Social media and challenges

Social Media

Submitted By :

Ankit Jain

Aarti

Jyoti

Abhilasha

Inderjeet

Amit Kumar

What is Social Media

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Top social networks for business

Facebook – Highest advertising revenue of all social media sites; ideal for FMCG, lifestyle, apparel and luxury brands to build presence and advertise on

Twitter – Favourite rant corner for most consumers; micro blogging feature takes away the pressure to be compelling or grammatically correct

LinkedIn – Must for serious businesses and companies looking to mine data, manage knowledge or be ‘thought leaders’

Blog – Still in flavour for serious or lengthier communication; great for SEO

Facts and Figures

36% of all social media users have posted about a brand or product at some point of time

61% of all social media users are willing to give feedback about brands on social networks

42% of social media users have had at least one direct conversation with a brand on social networks

85% of users were never contacted by a company or brand despite posting a negative review about it

82% of these people stopped doing business with the brand in question as a result

Social media for business functions

Marketing – The most obvious and common use of social media in business. Works because almost every brand has a section of target audience online today

HR – Great for identifying and engaging with talent directly. Also enables companies to showcase employee benefits and culture to outside world

Creative – Sharing enables art, copy and design teams to get new ideas, learn new things and experiment

Operations / Strategy – Sites like LinkedIn help in connecting with domain experts who can share valuable strategic insights

Business Development – B2B companies can use professional networking sites to connect with prospective clients

Social media for leadership

Visibility – in the industry, among peers and team members

Reputation – Use of social media builds a CxO reputation as a progressive, fearless and confident leader

Approachability – For clients and team members, a CxO active on social media is a sign of an approachable and transparent company

Thought leadership – Needless to say, being active on social media will mean a lot of strong content, and that will recognise the CxO as a thought leader

Good for business – A leader who is seen positively on social media will help the business through his personal brand

Social media and ROI – is it real?

What’s the ROI of your pants? Your phone? Your secretary?

Social media and ROI – how?

Only 19% of all marketers using social media are able to calculate ROI

Important to differentiate between ROI and metrics

10000 hits to a website is a metric, not an ROI

Increase in customer satisfaction by 15 points is also not ROI

ROI = (Benefits – Cost x 100) /Cost

Measuring ROI

Increased traffic —more people reading your blog, more hits on your website, more Facebook likes and Twitter followers

Google Analytics (tracks keywords, incoming links, sites, etc.)

WordPress dashboard

Tweet Meme (retweets)

More relationships –meeting and doing business with new professionals

Overall better brand awareness (having fans, followers, re-tweets, readers, viewers builds your brand)

Google Analytics

FaceBook Analytics

Measures:Total page Likes, or a number of fans, daily active users, new Likes/Unlikes, Like sources, demographics, page views and unique page views, tab views, external referrers, and media consumption

Social media and ROI – examples

Positive Dell - $6.5 M in sales via Twitter

Old spice – Increase in sales by 107%

Jet Airways – Huge PR resulting into customer loyalty and repeat sales

Sea World San Antonio – 5800% ROI (using the ROI formula on prev page)

Social media and ROI – examples

Negative Dominos ‘dirty food’- Sales down by 30%

Gap logo change – Sales went down in two weeks

United Airlines ‘breaks guitars’ – $1.6 M losses in ticket sales

Why is social media so important for businesses?

It finds you customers and builds clientele

It gives businesses the ability to find out what people are saying about them (and others) in their industries

It introduces your brand

It gives you feedback about your brand

It provides a test audience (vs. focus groups)

Solidifies your reputation as a valuable and knowledgeable resource

Incorporating Social Media Into Your Marketing Strategy

Parts of a Social Media Strategy

Identify Your Target Market

• Who are your customers?

• What characteristics do they have?

• What age group do they come from?

• What are their spending or shopping habits?

• Do they shop online?

• What social media applications are they using?

Parts of Social Media strategy

Create a Profile or Brand

• As you create your online profiles, think about your screen name

• Website Domain Name – http://www.dsm.org

• Twitter – http://twitter.com/dsm

• Facebook – http://facebook.com/pages/dsm.org

• Delicious – http://delicious.com/dsm

• E-mail – [email protected]


Decide on appropriate social media applications

• Which ones are your customers using?

• Start with one - Understand it, utilize it effectively and then expand your online presence

• Write good and appropriate content

• Build relationships; listen and engage with your followers


Plan the time frame

• Map out a schedule for updating content

• This should be accomplished on a regular basis

• Follow the schedule


Include Search Engine Optimization (SEO)

• Focus on Good Phrases

• Avoid “Vanity” keywords

• Use Google’s AdWords Keyword Tool

• Remember the value of repetition

• Guide your content strategy


Develop a content strategy plan

• Content should be both useful and usable by customers

• Develop a plan for creating this type of content

• Develop a plan for getting the content published

• Not as easy as it sounds

• Publishing or uploading content takes a dedicate effort on your part


Measure progress toward goals

• Did we learn something about our customers that we didn’t know before?

• Did our customers learn something about us?

• Were we able to engage our customers in new conversations?

Role of Social Media in Emergency Management

Natural Disasters

Earthquakes, Floods, Storms, Tsunami, Forest Fires

Man-made disasters

Riots, Social Uprisings

Medical Emergency

Need for Blood, Organ Transplant

Social media and emergency management (EM)

“Social Media not part of the most of the organizations’ emergency plan”

Red Cross survey of adults 18% turn to social media after calling emergency helpline

74% expect requests for help via social media to be answered within an hour

Failures in communication and information sharing

Agencies and organizations must leverage social media for EM.

Haiti Earthquake, Jan.2010 – US Government Response

Use of Wikis and web collaboration tools

Information portal to support relief

Comprehensive, common, neutral platform

Open

Interconnected and collaborative

“Never before experienced”

(Bedford & Faust, 2010)

Other Examples

San Diego wildfires (2007)

Blogs, Twitter, Facebook, Flickr, Google Maps mashups

City of San Francisco, CA – Tornados

Alerts via Facebook, Twitter, YouTube, SMS

Cooperation with other cities

Earthquakes and floods in China

Forums, Twitter-like tools

Social Revolutions/Uprisings

The recent events in Tunisia and Egypt demonstrated the power of social media as a force for democracy and a tool for political change. It has been dubbed a non-violent ‘social media’ revolution.

In the Iranian elections, the opposition parties used Twitter, Facebook and YouTube to communicate, stage rallies, and publish information about their protests.

ISIS militants uprising in Iraq & Syria and effect among youth through social media.

Benefits

Facilitate sharing and translation of knowledge

Broad access

Conversational, discussion-based style

Near real-time, two-way medium

“Social networking sites … might be the answer to getting the big picture”

Challenges

Need to retain information, knowledge afterwards

Knowledge management

Move beyond microblogging

Do not add complexity

Trust, verification, reciprocity

Group or agency may need to step up