Presentation on how business schools should use social media by RBC Chair of HEC Montréal.

1. Social Media and Business Schools:
Strategic Issues
Sylvain Senecal
Holder
RBC Chair
November 7, 2010

2. Plan
• Social Media and Consumer
Empowerment
• Social Media and Organizations
• Social Media Strategy Roadmap
• Conclusion
RBC Financial Group Chair of e-Commerce 2
HEC Montréal

3. SOCIAL MEDIA AND CONSUMER
EMPOWERMENT
3

4. A « Classic » Example
The trilogy has been viewed on YouTube by more than 10 million people and over
100 million people have learned of Dave’s story & creative response via social
media & traditional media channels. It was estimated that the first United Breaks
Guitars video cost United Airlines over $180 million dollars.
RBC Financial Group Chair of e-Commerce 4
HEC Montréal

5. What is Social Media?
“Social media is a variety of new sources of
online information that are
created, initiated, circulated and used by
consumers intent on educating each other
about
products, brands, services, personalities, and
issues.”
(Mangold et Faulds, 2009)
RBC Financial Group Chair of e-Commerce 5
HEC Montréal

6. Mass Communication
• Traditionally, mass communication was used
only by organizations
– Web sites
• With the web 2.0, consumers have access to
an array of mass communication tools
– Youtube, Facebook, Flickr, Wordpress, Twitter,
MySpace, etc.
RBC Financial Group Chair of e-Commerce 6
HEC Montréal

7. Which generates the phenomenon
of…
• …Consumer empowerment
• Consumers use the Internet to get information
and express themselves
– From ratings to testimonies, using different
formats (text, audio, video) and on various social
platforms (blogs, social networks, virtual
communities, etc.)
RBC Financial Group Chair of e-Commerce 7
HEC Montréal

8. Canada
Consumer Empowerment and Age
7.40 Leger Marketing, June 2009
7.20
7.00
6.80
6.60
6.40
6.20
6.00
5.80
18 to 24
25 to 29
30 to 34
35 to 39
40 to 44
45 to 49
50 to 54
55 to 59
60 to 64
65 +
RBC Financial Group Chair of e-Commerce 8
HEC Montréal

9. One More Example
Within hours I am contacted by several big name appliance
stores on Twitter offering their services, except none of
them can really help because I'm trying to work with
Because Maytag directly. And then a few hours after I sayI something
I have over a million followers on Twitter. If that get a
about mymessage from @WhirlpoolCorp who I think someone will help
terrible experience on Twitter do you guess own
me? And Maytag, andthe most condescending tone and hiss ever
she says in I send them my phone number and I wait. And
uttered, "Yes, IAnd wait. Twitter is. And no, that will not matter."
wait. know what
And then the following morning I get a phone call from Jeff
Piraino, manager of the executive offices of Whirlpool
Corporation in Michigan.
BOO-YAH!
That, my friends, is service.
RBC Financial Group Chair of e-Commerce 9
HEC Montréal

10. SOCIAL MEDIA AND
ORGANIZATIONS
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11. Is Social Media a Priority?
RBC Financial Group Chair of e-Commerce 11
HEC Montréal

12. Finding #3: Interactive is growing, and so is social media. Between
FY 08 and FY 09, 55 percent of institutions surveyed allocated more to
interactive; and 52 percent allocated more to social media.
RBC Financial Group Chair of e-Commerce Source: LipmanHearne/Case, 2010 12
HEC Montréal

13. What do Organizations use Social
Media for?
• Market Research
– Social Media Monitoring
• Attract visitors
• Convert visitors into customers
• Retain
– Maintain and develop relationships
RBC Financial Group Chair of e-Commerce 13
HEC Montréal

14. Social Media Monitoring
“Social media measurement refers to the
tracking of various social media content such
as blogs, wikis, micro-blogs, social networking
sites, video/photo sharing
websites, forums, message boards, and user-
generated content in general as a way for
marketers to determine the volume and
sentiment around a brand or topic in social
media.”
(Li et Bernoff 2008)
RBC Financial Group Chair of e-Commerce 14
HEC Montréal

15. 15

16. Attract
RBC Financial Group Chair of e-Commerce 16
HEC Montréal

17. Convert
RBC Financial Group Chair of e-Commerce 17
HEC Montréal

18. Retain
RBC Financial Group Chair of e-Commerce 18
HEC Montréal

19. SOCIAL MEDIA STRATEGIC
ROADMAP
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20. Roadmap
• Objectives
– Attract, convert, retain, or market research
– Whom (target)?
• Potential, current students,
• Alumni, donors,
• Employers, community, etc.
• Strategy
– What (content)?
– By whom (employees, students, faculty),
– With what (tools)?
– When (frequency, duration, etc.)?
• Execution
• Control
– What (metrics)?
– When?
RBC Financial Group Chair of e-Commerce 20
HEC Montréal

21. CONCLUSION
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22. Conclusion
• Most business schools’ stakeholders are
internet savvy and social media users
(students, faculty, business community, etc.).
• To satisfy the needs of these empowered
users, a well defined and comprehensive
social media strategy is becoming essential.
RBC Financial Group Chair of e-Commerce 22
HEC Montréal

23. Tank you!
sylvain.senecal@hec.ca
www.chairerbc.com
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