Social Media: It's about time.

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Introduction to social media presented to "Advertising & the Internet" class at Rutgers Business School in the MBA program.

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  • People. Figuring out who can do this for you can be both confusing and daunting. Knowledge. This stuff changes all the time. You just learned Facebook and then Twitter came along. Now there is Foursquare and Groupon. What's next? How can anyone keep up with it and know which new tool is right for them? Culture. Is your company even open to the transparency, honesty, and sharing components that are core to social media? Budget. What should this cost? Where am I going to get the money?
  • Social Media: It's about time.

    1. 1. Social Media <br />It’s about time.<br />Hannah Redmond<br />Rutgers Business School – Newark and New Brunswick<br />February 2011<br />
    2. 2. Social Media: It’s about time.<br />New Media<br />Social Media is the new WOM<br />5 business areas affected<br />Overview: 5 strategic elements of SM<br />Measurement<br />Ethics<br />Challenges in Implementation<br />Q&A<br />
    3. 3. New Media<br />
    4. 4. New Media<br />Social Media = Consumer Generated Media <br />New way of building relationships<br />New way of managing your brand<br />Get on board! People are using social media and talking about your brand with or without you<br />
    5. 5. The new WOM<br />Word of Mouth has changed<br />The new water-cooler conversation<br />News finds us<br /><ul><li>Video: Social Media Revolution </li></li></ul><li>How does business benefit?<br />When you properly embrace social media, it acts as a decision engine<br />78% of people trust online reviews before buying a product*<br />What happens when you read a great review?<br />What happens when a friend, someone we trust, shares passion for a product?<br />5 Main Ways<br />*Nielson survey 2010<br />
    6. 6. How does business benefit?<br />5 main areas business benefits:<br />1. Marketing<br />2. Customer Service<br />3. Communications/Public Relations <br />4. Market Research<br />5. Recruitment<br />
    7. 7. Marketing<br />Search Engine Optimization<br />Engagement<br />FREE to find niche communities <br />FREE to find new opportunities and markets<br />
    8. 8. Customer Service<br />96% of dissatisfied customers don’t complain. Of those, 63% won’t buy from you again.*<br />Be authentic <br />Be transparent and honest<br />* Strategic Planning Institute, 2010<br />
    9. 9. Communications/PR<br />SM provides more ways than ever to communicate a message<br />Reach more audiences<br />Encourages 2-way communication<br />Mix of proactive + reactive communication<br />Immediate response to a crisis<br />
    10. 10. Market Research<br />Problems in the market are now easier to find.<br />More time can now be focused on finding solutions than finding the problem.<br />SM stats provide insight on hot topics:<br />Trending topics<br />Search items<br />Top tweets<br />Traffic drivers<br />
    11. 11. Recruitment<br />For the job poster<br />80% % of recruiters use social media to recruit, 95% of them use LinkedIn <br />For the job seeker<br />First impressions are no longer in interviews<br />Make your personal profiles private<br />Optimize your online presence<br />Resumes are going social<br />
    12. 12. 5 Strategic Elements of SM <br />Sliding Scale:<br />New Media vs. Traditional Media<br />Mega Spaces vs. Niche Spaces online<br />User-generated Content vs. Content Generated for the User<br />One-way Communication vs. Two-Way Communication<br />Mobile vs. Non-mobile<br />
    13. 13. Measurement<br />Traffic to site<br />Media mentions<br />Sales<br />Trending topics<br />& more…<br />Example: Old Spice<br />2700% increase in Twitter followers<br />800% increase in Facebook fan page visits and <br />300% increase in traffic to the brand website<br />sales of its Body Wash more than doubled<br />
    14. 14. Ethics<br />Online it is easy to deceive consumers<br />Being transparent, open, and honest is key<br />WOMMA (www.womma.org)<br />Not only is unethical, but can create a PR crisis<br />Example: Edelman/Walmart<br />
    15. 15. Challenges in implementation<br />People<br />Knowledge<br />Culture<br />Budget<br />‘Social Media Now,’ Larry Weintraub<br />
    16. 16. Conclusion<br />It’s time to embrace new and social media<br />Knowing how to use SM for business makes you more marketable<br />Jump in! Blog, tweet, join communities<br />Find YOUR niche, build YOUR brand<br />
    17. 17. Contact & helpful links<br />Hannah Redmond<br />hbredmond@gmail.com<br />@Hannah_Redmond<br />www.createrinserepeat.com<br />www.linkedin.com/in/hannahredmond<br />Blogs/Websites I follow:<br />www.mashable.com<br />www.digitallyapproved.com<br />www.socialnomics.netwww.larrywblog.com<br />Twitter accounts I follow:<br />@mashable<br />@fanscape<br />@justindigital<br />@scottmonty<br />

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