Intro to Social Media - for Accounts (the real thing)

Introduction to Social Media
aka Kipling’s Six Friends
Justin Souter

What?
nolifebeforecoffee
29/09/2009
2

How to sell Social Media to B2B executives
social media = contemporary web strategy
social networking = online forum
blogging = regularly updated website
microblogging = active listening
Twitter = next phase of online engagement
social bookmarking = shared favourites
LinkedIn = LinkedIn
social media newsroom = interactive information centre
29/09/2009
3

What is it?
Also
Ratings & Reviews
Document & presentation sharing
N.b. importance of using tools together
Yes, so what is it?
Technology
Social Movement
Mindset
Computer-mediated world
Web 2.0 – users created their own content
“This is about determining a future online customer communications strategy”
Chief Executive I was talking with recently
“If I have seen a little further it is by standing on the shoulders of Giants.” - Isaac Newton (i.e. under-lined links)
29/09/2009
4

Overwhelming amount of tools :’(
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5

Common tools [TO BE ONES FOR BUSINESS?]
Blog
easy-to-use publishing platform, sorted by date
Social Network
online site with various collaboration tools
Twitter
like text messaging, but actually powerful messaging hub – real time communications
Forums
Online discussions
Customer service
Social bookmarking
Photo & video sharing
Music
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6

Stats – give you an idea of the trends
Blogs
96.6 million US Internet users read a blog at least once per month, representing 48.5% of the Internet population.
By 2013, 128.2 million people, or 58% of all US users, will take part.
Facebook
> 300 million active users
Fastest growing demographic is >= 35
Twitter
Film star Ashton Kutcher has 3,669,148 ‘followers’
Jack Welch has 880k, Davos has 1.2m
Projected to have 18m users projected for end 2009
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7

Why?
bitzcelt
29/09/2009
8

Value of Social Media according to US Executives, July 09 – emarketer.com
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Reasons that US Executives use Social Media, July 09
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10
emarketer.com

Reasons that US Executives do not use Social Media, July 09
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11
emarketer.com

Measurable gains from ‘Web 2.0’ - McKinsey
29/09/2009
12

Why does it matter?
It's the idiom of our Youth
Interactive vs. Broadcast
You've got a Website
Now you need a Web Presence
"Open the Kimono" at the pace *you* choose
Embrace the Now; the Future is already here
Influence, because it's happening already
Get closer to the Customer in this age when they’ve already Googled you before you speak / they come into the shop etc.
29/09/2009
13

Social Media effectiveness - Twitter
Representatives from Dell said, at a Twitter for Brands event hosted by New Media Age in London on Friday, that it has seen tangible uplifts in sales which can be directly attributed to marketing on Twitter.
The brand’s Twitter account has driven $3 million in sales since it began operation in 2007, Dell said.
@DellOutlet is in the top 100 Twitter accounts (over one million followers, increasing ~6K per day)
29/09/2009
14

Social Media effectiveness -
Rozmic – 1 tweet led to 60 sign-ups for new service (60 x £8.50/mth)
Your business & your Customers’ businesses
Business to Business
Business to Consumer
McKinsey Quarterly vs. a set of blogs
Part of a wider trend
From Push to Pull
Motor industry example
Social Capital
Creating the right environment for buying / choosing your firm
Create relationships online
Become a Social Capitalist!
29/09/2009
15

What can it be used for?
Recruitment
Ernst & Young careers Facebook group
Marketing
West Midlands Police
Recruitment / ‘plodcasts’
PC TV; YouTube, Twitter, Facebook
Focus group
GM’s Fast Lane blog
“we are gaining insight about how to optimize not only our communications, but the brand itself.” Ruder Finn PR
Collaboration
RMT extranet
Reuters example at Fujitsu
29/09/2009
16

What can it be used for? (2)
Customer support
Dell Hell & turnaround
Early warning
Domino's example
PR
Ford & The Ranger Station
Social Media news release
Social Media news room
29/09/2009
17

Business to Business Scenarios
According to Dan Sears, you might consider the following:
Listen and monitor the online conversation
Gather product requirements and feedback
Alert customers of new product features, upcoming events
Introduce products to prospects
Develop advocates and Industry influencers
Reposition products and brands
Share information during tradeshows and events
Align and connect communities of interest and practice
Generate awareness and exposure (press release)
Social Media in a B2B contextblog post
29/09/2009
18

B2B Examples
ArcelorMittal
To help achieve successful merger
Videos & blogs
Scania: Social Media News Room
Present SM content in one place
American Express
social media forum / social network connects with small business owners
Pitney Bowes
uses forums for B2B customer service
Thanks to Social Media B2B
29/09/2009
19

Case Study – Social Media disaster
Original ad
http://www.youtube.com/v/BmykFKjNpdY
Spoof
http://www.youtube.com/v/TpqpAGLS2t4
Props to Neville Hobson:
http://www.nevillehobson.com/2008/11/18/the-motrin-storm-breathtaking-speed-and-scale/

Motrin: Twitter
29/09/2009
21

Downsides
Motrin (as we’ve seen)
Dell Hell – turnaround to @DellOutlet & $3m sales
Copyright issues – sharing gets abused
Phishing / spam / identity theft
Time wasting
Time consuming
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When?
sea turtle
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23
sea turtle

When?
"As I've said many times, the future is already here. It's just not very evenly distributed.“ - William Gibson
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24

How?
kevindooley
29/09/2009
25

The four-step approach to the groundswell
P
O
S
T
PeopleAssess your customers’ social activities
Objectives Decide what you want to accomplish
StrategyPlan for how relationships with customers will change
TechnologyDecide which social technologies to use

Listening
Talking
Energizing
Supporting
Embracing
Groundswell objectives
Roles
Research
Marketing
Sales
Support
Development
Key roles and their groundswell objectives

groundswell.forrester.com

What to do – practical steps
Put together business case & get sign off?
Form team of interested parties & subject matter experts
POST exercise
Divvy out tasks & responsibilities
Measure before & after
Set up blog, twitter, photo, & video tools
Integrate with website
Follow other people, comment on blogs, create interactions
Start slow, experiment, fail fast, learn quickly
Consider phased approach
Manage the Change internally
Keep stakeholders informed & happy
Think long-term & keep at it
Hire a social media specialist!
29/09/2009
29

What to do - strategy
It’s unlikely to be you doing this, so find someone who is doing it already
Get someone in your team to read Groundswell
POST approach
5 ways of using social media
Demographics
Tech
Depends on existing infrastructure
Often, exploit what you already have
Combine
Tools are most powerful when used together
29/09/2009
30

Social Media Panel Outlines Tips for Accountants
Protect your name
Establish goals & revisit them often
Commit
Find fans & potential employees
Consider multiple personalities
Act professional
Highlight area expertise
Ask questions
Don’t abandon face time
http://www.journalofaccountancy.com/Web/20091830.htm
29/09/2009
31

Social Media & QuickBooks
Do Social Media Users Benefit?
By answering each other's questions
Influence the development and design of products they us
Power users can build reputation
Accountants can gain access to prospects in the social media community
Users can network
Link
Other platforms used
LinkedIn and Facebook to bring together QuickBooks experts
Other Intuit community websites
Meetup – find a QB consultant nearby
Also, blogs, wikis (to create a Tax Almanac), YouTube to showcase new release, Twitter, even Second Life!
29/09/2009
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29/09/2009
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10 ways to measure social media success
Traffic
Interaction
Sales
Leads
Search marketing
Brand metrics
PR
Customer engagement
Retention
Profits
Props to Econsultancy
29/09/2009
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Social Media Measurement
Here's a framework for measuring social media:
Attention
Participation
Authority
Influence
Sentiment
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35

Where? and Who?
sighmon
29/09/2009
36

Walt Jabsco
29/09/2009
37

Where?
Context
Internal
External
Stakeholders
Online and offline
“Top 2 inches”
Size matters
Large firm
Got the resources
Small / micro firm
Punch above your weight
Medium?
Dip your toe
Medium / small
Do you really have time?

Who?
Leadership sets the tone and example
Front line delivers
Management monitors, encourages, reports upwards

Accountants who use Social Media
Dennis Howlett - @dahowlett
Mark Lee - @bookmarklee
Philip Woodgate - @philipwoodgate
Richard Murphy - @richardjmurphy
Glen Feechan - @glenfeechan
AT Accounting - @ataccounting
Stephen Slater - @cyberaccountant
Phil Richards - @bfcauk & @philrichards
Toni Hunter
@ToniHunter
The accountants’ guide to Twitter
Brought to you by:
Emily Coltman - @Ask_M
29/09/2009
40

And finally…
Sister72
29/09/2009
41

Phil Richards
“If you come from the "intention" just to get business, then its more difficult to take part ( IMHO ), if you come from the intention of sharing, helping, community etc.. then whilst business does come, its not the primary intention, and getting involved has more meaning.”
29/09/2009
42

Why accountants should blog
Sharing what you know through a blog shows you care and provides the enabling medium that provides the context for collaboration among other professionals.
As the world becomes more specialised, I see collaboration as an increasingly important part of the professional landscape.
Gain a reputation for sharing knowledge and like minded people WILL come to your door.
The biggest benefit though comes through your ability to show your human-ness.
People deal with people and if they see authenticity expressed through your blog efforts then they are far more likely to identify with you as a person.
Given the professional reputation for being stuffy, that can't be a bad thing.
Agree? Dennis Howlett
29/09/2009
43

Again, Dennis Howlett
[…] think more about communications, internally at first and how sharing information might better serve the practice.
Professionals should be looking for ways to better collaborate both internally and among their communities. We’re starting to see that at ion.
And it’s not about using these tools as direct marketing tools or gimmicks but about the indirect effects that arise out of your efforts at supporting those around you through the stories you tell. [my italics]
29/09/2009
44

Military of Millennials article - Conclusion
“Most generations have a way of challenging their elders’ fundamental assumptions and ways of doing things.”
“Gen Y is poised to do the same — and in potentially constructive and original ways.”
“The job of today’s captains, majors, and colonels is to encourage and guide millennials and protect them from the senior officers who may not appreciate their unique qualities.”[!]
29/09/2009
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Sister72
Call to action
29/09/2009
46

Please sponsor me!
Action for Children
“tackle the root causes of youth homelessness
gets thousands of children and young people off the streets
into secure accommodation with education and training opportunities”
Byte Night
Sleep out of doors – tonight!
Go to http://justgiving.com & search for Justin Souter
Would love to get to £750
29/09/2009
47

Souter Consulting Limited
What can I do for you?
Please contact me to see how we can work together!
Justin Souter
http://souterconsulting.eu
Justin.souter@souterconsulting.eu
07717 725504
29/09/2009
48

Intro to Social Media - for Accounts (the real thing)

by Justin Souter on Oct 06, 2009

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Intro to Social Media - for Accounts (the real thing) — Presentation Transcript

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