The Corporate “Social” : The Mess and Promise of Social Networking. Access in Business and 10 Best PracticesNarrated by:Debbie Buckeye, Paul Mordue,Joe Thibault, and Natasha BuntenManagement Information SystemsDr. Pratim DattaGraduate School of ManagementKent State University9/18/2010 : 1 The Corporate “Social” : The Mess and Promise of Social Networking. Access in Business and 10 Best PracticesNarrated by:Debbie Buckeye, Paul Mordue,Joe Thibault, and Natasha BuntenManagement Information SystemsDr. Pratim DattaGraduate School of ManagementKent State University9/18/2010
Social NetworkingPrior to 2007 : 2 Social NetworkingPrior to 2007 Personal Use Few Businesses
www.MybarackObama.com : 3 www.MybarackObama.com
www.MybarackObama.com : 4 www.MybarackObama.com Text messages, networks, wikis, and blogs
Raised the most money in a presidential history
Establishing online community with voters
Legitimized social networking
Since 2007Growth for Twitter, Facebook, YouTube, Linkedin, and Others : 5 Since 2007Growth for Twitter, Facebook, YouTube, Linkedin, and Others
Social Networking : 6 Social Networking Powerful business tool
Do more with less
Need to increase profitability
Same or less resources
What are the benefits of social networking? : 7 What are the benefits of social networking?
Training : 8 Training Just-in-time
Webinars
Forums
Expertise
Talent : 9 Talent Larger talent pool is available Using Social Media for Recruitment
Projects : 10 Projects Project teams global
Matching skills and expertise with project needs
Builds Relationships : 11 Builds Relationships Increases frequency of interactions
Share information
Collaborate
Attract “Millennials” : 12 Attract “Millennials” Generation born after 1981
Currently 22% of workforce
Projected: 46% of workforce in 2020
Shaping the future
Expect access to social networking tools
Marketing & Advertising : 13 New avenues and opportunities
2 billion internet users worldwide
Asia: most users 825 million
US: largest percentage 77%
Markets brought to your desktop
Ad costs can be cheaper Marketing & Advertising
Create “Buzz” : 14 Create “Buzz” Apple – iPhone 4 & iPad
Google – Android
Gauge interest and concerns
Forums attract consumer masses
Understand marketplace
Risks and Costs Surrounding Social Media : 15 Risks and Costs Surrounding Social Media
Staffing Costs : 16 Staffing Costs Will require a social media manager
Training
Salary
Benefits
A larger campaign will require more staff
Software Purchases : 17 Software Purchases Track progress of the campaign
Annual licensing fee
Upgrade fees to the software
Cyberslacking : 18 Cyberslacking 50% of all Internet activity taking place at work is not business related
One fifth of work hours are on personal activities
40,000 hours wasted in a company of 100
Data Theft : 19 Data Theft Ease of access to data
Brand Jacking and cyber-squatting
Intentional use of trademark names a. Illicit sights b. Counterfeit goods
450,000 cybersquatting sites in top 30 global brand companies
Loss of sales and margin
Brand loyalty
Other Miscellaneous Risks : 20 Other Miscellaneous Risks Involuntary information leakage
Targeted attacks
Phishing
Malicious software
10 Best Practices for Implementing a Successful Social Media Campaign : 21 10 Best Practices for Implementing a Successful Social Media Campaign
1. Define your goals2. Commit a. Make the leap of faith b. Commit at all levels3. Establish Policies a. Define clear guidelines b. What is allowed c. Marry with goals : 22 1. Define your goals2. Commit a. Make the leap of faith b. Commit at all levels3. Establish Policies a. Define clear guidelines b. What is allowed c. Marry with goals 10 Best Practices
4. Conduct Security Audits a. Adhere to a schedule b. Process and timetable c. Ensure execution5. Manage a. Allocate appropriate resources : 23 4. Conduct Security Audits a. Adhere to a schedule b. Process and timetable c. Ensure execution5. Manage a. Allocate appropriate resources 10 Best Practices
6. Communicate a. Establish process for information sharing7. Keep records a. Stay ahead of regulation b. Legal protection : 24 6. Communicate a. Establish process for information sharing7. Keep records a. Stay ahead of regulation b. Legal protection 10 Best Practices
8. Train9. Adapt10. Invest : 25 8. Train9. Adapt10. Invest 10 Best Practices
Social Networking has Changed the Way the World Does Business : 26 Social Networking has Changed the Way the World Does Business
Social Networking has Changed the Way the World Does Business : 27 Social Networking has Changed the Way the World Does Business