Selling Social Media to the CEO
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1. Social media is moving from niche early adopters to mainstream use. 2. When social media is misused by "posers, miscreants, and felons" it can have negative consequences for companies and their brands. 3. CEOs are taking on new roles in directly engaging with customers and other stakeholders on social media, which allows for more authentic conversations but also requires careful management of their personal brands.
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Selling Social Media to the CEO
- 1. Make cool
- 2. Hello.
- 3. EXPLOSION OF SOCIAL MEDIA Source: “Adults and Social Network Websites,” January 2009; Pew Internet & American Life Project Social media is moving from the ‘digirati’ to the mainstream
- 4. WHEN SOCIAL MEDIA GOES BAD
- 5. WHEN SOCIAL MEDIA GOES BAD
- 8. THE FAKE STEVE JOBS “I thought, wouldn’t it be funny if a C.E.O. kept a blog that really told you what he thought? That was the gist of it.” Dan Lyons to New York Times, 8/6/07
- 11. The Penis Mightier than the Sword
- 12. The Mouseis Mightier than the Sword
- 13. The Tweetis Mightier than the Sword
- 14. “There is no future for vanilla for most companies in a flat world.” Thomas Friedman The World is Flat
- 15. 70% of Americans don’t believe “all or most” media reporting Source: Sacred Heart University, January 2008
- 16. Most CEOs are on the sidelines
- 18. The CEO’s Dilemma Does it produce ROI? Can it be measured? Can its influence be demonstrated? Can its power be demonstrated?
- 19. “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.” B.L. Ochman, BusinessWeek, February 2009
- 20. Your reasons for participating in social media
- 21. Authenticity
- 22. ONE CORPORATE VOICE: The “Push” by the brand is not enough Analysts Partners Customers Academia Your Brand
- 23. Customers have NO NEED to interact
- 24. THE AGE OF AUTHENTICITY: “Pull” by the community Employees Analysts Investors Customers Media Bloggers Partners Academia Phase 1: Listen Phase 2: Prepare Phase 3: Engage
- 25. Brand Reputation
- 26. How much does media coverage contribute to Brand Value?
- 27. Media prominence accounts for 27% of the difference in Brand Value among the 100 most valuable brands.
- 28. Cisco ASR 9000 Edge Router Juicy Fruit Gum
- 31. “There's only one medium where, theoretically, 2 million Americans could get up off their chairs one day and decide, ‘Damn it! I'm going to do it!’” Joe Trippi says. “The Internet.” From Joe Trippi's Killer App by Linda Tischler Fast Company, October 2003
- 32. “Other politicians I have met with are always impressed by the Web and surprised by what it could do, but their interest sort of ended in how much money you could raise. He was the first politician I dealt with who understood that the technology was a given and that it could be used in new ways.” Marc Andreessen Founder of Netscape
- 36. Measurement
- 37. Can you measure it? Focus on metrics that make sense for your goals Topics Web Analytics Audience Insights Relationships
- 41. THE POWER 50 INFLUENTIAL BLOGS
- 42. But Don’t Count Out ‘Traditional Media’
- 43. 1,236,184 602,057 474,527 326,805 296,890 235,066 200,834 158,682 144,609 130,396 129,674 82,306 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 The New York Times Engadget The Washington Post The Huffington Post CNN Reuters Los Angeles Times Time Chicago Tribune USA Today San Francisco Chronicle BusinessWeek Which Media Sources Do Blogs Trust?
- 44. Lessons Learned
- 45. CEOs no longer have complete control over their brand, image and reputation
- 46. CEOs MUST be aware of the conversations that are happening Listen Prepare Engage
- 47. CEOs MUST determine the business rationale and the return to the company
- 48. CEOs can’t stay on the sidelines.
Editor's Notes
- as much as social media and web 2.0.
- For lower-involvement brands (defined as products which are bought frequently and with a minimum of thought and effort), the correlation between ad spend and brand value is higher than the correlation between media prominence and brand value*. The reverse is true for higher-involvement brands (defined as products for which the buyer is prepared to spend considerable time and effort in searching and evaluating brands), where the correlation is much stronger between media prominence and brand value than ad spend and brand value*. For High-Involvement brands, media attention contributed to Brand Value more than advertising For complex products, such as technology products, the relationship becomes stronger: Likely reason: The more complex the product, the more likely that the buyer will research the product category, looking for trustworthy information The bottom line: 1) PR is a cost-effective marketing tool and delivers strong ROI; 2) A sizable amount of Brand Value is tied into media coverage; 3)Technology brands benefit more from PR than advertising.