6 damaging myths about social media and the truths behind them
Basic Truths of Social Media
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Transcript of Basic Truths of Social Media
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The Global Internet:2 Billion Users and Growing
PRSA Certificate in Principles of Public Relations
April 26, 2014
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Communications Technology: Always Changing
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The Numbers Don’t Lie
• 2/3rds of Global Internet Population Uses Social Media• 10 percent of Total Internet Time is Social Media Time• More Popular Than Checking E-Mail• 93% Believe a Company Should Have a Social Media
Presence• 85% Companies Should Interact with Customers
Through Social Media
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Democratizing Communications
• Internet Access; A Few Thoughts; A Few Key Strokes
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The Basic Truths of Social Media
1. Ubiquitous, but NOT Monolithic
2. Digital is Eternal
3. Conversational Marketing
4. Thought Leadership
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Blogging is Alive and Well
• 54.1 million WordPress sites• 327 million subscribers• 2.5 billion pages• 500,000 new posts daily• 400,000 comments daily• No Need for HTML• Create Own Web Portfolios for Free
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From Dorm Rooms to Wall Street
• LinkedIn, 2003• MySpace, 2003• Facebook, 2004• Flickr, 2004• YouTube, 2005• Twitter, 2006• What’s Next?
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Tale of Two IPOs
“Connections”• Networking Strategy• 200 million subscribers• $20.7 billion Market
Capitalization• $1.52 billion in revenues• $26 million in profits• Debuted at $45; Now
$171.82
“Friends”• Social Media Strategy
• 1.1 billion subscribers
• $59.7 billion Market Capitalization
• $7.8 billion in revenues
• $1.4 billion in profits
• Debuted at $38; Now $59.72
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Digital is Eternal
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Thought Leadership
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What Now?Strategies to Succeed in a Digital World
• Underpromise; Overdeliver• Brands “Traded” in Cyberspace• 24/7/365 Monitoring & Response• Doing Good, Not Just Doing Well• Two-Way Symmetrical Communication
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Not A Matter of “If,” a Matter of “When”
• Tell the Truth• Tell it All• Tell it Fast • Move On
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Manage or Be Managed:Your “Brand” is in Play