for interaction throughout its ecosystem eZ Software development team
        • Driven by both parties sharing their experiences and co-creating value of network
      Private-collective Community
    • But how to balance needs of community with needs of firm in value co-creation model? DiGangi et al 2010
    • http://www.slideshare.net/themoleskin/introduction-to-social-meida?from=ss_embed
    • Transparency, transparency, transparency http://twitter.com/#!/zappos Core Value #6: "Build Open and Honest Relationships with Communication
    • Some things do not change Innovation Exchange Exchange Trust Trust Relationships Relationships Interaction
    • http://slideshare.net/missrogue "E-connection is processed in the brain like an in-person connection."
    • IBM’s blogging policy & guidance, created by the employees Policies based on IBM’s Business Conduct Guidelines Apply internally and externally Available on ibm.com “ blogging guidelines” Adapted from Poole 2008
    • Management cannot mandate social relationships My company has blocked my computer from accessing most of the social media sites. But I feel so cut off from my network. So, now I just connect through my phone.
    • Empower employees to make right decisions
      • Trust your employees and enable social media use
      • Discuss social media usage and guidelines
        • Use wikis to enable employees to create company guidelines
      • Provide examples of good use and poor use
      • Check out others’ guidelines
        • http://socialmediagovernance.com/policies.php
      When trusted, employees feel empowered to do the right thing!
    • Communicate competitive landscape What is our strategy? 1. Who are our customers ? 2. What products do we sell? 3. How do we create value? 4. Who are our competitors? https://www.securestate.com/PublishingImages/Competition-(BIG).gif
    • There is nowhere to hide http://www.youtube.com/watch?v=t8XxcOj3Seo Fortune, Rey 2008 Monitor social media sites and react in timely fashion
    • U r always on… http://meritwager.wordpress.com/2009/08/04/fragor-till-forsaljningschefen-pa-fortum-varme/
    • Users create their own meanings Wesch 2008
    • Monitor with social analytics http://analytics.topsy.com/ http://analytics.topsy.com/
    • Who are the Twitter influencers? http://www.briansolis.com/2011/02/the-interest-graph-on-twitter-is-alive-studying-starbucks-top-followers/
    • Word cloud of Starbucks’ top 50,000 consumer profiles http://www.briansolis.com/2011/02/the-interest-graph-on-twitter-is-alive-studying-starbucks-top-followers/
    • A day in the life of a Foursquare user http://www.briansolis.com/2011/01/checking-in-to-the-state-of-foursquare/
    • Social Mobile Location http://www.relenet.com/
    • http://techcrunch.com/2011/02/10/meeker-mobile-slides/
    • http://techcrunch.com/2011/02/10/meeker-mobile-slides/
    • www.rabble.se
    •  
    • Just when you thought you got it….. O’Driscoll 2009
    • Building skills in virtual environments
      • My CV
      • Leading a virtual team of 30 individuals from across the globe
      • Creating and successfully executing strategies under pressure
      • Managing cross-cultural conflict without face-to-face communication
      Teigland 2010
    • How many usually think of virtual worlds… Teigland 2010
    • But what else can they be?
      • Ability to manipulate/create content
      • Virtual economy and currency
      http://www.youtube.com/watch?v=Quh2OiPHkm8
    • Egypt protests inworld
    • VWs moving out of “Gartner hype cycle” trough Virtual worlds today http://www.gartner.com/it/page.jsp?id=1447613 >1 bln users May 2006 July 2007
    • http://www.slideshare.net/nicmitham/kzero-radar-q1-2011?from=ss_embed
    • Accelerating innovation to meet global needs Teigland et al. 2010 Integrating users in development process http://www.youtube.com/watch?v=2kMNWBU1Yb8
    • Leveraging VW affordances Teigland et al 2010 Simulation Avatar design Multi-modal communication Co-creation Archiving Immersion
    • “ Clearly if social activity migrates to synthetic worlds, economic activity will go there as well.” Castranova, 2006 http://www.flickr.com/photos/rodenberger/5085364909/in/pool-popartlab/#/photos/rodenberger/5085364909/in/pool-1240578@N23/
      • US $ 3 bln in virtual good sales in 2009 to grow to US $ 12 bln in 2012
      • US $222,000 raised at American Cancer Society Relay in Second Life
      • Swedish government granted b ank license to Mind Bank in 2009
    •  
    • USD 635,000 for an asteroid! http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who-just-made-a-cool-half-million-from-the-sale-of-virtual-property/ USD 500,000 profit in 5 years -Jon “Neverdie” Jacobs
    • The rise of Avapreneurs (avatar+entrepreneur)?
      • Global markets
      • Micropayments
      • Microemployees
      Teigland 2010
    • 3D interactive marketing
      • Miss Calypso Virtual Beauty Pageant on Planet Calypso
        • Fashions modeled by avatars on virtual catwalk
        • State of flow -> greater purchase intent and positive brand attitudes
      Hooker 2010
    • Increasing pace of VW development! VWs on stick Browser-based VWs Seamlessness http://www.hypergridbusiness.com/2009/05/hypergrid-101-why-its-good-for-business/ http://mediagrid.org/groups/technology/OFF.TWG/ "Create Once, Experience Everywhere” Expanding uses For smart phones and tablet PCs
    •  
      • Virtual currency to buy virtual goods in over 100 games and applications on Facebook platform
      • Purchase with credit card, PayPal, mobile phone or in physical stores (such as Walmart)
      • Intention is to make it easy for people to purchase games and virtual goods within them
      • On every purchase Facebook takes 30% of revenue
      • Some argue Facebook Credits will develop into F-commerce while others think it will only be for games
      • In study with almost 3000 respondents: Will you be buying and spending Facebook Credits?
        • 17 % Yes, absolutely
        • 58 % No, absolutely not
        • 25 % I have to learn more
      Facebook Credits – A new economy? Group 8b , Course 2304, Media Management 2011
    • “ As soon as the Facebook generation wakes up and embraces virtual reality, we are going to see a giant wave of virtual world millionaires” -Jon “Neverdie” Jacobs
    • FOR YOU?
      • Key takeaways:
      • Learn from online interactions and then innovate based on what customers want
      • Provide structured opportunities for people within the business to learn about and participate in social media presence
      • Executive support, dedicated personnel and key champions
      • Humanize the business, and give opportunities for customers to tell their stories
      • Social Media Guidelines for your people
      • What are the opportunities for you?
    • Karinda Rhode aka Robin Teigland [email_address] www.knowledgenetworking.org www.slideshare.net/eteigland www.nordicworlds.net RobinTeigland Photo: Lindholm, Metro Photo: Nordenskiöld Photo: Lindqvist If you love knowledge, set it free…
    • Interested in learning more ?