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Social Media and business

ByIFG Workshop 2 June 2011

Mike Parsons and Mary Rose

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Aims of Session

• Builds on conclusions from online collaboration session                - Business objectives                - People                - Technology • Explains the importance of social media• Help you focus on the social media objectives of your

business• Helps you get started 

   

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What we will cover

 1.  How do networks work?2.  Why does social media matter?3.  Benefits and challenges4.  The Tools5.   Getting Started6.  Questions to ask7.  Measuring Results8.  The Future

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Facebook likened to an eighteenth century coffee house 

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'Credit is like a maiden's virtue, once lost it is lost forever' Daniel Defoe, 1727

 

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The square mile a hub of business intelligence and gossip

 

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So how are things different in 2011?

• Geographical limits removed

• Doesn't need to be  'real time'

• Customers involved 

• Technology awareness vital

• Real estate has gone digital - LinkedIn, Google etc

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Origins of Social Media

2003-2004LinkedInFacebookMySpaceFlickr

2005-2006TwitterBeboYou Tube

2011 Social Media UsersFacebook 500m Active UsersTwitter 106m usersLinkedIn 101m usersYou Tube > 2 Billion views per day

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Why does Social Media Matter for Business

A lovely introduction to why social media matters for business:

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Why Social Media Matters

What's happening in principle? Media and businesses no longer control the agendawho does?the consumer the dangers?  

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Why Social Media Matters

Stage 1- consumers to do things for themselves- create news -buy/sell products to others -customers do own admin eg online purchases - products/airline/ Stage 2in doing all this businesses or consumers can act to engage by creating community 

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Why  Social Media Matters

Key reasons:Defensive and Offensive : Rules of Game have changed Without Social Media expertise you are at riskRules of the marketing game have changed New lower cost marketing strategy than print advertising and PR  Important for B2C and B2B

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Benefits of Social Media

• Cost effective• Reach a wider audience• Generate new leads• Gain operational efficiency• Increase traffic to your website• Share information easily• Improve communication and collaboration• Build loyalty• Ability to respond/defend when problems

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Limitations of Social Media

• User-generated content by customers requires moderation• Security and privacy issues• Difficult to reach critical mass• Managing change internally and externally• Brand exposure & transparency: both positive and negative

comments eg TripAdvisor, Amazon• Time and cost of implementation & maintenance• Need to be used carefully and strategically

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Social Media - the big 4 

   with employees with customers with suppliers 

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Social Media Tools

 

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Social Media Tools

 

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Getting Started with Social Media

Questions to ask before you start with social media :

What is needed and what is possible?

PeopleObjectivesStrategiesTechnology 

  

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Behind POST

People  : Who are your customers? How do they engage?

 What excites them?

What are they saying about your company, sector, product area?

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People : what are they saying?

Social Media Monitoring Tools

eg : http://www.icerocket.com http://www.socialmention.com

List for reference http://sixrevisions.com/tools/12-social-media-monitoring-tools-reviewed/

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Behind POST

Objectives : 

What do you hope to gain for your business? - eg Marketing? Customer interaction? Customer innovation?

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Behind POST

Strategy How do you want relations with cusomers/employees to change?

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Behind POST

Technology What tools are right for the job?

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Guidelines  • Update frequently

• Content strategy

• Right Social Media Mix

• Be Human, Honest & Authentic

• Educate, Entertain & Enlighten (3Es)

• Give & Take

• Participate & Engage

• Passion, Enthusiasm & Commitment

• Acknowledge & Reward Participation

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What to avoid• Trying to be Everywhere• Talking to Everyone about Everything• Trying to Please Everyone• Too Many Inactive Users• No Content Strategy• Hiding Behind Your Brand• Being Too Loud• Not listening to your audience• Forgetting to reward participation

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Steps towards getting started 

Define plan and objectives

Involve employees

Get closer to customers

Think like a journalist and publisher

Create a community 

Measure what is most important

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Measuring Results

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Future Developments

Think mobile !

2D Barcodes 

Mountain Riders use 2D

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Questions for Group Discussion (1)

1. Which social media tools do you use and how?    a) Personally    b) In your business

2. What challenges do you see in adopting social media for your business?

2. What are your aims in adopting social media?

3. Who are your customers and how do they use social media? 

• Discuss in groups.• Summarise on flip chart• One person from each group act feedback to whole course.

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From the case studies : OMM, Wiggly Wigglers, Mike Redwood and Twitter, Chris Tossell and Access, Sarah Howcroft Interview

Identify :1 Good practice

2 Challenges

3 Ideas for your business 

Write on Post Its and put on Flip chart for each case studyAfternoon discussion/feedback session

1 Group to summarise findings from flipchart nearest your table2. One person from each table to feedback to whole course

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OMM case study 

event of 2008 Seathwaite, Borrowdale,

Cumbria   

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The business

product design development manufacturingsales 

packs and clothing 

lightweight and suited for adventure racing events 

an eventfounded 1968 

2 day mountain marathon

for teams of 2 carrying all equipment and food for days days unsupported 

overnight camp with c1200 tents. no support other than water.   

  

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2008 Seathwaite Borrowdale

 

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Event 3,000 competitors 

was first UK event to be reported on website during period of event 

forum 

community

equipment used over weekend more value than London marathon (40,000 runners)  

event merchandise 

tees 

sweats 

etc 

a high kudos event 

a status symbol

car stickers   

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2008 Seathwaite Borrodale 

Storm hit 2 days prior and cleared through 

forecast was second storm Saturday 

sunshine by Sunday afternoon - prize giving.  

second storm extremely violent with sever flooding

Honister quarry 

Press call Dunkirk spirit 

Mark Weir morgue for 1700 people     

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Telecoms in Borrowdale 

very very basic

why?  

 

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PRESS reactions 

TV got into overnight camp 

deluge of calls from 7am   

my press man arrived back through floods 

mike - you have ............

BBC lets check facts before we go live

no one dead I hopehow many injured?

one reporter to boss I cannot find not a single person willing to slag off the organisers.     

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Results by Monday am 

3,000 articles around teh world from China - NZ - SAand Fox news USA 

all 7 nat dailies in UK carried at least 1 page usually 2 

barrage of requests for interviews  

 

 

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Interviews 

25 interviews over 5 days 

radio TV etc   

issues raised and why 

police attitudes 

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Wiggly Wigglers Case Study : Business to ConsumerWiggly Wigglers 2008 Dell Small Business Award

Customer Catalogue development using wikiPodcasts and blogs Facebook page Why Heather Gorringe uses Social Media  80% saving on advertising budget

 

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From the case studies : OMM, Wiggly Wigglers, Mike Redwood and Twitter, Chris Tossell and Access, Sarah Howcroft Interview

Identify :1 Good practice

2 Challenges

3 Ideas for your business 

Write on Post Its and put on Flip chart for each case studyAfternoon discussion/feedback session

1 Group to summarise findings from flipchart nearest your table2. One person from each table to feedback to whole course

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Some questions to take away (2) 

1How  do  you  communicate  with  your  customers? How could it be improved? 

2.  Do  you  collaborate  and  seek  feedback  from your customers? 

3.  What do your customers value most about your company? How might this be addressed using social media?

4.  What are your competitors’ social media  strategies?