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The Business Value of Social Media
 

The Business Value of Social Media

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    The Business Value of Social Media The Business Value of Social Media Presentation Transcript

    • The Business Value of Social Networking October 27, 2009 Presented by: Chris Coldewey, Ian Cruickshank, Marie Foxall, Nikhil Jagtiani, Sharlene Myers, and Jason Robertson 1
    • 2
    • what the bleep? (Source: wikipedia.org) 3
    • what the bleep? • Social media are media designed to be disseminated through social interaction, created using highly accessible and scalable publishing techniques. Social media supports the human need for social interaction, using Internet- and web-based technologies to transform broadcast media monologues (one to many) into social media dialogues (many to many). It supports the democratization of knowledge and information, transforming people from content consumers into content producers. Businesses also refer to social media as user-generated content (UGC) orconsumer-generated media (CGM). (Source: wikipedia.org) 3
    • what the bleep? •Social media supports the human • Social media are media interaction, using need for social designed to be disseminated through social interaction, created using highly accessible and scalable and web-based Internet- publishing techniques. Social media supports the human need for social interaction, using Internettechnologies to transform and web-based technologies to transform broadcast media monologues (one to many) into social media broadcast media monologues (one dialogues (many to many). It supports the democratization of knowledge and information, to many) people from content consumers into content transforming into social media producers. Businesses also refer to social media as usergenerated content (UGC) orconsumer-generated dialogues (many to many). media (CGM). (Source: wikipedia.org) 3
    • 4
    • Agenda • What’s changed • Tools • Current uses • What’s the ROI • Who’s responsible • What are the risks 5
    • Agenda • What’s changed • Tools • Current uses • What’s the ROI • Who’s responsible • What are the risks 5
    • The shift From Portals to Communities 6
    • The shift From Portals to Communities 6
    • So what are people doing online? Sent or received email 99% Used a search engine 96% Visited news or information websites 88% Comparison shopped 84% Visited a newspaper website 82% Conducted online banking 77% Visited a magazine website 67% Used Ig to chat with friends or family 65% Listened Internet to radio stations 59% Visited a blog 58% Visited/browsed online social networks Played games online against strangers Played games online against friends 44% 38% 34% (Source: Q4-2008 The Ipsos Canadian Inter@ctive Reid Report, Canadians Internet users (n=2,520)) 7
    • So what are people doing online? Sent or received email 99% Used a search engine 96% Visited a blog Comparison shopped Visited news or information websites 88% 84% 58% Visited a newspaper website 82% Conducted online banking 77% Visited a magazine website 67% Used Ig to chat with friends or family 65% Listened Internet to radio stations 59% Visited a blog 58% Visited/browsed online social networks Played games online against strangers Played games online against friends 44% 38% 34% (Source: Q4-2008 The Ipsos Canadian Inter@ctive Reid Report, Canadians Internet users (n=2,520)) 7
    • So what are people doing online? Sent or received email 99% Used a search engine 96% Visited a blog Comparison shopped Visited news or information websites 88% 84% 58% Visited a newspaper website 82% Conducted online banking 77% Visited a magazine website 67% Visited/browsed online Listened Internet to radio stations Visited blog sociala networks Used Ig to chat with friends or family 44% Visited/browsed online social networks Played games online against strangers Played games online against friends 65% 59% 58% 44% 38% 34% (Source: Q4-2008 The Ipsos Canadian Inter@ctive Reid Report, Canadians Internet users (n=2,520)) 7
    • What are they doing in social media? Use the Internet to contact someone you have lost touch with 51% Participate in live, online chat over the Internet 46% Visit/browse an online social network or online community 44% Take part in computer games with other people online 32% Download/browse videos from a video sharing network or online community 32% Participate in an online forum or bulletin board discussion 31% Use an online personals/dating/ introduction service Upload videos to a video sharing network or online community None of the above 17% 12% 19% (Source: Q1-2009 The Ipsos Canadian Inter@ctive Reid Report, Canadian Internet users (n=824)) 8
    • What are they doing in social media? Use the Internet to contact someone you have lost touch with 51% Participate in live, online chat over the Internet 46% Visit/browse an online social network or online community In Q4’08 - 5.4 hours/week spent on social networking sites – about 1/3 of all online time – 44% Take part in computer games with other people online 32% Download/browse videos from a video sharing network or online community 32% Participate in an online forum or bulletin board discussion 31% Use an online personals/dating/ introduction service Upload videos to a video sharing network or online community None of the above 17% 12% 19% (Source: Q1-2009 The Ipsos Canadian Inter@ctive Reid Report, Canadian Internet users (n=824)) 8
    • ...and what sites are people using? 0 Facebook Myspace Twitter Classmates MyLife Windows Live Profile Buzznet Bebo Digg Yahoo! Buzz Linkedin DeviantART Tagged hi5 Gaia Online 20000 40000 60000 80000 (000) (Source: May 2009, eMarketer) 9
    • ...and what sites are people using? 0 Facebook Myspace Twitter Classmates MyLife Windows Live Profile Buzznet Bebo Digg Yahoo! Buzz Linkedin DeviantART Tagged hi5 Gaia Online 20000 40000 LinkedIn 60000 80000 90% (000) (Source: May 2009, eMarketer) 9
    • ...and what sites are people using? 0 Facebook Myspace Twitter Classmates MyLife Windows Live Profile Buzznet Bebo Digg Yahoo! Buzz Linkedin DeviantART Tagged hi5 Gaia Online 20000 40000 LinkedIn 60000 80000 90% Facebook 97% (000) (Source: May 2009, eMarketer) 9
    • ...and what sites are people using? 0 Facebook Myspace Twitter Classmates MyLife Windows Live Profile Buzznet Bebo Digg Yahoo! Buzz Linkedin DeviantART Tagged hi5 Gaia Online 20000 40000 LinkedIn 60000 80000 90% Facebook 97% (000) Twitter 2,681% (Source: May 2009, eMarketer) 9
    • Top misconceptions 10
    • Top misconceptions • Social media is only right for certain brands 10
    • Top misconceptions • Social media is only right for certain brands 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly • “By using social media we will lose control of our brand’s image” 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly • “By using social media we will lose control of our brand’s image” 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly • “By using social media we will lose control of our brand’s image” • “I don’t need a professional to do social media for me” 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly • “By using social media we will lose control of our brand’s image” • “I don’t need a professional to do social media for me” 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly • “By using social media we will lose control of our brand’s image” • “I don’t need a professional to do social media for me” • Social media is just a fad 10
    • Top misconceptions • Social media is only right for certain brands • Social media is all about getting traffic — and quickly • “By using social media we will lose control of our brand’s image” • “I don’t need a professional to do social media for me” • Social media is just a fad 10
    • Social Media Tools • Engaging with your customers • ...where they are • ...where you are • Internal use 11
    • Engaging with your customers...where they are Broad social network platforms Niche social network platforms 12
    • Engaging with your customers...where they are Realtime, direct communication Engaging with each other ...about you 13
    • Engaging with your customers...where you are Blogs, videos, sites, products 14
    • Internal Communication Knowledge Management Project Management Recruitment 15
    • How is Social Media being used? 16
    • Marketing & Metrics Using trackable links allows the company to measure the effectiveness of the message. Establishing metrics related to sales leads to a better analysis of social media’s potential ROI. 17
    • Marketing & Metrics 18
    • Marketing & Metrics 19
    • Research & Analysis Reporters assess consumer interest in news topics based on social media response. 20
    • Troubleshooting 21
    • Measuring Success • “Social software in business” survey - 86% of professionals using social media for business • 57% for marketing • 39% for internal collaboration and learning • 29% for customer support - 84% not measuring the ROI (Source: eMarketer.com) 22
    • Measuring Success: Dell • @DellOutlet has been using Twitter to post offers and answer questions since 2007 • Now has 1.3 million Twitter followers (Oct 2009) • Total: $3 million in revenue directly attributed to Twitter activity (June 2009) - $2 million direct Dell Outlet sales - $1 million other Dell sales (Source: Direct2Dell) 23
    • Measuring Success: Salesforce.com • Launched Idea Exchange in 2006 to collect and prioritize product development ideas from customers - Allows customers to post ideas they’d like implemented in the next software update - Community votes on the ideas, helping set priorities • 5,000 ideas received in first year, customer votes helped establish which would be most valued • Salesforce put out four new releases in 2007 (vs. two in 2006), with twice as many new features per release • Half of new features come from Idea Exchange (Source: Li, Charlene and Bernoff, Josh. Groundswell: Winning in a World Transformed by Social Technologies) 24
    • Measuring Success • The key to measuring success is knowing what success looks like for you - Who do you want to reach? - What do you want them to do? - What’s the best way to get them to take action? How can you measure it? • • Think about measurement from the beginning and build it in 25
    • So, whose responsibility is Social Media? • Here’s some common responses • The Public Relations Departments’! • Social Media is the responsibility of those who champion it. • Social Media naturally belongs to HR and Training • This Social Media thing is quite complex so specialists will emerge with their own box on the Organization chart • Social Media cannot be controlled, so nobody will own it, there will be no specialists, everybody will just use it! (Source:http://www.smallbusinessnewz.com/blogtalk/2008/08/05/where-does-social-media-responsibility-fall) 26
    • Findings from the Digital Readiness Report 2009 278 public relations, marketing and human resource professionals in US– based organizations of varying types and sizes were surveyed to identify trends regarding their approach to social media Eric Schwartzman Tom Smith Don Spetner Barbara McDonald 27
    • So far, Public Relations is leading the Social Media Revolution inside organizations of all types and sizes. (Source: http://www.ipressroom.com/pr/corporate/social-media-communications-skills-survey.aspx) 28
    • Meet some interesting ‘Others’ • Director of Internal Audit • General Manager for Online Communities • A former Barista • Community Animator (Source : http://mashable.com/2009/01/21/best-twitter-brands/) 29
    • Meet some interesting ‘Others’ • Director of Internal Audit The Starbucks account is for • General Manager Online Communities followed by 421,799 people! • A former Barista • Community Animator (Source : http://mashable.com/2009/01/21/best-twitter-brands/) 29
    • Are we ready for Social Media: Act II? • The need for business specific metrics • How far can Marketing take this? • A culture of Human Business - Through the doors of Corporate HR and the CEO’s office (Source : http://brandsavant.com/208/whats-wrong-with-social-media-marketing-strategy/) 30
    • The Risks of Social Media • Branding issues • House of Brands vs. Branded House • One-way to two-way communication • Speed of communication (Source : eMarketer.com) 31
    • Pepsi: “AMP Up Before you Score” iPhone App 32
    • Pepsi: “AMP Up Before you Score” iPhone App “Our app tried 2 show the humorous lengths guys go 2 pick up women. We apologize if it's in bad taste & appreciate your feedback.” (Source : http://www.msnbc.msn.com/id/33310411/ns/technology_and_science-tech_and_gadgets/) 33
    • Honda: Crosstour CUV 34
    • Honda: Crosstour CUV 34
    • Electronic Arts: Sin-toWin Contest 35
    • Electronic Arts: Sin-toWin Contest 35
    • Electronic Arts: Sin-toWin Contest 35
    • Electronic Arts: Sin-toWin Contest 36
    • The Risks of Social Media 37
    • The Risks of Social Media “There is no such thing as bad publicity...” 37
    • The Risks of Social Media “There is no such thing as bad publicity...” “...except your own obituary.” - Brendan Behan (1923-1964) 37
    • Conclusion • The conversation is happening • Start listening now • Begin the conversation at your organization about how to engage in a way that is right for you 38
    • Questions? 39