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Developing a Revenue Generating Social Media Strategy

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Developing a solid social media strategy that will help generate revenue.

Developing a solid social media strategy that will help generate revenue.

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  • 1. Developing a Revenue Generating Social Media StrategyPresented by: Genia K. Stevens, MBA608.466.7612gks@geniastevens.com
  • 2. Q: What’s the benefit of your brand utilizing social media?A: People talk. They’re talking to each otherabout your brand on social networks. You canbe a part of that conversation.
  • 3. Before you get tooexcited . . . STOP!Make a plan.Develop your socialmedia strategy.Developing a strategyhelps you avoid pitfallsdown the road.
  • 4. To Develop a Revenue Generating Social MediaStrategy, Your Strategy Will Address TheseQuestions:•Who’s your target market?•Who are you?•What are you trying to accomplish?•Who will create, implement and manageyour campaign?•What tools will you use?•Where will your content come from?•What milestones will you establish•How will you measure your progress?•How will you manage your brand’s reputation?
  • 5. Who’s Your Target Market?•Determine your target market•What social networks do they use?•How will you locate them on the various socialnetworks?•How will you approach them?•When will you approach them?
  • 6. Who are you?•What does your organization/company do?•How does it benefit your target market?
  • 7. Who Will Create, Implement and ManageYour Campaign?•Senior level marketing staff (create)•Mid level marketing staff (implement)•Entry level marketing staff (manage ongoing tasks)•Interns (manage ongoing tasks)•Outsourced 3rd party (create,implement or manage ongoing tasks)•Knowledgeable•Passionate about building andmaintaining relationships
  • 8. What Tools Will You Use?•Blogs•Your web site•Video sharing web sites•Social networking web sites•Social media press releases
  • 9. Where Will Your Content Come From?•Articles•Blog posts•Videos•Press releases•News from trusted and reliable resources•E-Newsletters you subscribe to•Pictures•Contests•Surveys (quantitative and qualitative)•Share your connections’ content
  • 10. What Milestones Will You Establish?•Establish timeframes for accomplishingmajor goals (3 months, 6 months)•Time milestones with product/sitelaunches•Establish weekly and monthly tasks
  • 11. How Will You Measure Your Progress?•Use Bit.ly (or similar URL shortener)•Track how often your content is shared•Monitor level of engagement•Install Google Analytics•Utilize Facebook fan page insights•Track community growth•Track sales related to social media activity•Track leads obtained using social media activity
  • 12. How Will You Manage Your Brand’s Reputation?Assign a person or team to do the following:•Stay alert on the various social networks•Subscribe to Google alerts•Monitor brand mentions on all socialnetworks•Put out fires quickly•Respond to questions/comments about your company/product
  • 13. Brands that take the time to write a solid socialmedia strategy:1. Develop great relationships with their social community2. Avoid common pitfalls that damage their brand3. Create great content that get their community engaged and keep them engaged4. Turn their community members into brand ambassadors who sell their product or service to their friends and family5. Increase their revenue and growth by 60% (versus 8% for businesses that don’t use social media - Marketo Report, 2010)
  • 14. Questions? Comments?Genia K. Stevens, MBA608.466.7612gks@geniastevens.comwww.GeniaStevens.com Developing a Revenue Generating Social Media Strategy Presented April 10, 2012 – via Webinar to Chicago Area Businesses