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RYAN COHN VP of Digital/Social WHAT’S NEXT? UNDERSTANDING SOCIAL MEDIA AND IT’S ROLE IN BUSINESS

Understanding Social Media and it's Role in Business

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Presentation given on October 3, 2012 to the League of Southeastern Credit Unions Fall Council Meeting.

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Page 1: Understanding Social Media and it's Role in Business

RYAN COHN VP of Digital/Social Operations

WHAT’S NEXT?UNDERSTANDING SOCIAL MEDIA AND IT’S ROLE IN BUSINESS

Page 2: Understanding Social Media and it's Role in Business

QUESTIONS TO BE ANSWERED…• In the grand scheme of communications and marketing, what exactly is social media? • How should we measure success on social media? What are the best metrics? • Everyone talks about Likes, fans and followers. If I don’t have thousands of fans, how can I get my message out to the right people? • How does the Facebook newsfeed work? Does everything I post show up in my fans’ newsfeeds? How do I get more fans to see my posts? • How many social media platforms do I need to use? Is Facebook enough?

Page 3: Understanding Social Media and it's Role in Business

In the grand scheme of communications and marketing, what exactly is social media?

• History of Communication (Mass vs. Social)

• Growth of the Social Web

• New Media Supply Chain

• Social Campaign Model

• Shift Away from Disruption Marketing

Page 4: Understanding Social Media and it's Role in Business

Where we are now

TV

RadioPrinting

Press

History of Communication(Mass vs. Social)

Page 5: Understanding Social Media and it's Role in Business

(Facebook, May 2007)

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FACEBOOK (est. 2004)955 million – Number of monthly active Facebook users as of July 1, 2012545 million – Number of daily active Facebook users as of July 1, 2012538 million – Number of monthly active Facebook users that log in via mobile (7/1/12)100 billion – Estimated number of photos on Facebook by mid-2011

TWITTER (est. 2006)225 million – Number of Twitter accounts100 million – Number of daily active Twitter users in 2011 (31.9% annual growth)20.2 million – People following Lady Gaga (Twitter’s most popular user)250 million – Number of tweets per day during October 2011

BLOGS39 million – The number of Tumblr blogs

at the end of 201170 million – Total number of WordPress blogs at the end of 2011

Years to Reach 50 Million Users:

Radio (38 Years)TV (13 Years)

Internet (4 Years)iPod (3 Years)

Facebook added 100 Millionin less than 9 months

Social Media: By the Numbers

Page 7: Understanding Social Media and it's Role in Business

The Growth of Facebook (mobile vs. all formats)

1-Apr-09 1-Jul-09 1-Oct-09 1-Jan-10 1-Apr-10 1-Jul-10 1-Oct-10 1-Jan-11 1-Apr-11 1-Jul-11 1-Oct-11 1-Jan-12 1-Apr-12 1-Jul-120

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Mobile Monthly Active Users Worldwide (in millions) Monthly Active Users Worldwide (in millions)

Page 8: Understanding Social Media and it's Role in Business

Social is the hottest topic today!

Tons of buzz words:

Always in the news:

But social is just the evolution of word of mouth, so let’s

break this down…

Page 9: Understanding Social Media and it's Role in Business

NEW MEDIA SUPPLY CHAIN

CONTENT

CONTENT DELIVERY NETWORK

HARDWARE TERMINAL

CONVERSATION

Page 10: Understanding Social Media and it's Role in Business

A few content delivery networks…

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Hardware terminals of today:

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New hardware terminals of tomorrow:

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CONTENT DELIVERY NETWORK

CONTENTCONVERSATION

Page 15: Understanding Social Media and it's Role in Business

Without content, there is no conversation.

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GIVE value if you want to GET value in return.

Page 17: Understanding Social Media and it's Role in Business

Social Media Workflow

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The Shift Away from Disruption Marketing“Only twenty years ago, our access was bounded by the books we owned, the TV shows we watched, and the books in our library. Today, because of the web, we’re seeing an exponential increase in the amount of information that we have access to.

“In a world of too much information, the only way to be successful will be to fit in seamlessly and naturally into people’s lives. You can introduce new content and new ideas to people, but it will need to feel natural or it will be ignored at best, infuriating at worst. The best way to do this will be through people’s friends.”

- Paul Adams, Product Development at Facebook (ex-architect of Google+)

Page 19: Understanding Social Media and it's Role in Business

How should we measure success on social media? What are the best metrics?

Everyone talks about “LIKES” & “FOLLOWERS”

But your whole audience doesn’t see your message.

FOCUS ON: Engagement (PTAT), Reach and Impressions

Page 20: Understanding Social Media and it's Role in Business

If I don’t have thousands of fans, how can I get my message out to the right people?

Focus on SMALL GROUPS and STAKEHOLDERS.

Page 21: Understanding Social Media and it's Role in Business

How Much is This Worth to Publix?

Page 22: Understanding Social Media and it's Role in Business

Or This to Target?

Page 23: Understanding Social Media and it's Role in Business

How does the Facebook newsfeed work?

Does everything I post show up in my fans’ newsfeeds?

AFFINITY

WEIGHT

TIME

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How many social media platforms do I need to use? Is Facebook enough?

How many can you juggle? Strategy + Implementation