Social Business

Report
Understanding Social Business:
Social Media Engagement, Analytics, and Management
Ravi Vatrapu
Professor mso, Department of IT Management
Director, Computational Social Science Laboratory (CSSL)
Copenhagen Business School
Adjunct Professor of Applied Computing
Norwegian School of Information Technology (NITH)
Phone: +45-2479-4315
Email: [email protected]
Web: http://cssl.cbs.dk
Monday, 28-January-2013
T17: Social Media Analytics: Lecture 02
ITU: Auditorium 1
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OUTLINE
 The Internet Revolution
 Current Trends
 Business Transformations

Social Business



Social Media Engagement
Social Media Analytics
Social Media Management

Teaching (Courses, Case Books, & Supervision)

Software: SODATO (Social Data Analytics Tool)
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“Why companies should be on facebook”
What do you think?
because






it is there
everybody else is there
expected by customers
demanded by customers
hijacked by customers
business value
3
Trends
Ubiquitous & Pervasive Computing
Participatory Turn of the Internet
“Digital Natives” & “Digital Immigrants”
Digital Positivism
Civic Panopticon
(Vatrapu, 2008)
(Vatrapu, 2008)
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TECHNOLOGIES OF PRACTICAL REASON (F
OUCAULT, 1988)
Four Matrices of Practical Reason

Technologies of Production

Technologies of Sign Systems

Technologies of Power

Technologies of the Self
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Internet and Business
(Li & Leckenby , 2007)
 Vertical Integration of Channel Capacities



Communication
Transaction
Distribution
 Horizontal Integration of Marketing Communications




Advertising
Public Relations
Sales Promotion
Direct Marketing
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SOCIAL BUSINESS
 Doing Business on Social Channels
 Concomitant Convergence

Services: Local, Social, Mobile

Media: Owned, Paid, Earned

Interactions: My Place, Your Place, Our Place

Scorecards: People, Planet, Profit
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Part I: Social Media Engagement
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Internet’s Effect on Decision Heuristics
(Mishra & Olshavsky , 2005)
Impact on all Four Components of Consumers’ Choice Space:
1. Evaluation Strategies
2. Evaluative Criteria
3. Consideration Set
4. Image of Alternatives within the Consideration Set
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MARKETING AND EXCHANGE-1
(HOUSTON & GASSENHEIMER, 1987)
 Value


Potential for use
Potential for exchange
TAKEN FROM (HOUSTON & GASSENHEIMER, 1987)
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MARKETING AND EXCHANGE-2
(HOUSTON & GASSENHEIMER, 1987)
 Turning Exchange Events into Exchange Relationships
TAKEN FROM (HOUSTON & GASSENHEIMER, 1987)
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Part II: Social Media Analytics
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13
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SOCIAL BUSINESS CONUNDRUM
 Social Data
 Social Graph (Actors, Actions, and Artifacts)
 Social Text (Topics, Keywords, Pronouns, & Sentiments)

Social Data Issues



Key Performance Indicators (KPI)
Return on Investment (ROI)
Campaign Duration (3 days– 1 year)

Pre-Click vs. (Non)Click vs. Post-Click

What about House Data?
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SOCIAL MEDIA SCORECARDS
 Systematize the field
 Academic Rigour + Industry Relevance
 Knowledge-Creation + Problem –Solving
 “Meaningful and Actionable Insights”
 Include



“Ultraviolet” Social Data
Web Analytics
Integrate


House Data (social-CRM and such)
Training and Certification
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Part III: Social Media Management
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THE RELATIONAL VIEW
(DYER & SINGH, 1998)
Three Views on the Sources of Competitive Advantage:
1. The industry structure
(Porter, 1980)
 “supernormal returns are primarily a function of a firm's membership
in an industry with favorable structural characteristics (e.g., relative
bargaining power, barriers to entry, and so on)”
2. The resource-based view (RBV)

“differential firm performance is fundamentally due to firm
heterogeneity rather than industry structure”
3. The relational view

”Idiosyncratic interfirm linkages may be a source of relational rents
and competitive advantage”
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SOCIAL MEDIA STRATEGY-1
Taken from (Wollan, Smith, & Zhou, 2011)
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SOCIAL MEDIA STRATEGY-2
Taken from (Wollan, Smith, & Zhou, 2011)
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SOCIAL MEDIA AND EMPLOYEE EMPOWERMENT
Taken from (Wollan, Smith, & Zhou, 2011)
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SOCIAL BUSINESS: ORGANIZATIONAL ROLES
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Social Business Maturity
(Spondor, 2011)
Level 1: Monitoring
Level 2: Online Research
Level 3: Social Targetting and Data Management
Level 4: Social Business Collaborations
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TeachingResearch
 Courses
 Online Marketing (Fall 2009, Spring & Fall 2010, Spring 2011, Fall 2012)
 Social Media Analytics (Fall 2011, Spring & Summer 2012)
 Social Media Management (Spring, Summer, & Fall 2012
 Projects with real companies
 Jobs 
 Case Book
 Social Media Engagement
 Social Media Analytics
 Social Media Management
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NETWORKED BUSINESS FACT BOOK 2012
 Strategic Partnership
 Survey of Perceptions, Practices,
and Value Generation with Social
Media, Mobile, and Cloud
Computing
 2729 Respondents/Orgnaizations
 Private: 2432
 Public: 297
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Software: SOGATO
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Discussion
[email protected]
http://cssl.cbs.dk
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