Social Networks / Web 2.0

Prepared by : Leo Lisen BaiACC 626, Section 2

Brief Intro Marketing and CRM Internal Benefits Challenges and Drawbacks Security and Privacy Concerns Implementation – Overcome Challenges Closing Remarks

Agenda

Web 1.0 vs. Web 2.0

Importance

Opportunities

Brief Intro

Problems with traditional CRM mediums

Power of Web 2.0 technologies◦ Address problems, fast – Adidas◦ Collaboration◦ Superior customer experience and satisfaction

CRM

Customized Marketing

Brand Building◦ Target◦ Bank of America and ING Direct

Marketing

Low cost, effective marketing for small firms

Networking and employment opportunities for CAs

CAs and CA firms

Hiring

Innovation

Productivity and efficiency

Internal Benefits

Difficulty linking the effectiveness of social networks and increased profits

Web 2.0 – Unknown waters for many companies – failure of Walmart

Potential for negative customer experiences Insignificant improvements in learning and

innovation Threatens management control

Challenges and Drawbacks

Importance of keeping IT system secure and data private

Increasing attacks on social networking sites◦ Malicious apps on Facebook

Unauthorized access to data◦ Facebook◦ Twitter

Security and Privacy Issues

IT governance Monitoring Alignment between goals of the business

and Web 2.0 Detailed plan Dedication to maintenance

Overcoming Challenges

Significant Benefits

Risks can be reasonably managed

Unique opportunities in North America, as adoption rates are low

Potential for increased revenue and profits

Closing Remarks