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Social Media Marketing

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These slides provide an overview of social media marketing; background knowledge, methods and processes for managing social media, measuring social media and not least different strategies for …

These slides provide an overview of social media marketing; background knowledge, methods and processes for managing social media, measuring social media and not least different strategies for implementing social media marketing.

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  • 1. AARHUS UNIVERSITYSOCIAL MEDIA MARKETINGJacob L. Orquin, Ph.D.Department of Business AdministrationAarhus University ASB AU MAPP
  • 2. AARHUS UNIVERSITYSOCIAL MEDIAStill no consensus on how to categorize social media …www.fredcavazza.net/2008/06/09/social-media-landscape ASB AU MAPP
  • 3. AARHUS UNIVERSITYMYTHS ABOUT SOCIAL MEDIA MARKETING Social media marketing is free there is no free lunch, there has never been one, and there will never be one … Social media marketing can create sales well, in some cases it can create leads or sign-ups. but direct sales, hardly. Social media marketing can create viral spread of marketing messages viral spread is seldom as ”viral” as we would like to believe,.. ASB AU MAPP
  • 4. AARHUS UNIVERSITYWHAT IS SOCIAL MEDIA MARKETING?Is it social media marketing to place you adds on facebook? ASB AU MAPP
  • 5. AARHUS UNIVERSITYREALLY IT’S ABOUT …… using social network relations for marketing purposes. ASB AU MAPP
  • 6. AARHUS UNIVERSITYIT’S ALSO ABOUT …… SOCIAL IMITATION  Awereness and interest  Belief updating  Normative pressure  Competetive concerns  Complementary network effectsVan den Bulte and Wuyts 2007 / nlpweeklymagazine.com/uploads/nlp1071.jpg ASB AU MAPP
  • 7. AARHUS UNIVERSITYNETWORK EFFECTSWhat positive network effects could your company benefit from? ASB AU MAPP
  • 8. AARHUS UNIVERSITYSOCIAL ROLESWho would you want to activate through social media marketing?  Salesmen  Mavens  Connectors ASB AU MAPP
  • 9. AARHUS UNIVERSITYTALK MATTERSAIDA + some talking = social feedback cycleEvans (2008) ASB AU MAPP
  • 10. AARHUS UNIVERSITYSOCIAL FEEDBACK CYCLEDecision making influenced by social media cyclus by Constantinides andFountain (2008). ASB AU MAPP
  • 11. AARHUS UNIVERSITYSOCIAL MEDIA MARKETING PERSPECTIVES PR, reputation management Direct marketing advertising Marketing Communication Relationship marketing Marketing Customer user-innovation Research Service Customer serviceMarketing research P2P support listening-in ASB AU MAPP
  • 12. AARHUS UNIVERSITYUSE OF SOCIAL MEDIA MARKETINGMcKinsey . ( 2007 ) ‘ How business are using Web 2.0: A McKinsey global survey ’ , The McKinsey Quarterly mckinseyquarterly.com/Marketing/How_businesses_are_using_Web_20_A_McKinsey_Global_Survey_1913_abstract ASB AU MAPP
  • 13. AARHUS UNIVERSITYUSE OF SOCIAL MEDIA MARKETINGMcKinsey . ( 2007 ) ‘ How business are using Web 2.0: A McKinsey global survey ’ , The McKinsey Quarterly mckinseyquarterly.com/Marketing/How_businesses_are_using_Web_20_A_McKinsey_Global_Survey_1913_abstract ASB AU MAPP
  • 14. AARHUS UNIVERSITYCUSTOMER SERVICE COMMUNITIES90 – 9 -1 rule: 90 % reads answers, 9 % write answers, 1 % are superusersand generate most of the activity.community.dell.com ASB AU MAPP
  • 15. AARHUS UNIVERSITYREVIEWS / RATINGSUser generated content and reviews can support the consumer decisionmaking in a positive direction.Trustpilot.dk / skatepro.dk ASB AU MAPP
  • 16. AARHUS UNIVERSITYBLOGGINGThe personality and credibility of the blogger will be transmitted to thecompany which creates a unique possibility for improving customer orstakeholder relations.www.arla.dk ASB AU MAPP
  • 17. AARHUS UNIVERSITYAPPLICATIONSOne of these applications outperformed the other 10 times across 7different European countries. Guess which one? ASB AU MAPP
  • 18. AARHUS UNIVERSITYSOCIAL NETWORKSA profile at linkedin, facebok, naymz, plaxo etc. can be used for bothpersonal and company branding. ASB AU MAPP
  • 19. AARHUS UNIVERSITYRELATIONSHIP MARKETINGThe company profile on a social network can function as a platform formarketing events, products and coordinating stakeholder activities. ASB AU MAPP
  • 20. AARHUS UNIVERSITYVIRAL MARKETINGMost ”viral marketing” campaigns need massive seeding.http://blogs.hillandknowlton.com/meghanstuyvenberg/files/2009/08/viral-marketing.jpg ASB AU MAPP
  • 21. AARHUS UNIVERSITYTHE TIPPING POINT1,001 = viral expansion loop?www.fastcompany.com/magazine/125/nings-infinite-ambition.html?page=0%2C0 ASB AU MAPP
  • 22. AARHUS UNIVERSITYSOCIAL MEDIA STRATEGIESputting social media to work (according to Forrester)1. Listening2. Talking3. Engaging/energizing4. Supporting5. Innovation ASB AU MAPP
  • 23. AARHUS UNIVERSITYLISTENING-INWhat does you brand mean to your customers?Understand how the talk changesSave analysis resources while increasing insightsIdentify the sources of influenceManage PR crisesGenerate new product ideas ASB AU MAPP
  • 24. AARHUS UNIVERSITYLISTENING-IN THROUGH COMMUNITIESIt might be worth the trouble if your employer is called Proctor & Gamble …the costs associated in maintaining a community site are massive.Procter & Gamble’s beinggirl.dk ASB AU MAPP
  • 25. AARHUS UNIVERSITYTALKING THROUGH SOCIAL MEDIAViral marketingInvolvement in social networksCorporate bloggingCreate a community viral video for Nokia Procter & Gamble’s beinggirl.dk Microsoft employee blog ASB AU MAPP
  • 26. AARHUS UNIVERSITYENGAGE AND ENERGIZEDo you have loyal or enthusiastic customers that would endorse yourbrand? - Reviews and communitiesHow can you create value for your customers that enhances productexperience? - Social networks end platforms Telmore to Telmore Trustpilot company reviews application Roskilde Festival camp and ratings planner application ASB AU MAPP
  • 27. AARHUS UNIVERSITYINNOVATION THROUGH SOCIAL MEDIAaka. Crowdsourcing … My Starbucks Idea community Lego Mindstorms community ASB AU MAPP
  • 28. AARHUS UNIVERSITYMETHODS AND PROCESSESmanaging social media marketing1. Forrester’s POST model2. Dave Evans’ approach ASB AU MAPP
  • 29. AARHUS UNIVERSITYFORRESTER’S POST MODEL people Who are they and what are your customers ready for? objectives What objectives should you aim at? strategy How will you acomplish your goals? technology What apllications should you use? ASB AU MAPP
  • 30. AARHUS UNIVERSITYDAVE EVAN’S APPROACHSimple overview:I. Analysis of social feedback cycle, touchpoint mapping, Net Promoter ScoreII. Mapping of social media channelsIII. Identify business goals, KPI’s and ROI for social media campaignsIV. Write the social media marketing plan ASB AU MAPP
  • 31. AARHUS UNIVERSITYMEASURING SOCIAL MEDIAmeasuring social media marketing1. Measuring content2. Measuring relevance3. Measuring impact4. ROI on social media marketing ASB AU MAPP
  • 32. AARHUS UNIVERSITYWHAT TO MEASURE?• Social media monitoring (content)• Web analytics (relevance)• Pipeline metrics (impact) ASB AU MAPP
  • 33. AARHUS UNIVERSITYMEASURING CONTENTWhat are they talking about and how much are they talking?Social media monitoring: Buzzmetrics, Cymphony, Google blogsearch,Blogpulse.com Facebook Lexicon Blogpulse.com Google blogsearch ASB AU MAPP
  • 34. AARHUS UNIVERSITYMEASURING RELEVANCEDo social media activities lead to any increase in interest or userengagement on corporate web site or in search activity? Google analytics Google insights ASB AU MAPP
  • 35. AARHUS UNIVERSITYMEASURING IMPACTDo the increased interest and engagement generate sales leads orincreased turnover? Focus on conversion rate and average sales value. ASB AU MAPP
  • 36. AARHUS UNIVERSITYROI ON SOCIAL MEDIA MARKETING42 % - 100 % ROI during first year, perhaps you should invest in stockoptions instead? ASB AU MAPP
  • 37. AARHUS UNIVERSITYTHE QUORN CASEDoing Social Media Marketing using the POST method:1. People2. Objectives3. Strategy4. Technology ASB AU MAPP
  • 38. AARHUS UNIVERSITY4 STAGESFollowing the POST method:People: who are they?Objectives: should we listen or talk to them?Strategy: how do we reach our goals?Technology: what applications should we use? Meat free frozen foods introduced in the British market in 1985, US market 2002 ASB AU MAPP
  • 39. AARHUS UNIVERSITYPOST - PEOPLESocial technology profilehttp://www.forrester.com/empowered/tool_consumer.html ASB AU MAPP
  • 40. AARHUS UNIVERSITYPOST - PEOPLE ASB AU MAPP
  • 41. AARHUS UNIVERSITYPOST - PEOPLEYes they are already out there discussing your products whether you like itor not! A positive discussion of A group who thinks that Quorn Quorn on Facebook is an evil nazi product A group who wants to make A positive discussion on a Quorn vegan Danish vegetarian forum ASB AU MAPP
  • 42. AARHUS UNIVERSITYPOST - OBJECTIVESWhat would be relevant and feasible for Quorn? ASB AU MAPP
  • 43. AARHUS UNIVERSITYPOST - STRATEGYHow should we engage our customers and how should this relationshipdevelop over time?What could Quorn gain from social media marketing?What’s the relevance of KPI’s for social media marketing? ASB AU MAPP
  • 44. AARHUS UNIVERSITYPOST - TECHNOLOGYWhat applications do we want to use?Where are the customers and how do we want to reach them? ASB AU MAPP
  • 45. AARHUS UNIVERSITYSOCIAL MEDIA MARKETING REFERENCESLi, C., & Bernoff, J. (2008). Groundswell: Winning in a world transformed by social technologies. Boston, MA: Harvard Business Press.Evans, D. (2008). Social Media Marketing: An hour a day. Wiley Publishing, Inc. IndianapolisShuen, A. (2008). Web 2.0: A strategy guide. OReilly Media, Inc.Constantinides, E. (2004). Influencing the online consumer’s behavior: The web experience. Internet Research, 14(2), 111-126. ASB AU MAPP
  • 46. AARHUS UNIVERSITYCONTACTJacob L Orquin, Ph.D.Department of Business AdministrationAarhus UniversityE-mail: jalo@asb.dkCheck out my company:www.userpilot.dk ASB AU MAPP