Market Knowledge: Competitors, Suppliers, Buyers, Influencers; Google insight, Google Alerts will provide a view on most companies within an industry. Also, there are a range of blogs and networks where amateurs and professionals will share their knowledge of a market. Customer Insight and Understanding: Listening to customers and prospects through the range of channels they inhabit; comments on YouTube, Networks where they ‘hang out’ Customer Interaction: the tools exist to not only listen and observe but also to discuss and converseBusiness Intelligence: media monitoring, alerts and related analysis tools provide a great source of structured Business Intelligence. You need not pay £600/month for the privilege, SocialMention and Google Alerts can keep you informed where you need to be. Reputation Management: one of the key aspects of web 2.0 is that it is Real Time. You can see and respond to comments as they arise and often, where the response is efficient and effective, create a positive effect. Consider, the Ethiopian Growers that challenged the coffee used by Starbucks in a video posted on YouTube. This video was viewed by 10,000 people. The CEO posted a response within 24 hours on YouTube, the response was viewed by several million.
We believe there is a strong correlation between positive word of mouth, online buzz and sales and marketing. Needless to say there are now numerous means of getting your message out there, growing followers (through sites like Twitter, and energising your customer base). Web 2.0 is immediate and direct. The example I like to use is of a safety harness company based in Edinburgh who considered using a traditional approach to International Sales and Marketing – find an agent, find prospects, etc. An alternative approach we suggested, used LinkedIn to find the Health And Safety Director of the largest Construction Project in the world. Now it is not a leap to suggest filming the harness on YouTube and sending an email with a link saying you are in Saudi Arabia and would he like to meet up. Numerous examples of customer insight and feedback leading to product improvement. Many car companies use Second Life to test their designs. A site called eBags sends out the latest designs to their top raters on the site. Internal cost savings. No 10 Downing Street example…Improved Operations and internal processes. There are applications for literally anything – wikis that compete with licenced intranets, email freeware that is better than Outlook, hosted network sites for £20/month that would cost £thousands to replicate. Increased Return on Investment. The holy grail or the achiles heal of Web 2.0. How do you make money from this thing…there is a growing level of evidence to suggest that it works.
Social Media for Career Development University of Edinburgh Business School Dr. Jim Hamill Alan Stevenson Vincent Hamill www.energise2-0.com 5th October, 2011
Social Media and Business Schools Social media is having a major impact on: Business School marketing/promotion/student recruitment Programme content – increasing demand for social media skills Programme delivery – enrich the student learning experience Programme assessment Career development Alumni relationships
SM Skills a Must for MBAs 85% of potential MBA students used social media to research their top choice of school 14% disappointed with School’s use of SM at the recruitment stage and 63% wanted more For current students, 55% stated that social media course options were either not available or were ‘not up to par’ with employer demands 99% stated that social media was ‘mission critical’ Leading Schools are beginning to offer social media programmes including Harvard, Stanford, Columbia and Stern
Today’s Agenda Session 1 Overview of Social Media The ‘Key Things to Remember’ Social Media in Action: Case Examples ‘Social Media Planning Pays’ Session 2 Social Media and Career Development – practical advice on how to use social media to develop your own career Need for new innovative approaches in a crowded graduate recruitment market ‘Be Social’!
Web 2.0/Social Media Web 2.0 Applications Open source Online Applications/ Web Services Social Network Sites Social Content – Social Bookmarking Blogs or Weblogs Wikis Podcasts/ Vodcasts Virtual Realities Mash Ups RSS Feeds Mobile Web; Internet Telephony Twitter Business Impact Mindset Business Intelligence Customer Insight and Understanding Customer Interaction Enhanced Customer Experience – Rich Internet Applications Reputation Management Sales and Marketing Product Development and R&D e.g. engage and co-create IT/Software/Applications Operations, Internal Processes and HRM Characteristics Communities and Networks Openness Sharing Peering Hosted Services – online applications; the Internet as the platform Interactivity Social Element Mass Collaboration Empowerment Global
Key Things to Remember It’s social A key feature is online democracy – with content being provided by the network for the network – represents a fundamental and revolutionary change in online behaviour, expectations and the online customer experience. The end of the ‘read only’ internet Conversations are already taking place relevant to your company/organisation. Are you listening? Power shift Social media empowers customers, empowers the network. Recognizing this shift is the cornerstone of future success Declining effectiveness of traditional approaches Does anyone listen any more?
Do You Listen? Source: The Future of Advertising, APA, 17/02/09 as published on Slideshare (www.slideshare.com)
What is Social Media? NOT a broadcast medium. Its about listening to and engaging with customers, partners, your community, your tribe This is something we are not very good at doing. We prefer telling people how good we are
Key Things to Remember Pull v push Consumers/users decide what information they wish to access New ‘mindsets’ are required Marketing as a conversation with your customers/network– dialogue not broadcasting But this is something that most of us are not very good at doing. We prefer ‘telling’ people SM ‘winners’ and ‘losers’ ‘Winners’ will be those organisations who fully utilise the interactive power of Web 2.0 technology for engaging with and energising customer and network relationships
Key Things to Remember New performance measures Business success depends on the quality of your customer base; the strength of the relationship you have with quality customers; and your ability to leverage that relationship In a social media era, business success depends on the Quality of your network Relationship strength Ability to leverage Social media monitoring/performance management tools The need for new business/marketing models
Key Things to Remember The need for new business/marketing models Traditional approach: Product development – Differentiate – Market and Promote - Sell New model based on: Communities, networks, openness, peering, sharing, collaboration, customer empowerment, ‘think and act’ globally Engage and energise ‘Create the Buzz’
Business Benefits Market Knowledge Customer Insight and Understanding Customer Interaction Enhanced Customer Experience Business Intelligence Reputation Management
Business Benefits Improved Sales and Marketing Identify and network with high value, high growth prospects Product Development and R&D e.g. engage and co-create Internal cost savings Improved Operations and Internal Processes Increased ROI
Potential Business Benefits 5 main areas: Market/Customer Knowledge & Insight Engagement & Reputation Management Enhanced Customer Experience and Loyalty Sales/Marketing Effectiveness, Efficiency and ROI Operations/ Internal Processes (open source and hosted apps)
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Key Questions to Address Do you need to engage with Social Media? What progress has been made benchmarked against industry ‘best practice’, the potential of social media for your business and, more importantly, against the growing expectations of customers? What are the key objectives and targets to be achieved from social media? Are these fully aligned with and supportive of your overall business goals and objectives? Who are your customers? Where do you find them ‘hanging out’ on social media? How can you best engage with them?
Key Questions to Address What are the main Social Media Actions and Initiatives you need to take – short, medium and longer term? What generic social media strategy should you follow (number of channels used/ depth of engagement in each channel)? For each priority Social Media Channel, what are your core objectives for that channel; what KPIs will be used for measuring on-going channel performance; what are your targets for each KPI; what key tasks are needed to achieve these targets?
Key Questions to Address Do we have the right organisational ‘culture’ and ‘mindset’ for Social Media? ‘Be social before doing social! Is the right organisational and decision-making structure in place? Has agreement been reached on resource allocation? Who will be responsible for your social media activities? What balance has been agreed between internal and external roles and responsibilities? Who is the Social Media Champion? Do you have agreed Social Media Policies and Guidelines in place covering ‘Proper Use’, ‘Content Management’, ‘Customer Response Times/Quality’ and ‘Legal’ aspects?
Bob Dylan Come gather 'round people Wherever you roam And don’t criticise What you can't understand Your sons and your daughters Are beyond your command Your old road is Rapidly agin‘ Then you better start swimmin’ Or you'll sink like a stone For the times they are a-changin’
SM for Career Development Effective use of Social Media is becoming ‘mission critical’ to your career development:
Employers are increasingly using SM in recruitment
Brand differentiation – innovative use of SM will help you stand out from the crowd
A new approach to recruitment/career development based on relationships and networking
Improves the effectiveness and efficiency of your efforts through ‘attraction based’ marketing v. the traditional approach to applying for jobs
Traditional Approach Develop a resume/CV and covering letter Search/find vacancies Submit CV/covering letter for available job or ‘on spec’ Wait for the phone call/email that never comes because the job market is becoming increasingly competitive Same as above but go through an agency/online job site
How Businesses Use Social Media for Recruitinghttp://mashable.com/2011/08/28/social-media-recruiting-infographic
A New Approach Built Around Your Online Brand Identity/Digital Footprint
Suggested Approach Use Social Media to: Search/listen/keep an ear to the ground Build your personal brand, differentiate, stand out from the crowd Identify, join, lurk, participate in relevant forums, groups etc Actively engage/network – build relationships Leverage ‘attraction’ based marketing Monitor performance and ‘buzz’
Monitoring the Conversations Use Social Media Monitoring Tools to monitor the online conversations relevant to your career development – also for measuring the ‘buzz’ about your personal brand (later) No or low cost tools such as Google Alerts, Yahoo Pipes, Social Mention, Topsy, IceRocket, Blogscope, Blogpulse and ViralHeat More expensive and sophisticated tools such as Radian6, Alterian SM2, Sysomos Heartbeat and InfegySocialRadar
Build your Personal Brand, Differentiate, Stand Out from the Crowd
Main Channels Personal blog for ‘telling your story’ Twitter for conversations Linkedin for professional networking Facebook for personal stuff (but be careful, very careful) Google + - the ‘new kid on the block’ Develop a Youtube Channel including your own video e.g. course presentation Your resume/CV as an Infographic
Follow Best Practice Add value Don’t SHOUT Talk WITH rather than AT Listen first Don’t be a show off Don’t get angry or respond in an aggressive way Be careful of your ‘digital footprint’ Don’t spam or over post Don’t underestimate the power of the network Hang out in the right places with the right people
Attraction Based Marketing Don’t rely on the traditional approach to finding a job Build a powerful personal brand and online network to attract job opportunities directly to your ‘inbox’ Become a content producer NOT a passive content consumer Highlight your expertise and passion No longer an option – recruiters now expect you to have a strong social media presence
Monitor Performance and ‘Buzz’ Various tools are available