More Than Just Friends

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How to monetize social networks.

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More Than Just Friends

  1. 1. © SpiderWeb Connections More than Friends:How to Monetize Open Social Networks
  2. 2. AUTHOR:Susan Schauer John Susan is the media marketing creator of Spider Web Connections.
  3. 3. © SpiderWeb ConnectionsTo MonetizeSocial Networks: Marketers need to invite their followers to be more than just “friends”.
  4. 4. © SpiderWeb Connections Research shows:• Customers want to be more than just a “generic” friend of a company or brand.• Open social networks like Facebook and Twitter are where consumers expect to interact with individuals – their friends, colleagues, acquaintances and professional networks.• Any benefits they receive from ‘friending’ companies in social networks are considered ancillary.• In addition, consumer want direct connections with companies and with other customers.
  5. 5. by sean micholsonwww.socmedsean.com
  6. 6. © SpiderWeb Connections What does the customer want from companies? Customers prefer to have separate “customer communities” that are:• Run separately from open social networks – but have strong links to them so they can easily share information.• Proactively managed by companies.• Tightly integrated with the companies website.
  7. 7. © SpiderWeb ConnectionsWhy don’t consumers seekrelationships with companiesthrough open socialnetworks? It is about and .
  8. 8. © SpiderWeb Connections Once Introduced to a product or service:• 81.1% of people say they would next visit the companies’ website.• 25.7% would visit a retail store.• Only 19% would look at it’s Facebook page.
  9. 9. © SpiderWeb Connections Context and ContentCustomers want branded customercommunities to provide: Relevant, Trusted information at every stage in their buying cycle.The context of the buying cycle is nothappening in traditional socialnetworks. Instead, it’s happening onthe broader internet – Primarily onmanufacturer and retailer websitesthrough organic search.
  10. 10. © SpiderWeb Connections
  11. 11. © SpiderWeb ConnectionsResearch conducted by the Incyte Group: www.incytegroup.com
  12. 12. © SpiderWeb Connections Research conducted by the Incyte Group: www.incytegroup.com©spiderwebconnections
  13. 13. © SpiderWeb ConnectionsResearch conducted by the IncyteGroup: www.incytegroup.com
  14. 14. © SpiderWeb ConnectionsChart #5 How Consumers Prefer to be Introduced to Branded Consumer Communities and Impact on Participation Rates: Research conducted by the Incyte Group: www.incytegroup.com
  15. 15. © SpiderWeb Connections The Point:The surprise is not that consumersexpect to find information aboutproducts and services on a companywebsite.What is important to know is thatconsumers prefer branded customercommunities over social networks whenthey are seeking information to make apurchase decision or accessing serviceand customer support.
  16. 16. © SpiderWeb Connections In other words:• Consumers don’t want brand relationships to be part of their open social networks; instead• They want company Websites to be more like their experiences on opens social networks.
  17. 17. © SpiderWeb Connections Therefore:Step 1: Create a branded customercommunity.Step 2: Make sure this community offers: - strong link to social networks - content that is indexed by all search engines - support based on consumer needs - technical flexibilityStep 3: Leverage your community to turnyour best customers into advocates.
  18. 18. © SpiderWeb Connections
  19. 19. Word of mouth marketing from a companies bestcustomers is the biggest untapped marketingopportunity out there.
  20. 20. © SpiderWeb Connections References:• Incyte: To Monetize Open Social Networks, Invite Customers to be More Than Just “Friends”. A white paper about the new form of marketing for business. – More on study: www.getsatisfaction.com – Research conducted by the Incyte Group: www.incytegroup.com• Jay Baer and Amber Naslund have written a terrific book called: The Now Revolution. It captures completely the new face of marketing for businesses. http://www.convinceandconvert.com/• Tom Fishburne, “The Marketoonist” : http://tomfishburne.com/• There are a number of great social media newsletters available for free that I read regularly and highly recommend. Each has contributed to my education and writings. They include: – http://www.socialmediaexaminer.com/ – http://maximizesocialmedia.com/ – http://www.toprankblog.com/ – http://www.bizsugar.com/ – https://www.facebook.com/business/build
  21. 21. Anonymous.com They will never be gone!!
  22. 22. Call us today:410-253-9131

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