From the inception of human civilization, it is believed that sex is one of the most sought after desires by mankind (and womankind too, of course) One in five Americans say they're ready to have less sex to find time for spending more on the internet.
Social media is empowering the individual consumers
Are you ready to catch up with social media marketing in your marketing mix?
Six degrees of separation, and dunbar’s number theory
Meatball-Sundae – Doesn’t go together. You try to safeguard your existing business values and policies, while trying to harness the advantage of social media Brands can’t create a community. They can participate, foster, enhance a community. Because a community is not a site or a marketing campaign. After all, a community is about the relationships between like minded people and the ideas they exchange.
Big eCommerce firms find it difficult to translate social media into results (Scalability Problem) Big Social Networks find it difficult to monetize their scale (Revenue Model Problem) This Creates a New Market Opportunity..
Social Media Marketing
Marketing 2.0 A Recipe to Add Social Media to your Marketing Mix Amitha Amarasinghe www.amisampath.com Presentation at Jamagra Symposium on 24 th February 2010
Today’s Program www.amisampath.com Why Social Media? 1 What is Social Media? 2 How it affects Marketing? 3 How to Apply in Practice? 4
Some Statistics to Start With.. <ul><li>57% of global internet users has joined at least one social network </li></ul><ul><li>If Facebook is a country, it would be the third largest in population </li></ul><ul><li>There are over 500,000 Sri Lankans on Facebook, and it’s still growing </li></ul>www.amisampath.com
Doesn’t Matter Whether You are Online or Not… “ Google Never Forgets!” It knows what you did last summer ;-) www.amisampath.com
Sex Social Media Sells <ul><li>“ Social Network sites are now officially more popular than porn websites on the internet” </li></ul>“ One in five Americans says they're ready to have less sex to find more time for spending on the internet” Sigmund Freud Proven Wrong? www.amisampath.com
Changes in Consumer Behavior Only 14% of consumers believe what we say in our advertising 92% - prefer to talk to someone they know to learn more about the products and services they plan to buy 78% of people find peer recommendations either highly or fairly credible EMPOWERED Source: http://www.wildfirecompany.com/index.html / Keller Fay Group
Are Your Ready to Change? “ Your customers and rivals are figuring blogs and social networks out. Our advice: Catch up…or catch you later” Stephen Baker and Heather Green (Business Week) www.amisampath.com
What is Social Media? Social media is an umbrella term that defines the various activities that integrate technology, social interaction, and the construction of words, pictures, videos and audio [Wikipedia] It is the interactive second generation of internet (Web 2.0) on which the communication takes place not only from content creators to the users, but also vise versa and among the users as well www.amisampath.com
In a More Simple Language… “ Creation of web content, by the people, for the people” www.amisampath.com
What If? your brand could win a place in these conversations? “ Conversations with advocates increases purchase intent by 2 to 7 times depending on industry and brand” Brand Advocacy Dashboard 2005-06 www.amisampath.com
Social Media Marketing <ul><li>“ Is the marketing effort of securing a place for your brand, in the online conversations taking place on social media web” </li></ul><ul><li>Objectives </li></ul><ul><li>Brand building </li></ul><ul><li>Awareness </li></ul><ul><li>Creating loyalty </li></ul><ul><li>Generating sales leads </li></ul><ul><li>eCommerce </li></ul>www.amisampath.com
Channels of Communication in SMM www.amisampath.com
5 T’s of Social Media Marketing T alkers T opics T ools T ake part T racking Adopted from Andy Sernovitz’s Five T’s of Word of Mouth Marketing 5 T
T opics <ul><li>Worth Talking about </li></ul><ul><li>Not complicated </li></ul><ul><li>Not necessarily a marketing message </li></ul><ul><li>Not necessarily about the product you sell </li></ul><ul><li>Tied up to your “Brand” </li></ul><ul><li>Simple </li></ul><ul><li>Repeatable </li></ul><ul><li>Understandable </li></ul>www.amisampath.com 5 T
T alkers <ul><li>They are not professional marketers </li></ul><ul><li>Not necessarily your customers </li></ul><ul><li>Not necessarily the best customers </li></ul><ul><li>Most of the time “new customers” talk more </li></ul>www.amisampath.com 5 T
T ools <ul><li>Help people to tell others </li></ul><ul><li>Facilitate extended conversation </li></ul><ul><li>There’s no “too much” of tools (Eg: Youtube) </li></ul>www.amisampath.com 5 T
T ake Part <ul><li>Have a company presence in social media platforms </li></ul><ul><li>Talk to people </li></ul><ul><li>Say “thank you” and “I’m sorry” (Wow! Effect) </li></ul><ul><li>Help people to solve their problems </li></ul><ul><li>Dedicated person to manage social media conversations </li></ul>www.amisampath.com 5 T
<ul><li>Google Blog alerts </li></ul><ul><li>Blogpulse </li></ul><ul><li>Technorati </li></ul><ul><li>Cumulative brand mentions </li></ul><ul><li>Twitter @ mentioning </li></ul>T rack www.amisampath.com 5 T
Things to Watch Out <ul><li>Be real. Be honest </li></ul><ul><li>It’s not a “techy” thing </li></ul><ul><li>It’s not emarketing either! </li></ul><ul><li>It’s purely social! </li></ul><ul><li>Expect for rudeness! </li></ul><ul><li>Come down to earth </li></ul><ul><li>“ Meatball-Sundae Syndrome” </li></ul>www.amisampath.com
Who Can Effectively Use Social Media? <ul><li>Small & Medium Entrepreneurs (SME) </li></ul><ul><li>Start-up businesses </li></ul><ul><li>Restaurant Chains </li></ul><ul><li>Fashionable Goods </li></ul><ul><li>Travel & Tourism (Places) </li></ul>www.amisampath.com
The Future Revenue Model Trap Scalability Trap www.amisampath.com Social Network Sites Big Social Networks find it difficult to monetize their popularity eCommerce Firms Big eCommerce firms find it difficult to translate social media into tangible results Vacuum Social Commerce
Thank You ! Contact The Presenter Web www.amisampath.com Email amitha[AT]same_domain[DOT]com Twitter @Amisampath
About Jamagra Jamagra – “ Ja pura Ma rketing Gra duates", is the knowledge sharing forum formed by the graduates of the Department of Marketing Management of the University of Sri Jayewardenepura. Jamagra was first launched in May 2006, as the brainchild of Mr.Maxwell Ranasinghe, visiting lecture of the Department of Marketing Management. Since then, Jamagra has gathered over 50 marketing professionals passed out from the department, holding influential positions in some of the leading companies in Sri Lankan and abroad
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