1. Social media is moving from niche early adopters to mainstream use.
2. When social media is misused by "posers, miscreants, and felons" it can have negative consequences for companies and their brands.
3. CEOs are taking on new roles in directly engaging with customers and other stakeholders on social media, which allows for more authentic conversations but also requires careful management of their personal brands.
3. EXPLOSION OF SOCIAL MEDIA
Source: “Adults and Social Network Websites,” January 2009; Pew Internet & American Life Project
Social media is moving from the ‘digirati’ to the mainstream
8. THE FAKE STEVE JOBS
“I thought, wouldn’t it be funny if a C.E.O. kept a blog that
really told you what he thought? That was the gist of it.”
Dan Lyons to New York Times, 8/6/07
18. The CEO’s
Dilemma
Does it produce ROI?
Can it be measured?
Can its influence be demonstrated?
Can its power be demonstrated?
19. “For companies, resistance to
social media is futile. Millions
of people are creating content for the social
Web. Your competitors are
already there. Your customers
have been there for a long time. If your
business isn't putting itself out there,
it ought to be.”
B.L. Ochman, BusinessWeek, February 2009
24. THE AGE OF AUTHENTICITY:
“Pull” by the community
Employees
Analysts
Investors
Customers
Media
Bloggers
Partners
Academia
Phase 1: Listen
Phase 2: Prepare
Phase 3: Engage
31. “There's only one medium
where, theoretically, 2
million Americans could
get up off their chairs one
day and decide, ‘Damn it!
I'm going to do it!’” Joe
Trippi says.
“The Internet.”
From Joe Trippi's
Killer App by Linda Tischler
Fast Company, October 2003
32. “Other politicians I have met with are always
impressed by the Web and surprised by what
it could do, but their interest sort of ended in
how much money you could raise. He was the
first politician I dealt with who understood that
the technology was a given and that it could
be used in new ways.”
Marc Andreessen
Founder of Netscape
For lower-involvement brands (defined as products which are bought frequently and with a minimum of thought and effort), the correlation between ad spend and brand value is higher than the correlation between media prominence and brand value*.
The reverse is true for higher-involvement brands (defined as products for which the buyer is prepared to spend considerable time and effort in searching and evaluating brands), where the correlation is much stronger between media prominence and brand value than ad spend and brand value*. For High-Involvement brands, media attention contributed to Brand Value more than advertising
For complex products, such as technology products, the relationship becomes stronger:
Likely reason: The more complex the product, the more likely that the buyer will research the product category, looking for trustworthy information
The bottom line: 1) PR is a cost-effective marketing tool and delivers strong ROI; 2) A sizable amount of Brand Value is tied into media coverage; 3)Technology brands benefit more from PR than advertising.