New Business Opportunities with Social Media Chris Bondy Gannett Distinguished Professor Administrative Chair, School of Media Sciences What Is Social Media? Social Media refers to the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks. Wikipedia 1
Creation/Exchange of User Content Roots of Social Media are the Bulletin Board A bulletin board (pinboard, pin board, noticeboard, or notice board in British English) a surface intended for the posting of public messages, for example, to advertise items wanted or for sale, announce events, or provide information. University Bulletin Board Grocery Store Bulletin Board 3 History of Social Media Corkboard to Computer (Computer, Modem, BBS software) Community Memory was launched in August, 1973 Berkeley, California, using hardwired terminals located in neighborhoods. This system allowed the user to type messages into a terminal after inserting a coin, and offered a "pure" bulletin board experience with public messages only (no email or other features). It did offer the ability to tag messages with keywords, which the user could search on. 4 2
First Bulletin Board System (BBS) The first public dial-up BBS was developed by Ward Christensen and Randy Suess. During the Great Blizzard of 1978 in Chicago, the two began preliminary work on the Computerized Bulletin Board System, or CBBS. CBBS went online on February 16, 1978 in Chicago, Illinois. CBBS reportedly connected 253,301 callers before it was finally retired. 5 Social Media Recent History 1997: AOL launched Instant Messaging (AIM) 1999: Blogging websites like LiveJournal or Blogger 2000: Wikipedia 2002-2004: Friendster, first website of its kind to obtain 1 million users MySpace attracts 1 million young adults in the first month Facebook is launched targeting college students 2005: Youtube Video 2006: Twitter 2007: Tumblr 2008: Groupon 2009: Foursquare 2011: Google+ 2012: Pinterest 3
Texting Takes Off SMS jumped from an estimated 1.8 trillion in 2007 to 6.1 trillion in 2010 At an average cost of seven cents per message, SMS traffic generates approximately $14,000 every second Active users in Europe: 80% (Ahead of U.S.) Source: ITU, the information technologies and communication arm of the United Nations (UN), More than 900 million active users as of May 2012 50% of active users log on to Facebook on any given day Average user has 130 friends People spend over 700 billion minutes per month on Facebook 152 million users in Europe If Facebook was a country, it would be the world s 4 th largest 4
LinkedIn has over 200 million members in 200 countries 172,000 New members join LinkedIn every day 39 million users in Europe Twitter has over 500,250,000 registered users September 2012 New users are signing up at the rate of 150,000 per day 180 million unique visitors come to the site every month Twitter users are, in total, tweeting an average of 55 million tweets a day this is more than 8,900 tweets per second Of Twitter s active users, 41 percent use their phone to tweet One in five (20%) tweets posted on Twitter contains some type of inquiry or information about a specific product or service that is brandrelated. (Study by a research team at Penn State University) Source: Twitter, September 2012 5
YouTube YouTube views exceed 4 billion per day March 2012 Nearly double the prime-time audience of all 3 major U.S. broadcast networks combined 60 hours of video are uploaded every minute The average person spends 15 minutes a day on YouTube More video is uploaded to YouTube in 60 days than all three major U.S. networks created in 60 years 70% of YouTube s traffic comes from outside the U.S. 13 6
What is Social Media Today Many different forms: magazines, Internet forums, weblogs, social blogs, microblogging, wikis, social networks, podcasts, photographs or pictures, video, rating and social bookmarking. By applying a set of theories in the field of media research (social presence, media richness) and social processes (self-presentation, self-disclosure) Kaplan and Haenlein created a classification scheme in their Business Horizons (2010) article, with six different types of social media: 1. Collaborative projects (e.g. Wikipedia) 2. Blogs and microblogs (for example, Twitter) 3. Content communities (for example, YouTube and DailyMotion) 4. Social networking sites (for example, Facebook) 5. Virtual game worlds (e.g. World of Warcraft) 6. Virtual social worlds (e.g. Second Life) Technologies include: blogs, picture-sharing, vlogs, wall-postings, email, instant messaging, musicsharing, crowdsourcing and voice over IP, to name a few. Many of these services can be integrated via social network aggregation platforms. Social media network websites include sites like Facebook, Twitter, Viadeo, Vkontakte, Hyves, Tuenti, Dreams village, Bebo, Daniel's World and MySpace. 14 Types of Social Media Types and Bacon Twitter Facebook LinkedIn Foursquare YouTube Instagram Pintrest Google+ LastFM I m eating bacon I like bacon I have skills including eating bacon This is where I eat bacon Watch me eat bacon Here s a vintage photo of my bacon Here s a recipe with bacon I work for Google and eat bacon I'm listening to music about bacon 7
Social Media Requirements: Hardware Software Application App Strategy? 16 Social Media Strategy Social Media enables a two-way conversation Therefore you need to align the intended audience with the relevant content to enable the conversation to begin 8
Honeycomb Framework of Social Media Identity: Extent to which users reveal their identities in a social media setting. Conversations: Extent to which users communicate with other users in a social media setting Sharing: Extent to which users exchange, distribute, and receive content. Presence: Extent to which users can know if other users are accessible. Relationships: Extent to which users can be related to other users. Reputation: Extent to which users can identify the standing of others, including themselves, in a social media setting. Groups: Extent to which users can form communities and subcommunities. Jan H. Kietzmann Understanding the functional building blocks of social media Simon Fraser University, Vancouver, BC, Canada 18 SECTION 1 The Honeycomb of Social Media Kietzmann, J.H., Hermkens, K., McCarthy, I.P., Silvestre, B.S., 2011. Social media? Get serious! Understanding the functional building blocks of social media. Business Horizons 54, 241-251. 9
LinkedIn s Focus Jan H. Kietzmann Understanding the functional building blocks of social media Simon Fraser University, Vancouver, BC, Canada 20 Facebook s Focus Jan H. Kietzmann Understanding the functional building blocks of social media Simon Fraser University, Vancouver, BC, Canada 21 10
YouTube s Focus Jan H. Kietzmann Understanding the functional building blocks of social media Simon Fraser University, Vancouver, BC, Canada 22 Foursquare s Focus Jan H. Kietzmann Understanding the functional building blocks of social media Simon Fraser University, Vancouver, BC, Canada 23 11
Social Media Campaign Workflow Social Media Campaign Workflow Overview Assess Your Project/Business Strategy Determine Who Your Target Audience Is Develop Your Offer Push Pull Select Social Media Platform: - Short Blog - Long Blog - Video - Audio - Image - Other Demographics - Age? - Gender? - Tech- Experience? - Income? - Education? Deploy The Strategy - (Push) Create and Maintain your Offers. - (Pull) Build and Promote your Valued Content Review Results (Data) To Determine Success & Re-evaluate 12
What is your strategic objective? Assess Your Project/Business Strategy Determine Who Your Target Audience Is Develop Your Offer Push Pull Select Social Media Platform: - Short Blog - Long Blog - Video - Audio - Image - Other Demographics - Age? - Gender? - Tech- Experience? - Income? - Education? Deploy The Strategy - (Push) Create and Maintain your Offers. - (Pull) Build and Promote your Valued Content Review Results (Data) To Determine Success & Re-evaluate Social Media Push Get users attracted to your to business by offering added value to only the social media followers. Example: Providing "secret" information or offers to online social media community. 13
Social Media Pull Create a media site that has "value" (generates interest) to attract participants. Value = like-interests, association, participation, shared opinions, feedback, useful information, notoriety Example: Maru the Cat from Tokyo, Japan became a social media phenomenon on YouTube then throughout social media. His videos have been viewed over 188 million times. Has gone onto publishing multiple books and DVDs. Who is Your Target Audience? Assess Your Project/Business Strategy Determine Who Your Target Audience Is Develop Your Offer Push Pull Select Social Media Platform: - Short Blog - Long Blog - Video - Audio - Image - Other Demographics - Age? - Gender? - Tech- Experience? - Income? - Education? Deploy The Strategy - (Push) Create and Maintain your Offers. - (Pull) Build and Promote your Valued Content Review Results (Data) To Determine Success & Re-evaluate 14
Who is Your Target Audience? What social media platform(s) best match your campaign needs? S.M. Type Objective S.M. App Reviews Getting information on object from user Yelp! LinkedIn, Flixster experiences Locator Locate objects that are desired Yelp! Music Find new music or premote your own music Last.fm, Soundcloud, MySpace, Playlist.com Picture Update people with images Flickr, Pintrest Location Keep track of locations and find other people s locations 4Square, Jiepang (china), FullCircle, hotlist Video Share audio/video media.. Youtube, Vimeo Community Create communities of individuals with like-interests Short-Text Short constant updates Twitter Long Text Long, thought out observations Audio Share music with common interest Podcasts Facebook, hi5, Google+, LinkedIn, Yammer Document Sharing resources/documentation Googe Docs, Dropbox, Curation Amalgamating all social media resources Scoop.it, storify, Pintrest, Demographics/Psychographics Who are you expecting to reach with these platforms? Figure out the Personas you need to connect with. Important Demographics to Consider: Age, Gender, Technological Know-How, Purchase History, Employment/Income, Location, Areas of Interest, Hobbies, Buying Habits, Artistic Taste, Cultural Interests, etc. SPECIFIC DEMOGRAPHICS IMPORTANT TO YOUR CAMPAIGN 15
Persona 1 Peter Age: 21 Gender: Male Technological Know-How: Strong Occupation: Student Purchases: Online Media (music, mags, movies...) Location: New York, New York Other: Jazz Music enthusiast who loves programming Persona 2 Marie Age: 51 Gender: Female Technological Know-How: Moderate Purchases: Running/Athletic Paraphernalia, Misc. house products Location: Madrid, Spain Other: Has two boys in their 20's. Coaches young runners as volunteer work. Develop Your Campaign Offer? Assess Your Project/Business Strategy Determine Who Your Target Audience Is Develop Your Offer Push Pull Select Social Media Platform: - Short Blog - Long Blog - Video - Audio - Image - Other Demographics - Age? - Gender? - Tech- Experience? - Income? - Education? Deploy The Strategy - (Push) Create and Maintain your Offers. - (Pull) Build and Promote your Valued Content Review Results (Data) To Determine Success & Re-evaluate 16
Develop Your Push/Pull Campaign Based on your demographics/psychographics, create promotions that will attract your specific audience and encourage them to share Maintenance and regular posting/interaction is important for keeping people interested Monitor the data of people coming in from social media to evaluate success and make continuous improvements Social Media & Print 17
Social Media and Web-to-Print Relationship Status = Engaged = Web-to-Print Photo Book 18
Integrated-Media: Print-Plus Value Chain Simultaneous deployment of the right media at the right time in the right form to the right person! Thank You! Q&A Chris Bondy Gannett Distinguished Professor Administrative Chair, School of Print Media Rochester Institute of Technology Christopher.bondy@rit.edu 585-475-2755 19