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