discover how social media can be a valuable tool for finance & hr

Discover How Social Media Can BE A Valuable Tool For Finance & HR

Darrell W. Gunter President, Allerton Press a division of PLEIADES Publishing, LLC

July 21, 2011

Our Discussion Today

•  Intro to our topic -‐ Let’s take an inventory •  ObjecSves of your company and department •  Web Governance •  Some basic facts about social media •  Some best pracSces in social media •  GeUng started •  Let’s do an exercise •  SummaSon

The “New Order of CommunicaSon”

Your Strategy

Social Media

Social Networking

Mobile Technology

Web Governance

Let’s Take An Inventory

•  Let’s take an inventory •  How many of you have a strategic social media strategy?

•  How many of you have established a social media policy?

•  How many of you use Twi\er, Facebook and LinkedIn? What about Foursquare?

•  How many of you feel that social media is a bunch of hooey?

The High Performance Cycle Goals

Leadership

Roles Processes

Resources

Assessment

10/24/11 5 © 2009 Gunter Media Group

Culture

Corporate Culture and Performance John P. Ko5er "Almost all books on corporate culture state or imply a relaSonship to long-‐term economic performance...“


The Recipe

•  Mission statement, corporate objecSve and strategy plan

•  Team members on board •  A successful foundaSon •  Building a great culture


The Focus Of The Company

•  Mission Statement – Do you have one? –  Why is it important?

•  ObjecSves •  Strategy •  TacScs


A Successful FoundaSon

Mission ObjecSves Strategy TacScs

Job DescripSon

ObjecSve seUng

Performance Reviews CompensaSon

Human Capital

CommunicaSon Policies & Processes

Fairness & Consistency


The On-‐boarding Process

RecruiSng

Interviewing

SelecSng

Training Assessment


GeUng Started

•  What is your starSng point? •  Do you have a performance dashboard? •  Assessment of your company / SWOT analysis. •  Your company’s mission •  Corporate objecSve and strategic plan of acSon

•  Job descripSons, objecSve seUng and performance reviews


Social Media & Your Business

•  Some key quesSons – What is the mission of your company? – What is your company’s key objecSves? – What is your company’s strategic plan? – Have you defined how social media will help you fulfill your mission, achieve your key objecSves and your strategic plan?

•  A focused social media strategy!

A Primer on Social Media •  Facebook – A general use social network & media social network

•  LinkedIn – A professional social network & social media site

•  Twi\er – A powerful SN & SM site – Broadcast quickly •  Foursquare •  Bit.ly – A tool that allows you to broadcast to many sites

•  HootSuite – A robust tool that allows to broad to many sites.

Web Governance

•  What is web governance?

•  Why is it important?

•  How will it benefit your business?

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Web Governance The Digital Deca

10 Management Truths for the Web Age

•  Truth 1 Your Web presence is the digital manifestaSon of your organizaSon.

•  Truth 2 In a digitally transforming business environment, bold leadership is vital.

•  Truth 3 Decision-‐making must be based upon experJse, not power. •  Truth 4 The business framework must be inclusive. •  Truth 5 Standards enable collaboraJon. •  Truth 6 The Web is an asset. •  Truth 7 The organizaJon owns the Web presence. •  Truth 8 Management should embrace impermanence. •  Truth 9 Know your customer but own your mission. •  Truth 10 Measure twice, execute once.

Source: Welchmanpierpoint.com

FoundaSon of a Community

•  Key informaSon and resources germane to their discipline, topic, area of interest, etc.,

•  Tools that they use; chat, groups, sharing •  Features that recognize experSse •  Professional monitoring keep the site the best •  Keep it fresh!

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Building a Community of PracSce

•  Understand the special characterisScs of your audience?

•  What are the key tools that they use on an everyday basis?

•  What are the common areas of interest? (What do they want to discuss?)

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Some Key QuesSons?

•  How many of you have a smart phone device? •  How many of you in the audience have an iPad or similar device?

•  How many of you have a mobile applicaSon in place now?

•  How many of you will have a mobile applicaSon for next year?

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The STM Consumer

Author of a book

Member of a STM society

Author of journal articles

Receiving research funding

Consumer & reader Peer

reviewer

Participant & speaker at

conferences

Taking advantage of continuous education

Member of an editorial board

The Holy Grail!

Get the author to the PDF ASAP!

Gartner IdenSfies Top 10 Mobile ApplicaSons for 2012

#1 Money Transfer #2 LocaSon-‐Based Services #3 Mobile Search #4 Mobile Browsing #5 Mobile Health Monitoring #6 Mobile Payment #7 Near Field CommunicaSon Services #8 Mobile AdverSsing #9 Mobile Instant Messaging #10 Mobile Music Source: Gartner h\p://bit.ly/kLTy5s

Key 2011 Global Mobile Stats

•  6,915,782,324 World PopulaSon •  5.3 Billion Mobile SubscripSons –  747.4 MM China –  525.2 MM India –  292.8 MM USA

•  1,388.2 Billion up 18.5% Global Shipments of mobile devices

•  302.6 MM up 74.4% Smart Phones Source: mobiThinking h\p://bit.ly/m7O0Mq

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Key 2011 Global Mobile Stats •  Both Gartner and IDC both agree that the Android OperaSng System will represent approximately 38% of the projected approximate 450 million unit sales

•  Almost 1 in 5 mobile users have access to fast mobile services (3G or be\er)

•  US has overtaken Western Europe in unlimited data plan

Source: mobiThinking h\p://bit.ly/m7O0Mq

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Mobile Behavior In US, Europe & Japan

Mobile behavior in United States, EU5 (UK, Germany, France, Spain and Italy) and Japan – October, November, December 2010 Percent of total mobile audience (Age 13+)

United States Europe Japan

Used connected media (browser, app or download) 46.7% 41.1% 76.8% Used browser 36.4% 28.8% 55.4% Used applicaSon 34.4% 28.0% 53.3% Used messaging Sent text message 68.0% 82.7% 41.6% Instant messaging 17.2% 14.2% 3.6% Email 30.5% 22.2% 57.1% Accessed entertainment/social media Took photos 52.4% 57.5% 62.9% Social networking or blog 24.7% 18.0% 19.3% Played games 23.2% 25.3% 16.3% Recorded video 20.2% 26.1% 15.8% Listened to music 15.7% 25.0% 12.9% Watched TV and/or video 5.6% 5.7% 22.8% Accessed financial services Bank accounts 11.4% 8.0% 7.0% Financial news or stock quotes 10.2% 8.0% 16.5% Accessed news, sports, weather, search, retail, travel, reference News and informa?on 39.5% 32.2% 57.6% Weather reports 25.2% 16.4% 34.7% Search 21.4% 14.9% 31.5% Maps 17.8% 13.0% 17.1% Sports news 15.8% 12.0% 18.2% Restaurant info 10.0% 6.5% 9.7% Traffic reports 8.4% 7.4% 14.0% Classifieds 7.3% 4.8% 3.6% Retail site 6.5% 5.2% 8.5% Travel service 4.4% 4.6% 2.9% Source: comScore MobiLens (Feb 2011) via: mobiThinking

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Mobile Apps Stats Change in price of a download app over 12 months, 2010 according to DisJmo

App store Apple Blackberry Ovi (Nokia) Android # of apps 300K 18K 130K 25K Price change All apps -‐12 -‐24 +1 -‐29

Top 100 apps -‐19 -‐24 -‐9 -‐61 Source: The DisJmo report (January 2011) via: mobiThinking

Smart Phone Stats •  Nielsen

report that 31% of US mobile phone owners have a smartphone as of December 2010, and expect smartphones to become the majority by the end of 2011. eMarketer predicts that smartphone ownership will reach 43% of the US mobile populaSon by 2015.

•  According to figures for 2010 released by Gartner, smartphones accounted for 297 million (19%) of the 1.6 billion mobile phones sold that year. That's 72.1% more smartphone sales than in 2009.

•  The same company expects US sales of smartphones to grow from 67 million in 2010 to 95 million in 2011, and become the highest-‐selling consumer electronic device category.

•  For Q4 2010, the IDC Worldwide Quarterly Mobile Phone Tracker puts smartphone sales at 100.9 million, up some 87% over Q4 2009. They report total smartphone sales for 2010 as 302.6 million, up around 74% on 2009.

•  The Coda Research Consultancy predict global smartphone sales of some 2.5 billion over the 2010-‐2015 period, and also suggest that mobile Internet use via smartphones will increase 50 fold by the end of that period.

•  Morgan Stanley Research esSmates sales of smartphones will exceed those of PCs in 2012. •  Gartner expect over 500 million smartphones to sell in 2012.

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What Does It All Mean?

•  To be relevant, you must have a mobile strategy

•  Mobile is another driver to your PDFs! •  Be agile, consider HTML 5 •  Choose wisely

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Social Media & HR 2010 Survey by Jobvite

•  Recruitment -‐ 83% of the respondents say they either use or plan to use social media

•  Back Channel Referencing -‐ Recruiters pre-‐qualify execuSves when they are iniSally sourcing candidates

•  Networking and communicaSon -‐ In-‐house social networking plaxorms have done what above-‐normal salary hikes have not been able to do – control a\riSon.. It is reported that the company-‐social networking plaxorms have helped engage employees be\er and reduce a\riSon.

Source: Business line -‐ h\p://www.thehindubusinessline.com/opinion/arScle2091139.ece h\p://recruiSng.jobvite.com/

Social Media & Finance

•  The first step is to develop a business case and a strategy

•  Then decide who is going to be responsible, and how it will be funded.

•  Too oyen social media becomes an unfunded mandate, said one consultant who finds that many Fortune 100 companies have social media departments consisSng of one person.


•  Then decide who is going to be responsible, and how it will be funded. Too oyen social media becomes an unfunded mandate, said one consultant who finds that many Fortune 100 companies have social media departments consisSng of one person.


•  The fastest path to success might be finding your revenue producing champion or one business unit that can do is technically competent and understands compliance.

•  Regulators have made a stab at addressing social media. FINRA issued Regulatory NoSce 10-‐06 which it described in a press release, which suggests there remains work to be done. h\p://www.finra.org/Newsroom/NewsReleases/2010/P120780

SummaSon •  The use of Social Media will not be as meaningful if your team members are not aligned with the company’s mission and strategy.

•  Further the job descripSons and performance objecSves must be aligned as well.

•  Establish a strategic social media strategy •  Define precisely what you want to achieve •  Provide the necessary staffing and funding •  Establish a realisSc performance dashboard and measure for success

•  Embrace the “New Order” of communicaSon

Thank you!

Q &A

Darrell W. Gunter President, Allerton Press, Inc.

A division of PLEIADES Publishing, LLC

+1.973.454.3475 [email protected]

discover how social media can be a valuable tool for finance & hr

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