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Social Media Stories

draft presentation on the unique dynamics that characterize social media, distinct from communications or media themselves. thanks to michelle hamilton and rudi omeara for helping.

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THE COLLECTED STORIES OF


SOCIAL MEDIA
         b                b
             as told by

    S e t h J. G o l d s t e i n .
      CEO, SOCIALMEDIA.COM
Reality




          CHECK.
Are we talking about the next printing press or the next Web 2.0?
Social Media Stories
Social Media Stories
COMMUNICATIONS, MEDIA AND SOCIAL MEDIA OVER TIME




                                    b
                 2000                                                                                       b
                                 AIM/ICQ
                                                                                                    b
                                    b                                                                   Twitter
                                                                                       b Facebook b
                                   Email
                 1500
                                    b                                             b CraigsList b MySpace
                                                                                 eBay b Del.icio.us
COMMUNICATIONS




                                    Fax
                                    b                                                  Flickr
                 1000                                                    b
                                 Telephone
                                    b                                    AOL
                                                             b
                                 Telegraph              Printing Press
                 500
                                             b
                                        Stained Glass
                                                                     b                b                 b
                                                                                                                b
                                                                                                b
                                                                               b
                                                                 Newspapers          Radio          Cable
                             b
                  0
                                                                          Magazines                         Google
                                                                                             Television
                        Cave Drawings


                             0                 500                1000                 1500                     2000
                                                                             MEDIA

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Social Media Stories

  • 1. THE COLLECTED STORIES OF SOCIAL MEDIA b b as told by S e t h J. G o l d s t e i n . CEO, SOCIALMEDIA.COM
  • 2. Reality CHECK.
  • 3. Are we talking about the next printing press or the next Web 2.0?
  • 6. COMMUNICATIONS, MEDIA AND SOCIAL MEDIA OVER TIME b 2000 b AIM/ICQ b b Twitter b Facebook b Email 1500 b b CraigsList b MySpace eBay b Del.icio.us COMMUNICATIONS Fax b Flickr 1000 b Telephone b AOL b Telegraph Printing Press 500 b Stained Glass b b b b b b Newspapers Radio Cable b 0 Magazines Google Television Cave Drawings 0 500 1000 1500 2000 MEDIA
  • 7. KEY insights:
  • 8. fig. 41.38.6 Learn to Let Go [ or the hows and whys of letting your brand get away from you ]
  • 9. (ergo:) “In videos posted on YouTube and elsewhere this week, a Domino’s employee in Conover, N.C. prepared sandwiches for delivery while putting cheese up his nose, nasal mucus on the sandwiches.quot; NEW YORK TIMES, APRIL 16 2009
  • 10. A pretty take BIG Time TO chance. (Then, repeat.)
  • 11. (ergo:) “Brands are now becoming conversation factors where academics, celebrities, experts and key opinion formers discuss functional, emotional and, more interestingly, social concerns.quot; SIMON CLIFT, UNILEVER
  • 12. fig. 41.38.6 (cont.) 1: Most companies are scared to use social media because they fear losing control of their brand 11: And yet consumers become more invested in brands that reward their participation.
  • 13. fig. 38.21.7 Be Sensible [ from Buffet and Munger to Newmark and Buckmaster ]
  • 14. COMPASS MENTAL a handy. Keep
  • 15. (ergo:) The management philosophy of Jim Buckmaster, CEO of Craig’s List • Listen to what users want. Try to make the site faster and better. • Hire good people. • No meetings, ever. quot;I find them stupefying and useless.quot; • No management programmes and no MBAs. • Forget the figures. • Occasionally, give people quot;a very gentle nudgequot;. This can be done over lunch or on the instant messaging boards. • He doesn't reply to any of his 100 daily messages, most of which beg Craigslist to do a deal. quot;I'm not real chatty on e-mail.quot; • Put speed over perfection: quot;Get something out there. Do it, even if it isn't perfect.quot;
  • 16. fig. 8.47.12.3 Stand Roughly There [ or how the perfect is the enemy of the good ]
  • 17. (ergo:) “If you are not embarrassed by what you are releasing, you are taking too long.” REID HOFFMAN, LINKEDIN
  • 18. getting fancy ALL ABOUT NOT things Sometimes WORKS. (Chillax.)
  • 19. fig. 8.47.12.3 (cont.) 1: Why is it that services which seem perpetually “unfinished” are those that usully last the longest? 11: For the same reason that an accurate picture of a fast moving car needs to be blurry not sharp.
  • 20. fig. 87.13.22 Plan Your Escape [ in other words: how to build it, and then get out of the way ]
  • 21. (ergo:) “The key is recognizing that no matter how convinced you are in the power of your own ideas. Sometimes, ideas have ideas of their own. That's certainly true in terms of system design. I made the system self-sustaining for one reason: Back when I launched eBay on Labor Day 1995, eBay wasn't my business—it was my hobby. I had to build a system that was self-sustaining. Because I had a real job to go to every morning. I was working as a software engineer from 10 to 7, and I wanted to have a life on the weekends. So I built a system that could keep working—catching complaints and capturing feedback. If I had had a blank check from a big VC, and a big staff running around—things might have gone much worse. I would have probably put together a very complex, elaborate system—something that justified all the investment. But because I had to operate on a tight budget— tight in terms of money and tight in terms of time—necessity focused me on simplicity: So I built a system simple enough to sustain itself.” PIERRE OMIDYAR, EBAY FOUNDER Tufts Commencement Address, June 2002
  • 22. then out OF Build GET IT town. (It’ll do you good.)
  • 23. fig. 87.13.22 (cont.) 1: The art of Social Media is to provide the lightest weight social context for exchanging information. 11: It’s like hosting a cocktail party where you need to keep lots of conversations going on at the same time without getting stuck in any one of them.
  • 24. fig. 8.47.12.3 Open the Switchboard [ or why lots of little conversations are better than one big speech ]
  • 25. (ergo:) “Utility doesn’t have to be this big thing. It can take place in smaller, more frequent interactions” MARK ZUCKERBERG, FACEBOOK
  • 26. NIMBLE and easier SMALL to ESCAPE. (It’s not very becoming.)
  • 27. fig. 22.5.9 (cont.) 1: Conventional media wisdom is to tell a great big story to as many people as possible 11: Social Media is all about enabling lots of little stories to be created by lots of different people at the same time
  • 28. fig. 22.5.9 Avoid (Excessive) Verbosity [ or why only 140 characters actually works ]
  • 29. (ergo:) quot;Creativity comes from constraint.quot; BIZ STONE, TWITTER
  • 30. KEEP and IT Keep your brief audience. (They’re already listening, anyway.)
  • 31. fig. 22.5.9 (cont.) 1: We assume that engagement scales with bandwidth 11: But low bandwidth social interactions seem to resonate stronger than high bandwidth multimedia experiences.
  • 33. (in other words:) “We’re getting paid to present you with the opportunity to interact with a product socially. And, if you choose to do so and we can display this interaction to your friends, then we’ve done half our job. The other half is ensuring that the social experience was well received by you and your friends. It’s a different type of adverting that pulls from the core of the social graph in a distributed manner that is neither invasive nor annoying.” DAVE GENTZEL, SOCIALMEDIA.COM
  • 34. GET OUT.
  • 35. fig. 22.5.9 (cont.) 1: Internet advertising is typically a message from a company that attempts to distract a user from what he is doing in order to get him to click on a link to an advertiser web site. 11: Social advertising is typically a message from a person who has been prompted by a company to say something. It promotes brand equity without requiring the user clicking away.
  • 36. fig. 14.26.3 Measure Your Influence [ basically, how to manage the ratio of information to attention ]
  • 37. (ergo:) “influence = how likely people are to do what you say, given who you are, not what you say.” JOSH REICH
  • 38. REMEMBER Nobody LIKES a SHOWOFF. (I mean, really.)
  • 39. fig. 14.26.3 (cont.) 1: Influence = Attention / Information = ratio of attention one gets to information one produces 11: The popular person who says little (i.e. the Pope or Ben Bernanke) is usually more influential than the popular person who says a lot (i.e. Robert Scoble or Jason Calacanis).