Social Media Opportunities & Challenges: What Businesses Need to Know

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Presented to the Las Vegas Chamber of Commerce, Business Education Series (BES)

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  • Social Media Opportunities & Challenges: What Businesses Need to Know

    1. 1. What Businesses Need to Know Presented by Cheryl Bella, Sr. Vice President The Firm Public Relations & Marketing Social Media: Opportunities & Challenges
    2. 2. Debunking Myths – Social Media . . . <ul><li>Will save my business </li></ul><ul><li>Doesn’t cost anything </li></ul><ul><li>Must be used by EVERY company that wants to be successful </li></ul><ul><li>Is all the marketing I need </li></ul>
    3. 3. Real Benefit Provides a new way to engage and communicate with your customers
    4. 4. Examples of Social Media <ul><li>Blogs </li></ul><ul><ul><li>Corporate, Personal </li></ul></ul><ul><ul><li>Typepad, Wordpress, iWeb, etc. </li></ul></ul><ul><li>Social Networking Sites </li></ul><ul><ul><li>Facebook, MySpace, LinkedIn, Plaxo, etc. </li></ul></ul><ul><li>Microblogging Sites </li></ul><ul><ul><li>Twitter, Plurk, etc. </li></ul></ul>
    5. 5. Examples of Social Media <ul><li>Pod and Video Casts </li></ul><ul><ul><li>YouTube, Veoh, Vimeo, etc. </li></ul></ul><ul><li>Photo Sharing Sites </li></ul><ul><ul><li>Flikr, Photobucket, Zoomr, etc. </li></ul></ul><ul><li>Wikis </li></ul><ul><ul><li>Wikipedia, wikiHow, industry- company-specific </li></ul></ul>
    6. 6. Examples of Social Media <ul><li>Forums, Ratings, Reviews </li></ul><ul><ul><li>Yelp.com, Rotten Tomatoes, Trip Advisor, etc. </li></ul></ul><ul><li>Tags </li></ul><ul><ul><li>Delicious.com, Digg, Stumble Upon, etc. </li></ul></ul><ul><li>Virtual Worlds </li></ul><ul><ul><li>Second Life, There.com, etc. </li></ul></ul><ul><li>Aggregating Sites </li></ul><ul><ul><li>Netvibes, Pageflakes, etc. </li></ul></ul>
    7. 7. What Tools Have in Common <ul><li>Using technology for social interaction – sharing & discussing </li></ul><ul><li>Provide opportunities to build communities </li></ul><ul><li>Incorporate or are based on user-generated content </li></ul>
    8. 8. What Social Media Is <ul><li>Online relationship building </li></ul><ul><li>Including your customers in the discussion </li></ul><ul><li>Adding value </li></ul>
    9. 9. Focus On Two Things <ul><li>How relationships can change, not on the tools themselves </li></ul><ul><li>How social media fits in with your current marketing plan </li></ul>
    10. 10. <ul><li>These may be Web 2.0 tools but the same basic Marketing 101 rules apply </li></ul>
    11. 11. Survey <ul><li>Read blogs, watch videos, read ratings & reviews </li></ul><ul><li>Have a social networking page </li></ul><ul><li>Use RSS feeds, add tags to Web pages or photos </li></ul><ul><li>Post ratings or reviews, comment on blogs, add to online wikis </li></ul><ul><li>Publish a blog, upload & share videos, write & publish online at least monthly </li></ul>
    12. 12. Social Technographics Ladder Publish & upload Post ratings & reviews, comment on blogs Tag pages, use RSS feeds Have social networking page Read and watch From Groundswell , Charlene Li & Josh Bernoff
    13. 13. Profile of Online US Adults <ul><li>Creators – 21% (up from 18% in 2007) </li></ul><ul><li>Critics – 37% (up from 25% in 2007) </li></ul><ul><li>Collectors – 19% (up from 12% in 2007) </li></ul><ul><li>Joiners – 35% (up from 25% in 2007) </li></ul><ul><li>Spectators – 69% (up from 48% in 2007) </li></ul><ul><li>Inactives – 25% (down from 44% in 2007) </li></ul>From Groundswell , Charlene Li & Josh Bernoff; 2008 figures from http://www.forrester.com/Groundswell/
    14. 14. Interesting Facts & Figures <ul><li>Men 18-27 </li></ul><ul><li>41% are Creators </li></ul><ul><li>59% are Joiners </li></ul><ul><li>22% are Inactive </li></ul>From Groundswell , Charlene Li & Josh Bernoff
    15. 15. Interesting Facts & Figures <ul><li>Older Americans, 52-62 </li></ul><ul><li>8% are Creators </li></ul><ul><li>8% are Joiners </li></ul><ul><li>55% are Inactive </li></ul>From Groundswell , Charlene Li & Josh Bernoff
    16. 16. Interesting Facts & Figures <ul><li>Small Business Owners (2007) </li></ul><ul><li>25% were Creators (vs 18%) </li></ul><ul><li>31% were Critics (vs 25%) </li></ul><ul><li>17% were Collectors (vs 12%) </li></ul><ul><li>24% were Joiners (vs 25%) </li></ul><ul><li>53% were Spectators (vs 48%) </li></ul><ul><li>38% were Inactive (vs 44%) </li></ul>From Groundswell , Charlene Li & Josh Bernoff
    17. 17. Interesting Facts & Figures <ul><li>Older Americans, 52-62 </li></ul><ul><ul><li>8% are Creators </li></ul></ul><ul><ul><li>8% are Joiners </li></ul></ul><ul><ul><li>55% are Inactive </li></ul></ul><ul><li>39% are Spectators </li></ul>From Groundswell , Charlene Li & Josh Bernoff
    18. 18. Don’t Get Overwhelmed <ul><li>Focus on the categories of social media, not the tools themselves </li></ul><ul><li>Consider your resources & commitment you want to make </li></ul><ul><li>Find experts who can keep you up-to-date & summarize tools for you </li></ul><ul><li>Start by following what others are doing </li></ul>
    19. 19. Corporate Blogs www.blogsouthwest.com
    20. 20. Corporate Blogs www.mystarbucksidea.com
    21. 21. Twitter ( www.twitter.com )
    22. 22. Twitter ( www.twitter.com )
    23. 23. Twitter ( www.twitter.com )
    24. 24. LinkedIn ( www.linkedin.com )
    25. 25. LinkedIn ( www.linkedin.com )
    26. 26. LinkedIn ( www.linkedin.com )
    27. 27. Facebook ( www.facebook.com )
    28. 28. Facebook ( www.facebook.com )
    29. 29. Facebook ( www.facebook.com)
    30. 30. Facebook ( www.facebook.com)
    31. 31. Video Casts ( www.YouTube.com ) Pay News Network YouTube Channel - IRS Service Announcement http://www.youtube.com/user/paynewsnetwork
    32. 32. Video Casts (www.YouTube.com) http://www.youtube.com/user/Blendtec
    33. 33. Blog ( www.earthhourlv.org )
    34. 34. Blog ( www.earthhourlv.org )
    35. 35. Facebook ( www.facebook.com )
    36. 36. Twitter ( www.twitter.com )
    37. 37. Video Casts ( www.YouTube.com )
    38. 38. Podcast Facts & Figures <ul><li>Americans who downloaded & listened to audio podcast – up from 13-18%, 2007-2008 </li></ul><ul><li>More likely to have college degree </li></ul><ul><li>Household income > $75K/year </li></ul><ul><li>53% of podcast listeners are men; 47% women </li></ul>From Edison Research, The Podcast Consumer Revealed 2008
    39. 39. Podcast Facts & Figures <ul><li>Comfortable watching TV through non-traditional means </li></ul><ul><li>Active online purchasers </li></ul><ul><li>Resistant to unwelcome advertising </li></ul>From Edison Research, The Podcast Consumer Revealed 2008
    40. 40. Reviews/Rating http://www.yelp.com/biz/the-apple-pan-los-angeles
    41. 41. Reviews/Ratings Reviewer A: I'm just not impressed by the hamburgers.  They're not all they're hyped up to be, the wait is always crazy during peak hours.. I'd rather get a cheaper equivalent from in N out. Reviewer B: To take a walk back in time, when quality and quantity was king, this is the place.
    42. 42. Handling Negative Comments <ul><li>Don’t enter into an argument </li></ul><ul><ul><li>Can take off-line </li></ul></ul><ul><li>Stay factual </li></ul><ul><ul><li>Correct misinformation </li></ul></ul><ul><li>Apply basic customer service skills </li></ul><ul><ul><li>People just need to vent </li></ul></ul><ul><li>Recognize & acknowledge your evangelists </li></ul>
    43. 43. Handling Negative Comments http://moblogsmoproblems.blogspot.com (February 17, 2009)
    44. 44. <ul><li>Focus on how relationships are changing, not on the tools themselves </li></ul><ul><li>Don’t do it just to do it </li></ul><ul><ul><li>Where does social media fit into your current marketing plan </li></ul></ul><ul><ul><li>Bring in individual tools as needed </li></ul></ul><ul><li>Find sources who can keep you up-to-date </li></ul><ul><ul><li>You don’t personally have to try every tool </li></ul></ul><ul><ul><li>Identify and rely on a few good experts </li></ul></ul>Recap: Tips to Remaining Sane
    45. 45. People I Follow <ul><li>Mack Collier - Viral Garden </li></ul><ul><ul><ul><li>http://moblogsmoproblems.blogspot.com/ </li></ul></ul></ul><ul><li>Forrester Research </li></ul><ul><ul><ul><li>http://blogs.forrester.com/groundswell/ </li></ul></ul></ul><ul><li>Robert Scoble </li></ul><ul><ul><ul><li>http://scobleizer.com/ </li></ul></ul></ul><ul><li>CNET News </li></ul><ul><ul><ul><li>http://news.cnet.com/webware/ </li></ul></ul></ul><ul><li>David Pogue </li></ul><ul><ul><ul><li>http://pogue.blogs.nytimes.com/ </li></ul></ul></ul>
    46. 46. <ul><li>Articles, blog URLs, online resources </li></ul><ul><ul><li>Del.icio.us.com – cherylbella7 </li></ul></ul><ul><ul><ul><li>Look me up, become part of my network </li></ul></ul></ul>Presentation Resources
    47. 47. <ul><li>www.thefirmpr.com/resources </li></ul>Presentation Resources
    48. 48. Questions?

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