MBA Event on 12 October
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Transcript of MBA Event on 12 October
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Social Media in BusinessDr Nadia Amin
Principal Lecturer in Information Management
Westminster Business School
Email: [email protected]
Twitter: @nadia_mk
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Evolution of web technologies
Source: Adapted from Spivack (2007)
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The Emergence and Rise of Mass Social Media
Source: D.Hinchcliffe, Web 2.0 Blog, web2.wsj2.com cited in Turban et al, 2010]
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Social Media
“ ..is the online platform and tools that people use to share opinions, experiences, insights, perceptions and various media, including photos, videos, and music with each other””
“Social network: a special structure composed of individual (or organizations) that is based on how its members are connected through various social familiarities”
*[Turban, King and Lang, 2009, Introduction to Electronic Commerce, 2nd ed]
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Top 5 Social Media Myths
1. Employees will waste time
2. Social media is for kids
3. We will lose control to the ’nutters’
4. Social media is a security risk
5. There is no clear ROI
[source: Matthew Hodgson, September 20, 2009, www.theappgap.com ]
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http://tjcnyc.wordpress.com/2008/08/14/ultimate-social-media-diagram/
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Social Media Revolution
[http://www.youtube.com/watch?v=lFZ0z5Fm-Ng][Erik Qualman: Socialnomics]
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– More than 500 million active users– 50% of active users log on to Facebook in any given
day– Average user has 130 friends– People spend over 700 billion minutes per month on
Facebook– About 70% of Facebook users are outside the US– There are more than 150 million active users currently
accessing Facebook through their mobile devices. – People that use Facebook on their mobile devices are
twice as active on Facebook than non-mobile users.
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Ford Explorer Facebook Reveal
[Mashable.com]
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Amazon starts selling stuff through Facebook
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Gap Asks Facebook Fans for New Logo Designs
– Gap announced new “contemporary” logo– New logo outrages customers– Negative feedback on Facebook – Parody accounts on Twitter– Is Crowdsourcing an alternative?
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– a micro-blogging social network to share content via short messages
– Used by businesses, celebrities and media – A post (tweet) is a 140-character message– You can ‘follow’ people, and they can ‘follow’ you too – You can protect tweets (privacy option) – You can create lists and follow others’ lists– A survey in January 2010 found there to be 75
million Twitter users. Many of these accounts were inactive; 40% had never sent a single tweet. There are around 10 to 15 million "active" Twitter accounts.
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Reputation Management:BP and Oil Spill in Gulf of Mexico
– Was BP oil spill the world’s worst PR disaster? – Fake BP Public Relations Twitter Account a Viral
Hit– BP Oil Spill Response Parodies Flood YouTube
– BP has purchased Google and Yahoo search terms in order to influence consumers’ views on the oil spill
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BlendTech Marketing on YouTube
http://www.youtube.com/watch?v=lAl28d6tbko&feature=player_embedded#!
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YouTube:“United Breaks Guitars”
http://www.davecarrollmusic.com/ubg/song1/
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Other ...
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Obama’s Presidential Campaign
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Government and Social Media
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Email is important!
– Email is needed and complements social media – What happens when you sign up to network?
– What happens when you buy a product online?
– What happens when you receive a DM on Twitter?
– 92% of adult Internet users send or read email more than regularly visit any social network
– email marketing outperforms virtually all other media in terms of ROI
Liz Azyan,www.lgeoresearch.com]
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Remember Google Wave?
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Creating links between social media and e-mail marketing provides more ways for people to share
[Liz
Azyan,www.lgeoresearch.com]
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Mobile phones / Tablets
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Location-based services:Foursquare teams with Starbucks
Barista badge
Mobile coupons
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Social Media ROI[Erik Qualman, Socialnomics]
http://www.youtube.com/watch?v=ypmfs3z8esI
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Investment in social media still modest*
*Social media and Online PR Report 2010 by Econsultancy, September 2010
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10 ways to measure social media success
1. Traffic
2. Interaction
3. Sales
4. Leads
5. Search marketing
6. Brand metrics
7. PR
8. Customer engagement
9. Retention
10. Profits [Econsultancy.com]
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The marriage of Search Engine Optimization (SEO) and Social Media Optimization (SMO)
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Tools to Monitor you Social Media Accounts
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References
– Electronic Commerce 2010:Global Edition, 6/E, Efraim Turban, Jae
K. Lee, David King, Ting Peng Liang.
– Mashable Social Media Guide
http://mashable.com/social-media/
– http://www.telegraph.co.uk/technology/twitter/7782888/Spoof-
Twitter-account-that-mocks-BP-over-oil-spill-wins-more-followers-
than-real-thing.html