European Communication School: Social media session 1

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Presentation from the first social media session given to students at the European Communication School, London October 22, 2012

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    Victoria ECS London - LCC
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  • Five major differences – first social media is not a commodity.It seems there is now an article of faith – what I call the blessed trinity of media
  • Creating necessary scale effects when only dealing with small groups – what it is all about. Could talk for ages about that, but don’t have time. Suffice to say that companies basically doing one of two things – either trying, and failing, to Do viral or talking to small groups of people but about the wrong thing – but think that because they are doing it in Facebook that is OK
  • Who here isn’t on Facebook?Pick on someone – describe how they use itKey issues:Who are the people you have most interaction withDo you know them all anyway – do you have much contact with people you meet ‘in’ social mediaAre there people you have contact with in Facebook, that you don’t meet with frequentlyHow many of your Facebook friends have you never metHow do you deal with news feed pollution?What about privacy – do you understand the privacy setting, do you use them?Do you know about EdgeRank? Are you happy for Facebook to do this?What about brands / organisations?What do you think about ‘liking’What sort of contact do you have with brands?What about advertising? Can you remember ever having clicked through to an ad?What are you more likely to respond to – and ad, a like, or a post?
  • Why do you “like” brandsDo you mind having their stuff in your news feed?Why is a Facebook page better than a web page?How should a brand use Facebook?How much of your Facebook time is concerned with interaction with brands?Why do you think brands are so obsessed with Facebook?
  • What do you feel about the brand FacebookDo you like it as an organisation?Do you trust it
  • Where sitThe privacy issue – Facebook share everythingSuppose another Facebook comes along which doesn’t share data?Would you be prepared to pay for Facebook?Would you be prepared to pay for a Facebook which didn’t share your data?(Attachment to the function of social networking rather than the brand of Facebook)
  • What an investor is prepared to pay for $1 worth of earnings
  • European Communication School: Social media session 1

    1. 1. Course overview1. To recognise that there are different perspectives2. To put social media in its historical context3. To understand the difference between traditional and social4. To learn how to operate in social space5. Understanding ‘social citizens’6. Trust and conflict7. The future of traditional media?8. Applying the knowledge
    2. 2. Session 1What is the point of Facebook?
    3. 3. The aim of this session • To understand the two perspectives on social media – Users perspective – The Wall Street perspective • To expose the commercial agenda and established interests behind what we are told is “social media” • To start to understand the “social media revolution”
    4. 4. Conclusion• A huge amount of bullshit being talked about social media – By people who don’t really understand it – By people who claim to have a solution – By traditional media who want to kill it – By the owners of social media properties themselves• There are very powerful vested interests who are trying to shape the space and control the way individuals use it• We are at a defining moment – not just in marketing but in society
    5. 5. My view of social media
    6. 6. Gartner Hype Cycle
    7. 7. Gartner Hype Cycle False Arrival of Productive EngagementEngagement Intelligence
    8. 8. An example of engagement
    9. 9. 15/##
    10. 10. 16/##
    11. 11. Its differentTraditional media Social media
    12. 12. Trying to make the Using an approachnew space work to that is adapted to the old rules the new space
    13. 13. What a marketing director wants to be told about social media• It is all pretty straightforward• It is just a new channel or form of media• We can take our current approach and adapt it to work in this space• We can outsource most of it to an agency• We can do a deal with Facebook, they say they will take care of everything
    14. 14. What a marketing director does not want to be told about social media• Basically everything you know about marketing won’t apply in this new space• You are going to have to start from scratch with a whole new approach• There are probably other people in the organisation better placed than you to deal with it
    15. 15. Social media doesn’t do big numbers It does small groups
    16. 16. Possible solutionsDevise ways to add Create new scale to social approaches that media don’t rely on scale
    17. 17. To summarise• Very few organisations understand how to use social media• This is because: – They don’t want to understand it – There is a huge commercial vested interest designed to position social media as “just another channel you can use to reach consumers”• Know one is really paying attention to how consumers are actually using social media
    18. 18. How do you use Facebook?
    19. 19. How should a brand use Facebook?
    20. 20. How do you feel about Facebook?
    21. 21. Where do you place Facebook? High importanceMobile network Your brand provider X X of phone Low Highengagement engagement Brand of Your choice toothpaste X X of drink Low importance
    22. 22. How do you feel about Facebook? High importance Low Google Highrespect respect Apple Facebook Low importance
    23. 23. What is Facebook worth? Price / Earnings ratio (2013 estimated)Facebook 40 xGoogle 12 xApple 10 x
    24. 24. Why the sky-high valuation?950 millionusers
    25. 25. Key questions• Is Facebook a form of media?• How effective is it as an advertising platform?• How valuable is its Big Data?
    26. 26. What is Facebook really worth 14000 12000 10000 8000 Series1 6000 4000 2000 0 What is costs to deliver A What it costs to deliver Facebooks revenue Revenue expectation Facebook The Facebook (@40x multiple)
    27. 27. Will Facebook be around in 2020?
    28. 28. How do you use Twitter?
    29. 29. How should a brand use Twitter?
    30. 30. Defining the battle lines• Corporations and institutions who want social media to work like traditional media (to create money or to preserve a vested interest)• Citizens or consumers using social media to create communities and empower themselves
    31. 31. Wall Street unrest
    32. 32. Social media ‘doesn’t work’
    33. 33. What comes next?Wave Buzz ?
    34. 34. Privacy as USP
    35. 35. Consumer spring
    36. 36. Conclusion• A huge amount of bullshit being talked about social media – By people who don’t really understand it – By people who claim to have a solution – By traditional media who want to kill it – By the owners of social media properties themselves• There are very powerful vested interests who are trying to shape the space and control the way individuals use it• We are at a defining moment – not just in marketing but in society

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