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Social Media in Business Dr Nadia Amin Principal Lecturer in Information Management Westminster Business School Email: email@example.com Twitter: @nadia_mk
Evolution of web technologies Source: Adapted from Spivack (2007)
The Emergence and Rise of Mass Social Media Source: D.Hinchcliffe, Web 2.0 Blog, web2.wsj2.com cited in Turban et al, 2010]
Social Media “ ..is the online platform and tools that people use to share opinions, experiences, insights, perceptions and various media, including photos, videos, and music with each other”” “Social network: a special structure composed of individual (or organizations) that is based on how its members are connected through various social familiarities” *[Turban, King and Lang, 2009, Introduction to Electronic Commerce, 2nded]
Top 5 Social Media Myths Employees will waste time Social media is for kids We will lose control to the ’nutters’ Social media is a security risk There is no clear ROI [source: Matthew Hodgson, September 20, 2009, www.theappgap.com ]
Social Media Revolution [http://www.youtube.com/watch?v=lFZ0z5Fm-Ng] [Erik Qualman: Socialnomics]
More than 500 million active users 50% of active users log on to Facebook in any given day Average user has 130 friends People spend over 700 billion minutes per month on Facebook About 70% of Facebook users are outside the US There are more than 150 million active users currently accessing Facebook through their mobile devices. People that use Facebook on their mobile devices are twice as active on Facebook than non-mobile users.
Gap Asks Facebook Fans for New Logo Designs Gap announced new “contemporary” logo New logo outrages customers Negative feedback on Facebook Parody accounts on Twitter Is Crowdsourcing an alternative?
a micro-blogging social network to share content via short messages Used by businesses, celebrities and media A post (tweet) is a 140-character message You can ‘follow’ people, and they can ‘follow’ you too You can protect tweets (privacy option) You can create lists and follow others’ lists A survey in January 2010 found there to be 75 million Twitter users. Many of these accounts were inactive; 40% had never sent a single tweet. There are around 10 to 15 million "active" Twitter accounts.
Reputation Management:BP and Oil Spill in Gulf of Mexico Was BP oil spill the world’s worst PR disaster? Fake BP Public Relations Twitter Account a Viral Hit BP Oil Spill Response Parodies Flood YouTube BP has purchased Google and Yahoo search terms in order to influence consumers’ views on the oil spill
BlendTech Marketing on YouTube http://www.youtube.com/watch?v=lAl28d6tbko&feature=player_embedded#!
Email is important! Email is needed and complements social media What happens when you sign up to network? What happens when you buy a product online? What happens when you receive a DM on Twitter? 92% of adult Internet users send or read email more than regularly visit any social network email marketing outperforms virtually all other media in terms of ROI Liz Azyan,www.lgeoresearch.com]