Social Media Business Stories


Published on

Social media business stories is about some interesting case studies and how one can gain market share and mind space by leveraging this powerful yet new media.

Published in: Business

Social Media Business Stories

  1. 1. Social Media Business Stories<br />Tallada Kishore<br />
  2. 2. What’s in Store?<br /><ul><li>Social Media…!? </li></ul>How Big Is It?<br />What They Are Talking About?<br />Can Social Media Influence Us?<br /><ul><li>Business Stories</li></ul>Why We Love 140 characters?<br />Is it for Teens?<br />Watching funny cat videos?<br />Is it waste of time?<br />Can You Trust Crowd Wisdom?<br />Other than Job networking?<br />Will They Pay Returns? <br /><ul><li>Then, What Happened Next?</li></li></ul><li>Social Media..!?<br />SOCIAL<br />
  3. 3. How Big Is It?<br /> The average number of Tweets per hour was around 1.3m<br /> Every minute – 20 Hrs worth of new video uploaded<br /> Facebook at 500m. The World's Third-Largest Nation<br />This year alone, there will be 1,200 exabytes (1015) of data generated, with 80% of this information coming from social media sources <br />Flickr now hosts more than 4 billion images<br /> 70% of bloggers are talking about brands on their blog<br />80% Top 500 companies use LinkedIn for recruitments<br />
  4. 4. What They Are Talking About?<br />Social media is a conversation online<br />
  5. 5. Can Social Media Influence Us?<br />91% say consumer reviews are the #1 aid to buying decisions - JC Williams Group<br /><ul><li>3 times more likely to trust peer opinions over advertising for purchasing decisions - Jupiter Research
  6. 6. 1 word-of-mouth conversationhas impact of 200 TV ads - BuzzAgent
  7. 7. 87%trust a friend’s recommendationover critic’s review - Marketing Sherpa</li></li></ul><li>Social Media<br />Business Stories<br />
  8. 8. Why We Love 140 Characters?<br />Dell reported that offers from its Dell Outlet Twitter account has booked more than $3 million in revenue attributable to its Twitter posts<br />
  9. 9. Why We Love 140 Characters?<br />Tweets<br />Additional Visits<br />Incremental Sales<br />
  10. 10. Is It For Teens?<br /><ul><li>More than 1.5m local businesses have active pages on Facebook.
  11. 11. More than 80,000 websites have implemented Facebook Connect since December 2008 and more than 60m Facebook users engage with it across these external sites each month. </li></li></ul><li>Watching Funny Cat Videos?<br />BlendTech-Will It Blend?<br />Demonstrate the power and durability of the Blendtec blender.<br />Videos showing blending of things from iPhones to Golf balls.<br />Result: Phenomenal success. 117,105,290 views on YouTube. <br /> Retail sales up by 700%<br />It shows what a few minutes film on Social Media can do for a company<br />
  12. 12. Watching Funny Cat Videos?<br />BMW (over 7 million views)<br />Launch of BMW 135i 1 Series cars onto US<br />Burger King (100,000 views)<br />Promote new recipe ‘TenderCrisp’ sandwich<br />Unilever (700,000 views)<br />Promote SunSilk brand of Hair care products<br />California Milk Processor Board (Over 1m)<br />Encourage the consumption of milk<br />
  13. 13. Is it Waste of Time?<br /><br />SeaWorldis a typical theme park <br />Launched a new signature attraction Manta<br />Selected 6 influential and relevant bloggers<br />Gave special permissions, invited to experience SeaWorld<br /><br /><br /><br /><br /><br />Result of 6 Blogs 21 posts:<br /><ul><li>1635 total comments over all posts
  14. 14. Online alone promoted 40% of all visitors
  15. 15. This online group alone generated $2.6m in revenue</li></li></ul><li>Is it Waste of Time?<br />GM’s blog Fastlane<br /><ul><li>Launched in Oct 2004
  16. 16. Unprecedented response
  17. 17. Attracted millions of visitors</li></ul> (7,500 unique visitors a day )<br /><ul><li>An average of 70 comments per post
  18. 18. 500+ other blogs linked</li></ul>Forrester compared the results of GM’s Fastlane blog to those of running a focus group to gain equivalent customer insight on products and brands, and since a focus group costs about $15,000 a month or $180,000 a year, GM has achieved similar results through it’s blog, and saved itself $180,000 in cash per year<br />
  19. 19. Can You Trust Crowd Wisdom?<br /><br /><ul><li>Launched in Mar 2008
  20. 20. 75,000 ideas submitted in less than six months
  21. 21. 150,000+ ideas till date
  22. 22. Many ideas received thousands of comments and hundreds of votes
  23. 23. 50+ ideas are in action</li></li></ul><li>Can You Trust Crowd Wisdom?<br /> <br />IdeaExchange<br /><ul><li>Launched in May 2006
  24. 24. 2,260 ideas
  25. 25. 34,000 votes
  26. 26. 5,300 comments</li></ul>Dell:<br /><ul><li>Launched in Feb 2007
  27. 27. 14,400 ideas
  28. 28. 727,000 votes
  29. 29. 90,000 comments
  30. 30. Implemented  417 ideas</li></li></ul><li>Other Than Job Networking?<br />Other than saving millions, while finding uniquely-skilled candidates following are salient benefits from LinkedIn<br /><ul><li>Market research
  31. 31. Demonstrate thought leadership and expertise
  32. 32. Attract users to events
  33. 33. Win new leads</li></li></ul><li>Will They Pay Returns?<br />Text Ads - PPC<br />Skyscrapers<br /><ul><li>Social Media up 230% Since 2007
  34. 34. 43% are visiting Social media sites more </li></ul>than once a day<br /><ul><li>Social Media budgets are multiplying. </li></ul> social media budgets occupied 10% total <br /> marketing spend for the year 2010 <br /><ul><li>Over the next five years, social media </li></ul> budgets will swell to 17.7% of the total <br /> marketing spend<br /><ul><li>B2B social media marketing spending will </li></ul>grow from $11m in 2009 to $54m in 2014<br />Box Ads<br />Banner Ads<br />
  35. 35. Then, What Happened Next?<br />Social media is a conversation online<br />How to measure conversations?<br />What conversation are? <br />to<br />Listening and Analysing Platforms will evolve<br />Ex: Semantic Analysis / Sentiment Analysis<br />Markets lose control over Ownership; <br /> Social share will gain acceptance<br />Most of the digital content will be free<br />Monetization is a possible worry (may not be for all) <br />but every large and engaged audience platform will attract money <br />Social Media ROI will be cracked very soon…!!<br />Web OS(Operating System)<br />Web -> Social Web -> Semantic Web -> Web OS<br />
  36. 36. Do You Have Any Questions?<br />TalladaKishore_at_aol_dot_com<br />