Social Media 101     Presentation to members ofDowntown Halifax Business Commission              March 29, 2010           ...
The Social Media bubble will burst• There is no bubble• The tools will change, the platforms will evolve• We’re hard-wired...
Anyone can do that job     Anyone can do that job• Just because someone spends time on Facebook doesn’t  mean that he/she ...
Have a plan
Be yourself•    Listen•    Keep RT’s to a minimum•    Share original ideas (be inspired by best practices)•    Be creative...
Set guidelines
Know how you’ll speak to your followers• Know your target audience• Quality vs quantity• Don’t add to the noise
How we use social media
Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics
Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & com...
Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & com...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
Greater Halifax Partnership and Social Media•   Annual Social Media Strategy with metrics•   Incorporated into marketing &...
why we use social media?
social media ROI
It’s not just about…        Facebook likes or followers on Twitter
But they’re good for measuring “engagement”                          For example•   Shares•   Mentions (positive, negative...
It’s really about• Lowered cost of new customer acquisition• Reduction in average customer serving costs• Increasing custo...
Here’s what you can do
What are your social media objectives -   awareness? -   lead generation? -   visits to website -   more relationships?
There are 3 categories of measurement              Quantitative Metrics              Qualitative Metrics                 R...
#1 Quantitative Metrics          These metrics are data-intensive & number-oriented.Success Metrics                       ...
Dell is capitalizing on Twitter’sreal-time nature for exclusive,limited – customer / limited-period offers
#2 Qualitative MetricsThese metrics have an emotional componentHere’s a campaign to increase satisfaction:Success Metrics ...
Users felt that they had a role in the decision makingprocess of the company.They felt that Starbucks cared.
#3 ROI MetricsAll roads lead to hereConversion rates:Success Metrics                         Goal% of people you converted...
Let’s do some math
Understand your Customer Lifetime Value (CLV)   It’s the most important formula in social media   CLV is the amount of rev...
Estimating your Customer Lifetime Value (CLV)  For example:  Typical customer spends $10 per month and  stays loyal for 3 ...
Customer Lifetime Value (CLV) and social media    Many people use   10% of their CLV as a starting point.    So they’ll sp...
Customer Lifetime Value (CLV) and social media  $36 is what it takes to get 1 customer.  Let’s say you want to run a Socia...
What $3,600 can get you  Landing page?  Mobile app?  Monthly e-newsletter with tips to stay in  front of prospects and new...
Pay off?
Pay off? - More engagement with your audience - Understanding your audience’s behaviours - Measurement - Goals reached - B...
Thank youMaria McGowanInternet & Marketing SpecialistGreater Halifax Partnership       @mariamcgowan       @greater_halifax
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Social Media 101

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This is a presentation that Greater Halifax Partnership's Maria McGowan delivered to member of the Downtown Halifax Business Commission on March 29, 2011

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Social Media 101

  1. 1. Social Media 101 Presentation to members ofDowntown Halifax Business Commission March 29, 2010 Maria McGowan Internet & Marketing Specialist Greater Halifax Partnership
  2. 2. The Social Media bubble will burst• There is no bubble• The tools will change, the platforms will evolve• We’re hard-wired to be social• We did not grow tired of the telephone, television or the internet• It’s value is too great to give up• Mobile technology is the game changer
  3. 3. Anyone can do that job Anyone can do that job• Just because someone spends time on Facebook doesn’t mean that he/she is qualified to be an online community manager for your organization• Not as simple as managing a personal social media account• Set criteria, guidelines and even a strategy• This is a serious, legitimate activity
  4. 4. Have a plan
  5. 5. Be yourself• Listen• Keep RT’s to a minimum• Share original ideas (be inspired by best practices)• Be creative, clever and find angles• Be positive• Keep at it and ditch the corporate speak• Handle negativity on an individual basis• Don’t be a parrot
  6. 6. Set guidelines
  7. 7. Know how you’ll speak to your followers• Know your target audience• Quality vs quantity• Don’t add to the noise
  8. 8. How we use social media
  9. 9. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics
  10. 10. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan
  11. 11. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting
  12. 12. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)
  13. 13. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)• Live-tweeting during press conferences, events, meetings etc (with hashtags)
  14. 14. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)• Live-tweeting during press conferences, events, meetings etc (with hashtags)• Newsroom environment
  15. 15. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)• Live-tweeting during press conferences, events, meetings etc (with hashtags)• Newsroom environment• Immersed into our culture, lunch & learns/one-on-ones
  16. 16. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)• Live-tweeting during press conferences, events, meetings etc (with hashtags)• Newsroom environment• Immersed into our culture, lunch & learns/one-on-ones• Senior exec’s are tweeting
  17. 17. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)• Live-tweeting during press conferences, events, meetings etc (with hashtags)• Newsroom environment• Immersed into our culture, lunch & learns/one-on-ones• Senior exec’s are tweeting• Regular internal emails – when we reach milestones, staff member wrote a blog post etc
  18. 18. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)• Live-tweeting during press conferences, events, meetings etc (with hashtags)• Newsroom environment• Immersed into our culture, lunch & learns/one-on-ones• Senior exec’s are tweeting• Regular internal emails – when we reach milestones, staff member wrote a blog post etc• Annual awards (internal)
  19. 19. Greater Halifax Partnership and Social Media• Annual Social Media Strategy with metrics• Incorporated into marketing & communication plan and organizational business plan• Monthly reporting• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)• Live-tweeting during press conferences, events, meetings etc (with hashtags)• Newsroom environment• Immersed into our culture, lunch & learns/one-on-ones• Senior exec’s are tweeting• Regular internal emails – when we reach milestones, staff member wrote a blog post etc• Annual awards (internal)• Experimenting/ learning environment
  20. 20. why we use social media?
  21. 21. social media ROI
  22. 22. It’s not just about… Facebook likes or followers on Twitter
  23. 23. But they’re good for measuring “engagement” For example• Shares• Mentions (positive, negative or neutral)• Blog comments• Retweets• @mentions• email opens and click through rates• “likes” of a Facebook page … That kind of stuff
  24. 24. It’s really about• Lowered cost of new customer acquisition• Reduction in average customer serving costs• Increasing customer satisfaction
  25. 25. Here’s what you can do
  26. 26. What are your social media objectives - awareness? - lead generation? - visits to website - more relationships?
  27. 27. There are 3 categories of measurement Quantitative Metrics Qualitative Metrics ROI Metrics
  28. 28. #1 Quantitative Metrics These metrics are data-intensive & number-oriented.Success Metrics Goalmonthly sales directly linked to Twitter $ monthly salesnew customers directly linked to $ monthly sales directly linked toTwitter Twitter
  29. 29. Dell is capitalizing on Twitter’sreal-time nature for exclusive,limited – customer / limited-period offers
  30. 30. #2 Qualitative MetricsThese metrics have an emotional componentHere’s a campaign to increase satisfaction:Success Metrics GoalAmount of positive comments sent to Amount of positive conversationscustomers per week within a given about your organization or companytime per weekAmount of good suggestions that your Amount of suggestions collected percompany hadn’t thought of month and amount that you actually implement
  31. 31. Users felt that they had a role in the decision makingprocess of the company.They felt that Starbucks cared.
  32. 32. #3 ROI MetricsAll roads lead to hereConversion rates:Success Metrics Goal% of people you converted from a Increased customersprospect to a customer on your e-commerce siteHow many people you converted from a Increased clientsprospect to a client on your B2B site
  33. 33. Let’s do some math
  34. 34. Understand your Customer Lifetime Value (CLV) It’s the most important formula in social media CLV is the amount of revenue a customer will bring to your company over the course of his/her lifetime with your brand.
  35. 35. Estimating your Customer Lifetime Value (CLV) For example: Typical customer spends $10 per month and stays loyal for 3 years. $10 x 12 months x 3 years = $360 (CLV)
  36. 36. Customer Lifetime Value (CLV) and social media Many people use 10% of their CLV as a starting point. So they’ll spend $36 to acquire 1 new customer
  37. 37. Customer Lifetime Value (CLV) and social media $36 is what it takes to get 1 customer. Let’s say you want to run a Social Media campaign to get 100 customers $36 x 100 = $ 3,600 campaign budget
  38. 38. What $3,600 can get you Landing page? Mobile app? Monthly e-newsletter with tips to stay in front of prospects and new customers? Video(s)? Facebook ads or LinkedIn ads…? Test…test…test…
  39. 39. Pay off?
  40. 40. Pay off? - More engagement with your audience - Understanding your audience’s behaviours - Measurement - Goals reached - Buy in
  41. 41. Thank youMaria McGowanInternet & Marketing SpecialistGreater Halifax Partnership @mariamcgowan @greater_halifax
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