Strategy to Accelerate Your Business Growth with Social Marketing


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Strategy to Accelerate Your Business Growth with Social Marketing

  1. 1. Strategy to Accelerate Your Business Growth with Social Marketing
  2. 2. Topics Investigated• Introduction & Traditional Marketing Methods• The Social Media Advantage• Social Media Marketing Program: Strategy, Methods & Measures of Success• Effective Use of Social Media• Viral Marketing & Social Networks• Developing Your Social Media Marketing ProgramSocial Marketing Advisors – Copyright 2012 2
  3. 3. Imagine The ImpactImagine the effect on your business with:• 2,000+ new qualified prospects in the next 60 days• Converting 100 prospects into repeat customers• And more than 200 new customers in the next 6 months What impact will this have on your revenue and profit?Social Marketing Advisors – Copyright 2012 3
  4. 4. Traditional Methods of Lead GenerationTraditional Advertising• Yellow Pages, YB• Mailer Packs• Local Magazines• Newspapers• How much are you spending monthly?• Are you satisfied with your return on investment?Social Marketing Advisors – Copyright 2012 4
  5. 5. Traditional Methods of Lead GenerationIssues & Challenges• High cost and low views• Passive advertising• Minimal or no capability to measure results• No email list auto-building• Typically a one-time transactional sale• Minimal relationship development• Low return on investment• Referral (viral) marketing not possibleSocial Marketing Advisors – Copyright 2012 5
  6. 6. New Group Marketing Techniques: AmazonLocal & GrouponBenefits• Provides a low cost opportunity for prospects to try products & servicesIssues & Challenges• Promoted only to subscribers of these services• Loss leader concept, the group marketers keep 50% of the “deal” price• No email list auto-building• Typically a one-time transactional sale• Minimal relationship development• Low return on investment• Referral (viral) marketing not possibleSocial Marketing Advisors – Copyright 2012 6
  7. 7. Relationship Xpansion with Social MediaEngage more prospects and customers with RelationshipXpansion (Rx) techniques:• Develop offers that can be shared by prospects and customers.• Use third-party referral methods that are much more effective than traditional advertising (viral marketing).• Build relationships with prospects before they visit your business for the first time.How can this be achieved in a cost effective manner?Social Marketing Advisors – Copyright 2012 7
  8. 8. The Social Media Advantage
  9. 9. Social Media: The Foundation for Viral MarketingSocial Marketing Advisors – Copyright 2012 9
  10. 10. Social Media Marketing• Utilize social networking for enhanced exposure• Interact with people and build relationships• Fans become your referral engine when they have a good reason to share your business With various social media, which is best for viral promotional marketing?Social Marketing Advisors – Copyright 2012 10
  11. 11. Social Media Marketing: Facebook• Why Facebook? Explosive growth and market penetration, over 150,000,000 users in the U.S.• Users are on Facebook more than one hour daily• No cost for a business page• No cost for promotional postings and photos• Ability for contests and coupon offersSocial Marketing Advisors – Copyright 2012 11
  12. 12. Social Media Marketing Program:Strategy, Methods & Measures
  13. 13. Defining Your Social Marketing Strategy• Utilize the Facebook social network to acquire qualified prospects and expand relationships. Build a following of _____ fans.• Encourage prospects and customers to refer you business service or products using viral marketing methods.• Convert _____ prospects into customers with relationship expansion techniques.• Increase sales while maintaining fixed costs. The additional net revenue will directly translate to net income .Social Marketing Advisors – Copyright 2012 13
  14. 14. Methods to Achieve Goals• Let Facebook fans refer your business using viral marketing techniques: contests, coupons• Develop a flyer to inform existing customers about your Facebook page and viral offers• Build an effective email database for emailing promotionsSocial Marketing Advisors – Copyright 2012 14
  15. 15. Methods to Achieve Goals• Dedicate time weekly to interact with your Facebook fans and further build relationships• Post product, service and other useful information to your Facebook page several times weekly, shows up on your fan’s News Feeds in FacebookSocial Marketing Advisors – Copyright 2012 15
  16. 16. Determine SuccessYou cant manage what you don’t measure. It’s important todevelop proper measures and process to understand your ROI. Measures for a Social Media Marketing Program • Measure increase in fans from viral marketing activities • Track prospect conversions to customers • Analyze new customer revenue • Evaluate return on investment (ROI)Social Marketing Advisors – Copyright 2012 16
  17. 17. Evaluate Future ROI• Determine the net income generated by viral marketing techniques that grow your revenues• ROI Measure #1: Compare the short-term (6 month) probable net income with the SMMP investment• ROI Measure #2: Compare the long-term “lifetime customer value” with the SMMP investment  Short-Term ROI greater than 30% of program investment  Long-Term ROI greater than 400% of program investmentSocial Marketing Advisors – Copyright 2012 17
  18. 18. Effective Use of Social Media
  19. 19. Facebook: Effective Social Media UseSocial Marketing Advisors – Copyright 2012 19
  20. 20. Facebook: Example Offers PostedFans react tooffers and posttheir opinions Social Marketing Advisors – Copyright 2012 20
  21. 21. Facebook: Example Posting on News FeedBusiness promotionsappear on News Feedwith link to companywebsite. No costpromotional method,however it needs “fans”to view the posting.Social Marketing Advisors – Copyright 2012 21
  22. 22. Facebook: News Feed When logging in to Facebook the first thing seen is the News Feed with postings from friends and businesses like yours that have been “liked”.Social Marketing Advisors – Copyright 2012 22
  23. 23. Developing YourSocial Media Marketing Program
  24. 24. To learn more about developing yoursocial media marketing program, please contact: Jeff White Social Marketing Advisors info@SocialMarketingAdvisors.netSocial Marketing Advisors – Copyright 2012 24