HOW DO YOU SELL WITH SOCIAL MEDIA? Presentation prepared by Magdalena Pawlowicz, Partner @ Social Viper/Komfo
Agenda• How to generate profit from social media efforts?• How to best monetize your social media activities?• How to get sales when “social” is not supposed to be sales-oriented and how to speed up the sales process?
• How to generate profit from social media efforts?
Some Definitions..• Sales generate revenue. Marketing generates profits.• Marketing, including social media marketing, is about efficiency.• Marketing is a process of decreasing the time, money, and resources required to communicate with customers and make it easy for them to buy products and services.• The more efficient your marketing is, the more profit you make. That’s what you want to optimize for.
Companies not only have more accounts thanever, but more people publishing on them Total Employees Avg. Number of Employees Posting 2,500 13 7,500 22 30,000 83 75,000 182 100,000+ 280 For companies over 5,000 Source: Survey, Altimeter employees the ratio stays fairly constant – i.e. companies are hiring more staff in order to scale
Microsoft has more than 178 social channels..Four Seasons has 84 twitter accounts..You’d better have a standardized process ofmanaging login credentials, allocation andscheduling of tasks and postings, standardizingreporting and analytics, and not least handlingengagement
GiffGaff mobile – Social CRM & Community/Sharing Marketing –> Saving £20m per year GiffGaff has no call center. Instead, the community receives pre-pay credits and badges for contributions. The community answers 50% of customer questions. The average response time is 3 minutes. GiffGaff estimated that if O2 could replicate the model with just 25% of their customers participating, they could save £20m per year
Best Buy leverages “super users” to answer30% of all questions - > Increased cost savings Started in 2008, Best Buy’s community receives 2.5 million visitors a year, generating 100,000 conversations. In addition, 25 super users spend 8-12 hours a week on the site answering about 30 percent of all the questions Savings in employee social costs, asked. fixed costs, overhead costs,
Streamlining operations to get marketingefficiency is the Top Priority Top Priorities are Scalable Deployments Source: Survey, Altimeter 9
Social Media Management Systems are creeping into marketing departmentsSource: komfo.com
How to best monetize your social media activities?
Integrating Social into Corporate/Brand Websites/Landing Pages is step 1 0. No 1. Social 2. Social 3. Social 4. Seamless Integration Linking Publishing Aggregation inegration Passive Basic Feeds Sharing Active Curated Sharing Aggregation SocialMost companies are here in EU Content
Monetization through Efficient SocialBroadcasting Publishing marketing content (deals, media, news): Requirements include ability to post a variety of media types; ability to target messaging based on time, geography, social networks, and demographics; and a content library.
Social Broadcasting Case: The Palms HotelThe Media Leaders, a group using HootSuite on behalf ofThe Palms, used targeted messaging to Twitter andFacebook users based on keywords and location, includingtrackable links. In a 30-day period The Palms gained 2,600 followers, exceeded the room rate reservation goal by 47% and exceeded revenue goals by 67% 14
• How to get sales when “social” is not supposed to be sales-oriented and how to speed up the sales process?
Let us get a couple of things Straight • 51% of consumers are more likely to buy from a brand they follow on Facebook. • 56% of web buyers cite the facebook wall and fan pages as having significant influence over buying decisions. • F-Commerce increases conversion; 51% increase in likelihood a customer will purchase, after clicking the ‘like’ button. Various sourcesUsers do not see sharing as a ’Sale ’as it comes from a trusted source: your Friend
Speeding up your Sales Process TargetingExtending your Increase Velocity Influencers to Reach of Pipeline drive conversions Boosting the Better Return value of through Better Marketing Leads
Better Return Through Better Leads• Getting to know your Prospect, Establish Relationships and Endorse those through a 3rd party ................through whatever social media channel you Source: Social Viper use
Tagerting Influencers to Drive ConversionSource: Komfo