The future of social

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The convergeance of social media and social innovation with creative partnerships between corporations and social enterprises is coming.

Transcript of The future of social

  • 1. The Future of SocialBy Robin Low

2. Engagement is all aboutmaking it relevant to the supporter. James Speros, Chief marketing officer, Ernst & Young 3. CURRENTLY: 4 PILLARS OF SOCIAL MEDIACreate NetworksBlogsArticlesGroupsForumsPagesTwittereHowYouTubePodcastExisting NetworksJoin ForumsJoin GroupsWikipediaTwitterComment onblogsBuild RelationshipsReply to forumsPost valueTwitter FollowTwitter replyRTStart EventsMeasure Success# of reply# of RT# of clicks on linksTrack influenceSales ROI from linksBenchmark withcompetitors 4. CURRENT PARADIGMAttention Engagement 5. NEW WAYS OF FUNDRAISING 6. FUNDRAISINGTraditional Engage donors 3 4times a year throughevents Approach foundationsand big donors formajor gifts Send out mailers to askfor remaining donationsNow Donors engaged tofundraise for theircause online via anactivity that they do. Viral fundraising effortsthrough social media 7. SOCIAL MEDIA GROWING INBUSINESSES 8. Education may have changed theway you think, got you a betterjob that earns more, but have youapplied it to impact society? 9. SOCIAL CAPITAL We can think of social capital as the links,shared values and understandings in societythat enable individuals, groups andorganizations to trust each other and so worktogether. 10. DIGITAL ACCOUNTABILITY Social media pushes for more transparencyand accountability. Consumers are more inclined to support anethical business. Consumers would rather do good with theirpurchases than give to charity. 11. VALUES VS VIRTUES 12. DISRUPTIVE INNOVATION A disruptive innovation is an innovation thathelps create a new market and value network,and eventually disrupts an existing market andvalue network (over a few years or decades),displacing an earlier technology. 13. SOCIAL CONVERGEANCE Businesses want to be more social engagecustomers on social media & build socialcapital Businesses want to stay relevant to customers Social Enterprises and CSR are getting moreprevalent. Social virtues are shared more and read morethan just marketing 14. SOCIAL INNOVATION A novel solution to a social problem that ismore effective, efficient, sustainable or justthan existing solutions and for which the valuecreated accrues primarily to society as awhole rather than private individuals. 15. How? Big companies cannot run social tests andprojects in small scale Creative partnerships 16. Success Stories Social Innovation Labs Grameen Creative Lab Nestas Social Innovation Lab Kennisland Etc. 17. Challenges Stuck within the system Optimizing (Fixing) vs Innovation Focus too much on process, and not onpartnerships and how it worked out Solutionism People, power & politics Scaling solutions override ideas, values andethics