Using Social Media For Competitive Advantage Final

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The second lecture I gave the class at the Schulich MBA Program in India, Schulich School of Business, York University, Mumbai Campus

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  • Use it to gather valuable information about how your product, service, and brand are perceived in the marketplace.
  • Anil Dash is on Twitters recommended list Has over 100,000 followers from this – but in reality he has significantly less
  • - immediate feedback example – Midol and twitter moms - Deepened social relationships – LL Bean Engage audience in success – Google does this Engage market in co-creating value – Dell with their buying social platform
  • Using Social Media For Competitive Advantage Final

    1. 1. Using Social Media for Competitive Advantage The conversation will happen, with or without you @ shira abel
    2. 2. Who Am I? Shira Abel Business Development & Marketing Abel Communications @shiraabel
    3. 3. What is Social Media? <ul><li>Participatory online media where comments, conversation, news, photos, videos and podcasts are made public </li></ul><ul><li>An effective guidepost </li></ul><ul><li>Connect post-purchase experiences with potential customers </li></ul><ul><li>Social media is an activity that is based on the notion of influence </li></ul><ul><li>Integrated marketing </li></ul>@ shira abel
    4. 4. Competitive Advantage <ul><li>Competing on cost is bad </li></ul><ul><li>Conversation is happening regardless </li></ul><ul><li>Information is power </li></ul><ul><li>Building loyalty with customer </li></ul>@ shira abel
    5. 5. GAP @ shira abel
    6. 6. Ford is Building a Community @ shira abel
    7. 7. From Seth Godin’s Blog <ul><li>It's marketing when my friend and I are talking about how the thing we bought from you changed us. </li></ul>@ shira abel
    8. 8. Low Interaction @ shira abel
    9. 9. No One Cares @ shira abel
    10. 10. Hot For Words @ shira abel
    11. 11. People Care & She Responds
    12. 12. Spam on Page
    13. 13. Where’s the Conversation? @ shira abel
    14. 14. The One Interactive Tool is Too Complicated @ shira abel
    15. 15. Brands are Reaching Out @ shira abel
    16. 16. And People are Responding @ shira abel
    17. 17. Social Dell – Niche to Masses @ shira abel
    18. 18. Finding People Where They Play @ shira abel
    19. 19. Welcoming them In @ shira abel
    20. 20. Giving a Platform to Complain @ shira abel
    21. 21. Another Example (different niche) @ shira abel
    22. 22. Not Just for Niche Players @ shira abel
    23. 23. Better Than Campaign Sites? <ul><li>Coke is using social media sites from now forward – no more one-off campaign sites </li></ul><ul><li>Building presence on Facebook and YouTube instead </li></ul><ul><li>Coca-Cola stated that their social media and SEO presence is a better homepage than Coke.com </li></ul>@ shira abel
    24. 24. YouTube is 2 nd Largest Search @ shira abel
    25. 25. Be Where Your Fans Are @ shira abel
    26. 26. It’s Not About The Numbers It’s about getting the right people following you, not about getting everyone to follow. @ shira abel
    27. 27. Give Traditional Media Campaigns Longer Life @ shira abel
    28. 28. Ping.Fm – Blasting Info @ shira abel
    29. 29. Social Media Mixed With Traditional Media @ shira abel
    30. 30. H & R Block App on Facebook @ shira abel
    31. 31. Honesty Box – Popular App @ shira abel
    32. 32. H&R Block <ul><li>“ The social-media strategy includes a Twitter account, widgets, blogs, a YouTube channel and a Facebook fan page and apps -- a recent one in the form of a quiz asks, &quot;How deductible are you?“… The core of the social-media plan is a 1,000-member tax-professional team, chosen from 100,000 H&R employees across the country, who have been &quot;social-media-qualified .&quot; “ </li></ul>@ shira abel
    33. 33. Social Media Works @ shira abel
    34. 34. Where is Your Brand? @ shira abel
    35. 35. Dilemma <ul><li>Email isn’t as effective as it once was </li></ul><ul><li>Social Networks are gaining web traffic </li></ul><ul><li>People are on social networks to interact with people, not brands </li></ul><ul><li>Push marketing is not as effective (especially in social media) </li></ul><ul><li>Google personalized search has injured SEO </li></ul>@ shira abel
    36. 36. Who Has More Mind Share? @ shira abel
    37. 37. The Future @ shira abel
    38. 38. Fast Accurate Information <ul><li>Immediate feedback from your target market </li></ul><ul><li>Allows for instant adjustment to business model / marketing </li></ul><ul><li>Deepened social relationships </li></ul><ul><li>Engage audiences energy in success </li></ul><ul><li>Create more &quot;touchpoints&quot; to affect customer's brand experience (without annoying them) </li></ul><ul><li>Engage customer / market in co-creating value  </li></ul><ul><li>Help create competitive advantage </li></ul>@ shira abel
    39. 39. Twitter Moms – The Midol Debacle <ul><li>Wearing your baby seems to be in fashion. I mean, in theory it’s a great idea. There’s the front baby carrier, sling, schwing, wrap, pouch. And who knows what else they’ve come up with. Wear your baby on your side, your front, go hands free. Supposedly, it’s a real bonding experience. They say that babies carried close to the body tend to cry less than others. But what about me? Do moms that wear their babies cry more than those who don’t. I sure do! These things put a ton of strain on your back, your neck, your shoulders. Did I mention your back? I mean, I’ll put up with the pain because it’s a good kind of pain; it’s for my kid. Plus, it totally makes me look like an official mom. And so if I look tired and crazy, people will understand why. </li></ul><ul><li>– THE OFFENDING AD ON YOUTUBE </li></ul>@ shira abel
    40. 40. Immediate Response <ul><li>Mothers were insulted </li></ul><ul><li>Let their voices be heard </li></ul><ul><li>Blogs were written </li></ul><ul><li>Twitter was “on fire” </li></ul><ul><li>Midol took down ads and sent a very public apology </li></ul>@ shira abel
    41. 41. <ul><li>USES </li></ul>@ shira abel
    42. 42. Co-creative IP Development <ul><li>Bearingpoint uses a wiki to engage its customer base (over 16,000 users worldwide) </li></ul><ul><li>Evolve open source data architecture model </li></ul><ul><li>Open collective work to public leads to greater standardization </li></ul><ul><li>Increases credibility and market awareness </li></ul><ul><li>Building competitive advantage on their deep understanding of the intricacies of the evolving standard </li></ul><ul><li>Customers collaborate with them in building this technical resource for the entire industry to use </li></ul><ul><li>Enriches customer relationships. </li></ul>@ shira abel
    43. 43. Product Development <ul><li>&quot;Idea Sites&quot; used by  Starbucks  and  Dell  to solicit and prioritize customer input </li></ul><ul><li>Companies can structure deep dialogs with their large customer bases and invite them into the product development process </li></ul><ul><li>Truly crowdsourced companies like  Threadless , however, go even farther and outsource pieces of the development and design process to customers who participate free of charge or for non fee-based reward </li></ul>@ shira abel
    44. 44. Customer Support & Engagement <ul><li>National Instruments' &quot;Nerd Network&quot;  engages over 110,000 users to answer 46% of their customer support questions while also engaging them in new product discussions and student mentoring programs. </li></ul>@ shira abel
    45. 45. Partner Collaboration <ul><li>IBM  uses social technologies, inviting its 100,000 partner network to collaborate with its employees and with each other to help grow their collective business success.  </li></ul>@ shira abel
    46. 46. Employee Engagement <ul><li>Intranets are transforming into socially empowered centers of value creation, morale building and brand reinforcement. </li></ul><ul><li>Example: Best Buy's BlueShirtNation. Employee programs are being transformed by the social participation of the employees </li></ul><ul><li>Yammer – Twitter for the office </li></ul>@ shira abel
    47. 47. Basics <ul><li>Identify and clearly state business objectives before deciding on specific elements of a social media program </li></ul><ul><li>Behaviors of your target audience are key in setting the strategy and identifying the metrics </li></ul><ul><li>Measure conversational content: </li></ul><ul><ul><li>Who is talking about you </li></ul></ul><ul><ul><li>What are they saying </li></ul></ul><ul><li>Metrics collected near and within your purchase process link the conversations to the actual impact on conversions </li></ul>@ shira abel
    48. 48. <ul><li>Thank you </li></ul><ul><li>Shira Abel-Shvo </li></ul><ul><li>Abel Communications </li></ul><ul><li>http://www.abel-communications.com </li></ul><ul><li>@shiraabel </li></ul>@ shira abel
    49. 49. References <ul><li>Coke Abandons Plans for Campaign Websites to Invest in Social Media http://blog.hubspot.com/blog/tabid/6307/bid/5487/Coke-Abandons-Plans-for-Campaign-Websites-to-Invest-in-Social-Media.aspx?source= Blog_Email_[Coke+Abandons+Plans +] </li></ul><ul><li>http://www.tgdaily.com/trendwatch-features/39777-youtube-surpasses-yahoo-as-world’s-2-search-engine </li></ul><ul><li>Article: A CMO's Guide to Social Media http://magusconsulting.com/Capabilities/SocialMediaStrategies/CMOsGuidetoSocialMedia/tabid/73/Default.aspx </li></ul><ul><li>Dell Says It Has Earned $3 Million From Twitter http://bits.blogs.nytimes.com/2009/06/12/dell-has-earned-3-million-from-twitter/ </li></ul><ul><li>Army of Tweeting Tax Pros Leads H&R Block Social Push http:// adage.com/digital/article?article_id =141236 </li></ul><ul><li>Part I: Chapter 03 &quot;What is Social Media“ http://www.readthis.com/part-i-chapter-3-what-is-social-media.html </li></ul><ul><li>Pearl Jam Gives A Song Away For A Tweet http://www.techcrunch.com/2010/01/04/free-pearl-jam-song/?utm_source= MartinOrton&utm_medium = twitter&utm_campaign = Feed:+Techcrunch+(TechCrunch)&utm_content =Twitter </li></ul><ul><li>Life on the list – Amil Dash http://dashes.com/anil/2009/12/life-on-the-list.html </li></ul><ul><li>Social Media Moves Product http://www.thedigitalroyalty.com/2009/social-media-monetization/ </li></ul><ul><li>Moms and Motrin http://parenting.blogs.nytimes.com/2008/11/17/moms-and-motrin/ </li></ul><ul><li>BearingPoint Enterprise Wiki has over 16000 users http://www.customware.net/repository/display/CustomWare/2008/11/20/BearingPoint+Enterprise+Wiki+has+over+16000+users </li></ul><ul><li>http://sethgodin.typepad.com/seths_blog/2010/01/in-between-frames.html?utm_source= feedburner&utm_medium = feed&utm_campaign = Feed:+typepad/sethsmainblog+(Seth's+Blog ) </li></ul>@ shira abel

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