Increasing engagement with customers using social media

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This presentation describes how companies can use social media to increase engagement with their customers.

This presentation was done by Jeff Mello, Founder http://evolutionofcommunication.com for the First Citizens Bank Small Business Seminar in Atlanta on February 23, 2011.

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Increasing engagement with customers using social media

  1. 1. Increasing Engagement with Customers using Social Media <br />
  2. 2. Who am I?<br />Founder of Evolution of Communication, an interactive agency based in Atlanta<br />Co-Founder of BuzzCal.com, an online sport’s calendar<br />
  3. 3. Exposure I received in USA Today<br />
  4. 4. Enough about me…onto why we are here!<br />
  5. 5. Goal: <br />To teach you how social media can be used to increase engagement with your customers.<br />
  6. 6. Why Social Media: <br />Opens up direct communication channels with existing and potential customers!<br />
  7. 7. Caution: <br />Social media is not a marketing silver bullet. It takes strategy, time, and effort to reap the benefits.<br />
  8. 8. Quick Social Media Stats: <br />30 billion pieces of content (e.g., links, photos, notes) are shared on Facebook each month <br />(Source: Royal Pingdom)<br />
  9. 9. Quick Social Media Stats: <br />25 billion tweets were sent on Twitter in 2010<br />(Source: Royal Pingdom)<br />
  10. 10. Quick Social Media Stats: <br />200 million views of YouTube via mobile per day<br />(Source: Google)<br />
  11. 11. Quick Social Media Stats: <br />65% of U.S. adults use social media and say they have received a positive benefit as a result <br />(Source: Harris Interactive)<br />
  12. 12. 78% of consumers trust peer recommendations…<br />Only 14% trust advertisements!<br />(Source: Erik Qualman-http://www.youtube.com/watch?v=lFZ0z5Fm-Ng)<br />
  13. 13. How is social media changing the way companies connect with consumers? <br />
  14. 14. Old Ways of Communication<br />Traditional Media acts as the middleman providing access to company’s target consumers for a price<br />Wants to promote goods or services to their target consumers<br />Company’s Target Consumers<br />Pays money to Traditional Media in order to gain access to their target consumers <br />Pushes out an advertising message to the company’s target consumers in hopes of driving sales <br />
  15. 15. New Ways of Communication<br />Traditional Media gets sidestepped in the new world of communication. <br />Wants to promote goods or services to their target consumers<br />Company’s Target Consumers<br />Through social media the company is now empowered to enter into direct conversations with their target audience offering contests, deals, soliciting feedback, product reviews, building brand loyalty, etc. <br />
  16. 16. Increasing engagement with your customers <br />
  17. 17. Identify Your Customers<br />Remember the Pareto Principle better known as the 80/20 rule as applied to business…80% of your company revenue will come from 20% of your customers! We need to identify your 20%! <br />
  18. 18. Identify Your Customers<br /><ul><li> What does your best customer look like?
  19. 19. Male/Female?
  20. 20. Age
  21. 21. Married
  22. 22. Do they have children?
  23. 23. Income level?
  24. 24. Favorite Leisurely activities?
  25. 25. Where do they live?
  26. 26. Anything else about their lifestyle?
  27. 27. How do they like receiving information from you?
  28. 28. What social media channels do they use? </li></li></ul><li>Create your social media strategy asking these questions:<br /><ul><li>Why do we want to engage in social media?
  29. 29. What resources am I willing to invest in my social media efforts?
  30. 30. What are the best channels to target my consumers?
  31. 31. What metrics will we put in place to monitor our progress and determine success?
  32. 32. Is one person or a team going to be in charge of my social media efforts?
  33. 33. How will my company’s image be portrayed in social media?
  34. 34. How will we handle both positive and negative messages about our company?
  35. 35. How will we get our offline customers interacting with us through our social media channels</li></li></ul><li>Helpful data when setting up your metrics:<br /><ul><li>Sales figures from the last year
  36. 36. Website/Blog Traffic information
  37. 37. Customer acquisition models (Sales Funnel)
  38. 38. Conversion ratios
  39. 39. Monthly expense for each department
  40. 40. Monetary value placed on a new customer
  41. 41. Monetary value placed on an existing customer
  42. 42. The Traditional Media metrics currently being used
  43. 43. Consumer sentiment</li></li></ul><li>What is your engagement value?<br />Social Media does an incredible job allowing your company to stay engaged with existing customers but what is the value of that engagement? <br />
  44. 44. What is your engagement value?<br />Engagement Value- The value derived from utilizing social media to engage with your company’s existing customers and prevent them from switching to a competitor.<br />Example: <br /><ul><li> Your customer spends on average $1,200 per year. (Customer’s Monthly Value=$100)
  45. 45. Through your social media efforts you successfully handle 50 customer support issues in one month.
  46. 46. In theory you have saved $5,000 in business by engaging with your customers and solving their issues. (Engagement Value) </li></ul>(Source: Harris Interactive)<br />
  47. 47. Do not fall into the trap of believing your company needs to use every social media channel that exists!<br />
  48. 48. Examples of the most popular social media channels and how you can use them to engage with your customers<br />
  49. 49. Blogs:<br /><ul><li> One of the most powerful tools of your engagement platform (website)
  50. 50. Place for viewers to get to know you and your company
  51. 51. Creates the human touch
  52. 52. Allows your company to engage consumers
  53. 53. Creates fresh content which search engines love.
  54. 54. Can drive your company’s search engine rankings
  55. 55. People do business with people…especially ones they trust
  56. 56. You can become a resource in your Industry</li></li></ul><li>
  57. 57. Facebook:<br /><ul><li> Hosts user-generated pictures, videos, status updates, and games
  58. 58. Has 500+ Million active users
  59. 59. Allows users to create a network of friends and companies they “Like”
  60. 60. Once a user “Likes” you then they will receive your status updates in their newsfeed
  61. 61. Fastest growing demographic…55-65 year olds
  62. 62. Facebook Places allows users to “check-in” to your business like Foursquare</li></li></ul><li>
  63. 63. Twitter:<br /><ul><li> Allows users to send and read short messages called “tweets” from other users
  64. 64. Messages can only be a maximum of 140 characters in length
  65. 65. Users freely share their opinions about anything in real-time
  66. 66. Unlike Facebook, on Twitter you can speak directly to anyone by using the “@” sign in front of their Twitter username
  67. 67. One of the fastest growing social networks
  68. 68. 200 Million users</li></li></ul><li>
  69. 69. LinkedIn:<br /><ul><li> Professional networking site
  70. 70. Users create their profile which is similar to an online resume
  71. 71. Companies can create their profile and link to their employees LinkedIn accounts
  72. 72. Users can provide status updates similar to Facebook, Twitter, and other social networking sites
  73. 73. Can start or join groups with similar professional interests
  74. 74. Great source for recruitment of new employees
  75. 75. An online rolodex of business contacts
  76. 76. 70 Million users</li></li></ul><li>
  77. 77. YouTube:<br /><ul><li> Hosts user-generated and professional videos for sharing
  78. 78. Third most visited online site
  79. 79. Two billion views per day
  80. 80. Twenty-four hours of video uploaded every minute
  81. 81. Users can comment and share videos with friends
  82. 82. In-expensive way to host your company’s videos</li></li></ul><li>
  83. 83. Foursquare:<br /><ul><li> Location based social network
  84. 84. Users “check-in” at locations to earn points and the coveted “mayor” title
  85. 85. 6.5 Million users
  86. 86. Two million check-ins per day
  87. 87. Companies can create special offers for users of Foursquare</li></li></ul><li>
  88. 88. Things to remember about social media<br /><ul><li> It takes time and effort to build your social media presence
  89. 89. Focus on the channels where your customers are so you can maximize your efforts
  90. 90. Be yourself
  91. 91. Do not treat it as another channel for one way advertising messages
  92. 92. It’s about two way conversations
  93. 93. Always ask…what value am I bringing to the people who choose to connect with me via these communication channels? </li></li></ul><li>This presentation is available for download:<br />http://www.slideshare.net/evolutionofcommunication<br />
  94. 94. Jeff Mello<br />Founder, Evolution of Communication<br />p: 404-579-0911<br />email: jeffmello@evolutionofcommunication.com<br />web: http://evolutionofcommunication.com<br />facebook: http://www.facebook.com/evolutionofcommunication<br />twitter: http://twitter.com/EOC_jmello<br />

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