Social media 2 0 delivering competitive advantage for businesses v7 final
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This document summarizes a presentation about delivering competitive advantage through social media 2.0. It outlines the growth of social media platforms and users. It then discusses how more businesses and domains are embracing social media and presents a 5-step process for developing an effective social media strategy: 1) identify business challenges, 2) prepare for change, 3) involve stakeholders, 4) align goals with tools, and 5) measure returns. The presentation promotes Esprit, a social media solution, and encourages businesses to utilize social media and data as strategic assets.
Social media 2 0 delivering competitive advantage for businesses v7 final
- 1. Social Media 2.0Delivering Competitive Advantage for BusinessesPresented By : Astha Bhatnagar EmailD : [email protected] version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 2. AgendaSocial Media TrendsProven ResultsIncreasing InfluenceBuilding the Social Business Strategy5 Simple StepsDetailsImpetus’ solution – Overview Key TakeawaysRecorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 3. Social Media 1.0 - Proven Results146M+Unique Visitors132M+Unique Visitors in Jan 2010, & announced 400M+users on Feb 5, 2010.21M+Unique Visitors, 50M+ tweets per day—that’s an average of 600 tweets per second in Mar 2010. 91M+Unique Visitors, 20-to-35-year-old bloggers embed most of the videos (57%)60M+users, 14M+Unique Visitors, as of May 2010. Source: http://bit.ly/cbjNZe , http://bit.ly/cf5jUSSocial Media has over-delivered on its promises - Huge Audiences, Active Engagement and Crowd SourcingRecorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 4. Social Media 2.0 – Increasing InfluenceGovernmentsNGOsB2CRecruitmentB2BTourismSocial Media 2.0Social Media 1.0CRMEntertainmentThe growing reach…EnterprisesHealthHotelsBrandsFinanceReal EstateBusinesses, in every domain, & their customers are happily embracing social media!Recorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 5. Early Starters – Today’s Trend Setters79% of the Fortune 500 use Social Media to communicate with their customers and stakeholdersRecorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 6. Still Have Qualms about Adopting Social Media?Privacy?Do I need it?Reputation?Risk?ROI?To clear your doubtsWe present you with a systematic way to develop a “Social Media Strategy for your Businesses”Recorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 7. Identify the Business Challenges, to understand the need1 Prepare yourself for the change2 Building the Social Media StrategyInvolve the Key Stakeholders, to capture the Social Media Goals3 Align your Goals with appropriate Tools or Social Media Software4 Build the system to measure the social media returns (ROI)5 5 simple steps to build a Successful Social media driven Web BusinessRecorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 8. 8Business PerspectiveCustomer PerspectiveIdentify the Business Challenges , to understand the need My current branding and marketing initiatives are just not enough!
- 9. Review the effectiveness of my web presence
- 10. I want to assure that my customers are really satisfied.
- 11. Target the correct audience
- 12. Track my business growth – closely & accurately
- 13. Capture the right data to drive key business decisions
- 14. Participate in discussions with fellow users in the community
- 15. Raise my concerns and feedback for the product
- 16. Keep abreast on new products , services and offerSocial Media is not only instrumental in maintaining the customer relationship and engagement but also in growing the businessRecorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 17. Prepare Yourself for the ChangeCONNECTING with your customersSELLINGLarge CAMPAIGNSSMALL ActsCONTROLLING the MessageTRANSPARENCYAVAILABLE EverywhereHARD To ReachSocial Media is dramatically transforming businesses!Recorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 18. Involve the Key Stakeholders, to capture the Social Media GoalsI need to build thought leadership in my companyI want to increase my brand awarenessTop ManagementSales/MarketingPublic RelationsI want to understand the public views and opinions, and act on them, appropriatelyHRI want to improve employee satisfaction and attract top talentIn order to select the right Social Media solution, Its critical to understand the impact area within the organization
- 19. Align your Goals with Appropriate ToolsImplement a Social Media Solution which is robust , scalable , secure and based on your Goals
- 20. Build the system to measure the social media returns (ROI)COLLECTM E A S U R EI N N O V A T EANALYSEA perfect combination of on site data analysis, social data analysis and third party data analysis to extract useful information about your Business
- 21. Our Solution - Esprit Recorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 22. The Perfect CombinationYour BusinessespritRecorded version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
- 23. Wrap Up - Key TakeawaysThere is an ever increasing trend in most businesses of moving towards Social Media .
- 24. We present a comprehensive strategy for implementing Social Media for Web Businesses .
- 25. There exists and opportunity to utilize “Data as an Asset”.
- 26. We have an out of box solution ”Esprit” which can address social media needs very efficiently.
- 27. “Esprit” brochures, case studies and demo are located at http://www.impetus.com/ilabs/espritEmailD :[email protected] version available at: http://www.impetus.com/webinar_registration?event=archived&eid=18
Editor's Notes
- #6: Here is an interesting case study of different companies that are making huge strides with social media, both increasing market share and solving some revenue challengesEven though these organizations are of vastly different sizes and different domains , they are making striking gains in employing newer Web technologies to increase their market share and solve revenue challenges
- #7: Indeed the statistics are optimistic the question is no longer—“ should I participate in social media”? You should know HOW?The web is a powerful communication tool - if you know how to harness it. to use it strategically where it is the best fit, and not blindly or on a whim.Well conversation are happening at the blink of eye about you, your brand and your business with or without your agreement. Why not be a part of it and tell your people that “you” are listening and engage them? Trust this! People don’t talk to products, they talk to people and like to get what they need and not what we want to sell! But how about knowing and offering them what they want?
- #9: So now comes the question what is the Business context on social media? You are already involved in Social Media , as your employees are doing it , discussions about your brand are taking place , but what are we doing with all this knowledge for our business gains? The influence of social media is so significant that, according to The US Interactive Marketing Spend, 2009 to 2014 (Forrester), interactive marketing spend will near $55 billion and represent 21% of all marketing spending by 2014. Social media will comprise 3% to 6% of the interactive marketing spend. Here is just some of what can social media can do for you:· Reinforce your message and help it go viral· Embrace and project your brand’s personality· Allow for real-time, two-way communication· Allow you to communicate at point-of-need· Build business and generate profitsHesitant to try? Many organizations have still not jumped in to leverage the power of social media, engage and integrate it with the rest of their marketing initiatives. To start, every company or property needs social media guidelines in order to know what platforms to use and what the key messaging will be. To guide you in this process, we hope the following compilation will give you ideas on how to break through the clutter and join the dialogue for entrée to a whole new base of potential influencers.
- #10: Social Media is changing Businesses86%of B2B Marketers Use Social Media.50% of U.S. Women are Fans or Followers of Grocery, Health/Beauty, Household Product Brands or Stores Source: http://bit.ly/aUOHsl , http://bit.ly/anIdqFGone are the days when media was about news papers, TV or even online advertisements. Today its about targeted marketing, focused visions
- #11: . Your goal is to arrive at the core things you would want to achieve through social media, and why they matter to you as an organization. That’s going to take several discussions, perhaps lots of patience and negotiation, and a relentless focus on the question “why does this matter?” Then, and only then, should you consider the mechanisms86%of B2B Marketers Use Social Media.50% of U.S. Women are Fans or Followers of Grocery, Health/Beauty, Household Product Brands or Stores Source: http://bit.ly/aUOHsl , http://bit.ly/anIdqFGone are the days when media was about news papers, TV or even online advertisements. Today its about targeted marketing, focused visions
- #12: Share multimedia, documents, links, researches and new products.Take Feedbacks via Rating, Reviews and CommentsGet brilliant ideas at the Ideas CornerEnable fulfillment via ClassifiedsDramatically increase your news' Internet visibility Gather on-the-fly market intelligenceOffer Enhanced Profiles to know your customersDiscuss the “new’, solve a “problem” or a “concern” on Forums.Stay in touch always via 1-1 Chat and support with Live ChatBuild “Groups” according to Interests.Convey your well crafted thoughts via Blogs.Socialize via “Connections”.Share your awards & achievements with your people!Cstomer wants a conversation with the brand they buy from.Track via Analytics & Improve.Give quick responses to the queries raised by your customers.Get updates via filterable activity feeds.Showcase the latest in your business via the news sectionEmail / SMS / RSS Subscription.System wide Polls/Events/Announcements.Reward top users of the site.Get enabled with OpenSocial Widgets.Post content on famous sites like Facebook, Twitter to enhance your brand directly from your website.Give an expression to your business by sharing Photos and Videos.Share information via social bookmarking sites like del.icio.us and Digg.Allows users to share experiences with their friends and invite them from other social sites.
- #13: Social Analytics is an end-to-end process of “collecting data” and its “measurement” to deliver strategically driven innovation for your businessyou make smarter decisions and watch productivity go through the roofSo my vastly simplified response to your question involves two big choices that many companies forget to make. The first is what the ultimate aim of a social media campaign will be. Is it product awareness (measured in conversational terms) or is it real sales (measured by actual sales figures), or is it something else? You’d be surprised how many efforts are launched without answering this fundamental question.If you don’t have a clear picture of what you are aiming for, you’re definitely not going to be able to measure it or track results against it. Once you have an answer to that question, then there are a whole host of specific metrics that you can align against it. For example, you can measure volume or tonality of conversation. Or link frequency and actual clicks. Or content generation and influencer engagement. We have been building a model that has dozens of these types of metrics, that we can customize for each client engagement.Canned Social Media Reports presenting deep insights into the business, uncovering mined facts like Top Influencers, Most Active Users , Top Features, Your Brands Reach on Social Web, Demographics and everything that you really need to know!Sentimental Analysis to know the exact sentiment about an issue or a concern, find unsaid opinions of your “people”, in order to eliminate all bottlenecks caused because of the unheard.Interactive Visualization Interface offering social graph mining and visual exploration of the various features to map the “related” inside the sphere on the platform for “targeted marketing”.Recommendation Engine to bubble up real time recommendations tailored for the users to match their interests, allowing the business to offer best deals and right content to the customers.
- #14: Esprit is a comprehensive Social Media platform, with pre-build list of rich features, which gel with or can be meticulously crafted for businesses and industries of all shapes & sizes.