Corporate image and Social Media: Opportunities and risks

Corporate Image and Social Media

Opportunities and Risks

Prof. Dr. Martin Michelson15.10.2011

„It takes 20 years to build a reputation and five minutes to ruin it.

If you think about that, you'll do things differently “

(Warren Buffet)

Source: ethority.de

Social Media Terms and ApplicationsSocial Media Terms and Applications

Social Networks / Communities

Discussion Forums, Professional Forums

Weblogs

Review Sites

Wikis

Microblogs

Video Portals / Photo Portals

Social Bookmarks

0

10

20

30

40

50

60

70

80

2007 2008 2009 2010 2011

Wikipedia VideoportalsPrivate Networks PhotoportalsBusiness Networks Weblogs Social Bookmarks Virtual GamesTwitter

Source: ARD/ZDF-Onlinestudie 2011

Social Media UseSocial Media Use

German Online Users: Occasional Use (from 14 years, percent)

Source: ARD/ZDF-Onlinestudie 2011

Social Media UseSocial Media Use

0

5

10

15

20

25

30

35

40

2007 2008 2009 2010 2011

Wikipedia VideoportalsPrivate Networks PhotoportalsBusiness Networks Weblogs Social BookmarksVirtual GamesTwitter

German Online Users: Regular Use (from 14 years, percent)

Increasing the number of visitors on the own website

Supplementing traditional Marketing- and communication strategies

Image care, credibility

Information gathering on customers and potential customers

Reasons for companies to use Social MediaReasons for companies to use Social Media

Interaction with customers

Discovering of new business opportunities and markets Realizing chances and risks

…at relatively low costs

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Targetgroup related adressing of many people

Which media and channels are relevant?

Only or additionally?

Is it senseful to conduct own communities, blogs or portals?

Activ participation: How to communicate with interest groups?

Observing or participationObserving or participation

How to react on criticism?

What is communicated in the different social media?

Passive participation: How do others speak about us?

Content levels of Social Media MonitoringContent levels of Social Media Monitoring

Market Analysis, Trend observing

Observing competitors

Reputation management

(Media-) analysis

Issue management

Risk monitoring

Formal levels of Social Media MonitoringFormal levels of Social Media Monitoring

Media: Which relevance?

Actors: Who says what obtaining which effect?

Content: What is communicated and how?

Facebook

Google +

Ciao, Doyou, Idealo, Amazon (reviews)

Wikipedia

Which channels are of (potential) relevance?Which channels are of (potential) relevance?

Twitter

Youtube

Technorati

Examples

Process of Social Media MonitoringProcess of Social Media Monitoring

Data collection

Data preparation

Data analysis

Presentation of Results

Measures

Quantityof data

Qualityof data

Example: Identification of opinion leadersExample: Identification of opinion leaders

Source: infospeed, w2monitor

Nam

e of

use

r

Number of postings

General search engines

Special search engines (google alerts, technorati etc.)

Criteria: Frequency of keywords, rating of dialog partners, number of answers, grade of linking of content

Systematic and continuing monitoring

Monitoring ToolsMonitoring Tools

Content recognition and analysis of audiovisual data still in development stage

Human Intelligence and interpretation ability remains indispensable

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Use external idees for innovative products or services

Discovering of experts

Social Media and „Crowd Intelligence“Social Media and „Crowd Intelligence“

Use external contribution for developments and improvements

Recruiting experts