The Social Soap Box: Social Media Gets Older

Can you believe the average age of a twitter user is 39 years old?!
Most people you ask would say, there’s no way! … twitter is for the younger kids – the Gen Y, or Millennials as they call them… but not so fast. The infographic below indicates that most social media users are between the age of 35-44, with a 25% share of all social media use.

Read on for more great statistics!

Thank you @autumntt for putting together this great article!

Amplify’d from newsroom.cisco.com

The Social Soap Box: Social Media Gets Older

Autumn Truong
July 28 , 2011

Social media has only been around a decade, but the folks who frequent sites like Twitter, Facebook and LinkedIn are getting older. 

A recent survey conducted by Pew Internet revealed that the average age of a user of social networking sites is 38, a big increase from the average age of 33 just three years ago. To boot, over half of all adult Internet users are now over the age of 35. The Pew research also revealed that Facebook users in particular are 43 percent more likely than other Internet users and more than three times as likely as non-Internet users to feel most people can be trusted.

I asked Peter Kim, chief strategy officer at Dachis Group, a research and consultancy firm focused on social business, to share his thoughts:

“Many sites are seeing current growth from this older demographic. Early on, companies could dismiss the need for social strategy by claiming that social networks were better suited for youth. Now, there should be no doubt left that social channels are critical for both business to consumer and employee to employee communications.

As companies shift to social business, they will need to come to terms with the realities of engagement. Trust is paramount and built through direct engagement; yet most companies are not staffed to scale up quickly in social channels. Thus the changes in corporate communications and marketing will be slow to manifest publicly. But they’ll become the basis of long-term competitive advantage for those who get it right.

What this means: companies must consider their readiness for social business. Is the organization siloed or networked? Is the culture closed or collaborative? Are the right tools being used to facilitate communications and connections?

Look to companies like Ford and Target that are shifting on the leading edge of these changes.”

Net-net: The population is aging, so it makes sense that users of social networks are getting older, too. Here’s a fairly recent infographic that gives a good breakdown of how the various age groups interact online.

Read more at newsroom.cisco.com

 

What’s the R.O.I.? A Framework for Social Analytics

“Not everything that can be counted counts, and not everything that counts can be counted” Albert Einstein

What an awesome quote!!

Check out this great writeup by the SM master himself, Brian Solis. ROI is in the mind and in the objectives of every senior executive looking to implement and fund Social Media Campaigns. This article by Brian, presents a framework to be used in the process of determining ROI. Check it out and see what you think…

Amplify’d from www.briansolis.com

“Not everything that can be counted counts, and not everything that counts can be counted.”
– Albert Einstein

Say hello to my little friends, R.O. & I.

Yes. Return on investment have become the bane of an entire new media industry. However, avoidance is not the answer.

This conversation is important as you are expected to answer it not just today, but and also over time.  The source of the question though, may also impede innovation and experimentation. Why?  The answer in of itself is as elusive as the question asked. As much as the previous sentence sounds like a riddle, it is a very real observation. Often it is asked without a clear understanding as to whether or not the answer will actually change the company vision or the current course of business. Sometimes it is genuinely asked to do just that, change the vision and the course of business toward relevance. Either way, this is an opportunity to show how new media enables desired business outcomes.

While the question of “what’s the R.O.I. of social media” is difficult to answer, it is necessary as it forces us to dig deeper. The result is maturity.

Before we tackle the question, let me share a quote with you. After hundreds of executive discussions, I’ve stitched together a recurring theme that I believe will help you…

“If you come to me with a request for budget and resources for social media, to make it a priority for our business, you will lose every time…If you tie social media to our business priorities and objectives and demonstrate how engagement will enable progress, you will win every time. Social media must be an enabler to our business, just show me how.”

– Your CEO

Your job is to connect the dots between the value of new media, the expectations of your customers, and the business roadmap the company is operating against.

So, when it comes to R.O.I. in social media, perhaps we’re asking the wrong question.

Again, the answer is difficult, but not impossible to answer. If I ask you, “how are you?” you will probably respond with “fine,” “ok,” “good,” or “great.” But if you take a moment to think about it, each of those answers begs a follow-up question to deepen the conversation, “why?” Or, “why do you say that?” Otherwise the question serves no real purpose other than to casually acknowledge another person or to run through the traditional ritual of easing into a conversation. The same is true for R.O.I.

If we are indeed to discover the “Return,” we need to tie it to more than the “Investment,” we need to understand the circumstances, intentions, and potential impact and outcomes business leaders need to see in order to understand new or foreign opportunities. Said another way, we need to define the “R” that defines tangible success and work out a formula that allows us to find the answers. Therefore, R.O.I is specific to an outcome or a goal, which means that there is no one answer.

To help, Susan Etlinger (@setlinger), my colleague at Altimeter Group, recently published an open research report, “A Framework for Social Analytics.”

The report opens puts ROI in context to help you focus on business value in your social media efforts:

“What is the ROI of social media?” This is one of the most frequently asked questions related to social strategy. While 48% of social strategists reported earlier this year that their primary internal focus is to develop ROI measurements,2 ROI is just one metric in the social business toolkit. Rather than focusing on social media as a monolithic entity, businesses should evaluate it based on its contribution to a range of business goals. Says Richard Binhammer, Strategic Corporate Communications, Social Media. and Corporate Reputation Management, Dell Inc., ‘There is no single ROI for social media.’”

As we see in the executive quote earlier in the post, tying social media to business objectives and metrics helps them see a clearer picture. We have to remember that executives most likely do not use social networks personally. It’s impossible for them to see what you see, therefore taking the extra time to connect the dots helps you make the case and in doing so, brings the R.O.I. answer into focus.

Susan also does a wonderful job of not only showing us how businesses should view R.O.I, but she also helps businesses identify how to develop analytics frameworks that define the “R” or the return for specific business objectives.

Prep work: Assess how your business is measuring R.O.I. on other fronts today

Step 1: Align your strategy with business objectives

Step 2: Determine how you will measure success and also define critical milestones

Step 3: Evaluate your organization’s readiness to measure social media and bridge the gaps

Step 4: Choose the right tools to measure progress and outcomes

Remember, there is no one way to measure R.O.I. There are many business pillars that stand on a solid foundation for growth. Susan introduces the Social Media Measurement Compass to guide businesses as they’re planning social media programs. Remember, social media doesn’t just belong in the marketing department, a social business is customer-centric and social media enables more effective engagement, learning, and adaptation. Therefore, it is the responsibility of other critical business functions to engage.

1. Innovation: Collaborating with customers to drive future products and services

2. Brand Health: A measure of attitudes, conversation ad behavior toward your brand

3. Marketing Optimization: Improving the effectiveness of marketing programs

4. Revenue Generation: Where and how your company generates revenue

5. Operational Efficiency: Where and how your company reduces expenses

6. Customer Experience: Improving your relationship with customers, and their experience with your brand

The three tenets of social business, Connected, Engaged, Adaptive create a transparent relationship with customers that opens the door to meaningful metrics to measure success and improve everything in between. In the end, understanding the relationship between business objectives and social media tactics will create a series of relevant strategies and critical links that in of themselves serve as opportunities for measurement and the establishment of R.O.I.

We cannot measure, what it is we do not know to value…

You can download Susan’s report here and also follow her on Twitter for more insights into metrics and analytics.

Read more at www.briansolis.com

 

3 Social Media Must Haves For Companies

Another great writeup by Heidi Cohen!

Amplify’d from heidicohen.com

3 Social Media Must Haves For Companies

Always be preparedWhile social media continues to mature, it’s still a scary environment for many businesses since it means that prospects, customers and the public have the platforms and tools to amplify their voices with relative ease. Despite this easy access to publishing tools, the reality is that only 1% of the people involved in social media create new content while 90% lurk or consume content and 9% comment or make other minor contributions to existing content.  From a corporate perspective, it’s that 1-2% of interactions or comments to which brands and/or companies must respond.

In today’s social media ecosystem, there are three elements that every company should have regardless of whether they’re active on social media networks or not. Given the velocity with which information is shared, it’s critical that your firm is prepared to react quickly and appropriately to changes in the conversation in order to protect your brand and reputation. Here are three recommendations.

  1. Have social media monitoring in place. This factor was high on marketers’ list of 2011 must haves. Social media monitoring can be an early warning system for your business. As part of your social media monitoring make sure that you’re also tracking words related to your competitors since their problems can quickly spread to your business.

  1. Implement social media guidelines. Surprisingly, research by SmartBrief for Social Media and Summus, which considers social media guidelines an indicator of social media adoption, found that only half of companies had social media guidelines after three years. This should be a no-brainer as it protects both your firm and your employees.

  1. Have a crisis management plan in place. Since social media firestorms can occur at any time without notice, it’s important to have a crisis management plan in place. This means more than just the name of a PR crisis management firm. It requires an organized plan with up-to-date names and phone numbers (including personal cellphones.) The reality is that something will occur at a time when no one’s minding the shop; at night, on the weekend or during a holiday. (Here’s a Real-time PR Checklist to help you.)

As a business, are you ready for a PR crisis? Are you prepared if something happens to one of your employees, suppliers, distributors or competitors? Just as airlines repeat their instructions about evacuating the airplane at the beginning of every flight, it’s important for your business to ensure that your employees understand what’s expected of them in a social media emergency.

Does your firm have these three elements in place? If not, what’s holding your firm back?

Happy marketing,
Heidi Cohen

Read more at heidicohen.com

 

The Four Stages of Social Business

Great article on the process of integrating social into the business.

Amplify’d from darmano.typepad.com

Learning To Fly: The Four Stages of Social Business

Screen shot 2011-04-22 at 7.47.00 AM

Time to talk about social business planning again. My mother always told me, you have to “walk before you run” and as it turns out, the same is true for organizations looking to move from social media as a set of un-connected, chaotic collection of skunk work initiatives to a coordinated and purposeful initiative that works through the entire organization. Of course, this will take time—years most likely. But it’s inevitable in my estimation. As I’ve said before—the end game is integration. The above chart is generic—it can be applied to some organizations (especially large ones with a global footprint). If your company wants to learn to fly and integrate a social “layer” into everything you do here are a few thoughts as you plot your own roadmap:

Read more at darmano.typepad.com

 

Dollars Flow Back Into Tech

Amplify’d from www.wallstreetjournal.com

Dollars Flow Back Into Tech

IBM and Intel See Surge in Earnings as Businesses Spend Big on Hardware

Two of the world’s largest technology vendors surprised Wall Street by posting surging sales and profits in the first-quarter, and signaled brighter days ahead.

International Business Machines Corp. and Intel Corp. both saw a big boost in spending from businesses, especially on servers and machines used in corporate data centers.

IBM logged the highest revenue growth the company has seen in 10 years, adjusting for currency fluctuations. Its quarterly revenue rose 7.7%, as demand for a new mainframe computer lifted hardware sales 19%.

TECHEARNS

Intel had a strong quarter, including a 34% jump in profit and revenue growth of 25%. The company benefited from sales of chips used in server systems and other hardware for computer rooms, and revenue rose 32% in that business.

An IBM researcher works at a company lab in December. IBM saw sales rise 7.7% in the first quarter.

Read more at www.wallstreetjournal.com