“Social media is online content created by people using highly accessible and scalable publishingtechnologies. At its most basic sense, social media is a shift in how people discover, read andshare news, information and content. Its a fusion of sociology and technology, transformingmonologues (one to many) into dialogues (many to many) and is the democratization ofinformation, transforming people from content readers into publishers. Social media has becomeextremely popular because it allows people to connect in the online world to form relationshipsfor personal, political and business use. Businesses also refer to social media as “user-generatedcontent (UGC) or “consumer-generated media (CGM). “ ~ Wikipedia -09 ~ Social media is commonly know as being a part of the “Web 2.0” evolution
Social media is very distinct from traditional media (mainstream media); ◦ Industrial media - Newspapers, TV, Radio and film. Can also be referred to as; “traditional”, “broadcast” or “mass” media ◦ Social media - is relatively inexpensive and it allows anyone to publish or access information. Social media has exploded the past couple of years, and can be used in many different ways such as; ◦ Brand management - what the perception of ones brand is ◦ Product/market research - what is the consumer looking for ◦ Sales lead generation - Meltwater use is this way ◦ HR – see what employees and prospective employees think about the company ◦ Customer relations – respond directly to customer complaints ◦ Competitive information – what are people saying about the competition
Social media changes the way brands and consumers interact. Believing what or how a company describes their reputation doesnt count for much anymore.. People wait for positive reviews, increase in members, for another group of people to agree the brand is the best.
Online software platform which Monitors:- 200+ million blogs- All social networks (facebook, linkedin, myspace etc.)- Microblogs (twitter)- Forums/message boards- Video/photo sharing sites (youtube, flickr, Blinkx etc.)- Basically every online site where people can post a comment/opinion- Utilises a highly advanced database which stores postings and massive amounts of Meta-data back to end of 2007.
monitor what people say about your brand, products, departments, competitors, even clients brands monitor what people say about your clients competing brands monitor generic areas such as health, food, IT in general etc. identify trendsetters within each area actively engage the right domains/people online receive an alert if something unordinary happens online like a big increase in postings etc identify themes going on in regards to yours or your clients brands gain insight into the mind/opinion of the consumer receive daily reports with a summary of you social media postings different profiles for each product/brand/department/competitor/client
Customer Support Public Relations Crisis Management Measure Marketing Effectiveness Future Strategy Consumer Insight Build on Customer Relations Look at volume of discussions Search and Build Brand Ambassadors Understand Influence & Prominence Look at discussions in different countries Search Engine Optimization
Kryptonite Bike Locks“A 50-year-old lock design was rendereduseless last week when a brief post to aninternet forum revealed the lock can bepopped open with a cheap plastic pen”Wired Magazine 2009
McDonaldsYouTube Video Posted 7 Days later it hit local news 3days later it hit mainstream If they had M|Buzz they could have: •Identified the video within hours •Contacted the video owner •Seeked legal advice •Proactively tidied up the mess •Engaged their existing Crisis Comms team •Actually fix the problem
Monitoring the social media is extremely important. "Those brands that were the most engaged (in social media) saw their revenue grow over the past year by 18% while the least engaged brands saw losses of negative 6%. http://om.ly/?BFdJ Their are multiple commercial benefits to monitoring the social media. It reduces Corporate risk. “Social media has simplified the art of the soapbox shout. Information is shared with the masses now using easy-to-use Web 2.0 tools and is recorded and cached for infinity. A shout out loud in social media has no geographic boundaries and is not time-limited. These two points make the non-stop monitoring of social media an important to-do for any brand owner. And monitoring social media does not just mean blogs. It should include video and image sharing sites and microblogging sites like Twitter, along with opinion and discussion forums.” Posted by Lee Odden on May 8th, 2008 in Interactive Marketing, Online Marketing, Social Media, Web Analytics
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