Hot or Hype? What Business Owners Need to Know About Social Media (2010)

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Read any publication - online or off - and you're sure to find at least one article on social media. 'Experts' abound, and advice flows from every direction. However, many business owners are still struggling with the 'why' of social media as it relates to their firms. Join Adrienne Cregar Jandler for a look at Social Media and what you, as business owners, need to know as you determine how you will use social media.

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  • When we think about social media and have to decide if it is of value, we should approach it by first considering the people who impact your business.
  • Hot or Hype? What Business Owners Need to Know About Social Media (2010)

    1. 1. Hot or Hype?What Business Owners Need to Know About Social Media <br />Presented by Adrienne CregarJandler<br />President, Atlantic Webworks<br />
    2. 2. What we’ll talk about…<br />Should we use social media?<br />Is there business value? Rethinking the definition<br />Two critical first steps: <br />The Social Media Plan & The Social Media Policy<br />Do It Yourself or Outsource it?<br />Choosing an implementation plan that works<br /> for YOUR business<br />
    3. 3. Why should I use social media?<br />Should we use social media?<br />Can I measure my results, to determine if our efforts are worthwhile?<br />Will we be able to control what is said about us?<br />Do we have something to say? Or content to share?<br />Is it all just a bunch of hype?<br />Does it offer value for MY type of company?<br />Let’s look at this from the perspective of impact on our stakeholders.<br />
    4. 4. Why should I use social media?<br />Who are the people that impact your business?<br /><ul><li> prospective clients
    5. 5. strategic partners (who refer people to you)
    6. 6. your competitors
    7. 7. your employees and prospective employees
    8. 8. your vendors and suppliers
    9. 9. your professional associations (Builders Association, Chamber, etc.)
    10. 10. the media (newspapers, TV, radio, etc.)</li></ul>How do you currently reach these people? <br />What does it cost you in time? Advertising? Sponsorships?<br />How do you stay in touch with them, and how often? <br />
    11. 11. Why should I use social media?<br />A few statistics to frame our thoughts about our ‘stakeholders’ and social media…<br /><ul><li> Only 14% of consumers now trust advertisements. </li></ul> 78% trust peer recommendations.<br /><ul><li> By the end of 2010, Generation Y* will outnumber Baby Boomers…</li></ul> 96% of them have joined a social network<br /><ul><li> The fastest growing segment on Facebook is 55-65 year-old females
    12. 12. Generation Y* and Z* consider email passe…This year Boston College</li></ul> stopped distributing email addresses to incoming freshmen!<br /><ul><li> 25% of Americans in the past month said they watched at least one</li></ul> short video…on their phone<br /><ul><li> 1 out of 8 couples married in the U. S. last year met via social networks
    13. 13. The % of companies using LinkedIn as a primary tool to find employees? </li></ul> 80%<br />*Generation Y is the generation of people born in the 1980s and 1990s, in the age range of 19 – 29 (i.e. first time home buyers)<br /> Generation Z is the generation of people born in the mid-1990’s to late 2000’s <br />Source: Expeditusmedia<br />
    14. 14. Why should I use social media?<br />One last statistic about the growth of social media…<br />Comparing social media to other media according to how long it took<br />To reach 50 million users:<br /><ul><li> Radio – 38 years
    15. 15. Television – 13 Years
    16. 16. The Internet – 4 years
    17. 17. iPods – 3 years</li></ul>Facebook added 100 million users in less than 9 months.<br />
    18. 18. Think beyond ‘what are you doing right now?’…Examples of Social Media uses for business…<br />Competitive Research<br />Recruiting<br />Customer Feedback<br />Grow Client Relationships<br />Consumer Research<br />Crowdsourcing<br />Virtual Advisory Board<br />Feedback mechanism to adjust strategies<br />Prospecting<br />Project Collaboration<br />Cost Savings/Meetings, Travel<br />Filesharing<br />Increase your Reach and Exposure online<br />Positioning yourself as an Expert/Industry Leader<br />Word-of-mouth customer referrals<br />Build Brand Loyalty<br />
    19. 19. How does social media fit in with your other marketing efforts?<br />
    20. 20. Why should I use social media?<br />Let’s think of social media from the perspective of <br />what it has to offer…<br />Social Media offers you an exponential opportunity to impact<br />two key components of your ability to win new business:<br />Exposure & Credibility <br />What is the value of being represented where your prospective clients gather?<br />Social media offers you the opportunity to be represented in <br />multiple places at the same time<br />Let’s first take a look at exposure…<br />
    21. 21. Why should I use social media?<br />When someone is searching for the<br />type of services you offer, <br />where do they look?<br />Inevitably, they<br />look online.<br />Why?<br /><ul><li> It’s convenient & can be done on their schedule
    22. 22. They can research without sales pitches or obligation
    23. 23. It saves them time</li></li></ul><li>Articles<br />Blog posts<br />Why should I use social media?<br />If your name, or your company <br />name were searched for, <br />what representation would <br />you have in the search engines?<br />Your Website<br />Links from Associations’ <br />Websites<br />Slideshare Presentations<br />Links from Assn.<br />Websites<br />Twitter<br />4Square<br />Living Social <br />CINCH<br />Podcasts<br />Would this <br />make more impact?<br />
    24. 24. Why should I use social media?<br />How can social media help you build your credibility?<br />(as a company AND as a professional?) <br /><ul><li> Showcase recommendations from others who have used your services
    25. 25. Promote you as an expert in the field and your company as</li></ul> a leader in the industry (many ways to do this, from articles, blog posts, <br /> YouTube videos, etc.)<br /><ul><li> Showcase your work (Flickr, YouTube, Slideshare, etc.)
    26. 26. List your professional awards, associations and involvement in industry</li></ul> groups and events<br /><ul><li> Spotlight employees’ areas of expertise, etc.
    27. 27. Simply being there – showing that you are ‘in touch’ with your customers</li></ul> and other stakeholders who are online<br />Social media gives you a platform to speak directly with<br />your stakeholders. What do you have to offer them?<br />
    28. 28. What channels should I use?<br />Unlike traditional advertising,<br />Social Media centers around<br /> Relationships<br />This is an important distinction!<br />Think of social media as Conversation powered by technology.<br />
    29. 29. What channels should I use?<br />You’ll want to select your channels based <br />on how much time you can <br />realistically dedicate to participation.<br />Better to be active in a few places, than inactive in many!<br />
    30. 30. What channels should I use?<br />Time commitment & <br />Expected level of participation<br />(frequency of posts)<br />Flickr, YouTube, <br />Slideshare, Articlesbase<br />
    31. 31. What channels should I use?<br />As business owners, you have two entities <br />that can be represented in the social networks:<br />yourself, and your company<br />
    32. 32. What channels should I use?<br />Your participation determines the value you get from networking<br />Think about the professional forums where you network…<br />What are the characteristics of the most popular professionals you meet?<br />
    33. 33. What it is (and what it is not):<br />So…are you ready now?<br />
    34. 34. Two critical first steps: <br />The Social Media Policy & The Social Media Plan<br />Social Media Policy<br />Details how employees should<br />(or should not) use social media<br />During company time<br />Also discusses use of social media <br />outside of company time as it relates<br />To impact on the firm<br />Social Media Plan<br />Delineation of how you will<br />use social media – your road <br />Map.<br />
    35. 35. Elements of a Social Media Plan: 5 W’s <br />Start by focusing on the ‘who’….<br />Arrive at ‘why’, then <br />move to ‘what’, ‘when’,<br />‘where’<br />Who are your stakeholders? Where are they active online?<br />What are their social behaviors online?<br />What social information or people do your customers rely on?<br />What is your customers’ social influence? Who trusts them?<br />How do your customers use social technologies in the context of your products?<br /><ul><li> What channels
    36. 36. Who will participate
    37. 37. How & how often
    38. 38. How you will measure it
    39. 39. Editorial calendar</li></li></ul><li>There are 3 elements which affect conversation:<br />How relevant<br />& connected<br />Is your brand?<br />How easy is it for people to find your brand online?<br />How trustworthy is your brand in delivering on your value proposition?<br />
    40. 40. Conversions: How Will You Measure Them?<br />Define measures for achieving your goals<br />Sales<br />Leads<br />Views<br />Shared content<br />Downloads<br />Sign-Ups<br />Factors to consider:<br /><ul><li>Tell, don’t sell
    41. 41. Conversions don’t always happen immediately
    42. 42. Previous experience affects future likelihood
    43. 43. People don’t navigate in a linear fashion; don’t herd them</li></li></ul><li>Elements of a Social Media Policy: <br />Communicate the company’s purpose for using social media<br />Emphasize the importance of taking responsibility for what you write, <br />and using good judgement<br />Detail what ‘being authentic’ means with regard to posts – using your <br />Name, company name, etc.<br />Respecting copyrights and fair use<br />Protection of confidential and proprietary information<br />Detail which job titles/positions can use social media during company<br />time, and in what circumstances/toward what purpose<br />
    44. 44. (FREE) Online Social Media<br />Policy Generator: <br />http://socialmedia.policytool.net/<br />
    45. 45. Do It Yourself or Outsource it?<br />Choosing an implementation plan that works<br /> for YOUR business<br />Training Coaching Execution<br />How much time and money do you want to spend?<br />
    46. 46. Questions?<br />
    47. 47. Social Media Changes Everything.<br />Are you ready?<br />27<br />Building Business with Social Media - - - ©2008, Atlantic Webworks. All rights reserved. <br />

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