Date post: | 14-Dec-2014 |
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Technology |
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Trends and benefits of social media/networking
Steve Virgin, Media Focus UK
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
What is social media
The 1:9:90 Rule
It is no longer new...it’s natural...as everyone is online
Making money from social media
New ways of communicating
Social implies the interaction of individuals within a group or community.
Media generally refers to advertising and the communication of ideas or information through publications/channels.
Taken together, social media simply refers to content generated and sustained by the interpersonal interaction of individuals through a specific medium or tool – for the purposes of today’s presentation
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
http://www.internetworldstats.com/stats.htm
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• One in three on planet use internet
• Just under 2bn people
• Europe 60% penetration
• USA 78% penetration
• Africa 11% - growing 2,357% annually
• Latin America 35% - growing 179%
• Middle East 30% - growing 1,825%
• One in three on planet use internet
• Just under 2bn people
• Europe 60% penetration
• USA 78% penetration
• Africa 11% - growing 2,357% annually
• Latin America 35% - growing 179%
• Middle East 30% - growing 1,825%
5
Social Media Users | Who are they?Creators
Publish a blog/own websitesUpload original audio/video contentCompose articles or stories and post them
CriticsPost ratings and/or reviewsComment on editorial news and/or blogsContribute to forums and/or wikis
SpectatorsRead blogs, forums, ratings and/or reviewsWatch videos and/or listen to podcasts
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
6
90-9-1 Principle: The Inequality of the Web
Source: Jakob Nielsen - Participation Inequality: Encouraging More Users to Contribute
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
7
• We did all this before – we now do it digitally
• We are doing it faster
• We feel empowered
• We are part of a wider audience
• We want to be valued
• We want to be listened to
• Our expectations on service are the highest they have ever been
• We did all this before – we now do it digitally
• We are doing it faster
• We feel empowered
• We are part of a wider audience
• We want to be valued
• We want to be listened to
• Our expectations on service are the highest they have ever been
Source: TNS
The net is no longer ‘new’ it is natural
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• Fan-driven page for Coca Cola
• Subsequently adopted by the company
• Site has 22.5m fans as of 20/02/11
• Fan-driven page for Coca Cola
• Subsequently adopted by the company
• Site has 22.5m fans as of 20/02/11
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• Share price tumbled by around 10% costing the company (at least initially) around $180m
• Share price tumbled by around 10% costing the company (at least initially) around $180m
http://www.seoptimise.com/blog/2009/07/united-airlines-lose-millions-youtube.html
• Don’t take customer complaints seriously enough!
• They can hurt you in other ways too
• Video for song has had more than 6m views & 40,000 5 Star ratings
• Don’t take customer complaints seriously enough!
• They can hurt you in other ways too
• Video for song has had more than 6m views & 40,000 5 Star ratings
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• If you don’t manage social media sites, activists will do it for you
• And if you annoy customers or users in some way
• They’ll hijack your brand and return the compliment
• If you don’t manage social media sites, activists will do it for you
• And if you annoy customers or users in some way
• They’ll hijack your brand and return the compliment
Threadless
http://www.collective-e.com/blog/business-model-works-threadless-generated-10-million-profit-30-million-sales11
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• An astonishing profit
ratio for this
business model
• $10m profit from
$30m in sales
• You design your
own T-shirt
• Community votes on
best ones
• Company prints
them
• An astonishing profit
ratio for this
business model
• $10m profit from
$30m in sales
• You design your
own T-shirt
• Community votes on
best ones
• Company prints
them
Dell makes millions via Twitter
http://www.techwatch.co.uk/2009/12/09/dell-makes-millions-via-twitter/ 12
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• Just another ‘sales channel’
• Cheaper to run
• Can pass on cost to consumer
• Delivery & quality of goods key
• But making money from a new channel
• Just another ‘sales channel’
• Cheaper to run
• Can pass on cost to consumer
• Delivery & quality of goods key
• But making money from a new channel
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• Many channels
• A lot of noise
• Potential to do a lot of good + a lot of harm
• Many channels
• A lot of noise
• Potential to do a lot of good + a lot of harm
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• The potential audiences for good content are now greater than they have ever been
• The potential audiences for good content are now greater than they have ever been
Heineken – new ways of message penetration
http://www.youtube.com/watch?v=hzlVyCgZBdY
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• Viral campaign
• Handed out widgets for users to use on their ‘friends’ sites to match friends to these viral characters
• Message spread faster, recall higher than ever was through a paid for research campaign and promotion route
• Viral campaign
• Handed out widgets for users to use on their ‘friends’ sites to match friends to these viral characters
• Message spread faster, recall higher than ever was through a paid for research campaign and promotion route
http://mashable.com/2009/09/22/social-media-business/
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• The route to top class customer service is often ridiculously simple
• Talk to them, listen & respond
• The route to top class customer service is often ridiculously simple
• Talk to them, listen & respond
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
• Social media is not a new channel to reach consumers,
• It is a channel they will use to learn about you, discuss what you do
• And they will contact you in seconds
Social media is ‘cool’ in terms of CSR
http://mashable.com/2009/12/16/telstra-social-media/
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
Media Focus UK – Strategic Intelligence in a Digital WorldSocial media, Consultancy, Reporting, Media Analysis
Many thanks for listening
For further information: [email protected]
Follow me on Twitter: @MediaFocus or @BarkingBirdy