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MaRS Discovery District: Social Business: an Evolution in Developing Sustainability
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MaRS Discovery District: Social Business: an Evolution in Developing Sustainability

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A fundamental shift in business communications is taking place. Technology is changing rapidly, real-time discussions are having more impact on business and the global economy is moving toward greater …

A fundamental shift in business communications is taking place. Technology is changing rapidly, real-time discussions are having more impact on business and the global economy is moving toward greater efficiency and austerity. In this environment, it is critical to maximize effective communication and build a sustainable approach to customer retention.

Lean startups appreciate that social media is inherently inexpensive. But it is also key to recognize that it takes time and much effort―part of the “sweat equity” that many businesses require.

This presentation provides guidance in developing and implementing a social media and customer relationship management (CRM) business strategy: Building a presence, maintaining a reputation and creating a sustainable business for the long term.

Published in: Business, Technology

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  • .
  • An unstable world economy that results in business flux and move towards developing efficiencies. We live in a turbulent economy --- witnessed in the lst few yearsThe credit bust in 2008, not only affected the the US Economy but the world as wellMajor Financial sectors, The Auto Market that seemed to have always been unbreakable ---- were breaking.Last few years, we were witnessing the European economy begin its own collapse ---- they’ve realized the need for financial rationalization.The austerity measures Greece, Spain and many european economies are experiencing are in turn impacting health care, their education, pensions and EMPLOYMENTThis, in turn, affects the job market and the resource constraints that are put upon businesses
  • The US is still in recovery modeThe recent Fiscal Cliff issues, when the terms of the Budget Control Act of 2011 are scheduled to go into effect.Taking into consideration a rollback of the Bush cuts from early decade,The beginning of taxes related to Obama’s health care lawAnd NOW spending cuts government wide that you’re seeing in sequestering plansAll a part of cracking the debt ceiling of $1.2 trillion within 10 yearsThis in turn means that rationaliztion is rampant globally. --- Spending cuts across organizations --- companies have now become more accountable.
  • Product saturation/abundance was bourne in an age of mass production and mass communication. These days, the opposite is true. Enter Mass customization that’s given rise to increased customer service.We are moving to a niche economy.Everybody has shoes, everyone has a TV ---- NOW it’s about taking those mass goods and creating more personalized products to individual customers.The process of delivering wide-market goods and services that are modified to satisfy a specific customer need. Mass customization is a marketing and manufacturing technique that combines the flexibility and personalization of "custom-made" with the low unit costs associated with mass production.allows the customer to purchase a product which has been customized to meet his/her exact needs, for example the color of his/her car, his own drawing on a T-shirt or creating a pair of customized sneakers. From a company perspective, mass customization has been defined as the ability to provide customers with whatever they want, whenever they want it, wherever they want it and however they want it. It has been heralded as a change of paradigms from the mass production paradigm to the mass customization paradigm and named a significant competitive advantage in the future.This has given rise to the service economy.
  • The balance of power is shiftingTechnology has also splintered communications which has changed from a one-way to two-way channel. Up until just over a decade ago, the voice of the consumer was but a whisper. Nowadays it’s being heard loud and clear.The balance of power is shifting from companies to the networks that surround them. Connected, communicating customers and employees have more choices, and more amplified voices, than ever before. They have more knowledge than ever before.
  • Memo leakedAnger and frustration: employees understand that if they can’t impact changes internally, they’ll leverage the voice of the networks to put a company in its place.Amplified media
  • While the nation wrestled with the aftermath of a shooting in Colorado that left 12 people dead, a Twitter account for theNational Rifle Association had this to say:"Good morning, shooters. Happy Friday! Weekend plans?"That tweet was posted at 9:20 a.m. ET on Friday by an account for "American Rifleman," the official NRA journal. The group, which advocates for gun owners, appeared to have been pulled down from the Internet as of about 12:30 p.m. ET Friday.Shooting turns movie into surreal horror
  • One way static communication has changed to an interactive two-way dialogue. --- turned off their twitter for a few hours just to avoid the dialoguePeople are conversing with you whether you like it or not.They turned off their twitter account – someone mistakenly tweeted from the official City of Vaughan account
  • The mere perception of not being able to secure one’s own Twitter account raises a host of questions regarding basic competencies and safeguards.Though the breach in cyber security raises some serious concerns for Burger King, the brand didn’t just dodge a bullet on this one–it received a significant social media boost.It’s simple, really: unlike the BET/MTV fake hacking stunt, this little incident inspired a lot of people to follow Burger King, which means the audience for its next Twitter campaign will be that much bigger. Better get ready to bring your A game, BK.
  • 'The official Twitter handle for the Jeep - Just Empty Every Pocket. Sold to Cadillac ... In a hood near you!' read the tagline on Jeep's Twitter page.
  • Customer Expectations are changing. The customer is now in the driver’s seat.
  • old school value --- ONE way -- what are you doing for me ----- data in banks what you’re doing --- your value is derived based on what you buy, how much are you giving to me? as a company.Now it’s a two way street and companies need to understand that retention is getting to be really hard. Keeping a customer means doing 10 times more than you have before.
  • Customer Expectations are changing
  • This dialogue has drastically increased this well of data/information that has the ability to radically inform and provide more  power in decision-making
  • This is the advantage: where can I get social to scale
  • Why we need storytelling: People are being bombarded with brand messages. From social media to email, to advertising, the copious ways that brands are trying to spread their messages has left a sour taste in many people’s mouths, creating a sense of information overload anger and frustration; resulting in people “switching off”.There is a need to tell your story because people will take fragments of content we put out there, stitch it together and create perception about you as a company. You can’t afford to sit back and let others control the message. You need to do it yourself.entering fictional worlds “radically alters the way information is processed.” Green and Brock’s studies shows that the more absorbed readers are in a story, the more the story changes them.Narrative techniques help companies to explain their philosophies, policies and approach on business- focused topics... And customers will listen.
  • Indium Corporation develops and manufactures materials used primarily in the electronics assembly industryRead more: http://www.indium.com/#ixzz2M9avDIMq - See more at: http://www.indium.com/#sthash.fpniDVFl.dpuf
  • Indium Corporation develops and manufactures materials used primarily in the electronics assembly industryRead more: http://www.indium.com/#ixzz2M9avDIMq - See more at: http://www.indium.com/#sthash.fpniDVFl.dpuf
  • People connect to people. People don’t connect to companies. Building a network from scratch is incredibly hard and it takes a long time. BUT this can be started quickly --- look in your own back yard.http://www.dachisgroup.com/2013/01/how-to-inspire-employee-advocacy/he project began about a year ago and has about 160 Intel employees curating news and feature articles but the goal is to have more than 5,000 staff-those that have had social media training — take part in the daily selection process.The focus of 'iQ' is on tomorrow, on the 'how', on the types of things people can and will do with technology. This is about using your front lines – your employees to take the lead – to give the company a face.
  • Sal Khan, you can count Bill Gates as your newest fan. Gates is a voracious consumer of online education. This past spring a colleague at his small think tank, bgC3, e-mailed him about the nonprofitkhanacademy.org, a vast digital trove of free mini-lectures all narrated by Khan, an ebullient, articulate Harvard MBA and former hedge fund manager. Gates replied within minutes. "This guy is amazing," he wrote. "It is awesome how much he has done with very little in the way of resources." Gates and his 11-year-old son, Rory, began soaking up videos, from algebra to biology. Then, several weeks ago, at the Aspen Ideas Festival in front of 2,000 people, Gates gave the 33-year-old Khan a shout-out that any entrepreneur would kill for. Ruminating on what he called the "mind-blowing misallocation" of resources away from education, Gates touted the "unbelievable" 10- to 15-minute Khan Academy tutorials "I've been using with my kids." With admiration and surprise, the world's second-richest person noted that Khan "was a hedge fund guy making lots of money." Now, Gates said, "I'd say we've moved about 160 IQ points from the hedge fund category to the teaching-many-people-in-a-leveraged-way category. It was a good day his wife let him quit his job." Khan wasn't even there -- he learned of Gates' praise through a YouTube video. "It was really cool," Khan says.In an undistinguished ranch house off the main freeway of Silicon Valley, in a converted walk-in closet filled with a few hundred dollars' worth of video equipment and bookshelves and his toddler's red Elmo underfoot, is the epicenter of the educational earthquake that has captivated Gates and others. It is here that Salman Khan produces online lessons on math, science, and a range of other subjects that have made him a web sensation.
  • What is Buffer?We designed Buffer to offer you a both personal and yet more efficient solution to handle sharing on social media.Buffer makes your life easier with a smarter way to schedule the great content you find. Fill up your Buffer at one time in the day and Buffer automagically posts them for you through the day. Simply keep that Buffer topped up to have a consistent social media presence all day round, all week long.
  • Listening systems cost money – you can twilertNotify you whenever you want
  • Twtrland
  • he effectiveness of video as a storytelling medium, in particular, stands out. Companiesare more willing to invest in professionally-shot video footage because video works and because web users (especially younger ones – who will determine corporate reputations in future, if they do not do so now) are more video-centric.
  • Threadless is an online community of artists and an e-commerce website based in Chicago, Illinois. In 2000, co-founders Jake Nickell and Jacob DeHart started the company with $1,000 of their own money.[2]Threadless designs are created by and chosen by an online community. Each week, about 1,000 designs are submitted online and are put to a public vote. After seven days the staff reviews the top-scoring designs. Based on the average score and community feedback, about 10 designs are selected each week, printed on clothing and other products, and sold worldwide through the online store and at their retail store in Chicago. Designers whose work is printed receive $2,000 in cash and $500 in Threadless gift cards, which can be exchanged for $200 cash.[3] Each time a design is reprinted, the respective artist receives $500 cash.Get market validation from your community --- let them tell you what they want and need --- use this to ONLY develop what the market is looking for.
  • Very different
  • To create 1-to-1 relationships with big dividends, look for advocates who help spread the word. Blogs are the best place to start. There are search engine for blogs: Technorati and Alltop. They’ll help you find the bloggers with the most authority for any industry or subject.  Plus, there’s Topsyto show the top trending blog posts on Twitter for any industry or topic. HubSpot says blogs lead to 55% more website visitors. Blogs also add “links” that raise your “authority” and search rank.
  • Grow your audience organically, don’t buy them.
  • Egypt CrisisOscars
  • Reach for the sky, says Lockheed Martin Defence giant Lockheed Martin has the decided advantageof a photogenic product portfolio; but many other companies are just as well placed and fail to capitalise. At least part of the secret is that Lockheed Martin keeps it simple: the site is stripped down, functionally designed and easy to navigate – whether consciously or unconsciously, echoing the values of the product brand. Lockheed Martin also knows how to capture our attention. The homepage tells the story of its best- known weapons, space and security systems in words, videoand dramatic images. Perhaps best of all is the homepage’s ‘Life at Lockheed Martin’ video feature, in which engineers tell personal stories about what brought them into the business and challenges they have faced. It’s inspiring stuff for any young person considering a career in engineering, and helps to some extent to humanise the business of war.
  • “We’re experts at airplanes but novices in social media. We’re learning as we go.” –BoeingThousands visit blog, NYTimes, Forbes, ABC TV (Seattle & Denver)Boeing Communications and Engineer respondsInvitation to visit Boeing and Future of Flight
  • Transcript

    • 1. Confidential ArCompany Inc. — February 27, Slide · 1Social Business: An Evolution inDeveloping SustainabilityPrepared for: MaRS DiscoveryDistrictFebruary 27, 2013
    • 2. Confidential ArCompany Inc. — February 27, Slide · 2we are on the verge ofmajor disruption…fundamental globalchanges are happening
    • 3. Confidential ArCompany Inc. — February 27, Slide · 3an unstable world economy
    • 4. Confidential ArCompany Inc. — February 27, Slide · 4an unstable world economy
    • 5. Confidential ArCompany Inc. — February 27, Slide · 5mass customization
    • 6. Confidential ArCompany Inc. — February 27, Slide · 6the balance of power is shifting
    • 7. Confidential ArCompany Inc. — February 27, Slide · 7employees have no loyalty
    • 8. Confidential ArCompany Inc. — February 27, Slide · 8companies are making mistakes
    • 9. Confidential ArCompany Inc. — February 27, Slide · 9companies are making mistakes
    • 10. Confidential ArCompany Inc. — February 27, Slide · 10reputation is increasingly vulnerable -@BurgerKing
    • 11. Confidential ArCompany Inc. — February 27, Slide · 11reputation is increasingly vulnerable
    • 12. Confidential ArCompany Inc. — February 27, Slide · 12reputation is increasingly vulnerable -@Jeep
    • 13. Confidential ArCompany Inc. — February 27, Slide · 13marketing is deadthe customer is in control
    • 14. Confidential ArCompany Inc. — February 27, Slide · 14Value is the New Norm
    • 15. Confidential ArCompany Inc. — February 27, Slide · 15we are moving frommass marketing…at an individual level…to mass engagement…among millions at onetime
    • 16. Confidential ArCompany Inc. — February 27, Slide · 16Start-ups are poised to do thisCost: Nominal marketinginvestmentInsight toolsResearch Employee effortUnderstandingDesireConsistencyAnalysisEngagementBenefits: Improved organic search engineranking Increased brand visibility Thought leadership development Comprehensive market insights Increased network opportunities:partners, clients, amplification Support development of products Gain competitive intelligence Retain clients Sustainability
    • 17. Confidential ArCompany Inc. — February 27, Slide · 17conversation data is abundant
    • 18. Confidential ArCompany Inc. — February 27, Slide · 18Technology can help us listen to everythingthat’s being said about ourselves, ourcompany, our brand…….But finding that one key, that game-changinginsight in a sea of chatter and then actuallydoing something about it is another story.David Armano“”
    • 19. Confidential ArCompany Inc. — February 27, Slide · 19control your message
    • 20. Confidential ArCompany Inc. — February 27, Slide · 20news travels fast…search and social areconnectedIncreasingly,product quality andwhat a brandstands for aredetermined byGoogle
    • 21. Confidential ArCompany Inc. — February 27, Slide · 21tell your story from the beginning
    • 22. Confidential ArCompany Inc. — February 27, Slide · 22develop thought leadership: Indium Corp
    • 23. Confidential ArCompany Inc. — February 27, Slide · 23develop thought leadership: Indium CorpContent – Contact -Cash600% increase inlead generationfrom 1 quarter tothe nextSocial Media salesleads ―are the bestleads everreceived‖
    • 24. Confidential ArCompany Inc. — February 27, Slide · 24establish community fromthe get-go
    • 25. Confidential ArCompany Inc. — February 27, Slide · 25advocacy starts with employees
    • 26. Confidential ArCompany Inc. — February 27, Slide · 26use video to tell your story:khanacademy.org
    • 27. Confidential ArCompany Inc. — February 27, Slide · 27be organized andconsistent
    • 28. Confidential ArCompany Inc. — February 27, Slide · 28schedule posts ahead of time
    • 29. Confidential ArCompany Inc. — February 27, Slide · 29know when people are talking about you
    • 30. Confidential ArCompany Inc. — February 27, Slide · 30measure your engagement
    • 31. Confidential ArCompany Inc. — February 27, Slide · 31determine the health of your tweets
    • 32. Confidential ArCompany Inc. — February 27, Slide · 32be interested andinteresting in social
    • 33. Confidential ArCompany Inc. — February 27, Slide · 33image footprints - @JESS3
    • 34. Confidential ArCompany Inc. — February 27, Slide · 34adapt and allow for co-creation @threadless
    • 35. Confidential ArCompany Inc. — February 27, Slide · 35target smartly
    • 36. Confidential ArCompany Inc. — February 27, Slide · 36find the right people to follow
    • 37. Confidential ArCompany Inc. — February 27, Slide · 37target through conversation
    • 38. Confidential ArCompany Inc. — February 27, Slide · 38know your audience
    • 39. Confidential ArCompany Inc. — February 27, Slide · 39be relevant
    • 40. Confidential ArCompany Inc. — February 27, Slide · 40content is king: from curation….
    • 41. Confidential ArCompany Inc. — February 27, Slide · 41…to organized stories
    • 42. Confidential ArCompany Inc. — February 27, Slide · 42humanize
    • 43. Confidential ArCompany Inc. — February 27, Slide · 43personal stories: Lockheed Martin
    • 44. Confidential ArCompany Inc. — February 27, Slide · 44turn detractors into promoters: Harry Winsor andBoeing
    • 45. Confidential ArCompany Inc. — February 27, Slide · 45
    • 46. Confidential ArCompany Inc. — February 27, Slide · 46
    • 47. Confidential ArCompany Inc. — February 27, Slide · 47
    • 48. Confidential ArCompany Inc. — February 27, Slide · 48social CRM is aboutbuilding advocacy andbusiness sustainability
    • 49. Confidential ArCompany Inc. — February 27, Slide · 49sCRM: AmplifiedOld School The Social WayMain Driver Transaction ConversationMarketing planned, one-way,Inflexiblenimble, hyper-responsible, dialogue,insightsSales black book andtransaction-driveninteraction-based,sourced from insightsCustomer Support limited hours, script-baseddynamic, ―always on‖,multiple platformsFeedback occasional surveys,quarterly customerinsightsmultiple platforms thatfeedback into Sales,Marketing, Support in realtime
    • 50. Confidential ArCompany Inc. — February 27, Slide · 50Thank youhessie.jones@thearccompany.com@hessiejones647-999-2348