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Social Media: It's about time.
 

Social Media: It's about time.

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Introduction to social media presented to "Advertising & the Internet" class at Rutgers Business School in the MBA program.

Introduction to social media presented to "Advertising & the Internet" class at Rutgers Business School in the MBA program.

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  • People. Figuring out who can do this for you can be both confusing and daunting. Knowledge. This stuff changes all the time. You just learned Facebook and then Twitter came along. Now there is Foursquare and Groupon. What's next? How can anyone keep up with it and know which new tool is right for them? Culture. Is your company even open to the transparency, honesty, and sharing components that are core to social media? Budget. What should this cost? Where am I going to get the money?

Social Media: It's about time. Social Media: It's about time. Presentation Transcript

  • Social Media
    It’s about time.
    Hannah Redmond
    Rutgers Business School – Newark and New Brunswick
    February 2011
  • Social Media: It’s about time.
    New Media
    Social Media is the new WOM
    5 business areas affected
    Overview: 5 strategic elements of SM
    Measurement
    Ethics
    Challenges in Implementation
    Q&A
  • New Media
  • New Media
    Social Media = Consumer Generated Media
    New way of building relationships
    New way of managing your brand
    Get on board! People are using social media and talking about your brand with or without you
  • The new WOM
    Word of Mouth has changed
    The new water-cooler conversation
    News finds us
    • Video: Social Media Revolution
  • How does business benefit?
    When you properly embrace social media, it acts as a decision engine
    78% of people trust online reviews before buying a product*
    What happens when you read a great review?
    What happens when a friend, someone we trust, shares passion for a product?
    5 Main Ways
    *Nielson survey 2010
  • How does business benefit?
    5 main areas business benefits:
    1. Marketing
    2. Customer Service
    3. Communications/Public Relations
    4. Market Research
    5. Recruitment
  • Marketing
    Search Engine Optimization
    Engagement
    FREE to find niche communities
    FREE to find new opportunities and markets
  • Customer Service
    96% of dissatisfied customers don’t complain. Of those, 63% won’t buy from you again.*
    Be authentic
    Be transparent and honest
    * Strategic Planning Institute, 2010
  • Communications/PR
    SM provides more ways than ever to communicate a message
    Reach more audiences
    Encourages 2-way communication
    Mix of proactive + reactive communication
    Immediate response to a crisis
  • Market Research
    Problems in the market are now easier to find.
    More time can now be focused on finding solutions than finding the problem.
    SM stats provide insight on hot topics:
    Trending topics
    Search items
    Top tweets
    Traffic drivers
  • Recruitment
    For the job poster
    80% % of recruiters use social media to recruit, 95% of them use LinkedIn
    For the job seeker
    First impressions are no longer in interviews
    Make your personal profiles private
    Optimize your online presence
    Resumes are going social
  • 5 Strategic Elements of SM
    Sliding Scale:
    New Media vs. Traditional Media
    Mega Spaces vs. Niche Spaces online
    User-generated Content vs. Content Generated for the User
    One-way Communication vs. Two-Way Communication
    Mobile vs. Non-mobile
  • Measurement
    Traffic to site
    Media mentions
    Sales
    Trending topics
    & more…
    Example: Old Spice
    2700% increase in Twitter followers
    800% increase in Facebook fan page visits and
    300% increase in traffic to the brand website
    sales of its Body Wash more than doubled
  • Ethics
    Online it is easy to deceive consumers
    Being transparent, open, and honest is key
    WOMMA (www.womma.org)
    Not only is unethical, but can create a PR crisis
    Example: Edelman/Walmart
  • Challenges in implementation
    People
    Knowledge
    Culture
    Budget
    ‘Social Media Now,’ Larry Weintraub
  • Conclusion
    It’s time to embrace new and social media
    Knowing how to use SM for business makes you more marketable
    Jump in! Blog, tweet, join communities
    Find YOUR niche, build YOUR brand
  • Contact & helpful links
    Hannah Redmond
    hbredmond@gmail.com
    @Hannah_Redmond
    www.createrinserepeat.com
    www.linkedin.com/in/hannahredmond
    Blogs/Websites I follow:
    www.mashable.com
    www.digitallyapproved.com
    www.socialnomics.netwww.larrywblog.com
    Twitter accounts I follow:
    @mashable
    @fanscape
    @justindigital
    @scottmonty