Implementing a Social Media Strategy for Small Business

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This presentation was given at a lunch and learn event with Vancouver's Board of Trade on March 23rd, 2011 at the Pan Pacific Hotel in Vancouver.

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  • @Kemp Edmonds Thank you for answering my question. It is somehow clear to me now and as it appears Social media ROI cannot be measured, but still I believe that it is a good medium to market a business, product or brand.
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  • The Definition of Social Media ROI?

    ROI = Return on Investment. It’s an economic term used to justify expenditure and legitimize business unit operations. Wikipedia = 'used to evaluate the efficiency of an investment in finance and economics'

    Social Media ROI is the value or return on investment of the use of social media tools. The typical question is. 'What is the ROI of Social Media?' People asked the same questions of the website.

    Social Media is a communications medium like a telephone it’s direct ROI to your business is difficult to measure. You can do extreme calculations and spend lots of time doing it, but it’s pointless.

    I recommend Olivier Blanchard’s book aptly named: Social Media ROI. He goes through the whole gambit of benefit to your business or organization for this type of thing. It’s on Kindle for like $10.

    Social Media ROI to me is a misnomer. Wikipedia = A misnomer is a term which suggests an interpretation that is known to be untrue.

    Cheers on the learning trail. The best thing to do is practice/do and measure/analyze. Try Landing pages, A/B testing. Try helping people randomly through tools like Twitter. Try, try, try then see the ROI... Blog post....
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  • Social media marketing is indeed a brilliant strategy not only to large companies but most especially to small businesses. Since you have mentioned about social media ROI, can you share your own definition of it? I was encountering the word but the definitions most author provided seems confusing.
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  • Social Media strategy seminar I attended at the Vancouver Board of Trade. Great starting point for all sizes of business to get involved in social media.
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Implementing a Social Media Strategy for Small Business

  1. 1. Implementing a Social Media Strategy for Small Business<br />By: Kemp Edmonds<br />This presentation is available now: j.mp/kempvbot<br />
  2. 2. Let’s Talk<br />Background – Grounding<br />Developing Strategy<br />Implementation<br />The ROI conundrum<br />Questions & Connections<br />
  3. 3. It’s young. It’s growing.<br />50% of Americans have an account on <br />8% of online Americans use<br />4% are using location based services like…<br />Sources:<br />InsideFacebook.com (US) Feb. 2011<br />Pew Internet Research (US) Feb. 2011 <br />Pew Internet Research (US) Nov. 2010<br />
  4. 4. Nearly 100% of online users…<br />Use email<br />Use a web browser<br />Use web search<br />
  5. 5. Important Questions<br />Does your organization have email communications?<br />Is your website ready to receive and convert?<br />Do you have a company blog?<br />Do you have positive customer testimonials?<br />Do you have a great product or service?<br />Social Media often comes last and should.<br />
  6. 6. Social Media is not…<br />
  7. 7. It is…<br />
  8. 8. Develop Your Strategy<br />
  9. 9. Research - Take the temperature:<br /><ul><li> Ask existing customers about communications
  10. 10. Evaluate and observe competitors activities
  11. 11. Follow industry leaders and evaluate</li></li></ul><li>Survey the Scene<br />Ask your customers<br />Ask frontline employees<br />Ask co-workers<br />Ask competitors<br />Ask everyone<br />
  12. 12. Two Strategic Frameworks<br />POST <br />People: Assess your customers’ social activities<br />Objectives: What do you want to accomplish<br />Strategy: Plan for how relationships will change<br />Technology: Decide on your social technologies<br />
  13. 13. 12<br />The Inside-Out Strategy<br />
  14. 14. 13<br />Begin with Goals…<br />
  15. 15. 14<br />...From Goals Stem Objectives<br />
  16. 16. 15<br />...Then Measures of Success<br />
  17. 17. Last comes the execution<br />
  18. 18.
  19. 19. Provide Value<br />Think bigger than your products and service<br />Think of your customers’ lifestyle<br />Provide value around your products and services<br />
  20. 20. Find your social media voice<br />Avoid the Grand<br />
  21. 21. Responsibility & Scheduling<br />Who is responsible for posting content and responding?<br />How often will you post? Schedule it.<br />
  22. 22. Listening Kit - Email Alerts<br />Google Alerts<br />Social Mention<br />TweetBeep<br />Tweak your searches…<br />
  23. 23. Cradle to Grave Tracking<br />kempe.me/kempslides <br />
  24. 24. Schemap<br />
  25. 25. One tool to rule them all.<br />
  26. 26. Are we asking the right questions?<br />
  27. 27. What’s the ROI of your phone?<br />
  28. 28. Social Media ROI<br />
  29. 29.
  30. 30. Thank you!<br />Connect:<br />kempedmonds.com<br /> @kempedmonds<br />kempedmonds@gmail.com<br />Learn:<br /> Social Media Master Class – May – http://j.mp/smmc01<br /> Intro to Social Networking – http://bcit.ca/mdia1045<br />This presentation:<br />
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