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MOIT - How Social Media Helps Businesses

By Ashley Almario, Josh Rosman and Ryan McCloskey
by

Josh Rosman

on 12 September 2013

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Transcript of MOIT - How Social Media Helps Businesses

How Large U.S. Companies Can Use Twitter and Other Social Media to Gain Business Value
Presentation by Ryan McCloskey,
Josh Rosman and Ashley Almario
About the Authors
Mary J. Culnan
Bentley University
Patrick J. McHugh
BitInsight





Jesus I. Zubillaga
Specializes in social media within the Industry Marketing Division of AEC
Has prior experience in the financial services industry
Worked on this article while he was a student in the Graduate School of Business at Bentley University
by Mary Culnan, Patrick McHugh, and Jesus Zubillaga
Key Points of the Article
Establishing Virtual Customer Environments Through Social Media
Web 2.0
Gain value through interaction and engagement
Co-creation of Content
Sharing Power
Builds customer loyalty
Social Media Platforms
Twitter
Facebook
Blogs
Forums
3 Elements of Effective Social Media Implementation
"Mindful" Adoption
Community Building
Absorptive Capacity
How Fortune 100's Use Social Media
Guidelines for Implementing Social Media
Coordination is Needed to Promote Use
Address Risk Management Issues Up Front
Develop Procedures to Process Unstructured Transactions
Lessons for Implementing Internal Social Media Applications
Case Study:
IT firms are the biggest users of Social Media
Twitter is the most frequently used platform
Facebook is the most widely used for retail
Platform Facts
These Companies Have Strong Reputations in:
Leadership in Marketing
Use of Information Technology
Implementing Diverse Portfolios of Social Media Applications
" Mindful " Adoption
Community Building
Absorptive Capacity
Making Good Decisions About Which Platform(s) to Adopt
Assigning Responsibility for Governance
Identifying Metrics to Measure Value
Making Sure All Applications are Readily Accessible
Managing Risk
Building Viable Communities
Successfully Establish Ongoing Relationships
Recognize Contributions by Community Members
Promote an Environment that is Conducive to Participation
Monitor User Generated (UG) Content
Develop Formal Systems to Process Incoming Social Media Messages
Decide How Reports About Social Media Transactions Will Be:
Created
Shared
Used
Conclusion
Future Research
Our Opinions
References
Professor of Management and Information Technology
Ph.D. in Information Systems from UCLA
Research in:
Online Communities
Enterprise Use of Social Media
Information Privacy
Serves on the Board of:
Future Privacy Forum
U.S. General Accountability Office's Executive Committee on Management and IT
Managing Director for a Firm Facilitating Innovation Via Social Networks
Holds an M.B.A from Harvard University
B.S and M.S degrees in engineering from Columbia University
Currently completing work for his Ph.D in business at Bentley University
Served in executive roles at three venture-backed companies selling data security solutions
Built a call center automation practice at GTE and online financial services offering at IBM
Interests focus on enterprise innovation and social media
Community Relations Manager
Autodesk, Inc.

As more and more firms plan on using social media platforms to communicate with their customers, creating an online presence is not sufficient enough. For social media to be effective, mindful adoption, community building and absorptive capacity are the three elements required for successful implementation strategies.
Measure of Consumer Behavior at a Subconscious Level

Privacy
No Discussion on YouTube

Culnan, Mary J., Patrick J. McHugh, and Jesus I. Zubillaga. "How Large U.S. Companies Can Use Twitter And Other Social Media To Gain Business Value." MIS Quarterly Executive 9.4 (2010): 243-259. Business Source Complete. Web. 11 Sept. 2013.
Taco Bell. "Taco Bell Doritos Locos Commercial Featuring Passion Pit Take A Walk." YouTube. YouTube, 28 Aug. 2012. Web. 12 Sept. 2013. <
Wyckoff, Luke. "Social Media Revolution 2013." YouTube. YouTube, 28 Nov. 2012. Web. 11 Sept. 2013. <

Will the added value through social media be short-lived?
Are "Likes" and "Followers" an accurate measure to help determine benefits of strong VCEs?
Can this model work for firms outside of the United States?
Will new platforms change trends in business, marketing, and VCEs?
Full transcript