Social Networking

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The Corporate “Social” : The Mess and Promise of Social Networking. Access in Business and 10 Best Practices Narrated by: Debbie Buckeye, Paul Mordue, Joe Thibault, and Natasha Bunten Management Information Systems Dr. Pratim Datta Graduate School of Management Kent State University 9/18/2010 :

1 The Corporate “Social” : The Mess and Promise of Social Networking. Access in Business and 10 Best Practices Narrated by: Debbie Buckeye, Paul Mordue, Joe Thibault, and Natasha Bunten Management Information Systems Dr. Pratim Datta Graduate School of Management Kent State University 9/18/2010

Social Networking Prior to 2007:

2 Social Networking Prior 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 2007 Growth for Twitter, Facebook, YouTube, Linkedin, and Others:

5 Since 2007 Growth for Twitter, Facebook, YouTube, Linkedin, and Others 2007 to 2008 users of social media grew 75% 2007 to 2008 Twitter grew a stunning 752% January 2008 Twitter 500,00 monthly visitors December 2008 Twitter more than 4.4 million monthly visitors

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 goals 2. Commit a. Make the leap of faith b. Commit at all levels 3. Establish Policies a. Define clear guidelines b. What is allowed c. Marry with goals :

22 1. Define your goals 2. Commit a. Make the leap of faith b. Commit at all levels 3. 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 execution 5. Manage a. Allocate appropriate resources:

23 4. Conduct Security Audits a. Adhere to a schedule b. Process and timetable c. Ensure execution 5. Manage a. Allocate appropriate resources 10 Best Practices

6. Communicate a. Establish process for information sharing 7. Keep records a. Stay ahead of regulation b. Legal protection:

24 6. Communicate a. Establish process for information sharing 7. Keep records a. Stay ahead of regulation b. Legal protection 10 Best Practices

8. Train 9. Adapt 10. Invest:

25 8. Train 9. Adapt 10. 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 2007 American adult social media users 56% 2008 American adult social media users 75% Businesses who want to connect with customers need to follow them online More than half of Fortune Global 100 companies have active Twitter accounts and Facebook fan pages

Social Networking has Changed the Way the World Does Business:

27 Social Networking has Changed the Way the World Does Business Correlating companies’ social media engagement and higher profits Organizations shift into social networking if they want to stay competitive

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