Mktg 7546 - Vince Carr

1. Managing Feedback in Social Media
Presented by
Vince Carr
Mktg 7546
Feb 14, 2012

2. Managing Feedback in Social Media
Overview
• Any company that strives to be successful must engage in
social media.
• Is setting up a Twitter, Facebook Page enough?
• What other steps might a business need to consider before
using social media
• How not to do it
• The Impact of business landscape, and how to be viable in the
future.

3. Managing Feedback in Social Media
Brief History
• Social Media has been around for over 30 years
• 1971 – First email was sent.
• 1978 – First browsers were created.
• 1994 – First social networking site created Geosites.
• 1997 – AOL – Instant Messaging
• 2002 – Friendster – online connection of real-world friends.
• 2003 – MySpace
• 2004 – Facebook is launched
• 2006 – Twitter is launched

4. Managing Feedback in Social Media
Impacts Occurring Due to Trend
• Some statistics on how social media impacts people’s
thinking:
• 70% of consumers consult review sites before a purchase.
• Traffic at top review sites has grown 158% in the last year.
• 51% of consumers use the internet as part of the decision
making process
• 34% of consumers have used social media to air their
feelings on a product.
• 26% express satisfaction while 23% expressed dissatisfaction.

5. Managing Feedback in Social Media
What Can be Done?
• Making Sense of Social Media by Erik Linask
• Phase One
• Three primary preliminary steps
• Need to know what is being said about the company
• Determine current perception of the company
• Building “awareness” of the company based on what is already
taking place.
• Phase Two
• Take information derived from phase I
• Use this information to make preliminary strategy
• Develop an action plan on how to handle feedback that is both
negative and positive as well as internal and external

6. Managing Feedback in Social Media
Interviewee
• Ron Pijut, owner of
• Pikes Peak Paradise in CO
• Five Bedroom B&B
• Small Business Owner since January 2007
• Has business website and Facebook page
• Linked to Travel Websites, such as TripAdvisor.Com
• Maintained “4-Star” rating until recently, dropped to
“2-Star”
• Difficult to Repair “4-Star Status
• Had no social media strategy

7. Managing Feedback in Social Media
How Business Landscape Impacts Trend
• Business and Social Media will become more involved
• Social Media will continue to change the way people buy
products and do business
• Businesses need to have a strategy in place to deals with the
merging of social media.
• Companies can grow with the ever changing environment.

8. Managing Feedback in Social Media
Consumer Segments Impacted
• All segments of consumers are
impacted
• Based on demographics, some
segments are more savvy than others.
• Consumers will used social media to
express their opinions of brands and
businesses
• Companies will use social media to
put the message out they want their
customers to hear.

9. Managing Feedback in Social Media
Potential Future Changes
• Data is gold
• Business need to pull collect data on various postings
• May need to purchase existing software to data mine for gold
• This data can be used to trend and research what consumers
are really saying
• Companies can adjust their social media strategy based on this
data

10. Managing Feedback in Social Media
What’s Needed to Maintain Advantage
• Business need to choose savvy
employees to manage the social
media.
• Having experts will be critical
• Having a set business strategy on
how to handle social media
• Being proactive versus reactive to
social media feedback is a must.

11. Managing Feedback in Social Media
Thank you!!!
I am now ready for you
questions!