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Andres M. Kaplan, Michael Haenlein

Users Of The World Unite!The Challenges And Oppor78nities Of Social Media

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Online society is growing over the past 5 years. This society is not limited to teenagers but also middle aged people (Gen

X)

Freedom of speech and access to information. Sharing of personal information through blogs and social networking sites. Validation of information by third party sources

THE SPECTER OF SOCIAL MEDIA

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Social media - internet based applications build on the foundations of Web2.0 and that allow creation and exchange of User Generated Content.

Key elements Social presence & Self disclosure Social presence influenced by intimacy and immediacy. Combining both dimensions -

WHAT IS SOCIAL MEDIAAND WHAT IT IS NOT

Social presence

Low Medium High

Self

disclosure

High Blogs Facebook Second life

Low Wikipedia YouTube WOW

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Collaborative Projects : Joint creation by many end users. Blogs : summarizing all relevant information in one content area. Content Communities : sharing of media content between users. Social networking sites : Users can create personal info profiles, invites

friends, send emails and instant messages.

Virtual Game World and Virtual Social World : can appear in personalisedavatars and interact with each other as they would in real life.

CHALLENGES ANDOPPORTUNITIES

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Using Media Choose Social Media Carefully

-Media of same domain and of required features

Pick Application or make your own-Benefit from existing medias popularity v/s unique platform Ensure Activity Alignment

- Resolution of ambiguity & reduction of uncertainty

Media Plan Integration-Integration with traditional media

Access for All-Employee accessibility eg: IBM

ADVICE FOR COMPANIES INTENDING

TO USE SOCIAL MEDIA

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Being Social

Be Active-Fresh Content creates Prosumers

Be Interesting-Give the audience what they want

Be Humble- Respect Interaction and Feedback

Be Unprofessional-Natural Content

Be Honest-Respect rules of the game

ADVICE FOR COMPANIES USING

INTENDING TO USE SOCIAL MEDIA

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Social media allows firms to engage in timely and direct endconsumer contact at relatively low cost and higher level ofefficiency

ex- dell generated $1 Million in incremental revenue throughuse of twitter

New horizon-From web 2.0 to mobile social media i.e. mobile web 2.0-Being $ 22.4 billion industry from $5.5 billion by 2013

-Mobile social media will be main driver capturing 50%market-Mobile will be primary internet connection tool by 2020-More no of mobile users compared to PC users

NEW BUSINESS PROSPECTS