How Social Media is changing the way we do business
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Social media is changing how businesses operate in several ways: 1. It allows for small, multi-directional information sharing that people trust more because it comes from friends and contacts they follow. 2. Industries like marketing, communication, and knowledge sharing are particularly suited to social media because the platforms provide large, diverse environments to share information and understand trends. 3. Social media is transforming business models in these industries, shifting power from companies to consumers by allowing user-generated content and real-time sharing of preferences.
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How Social Media is changing the way we do business
- 1. How Social Media is changing the way we do business Tai Tran & Duy Doan 18 / 7 / 2009
- 2. 1. Social media's influence
- 3. Social media create new effects Business organization Small but mass & multi-directional
- 4. Receiving information via recommendation The news is broadcast and viralled through internet communities: forums, blogs, social networks Valued news are forwarded: retweet, reblog, post to Facebook, send link to friend list (1 to 300) I receive news from people I care about I trust the news, because I know these people Conclusion: Social media ensures values and authenticity of recommended information You People you follow Receive information you care about
- 5. 2. Which industries are suitable for Social media?
- 6. This is a vision
- 7. 2A. A few cases
- 8. 1. Communication & knowledge Because Social media offer environment, tools and niche ready to receive the information
- 9. 2. Market research Social media create a large & diversified enough environment to do demographics on 21 million internet users in Vietnam and growing Nearly 300 million Facebook users Users, under peer pressure, are willing to give away information, to show off (*) trungtâm Internet Việt Nam VNNIC, Bộthông tin vàtruyềnthônghttp://www.thongkeinternet.vn/jsp/trangchu/index.jsp
- 10. 2B. How Social media are changing the business models
- 11. Communication Event Event Blog Blogger Editing & publishing Reporter Reporter
- 12. Knowledge composition & sharing Encyclopedia Open encyclopedia The experts
- 14. Conventional Market researchPush research to clients Which do you prefer among these? Products Method: researcher ask the question(s) and receive feedback (Potential) client
- 15. Market research, powered by Social media I want an iPhone I want a Blackberry Gonna import a bunch of iPhones & Blackberries Social media tools Method: listen, narrow down and catch the trend
- 16. How to use Social media tools Ddemographics on social networks Examples "LivingSocial" application on Facebook Real-time trend on Twitter Search Create your own application on existing platforms: Facebook, Twitter, LinkedIn LivingSocial application on Facebook: Facebook users list their consumption preferences and invite their friends
- 17. 2C. How to use Social media effectively
- 18. 1. Communication & Knowledge For each vertical, the information should be relevant and trendy New information created News: economic stimulus Editor Self-viralled News: Yahoo! 360 shut down
- 19. 2. Automated market research
- 20. 3. Soxial media - the double-bladed razor
- 21. Areas in which social media should only pose limited interference Academic education Social media only viral academic knowledge Social media users should only create & viral knowledge in the area of their expertise Healthcare Social media only viral information Social media users should refrain from creating new, unauthorized information
- 22. Don't do it the wrong way Wrong purpose Wrong methods Examples Close-up http://www.facebook.com/pages/Na-Dolly/121257033351 Coca-cola P&G But they insist on with more campaigns
- 23. With Social Media When you do it right, the whole world knows :) When you do it wrong, the whole world knows :(
- 24. 4. Case study: the power of Social media
- 25. Michael Jackson You share your thoughts & feelings with Social media tools Blogs, social networks Those who share the same interest empathize with you Community knowledge: nice, thoughtful & thorough articles are not only on newspapers, but also on blogs and forums CNN & Facebook collaboratively allow you to watch and comment on the memorial live online Result: any netizen can participate in and contribute to the event Watch CNN, comment on Facebook live
- 26. Looking into the future
- 27. The best way to predict future ...is to create it, together
- 28. Tai Tran Independent Finance and Strategy Analyst www.taitran.com Duy Doan Product Manager, sannhac.com & i-pro.vn http://twitter.com/icememine 28