Gordon Gekko is Dead
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Gordon Gekko is Dead

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Presentation delivered on 23 October 2009 at Social Media in Business, London.

Presentation delivered on 23 October 2009 at Social Media in Business, London.

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  • Slick corporate messaging and PR developed in priority from the 1950s to the 1990s, so that perception about brands became more important than the quality of the product. When the reality of a product experience failed to live up to messaging for the product, trust in corporate messagtes declined.

Gordon Gekko is Dead Gordon Gekko is Dead Presentation Transcript

  • Gordon Gekko Is Dead: How Competitive Advantage is Shifting in the Social Media Age. Joanne Jacobs Social Media Expert Consultant Email: [email_address] Twitter: @joannejacobs Skype: bgbsjj
  • Scope
    • How social media affects business
    • Why social media is crucial to competitive advantage
    • What traditional business practices need to be 'unlearned'
    • Where to from here?
  • Gordon Gekko: 'Greed is Good' http://www.youtube.com/watch?v=7upG01-XWbY
  • Greed is Dead
    • Greed caused the current recession
    • Drive for higher profits can lead to poorer quality goods
    • Public relations and marketing disciplines grew from a need to manage customer service
    • Harder to deliver authenticity of customer service with poor quality goods
  • Competitive Advantage
    • Competitive advantage: Porter's 3 generic strategies:
      • Cost Advantage
      • Differentiation Advantage
      • Focus (niche)
    • All can be affected by greater access to information about products
    • Rise of comparison websites and user-generated responses has resulted in an increasing focus on value creation rather than cost, product or market differentiation
  • Value of Corporate Messages
    • Brand perception versus product quality
    • Product quality versus reality in product consumption
    • Until the 1990s communication power vested in media
    • Rise of the internet diluted media power
    • Rise of social media inversely proportional to perceived value of corporate messages
  • Social Media & Business Case Studies
    • Case studies: Negative impact
      • Habitat : twitter idiocy
      • Honda : fake endorsements on Facebook
      • Reverb PR : Apple AppStore endorsements
    • Case studies: Positive impact
      • Dell : Twitter (See also RWW )
      • H&R Block (Tax agents): Facebook
      • HSBC Business Network : private network
  • Where to from here?
    • Ask yourself: WHY use social media?
    • REMEMBER social media doesn't make money; it saves money
    • MEASURE what you set out to achieve, not visits, hits, followers or fans
    • COMPETE on value creation, not cost or product differentiation
  • Further reading
    • Superlist of Social Media Case Studies
    • Now is Gone Case Studies
    • HubSpot's 6 Social Media Marketing Lessons
    • Socialmedia.org's video case studies
    • .... and contact a genuine expert for tailored advice.
    • (Genuine experts have 10 years or more experience in the tech sector.)
  • Questions?
    • Joanne Jacobs
    • Social Media Expert Consultant
    • Email: [email_address]
    • Blog: http://joannejacobs.net/
    • Phone: (+44) 07948 318 298
    • Twitter: @joannejacobs
    • SkypeIn: (+44) 0208 144 9348
  • Image credits
    • Slide 1: http://stochastix.files.wordpress.com/2007/05/gekko-fortune.jpg
    • Slide 2: http://emersondirect.files.wordpress.com/2009/04/social-networks.jpg
    • Slide 3: http://cedricmnich.files.wordpress.com/2007/11/gordongecko.gif
    • Slide 4: http://www.e-bux.co.uk/images/800px-UK_Pounds_Sterling_3000_in_twenties.JPG
    • Slide 6: http://tylersclark.com/blog/uploads/2009/07/billboard.jpg
    • Slide 7
    • Slide 8: http://paradelle.files.wordpress.com/2009/07/compass.jpg