Social Media Marketing for entrepreneurs


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Seminar by Delfin Vassallo at international Entrepreneurship Conference, Riga, Latvia. April 2010

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  • Photo of two persons secreting dynamic: Ask randomly who knows a good accountant, because now I should prepare my financial statements to request financing Are you sure is he good? Friend of who? I was thinking on my brother in law, but if you say this one is assurance specialist…
  • Scan conversations looking for members in need of advice about your field (set up alerts with key terms, and competitors name + word "sucks") Re-tweet relevant information (not from your competitors pls!)
  • Social Media Marketing for entrepreneurs

    1. 1. Social Media Marketing International Entrepreneurship Conference ‘Baltic Spark’ April 17, 2010 - Riga, Latvia Delfin Vassallo For entrepreneurs
    2. 5. How Social Media Marketing works? <ul><li>We are influenced and motivated by each other to do things. We are social beings, sharing our experiences is part of the social interaction </li></ul>*Razorfish TM http://www. razorfish .com/ Photo by Ricardo Carre ón http://www. flickr .com/photos/carreon/4497349050/ <ul><li>Influence through conversation </li></ul><ul><li>Low consideration vs. high consideration purchases </li></ul><ul><li>Social Influence Marketing (SIM*) </li></ul>
    3. 6. The Rules of the Game <ul><li>Be authentic </li></ul><ul><ul><li>Talk with your own voice </li></ul></ul><ul><ul><li>Never post / publish anonymously, your consumers need to know who you are to trust you </li></ul></ul><ul><ul><li>Respond to everything, always </li></ul></ul><ul><ul><li>Be human </li></ul></ul><ul><li>You get because you give </li></ul><ul><ul><li>Give relevant content </li></ul></ul><ul><li>All participants have same status </li></ul><ul><ul><li>Everyone is special and unique (at least it’s what we like to think about ourselves) </li></ul></ul><ul><li>Let go of your campaign </li></ul><ul><ul><li>You are one more participant </li></ul></ul><ul><ul><li>Always control of your own response </li></ul></ul>Photo by Skene http://www. flickr .com/photos/skene/3743369194/in/set-72157616956939008/
    4. 7. How do I choose which Social Media use? And that they’d be suitable for me
    5. 8. Choosing your Social Media <ul><li>One is not enough </li></ul><ul><ul><li>You won’t find all your potential customers in one single platform </li></ul></ul><ul><ul><li>It’s more likely your customers are participating in more than one platform </li></ul></ul><ul><li>Invest time, effort and money </li></ul><ul><li>Research according target country / area </li></ul><ul><li>Social Influence Marketing requires patience: </li></ul><ul><ul><li>To learn </li></ul></ul><ul><ul><li>To build relationships </li></ul></ul><ul><ul><li>To test </li></ul></ul><ul><ul><li>To optimize </li></ul></ul>
    6. 9. <ul><li>Understand your customers </li></ul><ul><li>How long they use the platform? </li></ul><ul><li>What do they specifically do on it? </li></ul><ul><li>How they interact with others? </li></ul><ul><li>Find out the “place of influence” </li></ul><ul><ul><li>Where they make they purchasing decisions? </li></ul></ul><ul><ul><li>Where they get influenced by others? </li></ul></ul><ul><ul><li>Where they observe how their friends are buying / discussing purchases </li></ul></ul>Steps to choose your SM Social technographics tools: www. forrester . com/Groundswell/profile_tool .html www. quantcast .com http://www. alexa . com/topsites/
    7. 10. Steps to choose your SM <ul><li>Research the platform </li></ul><ul><li>Social dynamics </li></ul><ul><li>Marketing possibilities: </li></ul><ul><ul><li>Display ads </li></ul></ul><ul><ul><li>Social ads </li></ul></ul><ul><ul><li>Sponsorships </li></ul></ul><ul><ul><li>Influencer marketing </li></ul></ul><ul><ul><li>Applications & widgets </li></ul></ul><ul><ul><li>Brand pages </li></ul></ul><ul><ul><li>Other </li></ul></ul>Photo by Benny Bnut http://www. flickr .com/photos/bvcphoto/4044750742/
    8. 11. Steps to choose your SM <ul><li>Evaluate and think your strategy </li></ul><ul><li>Planning! </li></ul><ul><li>Realize which platforms have meaningful social engagement and will benefit you </li></ul><ul><li>Look the big picture </li></ul><ul><ul><li>How your marketing efforts work together? </li></ul></ul><ul><ul><li>How your different properties link each other? </li></ul></ul><ul><ul><li>How are they coordinated with offline activities? </li></ul></ul>
    9. 12. Top Baltics’ websites Source: Alexa ranking for Apr 2010 http://www. alexa . com/topsites/countries Lithuania Estonia Latvia
    10. 13. <ul><li>Created by Drew McLellan http://www. drewsmarketingminute .com/2010/03/social-media-cheat-sheet.html </li></ul>
    11. 15. Niche platforms <ul><li>Targeted to specific market segment </li></ul><ul><ul><li>MySpace > Music </li></ul></ul><ul><ul><li>Linked In > Professionals / businessmen </li></ul></ul><ul><ul><li> > Graphic / plastic artists </li></ul></ul><ul><ul><li>Vimeo > Art videos </li></ul></ul><ul><ul><li>Sermo > Physicians / medical world </li></ul></ul><ul><ul><li> > Young travellers </li></ul></ul><ul><ul><li> > Expats in Finland </li></ul></ul><ul><li>Other basics </li></ul><ul><ul><li>Ning > Create your own social platform </li></ul></ul><ul><ul><li>Blogger networks </li></ul></ul><ul><ul><li>Wikipedia </li></ul></ul><ul><ul><li>Flickr </li></ul></ul><ul><ul><li>Delicious </li></ul></ul><ul><ul><li>Digg </li></ul></ul>Photo by Ricardo Carre ón
    12. 16. Establishing your online properties The new Real Estate!
    13. 17. Building your properties to generate leads <ul><li>Promote your SM channels on company website & email signatures </li></ul><ul><li>&quot;Become a fan&quot; NO! > “Join the conversation on -your industry name - hot topics” </li></ul><ul><li>Employees email signature include links to blog, Twitter account & groups besides their name, phone, address... </li></ul><ul><li>Unique blog page visitors </li></ul><ul><li>Twitter followers </li></ul><ul><li>LinkedIn group members </li></ul><ul><li>Traffic generated by SEO </li></ul><ul><li>Leads by source: inbound web, seminars, tradeshows </li></ul><ul><li>Compare metrics with your increase in leads & sales </li></ul><ul><li>Initiate on ‘sentiment’ measurement </li></ul><ul><li>Open forum to discuss issues related to your field </li></ul><ul><li>Team members should take initiative to start conversations </li></ul><ul><li>Don't talk about your company or products </li></ul><ul><li>Review/Suggest industry events </li></ul><ul><li>Feedback on new approaches or consumer needs </li></ul><ul><li>Join other groups and participate </li></ul><ul><li>Monitor the web, blogosphere, forums & communities to find relevant conversations </li></ul><ul><li>Join the conversation, comment on blogs & point readers to same topic content at your blog </li></ul><ul><li>Create blog posts that potentially will go viral </li></ul><ul><li>Post short, post frequent and post relevant! </li></ul><ul><li>Notices about new blog posts and events </li></ul><ul><li>Links to industry news </li></ul><ul><li>Fun entries, trivia questions, informal researches </li></ul><ul><li>Scan conversations looking for twitterers in need of advice about your field </li></ul><ul><li>Re-tweet relevant information </li></ul>Create a blog to start and join conversations Establish a Twitter account Create Linked In & Facebook groups Cross link your properties Measure SM accounts & website traffic
    14. 20. Measuring results <ul><li>SIM metrics are different from Direct Response Marketing metrics </li></ul><ul><li>Data gathering is relatively easy, use same tools and parameters over time to get consistent results </li></ul><ul><li>Match SIM metrics with your other marketing metrics to see how they correlate </li></ul><ul><li>Biggest challenge: correlating data with your business objectives </li></ul><ul><li>Define your Key Performance Indicators (KPI’s) </li></ul><ul><li>Measurement areas*: </li></ul><ul><ul><li>Traffic </li></ul></ul><ul><ul><li>Demographics </li></ul></ul><ul><ul><li>Sociographics </li></ul></ul><ul><ul><li>Social actions </li></ul></ul>*Sometrics: Top tools for Social Media monitoring: Measuring Social Media:
    15. 21. Measuring ‘Sentiment’ <ul><li>What your customers feel about your brand? </li></ul><ul><li>Quantity of comments matter </li></ul><ul><li>Quality matters much more </li></ul>SIM Score* = Sentiment for the brand + Conversation share *Razorfish TM http://www. razorfish .com/ Download Fluent from Shiv Singh blog http://www. goingsocialnow .com/ Photo by Ricardo Carre ón http://www. flickr .com/photos/carreon/2501134102/in/set-72157594578350003/
    16. 22. Last word on Social Media measurement <ul><li>The important thing is, regardless of how you choose to measure engagement, to have a clear metric in mind before you begin. </li></ul><ul><li>Without a benchmark it’s impossible to determine success. </li></ul><ul><li>In order Social Media measurement pays off, it requires considerable commitment, besides time and staff investment. </li></ul>Photo by Ricardo Carre ón http://www. flickr .com/photos/carreon/430882134/in/set-72157600049454148/
    17. 23. Basic resources & insights Social Media Actuality Mashable Social Media Today Chris Brogan Read Write Web Books Let’s Talk, Social Media for Small Business: http://www. ducttapemarketing .com/blog/2008/11/13/free-social-media-for-business-ebook/ Social Media Marketing for Dummies: http://www. amazon .com/gp/product/0470289341? ie=UTF8 &tag=sommeindia-20& linkCode=as2 &camp=1789&creative=9325& creativeASIN=0470289341 Social Media monitoring tools Social Mention: http://www. socialmention .com/ SWIX: http://www. swixhq .com/ Xinu: http: //xinureturns .com/ Social Networking Media ROI calculator: http://www. dragonsearchmarketing .com/online-marketing-strategy/social-media-marketing/social-media-roi-calculator Radian 6: Hub Spot: http://www. hubspot .com/ Facebook Inside Facebook
    18. 24. Keep in touch <ul><li>Delfin Vassallo </li></ul><ul><li>Digital Villager </li></ul><ul><li>Helsinki, Finland </li></ul><ul><li>@DJVassallo </li></ul><ul><li>[email_address] </li></ul><ul><li> </li></ul>