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Can social media make or break your company?

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  • 1. How can social media make or breakyour company and/or brand?Assignment European Business Law – Prof. Dr. Louis VerbekeGroup: Cédric Claeys, Philippe Docx, Tommy Vandepitte, Nico Verspeet
  • 2. Social Media = hot2| © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 3. Social Media – Some characteristics Collective Transparency Participation Persistence Emergence Independence Source: Gartner: http://blogs.gartner.com/anthony_bradley/2010/01/07/a-new-definition-of-social-media/3| © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 4. Social Media – Key Players Regulators Public Users Management PR HR Legal Company Service providers Users Customers Pressure groups Users Users Source: Gartner: http://blogs.gartner.com/anthony_bradley/2010/01/07/a-new-definition-of-social-media/4| © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 5. Social Media – Map to the course Global Golden mismatch Map Rule Vehicle Traffic rules Organisation Grey zone Driver behaviour Behaviour of others5| © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 6. Poll Who believes that a company should actively follow up social media?6| © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 7. Poll In whose company is social media monitoring embedded and interactively followed?7| © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 8. Cases8| © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 9. Key Takeaways From one-way Transparency Be Smart communication builds trust Be Respectful to Be Human conversations Source: Harvard Business Review Dec. 2010: Best Buy’s CEO on Learning to Love Social Media10 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 10. Social Media crisis situations Source: SMI: http://socialmediainfluence.com/2011/09/05/social-media-screw-ups-the-updated-history/11 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 11. Case Nestlé Greenpeace report on palm oil producer Source: Greenpeace: http://www.greenpeace.org/usa/Global/usa/report/2010/1/illegal-forest-clearance-and-r.pdf12 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 12. Question How would you react if you would be in charge at Nestlé?14 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 13. Case Nestlé Reaction of Nestlé Source: Nestle facebook page: http://www.facebook.com/Nestle15 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 14. Case Nestlé Nestlé refrains from using palm oil supplier José Lopez VP Operations Nestlé Source: Nestle web site: http://www.nestle.com.my/CSV/CreatingSharedValueCaseStudies/AllCaseStudies/Pages/palmoil_diversity.aspx16 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 15. Key Takeaways Be prepared for The truth Respond social media to doesn’t matter: honestly, amplify offline perception correctly and opinion does proportionally Source: Adapted from Scott Gould: http://scottgould.me/the-7-things-nestle-shouldve-done17 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 16. Feedback from the field It can’t be stopped Must be integrated in your company DNA A mean to an end, a tool, a facilitator to come to a customer-oriented organisation Creates happier customers, employees, suppliers and shareholders Stay alligned Still in its infancy New functions created ROI difficult to calculate More important than email, journals and press Interaction between people to give the company and brand a more ‘human’ touch18 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 17. Enter the arena19 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 18. Question What could/should you as a manager do with regards to social media?20 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 19. What could/should you as a manager do? Find your own fit Company strategy and values Company social media strategy Policy Organization Create a Social Media Guide Establish the Ground Rules for Dialogue Monitor Social Networks Recruit Allies Respond Quickly Tailor Your Response to the Situation Direct the Discussion Don’t Be Defensive Build Bridges Source: Breakthrough PR: http://breakthroughpr.com/tag/nestle/21 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 20. Which actions do you need to take to integrate Social Media within your company? Important steps to take Step1: Create awareness and build belief and knowledge Step 2: Initiate concrete projects to lead to immediate successes Step 3: Fuel the conversations Step 4: Evaluate, iterate and keep improving Source: The Social Dynamics Model – InSites Consulting22 | © Vlerick Leuven Gent Management School | 04-11-2011 | EBL-SOCIAL-MEDIA-CAN IT MAKE OR BREAK A COMPANY OR BRAND-V6.PPTX
  • 21. © Vlerick Leuven Gent Management School

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