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[what is social media]“social media is not about facebook or flickror twitter or blogs or youtube. It’s abouthaving a strategy for making your companyor organization more like a person and lesslike a machine.” - jason baer, www.convinceandconvert.com
social media is: social media isn’t: a conversation a sales pitch a good way to raise your a guaranteed book deal or internet profile appearance on Oprah a way for potential clients a get-rich-quick scheme; a to find and get to know panacea; or an excuse to your business stop selling a marathon a sprint a targeted community of a giant audience of any the right people people who’ll listenit’s a marathon, not a sprint.
[why care?]engagement: better word of mouth & deeperrelationships with customers. word of mouth is 5x aseffective as a personal sales pitch.search: google confirmed in dec. 2010 that they arenow using social media as a “signal,” or portion ofthe algorithm used to determine placement inorganic search.cost: price per impression is nominal.immediacy: real-time ability to target promotions.
[immediacy example]1. Build a community on Facebook , Twitter, blog, etc.2. Establish trust. Share and produce useful content, not just sales pitches.3. Give them offers when you need them. Group cancels for next week Option 1: Big Option 2: Great sale on OTA; rate for fans; sacrifice 15-20% keep all your of profit. margin.
[community]a group of people who are there voluntarily. 20M 600M 100M 25BFacebook apps installed Facebook users New Twitter accounts in Number of tweets sent daily 2010 in 2010 880 million people use the top 15 social networking sites. surely some of them want to join your community!
So, how can myhow to business actually use social media?
[case study] Liza’s KitchenFacebook Fan Page April 14 0 fans April 16 296 fans May 25 463 fans July 15 655 fans Oct. 6 923 fans Dec. 3 1,009 fansSpecial Events via FacebookSept. Wine Tasting Strongest revenue performance everNov. Cooking Demo Sold out event; sold highest amount of retail product ever
[case study] Boston HotelCampaign started in August Results as of November increased ranking ten places in four months using a rapid response program
[other ideas]• create a LinkedIn group for your best clients andshare content that will make their jobs easier.• use TripAdvisor scores to negotiate your rateswith hotels.• listen to conversations on Twitter to understandyour competitors’ weaknesses.• work with destination partners to create a blogthat will help you all appear higher in search.
[other ideas]• answer questions on Quora or LinkedIn Q&A toestablish yourself as an expert.• create offers on FourSquare or Groupon thatreward the consumer behaviors you want toencourage.• look up a potential client on Facebook orLinkedIn to get insight into hobbies andinterests.
[how to measure roi] one size does not fit all. your success should bedetermined by your objectives. social media is infinitelymeasurable, as long as you are strategic and know what you want to achieve.
If your social media objective is…. Then measure success by…. Deepening your relationship Counting the number of referrals with existing customers…. you get from fans and followers. Spreading the word to as Tracking your fan and follower many people as possible…. counts. Improving your search Benchmarking and tracking how results…. you rank over time. Establishing authority in a Counting how often you appear particular field…. in queries. Driving revenue to a particular Counting how much incremental time period or product line…. revenue you make.measure roi based on your objectives.
What are the newest trends andnew stuff ideas in social media?