Social Networking

Importance, Trends, & Challenges. Faculty: Dr. Somnath Mitra

Presented By :Krishan M Jaiswal, Roll No:S40

How social Networking is important?

Unlike traditional media, which offers a one-way experience (in which media outlets broadcast information for public consumption), social media offers a two-way interactive experience. Consumers of social media. Unlike consumers of traditional media, can interact instantly and directly with either the originators or the authors of the proffered information. They can interact with each other, too. The interaction and cross-communication that social media makes possible is precisely what makes social media so world-changing. Perhaps most surprising, social media has been an enabler of grassroots revolution in countries where such an event seemed impossible. As a case in point, look at the impact of social media on the governments of Colombia, Egypt, Indonesia, Iran, Libya and Tunisia, to name but a handful. In summing up this trend, author David Kirkpatrick in his book, The Facebook Effect, observed that the large scale broadcast of information was formerly the province of electronic media -- radio and television. But the Facebook Effect -- in cases like Colombia or Iran -- means ordinary individuals are initiating the broadcast. You dont have to know anything special or have any particular skills. www.acegroup.com/.../ace-progress-report-social-media... - United States

Trends of usage for SNS.!

Facebook: Facebook has 845 million active users There are 2.7 billion likes/comments per day Twitter: There are over 465 million Twitter accounts Twitter is growing at a rate of 11 accounts per second 30% of twitter users have an income over $100,000. Shopping: 2 out of 3 are likely to visit a mobile site One out two mobile shoppers share their shopping experience on social networks You Tube: One hour of video is uploaded to YouTube every second . YouTube sees four billion video views globally every day Mobile Statistics: There are more iPhones sold per day (402k) than people born in the World per day (300k) Users accessing the web through mobile devices has almost doubled every year since 2009

http://thesocialskinny.com/

What CEOs think about SNS..?

IBMs recent survey reveals that 16% CEOs currently participating in social media. the percentage will likely grow to 57% within 5 years and, in fact, social media will become one of the two most important forms of engagement with employees and customers, second only to face to face interactions. Especially large company CEOs are finally realizing that using social technologies to engage with customers, suppliers, and even with their own employees enables their companies to be more adaptive and agile. In many respects, social media is becoming the "universal university" that allows all of us to learn from each other through comments, feedback and spirited dialogues, even when we may not agree.

blogs.hbr.org/cs/2012/07/new_research_on_why_ceos_shoul.html

How Functional productivity can increase with use of SNS..?

Branding: Branded Fan Pages on Social Networking Sites (to establish a social media presence on Facebook, Twitter, YouTube, and Flicker. Crisis Management: Quick Online Response to rumours and negative Perceptions (social media is ideal for countering negative viral news about a company)

HRM:
Employment Practices (human resources departments increasingly make use of social media -- particularly LinkedIn and Facebook to gather information when making hiring and promotion decisions). Customer Service and Feedback (companies set up blogs to communicate product development information and gather comments from consumers; companies also use Twitter for customer service and feedback: for instance, Best Buys Twelpforce Twitter account11). Promotions and Contests (encourage site members to engage with a companys products or services). Word-of-Mouth Marketing via Blogs (companies provide their products to popular bloggers with big reader audiences, hoping for a favourable review; but a number of risks have developed in this area, including FTC disclosure requirements, as in the strategy above

CRM:

Promotion & Advertising:

www.acegroup.com/.../ace-progress-report-social-media... - United States

What are challenges?

social media as a threat to productivity, intellectual capital, security, privacy, management authority, or regulatory compliance. most organizations had yet to embrace a positive attitude towards using social media for true business value Fearful, folly and flippant attitudes keep organizations from realizing the benefits of mass collaboration
http://blogs.hbr.org/cs/2012/07/most_organizations_still_fear.html

Future face of SNS..!

Six major effects of SNS use which are likely to be effective in coming years

Convergence Emergence The Cult of Influence Gamification Nation Social Sharing Social Television The Micro Economy

blogs.hbr.org/cs/2011/12/six_social_media_trends_for_20.html