Social Media Marketing: Nigerian Business Presentation
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  • Putnam in Bowling Alone wrote of the death of community as PTAs became poorly attended, neighbors no longer knew each other or held block parties, and folks stopped volunteering at hospitals and other events. He blames this, in part, on the highway infrastructure which allowed people to move far from their birthplaces, move frequently, and spread out at greater distances from each other and their workplaces. This led to feelings of isolation. Other factors contributing to the death of community are the increased appeal of solitary activities such as watching TV, listening to music, or surfing the internet. While once these activities were done in a group, they are now increasingly being done along – with each family member doing his “own” thing.People also feel pressed for time between long commutes, more 2 income families who squeeze housework and childrearing into once free time, and many leisure options, people are busy and no longer have time to spend building relationships. The increased appeal of online dating services (with over 20 million in the 2 most popular sites) and a resurgence of matchmaking services show how bad the isolation has become. Social networking offers community that helps replace real community and has several advantages – namely that its there when you want it through computers and mobile devices – but you can turn it off when its not convenient. Traditionally, these platforms were text based, but now pictures and video are increasingly common and likely integration with Skype will round out the electronic options for connecting in cyberspace.Another advantage of online community is its ability to manage self presentation so you can be the person you choose to be rather than the person you are.
  • Social media involves spreading commercial messages through these social platforms rather than paid commercial media such as TV and radio. Part of the appeal of this channel is that transmission is free, which is important for small businesses who are often strapped for cash to spend on advertising. However, social media are not free – as we’ll see later. However, they are still an excellent tool for small businesses.The reason social media CAN be an effective communication channel is the care consumers have exercised in constructing networks of friends, relatives, school chums, and random people whose lives have intersected their own. Network folks call this your social graph. In order for commercial messages to spread across social platforms two things must happen – individuals must be willing to spread the message to their social graph and members of their social graph must be influenced by the message to alter their attitudes, their behaviors, and/or spread the message further.If properly motivated, consumers will pass your commercial message to their social graph. Often motivation simply takes the form of celebrity and status that accrue to consumers who are “in the know” about developments such as new products, special offers, interesting brand facts, or other tidbits of information. It’s the same factor that makes people become new reporters or gossip – the feeling of specialness that comes from knowing what others do not. Being the first to share information also makes the individual feel special and the center of attentions – they become a minor celebrity. Members of the individual’s social graph changes their attitudes, behaviors, or shares the message in exchange for social capital. Thus, influence is based on the amount of social capital a person holds. Because there are ways to assess SOME types of influence online, measures of influence have been developed, such as Klout and PeerIndex, which both measure observed behavioral changes such as opening a link or passing on a message in one or more social networks.Since social capital is the currency that pays for social media, its important to understand where it comes from. Social capital comes from positive interactions with others that lead to respect, authority, trust, and based on norms of reciprocity – tit for tat. Social capital is often thought of as a personal brand.An important element underpinning the value of social networks for social media is the similarity between the individuals making up the social graph. This means the individuals are likely in the same target market thus having similar problems and needs. The more similar the individuals in the graph, the more likely they are to share a common social lens – or way of looking at things – have similar experiences, and have a common vernacular to aid communication.
  • Increasingly, small business, as well as businesses of any size, are using social media. But, we really don’t know how many??????
  • We DO know consumers are using social networks in massive numbers.
  • Facebook is the largest of existing social networks, which makes it very appealing. Also, status updates are automatically shared with your network, which means their network can also see your updates. Think about it. If you have 200 friends on Facebook and they each have 200 friends, your status update can reach 40,000 people - although the actual reach is actually much smaller since there is likely overlap between networks of friends. But, that’s still a mammoth number of impressions. When you consider your status update can spread in this viral fashion throughout the social graph, you can see how this medium can be so effective. There are 2 types of Facebook pages – profiles, for individuals, and fanpages, for companies. Profile pages reflect the privacy settings imposed by their owners, so much of what’s on them is only visible to friends. This limits the spread of your message to just 1 layer of friends. Fanpages are open, for the most part, but only people who are fans (have selected the LIKE button) can post on the fanpage. There are also groups on Facebook. For more information on the differences between these 3 Facebook options, select this link. http://hausmanmarketresearch.org/social-marketing/facebook-business-marketing-fan-page-vs-profile-vs-groups/A variety of options exist when setting up your Fanpage, although changes in Facebook require constant vigilance to ensure your page is still working well. Also, FBML, used to create graphical designs on fanpages is being phased out by Facebook, which will make creating these fanpages much more expensive.Among the drawbacks of using Facebook as a social media channel is the difficulty encountered in building connections. As a profile page, you are limited to inviting known individuals to link with you and may loose your Facebook page for violations of these rules. Fanpages are not able to make connections at all, and are reliant on Facebook users to LIKE them – although you can invite your friends to LIKE your fanpage.Another problem with using Facebook for either individuals or companies is that your status updates may NOT appear in your friend’s newsfeed. Engagement determines who sees your newsfeed.
  • Twitter is the second most popular social network and represents some major advantages as a channel for social media. First, it’s the fastest growing of all the social networks and will likely overtake Facebook in a few years, if it continues its growth.Twitter is a microblogging site, where members Tweet in 140 character bites. Twitter is also increasing its corporate presence with promoted Tweets and Follows. Likely increased commercialization of Twitter is coming.Its very easy to build connections – followers – in Twitter, as there are no restrictions on who you can follow and its considered a Twitter norm to follow back those who follow you – although this norm is muted among prominent Tweeters and is slowly declining even among everyday Tweeters. Its relatively easy to build large numbers of followers who see all your Tweets. Followers can also choose to pass along your Tweets through ReTweeting, although its much less common and not automatic as is message transmission in Facebook. Twitter is also searchable through the use of hashtags.Twitter has a number of drawback, as well. First, the 140 character limit (including punctuation and spaces) doesn’t give you much room to say something to entice readers to action. The use of standardized shortcuts, like LOL, RT, etc help extend the amount one can communicate, but they frequently contain shortcuts that mystify many users. This is especially true in groups where they’ve developed their own, unique shortcuts. Link shorteners are a must on Twitter.Lack of temporal permanence is a bigger problem on Twitter. If you have more than a few Tweeters you’re following, everything not hashtagged gets lost in the chaos of Tweets coming one after another. There are just so many Tweets that older Tweets (often only posted a few minutes ago) are replaced by new Tweets.The use of automation in Twitter has vastly increased this problem. Applications can easily send massive numbers of Tweets automatically – for instance, sending a pre-selected message hundreds of times or sending everything from an RSS feed instantly. While Twitter will stop obvious attempts to Tweet the same thing over again, any small variation in the message will circumvent this protection. Automation apps have built-in randomizers to create these subtle variations. Users can also automate refollowing followers, autoresponding to new followers with a standard message (that can even be personalized), and other Twitter actions.
  • Location-based applications such as Foursquare, Facebook Places, and Google Latitude are ways for friends to keep track of each other in real-time through ckeck-ins. Location-based applications are also extremely useful for retailers and other local businesses as it let’s them know who is visiting their business. They can offer incentives, such as coupons, to encourage visitors to share their experiences with their friends – since these applications also allow for rating the business. Probably the most exciting use of location-based applications is by using them in combination with other social network marketing efforts, which we will talk about later.Some problems with location-based applications is the possibility of counterfeit check-in cause by drive-bys and because of imprecision of GPS signals. Newer location-based applications that rely on more precise radio transmissions from your smartphone are emerging to handle these issues.All social media marketing tactic rely on successful mastery of your traditional marketing, especially high quality products and customer service, Location-based applications, as well as all social networks, just provide a way for customers to spread negative word of mouth for companies who think good advertising can overcome sloppy delivery in other areas of marketing.

Social Media Marketing: Nigerian Business Presentation Social Media Marketing: Nigerian Business Presentation Presentation Transcript

  • Social Media: Technology Enabling Small Business Success
    Angela Hausman, PhD
    Howard University and MarketingThatWorks.TV
    202-806-1676
  • What is Social Networking ?
    COMMUNITY
    Real community is dying (Putnam)
    Increased isolation
    More time in electronic worlds
    Busier
    Uses a variety of social platforms
    Traditionally text based
    Pictures
    Video
    Allows fluidity in self-presentation
  • What is Social Media?
    Relies on customer sharing in social platforms to spread commercial message to social graph
    Individuals share messages because it builds celebrity and status
    A social graph changes its attitudes, behaviors or shares messages based on social capital
    Influence assessed by Klout and
    PeerIndex
    Social capital -- respect,
    authority, trust, and reciprocity
    Social capital = personal brand
    Similarity between individuals
    in the social graph
  • Small Businesses are Using Social Media
    1/3 of small businesses use social media http://www.readwriteweb.com/biz/2010/10/one-third-small-businesses-use-social-media.php
    61% of small business owners use social media http://www.briansolis.com/2010/05/social-media-in-small-business-is-anything-but-small/
    Citibank found 86% of small businesses are NOT using social media http://news.cnet.com/8301-1023_3-10374886-93.html
  • Consumers are Using Social Networks
    600+ million profiles on Facebook
    175+ million users on Twitter tweeting
    95 million tweets per day
    50+ million users on LinkedIn
    3+ million users on Foursquare
  • Social Platforms - Facebook
    Anatomy of a Facebook page - profile page
    Benefits
    Large number of users
    Easy sharing from 1 consumer to another
    Commercial operations
    Shopping - 1800 Flowers
    Relationship building – Dell; Oreos
    Fan generated fanpages - Coke
    Contests – Levis
    Causes - The Body Shop
    Groups
    Drawbacks
    Difficult to build connections
    May not appear on newsfeed
  • Social Platforms – Twitter -coke
    Benefits
    Growing faster of all platforms
    Corporate presence
    Easy to build connections
    Searchable via #
    Drawbacks
    140 character limit
    Lack of temporal permanence
    Vast number of Tweets
  • Social Platforms - LinkedIn
    Professional focus
    New! Company profiles
    Groups
    Creating Connections
    Sharing messages
    Attempts to increase engagement
  • Social Platforms – Foursquare and other location-based apps - Panera
    Benefits
    Fun and challenging for consumers
    Gives consumers a voice
    Helps consumers relate to friends
    Helps companies build relationships
    Helps local companies spread the word
    Drawbacks
    Counterfeit check-ins
    Spreads negative sentiments
  • On Site Tools with Location-Based Marketing
    Shopkick
    Radio wave reader
    Detect patterns of shopping
    Incentivize shoppers
    QR Codes
    Smartphone readers
    Incentivize shoppers
    Temporal optimization
  • Mobile
    Increased mobile access
    Smartphones project over 1 Billion by 2013
    Tablets – over 40 options by end of 2011
    Auto access
    Wireless laptops/ mobile hot spots
    Laptops with modems
    Opportunities
    Changes in websites
  • Blogging - Hausman Marketing Letter
    Weblogs increasingly prevalent
    Originally journalists
    More CEOs, CMOs, etc.
    Average consumers
    Prominent feature of websites
    Advantages over static websites
    SEO
    Timeliness
    Interactive
  • How Blogging Works
    Set up website in Wordpress or Joomlar
    Write content or have guest bloggers
    Share content and encourage comments
    Organize content into categories and pages
    80/20 rule – 80 % of content should be supportive of others and 20 % self-promotion
    Continually provide additional comment
  • Facebook and Twitter dominate
    Social Media in small businesses
    While small businesses use Facebook
    more, their customers are
    Tweeting about them.
    Consumers are more likely to share
    a Facebook message than a Tweet.
    Most small businesses owners share
    information frequently.
    Fan pages get more interaction than
    personal profile pages.
  • Measuring – Return on Investment
    Mostly uncharted territory
    What to measure
    Influence
    Klout, PeerInfluence, Technorati
    Followers, Friends, Fans, Visitors …
    Conversion
    Online, offline, when, …
    Determining cause and effect
    Tools
    Radian6
    Google Analytics http://ow.ly/4dymm
    Others
  • Measures of Success
  • Conversion
  • Monitor - Listening
    Reputation management
    Uses Radian6 or other tools, as does measuring
    Code for sentiment or add to spreadsheet
    Transmit relevant to decision makers and customer service
    Track changes over time
    Market Research
    Influencers
    Unmet needs
    Level of satisfaction
  • Administration Support
    Knowing WHAT to Listen To
    Information Overload
    Privacy Barriers
    External requirements
    Benchmarking
    Market Research
    Language and cultural meaning
    Integration into strategy and customer support function
    Listening Problems
  • SEO – Search Engine Optimization
    Getting found
    1st page, 1st position
    Algorithms
    Title, tags, meta-description, keywords
    Unique, valuable content
    Engagement - SMM
    Pageviews
    Getting Visitors
    Headlines
    Snippets
    Visuals
  • How to Put it All Together
    Linking social networks
    Coordinating online and offline activities
    Sharing across multiple platforms
    Unique requirements, limitations, and opportunities of each
    Timing
    Consistency
    Planning
    Hootsuite
    Increased difficulty in monitoring and listening
  • Costs of Social Media
    Tangible
    Website
    SEO, Developer
    Organizational
    Time for engagement
    Time for content creation
    Time for listening
    Intangible
    Damage from not listening
    Opportunity costs
    Competitive irrelevance
  • Questions
    Corporate Website: http://MarketingThatWorks.TV
    Blog: http://hausmanmarketresearch.org
    Twitter: @MarketingLetter
    Facebook: http://facebook.com/angelahausman