The 7 Social Media Secrets Every Corporation Should Know Presented To: 2010 iStrategy Conference Location: Berlin, Germany Susan Rice Lincoln
How we will talk today Let’s try to be as ‘social’ as possible We’llreview 7 Secrets of Social Media I will presentmythoughts You addyours This is YOUR presentation, not mine We can’t do everything in an hour and 15 minutes...
Social Media is a particularblend of magic Tactics Strategy Details THE BIG PICTURE Getting the balance right is a big challenge
The Seven Secrets 1. Big Picture 2. Right Thoughts 3. Fall Back 4. SpringForward 5 Observe 6. Strategize 7. Measure
In the last 1460 days the world as we knew it exploded.
Video – Social Media Revolution
The web’s top sites are full of companies who are younger than first graders… Top 10 Global Sites on Alexa: 1. Google 2. Facebook 3. YouTube 4. Yahoo 5. Windows Live 6. Wikipedia 7. Blogger.com 8. Baidu.com 9. MSN 10. QQ.com
If Facebook was a country it would be bigger than the USA
Social Media Sites AlreadyExceedTelevision’sReach Monthly Global Unique Visitors (in millions) Source: comScore as reported in “Top Social Media Sites of 2008 (Facebook Still Rising),” TechCrunch Dec 31, 2008
And social media is not justabout the younggeneration… Source: Accenture, 2009
…or Americans…. Social Media Grows Like Wildfire Worldwide Internet Users in Select Countries Who Have Created a Social Network Profile as of 2009 Data provided from eMarketer article: Focusing on Social Networks.
240 million Europeans use Social Media * *Source: Eranium. “Social Networking Map of Europe.” 3 Oct.. 2008. Online image. Flickr. 03 Feb. 2010. http://farm4.static.flickr.com/3276/2960555931_2ab7d5f171.jpg
While 92 million Europeans are on Facebook alone
For a long time, there has been a growingdisconnect between companies and consumers 76% of customers don’tbelieve companies tell the truth in advertising. Yet, 78% rate the credibility of word-of-mouth as 7 or higher on a 10 point scale. Keller Fay Group 2006 Consumers in the USA and Europe are 86% lesstrusting of companies than theywere five yearsago. Bain & Co. 2006
Be Nice “It is Ryanair policy not to waste time and energy in corresponding with idiot bloggers and Ryanair can confirm that it won’t be happening again,” it told The Times. “Lunatic bloggers can have the blog sphere all to themselves as our people are far too busy driving down the cost of air travel”.
Start with baby steps… Go slow Experimentwithlittle programmes Learnwhatworks and doesn’twork Expect and embracefailures Dare to makemistakes Know thatsuccess is around the corner Social media is one interaction and one contact at a time
You need to acceptyoucan’t do everything Social media is a blend of: Excellent Strategy Understanding of how your social media strategyfitsinto your overall business plan Superior knowledge of the tools Experience Do you really think you have all those qualities in-house?
Carefullydecidewho is going to help you.. Do you really have the capabilities in-house? Chances are your agency hasn’t figured it out Social media is not in their DNA Still trying to sort out SEM and display Many social media consultant have little experience Don’t understand strategy Don’t understand companies
4. Think Consumer to Consumer The goal is to facilitate conversations BETWEEN your consumers rather than between YOU and YOUR consumer…
You don’t manage the conversation. Your customerdoes!
“ You can’t just say it. You have to get the people to say it to each other, says James Farley, CMO Ford. “
10. Learn how to respondwhen people saynegativethings about you Listen Respond Fix things
Negativecomments are a necessaryevil Respond Respond quickly Respond politely Transform your enemies into advocates Don’t review your blog’s comments Allow people to say negative things Reviewing comments is poorly received by the blogosphere It is better you know what people are saying than to ignore it Enter into the dialogue Tell your side of the story
A recentstudy shows thatmostreviewsaren’t as negative as feared 90% of reviewers said they wrote reviews to help others make better purchasing decisions 70% said they wrote reviews to help companies improve their products 79% wrote reviews to reward the company 87% wrote reviews that were generally positive Source: BazaarVoice, a website authored by Marketing Charts
Criticism is not your enemy…your FEAR of criticismmay be.. A negative response is a cry for help AND an acknowledgement they care
New technologycanre-define interactions between brands and consumers Get rid of old thinking Change the advertising paradigm of the 20th century You need to innovate as much as technology has Be respectful of digital touch points and community sensitivities
Missouri Bank Mobank serves an eclectic customer base of visionaries and artists Doesn’t use social media to sell Uses social media to build community philosophy Cool image on Facebook An online neighborhood Customers interact like they do at the branches
@CoffeeGroundz was one of the first to start taking orders to go on Twitter
Kogi BBQ transformed the mundaneinto a big business….. Mobile Korean BBQ that travels around LA selling Korean tacos. Now has 45,000 followers on Twitter by tweeting where the truck is going to roll up Ran a t-shirt competition with fans voting on their favorite t-shirt design The now-famous taco truck has reached cult status
1-800-Flowers links rewards programme to Facebook Uses Gimme Love, an application from Loyalty Lab Connects customer loyalty programmes to Facebook applications and widgets Rewards customers for activities they do on Facebook with the brand For example, members of the 1-800-Flowers.com loyalty programme are rewarded when they refer friends to the company.
H&R Block put the fun back into taxes Engage with taxpayers by setting up a presence in many different parts of the social web Depending on the audience/platform, made taxes funny, interesting, informative or personal. MySpace and YouTube Created spoof character Truman Greene who sang parody songs about his love of taxes Facebook Useful fools for people Tips Education Twitter Experts available 24/7 to answer questions
Aleksandr Orlov and Compare the Meerkatre-defined car insurance
This car insurance programme has enjoyed a wildsuccess The official YouTube video 80,00 views + Over 320,000 Facebook fans Hugenumber of comments and likes customized photos Petitions to getcuddlytoys Alsoloved on Twitter
This car insurancecompany has enjoyed a wildsuccess In first 3 days of programme, ¾ of monthly quotes target was achieved Year on year uplift was 45% Success due to Great on and offline synergy Integration of offline direct marketing campaign with a strong social media programme
Think out of the box with your choices of social media toolstoo Flickr Slideshare Podcasting Yelp Foursquare
7. Think social OUTSIDE your company and selling INSIDE your company
Find the sweet spot between selling and social… Social media networks are fragile They don’t like commercial promotion Don’t hawk your products Selling on social media is a turnoff Talk about your products only in the spirit of conversation Your selling should be about 10% of your content Network through social media Sell elsewhere
“ It's not the typical one-way push kind of conversation. You wouldn't burst into a cocktail party and just start handing your business card to people and leave. The online space is no different. “ Scott Monty, Ford
Your blog has infinitebenefits… Establishesyou as a thought leader Increases your credibility Allowsyou to converse with consumers and prospects Givesyou a veryclearidea of what is important to people in your market Is a keylaunching pad into social media
Here are 10 possible ways to use a blog Provide resources/tips related to your industry Establish yourself as an expert in your field Report back from an event or conference Involve your staff and let them share their knowledge Provide a place for consumers to share information Give your customers a place to voice their opinion Share your story Share your clients’ stories Talk about your products (the good/the bad/the ugly) Discuss products/trends affecting your industry
Use your blog posts in multiple ways Link your blog with Facebook Use Facebook’s Notes feature Link to your personal profile page and/or your business fan page Tweet about your blog. Automatically send out a Tweet when you publish a new post Send a Tweet with an interesting statistic (from your blog post) and a link to the post If your blog post answers a controversial question, ask the question in Twitter with a link to the post
Use your blog post in multiple ways Edit your blog post for article directories Upload your article on Ezinearticles.com Publishers of ezines/newsletters/blogs use content from Ezinearticles.com in their publications, giving credit to the author with a link to your website Great way to drive traffic to your website and establish yourself as a thought leader Depending on the size of your blog, you may be able to submit several articles from one blog post.
Use your blog post in multiple ways Submit your blog posts to print publications Newspapers Association newsletters Magazines Record your blog posts Take your best blog posts Record on a digital recorder Or record directly into computer with a microphone Use free software Audacity. Post the recordings on your website Burn them onto CDS/DVDs and give them to prospects
The most common user action on a Web site is to flee. “ “ Edward Tufte, Information Design Guru
A bad web site is like a grumpy salesperson. “ “ Jakob Nielsen, Web Usability Guru
The majority of websites are STILL likefancy business cardsfloating in cyberspace
There is a big difference between a Web 1.0 site and a Web 2.0 site
Your website is one of the biggeset social media toolsyou have Your website should be a place where: Prospects/Customers can join your network Prospects/Customers can talk to each other Prospects/Customers can access interesting content Prospects/Customers can promote your content You place links/buttons to other social media spaces: Twitter Facebook LinkedIn Yelp
Start thinking about your websitedifferently Build it not just from YOUR point of view, build it from your customer ‘s point of view A customer comes to your site to solve HIS problem, not to find out about what YOU think about YOU. Let other people publish on your website Customers Prospects Partners Other members of the community Dare to incorporate negative and positive views about your product i.e. use unfiltered customer testimonials
Your websiteshould be a communityresource Be a credible source of opinion and fact Be the Oprah Winfrey for your industry Customers will make your site the first place to go for information in your industry You can build better products and services with real-time customer feedback You will be a community resource that helps meet your customer needs faster You will build trust
Think about social media as a hub withspokes (not a two-way radio) Use one place as a launching point or hub Your blog Your website
By 2012, 40% of all videoconsumptionwilloccuroutside of the television set. Learmonth, M. Flickr/joelfrijhoff
A picture is worth a thousandwords Let people see your products Let people see YOU Videos (and photos) are: Easy to create Easy to publish Allow you to explain complex how-to concepts Explain step-by-step directions better than the written word Show your business is fun Make your company more approachable
There are manywaysyoucan use video Show your products Interview your clients Interview key thought leaders Have someone interview you Do a visual walkthrough of your company or a product Answer FAQs Read out your favorite blog posts Show you or a member of your team giving a public presentation Video you being interviewed by the media Use video as a form of training for your real or virtual team
Mobile is about to stun us all… “ With all the capabilities these phones that are coming out have like GPS, cameras - we think there is the potential to actually make this mobile Web better than the PC Web. - Google's VP of product development “
The increase in mobile phones is attracting companies to mobile social media
Facebookis the most favorite social media network for mobile applications
Mobile applications are proliferatinglikerabbits
Volkswagen goes 100% Mobile for launch of GTI
Think about offering your customers an exceptional product experience on the go.
FollowTasti D-Lite’s lead… The first restaurant to incorporate social media rewards into their loyalty programme Customers accrue extra points (and earn free frozen treats faster) for Foursquare check-ins and tweets automatically made when their TastiRewards cards are swiped. The exchange of goods for check-ins is a way of treating social media as currency
Its social and its smart…and itsrevolutionising the waywethink.. The company will get accurate accounts on the quantity of tweets/check-ins with card swipes It can quantify social media updates with sales figure It can track change over time and assess the influence of the TastiRewards tweets and check-ins as it pertains to the growth of the programme
Understand your social media world beforeyoustepinto it…
You must understand the social media conversation swirling around you.. About you About your company About competitors About your space Flickr/Matt Hamm
You need to understandit all… What are your customers/prospects talking about? Where are theytalking? Whoistalking? What are the issues or problemstroubling people? Are therebreakthroughs in your field that are getting people excited? Whatdoes your consumer like? Whatdon’ttheylike? Where are you in all of this conversation?
You alsoneed to know everything about your competitors Their overall presence Where they are What they are talking about Their tone of voice What kind of activity they are engaging in How their customers and prospects are speaking to them Their problems Their opportunities How effective they are
As well as identify and trackthe keyinfluencers Who are the influencers? What do they think is important? What do they think about you? Are they talking about you? What are the compelling issues?
Start by identifying your questions Flickr/MyKPWedding
Key questions? Start with the basics: Where are people talking about me and my industry? Social Media Networking? Twitter? YouTube? Flickr? Groups? Social Bookmarking
Key questions? Who are theytalking about? Companies People Brands No one Whoisdoing the talking? Age group Sex Location Consumers Prospects Influencers
Key questions? Who are my influencers? Who is talking about my brand? Who is talking about my competitors Who is talking about my industry? What is their social reach? (on Facebook/Blog/Twitter/LinkedIn/Forums) Who is listening to them?
Key questions? What are the types of subjectsdiscussed? New products? Problemswithcurrentproducts/service? New overall trends? Life?
What are your key questions? Whatis the tone of the conversation in terms of you/yourcompany? Satisfied? Complaining? Very interactive? Uninvolved? What is the tone of the conversation in terms of your competitors? Satisfied? Complaining? Very interactive? Uninvolved?
Key questions? Do youseeobvious areas thatneed to bechanged? Type of conversation Subject of conversation Tone of conversation Overallpresence Improvement in target audience
Thendecide how youwill monitor Free tools Paid services Or a combination of the two?
A good starting point is Google Alerts Scans the internet for important keywords Keeps you up-to-date on new developments related to those keywords. Allows you to reduce information overload while remaining informed Gives you a good idea about where you are placed in the social media space Delivers all this timely information into your e-mail box
Social Mention is a free keywordtracker Displays key stats like sentiment in a nice dashboard Does not store data for you An instant snapshot of the last 30 days activity
Here are somepaid monitoring tools Radian 6 Techrigy SM2 Scoutlabs Trackur
Radian6 Expensive Multiple dashboards: Conversation Clouds, Rivers of News, Topic Trends.. Tutorial videos Simple,intuitive, easy to set up Detailed reporting Pricing $500 for up to 10,000 search results/month $1500 for 50,000 search results/month . .
TechrigySM2 Not as intuitive as Radian6 Good, solid product Video tutorials $600/month for 20,000 results $4800 for 5000,000 stored results
Scoutlabs Simple to use setting up searches is easy Less complex but just as useful asRadian6 or SM2 ; a useful stripped down version Easy-to-use overlay feature so you can compare data trends $99 per month for 5 concurrent searches $749 per month for 125 concurrent searches
Trackur Very basic app which will give you a simple view Search by influence Apply a simple sentiment rating View simple graphs $18/month for 3 searches updated 2x a day $197/month for 150 searches updated every 30 minutes
Social Media Secret 6:Strategize Rememberthatusing a social media tool is NOT a strategy…
Forget about tools - Think about purpose You can’t possibly use ALL the tools we have discussed Figure out what you want to do first The question isn’t what tool should we use The question is what do we want to achieve Imagine someone asking, Ï just got a screwdriver..what should I fix?” You don’t get a tool and look for a problem. You isolate a problem and then select the appropriate tool to fix it with
Your strategycomes as a direct resultfrom your assessment… Through the assessment (Step 4) you have done the following: Discovered where your supporters/potential supporters are in the social media space Seen/heard/read what they are discussing Understood their concerns Been inspired by their dreams Now it is time to figure out how to ENGAGE those supporters Plan your objectives Decide on your goals Figure out what you want to achieve Be clear about how you want to measure it
There are four distinct steps in the creation of your strategy Create a social SWOTs analysis (on the basis of your assessment) Social Strengths Social Weaknesses Social Opportunities Social Threats Choose your strategy (goals/objectives) on the basis of the social SWOTs Select the tools you will use to achieve your strategy Decide how you are going to measure your programme’s success/failure
2. Pick your strategy on basis of your SWOTsanalysis Here are someexamples: Increase brand awareness Build your community Generateleads Manage brand perception Deal withcustomer service issues Establish yourself as a keythought leader Get to know the influencers in your field Give your social media community a set of specialperks (coupons/discounts/special products) Stimulateexcitement and interest in your category Increase traffic to your blog and/or website Talk more intimatelywith niche audiences
Use your brand promise as a guidingprincipleacross social media efforts
Understand the value a companyoffers a community Go back to the core value your organization offers This is the heart of your social media strategy begins Don’t use tools just because they are ‘hot’; this is putting the cart before the horse.
Build Community Traffic Social Net. Sites Social Bkmarks Converse withCommunities of Passion Thought Leadership Blogs Podcasts Videos Microblogs High Emotion/Immediacy Brand Awareness 3. Pick the toolthat matches your strategywith the Web Wheel
4. Defineexactly how youwillmeasuresuccess On a piece of paper, write down whatyouwant to achieve Be specific Increase number of followers on Twitter by 500 Increase number of fans on Facebook fan page by 35% Increase contacts in your LinkedIn Network by 350 i.e. increase sales by $10,000 i.e. increase comments on blog by 20%
Social Media Secret Number 7: Measure Your Movement
Use Facebook and Twitter to notify followers of discount voucher codes (for online sales)
Search function within Facebook group for codes and discounts Constant feed of best discounts Offering followers something for nothing, rather than hard sell
Leap in traffic and money spent
The results for MyVoucherCodes.co.uk? Facebook and Twitter More than £21.4m sales 12% total sales in fourth quarter 2009 12,000 fans on Facebook and 2,600 Twitter followers averaging 6 visits/month to site 4,070,000 visitors courtesy of Facebook and Twitter
“ I’ve seen many people say that having a presence on social media networks does little more than improve brand awareness for companies – but our experience really proves that social media really can be a worthwhile form of marketing, said Managing Director of MyVoucherCodes.co.uk, Mark Pearson “
Gary Vaynercuk Grew his business from 4-50 million Wine TV Library Showed off Gary’s personality and knowledge Gary experienced the followingresults: $15000 in Direct Mail=200 new customers $7500 Billboard=300 new customers $0 Twitter = 1,800 new customers.
Companies who engage in social media are more successful Wetpaint/Altimeter Study found companies deeply engaged in social media: Have better revenues Enjoy better profits Companies with highest levels of social media activity grew on average by 18% Companies with least amounts of social media activity sales declined by -6%
Lenovo achieved big costsavings 20% reduction in call center activity as customers go to community websites for answers
Burger King Whopper Sacrifice Facebook programme Asked users to give up 10 of their Facebook friends in exchange for a free Whopper $50,000 programme 32 million media impressions (t $400,000 in press value equivalent of the population of 19 states)
The Blendtec Will itBlendvideoincreased sales 500%
Dell sold $3 million worth of computers on Twitter
Intuit’s Live Community Introduced Live Community into TurboTax products 2 years ago Live Community allows customers to ask each other questions Unit sales increase +30% each year Now integrated Live Community into other products (Quickbooks, Quicken) .
BarackObama 5 million fans on social media 5.4 million clicked on an “I voted for Obama” Facebook button. 3 million online donors contributing $500 million in fundraising 92% of donations in increments less than $100
Moonfruit Web host provider got back $15,000 social media investment Website Traffic soared +300% while correspondingly sales increased +20%. Huge lift in search engine rankings
Social optimisation is the keyword You want people to make a noise. You want people to store and share things. You want people to love your website. You want people to visit more frequently You want people to refer your company to their friends. You want people to buy into your brand. You want people to buy your products.
Decide the ultimateaim of a social media programme Product awareness (measured in conversational terms) Real sales (measured by actual sales figures) Something else Need a clear picture in order to track results
The best way to manage measurementis to separate out social from media Qualitative (Social) Customer satisfaction Loyalty Interaction Feedback Quantitative (Media) Sales revenue New leads Newsletter subscribers Decide what you want to track Measure the metrics that matter to you
Social (Qualitative) MeasurementExamples Example #1: Rackspace IT Hosting campaign to build loyalty and trust. Idea: Be nice to customers who mention your company and/or product name on TwitterSuccess Metrics: Amount of positive comments sent to customers per week within a given time Amount of conversations that started from the comment Goal: N amount of positive conversations about your company or product per week
Social (Qualitative) MeasurementExamples Example #2: Starbuck’s Campaign to increase customer satisfaction. Idea: Engage with customers and prospects using social media and ask what they would like from you. Success Metrics: Amount of good suggestions Amount of the good suggestions received that your company actual implements Goal: N amount of suggestions collected per month and N amount that you actually implement.
Social (Qualitative) MeasurementExamples Example # 3: Copyblogger campaign to increase authority. Idea: Start a blog on a topic that relates to their company and which positioned them as an expert. Success Metrics: Amount of influential blogs linking to them Page rank relative to that of competitors Amount of organic traffic per month Amount of traffic that converts to sales Goals: N page rank by a certain date Nth position in page rank relative to competitors by a certain date N% of organic traffic per month $N per month attributable to referrals from blog
Media (Quantitative) Examples Example #1: Burger King campaign to increase offline sales Idea: Implement a promotion on a social media platform. Give participants a printable campaign voucher so you can track where the offline sales originated. Success Metrics: Monthly sales Monthly store traffic Goals: $N monthly sales N% increase in store traffic over the pre-promotion period
Media (Quantitative) Examples Example #2: Dell Outlet Campaign to increase online sales Idea: Use Twitter to inform prospects about special promotions. Capitalize on Twitter’s real-time nature for exclusive limited-customer and/or limited time offers Success Metrics: Monthly sales and new customers attributable directly to Twitter Monthly revenue generated from customers originally from Twitter (e.g. did the customer go back later and buy more) Goals: $N monthly sales $N monthly sales directly attributable to Twitter
Hereis how youcanmeasure Bookmarks Comments Downloads Email subscriptions Fans (become a fan of something / someone) Favourites (add an item to favourites) Feedback (via the site)
Hereis how youcanmeasure Followers (followsomething / someone) Forward to a friend Groups (create / join / total number of groups / group activity) Install widget (on a blog page, Facebook, etc) Invite / Refer(a friend) Key page activity (post-activity) Love / Like this (rating)
Hereis how youcanmeasure Messaging (onsite) Personalisation (pages, display, theme) Posts Profile (e.g. update avatar, bio, links, email, customisation, etc) Print page Ratings Registered users (new / total / active / dormant / churn)
Hereis how youcanmeasure Reviews Social media sharing / participation (activity on key social media sites, e.g. Facebook, Twitter, Digg, etc) Tagging (user-generatedmetadata) Testimonials Time spent on key pages Time spent on site (by source / by entry page)
Hereis how youcanmeasure Total contributors (and % active contributors) Uploads (add an item, e.g. articles, links, images, videos) Views (videos, ads, rich images) Widgets (number of new widgets users / embedded widgets) Wishlists (save an item to wishlist)
“We're still in the first minutes of the first day of the Internet revolution” Scott Cook