Social Media Marketing for entrepreneurs

Social Media Marketing International Entrepreneurship Conference ‘Baltic Spark’ April 17, 2010 - Riga, Latvia Delfin Vassallo For entrepreneurs

How Social Media Marketing works?
We are influenced and motivated by each other to do things. We are social beings, sharing our experiences is part of the social interaction
*Razorfish TM http://www. razorfish .com/ Photo by Ricardo Carre ón http://www. flickr .com/photos/carreon/4497349050/
Influence through conversation
Low consideration vs. high consideration purchases
Social Influence Marketing (SIM*)

The Rules of the Game
Be authentic
Talk with your own voice
Never post / publish anonymously, your consumers need to know who you are to trust you
Respond to everything, always
Be human
You get because you give
Give relevant content
All participants have same status
Everyone is special and unique (at least it’s what we like to think about ourselves)
Let go of your campaign
You are one more participant
Always control of your own response
Photo by Skene http://www. flickr .com/photos/skene/3743369194/in/set-72157616956939008/

How do I choose which Social Media use? And that they’d be suitable for me

Choosing your Social Media
One is not enough
You won’t find all your potential customers in one single platform
It’s more likely your customers are participating in more than one platform
Invest time, effort and money
Research according target country / area
Social Influence Marketing requires patience:
To learn
To build relationships
To test
To optimize

Understand your customers
How long they use the platform?
What do they specifically do on it?
How they interact with others?
Find out the “place of influence”
Where they make they purchasing decisions?
Where they get influenced by others?
Where they observe how their friends are buying / discussing purchases
Steps to choose your SM Social technographics tools: www. forrester . com/Groundswell/profile_tool .html www. quantcast .com http://www. alexa . com/topsites/

Steps to choose your SM
Research the platform
Social dynamics
Marketing possibilities:
Display ads
Social ads
Sponsorships
Influencer marketing
Applications & widgets
Brand pages
Other
Photo by Benny Bnut http://www. flickr .com/photos/bvcphoto/4044750742/

Steps to choose your SM
Evaluate and think your strategy
Planning!
Realize which platforms have meaningful social engagement and will benefit you
Look the big picture
How your marketing efforts work together?
How your different properties link each other?
How are they coordinated with offline activities?

Top Baltics’ websites Source: Alexa ranking for Apr 2010 http://www. alexa . com/topsites/countries Google.lt Google.ee Draugiem.lv Plius.lt Rate.ee Facebook.com Linkomanija.net Live.com Apollo.lv Wikipedia.org Wikipedia.org Wikipedia.org Draugas.lt Hot.ee Tvnet.lv Irytas.lt Orkut.com One.lv Yahoo.com Postimees.ee Ss.lv Delfi.lt Neti.ee Delfi.lv One.lt Delfi.ee Google.com YouTube.com Facebook.com YouTube.com Google.com YouTube.com Inbox.lv Facebook.com Google.com Google.lv Lithuania Estonia Latvia

Created by Drew McLellan http://www. drewsmarketingminute .com/2010/03/social-media-cheat-sheet.html

Niche platforms
Targeted to specific market segment
MySpace > Music
Linked In > Professionals / businessmen
devianART.com > Graphic / plastic artists
Vimeo > Art videos
Sermo > Physicians / medical world
CouchSurfing.org > Young travellers
FinlandLive.info > Expats in Finland
Other basics
Ning > Create your own social platform
Blogger networks
Wikipedia
Flickr
Delicious
Digg
Photo by Ricardo Carre ón http://www.flickr.com/photos/carreon/2925070150/in/set-72157594578350003/

Establishing your online properties The new Real Estate!

Building your properties to generate leads
Promote your SM channels on company website & email signatures
"Become a fan" NO! > “Join the conversation on -your industry name - hot topics”
Employees email signature include links to blog, Twitter account & groups besides their name, phone, address...
Unique blog page visitors
Twitter followers
LinkedIn group members
Traffic generated by SEO
Leads by source: inbound web, seminars, tradeshows
Compare metrics with your increase in leads & sales
Initiate on ‘sentiment’ measurement
Open forum to discuss issues related to your field
Team members should take initiative to start conversations
Don't talk about your company or products
Review/Suggest industry events
Feedback on new approaches or consumer needs
Join other groups and participate
Monitor the web, blogosphere, forums & communities to find relevant conversations
Join the conversation, comment on blogs & point readers to same topic content at your blog
Create blog posts that potentially will go viral
Post short, post frequent and post relevant!
Notices about new blog posts and events
Links to industry news
Fun entries, trivia questions, informal researches
Scan conversations looking for twitterers in need of advice about your field
Re-tweet relevant information
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

Measuring results
SIM metrics are different from Direct Response Marketing metrics
Data gathering is relatively easy, use same tools and parameters over time to get consistent results
Match SIM metrics with your other marketing metrics to see how they correlate
Biggest challenge: correlating data with your business objectives
Define your Key Performance Indicators (KPI’s)
Measurement areas*:
Traffic
Demographics
Sociographics
Social actions
*Sometrics: http://www.sometrics.com/ Top tools for Social Media monitoring: http://socialmediatoday.com/SMC/155299 Measuring Social Media: http://www.djvassallo.com/2009/11/measuring-social-media.html

Measuring ‘Sentiment’
What your customers feel about your brand?
Quantity of comments matter
Quality matters much more
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/

Last word on Social Media measurement
The important thing is, regardless of how you choose to measure engagement, to have a clear metric in mind before you begin.
Without a benchmark it’s impossible to determine success.
In order Social Media measurement pays off, it requires considerable commitment, besides time and staff investment.
Photo by Ricardo Carre ón http://www. flickr .com/photos/carreon/430882134/in/set-72157600049454148/

Basic resources & insights Social Media Actuality Mashable http://mashable.com/ Social Media Today http://www.insidefacebook.com/ Chris Brogan www.chrisbrogan.com Read Write Web http://www.readwriteweb.com/ 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: http://www.radian6.com/ Hub Spot: http://www. hubspot .com/ Facebook Inside Facebook http://www.insidefacebook.com/

Keep in touch
Delfin Vassallo
Digital Villager
Helsinki, Finland
@DJVassallo
[email_address]
www.djvassallo.com

http://balticspark.org	32
http://www.djvassallo.com	16
http://lv2010.balticspark.org	8
http://www.slideshare.net	7
http://www.lmodules.com	1

Social Media Marketing for entrepreneurs

by Delfin Vassallo on Apr 15, 2010

Accessibility

Categories

Tags

Upload Details

Usage Rights

5 Embeds 64

Statistics

Social Media Marketing for entrepreneurs — Presentation Transcript