Social Media and SM Marketing - EPI Leadership Course Week 2013 UA

Edward M. Erasmus, MA Lecture Social Media & SM Marketing University of Aruba, May 29, 2013

Roadmap…

• Digital Revolution

• Social Media explained

• Power of Social Media

• Successful Social Networking

• Social Media Marketing

• Key takeaways

Since the commercialization of the Internet (1990s)

• Tremendous impact on culture and commerce.

• The rise of near instant communication by email, instant messaging, Voice over Internet Protocol "phone calls", two-way interactive video calls, and the World Wide Web.

As we speak…

• More than 2.2 billion people are using the Internet.

• Revolutionizing every aspect of our daily lives.

• Faster speed, open source technology, cloud computing, smart phones, tablets and the growth of socially interactive platforms (social media) enable creative and innovative new forms of business opportunities.

Disrupting markets and business models

Digital Revolution…

What is social media?

so.cial me.di.a …a whole network of sites where users

can interact with one another whether it is by sharing information or discussing various topics

Simply stated…

Social media is people having conversations and

sharing stuff online….

Thanks to social networking:

• Society is moving towards a more social, collaborative, interactive and responsive web

• Higher interconnectivity

• Building communities

From social media to social movement

Social Media is disrupting how we…

• Interact

• Gather information

• Make decisions

• Collaborate, develop and create

• Do business

Say goodbye to the era of

monologue

The new communication model is

dialogue

Social media is a powerful

networking tool…

Global Networking

Global Networking

Global Networking

Global Networking

Global Networking

• Networking with peers around the globe is easier than ever

• Changing the way we relate to one another

• Opportunities, opportunities, opportunities…

Social media marketing

The process of promoting business or websites through social media channels

Not a hype…..

It’s a fundamental shift in the way we communicate.

So why Social Media

Marketing?

5 key reasons to start considering

Social Media Marketing….

1. Sites are free 2. Fast outreach 3. Users are active 4. All ages and demographics 5. Social media is everywhere

“One thousand three hundred and thirty years in time

is spent daily on ”

Source: www.facebook.com

Users following a brand: 31%

Brand recommendations per

month: 8,000,000 +

Tomorrow’s consumers are today’s “digital natives”

“Social media is like a snowball

rolling down the hill. It’s picking up

speed. Five years from now, it’s

going to be the standard.”

~Jeff Antaya, chief marketing officer of Plante Moran

How can Social Media contribute to your Marketing

Strategy?

Traditional marketing often focuses on the

four P’s:

Product

Price

• Place

• Promotion

Social Media Marketing

enables you to add more P’s to your

marketing & communication mix…

#1…..Participation • Offering customers a voice will lead

to a greater sense of ownership

Co-creation….

Starbucks gave consumers a

voice....the result:

over 50,000 product ideas

What is a brand anyway?.....

#2…..Personality (brand)

A brand = …name, term, sign, symbol or design, or a

combination of them intended to identify the goods and services of a company.

Brand loyalty Strong human connection

• SM offers an opportunity for a brand to show its personality, without it looking like a marketing plan or ad campaign.

• SM Marketing is all about connecting with people first as human beings and then as customers later.

• SM = branding through conversations!

#3...P2P

• Forget B2C or B2B……

it’s now P2P (person-2-

person)

…customers want to connect and interact with companies on a 1:1 social level

…and those who can deliver that, will gain substantial competitive edge..

#4… 24/ 7 Public Relations

• Show both sides of a story;

• Can be used to provide comments, to dispel myths and to correct incorrect information that may be circulating;

• Consultation can take place in an effective way, as it allows for greater openness and transparency.

So…in essence….

Product Price Place Promotion

Participation Personality

(brand) PR P2P

R.O.I.

Customer loyalty + Revenues

Getting started…. 1. Define your objectives

2. Define your audience

3. Define your strategy

4. Choose your channels

5. Plan a content agenda

6. Decide on who will manage what

7. Define measurement mechanisms

8. Execute – evaluate – adapt – execute….

Conclusion Social media has completely changed the

landscape of marketing, and when executed well, it has positive implications for multiple divisions:

• from consumer insights

• to product development/innovation

• to marketing

• to corporate reputation

Key Takeaways…. [3 P’s when launching SMM]

•Purpose

•Point of view

•Patience

Forget marketing, start engaging!

Some afterthoughts about SMM….

• Core business: products / services

Quality, promises, commitments, relationships

• Social media is an ingredient, not an entrée…

No replacement for all other marketing tools,

instead: it should be integrated with other online and offline marketing strategies