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Getting Social in Times of Crisis

Getting Social in Times of Crisis. Levergaing Social Media to Manage Reputation and Keep Customers Happy. Source: Quotes as attributed. Artwork courtesy of TheFinancialBrand.com. Case Study: AIG. Case Study: AIG. Situation Big target Angry mob Misperception of the truth

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Getting Social in Times of Crisis

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  1. Getting Social in Times of Crisis Levergaing Social Media to Manage Reputation and Keep Customers Happy

  2. Source: Quotes as attributed. Artwork courtesy of TheFinancialBrand.com

  3. Case Study: AIG

  4. Case Study: AIG • Situation • Big target • Angry mob • Misperception of the truth • But no plan on how to handle the online fall out • Take-aways • Understand the power of the social media space • The best defense is a strong offense • Have a crisis management plan that includes social media

  5. A Rapidly Changing Communication Landscape Economic, social, and technological trends are collectively forming the basis for the next generation of the internet - a more mature, distinctive medium characterized by User Participation, Openness, and Network Effects. Institutional Control ConsumerControl Push/Publish Listen/Collaborate

  6. A Rapidly Changing Communication Landscape Economic, social, and technological trends are collectively forming the basis for the next generation of the internet - a more mature, distinctive medium characterized by User Participation, Openness, and Network Effects.

  7. Channels Blogs Discussion Boards Wikipedia Web Services AJAX Widgets/Gadgets RSS Open – Source Social Networks Virtual Worlds Contextual Media Search Mash-Ups Pod Casting (A/V) Viral Instant messaging Personalization Alerts Streaming Media Directories Reviews Polls An Evolution Not A Revolution

  8. Taking Part in the Conversation • Dialogue, not Monologue • Social media must facilitate two-way discussion, discourse, and debate with little moderation. It must be OPEN to everyone. • Honesty and Transparency • Social media is often a painfully candid forum. Attempting to control, manipulate, or spam a conversation can backfire. • Pull, not Push • eMerging Media lets people pull the content that they want, instead of having it forced upon them by an external entity. • Distribution, not centralization • eMerging media (content and applications) is highly distributed and made up of many voices making it far more textured and rich than “old” media.

  9. Who Is Using Social Media?

  10. Who Is Using Social Media? Social network and blogging sites (Member Communities) are now the fourth most popular activity on the Internet Source: Nielsen Online, Global Index, December 2007 – December 2008. E.g. In Dec 08 the Search sector reached 1.9% (points) more of the world’s online population than it did in Dec 071 ‘Global’ refers to AU, BR, CH, DE, ES, FR, IT, UK & USA only

  11. Who Is Using Social Media? Social Networking Site Users in Select Countries in Latin America Source: comScore World Metrix as cited in a press release on November 19, 2008

  12. Who Is Using Social Media? Source: Altimeter/Wetpaint ENGAGEMENTdb study of the social media engagement of the top 100 brands, July 2009

  13. Social Media Engagement Correlates to Financial Performance Source: Altimeter/Wetpaint ENGAGEMENTdb study of the social media engagement of the top 100 brands, July 2009

  14. Guide to a Well-thought-out Social Media Strategy • Be proactive • Don't start during a crisis – it's already too late • Nothing is wose for your reputation than desperation • Know your audience • Who are they, where are they, what are they saying, what do they care about, who influences them? • Listen for a whiile with Conversation Monitoring • Know Yourself • What will you use Social Media for and why? • Public Relations, Customer Service, Loyalty-building, Collaboration, Networking, Thought Leadership, Customer Acquisition? • What are the business goals and objectives? • How will you measure success?

  15. Guide to a Well-thought-out Social Media Strategy • Be Transparent • Honestly is the best policy and the truth shall set you free • Provide Value • No matter what the strategy, people won't engage unless they get something out of it • What can you give customers in exchange for what you want • Measure, Collect, Analzye, Adjust • Create a specific plan for measuring success • It's not always new accounts, but it sure can be • Collect data and review and then reinvest the learing • Almost everything is trackable, recordable, measureable

  16. Case Study: Eastern Bank

  17. Case Study: Arizona Central Credit Union

  18. Case Study: Wells Fargo

  19. Case Study: Bank of America

  20. Case Study: HSBC

  21. Start with the Basic Tactics • Conversation Audit • Twitter • Facebook, Bebo, Hi5, LinkedIn • Blog

  22. Thank You.

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