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Business of Social Media | Matthew Buckland the business of social media Matthew Buckland matthewbuckland.com GM: M&G Online Presented at the Gordon Institute of Business July 2008
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Business of Social Media | Matthew Buckland
the business of social mediaMatthew
Bucklandmatthewbuckland.com
GM: M&G Online
Presented at the Gordon Institute of Business
July 2008
Business of Social Media | Matthew Buckland
What’s the fuss?We’ve been networking for years
As old as humanity, itself
Business of Social Media | Matthew Buckland
...but onlineIt’s more efficient, cheaper, easier to create communities
Do it on a grand scale
Business of Social Media | Matthew Buckland
Business is about...Connecting people & ideas in the information economy
Business of Social Media | Matthew Buckland
It’s part of usNetworking is a biological urge. Our bodies work as networks.
Business of Social Media | Matthew Buckland
2 key motives for joining social network:
"I want to communicate better with the people that I already know and trust".
"I want to increase my visibility so that I can connect with more people".
Business of Social Media | Matthew Buckland
YOU!We are networkingRight now, right here in this room
Business of Social Media | Matthew Buckland
Take it further online?Extend life online?
Grow bigger?
Business of Social Media | Matthew Buckland
Types...of social networking & media with business application...can be external or internal
Some types...of social media with business application...can be externally or internally focused
Business of Social Media | Matthew Buckland
o “Blogs good for business”- Bill Gateso 5% of fortune 500 companies blog [1]o 34% large companies blogging [2]o Conversations betw readers & writers,
companies & customerso Attract community via what you writeo Direct customer service and comms:
CRM functiono Influence thinking about subjecto Position executive & company as
industry leaderso Policy, terms & conditions NB
TYPESCorporate bloggingNiche networksProfessional networks‘Social’ networksMicro-bloggingWikisIntranet 2.0
[1] Anderson C. and Mayfield R. Fortune 500 Business Blogging Wiki [Via wikipedia]
[2] JupiterResearch, (June 26, 2006) JupiterResearch [Via wikipedia]
Business of Social Media | Matthew Buckland
o EG: Specialised doctor’s social/business or media/journalist network
o Generalist networks can’t cater for specialist niche demands
o As a company you can create, invest in or join a relevant niche industry network
o Build relationship with potential business partners, clients, employees, even competitors
o Knowledge-sharing and good positioning
TYPESCorporate bloggingNiche networksProfessional networks‘Social’ networksMicro-bloggingWikisIntranet 2.0
Business of Social Media | Matthew Buckland
o Examples include Linkedin.com or Xing.com
o Entrepreneurs love theseo Used to headhunt, form relationshipso Can be used to market companyo Used by employees to build
relationships, but also find employment
TYPESCorporate bloggingNiche networksProfessional networks‘Social’ networksMicro-bloggingWikisIntranet 2.0
Business of Social Media | Matthew Buckland
o These include apps like Facebooko Fun & personal, but also business
applicationo Need to be subtle about business
activityo We recruit from private and business
networks, why not from Facebook?o 30,000 Microsoft employees, 8,500
Googlers, etc.o Relationships are ripe for exploiting for
business networking
TYPESCorporate bloggingNiche networksProfessional networks‘Social’ networksMicro-bloggingWikisIntranet 2.0
Business of Social Media | Matthew Buckland
o Short form of blogging, includes Twitter.com
o For those too busy to blog, or can’t write
o Could also add social bookmarking: del.icio.us, digg.com and local muti.co.za
o Knowledge sharing and collaboration example can be applied internally to your organisation?
o Break down silos, create efficiencies
TYPESCorporate bloggingNiche networksProfessional networks‘Social’ networksMicro-bloggingWikisIntranet 2.0
Business of Social Media | Matthew Buckland
o Collaborative publishing: anyone can create, write & edit a webpage
o Internal or external –good for “how-to” guides and manuals, documenting experiences
o Obsidian: local tech company uses wikis for its diverse, travelling consultants
TYPESCorporate bloggingNiche networksProfessional networks‘Social’ networksMicro-bloggingWikisIntranet 2.0
Business of Social Media | Matthew Buckland
o Beefed up intranets with social networking features: profiles, contact sharing, content sharing, knowledge sharing
o Joint corporate directories (centralised & efficient)
o SAP solutions, IBM’s enterprise social networking suite, called Lotus Connections
o Unlock the latent knowledge & expertise within organisation and employees heads
TYPESCorporate bloggingNiche networksProfessional networks‘Social’ networksMicro-bloggingWikisIntranet 2.0
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Business of Social Media | Matthew Buckland
Openess vs privacyConfidentiality NB for companyManage this tensionCompanies = “walled gardens”
Business of Social Media | Matthew Buckland
Driven by internet and mobile communications, networks are
turning into the major means of doing business... Simply put, networks will
make the world go round. So controlling the networks of this world
will soon count for more than controlling the capital.
Netocracy, by Jan Söderqvist and Alexander Bard (2001)
Business of Social Media | Matthew Buckland
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Presentation also available on: www.slideshare.net/matthewbuckland
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