On October 23rd, 2014, we updated our
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social network sites (SNS) up from the same time last year in addition to a 46% increase in unique audience.
Mintel reports a 20% increase of
internet users adding a social network profile, now up to 61% from 12 months ago. Source: Ipsos Reid, Nielsen, Mintel -2010
App, fever is on the rise Although Apps are not social media, a number of them contribute to the “connect to anyone, anywhere, anytime principle”.
Touch owners spend 100
minutes each month, WebOS at minutes, Android – 80 minutes, and iPhone at 79 minutes.
150,000+ Apps at iPhone store
with 3 billion downloads. Google’s Android Apps are at 35,000 Appswhich grew 100% since January 2010.
Mobile is further stimulating SNS activity. Over 30% of smartphone
users access sites, up 22% from 2008. Facebook saw a 112% increase and Twitter increased by 347% from smartphone users. Source: TechCrunch, Admob, Comscore - 2010
Key social networks are holding strong Leaders that are relevant to businesses are not going backwards. These brands are positioned for entrenchment in business lexicons and culture.
Big business is getting into the swing Global 100 businesses are past putting their toe in the water.
For agencies this will mean a receptive audience to selling these services and building relationships with prospects through SM.
Source: Burson Marstellar- 2010
What do executives want from social media?
The good news is their needs reflect what agencies are well positioned to offer.
What content businesses want 62% of followers want news/value most from a business. However building loyalty requires more.
Businesses need to show their human side by talking about more than just their view.
U.S. and Canadian audiences are similar As a Canadian agency the good news is U.S. participants in SM are nearly the same as ours. Leading Network: Facebook SN profiles: Access = 46.2% | Users = 10.2m Photos: Access = 40.9% | Users = 9m Videos: Access = 14.9% | Users = 3.3m Blogging: Access = 10.6% | Users = 2.3m Micro Blogging Access = 5.1% | Users = 1.1m Leading Network: Facebook SN profiles: Access = 44.2% | Users = 92.1m Photos: Access = 42.6% | Users = 79.2m Videos: Access = 15.3% | Users = 23.3m Blogging: Access = 12.8% | Users = 17.6m Micro Blogging Access = 7% | Users = 10.7m Source: Engae- Brian Solis - 2010
Group B Findings 48% offered social media links Group A had less than 10% of sites integrated with SM Qualitatively speaking:
this group’s SM site integration was more creative
higher adoption rates of SM site links attributed to:
- smaller size
the desire to offer content and leadership
the U.S and U.K. being more progressive
5 Pitfalls Lacking monetization/success metrics Expecting SM to do the work No distribution strategy and process No engagement No conversion strategy
Pitfall: lacking monetization/success metrics Most common complaint is “why do SMwhen it’s not directly monetizable?” This perspective is wrong. Success can be measured through: URL Clicks Increased Traffic Customer Retention Incremental Sales Search Engine Returns Publicity ReachNew Sales Leads Nurture Marketing Database Build “Circulation” Brand Recognition Share of Voice And Much More…
Pitfall: expecting SM to do the work SM has been sold by Gurus as: Where your customers are talking about you Where everyone wants to hear your opinion “build it and they will come” This isn’t true. Businesses have fewer followers than their own staff. Source LinkedIn
Pitfall: no distribution strategy or process You need to bring people to your SM Low quantity is good, if you’re highly targeted High quantity is good, if want mass reach Failing at both is apathetic Source LinkedIn
Pitfall: no engagement It’s highly common to not have dialog in SM. 5 reasons why: 1. Not original thinking, regurgitating other perspectives 2. Too polished, no personality 3 . Can’t easily find the comment section 4. No dialog from the author 5. Author didn’t ask you to comment Dangers – your information is a commodity, dialog does not translate into offline conversation, you haven’t demonstrated value. Source: crowdsourced research on LinkedIn. 300 people responded with over 1,000 points of data (advice/answers) October 2009.
Pitfall: no conversion strategy Just because it’s social media doesn’t mean there shouldn’t be a sales funnel.
Frameworks For Success
The planning and implementation cycle
Matching technographics to SM brands
Defining your ecosystems
Planning And Implementation Relationships And Conversion Content and Distribution Planning and implementation cycle Missing any steps leads to a weakness in the following cycle components.
Planning and implementation cycle Blog – nil comments Twitter – 1,117 followers Facebook – 117 fans LinkedIn – 756 employees “We are Mindshare. The global media network. We are nearly 6,000 people in 67 countries with one aim: to make our clients’ brands more famous and more profitable.” - LinkedIn
Defining monetization Everything has a monetizable value in social media: it just needs to be defined with a realistic parallel activity. Definitions: Direct monetization – value that can be measured in new leads, sales, retention, incremental sales and cross sales. Indirect monetization – the value that would be attributed to getting the same result if you spent money on the same activity. Examples includes; traffic, URL click throughs, search engine ranking, share of voice, advertising, new emails, and much more. Indirect monetization work through: If you were to drive 10,000 clicks through to your blog or video how much would it cost you to get that traffic via PPC, broadsheet ads, direct mail, etc?
Matching technographics to SM brands The conversation has been backward in business social media discussions for the past 3 years. It’s not about Facebook It’s not about Twitter It’s not about YouTube, etc It’s about what we know already, it’s about what the target audience’s psychographic and technographic profile is. The foundation for engagement comes from giving people what they want creatively and pragmatically.
Matching technographics to SM brands Technographic Profile Research Customer service Advice, News Socialization Avoids social sites Prefers business sites Checks once a week Prefers Email or Twitter Frequency of needs Categorizing Behaviour Livecasting Video and Audio Events Documents/Content Customer Service Crowdsourcing Collaboration Video Location Reviews and rating What Digital Brands LinkedIn Twitter Facebook YouTube Plaxo Blogger Wordpress What Media Phone Apps Blogs Bookmarking Micromedia Forums Social Networks Wiki’s iPhone Flickr Vimeo Digg Slideshare DocstockSocial Text
Defining Your Ecosystem Ecosystems in social media play a crucial role in assisting success or being an unseen force that makes it elusive. Definition of Ecosystem The relationship of one or multiple social networks with each other and online and offline factors contributing to people interacting those social networks. Ecosystems Variables – Brief Overview Time – the more social networks a business has the more nurture time required Costs – these can remain low due to simplicity or become high due to complexity Continuity – maintaining the same messages, frequency of communication, image, etc Measurements – as complexity increases so does the difficulty for understanding ROI. Relationships – these happen at 3 levels. The first level is with the host of the community. The second is with members between each other in the community. The third is relationships with members and the host in multiple communities.
Social Media Ecosystem Cozy Community A community that revolves around a customized blog, Wiki, or forum. 80% of effortgoes into developing thiscommunity.Benefits - Simplicity
Ease of measurement- More intimate relationships- Least resources required- Search engine optimization
Downside - Your audience may not like blogs Internal Company Blog Offline URL Referrals Collateral, Advertising
Social Media Ecosystem Cozy Community Secondary social centre Primary social centre Secondary social centre
More Ecosystems Busy Metropolis This is a social network within a network with many other communities. Facebook and LinkedIn fit this description. You can customize your own community, create new communities, and participate with other members and their communities. Multiple Municipality Management This is an ecosystem where the host agency builds profiles on multiple social networks like YouTube, LinkedIn, a blog, Technoratti, etc. The goal is to build a number of fully active communities that are all fully maintained.
Commitment For Success Understanding the medium’s effort required Technographics should lead to the SM selection. Any form* of SM can be effective if the planning and implementation cycle is followed. *pending technographics
Commitment For Success 10 Steps 1. Integrate with marketing plans – branding, messages, resource 2. Interactive media plan – technographics, communication plan, resources, metrics, ecosystem 3. Social media platforms(s) – either in it or not, flirting doesn’t count 4. Unique content – you’re in the news business now 5. Distribution – integrate into all your channels, reach out to new and existing contacts 6. Audience Interaction – find reasons to motivate people to talk to you 7. Online dialogue – interact with the comments and people… this can be tough 8. Offline dialogue – transition comments to emails, phone calls and meetings 9. Relationship conversion – prospects move into a managed sales process to monetize 10. Program analysis – measuring, refining, managing the process, revamping
Costs – rough estimates Type of SM and weekly frequency low – 1 hr/wk ($25/hr *52) = $1,300med – 3 to 5 hrs/wk = $3,900 to $6,500 high – 6 to 10 hrs/wk = $7,800 to $13,000 Scenario AScenario BScenario C Existing SNS Bespoke SNS Bespoke SNS Soft launch Soft launch Hard launch Integrated CRM PPC / SEO management Potential Direct Costs + Labour + Labour + Labour + No cost + No cost + TBD… ? + % of overheads + % of overheads + % of overheads + $1,000 - $15,000 + $1,000 - $15,000 + $5,000 - $15,000 + labour and/or ads
Matching technographics to SM brands The conversation has been backward in social media conventions and articles since it hit the spotlight for the past 3 years. It’s not about Facebook It’s not about Twitter It’s not about YouTube, etc It’s about what we know already, it’s about what the target audience’s psychographic and technographic profile is. The foundation comes from giving people what the want creatively and pragmatically.