Social Media
Nov 01, 2014
Social Media
is social media?
social media?
to implement?
is doing it right?
What
Why
How
Who
so·cial me·di·a Online gathering of interaction, ideas, comments and commentary.
Essentially, consumer conversation in cyberspace.
More simply put:
“Social media is people having conversations online.”
Introduction
Social Influence Marketing (SIM) is about employing social media and social influencers to achieve the marketing and business needs of an organization.
Measuring SIM
Business Justification :
R.O.I. RETURN ON INVESTMENT
THE R.O.I. EQUATION
Investment Expectation of return
Return On Investment
Digital Action
Digital
Interaction Sale W.O.M. Recognition More Sales
Return On Interaction Return On Influence +
A more realistic way to access value
Now, social media is…
Paid
Internet Advertising
PPC – Search Marketing
Mobile Advertising
Sponsorships
Paid Applications
Earned
Social Media
(Pages and Feeds)
Word of Mouth
User Forums
News, PR, Announcements
Blogger Relationships
Owned
Brand and Product Websites
Mobile Brand and Product Websites
Proprietary Mobile Applications
Customer Care Services
Proprietary Digital Content
Social media is the on going
conversation of the planet.”
Key Social
Platforms
Photo Sharing Blogging
Micro Blogging
RSS
Widgets
Social Networking
Chat Rooms
Message Boards
Podcasts
Video Sharing
The conversations are powered by:
Social Media Tools
(just to name a few)
Active Worldwide Users
500,000,000 +
Pieces of content shared per month
45,000,000,000
Local business with active Facebook pages
1,500,000
Professional Social Network
Contains profiles of Fortune 500 executives and leading entrepreneurs
Average individual salary
on LinkedIn is $109,000
Wiki =quick
Studies show it’s as accurate
as Encyclopedia Britannica
If you were paid $1 for every article posted on
you would earn $1,712.32
PER HOUR
Registered Users
156,000,000 +
Updates per month
54,000,000 +
Users following a brand
31%
Brand recommendations per month
7,800,000 +
Improve customer service Promote a product or service Manage and respond to a crisis Event activation
Advocate an issue or cause
Business Objective:
Why Social Media?
In 2008, if you are not on
a social networking site, you are not on the internet.” Iab platform status report: User generated content, Social media, and advertising – An overview, April 2008
It’s not a fad.
It’s a fundamental shift in the way we communicate.
Reason #1 “We don’t have a choice on
whether we DO social media,
the question is how well we DO it.”
Erik Qualman
500 BILLION. The number of peer influence impressions Americans generate per year via social media.
Today
people are connected
500M
4 Billion. That’s 13x more than the National Library .
The number of images hosted on Flickr.
95% Companies using
LinkedIn to find
and attract employees.
Welcome to
The World of
Socialnomics
Reason #2 78% of people trust the
recommendations of other consumers.
Nielsen “Trust in advertising” report
While only 14% of people trust advertisements.
14% VS. 78% HMM…
The old communication model
was a monologue.
The new communication model
is a dialogue.
Only18% of TV ad campaigns
generate positive
ROI.
90% of people who
can skip TV
ads, do.
The average person is exposed to
3000 advertising messages/day
Reason #3 Social media is only
going to become
persuasive and as such,
become a critical factor
in the success or failure of any business.”
Brian Solis, Social Media Manifesto
How many social media users turn to social media when making purchase decisions?
By listed product, service category, and frequency
Regularly turn to social media Sometimes turn to social media
Tomorrow’s consumers are today’s “digital natives”.
By 2010, Millennials/ Gen Y-ers will outnumber Baby Boomers.
They already wield
$350 Billion/ year in direct spending power.
Millennials spend >16 hours/week online.
96% of them have joined a social network.
They have an average of
120 online friends.
Acquaintances 51%
Online Friends 38%
And they don’t care
about your Ads.
They care
what their friends think.
Translation:
The train is leaving the station.
WITH or WITHOUT YOU.
How do I
get on the train
Learn About Your Audience
Who/Where are they? What is their personality like? How/Where do they consume?
How/Where do they engage?
Treat this part very seriously. It is a myth that successful communication relies mainly on delivery style.
What you say is just as important as how you say it.
The Importance of Words
Certain words have great psychological impact on us. They address our basic human desires and our emotional needs and wants.
They compel us to pay attention and take action. Successful copywriters use certain words to add persuasive power to their ads.
Description Specificity can result from descriptive language.
Which dessert would get your attention faster? Something described as “A sinful combination of bourbon-soaked vanilla beans and fresh raspberries With a chocolate ganache surprise”.
Somethingdescribed as “ChocolateDessert”.
Get your audience salivating
Clarity Avoid vague, nebulous corporate-speak.
Nothing puts an audience
off more than uncommitted, detached phrases.
Authenticity Much of the language in corporations today is clichéd, vague, and pretentious. When speaking, be concise, clear, and authentic – get to the human side of language.
Call to action If you end with a call to action, make it clear and specific. Your audience should know exactly what they are called to do and have reasons for taking that course of action.
Leave the participants with a memorable comment or question that ties directly back to your main point.
Leave Them
Wanting More
Most messages should end in such away that participants are inclined to crave more information you may share with them later. When appropriate, leave the audience at a climax: promise that in a future message you will provide additional useful information. The human brain seeks closure.
Participants will be inclined to return to something that has not been solved completely.
Choose your
channels wisely
Use Your Channels To Engage And Drive Traffic
Make Social Media
Work for Your Company
Who is doing it
RIGHT?
doing it RIGHT
By the end of 2009, Dell had generated $6.5 million
in sales from Twitter alone.
doing it RIGHT
On April 8th, 2008,
Frank Eliason set up
a Twitter account to
help Comcast users in need.
Since then, Comcast has helped over
150,000 customers
through Social Media.
is
doing it RIGHT
Starbucks gave their consumers a voice
Resulting in over 50,000 product ideas
360 Digital
Influence
75
Bust the Myth
“Social Media Activities” are only effective for direct to consumer marketing�
WRONG Social media is �
very influential and imperative for �B2B companies, as well!!
People do business with
PEOPLE
B2B in Social Media
•Humanize your company
•Grow your digital footprint
•Become a trusted advisor
93% of social media users�believe a company or a brand�
should have presence on social media
85% believe a company should go�further than just having a presence
Source : Cone Business Social Media Study 2008
79
“For companies, resistance to social media is futile. Millions of people are creating content for the social
web. Your competitors are already there. Your customers have been there for a long time. If your business isn’t putting itself out there, it ought to be.”
Business Week Feb. 19, 2009
CASE STUDY
Financial Advisor “Fergus”
Social media is game-changing…it is an intelligence source that
allows you to track unobserved, and for free, the movements of people in your network.
- Kip Gregory Author of “Winning Clients in a Wired World”
Financial Advisors’ Use of Social Media
Social Media Use
Despite regulatory impediments, Financial services professionals are using social media to network and gain
business.
“Reconnected with old friends who were looking for my type of expertise.”
“Referral of a client to another friend who looked me up through Facebook.”
“Discussion and referrals for speaking engagements.”
“Introduce from one client to a prospect through Facebook.”
“Social media has lead to greater awareness about me/my capabilities.”
“I feel that any time a client can see what you have done, who you know and what you are doing. They can build a better relationship with you.”
Source : Ledermark Social Media Survey March 2010
CASE STUDY
Meet Rick Bakas
1st Director of Social Media in the wine biz. �New Media sherpa, certified sommelier, �
Adviser/Coach for @BakasMedia, author of Quick Bites.
88
Rick has 50,330 followers alone on Twitter
Routinely has Twitter wine tastings for St. Supery
89
Why does this matter?
As a consumer in a wine store, wine labels jump out based on things people recognize.
If someone is shopping and not sure what they want but recognize St. Supery from Twitter, chances are they will buy a
wine from that vineyard.
90
Social Wine Stats Some key statistics that we have found:
• 700,000 people watch wine related videos each month.
•Over 7000 wine tweets/ day
•Over 1300 wine bloggers
•The wine experience has become portable with over 300 iPhone apps.
Although data on aggregate wine sales as a result of social media activity is limited,
significant new behaviors such as #winewednesdays on Twitter, and virtual
tastings have had an impact on wine sales, and word of mouth
And, YES…
There is more to learn every day…�Just as your 12-year-old…
www.edmodo.com
A free, secure, social learning platform for teachers, students, parents, schools
and districts.
www.edmodo.com
RECAP Confused?
94
Social Networks
•Facebook.com •Twitter.com •Myspace.com •Orkut.com
•LinkedIn.com�•Bebo.com •Last.FM •Meetup.com
95
B2B Social Networks
•LinkedIn.com •SlideShare.net •Xing.com •Plaxo.com •NetworkingforProfessionals.com
•Ecademy.com�•Ryze.com •Yammer.com
96
Video Sites
•YouTube.com •Hulu.com •Blip.tv
•Ustream.com�•Vimeo.com
97
Blog Platforms
•Blogger.com •Wordpress.com •Wordpress.org
•Tumblr.com �•Posterous.com
Q&A
Thank You
References 1. The Razorfish Social Influence Marketing Report 2. Research Micro Blogging Trend During World Cup,Sina.Inc 3. Brands and Social Media, Ogilvyone Worldwide 4. Power to the People – Social Media Tracker Wave 3 5. Social Media in Asia, 360 Digital Influence, Ogilvy Public Relations 6. Digital Actions and Their Effect on Advocacy, Consumer Insights Inc. 7. eMarketer,TechCrunch.com,LosAngelesTimes,KnowledgeNetworks 8. Social media for business, Slideshare 9. What the f**k is social media, Slideshare 10. Before you open your mouth, Slideshare