A statistical insight into how ‘social’ the world is and case-studies of brands that have gone beyond customer interaction and successfully leveraged social media for making business processes a lot more efficient.
Social MediaAn alternate media for communication
Agenda •Stats on the market & adoption •Strategy framework for using social media •What are some of the popular platforms •What role can social media play for companies •Case studies & ROI•The coming trends in social media
The current market size and potential reach for digital marketing
The opportunity for Social Media marketing In 2011, internet users worldwide spent nearly 18 billion hours per month on social networking
A simple definition:Do what you do best and link to therest – Jeff Jarvis
Characteristics of Social Media •Not a one-way communication channel. •Requires brands to decentralize their control over branded content. •Content needs to be customized to suit varied customer profiles like creators, critics, collectors, joiners, spectators, inactives. •Social Media is always accessible and available whenever the customer wants or needs it.
What do your customers do withSocial Media? Customers interact with brands and participate in conversations by playing one or more of the above roles using a variety of social networking platforms.
Why should companies use Social Media?The numbers are too large to ignore!
There were 3.1 billion email accounts in 2011 and this number is expected to rise to over 4 billion by 2015 Email marketing is set to grow from $1.3 billion in 2010 to $2 billion by 2014 90% of consumers across the There were 3.1 billion email world go online to send and accounts in 2011 and this receive emails everyday number is expected to rise to over 4 billion by 2015 Email lets you personalize communication and reach out to regularcustomers directly, with offers or products that specifically suit their needs and requirements.
Facebook has more than 800 billion active users and 50 percent of them log on Facebook everyday More than one million entrepreneurs and developers from over 180 countries have a presence on Facebook People spend more than 500 billion minutes on Facebook every monthFacebook allows to interact with current and potential customers by engaging in an informal, conversational manner through pictures, videos, questions, discussions and polls.
Blog Bloggers use an average of five different social networking sites to drive traffic to their blogs There are 450 million English blogs and including the non- English blogs this number might cross one billion 71 percent bloggers write 77 percent of internet users about the brands they think read blogs are reputable Blogs are an ideal way to keep readers updated on the companyevents and happenings and generate conversations about various matters that are of relevance to the company by inviting comments and opinions from experts or guest-bloggers.
$ 400 billion in ad revenue is projected for Twitter by 2013 Twitter gets more than 300 thousand new users everyday There are more than 600 billion searches on Twitter everyday The record for the highest number of tweets per second is 25088 (January 2012)Twitter lets you share short engaging posts with your followers. It can be used to share important news or drive traffic to the blog, Facebook or other social media pages.
You would need to live for around 1,000 years to watch all the videos currently on YouTube Currently, YouTube uses the same amount of bandwidth as the entire Internet used in 2000 YouTube Gets over three billionThe number of advertisers using views every single daydisplay ads on YouTube increased tenfold in the one yearYouTube is an ideal channel to share video ads, how-to videos, demonstrations, videos of important company events, etc.
LinkedIn has more than 135 million users More than two millioncompanies have pages on LinkedIn7,432,307 job changes have been tracked by LinkedIn 80 percent of companies around the since 2009 world use LinkedIn as a recruitment tool LinkedIn is a professional network that you can use fornetworking with clients, vendors, etc. and for recruitment.
Opportunities in the •There are 6 billion mobile phone Mobile Market connections in the world •More than one third of users access Twitter via their mobile phone •There are more than 100 million active users who access Facebook through their mobile devices •YouTube Mobile gets more than 100 million views per day •India is the world’s second largest mobile phone market with 893.84 million subscribers expected to increase to one billion by 2014. •The number of 3G enabled mobile connections in India is expected to reach 400 million by 2015.
Social Media opportunities in India•India has over 121 million internet users•70 percent of the internet users access socialnetworking sites.•Indians spend more time on social mediathan they do checking personal email•Over the next six months 45,000 onlineIndians intend to join social networking siteseach day•Nearly 40 million Indians use online reviewswhile taking purchase decisions•60 percent Indians who are social mediausers are open to being approached bybrands
How can Social Media help business?Strategy, Implementation, Monitoring
Methodology followed Forrester Research’s POST methodology •Understand the profile of your target audience. Find out how they People interact with social media, whom do they connect with and what they are looking for. •Decide what you want to do. You can listen to your audience and find outObjectives their needs, talk about your product offerings, empower your enthusiastic customers, provide customer support or collaborate with customers to do business better. •This will flow from the above two. The strategy should be in line with your brand and business. It should not focus on short-term gains like hits Strategy or click-throughs but work towards forging long-term relationships. You can partner with other companies that have an expertise in an area that is not one of your strong points. •Adopt technologies that your target audience is likely to favour. UseTechnology multiple technologies in order to target a wider range of customers. Differentiate your content depending on the type of customer and your objective across different social media and technology platforms.
Social Media Monitoring tools What are the kind of tools available? Free and Paid What can you monitor using these tools? How your customers use social media? Where your customers search for you? What keywords drive your customers to you? What your customers ay about you? What your customers say about your competitors?Why should you monitor your Social Media?To get maximum return on your investmentWhat else can you achieve by monitoring your Social Media? Increase engaging interactions Respond to criticism Rectify errors Ensure that you get the right message across to the right audience
Converse…Listen…Engage…Interact•You cannot just invest money in socialmedia and expect it to work.•Social Media is all about conversations.•And conversations will happen…with orwithout you.• So you have to take the efforts to engageyour target audience in interactions thatthey consider valuable.•Return on Engagement is as important asReturn on Investment.
Scope of Social MediaHR and Recruitment Product Development Customer Service PR and Reputation ManagementChannel Management Personal Brand Building Branding and Marketing
Examples of brands/companies making the most of Social Media
Adidas Group uses Twitter to share jobopenings and connect with potentialemployees. The URL ofthe particular listing isshared in order to help candidates navigate easily to the desired page on the website.
Dell effectively uses its Direct2Dell blog to attend to customer complaints and resolve them as soon as possible. The blog alsoallows Dell to share its stories with its customers and always stay connected.
Hippo, a brand of Parle Agro.,effectively used Twitter tokeep in touch with its retailerson a real time basis. Thischannel managementinitiative named plan-t (forTwitter), encouraged retailersto follow Hippo on Twitter andtweet their stockrequirements. A core cell wasset up to monitor theinformation and share it withthe distributors in the area. Itallowed Hippo to restockstored across 50 cities within afew hours and increase salesby 76 percent within fewmonths of the launch.
Madison Electric Products is a company that effectively uses a website toconnect with the public and source ideas for New Product Development. Anyone who has an innovative idea can post it on the website and thecompany responds after evaluating the commercialization feasibilities of the submitted idea.
Roop Kumar and Sunali Rathod, Indian playback singers, useYouTube to share their latest songs, videos of their performances and interact with their fans. YouTube is an effective medium for them to display their talent and manage their reputation and online presence.
Olympic Gold Quest effectively uses its Facebook page to garner support for itsinitiatives and also raise funds.
MicroGraam uses Twitter to enlist the support of celebrities and allow them to share tweets about its initiatives. This helps MicroGraam connect to a much wider base of followers and potential donors.
Coca Cola has developed aGaming app which allows it to increase brand communication and build an engaging relationship with its customers.
Infosys Technologies uses a blog to share knowledge and get different perspectives on the management, new trends and developments in the field of information technology.
Social Media Trends for 2012• Social gaming to spill into the real world• Convergence of social media and television• Most websites will go mobile• Traditional advertising will give way to content creation• Social media advertising will become more result oriented
Recommendations• Focus on programs, not tactics.• Shift budget to digital and social, but measure the impact.• Understand audience and business outcomes to make online tools work. – Develop a listening practice. – Monitor the impact of social on awareness and pipeline.• Create social programs with current customers in mind.• ROI & ROE