power of social media

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The power of social media

May 26, 2011

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Questions that may be answered today:

1. What is social media?

2. How are companies using social media?

3. What can you do?

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The Internet circa 1993

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Internet in 2011

6*Mobile penetration: 121% Internet penetration: 64.6%

Force 1: Rise of access

*Source: Malaysia, Q1, 2011, MCMC forecast, Internetworldstats.com June ‘09

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Force 2: Media fragmentation

Opinion forming elite• One-way, one-to-many• Sole or few sources

dictating schedules and headlines from top-down.

• Very little engagement or feedback encouraged and even these are edited.

Here it is, you decide• Many-to-many• Bloggers, tweeters,

podcasters, aggregators, producers, commenters post in their own time

• Many sources engage in the conversation from grassroots-level, build their own audience.

Mass media >>> Masses of niche media

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Force 3: Diverse media options

ThenWord-of-MouthPrint: eg. news, direct mail,ads, newsletters, magazinesPublic relationsBroadcast: TV, radioTelephoneDirect MailContestsResearch reportsFace-to-face

NowWord-of-mouseEmailWebsitesBlogs eg.Wordpress, Blogger

Social networks eg. Facebook, LinkedInMicroblogging eg. Twitter

Video-sharing eg. YouTube

PodcastsMobile apps eg. iPhone, Android

Video chat eg. Skype, Facetime

Forums, Chat RoomsSearch Engine MarketingViral marketing

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Tomorrow’s customers are

today’s “digital natives.”

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The old communication model was a

monologue.

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The new communication model

is a dialogue.

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Where Is Everyone?

F. L. Y. T. B.

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By the numbers…• 675m users• Malaysia: >10 million

• 100m users• Malaysia: 462,000

• 3 billion views daily• 48hrs of video uploaded/1 min

• 200m users• Malaysia: >1 million

• > 200m bloggers

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In 2011, if you’re not on a social networkingsite, you’re not on the Internet.

“Fish where the fish are!”

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Twitter in action: Plane crash!

http://www.youtube.com/watch?v=imDFSnklB0k

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From Twitter to Front page

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Lessons

• A single person with a smartphone can make a huge impact globally

• Some characteristics of social media: immediacy, velocity, amplification, archival.

• People care more: appear more human, more real, more visual, offers more engagement and instant feedback, more believable, more authentic.

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Eg: Tornado hits Joplin, Missouri, worst since 1953, over 120 dead

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Starting with a digital newsroom

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Using Twitter for media relations

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Spreading info via Twittersphere

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How are companies using TwitterEXTERNAL

• Customer service• News, blog updates• Branding, promotion,

marketing• PR, media relations• Finding leads,

prospects• Extending touchpoints• Community building• Networking, tweetups• Direct sales• Recruitment• Driving traffic to website

INTERNAL• Connecting sales teams• Coordinating

decentralized teams• Event planning• Project status and

updating staff, teams• Employee support• Mentoring• Problem-solving• Purely social

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CIMB on Twitter: Customer servicetwitter.com/cimb_assists

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Expect to be attacked

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People are already talking about you…

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• 675m active users as of May 1, 2011*• 50% log in everyday, Avg: 41 minutes/day • Average user has 130 friends • Average user is connected to 60 pages,

groups and events • Average user creates 70 pieces of content

each month • About 70% of users are outside USA• Over 100m access it using mobile devices.

Source: *InsideFacebook.com, May 2011, rest of stats from http://www.facebook.com/press/info.php?statistics, as of July 2010

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Facebook users in Southeast Asia

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5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

35,000,000

40,000,000

Indonesia 26,598,240 32,129,460 35,177,260

Philippines 16,349,240 18,901,900 22,376,740

Malaysia 8,136,780 9,544,580 10,088,720

Thailand 5,376,700 6,914,800 8,699,080

Singapore 2,273,440 2,437,520 2,318,060

Oct 01 2010 Jan 01 2011 April 1 2011

Source: Facebook, GreyReview.com, as of Apr 5, 2011

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Study: Malaysia is No 1

• Malaysia is No 1 in online social network friends, avg friends is 233, after Brazil (231), Norway (217)

• Avg timespent on social networks: 9hrs/wk, Russia (8.1hrs), Turkey (7.7hrs)

Source: TNS’ Digital Life survey of 50,000 respondents in 46 countries covering nearly 90 per cent of the world’s online population, Oct 10, 2010.

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CIMB on Facebookhttp://www.facebook.com/CIMBMalaysia

One-to-one customer complaint resolution

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News updates

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Recruitment

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Marketing

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Can we ignore social media?

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There will be consequences…

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1. You won't know what people are saying about you

The conversation is taking place anyway. You can choose to participate or you can ignore it, but people are talking -- even when you're not listening.

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2. You won't know what's going on in your marketplace

• Listening in to conversations on Facebook, Twitter and the blogosphere is like having a free focus group going 24/7.

• If you listen to your market, you'll be able to anticipate customer needs, make better products, and hear what's wrong with what you are currently delivering.

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3. No one knows the real you• Someone may already be squatting on your brand and

spewing false corporate messages• If you don't secure your brand accounts on Twitter,

Facebook, no one will know if it's real or fake. • Get out there with your own voice and establish a

reputation for authenticity and truth - it's a lot harder for someone else to hijack your brand.

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4. When you need a voice, you won't have any credibility

• Typically, organizations only think of a blog or a Twitter account, after a crisis hits.

• Whether you're talking online or off, it takes months – even years – to establish trust in a relationship.

• You need to start the conversation in order to start making deposits in the bank of trust. Then when you need it, the credibility will be there.

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5. You're giving away a competitive advantage

• Whether you are listening or not, chances are your competition is monitoring what your stakeholders are saying about you.

• They may get feedback you don’t and be able to bring a new product to market faster, and meet the needs of the marketplace better than you can.

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2.Connect1.Listen 3.Add Value

4.Measure

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4-step social media guidance

Step 1: Listen

Who’s saying what?

Who comments and responds?

What they say and how they say it.

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4-step social media guidance

Step 2: Connect!

Find your voice byparticipating in theconversations.

Observe responses,if any

502/3 of the economy now influenced by2/3 of the economy now influenced by personal recommendationspersonal recommendations – McKinsey&CoMcKinsey&Co

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4-step social media guidance

Step 3: Add value

Genuinely reach out to help.

Bring authority andcredibility to theconversation.

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4-step social media guidance

Step 4: Measure

Track pageviews,downloads, embeds,visitors, followers, fans

Evaluate cost savings

Weigh positive vsnegative comments

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“The future is here. It’s just not widely distributed yet,” William Gibson, author of Neuromancer; coined term “cyberspace” in 1984