Levergaing Social Media to Manage Reputation and Keep Customers Happy Getting Social in Times of...
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Levergaing Social Media to Manage Reputation and Keep Customers Happy
Getting Social in Times of Crisis
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22Source: Quotes as attributed. Artwork courtesy of TheFinancialBrand.com
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Case Study: AIG
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Case Study: AIG
Situation• Big target• Angry mob• Misperception of the truth• But no plan on how to handle the online fall out
Take-aways • Understand the power of the social media space• The best defense is a strong offense• Have a crisis management plan that includes social media
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A Rapidly Changing Communication Landscape
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Economic, social, and technological trends are collectively forming the basis for the next generation of the internet - a more mature, distinctive medium characterized by User Participation, Openness, and Network Effects.
Institutional Control Consumer Control
Push/Publish Listen/Collaborate
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A Rapidly Changing Communication Landscape
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Economic, social, and technological trends are collectively forming the basis for the next generation of the internet - a more mature, distinctive medium characterized by User Participation, Openness, and Network Effects.
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An Evolution Not A Revolution
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Channels• Blogs
• Discussion Boards
• Wikipedia
• Web Services
• AJAX
• Widgets/Gadgets
• RSS
• Open – Source
• Social Networks
• Virtual Worlds
• Contextual Media
• Search
• Mash-Ups
• Pod Casting (A/V)
• Viral
• Instant messaging
• Personalization
• Alerts
• Streaming Media
• Directories
• Reviews
• Polls
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Taking Part in the Conversation
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Dialogue, not Monologue• Social media must facilitate
two-way discussion, discourse, and debate with little moderation. It must be OPEN to everyone.
Honesty and Transparency• Social media is often a
painfully candid forum. Attempting to control, manipulate, or spam a conversation can backfire.
Pull, not Push• eMerging Media lets people
pull the content that they want, instead of having it forced upon them by an external entity.
Distribution, not centralization
• eMerging media (content and applications) is highly distributed and made up of many voices making it far more textured and rich than “old” media.
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Who Is Using Social Media?
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Who Is Using Social Media?
Rank Online SegmentGlobal1 Active Reach Dec 08
Global1 Active Reach Dec 07
% Point Increase in Active Reach
1 Search 85.9% 84.0% 1.9%
2General Interest Portals & Communities
85.2% 83.4% 1.9%
3 Software Manufacturers 73.4% 72.0% 1.4%
4 Member Communities 66.8% 61.4% 5.4%
5 E-mail 65.1% 62.5% 2.7%
Source: Nielsen Online, Global Index, December 2007 – December 2008. E.g. In Dec 08 the Search sector reached 1.9% (points) more of the world’s online population than it did in Dec 071 ‘Global’ refers to AU, BR, CH, DE, ES, FR, IT, UK & USA only
Social network and blogging sites (Member Communities) are now the fourth most popular activity on the Internet
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Who Is Using Social Media?
Social Networking Site Users in Select Countries in Latin America
Source: comScore World Metrix as cited in a press release on November 19, 2008
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Who Is Using Social Media?
Source: Altimeter/Wetpaint ENGAGEMENTdb study of the social media engagement of the top 100 brands, July 2009
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Social Media Engagement Correlates to Financial Performance
Source: Altimeter/Wetpaint ENGAGEMENTdb study of the social media engagement of the top 100 brands, July 2009
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Guide to a Well-thought-out Social Media Strategy• Be proactive
• Don't start during a crisis – it's already too late• Nothing is wose for your reputation than desperation
• Know your audience • Who are they, where are they, what are they saying, what do they care
about, who influences them?• Listen for a whiile with Conversation Monitoring
• Know Yourself• What will you use Social Media for and why?
• Public Relations, Customer Service, Loyalty-building, Collaboration, Networking, Thought Leadership, Customer Acquisition?
• What are the business goals and objectives?• How will you measure success?
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Guide to a Well-thought-out Social Media Strategy• Be Transparent
• Honestly is the best policy and the truth shall set you free
• Provide Value• No matter what the strategy, people won't engage unless they get
something out of it• What can you give customers in exchange for what you want
• Measure, Collect, Analzye, Adjust• Create a specific plan for measuring success• It's not always new accounts, but it sure can be• Collect data and review and then reinvest the learing• Almost everything is trackable, recordable, measureable
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Case Study: Eastern Bank
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Case Study: Arizona Central Credit Union
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Case Study: Wells Fargo
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Case Study: Bank of America
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Case Study: HSBC
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Start with the Basic Tactics
1. Conversation Audit
2. Twitter
1. Facebook, Bebo, Hi5, LinkedIn
2. Blog
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Thank You.