4.23 social innovatioan enterpreneurship

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ENTE3534_Week25-Seminar.pptx

ENTE3534 – Social Innovation & Entrepreneurship

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Week 25 Seminar – Ngozi Eneh O.

HOW TO  MAKE A PITCH – Pitching you MVP

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Learning Objectives

The main purpose of today’s session is:

Give you the opportunity to present your own, personal, individual approach including social business canvas and receive formative feedback

Recall: MVP Seminar Activity from week 20

MVP: Minimum Viable Product or Service:

The materialisation of an idea that is still far from perfect but good enough (sufficient features) to introduce to public. Under a MVP rationale, you avoid “the temptation to overbuild and overpromise” (Ibid, p. 97).

Recall: You were to think about a version of your idea that requires only a fraction of such resources – something that you can quickly introduce to public so that you can start learning from the corresponding interaction (in order to find out in a timely manner whether you have a good or a bad idea at hand) and feedback.

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Pitching your MVP

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Follow this Simple formula

Problem

Solution

Value

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How to Make Presentation

Start with a hook

Passion &

Connect to

your audience

KISS:

Keep it Simple

Start

Strong

Focus on

Your

Attention

Needs

Maintain

EYE

Contact

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How to Make a Pitch

PROBLEM

-What is your social issue?

SOLUTION

-What is your product/ service

VALUE

-Who?

-How?

-Where?

Cost/ Resources

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Start with a Hook

Remember the first step to making impact is to demonstrate value

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QUESTION

TELL STORIES 

STATISTICS/ DATA

PROBLEM

OBSERVATION

Feedback/Discussion

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Sketch a quick presentation of your MVP

Attempt a pitch

20 mins

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Appendix – Social Entrepreneurship & Social Media

SOCIAL ENTREPRENEURSHIP AND SOCIAL MEDIA

ENTE 3534 SEMINAR 

SOCIAL ENTREPRENEURSHIP AND INNOVATION 

First presented in Week 26 (2022) by NGOZI ENEH OJO.

Amended by RF for Week 25 (2023)

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Outcomes

OUTLINE

Why social media

Social media strategy

Content

Tools 

Social Entrepreneurship & Social Media

WHY SOCIAL MEDIA?

Importance of social media to social entrepreneurship

Promote the social entrepreneur  

Create awareness of beneficiaries , promote generation of funding, influence customers’ perception

Promote business activity and distinguishable business model. 

Helps deliver excellent return (ROI) for entrepreneurs (for you!) 

Promotes co-creation of new products, facilities, concepts and systems which has been accelerated with evolution of social media

Case: Homelessness in HK:

Student answer:

#homelessness

#Endhomelessness

#Homelessnessawareness

#HongKong

#StopHomelessness

TackleHomelessness

#SocialEnterprise

#Charity

#Emotion

#HomelessnessSolutions

Case: Drug-related crime in Leicester

Student answer:

#Leicester

#Crime #drugcrime

#Support

#Rehabilitation

#Rehab

#Vulnerable and #lifechanging

#global

#SeekHelp

#volunteering

@NeighbourhoodAlerts

@LeicsPPP

Case: Food poverty in South Sri Lanka

1. #foodpoverty

2. #famine

3. #hunger

4. #foodinsecurity

5. #malnutrition

6. #srilanka

7. #domesticagriculture

8. #foodcommunity

9. #healthcheckups

10. #region (…)

11. #food4all

Top 10 keywords / #tags to advertise the social Innovation

CREATING A SOCIAL MEDIA STRATEGY

SOSTAC Model by PR Smith can help you create a social media strategy  for any type of business in 6 steps.

1) Situation analysis

2) Objective (of the campaign?)

3) Strategy 

4) Tactics 

5) Actions 

6) Control

AIDA model:

Steps:

Attention

Interest

Desire

Action

Using Social Media for Social Entrepreneurship

How to Craft a Social Media Strategy

Situation Analysis

Assume you are going on a journey and consider where you are, Where are you now, what you need for the trip, how much you have , options available? Consider:

What’s your Strength and Weakness points?

Who’s your targeted customers?

Who’s your customers?

What resources do you have ?

Who’s your competitors and what’s their situations

2. Objective

Where you want to go on the long and short term plus expected objective

Specific

Measurable

Achievable

Realistic

Timely

3. Strategy

What strategy you will use to achieve your objectives? If you were going on a journey think about how will you get there E.g., bus, train, lorry, airplane, etc.

How to Craft a Social Media Strategy

4. Tactics

The chosen transportation (E.g., if you chose road then you have options of bus, train, taxi etc.)

Tactics are the details of the strategy, what you will do within the strategy you planned. 

Chosen platforms and tools that allows you to achieve your strategy objective perfectly

Example – Email Marketing: Send out email newsletter 

LinkedIn InMail: Send out 15 InMail's monthly to targeted prospects

5. Actions

How you will pay the fees, will you seat in the front of the bus or you will take the last train for the day? 

Actions is about making your  tactics happen, it`s the process where you manage your social media platform, and implementation of the tools and the content planned in the tactics step.

6. Control

Monitoring whether your objectives are being achieved or not (KPIs) and who does what on every step of the plan.

KPI’s, are your key performance indicators, the metrics you use to check if you are achieving your goals successfully or not

7. Hashtags

Do some research and have a mix of key hashtags

Using Social Media for Social Entrepreneurship

SOCIAL MEDIA PLATFORMS AND TOOLS

TOOLS- HASHTAGS, Logo etc. 

#social entrepreneur

#climate

#sustainability

Using Social Media for Social Entrepreneurship

1. Quotes: Humorous, inspiring or motivational quotes always perform [but be appropriate]

2. Behind-the-scenes photos: Take candid shots of yourself, your employees, snap shot of your office or workspace

3. Statistics or data: Share new, relevant industry statistics (these perform great in terms of retweets and shares) 

4. Post a link to an old blog post: There’s nothing wrong with recycling, and old posts

5. Questions: You can post questions related to social issues and provide brief info in the caption.

Social Media Content

Examples

Using the SOSTAC model think about your social issue.

Then draw up a 5-day / 5-week and 5-month social media content plan for your social enterprise. (Indicate a specific social media platform and your goal).

SOSTAC model can be applied to any social media planning and applicable for any business, try it out!

Home-work

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