Why Socially Conscious Corporations See Better Return with Social Media
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Transcript of Why Socially Conscious Corporations See Better Return with Social Media
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"Why Socially Conscious Corporations See Better
Results With Social Media"
Sean WoodFounder / CEO, Freeworld Media
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About Freeworld Media
Digital Strategy for Social Business
Specialize in…
Atlanta-Based Digital Media Company started in 2004…
dedicated to helping brands connect with their audience.
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1. Social TechnologyA range of software systems that allow
users to interact and share data for
social purposes.
Social Media utilities like Facebook, Twitter, Blogs
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2. Social BusinessSocial technology is used to improve
business partnerships, employee
engagement and customer participation.
Enterprise 2.0, Collaborative Workflow
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3. Social ChangeSocial Media has empowered the voice of
the people to become louder.
U.S. Elections, Unrest in Tunisia, Egyptian Revolution
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A Whole New World
“Business as usual” isn’t working anymore.
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Everything is Connected
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What Matters
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“A business that makes nothing but money is a
poor business.”- Henry Ford
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Purpose• Business can create a deeper purpose beyond maximizing profits and shareholder value
• Business can’t survive without a profit but that’s not why it exists
• Discover or create a deeper purpose
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Trust & AttentionWhat matters in Social Media…
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Conscious Corporations• Have Respect for Consumers’ Power
• Create People-centric Culture
• Have a Purpose Beyond Profit
• Take a Sustainable Approach to Business.
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New Consumer Behavior
85% of consumers have a more positive image of a product or company when it supports a cause they care about
90% of consumers want companies to tell them the ways they are supporting causes. That means 278 million people in the U.S. want to know what a company is doing to benefit a cause
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Conscious ConsumersMoms Buy more cause-related products than any other demographic
95% find cause marketing acceptable
92% want to buy a product supporting a cause
93% more likely to switch brands
Millennials (18-24 years old)
94% percent find cause marketing acceptable
53% have bought a product benefiting a cause this year
87% influenced where to work by a company’s support of social or environmental issues
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People-Centric CultureEmployee Loyalty
69% of Americans consider a company’s social and environmental commitments when deciding where to work.
93% say they are proud of their company’s values
92% say they feel a strong sense of loyalty to their company
Brand AmbassadorsEmployees are the front-line ambassadors for the company’s brand.
79% of consumers say a knowledgeable employee may drive their purchases or donations.
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“100% of customers are people. 100% of employees are people. If you don't understand people, you don't understand business”
@SimonSinek 5:17 AM Jan 25th via Twitter
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Creative Commons image attribution:Unloveablesteve http://www.flickr.com/photos/unloveable/2396019222/
Scrunchleface http://www.flickr.com/photos/theta444/313403792/
Jukka Vuokko http://www.flickr.com/photos/jvuokko/4566270758/sizes/o/in/photostream/
Other References:Edelman Trust Barometer 2010
“ Good for Business, The Rise of The Conscious Corporation”
Euro RSCG
Cone Inc, Cause Evolution Study 2010