Pace of Change The pace of change in information and supporting technologies today -- across industries and geographies -- is nothing short of an industrial revolution.
New generation learning new behaviors. Information available anytime, anywhere. Expectations of immediacy.
ABC says sales at their lowest rate since the 40s... but more people actually read the news. Ad sales down around 30 percent year over year, forcing cycle of changes.
Over 100 banks have failed this year, yet innovation still occurs -- USAA Federal Savings Banks allows remote deposits... by iPhone.
Removal of middlemen requires businesses to be nimble & technical // Customers favor openness New costs of business / real & imagined; Information increases competition. New biz models must occur.
Part of the new direct connections -- social media. &#x201C;Social media are primarily Internet- and mobile-based tools for sharing and discussing information among human beings...&#x201D; - Wikipedia I&#x2019;ve found additional qualifiers &#x2022; Can be product or feature &#x2022; Anonymous vs. Verifiable &#x2022; General and/or Targeted &#x2022; Business and/or Consumer &#x2022; Typically &#x201C;unicast&#x201D; vs. &#x201C;broadcast&#x201D;
Same thing that&#x2019;s offline. Online Communities are People Social and online media best practices are built on familiar offline principles of basic human interactions. Making Interactions Trustworthy
Different information & presentation &#x2022; Known Associations &#x2022; Context understood &#x2022; Appears more credible (trust?) &#x2022; Contact information available
&#x201C;Fish where the fish are...&#x201D; first.
Get your own personal accounts. Get test accounts. Connect with each other in this room. All successful on- or off-line conversations should be: &#x2022; Authentic &#x2022; Verifiable &#x2022; Relevant. Facebook is a great place to learn this.
Find communities with like interests... you&#x2019;ll be more interested, and see why the technology helps communities. Plus, you&#x2019;ll learn.
Success for Today&#x2019;s Discussion &#x2022; Each person/company must define success &#x2022; Influence (one measure) &#x2022; Can you shape the thinking of your customers / fans / audience? &#x2022; Engagement (one measure) &#x2022; Can you be a &#x201C;real&#x201D; person? (accountability) &#x2022; Are you increasing customer interaction(s)? Sales? Etc.?
Canon, Nikon. Skittles.
Instant feedback. Timely deals. Direct communication.
FedEx/Memphis & Ketchum &#x2022; PR rep on way to FedEx visit &#x2022; Updates Twitter with Memphis remark &#x2022; FedEx finds, takes offense to update &#x2022; Irony: PR rep to discuss social media &#x2022; Lessons: 1) It&#x2019;s easy to listen/be heard & 2) Professional / Personal AdAge&#x2019;s Marketer of the Year LASIK &#x2022; Our dev manager updated status &#x2022; Included LASIK &#x2022; Replies back from unconnected people &#x2022; Lesson: Mine data for your use, add value MotrinMoms Dell Blog
Social Media for Business
Media and Business
Tip: Stats a Good
• Facebook has over 250 million users
with an average of 120 friends/user.
• YouTube users upload 20 hours’ worth
of video every minute.
• Twitter grew by 8 million users in Sept.
Tip: Deﬁne Success as
you Transition to Biz
• Is it saving money on customer
• Is it easier newsletters?
• Is it marketing more efficiently?
• Very few making proﬁt off social
media, but it’s not only about