Online social networks allow individuals and organizations to connect through shared interests and form online communities. They have transformed business by enabling two-way conversations and shifting power to customers. While the technology has changed, human behavior has not as much. Some key facts: over 400 million active social network users, 50% log on to Facebook daily, and social media marketing is more effective than traditional broadcast marketing because people can now choose what and when to consume information. For businesses, it is important to set objectives, metrics, timelines and learn how to engage and participate in online social networks to build reputation, trust and facilitate sharing.

1. Online Social Networks for Business EAC Breakfast Club 11th March 2010

2. What are Online Social Networks?

3. What are Online Social Networks?

4. What are Online Social Networks?

5. A social network is a social structure made of individuals (or organizations) called "nodes," which are tied (connected) by one or more specific types of interdependency.

6. A social network is a social structure made of individuals (or organizations) called "nodes," which are tied (connected) by one or more specific types of interdependency.

8. What are Online Social Networks?

9. +Web 2.0

10. What is Web 2.0?

12. So What?

13. The internet is now more Social !

14. The Social Web

16. How has this changed business?

17. Monologues (one way) have become dialogues (many way conversations).

18. Power has shifted to Customers

19. More transparency

20. Wal-Marting across America

21. Easy to Share

22. Good news travels fast

23. Bad news travels even faster !

24. Dell Battery recall

25. People want to participate

26. The Technology has changed

27. But people have not (well not as much).

28. Some Numbers

30. More than 400 million active users

31. 50% of active users log on to Facebook in any given day.

32. More than 1.5 million local businesses have active Pages on Facebook

33. Pages have created more than 5.3 billion fans

34. More than 20 million people become fans of Pages each day

35. 1.34 million active users in Ireland

36. 1.2 Million over 18 years old

37. 50% use daily, Average time 57mins

38. Old Marketing Vs New Marketing

39. It is easy to...

40. to turn a page, turn a channel, switch off and ignore

41. The effectiveness of traditional marketing has been eroded due to consumers been able to ignore marketing messages, especially of the broadcast type. (Van Den Bulte and Wuyts 2007)

42. People are choosing...

43. what to consume.

44. when it suits them to consume.

46. Cost

47. Vs

48. Social Media ROI

50. What about my Business?

51. Set objectives in line with your business strategy

52. Set metrics for each objective

53. Set Time upfront and stick to it

54. Set boundaries between personal and business activities

55. Learn how to use Web 2.0 tools

56. Start listening

57. Engage and participate

58. Build reputation and trust

59. Facilitate sharing

60. Monitor and respond

61. Don’t forget the metrics

62. Connect with me

63. Twitter: @MarkCahillMark@socialbits.netMarkCahill@ConsultMark.iehttp://socialbits.nethttp://ConsultMark.ie/Blog http://ie.linkedin.com/in/markcahill Skype: MarkCahill.Ireland(087) 9497083