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Social Media
Chartered Secretaries Australia
Steven SmithDirector, Advisory KPMGtwitter: @stevenrsmith100
June 2012
2© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Agenda
3© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
4© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
World’s most avid users of social media based on
hours Social media is the # 1
online activity for Aussies
10.9 m Facebook1.9 m Twitter2 m LinkedIn
9.9 m YouTube
Infrastructure & devices are driving
an increase in online engagement
5© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype? ... one year ago....
Here is how the social web dealt with the death of Osama Bin Laden – as reported by mashable.com
the social web
6© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype? ... one year ago....
• 5,106 tweets per second before Obama’s speech
• 27,900,000 tweets in 2 hrs 35 mins
7© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype? ... one year ago....
“Within about two hours ….a Facebook Page titled “Osama Bin Laden is DEAD” had accumulated more than 150,000 “likes.”
Source: mashable.com
8© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype? ... one year ago....
9© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
• 48% of 18-34 year olds check FaceBook when they wake up
• 750 million photos were uploaded to FB over New Years Eve 2011
• 57% of people talk to people online more than they do in real life
10© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
advocacy by your customers on your behalf will take your business to the next level.
consumer expressions...
“To us, an expression is any level of engagement with our brand content by a consumer or constituent.’Joe Tripodi, Executive Vice President and Chief Marketing and Commercial Officer of the Coca-Cola Company.
11© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
Accept that customers can generate more messages than you ever could.
Accept that you don't own your brands, your consumers do.
Develop content that is liquid (Web and SM) and linked to your brand strategies and business objectives.
12© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
it’s cheaper to fish where the fish are
13© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
AU$18.40
AU$16.00
AU$5.15
54,000
62,000
182,000
8.3 million
How many transactions if the budget was $1m??Cost /transaction
AU$0.12
14© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype? – not everyone is buying the hype
• 62% of online Australians use social media
BUT.... the % of businesses with a SM presence is way behind..
• 14% of small businesses
• 25% of medium-sized businesses
• 50% of large businesses
The Sensis Social Media Survey (May 2011)
15© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Why the hype?
Use SM to: •share•articulate•express •contribute•learn•educate •influence•promote•sell
SM is:•it’s what your customers are using•relatively cheap – but not free•it’s instant access to customers •is more mobile than the Web
SM is a brand tool:•organisational exposure•learn from customers•customers become your advocates•increases online footprint
16© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Agenda
17© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Managing the risk – recognising what stage you’re at
Est. % of our clients today50% 40% 10%
18© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Managing the risk – identifying the risks
What are the risks?
time and $ lost in crisis
managementnot learning from your customers
cost of playing
catch-up
losing marketing
opportunities
Reputation damage
losing customers to competitors
who are in SM
19© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Managing the risk – identifying the risks
Brand and image is the most concerning element keeping CEO’s up at night.
AON Survey
20© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Managing the risk – have a SM policy
1. Be honest about who you are2. Make it clear that the views expressed are yours3. You speak for yourself, but your actions represent the company4. Use your common sense5. Play nice6. The Internet is a public space7. The Internet remembers; “what happens in Vegas...stays on Google“8. An official response may be needed9. Respect the privacy of offline conversations10. Same rules and laws apply: “new medium, no surprise”11. When in doubt, ask
“3 Rs” of social media engagement:
RepresentationResponsibilityRespect
21© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Managing the risk – have a response plan
1. who – staff responsible
2. how – tools and techniques for monitoring
3. what – list Web activity to watch and what to look for
4. when – frequency and range of monitoring
5. intervention – how to intervene, timing and what to say
6. reporting– how, when and to whom to report actions
7. improving – follow-up to the intervention, adjust action plan
Have a SM action plan detailing how you will respond to adverse comments in social media.
22© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Managing the risk - taming the bad
22
• it takes time to humanise and personalise traditional ‘business speak’ for social media
• understand the audience and get feedback
• experimentation and learning never ends – audience expectations grow, tools emerge, disappear and change
23© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Managing the risk - taming the bad
Summary
23
24© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Agenda
25© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Digital trends – it will get uglier out there
25
26© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
Summary
26
While social media usage and applications will continue to evolve over the coming months and years, three things are certain:
•It’s only going to get bigger.•No business can afford to ignore it.•And, you won’t fool the children of the revolution.
The Sensis Social Media Survey (May 2011)
27© 2012 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG and the KPMG logo are registered trademarks of KPMG International.
To download the research report:
Go to www.kpmg.com.au
Search on ‘social media voyage’
For more information please contact:
Steven SmithDirector, AdvisoryEmail: [email protected] Twitter: stevenrsmith100
Download our latest Social media report