Social Media Chartered Secretaries Australia Steven Smith Director, Advisory KPMG twitter: @stevenrsmith100 June 2012

Social Media

Chartered Secretaries Australia

Steven SmithDirector, Advisory KPMGtwitter: @stevenrsmith100

June 2012

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Agenda



Why the hype?



Why the hype?

World’s most avid users of social media based on

hours Social media is the # 1

online activity for Aussies

10.9 m Facebook1.9 m Twitter2 m LinkedIn

9.9 m YouTube

Infrastructure & devices are driving

an increase in online engagement



Why the hype? ... one year ago....

Here is how the social web dealt with the death of Osama Bin Laden – as reported by mashable.com

the social web




• 5,106 tweets per second before Obama’s speech

• 27,900,000 tweets in 2 hrs 35 mins




“Within about two hours ….a Facebook Page titled “Osama Bin Laden is DEAD” had accumulated more than 150,000 “likes.”

Source: mashable.com






Why the hype?

• 48% of 18-34 year olds check FaceBook when they wake up

• 750 million photos were uploaded to FB over New Years Eve 2011

• 57% of people talk to people online more than they do in real life



Why the hype?

advocacy by your customers on your behalf will take your business to the next level.

consumer expressions...

“To us, an expression is any level of engagement with our brand content by a consumer or constituent.’Joe Tripodi, Executive Vice President and Chief Marketing and Commercial Officer of the Coca-Cola Company.



Why the hype?

Accept that customers can generate more messages than you ever could.

Accept that you don't own your brands, your consumers do.

Develop content that is liquid (Web and SM) and linked to your brand strategies and business objectives.



Why the hype?

it’s cheaper to fish where the fish are



Why the hype?

AU$18.40

AU$16.00

AU$5.15

54,000

62,000

182,000

8.3 million

How many transactions if the budget was $1m??Cost /transaction

AU$0.12



Why the hype? – not everyone is buying the hype

• 62% of online Australians use social media

BUT.... the % of businesses with a SM presence is way behind..

• 14% of small businesses

• 25% of medium-sized businesses

• 50% of large businesses

The Sensis Social Media Survey (May 2011)



Why the hype?

Use SM to: •share•articulate•express •contribute•learn•educate •influence•promote•sell

SM is:•it’s what your customers are using•relatively cheap – but not free•it’s instant access to customers •is more mobile than the Web

SM is a brand tool:•organisational exposure•learn from customers•customers become your advocates•increases online footprint



Agenda



Managing the risk – recognising what stage you’re at

Est. % of our clients today50% 40% 10%



Managing the risk – identifying the risks

What are the risks?

time and $ lost in crisis

managementnot learning from your customers

cost of playing

catch-up

losing marketing

opportunities

Reputation damage

losing customers to competitors

who are in SM



Managing the risk – identifying the risks

Brand and image is the most concerning element keeping CEO’s up at night.

AON Survey



Managing the risk – have a SM policy

1. Be honest about who you are2. Make it clear that the views expressed are yours3. You speak for yourself, but your actions represent the company4. Use your common sense5. Play nice6. The Internet is a public space7. The Internet remembers; “what happens in Vegas...stays on Google“8. An official response may be needed9. Respect the privacy of offline conversations10. Same rules and laws apply: “new medium, no surprise”11. When in doubt, ask

“3 Rs” of social media engagement:

RepresentationResponsibilityRespect



Managing the risk – have a response plan

1. who – staff responsible

2. how – tools and techniques for monitoring

3. what – list Web activity to watch and what to look for

4. when – frequency and range of monitoring

5. intervention – how to intervene, timing and what to say

6. reporting– how, when and to whom to report actions

7. improving – follow-up to the intervention, adjust action plan

Have a SM action plan detailing how you will respond to adverse comments in social media.



Managing the risk - taming the bad

22

• it takes time to humanise and personalise traditional ‘business speak’ for social media

• understand the audience and get feedback

• experimentation and learning never ends – audience expectations grow, tools emerge, disappear and change



Managing the risk - taming the bad

Summary

23



Agenda



Digital trends – it will get uglier out there

25



Summary

26

While social media usage and applications will continue to evolve over the coming months and years, three things are certain:

•It’s only going to get bigger.•No business can afford to ignore it.•And, you won’t fool the children of the revolution.

The Sensis Social Media Survey (May 2011)



To download the research report:

Go to www.kpmg.com.au

Search on ‘social media voyage’

For more information please contact:

Steven SmithDirector, AdvisoryEmail: [email protected] Twitter: stevenrsmith100

Download our latest Social media report

Documents

Social Media Chartered Secretaries Australia Steven Smith Director, Advisory KPMG twitter: @stevenrsmith100 June 2012