Social Media For Business (2010 Version)

Social Media for Business

Before we get started… Who Am I?

60% of European Consumers now engage with Social Media on a regular basis

64% of UK Companies say they have experimented with Social Media

However…

This leaves some important questions unanswered…

What is Social Media?

Is it just another fad?

Is anyone making any money?

Where do I start?

What is Social Media?

“Media designed to be disseminated through social interaction, created using highlyaccessible and scalable publishing techniques.”

Wikipedia Definition

or

“...it’s how people read, discover and shareinformation.”

Social Media Marketing is about using Social Media to engage with online communities to generate exposure, opportunity and sales

Key Aspects & Terminology

• Web 2.0

• Real Time

• Viral

• Authentic

• UGC & CGM

• Sociological / Technological

The Technology

Social Media Platforms

Blogs Social Networks

Wiki Sites File Sharing Sites

Social BookmarkingLive Streaming

Forums Aggregators

What is Facebook?

• Launched 2004

• 400m Active Users

• 50% are between 25-49

Latest Statistics

• 50% log on in any given day

• 35m+ users update their status each day

• 55m+ status updates posted each day

• 3.5bn+ pieces of content shared per week

Source: http://www.facebook.com/press/info.php?statistics

An Averege user…

• 130+ Friends

• 55 minutes on Facebook per day

• ‘Likes’ 9 pieces of content per month

Source: http://www.facebook.com/press/info.php?statistics

Some Statistics

• 77% active internet users read blogs• 133m+ blogs• 55% more traffic

What is Twitter?

• Social Network

• Blogging Platform

• Search Engine

• Focus Group

• News Wire

Latest Statistics

• 50m Tweets Per Day

• 66m Unique Visitors

• 550m Visits

• 5.5m UK Members

An Average user…

• 31

• 126 Followers

• 80% do not go via the website

A Typical Profile

Avatar Bio

Web Address

Location

Custom Background

What is LinkedIn?

• ‘Professional Network’• 50m+ members • 200 countries / territories

Some Statistics

• 1 new user per second • £68,000 Average earnings • 46% decision makers

Where do I start?

Identify Communities

Define Objectives

Agree an Approach

Allocate Resources

Link to Technology

The Planning Approach

Identifying Communities

Customers Influencers Partners

Demographics

Technical ability

Interests

Geographic location

Staff

Journalists

Suppliers

Politicians

Allied trades

Competitors

Funders / Investors

Other regions

Defining Your Objectives

• SEO: link building, content factors

• Marketing: Promote business, brand awareness

• Sales: New contact routes, increase purchasing

• Engagement: Increase loyalty, foster word of mouth

• Research: Identify trends / niches, consultation

• PR: Manage reputation, get news out

• Management: Collaboration, knowledge sharing

• Calculate potential returns and define KPIs

Allocating Resources

• Budget

• Skills

• Staff

• Gaps

• Business As Usual (BAU)

• Time

The Approach

VCP

Visibility

+

Credibility

=

Profitability

Visibility

• Create Shop Windows

• Networks / Community Engagement

• Viral / WOM

• Joining Conversations

• Tell a Story

• Broaden Reach of Activity

Credibility

• Show Knowledge

• Passive Marketing

• Use Network

• ‘Givers Gain’

Profitability

• Long Term

• Define KPIs

• Cost Savings

• New Contact Routes

Some Examples

Is anyone making any money?

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Jan Feb Mar Apr May Jun Jul Aug Sep

Visits

New Visitors

Page Views

Results: Business Cornwall

Results: Business Cornwall

• Stabilised Revenues

• New Services / Value

• Increased Reach

Results: UKNetWeb

• 500% increase in new business enquiries through social networks

• 2/3 of all enquiries through social networks

• 100% Increase in Average Order Values

• Opened up UK & International Markets

Results: UKNetWeb

Results: More Examples

• Dell– $7m Twitter Sales

• Twestival– £2,644 raised locally

• Surfers Against Sewage– New members, increased activity

• Tonick Media

Where do I start?

Your First Steps

• Start building your social & professional networks with the people you know

• Explore Social Media content around subjects of interest (Real time)

Google Show Options

Google Show Options

Your First Steps

• Start building your social & professional networks with the people you know

• Explore Social Media content around subjects of interest (Real time)

• Identify interesting sources & people – what makes them worth listening to?

• Try engaging with content through comments, messaging etc

Tips & Advice

• Quality wins over Quantity

• Aim for a dialogue (engagement)Social Media is not a broadcast medium

• Think about your story

• Use a variety of media

• Review regularly and tweak

Get it right…

• Increased brand awareness & credibility

• Increased web traffic & website engagement

• Higher average order values

• More repeat business, increased loyalty

• Reach into new markets / existing markets

• Insight into customer opinions & opportunities

• More sales & increased profitability

Extra Support

• Research, Planning & Strategy

• Advice, Guidance & Mentoring

• Bespoke Training

For More information

• Message me on Facebook, Twitter, LinkedIn or any other social network you find me on

• Check out the blog at www.tonickmedia.com/blog

• Give me a call – 01209 718688 / 07501 259000

• Send me an email - [email protected]

www.tonickmedia.com