The future of social media is social business
By Ha Vo
September 21st 2010
My journey towards social business
Social business demos, please do interact!
Food for thought
I will be listening on Twitter
My goal today
Is to show you our vision of social business, the
future of social media.
To inspire you to use social media more conscious
to improve your relations with your customers,
partners, employees and friends in order to achieve
better results via their networks.
To trigger you to think more creative about how to
provide more relevant and better service to your
customers and their network, while being conscious
about the potential word-of-mouth of every
Why am I standing here?
MY JOURNEY TOWARDS
Triggered by the power of word-of-mouth
78% of 26,486 say consumer recommendations are the most
credible form of advertising (source: global Nielsen survey)
Online social network users were three times more likely to
trust their peers’ opinions over advertising when making
purchase decisions (source: JupiterResearch - March 2007)
64% of consumers reported wanting to see user ratings and
reviews (source: Forrester 2008)
82% of marketers agree that collaboration with customers
will prevail over marketing (source: 1to1 Media survey of the
1to1 Xchange panel - April 2008)
#1: Social Networks are the most popular sites for the
coveted 18-24 year old age group. That‟s right, social networks
beat search engines, web based email and most surprisingly
porn (source:Time 2008)
Some of my thoughts and visions
The essence of social media is to be social
The future of social media is social business in
social comfort zones
Will Facebook be bigger than Google by 2013?
Can a cool search mashup be more valuable than
Will my children microblog to about their health, to
pay less for their insurance while get better
I appreciate direct feedback
Who did NOT like my presentation?
Who has NOT been inspired by the demos?
Who would NOT advise my presentation to your
To consider social business
It‟s about building real relations, frequent and relevant
contact is essential.
Short term campaign thinking has no space here. Social
business is a program with longterm ROI.
Don’t talk about yourself, others will do that for you.
We just need to listen to them and provide them relevant
Don‟t just think „What‟s in it for you?‟ but also „What’s in
it for you and your friends?‟
Social media is a cheap and effective way to keep in
touch and to initiate word-of-mouth advertising.
ROI is also about interaction and inspiration
What is your viral ratio?
(Avg. # invitations per friend) * (conversion)
According to Seth Godin, >1.3 is good
Is there a group size that will grow itself?
According to Facebook for them it was „5‟
When does a group of friends grow themselves?
Viral ratio within group?
# views, likes, shares / user / period
# interactions / user / period