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Social networks in the media, the strategic imperative

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10 – 12 October 2011, Vienna, Reed Messe Wien Media Port Session: Innovative Advertising Title: Social networks in the media, the strategic imperative Speaker: Benjamin Ruschin MSc, Digital Head and Board Member, straberger conversations gmbh, Austria
social networks in the media industry the strategic imperative Benjamin Ruschin | Digital Head ruschin@conversations.at | www.conversations.at 1 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
agenda •  the emerging opportunity •  the status quo •  best practice case study •  the strategic imperative 2 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
the emerging business opportunity 3 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
the emerging business opportunity what are the key challenges confronting media providers? 4 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
key challenges •  competing for users‘ time Source: Nielsen, NetView, June 2011 Germany  facebook users (25 million uniques!) spend an average of 5 hours/week on facebook 5 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
key challenges •  competing for users‘ time •  unpredictability & constant change •  lack of proven best practices •  difficult to set a strategic direction –  Sales? Paid content? Ads? Profits? Business model?   how do we deal with this? 6 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
how are news media providers approaching social? operational level 7 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
operational level •  social distribution •  social customer relationship management •  social commerce 8 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
social distribution •  social content posts 9 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
social distribution •  social plugins 10 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
social customer relationship management •  social interaction with customers 11 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
social customer relationship management •  open graph interface 12 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
social commerce •  selling paid content via facebook (apps) 13 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
social commerce •  selling paid content via facebook 14 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
how should news media providers approach social? strategic level 15 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
best practice case study •  “social media for print“ project driven by top level •  strategic in-house driver “media innovation lab“ •  corporate budget to explore social networks •  goal: find viable social business models for print media –  build sustainable customer relationship through dialog –  strengthen each brand individually •  individual goals/KPIs for each brand (contextual) •  accountability: each brand has a social champion responsible for reaching pre-defined KPIs 16 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
best practice case study •  knowledge transfer: knowledge gained by each magazine/newspaper is crowdsourced and transfered –  monthly “social media meet-up“ => champions get together –  knowledge formalized => handbooks & training •  attempt to build a core competence in the social domain by learning & institutionalizing the knowledge •  exploration: mindset geared towards experimenting rather than generating immediate ROI •  assessment: milestones & KPIs (not financial goals) •  time horizon: long-term (not short-term) 17 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
best practice case study examples 18 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
best practice case study examples campaign • facebook campaign: searching for the may covermodel (facebook app) results • >8000 applicants • >34000 voters participated • fostered engagement & participation • strengthened customer relationships 19 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
best practice case study examples 20 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
best practice case study examples campaign • royal wedding: facebook & twitter campaign – regular updates posted results • print sales 51% above the average (highest sales since 2003) • web traffic from facebook & twitter increased seven-fold! 21 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
the strategic imperative •  put social on the top-level agenda (CEO‘s back-up) •  financial resources: designated budget for social (corporate innovation fund) •  people: carefully selected champions & innovators •  time horizon: long-term (not short-term) •  activities: exploratory (not revenue-generating) •  assessment: milestones (vs. short-term ROI) •  goals: find viable business models within timeframe (strategic business building) 22 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
the strategic imperative •  knowledge: crowdsource, transfer, institutionalize •  leverage systemic processes for innovation –  separate business unit (structural ambidexterity) –  contextual ambidexterity (80:20 rule) –  cross-functional groups / communities of practice   top-management commitment   business models tailored to each brand   focus on creating the required PRE-CONDITIONS 23 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
thanks for your attention get in touch! Benjamin Ruschin | Digital Head ruschin@conversations.at | www.conversations.at 24 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA

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Social networks in the media, the strategic imperative

  • 1. 10 – 12 October 2011, Vienna, Reed Messe Wien Media Port Session: Innovative Advertising Title: Social networks in the media, the strategic imperative Speaker: Benjamin Ruschin MSc, Digital Head and Board Member, straberger conversations gmbh, Austria
  • 2. social networks in the media industry the strategic imperative Benjamin Ruschin | Digital Head ruschin@conversations.at | www.conversations.at 1 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 3. agenda •  the emerging opportunity •  the status quo •  best practice case study •  the strategic imperative 2 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 4. the emerging business opportunity 3 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 5. the emerging business opportunity what are the key challenges confronting media providers? 4 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 6. key challenges •  competing for users‘ time Source: Nielsen, NetView, June 2011 Germany  facebook users (25 million uniques!) spend an average of 5 hours/week on facebook 5 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 7. key challenges •  competing for users‘ time •  unpredictability & constant change •  lack of proven best practices •  difficult to set a strategic direction –  Sales? Paid content? Ads? Profits? Business model?   how do we deal with this? 6 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 8. how are news media providers approaching social? operational level 7 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 9. operational level •  social distribution •  social customer relationship management •  social commerce 8 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 10. social distribution •  social content posts 9 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 11. social distribution •  social plugins 10 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 12. social customer relationship management •  social interaction with customers 11 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 13. social customer relationship management •  open graph interface 12 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 14. social commerce •  selling paid content via facebook (apps) 13 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 15. social commerce •  selling paid content via facebook 14 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 16. how should news media providers approach social? strategic level 15 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 17. best practice case study •  “social media for print“ project driven by top level •  strategic in-house driver “media innovation lab“ •  corporate budget to explore social networks •  goal: find viable social business models for print media –  build sustainable customer relationship through dialog –  strengthen each brand individually •  individual goals/KPIs for each brand (contextual) •  accountability: each brand has a social champion responsible for reaching pre-defined KPIs 16 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 18. best practice case study •  knowledge transfer: knowledge gained by each magazine/newspaper is crowdsourced and transfered –  monthly “social media meet-up“ => champions get together –  knowledge formalized => handbooks & training •  attempt to build a core competence in the social domain by learning & institutionalizing the knowledge •  exploration: mindset geared towards experimenting rather than generating immediate ROI •  assessment: milestones & KPIs (not financial goals) •  time horizon: long-term (not short-term) 17 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 19. best practice case study examples 18 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 20. best practice case study examples campaign • facebook campaign: searching for the may covermodel (facebook app) results • >8000 applicants • >34000 voters participated • fostered engagement & participation • strengthened customer relationships 19 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 21. best practice case study examples 20 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 22. best practice case study examples campaign • royal wedding: facebook & twitter campaign – regular updates posted results • print sales 51% above the average (highest sales since 2003) • web traffic from facebook & twitter increased seven-fold! 21 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 23. the strategic imperative •  put social on the top-level agenda (CEO‘s back-up) •  financial resources: designated budget for social (corporate innovation fund) •  people: carefully selected champions & innovators •  time horizon: long-term (not short-term) •  activities: exploratory (not revenue-generating) •  assessment: milestones (vs. short-term ROI) •  goals: find viable business models within timeframe (strategic business building) 22 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 24. the strategic imperative •  knowledge: crowdsource, transfer, institutionalize •  leverage systemic processes for innovation –  separate business unit (structural ambidexterity) –  contextual ambidexterity (80:20 rule) –  cross-functional groups / communities of practice   top-management commitment   business models tailored to each brand   focus on creating the required PRE-CONDITIONS 23 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA
  • 25. thanks for your attention get in touch! Benjamin Ruschin | Digital Head ruschin@conversations.at | www.conversations.at 24 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA