Let’s Talk Social Networking: Gold Mine or Land Mine?

NYC MeetupMarch 15, 2011

Presented by:Stephen Lowisz, Author & Educator

What is the h&## is Social Media?

Social Media?

Typical

ViewPicture

The Big

• The interaction between a group of people who share a common interest; Using social contacts to network; Using internet's network groups (such as Facebook and Twitter) to network and communicate between consumers and businesses

• The process of building online communities, often accomplished both through 'groups' and 'friends lists' that allow greater interaction on websites. Find out more about social networking.

DefineThe Term Social Media:

Steve’s Definition of The Term Social Media.

Social media is a category of online media where people can develop relationships and have a conversation online, often creating a lasting product - W.O.M.

Look who’s talking:•Your Customers•Your Employees•Your Investors•Your Critics•Your Fans•Your Competition•Your Candidates•Anyone who has internet access and an opinion!

The Question:Is Social Media a Fad?

Characteristics:

• If Facebook were a country, it would be the third most populated in the world, ahead of the United States.

• 500 Billion. The number of minutes spent on Facebook per month.

HUGE.#1: Social Media

is

Only China and India are more populated.

Last year, That number was a measly 150 billion.

• 25 Billion. The amount of content (web links, news stories, blog posts, notes, photos, etc.) shared each month on Facebook.

That’s more than 6X last year’s volume.

Characteristics (cont.):

• 500 Billion. The number of peer influence impressions Americans generate per year via social media.

• 24 Hours. The amount of video uploaded to YouTube every minute.

HUGE.#1: Social Media

is

62% of those impressions come from Facebook.

That’s more than double last year’s volume.

• 27 Million. The average number of “tweets” per day on Twitter.That’s more than 8X last year’s volume.

Social Media Influences People:

• 91% say consumer reviews are the #1 aid to buying decisions.

• 87% trust a “friend’s” recommendation over a critic’s review.

• 3 time more likely to trust peer opinions over advertising for employment decisions.

• 1 word-of-mouth (W.O.M.) conversation has the impact of over 30 TV/Radio/Print ads.

• #1 source of corporate research for potential employees are blogs, tweets and electronic alumni groups (84%).

#2: Social Media is EFFECTIVE.

People are Using Social Media:

• Social networking has surpassed email as the number one way to communicate electronically. (Morgan Stanley)

• Facebook exceeded 500 million users in 2010.

• 60% of the US online users use social networks monthly.

• 68% of US online users read blog.

• 23% of US online users publish a blog.

• 19% of US online users use RSS feeds.

• 33% of US online users post rating/reviews.

• 31% of US online users regularly update status on social networking sites.

#3: Social Media is MAINSTREAM.

Social Media:Why do we fear it?

Afraid of what we might find!

Afraid of What We Find.

Social Media

More comfortable with this?

Legal Hazards.Social Media

What Information Can We Find?

•Contact Information

•Education

•Employment History

•Licenses & Certifications

•Awards & Honors

•Technical Skills & Abilities

Legal Hazards.Social Media

What Information Can We Find?

•Photos

•Gender

•Race

•Birthday

•Sexual Orientation

•Relationship Status

•Political & Religious Views

The Conversation Shift

The power to define and control a brand, including an employment brand, is shifting from corporations and institutions

Social Media

to individuals and communities.

Can We Measure ROI?

“What’s the ROI for putting on your pants every morning? I don’t know, but I know its still important to my business!”Scott Monty, Digital Communications at Ford Motor

Social Media

Can We Measure ROI?

Social Media is not freeResources required may include:

•Strategic consultation

•Training

•Creating content

•Integrating tools

•Distributing content

•Relationship management

•Measuring value

Social Media

Social MediaEmployee Productivity

Social MediaEmployee Productivity

The 3 Myths

•Blocking will increase the productivity of the employee.

•We will save money since our employees are wasting the bandwidth.

•No issues with downloading inappropriate content.

Social MediaEmployee Productivity

Social Tools and Disruptive Technology?

•Managers were afraid Excel would stimulate workers to make sports or grocery lists during work hours.

•You only block internet access when you are afraid to talk with your employees about their behavior.

•Preventing behavior does not solve your problems, it will only prevent them for a short period of time!

•In a world full of mobile devices, social networking can happen 24/7 from the board room to the bathroom!

Social MediaLoosing Control

• You have already lost control! Employees are using social media today. Conversations are happening – why not be part of them?

• Convergys Study – Each unaddressed, negative review of a product or employer on Facebook, YouTube, or Twitter can cost an organization more that 30 customers or candidates.

“If you don’t focus on building your brand through social media, someone else will!”

Social Media:What we get wrong…

What we get wrong…

• Silver Bullet Syndrome.

• Focus only on “taking” from the community without giving.

• Expecting longterm immediate results.

• Not adding the right resources.

• Not leveraging your employees as corporate ambassadors.

• Using Social Media only as a source and not a strategy.

Social Media

Social Media:How do we leverage it?

How To Leverage

Social Media

Key Steps1. Understand your audience.

• Who is using social media?

• What tools are they using?

• How are they using those tools?

2. Engage with others.

• Update status messages daily

• Start debates within groups

How to Leverage

Social Media

Key Steps2. Engage with others. (cont.)

• Answer questions on Q&A boards within groups you belong to

• Have a complete profile – blog feed, videos, e-books, articles, presentations, etc

3. Take advantage of groups.

• Join appropriate user and industry groups – show you understand the industry

• 2 common mistakes

Become part of a group and fail to participate

Primarily join groups where there are other recruiters

How to Leverage

Social Media

Key Steps4. Create a Community!

• Create your own community of followers

• You are in charge of the content posted and can dictate the message

5. Consistently create and distribute content.

• Give to the community, don’t just take

• Consistently provide tips, tools, resources and articles

Connect with me:

steve@stevelowisz.comwww.Linkedin.com/stevelowiszwww.Twitter.com/slowisz

Office (734) 521-2800

Stevelowisz

.com

Social Media:Future Trends….

What to Measure:

• Sourcing Channels

• Recruiter Efficiency

• Candidate Satisfaction/Experience

• Hiring Manager

Satisfaction/Experience

• Quality of Hire/Productivity

• Efficiency Ratio

Future Trends

Location Based Identification

Preference Based Marketing

• Consumer Specific Marketing

• Candidate Specific Career Marketing

Instant Communication

• Not Instant Messaging

• Google Wave