Examining the phenomenon, its relevance, promise and risks A smashLAB White Paper by Eric KarjaluotoMarch 1, 2008
A Primer inSocial Media
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smashLAB White Paper
: A Primer in Social Media
An introductionto social media
Background
In the past, broadcasting was limited tothose with the nancial resources to accessmass media. The emergence of low-costand highly accessible communication tools,however, has changed all of this. Now,anyone with an internet connection hasthe ability to share their message with aworldwide audience.
What is social media?
The term “social media” represents mediathat users can easily participate in andcontribute to. Forms of social media includeblogs, forums, virtual worlds, wikis andsocial networks.
What characterizes social media?
Although denitions vary, a few keycharacteristics are common amongst socialmedia platforms. Most of these propertiesthrive on the notion of participation andmaking connections. Part of this is informedby the notion of a at community, inwhich all parties engage in open dialogue.Inuence and credibility are prized in thisarena, as the user’s reputation can often bea key motivator for one to remain active inthe dialogue.
How it’s different
Perhaps the biggest difference betweentraditional media (newspapers, television,radio, books, etc.) and social media is thedynamic and exible nature of the latter.Social media can change with time andbe edited by the author and, in some cases,the community. Likewise, the audience caninteract with and republish social media. Itlends itself to being archived, indexed bysearch engines, and shared by users inmany ways.
Why it’s important
Although there are many reasons why socialmedia is notable (which we will address laterin this document), there is one reason thatstands above the rest: the people. Socialmedia brings with it the power of every useron the planet. Its growth and future potentialis enormous...................................................................
Consider that there are:
(at the date of this paper’s preparation)• 112.8 million blogs tracked on Technorati
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• 66 million users on Facebook
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• 72.6 million videos posted on YouTube
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..................................................................
What it means for companies
Traditional marketers are accustomed tocarefully honing messages. This allowsfor control, but the results are difcult andcostly to measure. Social media turns thiswhole scenario around. With it, control isshared with the crowd, and real feedbackbecomes immediate.Organizations now have the opportunityto collect detailed information on usersand their habits, elicit real feedback andsuggestions, and rene their offering and
Executive Summary:
Social media represents a broad changein how people communicate with one another. This is excitingfor businesses as it presents new channels and methods of reaching consumers. As such, early adopters have encounteredboth successes and failures in developing strategies thatincorporate this new paradigm. smashLAB advises groups toremain strategic and pragmatic in employing social media.
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smashLAB White Paper
: A Primer in Social Media
messaging to better suit user demands. Although there are trade-offs with this newway of communicating, the opportunitiesfor companies to understand and work withtheir customers have never been as great.
Social mediain action
REAPING THE REWARDS
A few organizations have experiencedsuccess in employing social media. Somecompanies have even been fortunateenough to have their brands championedwithout their involvement.
Fountains of publicity
In September 2005, Steve Spangler made atelevision appearance in which he droppeda Mentos candy into Diet Coke, resultingin a “cola geyser”. A video of this waslater posted on YouTube, inspiring morethan 12,000 similar experiments, mostfamously “The Extreme Diet Coke & MentosExperiment”.
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Pete Healy, Mentos U.S. VPof Marketing, estimated the value of thebuzz generated by the effort to be “over$10 million.”
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A little less evil
After joining Microsoft in 2003, RobertScoble started blogging about thecompany. While promoting certain products,he also publicly criticized his employer andeven applauded their competitors. He wasincredibly open with his audience, evenencouraging them to call him in personwith problems they were experiencing.
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Asa result, he shifted public opinion aboutthe organization. “[He] has also succeededwhere small armies of more conventionalpublic-relations types have been failingabjectly for years: he has made Microsoft... marginally but noticeably less evil to theoutside world...”
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March of the Penguins
Washington, D.C.-based moms Gretchen Volgenzang and Paige Heninger run
Fritz Grobe and Stephen Voltz’s “Extreme Diet Coke& Mentos Experiments” have been viewed online byapproximately 20 million people.
Source: www.eepybird.com
Figure 1: Social media’s infuence on IT purchasers
ITtoolbox Surveyed 400,000 of its members, to learn what aspects of social media IT decisionmakers and inuencers found most valuable in relationship to purchasing.
53%
Provides access toobjective feedback onproducts and servicesfrom multiple sources
Source: ITtoolbox/PJA IT Social Media Index: Inaugural Survey Results: June 7, 2007
12%
Offers more accurate informationon news and trends
11%
Provides information tostay ahead of competition
24%
Offers the ability to participatein conversations with peers
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Primer in Social Media
Examining its phenomenon, it's relevance, promise and risks.
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