Social Media - Why it matters for businesses & where it’s heading.

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A summary of what social media is, why it's important for businesses, and what trends are emerging. Created for business students of Oxford Brookes University by Marcus Taylor, founder of Venture Harbour.

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Social Media - Why it matters for businesses & where it’s heading.

  1. 1. SOCIAL MEDIAWhy it matters for businesses & where it’s heading. Marcus Taylor Ma Founder of Venture HarbourMarcus TaylorDirector of Venture Harbour
  2. 2. A Bit About Me • Passionate about the music industry & digital marketing. I got signed as a producer/DJ and managed a record label prior to working into digital marketing. • I run a digital marketing company in Brighton called Venture Harbour. Our clients are primarily brands in the music industry.@MarcusATaylor
  3. 3. What is social media?
  4. 4. “Social Media is like teen sex.Everyone wants to do it. Nobody knows how.When it’s finally done there is surprise it’s not better.”Avinash Kaushik, Analytics Evangelist, Google
  5. 5. Social media refer to the means of interactions amongstpeople in which they create, share, and exchange informationand ideas in virtual communities and networks.
  6. 6. A wordy way of saying it’s where zillions of conversations take place online.
  7. 7. Why is social mediaImportant for businesses?
  8. 8. 3 out of 4 Americans use social media
  9. 9. 2/3 of the World’s populationvisit social networks
  10. 10. Social Media has over taken porn As the #1 activity online
  11. 11. 96% Of millennials have joined a social network
  12. 12. Ultimately It’s where the eyeballs are…As of March 2013, Facebook reported 1.06 billion monthly active users
  13. 13. But it’s not like the Super Bowl. Social media isn’t just eyeballs stuck to a screen. It’s what those eyeballs do on social media that makes it important for businesses.
  14. 14. ThisHappens on an on an unimaginable scale. This happens conversations no longer have geographical boundaries.
  15. 15. Conversations are no longer between people you know
  16. 16. Conversations are no longer between small groups of people.
  17. 17. Businesses want their products &Services to be a part of these conversations
  18. 18. Awareness drives sales
  19. 19. But unlike billboards, radio, TV, andOther advertising channels that brandsare used to, social media is two-wayCommunication.
  20. 20. Social media hasMeant that brandsCan no longer dictateWhat we think of them.
  21. 21. They’re no longer the ones in control of their brand’s message. We are.
  22. 22. Social Media is democratising how we communicate - everyone now has a voice.“Technology is shifting power awayfrom the editors, the publishers, theestablishment, the media elite. Nowit’s the people who are in control”– Rupert Murdoch
  23. 23. Getting poor service used to meantelling our friends and family.
  24. 24. Now it’s far more serious.
  25. 25. Social media does not destroy brands.It just amplifies the sentiment that people already associate with a brand.
  26. 26. Businesses can’t fake it any more.
  27. 27. Because of this we’re moving away from: • Automated > Personalised • Profit > Customer Happiness • Faceless & unreachable • Reluctantly buying
  28. 28. And going back to this• The business knows our personal preferences• More interested in our satisfaction than profit• We know the staff by name & face• We enjoy the experience of buying from them
  29. 29. Emerging Trends in Social Media
  30. 30. Fundamental cultural shifts in what weconsider to be acceptable about privacy.
  31. 31. Social Augmented Reality
  32. 32. Digital Outdoor Media
  33. 33. Social / Knowledge Graph
  34. 34. ‘Mobilisation’ of everything
  35. 35. Increasing Visual Content Sharing
  36. 36. Social TV
  37. 37. THANK YOUMarcus@ventureharbour.com @MarcusATaylor

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