Chapter 5

Social Media

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Web 2.0 and Social Media

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 Factors in Web 2.0
A new way to navigate (tagging, search).
Rich user experience (richness, interactivity,
signalling and syndication).
Federated authorship (wikis, blogs, ratings,
comments, uploading audio and video).

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 Social Media
Social media refers to the means of
interaction among people in which
they create, share, and exchange
information and ideas in virtual
communities and networks.
Kaplan and Micheal defines social
media as a group of internet-based
applications that build on the
ideological and technological
foundations.
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Social Media Model by McKinsey

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 Monitoring: involves scrutinizing
organizational brands in real time across social
media. Companies can track data built, data
visualizations etc.
Amplification: involves designing an
organizations marketing activities to have an
inherent social motivator that spurs broader
engagement and sharing.
Responding: Includes reacting to
controversies floating about organization in the
social media space, countering negative
comments.
Leading: Involves leading customers towards
making long-term behavioral changes. This may
involve boosting brand awareness by driving web
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 Multidirectional
Communication Flow

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Examples of relationships between potential
corporate dialogue and some underlying Web
2.0 technologies:
Content syndication webcasting: Content
syndicationis the process of pushing your blog, site, or
videocontentout into third-party sites, either as a full
article, piece, link, or thumbnail. Content syndication is an
agreement in which an authority allows his or her work to be
reposted. It allows content to be posted from one website to
the other after seeking permission.
Sharing and bookmarking facility: A company may be
able to disseminate news and results more efficiently from
its corporate website through the various leading social
networks such as Facebook, Twitter, which may result in
making it more attractive to specific potential customers.
Mashups: The technology can be optimized to integrate
different initiatives in a unique corporate website, avoiding
inconveniences, the opportunity to develop a coherent
strategy forWeb design
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Marketing with Networks
Organizations gain significantly by creating
value with networks.

Economic Logic of Hype:

Expectations matter when an investment in a
network makes sense for the user if the network
reaches a critical mass.
A user will find valuable to belong to a network if
the value of the network exceeds the cost.

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The Virtuous Cycle of the Web

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Important Terms in Social
Media Analytics
Social media analytics refers to technology used to monitor,
measure and analyze activity by users of the Web 2.0
framework to provide information to make business decisions.
It encompasses business intelligence tools applied to
information sourced from social media such as Twitter and
Facebook.
Social network analysis is advanced analytics that is
specifically focused on identifying and forecasting connections,
relationships, and influence among individuals and groups.
Social media monitoring is real-time analytics that uses
complex event processing (CEP) to acquire, filter, and display
events taking place in social media.
Social intelligence refers to the trend toward incorporation of
social network style interaction models, such as those
associated with Facebook and wikis into the BI user experience.

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Capabilities of Social Media
Analytics

Software tools are needed to:

Collect Data
Extract Topics
Extract Sentiments
Analyze Opinions

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Social Media Analytics:
Data Tracking
Approaches for data tracking

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Social Media Analytics:
Data Analysis
Approaches for data analysis

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 Social Media Tools
SAP Social Media Analytics by Netbase
Google Analytics
Social Crawlytics
The IBM Social Media Analytics solution

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 Viral Marketing
Dimensions of the viral marketing strategy
include:
Effortless transfer to others
Scalability
Exploitation of consumer motivations
Exploitation of consumer emotions and behavior
Utilization of existing communication networks
Using resources of others for message propagation.

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 Social curation
Social Curation is collaborative
sharing of Web content organized
around one or more particular
themes and topics.
Social Curation involves aggregating,
organizing and sharing content
created by others to add context,
narrative and meaning to it.

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Social Curation

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