Social Media Presentation Strathclyde Jan 2010


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Social Media presentation to MBA class, Strathclyde University, Glasgow, January 19, 2919

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Social Media Presentation Strathclyde Jan 2010

  1. 1. Social media and business<br />Why should I care?<br />
  2. 2. What is social media?<br />“An umbrella term that defines the various activities that integrate technology, social interaction, and the construction of words, pictures, video and audio.”<br />Source:Wikipedia<br />
  3. 3. What does it look like?<br />Facebook<br />MySpace<br />Twitter<br />LinkedIn<br />Flickr<br />Blogs<br />RSS feeds and much, much more<br />
  4. 4. By the numbers<br />Facebook – 122,220,617 monthly visitors<br />MySpace – 55,599,585<br />Twitter – 23,579,044<br />LinkedIn – 11,228,746<br /> – 14,649,224<br /> – 5,881,943<br />Bebo – 3,120,062<br />Source: eBizMBA<br />
  5. 5. Business the old way<br />selling<br />pushing<br />advertising<br />talking TO the customer<br />
  6. 6. What’s wrong with this?<br />18% of TV campaigns generate a positive ROI<br />Average person subjected to 3000 ads a DAY<br />90% of people who can, skip TV ads<br />14% of people trust ads<br />Source: Nielsen, Trust in Advertising report, October 2007 <br />
  7. 7. Business the new way<br />Dialogue with consumers<br />Two-way conversation<br />Listening<br />Engaging<br />Open<br />Transparent<br />Trustworthy<br />
  8. 8. So?<br />78% people trust recommendations from other consumers<br />(14% people trust adverts)<br />34% people post opinions on products and brands on their blogs<br />Source: Nielsen, Trust in Advertising report, October 2007<br />
  9. 9. Why should I care?<br />3 out of 4 Americans use social networking sites<br />2/3 global internet population use social networking sites<br />Social networking sites<br />Time spent on social networks is growing at 3 times the overall rate of the internet – 10% of all internet time<br />
  10. 10. Why should I care?<br />100 million videos viewed on YouTube every day <br />3,600,000,000 pictures on (June 09)<br />3,000,000 Tweets every day<br />5,000,000,000 minutes on Facebook every day<br />Source: What the F**K is social media? by Marta Z Kagan<br />
  11. 11. Why should I care?<br />93% of social media users believe companies should have a presence on social media<br />85% believe they should go further and interact with their customers<br />Source: Cone, Business in Social Media, a study, September 08<br />
  12. 12. Why should I care?<br />“Social media is only going to become more pervasive and as such, become a critical factor in the success or failure of any business.”<br />Brian Solis, The Social Media Manifesto <br />
  13. 13. Resistance is futile<br />“For companies, resistance to social media is futile. Millions of people are creating content for the social web. Your competitors are already there. Your customers have been there for a long time. If your business isn’t putting itself out there, it ought to be.”<br />BusinessWeek, February 19 2009 <br />
  14. 14. Power to the People<br />“Technology is shifting the power away from the editors, publishers, the establishment, the media elite. Now its the people who are in control.”<br />Rupert Murdoch<br />
  15. 15. Pepsi’s social media touchdown<br />Pepsi drops $20 million Super Bowl advert for social media campaign<br />
  16. 16. Does this stuff work?<br />“Socially engaged companies are more financially successful.”<br />Source: Engagement, Raking the Top 100 Global Brands. Prepared by Wetpaint and Altimeter. July 2009<br />
  17. 17. Does this work?<br />“While much has been written questioning the value of social media, this landmark study has found that the most valuable brands in the world are experiencing a direct correlation between top financial performance and deep social engagement. The relationship is apparent and significant: socially engaged companies are, in fact, more financially successful.”<br />
  18. 18. Does this work?<br />Starbucks and Dell most socially engaged brands in the world<br />
  19. 19. Does this work?<br />STARBUCKS<br /> – putting the best consumer ideas into action<br />Facebook – 3.5 million fans<br />Twitter – 250,000 followers<br />Mini Starbucks card 1406 comments and 12,382 ‘likes’ on Facebook<br />
  20. 20. Does this work?<br />DELL<br />Direct2Dell blog<br />Ideasstorm blog<br />1.5 million Twitter followers<br />$6.5 million sales through Twitter<br />
  21. 21. Social media and PR<br />Case study - REIN4CE<br />Niche PR business<br />Twitter<br />Blogging<br />LinkedIn<br />
  22. 22. Social media and PR<br />Case study REIN4CE<br />BEFORE social media push<br />May 09 – monthly visits to website 50<br />AFTER social media push<br />June 09 to Nov 09 - monthly visits increased 91 to 507.<br />207 non-bounce visits<br />43% of traffic from referring sites – LinkedIn, Twitter, Imodules and facebook<br />Average time on site 9 mins 9 secs<br />467 high quality Twitter followers<br />Source: Google Analytics<br />
  23. 23. Social Media and PR<br />Case study REIN4CE<br />Member of 50 groups on LinkedIn<br />Set up 5 LinkedIn groups<br />Regularly blog and post answers on LinkedIn<br />315 LinkedIn connections<br />
  24. 24. Social Media and PR<br />Case study REIN4CE<br />Results<br />Asked to chair European Insurance Forum Conference in Dublin<br />Sponsoring reinsurance conference in Arizona through Twitter<br />Business enquiries from the Middle East, Bermuda, London, and the US<br />
  25. 25. No silver bullet<br />Social is just another tool<br />Technology that allows better communication<br />
  26. 26. New part of the business mix<br />