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Gordon Gekko is Dead

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Presentation delivered on 23 October 2009 at Social Media in Business, London.
11
Gordon Gekko Is Dead: How Competitive Advantage is Shifting in the Social Media Age. Joanne Jacobs Social Media Expert Consultant Email: [email protected] Twitter: @joannejacobs Skype: bgbsjj
Transcript
Page 1: Gordon Gekko is Dead

Gordon Gekko Is Dead:How Competitive Advantage

is Shifting in the Social Media Age.

Joanne JacobsSocial Media Expert Consultant

Email: [email protected]: @joannejacobs

Skype: bgbsjj

Page 2: Gordon Gekko is Dead

Scope

How social media affects business

Why social media is crucial to competitive advantage

What traditional business practices need to be 'unlearned'

Where to from here?

Page 3: Gordon Gekko is Dead

Gordon Gekko: 'Greed is Good'

http://www.youtube.com/watch?v=7upG01-XWbY

Page 4: Gordon Gekko is Dead

Greed is Dead

Greed caused the current recession

Drive for higher profits can lead to poorer quality goods

Public relations and marketing disciplines grew from a need to manage customer service

Harder to deliver authenticity of customer service with poor quality goods

Page 5: Gordon Gekko is Dead

Competitive Advantage

Competitive advantage: Porter's 3 generic strategies:– Cost Advantage– Differentiation Advantage– Focus (niche)

All can be affected by greater access to information about products

Rise of comparison websites and user-generated responses has resulted in an increasing focus on value creation rather than cost, product or market differentiation

Page 6: Gordon Gekko is Dead

Value of Corporate Messages Brand perception versus

product quality Product quality versus reality in

product consumption Until the 1990s communication

power vested in media Rise of the internet diluted

media power Rise of social media inversely

proportional to perceived value of corporate messages

Page 8: Gordon Gekko is Dead

Where to from here?

• Ask yourself: WHY use social media?

• REMEMBER social media doesn't make money; it saves money

• MEASURE what you set out to achieve, not visits, hits, followers or fans

• COMPETE on value creation, not cost or product differentiation

Page 9: Gordon Gekko is Dead

Further reading

Superlist of Social Media Case Studies Now is Gone Case Studies HubSpot's 6 Social Media Marketing Lessons Socialmedia.org's video case studies

.... and contact a genuine expert for tailored advice.

(Genuine experts have 10 years or more experience in the tech sector.)

Page 10: Gordon Gekko is Dead

Questions?

Joanne JacobsSocial Media Expert ConsultantEmail: [email protected]: http://joannejacobs.net/Phone: (+44) 07948 318 298Twitter: @joannejacobsSkypeIn: (+44) 0208 144 9348

Page 11: Gordon Gekko is Dead

Image credits

• Slide 1: http://stochastix.files.wordpress.com/2007/05/gekko-fortune.jpg

• Slide 2: http://emersondirect.files.wordpress.com/2009/04/social-networks.jpg

• Slide 3: http://cedricmnich.files.wordpress.com/2007/11/gordongecko.gif

• Slide 4: http://www.e-bux.co.uk/images/800px-UK_Pounds_Sterling_3000_in_twenties.JPG

• Slide 6: http://tylersclark.com/blog/uploads/2009/07/billboard.jpg

• Slide 7

• Slide 8: http://paradelle.files.wordpress.com/2009/07/compass.jpg


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