5 ways social media changed the way we do business
TRANSCRIPT
5 Ways Social Media Changedthe Way We Do Business
Honza Páv, 20. 11. 2014
New York University in Prague
Let's start with definitionsSocial media vs. Social networks
Are IM apps like WhatsApp, Skype or Viber regarded as Social Media?
SocialMedia
Social NetworksDiscussion
ForumsPhoto and Video
SharingComments Blogs Reviews
FacebookTwitterGoogle+Foursquare
Lide.czFinExpertOmlazeniBabinet
YouTubeStream.czFlickrRajče.czGalerie.cz
iDnes.czNovinky.czMěšec.cz
BloggerMedium.comWordpressBlog.czEstranky.cz
HeurekaEshopyScuk.czTripAdvisorHotels.com
Let's start with definitions"Doing business" as selling to people
• It is not about marketing anymore – business model and other parts of business became a marketing tool
• Scale – I try to look at the topic from both the small and big scale of business
• B2B is sligthly different, will becovered partly
1. SOCIAL MEDIA BROUGHT EFFICIENT TWO-WAY COMMUNICATION
Differences between massand networked media
Source: flatworldknowledge.com
Businesses are forcedto communicate
In the context of Twitter, source: marketingland.com
Businesses are forcedto communicate
In the context of Twitter, source: marketingland.com
Businesses are forcedto communicate
My thought was:
„They won‘treply on e-mail. On Facebook, they have to“.
Businesses are forcedto communicate
In the context of Twitter, source: marketingland.com
Customer care is a differentiating factor
Source: orchard.co.uk
Every company is a media companyCommunication is not a campaign anymore.
Hero, Hub, Hygiene framework
Every company is a media companyStorytelling is about vision
source
Companiesthat tell greatstories usually
have strongvisions.
If you think youhave nothing to say, start with
the reason whyyou‘re in the
business
Is it really efficient? Or is ita blackhole where you lost money?
Source: Superbwallpapers.com
If done without a strategy, you willpropably fail
Regarding strategies, it can be build from bottomup by executing a vision and iterating. But you
have to create your strategy Framework one day…
2. SOCIAL MEDIA CHANGED THE WAY PEOPLE DECIDE ABOUT PRODUCTS
Commoditization and technology developement influence buying decisions
Brands can react on opportunities. It is more than just showing ads.
Buildinga relationshipin real-time
Fake reviews
Source: Lifehacker.com
Gartner Says By 2014, 10-15 Percent of Social Media Reviews to Be Fake, Paid for By Companies (Gartner.com)
Brands can analyze the data and betterunderstand customers‘ needs
Reporting & monitoring Analysis & advanced visualization
Brands can analyze the data and betterunderstand environment and relationships
Source: honzapav.cz
3. BUSINESSES, ESPECIALLYTHE SMALL ONES HAVE NEW TOOLS
No free reach on Facebook anymore, but still…
Guess how many fansdoes this Page have?
Tools for business before and now
Before After
Advertising was sooo expensive Now you can buy ads on Facebook etc.
Reaching niche segments was almostimpossible before data from social media and geolocation
Within several clicks, you can set up a campaign targeting various behavioral orinterest-based segments
Website could be done only byprofessionals
Just use Wordpress or Squarespace
Business intelligence tools were only fromcorporate world
Now they are accessible (not cheap) withQlik, Klipfolio or GoodData
Many others: Google Analytics, Hootsuite, NodeXL, Open Refine, PHP, APIs, …
The growing need for skilled people
1. Be able to think long-term (strategically)
2. Know Project Management (not tools, but principles)
3. Learn writing (it also helps in thinking)
4. Understand Excel
5. Be familiar with graphic design tools (Photoshop, Gimp)
6. Don‘ t be affraid of coding (HTML, CSS, PHP)
4. SOCIAL MEDIA BROUGHT MORE DATA INTO BUSINESS
The architectureof social media posts
„It‘s just a metadata“
“It does not collect the content of any communication, nor do the records include names or locations. The NSA only collects the type of information found on a telephone bill: phone numbers of calls placed and received, the time of the calls and duration."
„It‘s just a metadata“
Social Data are rich source of knowledgeWe already talked about analysis…
Source: honzapav.cz
Benefits for businessesSocial Data in CRM systems
Source: stratablue.com
Benefits for businessesTailor-made Services / Content
Benefits for businessesTailor-made Services / Content
Much better advertising: Allowingsegmenting and remarketing
Women 25 – 45, 2+ children at householdOR
Mothers interested in child care and common Children‘s cerealbuyer similar to people who buy cereals on our website
Much better advertising: Allowingsegmenting and remarketing
5. SOCIAL MEDIA ARE CHANGING THE WAY ADVERTISING BUSINESS WORKS
Do you know Socialbakers?They exist because of Social Media.
Do you know Ogilvy?They need to change and evolve their services.
Do you know O2?They evolve internally to facilitate
the benefits of Social Media.
Do you know Lovebrand?They need to explain what is the role of Social Media in brand
strategies for SMB‘s, not just selling ads or SEO.
FINALLY… SEVERAL TAKE-AWAYS
Knowing principlesand benefits of Social Media bring is a must, knowing all features facebook has is not.
All media are convergingwith „social“ elements. It is an
evolved environment, not a tool.
SocialMedia
Social NetworksDiscussion
ForumsPhoto and Video
SharingComments Blogs Reviews
FacebookTwitterGoogle+Foursquare
Lide.czFinExpertOmlazeniBabinet
YouTubeStream.czFlickrRajče.czGalerie.cz
iDnes.czNovinky.czMěšec.cz
BloggerMedium.comWordpressBlog.czEstranky.cz
HeurekaEshopyScuk.czTripAdvisorHotels.com
Please ask questions! Or follow-up at my email address [email protected] or on
Twitter handle @honzapav.<3