why “ Social Media: The online technologies and practices that people use to share opinions, insights, experiences and perspectives. Keeping in touch Making new friends Paying it forward Peer pressure Displaying Creativity Exhibitionism Altruistic impulse Getting validation Affinity to groups how Blogs Social networking sites wikis User generated videos and podcasts Forums and message boards Ratings and reviews tagging RSS widgets
45 million global visitors Every minute – 20 Hrs worth of new video uploaded If Facebook was a country. Population? > 300 million! The number of blogs worldwide is > 200 million. Growing at the rate of nearly 900,000 a day!
Some facts…… Social media has overtaken porn as the number one activity on the Web. Years to reach 50 millions users: Radio, 38 years; TV, 13 years; Internet, 4 years; iPod, 3 years. Facebook added 100 million users in less than nine months Eighty percent of companies use LinkedIn as their primary tool to find employees. The fastest growing segment on Facebook is 55- to 65-year-old females. Ashton Kutcher and Ellen DeGeneres have more Twitter followers than the entire populations of Ireland, Norway, and Panama. Eighty percent of Twitter usage is on mobile devices. People update anywhere, anytime. Imagine what that means for bad customer experiences! Generation Y and Z consider e-mail passé. Boston College stopped distributing e-mail addresses to incoming freshmen in 2009. What happens in Vegas stays on ….. YouTube, Flickr, Twitter, Facebook...
And some more facts….. YouTube is the second largest search engine in the world. Wikipedia has more than 13 million articles. Some studies show it's more accurate than Encyclopædia Britannica. Seventy-eight percent of these articles are non-English. Facebook users translated the site from English to Spanish via a Wiki in less than two weeks and cost Facebook $0. Twenty-five percent of search results for the world's top 20 largest brands are links to user-generated content . Thirty-four percent of bloggers post opinions about products and brands. Seventy-eight percent of consumers trust peer recommendations. Only 14 percent trust advertisements. Only 18 percent of traditional TV campaigns generate a positive ROI. Ninety percent of TiVo users skip ads. More than 1.5 million pieces of content (Web links, news stories, blog posts, notes, photos, etc.) are shared on FB daily.
But this is kids stuff right? How does it effect my business? First of all, its not just kids.
“ By the time there is a case study in your specific industry, it is going to be way too late for you to catch up” - Seth Godin
Social Media and Business?? <ul><li>Advertising </li></ul><ul><li>Sales </li></ul><ul><li>Reputation </li></ul><ul><li>Listening </li></ul><ul><li>B2B </li></ul>
It helped one of these car companies. Car purchase decided, not by the size of Xylo ads, but by the 22 recommendations here!!
It helps sell T-shirts..rather, it RUNS a large T-shirt business!
And it helped this plumber. Same could happen with a doctor, a lawyer, a stock broker.. There will be positive recommendations, as also negative…. “ Don’t go to that guy.. He’s a cheat..” etc. “ I will tell my Facebook friends about your brand. Not because I like your brand, but because I like my friends!”
listening “ Your brand is what your customers say it is. speaking Speaking is about starting a conversation. “ engaging Customers engaging with you, as well as each other. “ evangelizing Evangelize your customers and transform your relationship with them “ adopting Adopting Social Media practices and changing the way your company operates. “
Our recommendation for a Social Media Strategy Strategy is based on the 4P’s of Social Media . Strategy is based on the understanding the Social Media Engagement Landscape .
<ul><li>The 4P’s of Social Media and the S M Engagement Landscape </li></ul><ul><li>People: Identifying the people we wish to target – Who are our customers? </li></ul><ul><li>The Social Media Engagement Landscape: </li></ul><ul><li>Authors : Generate content on Social Media. </li></ul><ul><li>Critics : Comment on, rate and review content. </li></ul><ul><li>Collectors/Curators : Collect and Tag Social Media Content. </li></ul><ul><li>Joiners : Join groups/social networks/forums. </li></ul><ul><li>Consumers : Consume content created by Authors and Critics. </li></ul><ul><li>Inactives : None of the above. </li></ul><ul><li>Purpose: Define the purpose of the Social Media initiatives we wish to undertake </li></ul><ul><li>Plan: Create a stage wise implementation and rollout plan for meeting the purpose </li></ul><ul><li>Process : Create a process, and now select the tools and technologies required to execute the plan. This process could well include one or more of Blogging, creating or using communities via Social Networking, participating in Message Boards and Forums, creating Podcasts / Videos, offering Ratings and Reviews. </li></ul>
The Way Ahead <ul><li>It doesn’t need to happen in one day </li></ul><ul><li>Pace yourself </li></ul><ul><li>Plan according to your resources </li></ul><ul><li>But you need to be committed </li></ul>
A bit about us Social Wavelength is a startup venture, incorporated in April 2009. Social Wavelength though, has been many years in the making! Sanjay Mehta: one of India’s earliest Internet entrepreneurs. Co-founded Homeindia.com in 1998, worked hands-on with this e-retail venture, selling ethnic Indian consumer products to global customers. Over the 9 years spent at Homeindia.com, mastered the business model – B2C and B2B over the Internet, consumer behavior, technologies, SEO/SEM, blogging, etc. After selling Homeindia.com in 2007, took over as COO, Compare Infobase Ltd. MapsofIndia.com, MapsofWorld.com, IndiaEdu.com, HeadlinesIndia.com, PicturesIndia.com, DGreetings.com, etc. were some of the leading portals of this Delhi based company. Besides managing operations and streamlining the business, got all of these entities into an active route towards Social Media. After spending 1.5 years at Compare Infobase, Sanjay moved on to start this new venture in Social Media Management, viz. Social Wavelength . Startup team in place, and the 25 or so client engagements in place. Expanding rapidly!
Questions? If you need a copy of this presentation, please leave your business card. We will email it to you. Sanjay Mehta Jt. CEO, Social Wavelength. [email_address] Company blog: blog.socialwavelength.com Personal blog: GrayHairWisdom.com Twitter: twitter.com/sm63 LinkedIn: linkedin.com/in/spmehta Tel: +91 98200-40918