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Gordon Gekko is Dead

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Description:
Presentation delivered on 23 October 2009 at Social Media in Business, London.
Transcript:
  • 1. Gordon Gekko Is Dead: How Competitive Advantage is Shifting in the Social Media Age. Joanne Jacobs Social Media Expert Consultant Email: [email_address] Twitter: @joannejacobs Skype: bgbsjj
  • 2. 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?
  • 3. Gordon Gekko: 'Greed is Good' http://www.youtube.com/watch?v=7upG01-XWbY
  • 4. 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
  • 5. 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
  • 6. 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
  • 7. Social Media & Business Case Studies
    • Case studies: Negative impact
      • Habitat : twitter idiocy
      • Honda : fake endorsements on Facebook
      • Reverb PR : Apple AppStore endorsements
    • Case studies: Positive impact
      • Dell : Twitter (See also RWW )
      • H&R Block (Tax agents): Facebook
      • HSBC Business Network : private network
  • 8. 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
  • 9. 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.)
  • 10. Questions?
    • Joanne Jacobs
    • Social Media Expert Consultant
    • Email: [email_address]
    • Blog: http://joannejacobs.net/
    • Phone: (+44) 07948 318 298
    • Twitter: @joannejacobs
    • SkypeIn: (+44) 0208 144 9348
  • 11. 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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