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10_– 12 October 2011, Vienna, Reed Messe Wien Session: Innovative Advertising Title: Social networks in the media, the strategic imperative Speaker: Benjamin Ruschin MSc, Digital Head and Board Member, straberger conversations gmbh, Austria Media Port

Social networks in the media, the strategic imperative

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Page 1: Social networks in the media, the strategic imperative

10_– 12 October 2011, Vienna, Reed Messe Wien

Session: Innovative AdvertisingTitle: Social networks in the media, the strategic imperativeSpeaker: Benjamin Ruschin MSc, Digital Head and Board Member,straberger conversations gmbh, Austria

Media Port

Page 2: Social networks in the media, the strategic imperative

1 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA

Benjamin Ruschin | Digital Head

[email protected] | www.conversations.at

social networks in the media industry the strategic imperative

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2 © straberger conversations gmbh 12. October 2011 @ WAN-IFRA

agenda

•  the emerging opportunity •  the status quo •  best practice case study •  the strategic imperative

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the emerging business opportunity

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the emerging business opportunity

what are the key challenges confronting media providers?

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key challenges

•  competing for users‘ time

Source: Nielsen, NetView, June 2011

Germany

 facebook users (25 million uniques!) spend an average of 5 hours/week on facebook

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key challenges

•  competing for users‘ time •  unpredictability & constant change •  lack of proven best practices •  difficult to set a strategic direction

–  Sales? Paid content? Ads? Profits? Business model?

 how do we deal with this?

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how are news media providers approaching social?

operational level

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operational level

•  social distribution •  social customer relationship management •  social commerce

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social distribution

•  social content posts

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social distribution

•  social plugins

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social customer relationship management

•  social interaction with customers

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social customer relationship management

•  open graph interface

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social commerce

•  selling paid content via facebook (apps)

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social commerce

•  selling paid content via facebook

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how should news media providers approach social?

strategic level

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best practice case study

•  “social media for print“ project driven by top level •  strategic in-house driver “media innovation lab“ •  corporate budget to explore social networks •  goal: find viable social business models for print media

–  build sustainable customer relationship through dialog –  strengthen each brand individually

•  individual goals/KPIs for each brand (contextual) •  accountability: each brand has a social champion

responsible for reaching pre-defined KPIs

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best practice case study

•  knowledge transfer: knowledge gained by each magazine/newspaper is crowdsourced and transfered –  monthly “social media meet-up“ => champions get together –  knowledge formalized => handbooks & training

•  attempt to build a core competence in the social domain by learning & institutionalizing the knowledge

•  exploration: mindset geared towards experimenting rather than generating immediate ROI

•  assessment: milestones & KPIs (not financial goals) •  time horizon: long-term (not short-term)

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best practice case study

examples

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best practice case study

examples

campaign • facebook campaign: searching for the may covermodel (facebook app) results • >8000 applicants • >34000 voters participated • fostered engagement & participation • strengthened customer relationships

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best practice case study

examples

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best practice case study

examples

campaign • royal wedding: facebook & twitter campaign – regular updates posted results • print sales 51% above the average (highest sales since 2003) • web traffic from facebook & twitter increased seven-fold!

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the strategic imperative

•  put social on the top-level agenda (CEO‘s back-up) •  financial resources: designated budget for social

(corporate innovation fund) •  people: carefully selected champions & innovators •  time horizon: long-term (not short-term) •  activities: exploratory (not revenue-generating) •  assessment: milestones (vs. short-term ROI) •  goals: find viable business models within timeframe

(strategic business building)

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the strategic imperative

•  knowledge: crowdsource, transfer, institutionalize •  leverage systemic processes for innovation

– separate business unit (structural ambidexterity) –  contextual ambidexterity (80:20 rule) – cross-functional groups / communities of practice

  top-management commitment  business models tailored to each brand   focus on creating the required PRE-CONDITIONS

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thanks for your attention get in touch!

Benjamin Ruschin | Digital Head

[email protected] | www.conversations.at