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Social Media's Role in Business Research

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The use of social media by business professionals is growing rapidly. As a result, social media content can benefit more than just public relations professionals. Learn how you can take advantage of …

The use of social media by business professionals is growing rapidly. As a result, social media content can benefit more than just public relations professionals. Learn how you can take advantage of social media while doing business research and competitive intelligence for your enterprise.

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  • People’s network have become incredibly influential in digital behavior
    Not a surprise, at least 1 in 3 searches fail (probably generous)
    Of course many of these sites deliver a browsing experience, general interest info
    However, more and more people are turning to their network for discovery, as well as navigation
    Social Search grows
  • But it was too hard to make yourself heard
    You had to be a techie and know HTML
    Or you had to use message boards or chat rooms, which had bad reputations (and you never knew which ones your friends may or may not be using)
    Web 1.0 gave everyone the opportunity
  • New tools made it easy to participate
  • Social Media tools being adapted for business use
  • Barrier to entry, lower costs mean small business (under 100 employees) rapidly adopting social media as their communication platform with their customers
    The concept of social CRM is emerging, Twitter/Facebook can actually give small business the ability work with their customer’s
  • Lower cost of entry, more social tools making it even easier to use

    3 years ago, not many saw the influence twitter, facebook and others would have on the web
  • Content explodes, aggregation becomes more important
    - Not because users can’t aggregate, but have a harder time knowing what to aggregate – source selection because key
  • Context, context, context. Social media is about conversations, the semantic web and linked-data will help provide context for those conversations:

    - Ex: conversation about haiti tragedy marked up with link to haiti population according to world fact book.

    Semantic web, linked data
  • Social Search grows
  • Finding information is becoming easier. Self-service research becomes easier – new tools (like WSJ Pro) are empowering the end user. As this paradigm shift continues, your ability to be an effective researcher will be limited by the value of your network
  • Transcript

    • 1. Social Media for Business Research Ken Sickles Global Director, Solution Strategy Dow Jones
    • 2. * Compete.com (via Gigya’s “Social is the Next Search”)
    • 3. NOWHERE YOU’VE HEARD OF, NY CITY LIMITS POPULATION: 500
    • 4. Web “1.0” gave “Everyone” a voice
    • 5. Web “1.0” gave “Everyone” a voice
    • 6. Social Media has made the global conversation “local” 75+ Million 450+ Million 60+ Million
    • 7. “gather real-time market intelligence”
    • 8. 84% 31% Importance & Satisfaction of Private Company Info Sources
    • 9. 45% use Facebook or Twitter
    • 10. 1 out of every 5 tweets mention a product or brand
    • 11. Company • What are the companies saying? • What are customers saying? • What are partners saying? • What are employees saying?
    • 12. Product • What are customers saying? • What questions are companies asking? • What are companies saying?
    • 13. People • Which people are the experts? • Which employees matter? • Which executives are having conversations?
    • 14. Topics • What industry trends are emerging? • What are good sources for more info? • Which companies and or people are related?
    • 15. $42 Billion * IDC 2009
    • 16. * Compete.com (via Gigya’s “Social is the Next Search”)
    • 17. Begin building your social network
    • 18. (Some) Tools to use • Tweetdeck • Listorious • Social Mention • Trendrr • Wefollow • Bing • Twitt(urly)
    • 19. kensickles@dowjones.com http://linkedin.com/kensickles bstg http://letstalkknowledge.com/ Thank you!!
    • 20. Appendix