Social Media Presentation

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With new social technologies arriving on the scene every day, it's easy to get overwhelmed. This presentation provides step-by-step guidelines to help simplify your social media strategy. …

With new social technologies arriving on the scene every day, it's easy to get overwhelmed. This presentation provides step-by-step guidelines to help simplify your social media strategy.

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  • 1. Social MediaAn Introduction for Marketers
  • 2. What is social media? Social media is the use of web-based and mobile technologies to turn one-way communication into interactive and/or multi-party multi party dialogue Source: http://en.wikipedia.org/wiki/Social_media 2
  • 3. A look at the quick rise of the social media players1997 • Sixdegrees.com launches, allowing profile creation and listing of friends2002 • Friendster launches, pioneering the online friend connection and grows to 3 million users in the first three months • MySpace launches coded in 10 days to compete with Friendster launches, Friendster.2003 LinkedIn also launches2004 • Facebook is launched, originally as a way to connect college students and now has 600 million users2006 • Twitter launches with first tweet and now on average 460,000 new accounts created daily2008 • Facebook overtakes MySpace as the leading social networking site2011 • And now the landscape is cluttered with more popping up everyday …Foursquare, Quora, tumblr, reddit, StumbleUpon, digg, flickr, etc., etc. Source: http://en.wikipedia.org/wiki/Social_media 3
  • 4. Facebook has nearly three times as many visitors ascompetitors p 4
  • 5. How social media and web 2.0 are changing the playingfield Monologue where brands broadcast Dialogue between message out to network of people p p single user i l Are brands even ? invited into this conversation? 5
  • 6. How to think about (the somewhat black box of) socialmedia Old School Strategic Free (PR, Buzz) Tactical Marketing Strategic Paid (Advertising) Tactical 6
  • 7. How to think about (the somewhat black box of) socialmedia Active Strategic St t i New World Passive Free/ Earned Active A ti Tactical Passive Social Closer thanMarketing Media ever before Active Strategic Passive Paid Active Tactical Passive 7
  • 8. Why marketers like social media Old School New World Media vehicles only allowed one  Social media enables two way way communication to the masses dialogue between individuals where where brands pushed out brands can be part of the messages conversation The cost of entry to purchase  The cost of entry for social media is media was expensive for TV, radio, inexpensive and even free as part of magazines earned media People trusted brands and  People trust their friends and those in institutions their networks Word of mouth was confined to  Word of mouth and the buzz factor people’s neighborhood and book have an almost infinite reach club It took years to create a brand t k t t b d  Brands can very quickly establish a identity personality 8
  • 9. Social media trends  The 35+ demographic now represents more than 30% ofEveryone is doing it Facebook’s user base  The 55+ audience grew 922.7% on Facebook in 2009 Ability to localize  Proliferation of targeting tools Global growth  Over 70% of Facebook’s users are outside the US Going mobile  Over 200 million Facebook mobile users  Mobile everything: purchasing, loyalty programs Quality is king  Quality of connections has replaced the quantity of connections  “Friending” and “following” has become much more selective Collective buying  Ri Rise of G f Groupon and Li i S i l d LivingSocial Source: facebook.com, Mashable, istrategylabs, Nielsen 2010 Media Fact Sheet, and other articles 9 and analysis
  • 10. A quick look at which social sites are best for whichoutcomes Customer Brand Traffic to SEO Communication Exposure Your Site Good! G d! OK! Bad! B d! Source: CMO.com 10
  • 11. Stop and think before you tweet, like, post, connect…The 5 questions you need to answer: 1. Why should my product be using social media? 2. How does it support the larger strategic objectives? 3 How does it fit the brand personality and brand promise? 3. 4. How does it integrate with the rest of the marketing plan? 5. What will we do with the community once we build it? 11
  • 12. The proliferation of social media poses many challengesto marketers and their brandsThe 3 biggest challenges your brand will face: 1. Each of your employees and agencies represents your brand to thousands of people and can easily go rogue 2. All of your customers, both the happy and the unhappy, have a forum to publicly voice their thoughts about your brand 3. Your brand’s identity will be based on all of these collective “voices” not just the content that you authorize 12
  • 13. Do’s & Don’ts “We no longer control the message. We manage the dialogue.”*DO: DON’T: Identify a “ringmaster” and a “chief ringmaster chief  Overshare or leak listener”  Get too comfortable and forget the Use a consistent voice brand Get creative  Criticize Be quick and adaptable  Alienate your “friends” Be authentic and genuine *Source: Jaime Cohen Szule of Levi Strauss & Co 13
  • 14. A social media success story■ Started with My Starbucks Idea on website and then “Ideas in Action” blog – Shows they are listening to consumers y g■ Now have over 20M fans on Facebook and over 1.3M followers on Twitter – 600K people RSVPed for Free Pastry Day – Have Foursquare exclusive Barista badge – Consumers are promoting the brand themselves 14
  • 15. B2B social media successes and strategies■ Generate leads (Regus)■ C Create a specialized community (Ki i li d i (Kinaxis) i )■ Improve SEO (Delivra)■ Be a knowledge source ( g (CMB) ) Source: Mashable 15
  • 16. Defining the goal and determining results Build ■ # of fans or # of followers Awareness Deepen ■ # of wall posts or # or tweet mentions Engagement Create ■ Sharing post or forwarding recommendation to Advocacyy afi d friend Drive ■ Redeeming online coupon or offer Behavior 16
  • 17. Is there payback and how should marketers think aboutsocial media ROI?Everyone needs to monitor brand reputation in social media (and beready to respond as needed), but not everyone should invest. y ) yDevelop a method to estimate impact of social marketing initiative:1. Describe the possible investments – cost and duration2. Sk t h out the rationale Sketch t th ti l3. Develop a marketing funnel that starts with awareness and ends in estimated sales dollars4 Hypothesize how initiative might work through the funnel4. • Key element is the value of networking and the impact of receiving message through friend or network5 Share ROI estimates with key decision makers5. decision-makers6. As initiative progresses, measure extent to which hypotheses are being supported or rejected by reality Source: “Social Media ROI” by Robert Duboff and Scott Wilkerson 17
  • 18. This is what a marketing funnel analysis might look like Awareness • Awareness of promotion 1,000 Interest • Interest in taking advantage 800 • Consider coming to restaurant 400 Consideration because of promotion • Coming to restaurant because of promotion 25-50 Purchase (netting out those who would have come anyway) Profits • Profits f P fit from attendance (include profit of tt d (i l d fit f $250 $500 $250-$500 those they bring with them) Lifetime • Lifetime value of these customers $25,000 - Value (based on other data/experience) $50,000 Source: “Social Media ROI” by Robert Duboff and Scott Wilkerson 18
  • 19. How should your company think about social media?■ What strategy would you recommend?■ How would you describe the recommended strategy in one sentence?■ What elements should it include? – Big idea, tactics, sites, etc. g , , ,■ What is the right level of investment – people, time, resources?■ How should it integrate with your current marketing strategy?■ What should you do to ensure your company remains credible and relevant?■ What should you avoid doing?■ How will you stand out f H ill t d t from th pack of b d using social media? the k f brands i i l di ? 19