How to Leverage Social Media to Generate Revenue

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The presentation "How to Leverage Social Media to Generate Revenue" provides details on how businesses can establish social media best practices and use social media to achieve business goals …

The presentation "How to Leverage Social Media to Generate Revenue" provides details on how businesses can establish social media best practices and use social media to achieve business goals including increasing revenue.

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  • Better understand your audience Decrease the duration of the sales cycle
  • Better understand your audience Decrease the duration of the sales cycle
  • 85% of all marketers say social media has generated exposure for their business More than half say social media has generated qualified leads 53.1% reported new business partnerships due to social media 73% cite improved search engine rankings due to social media 56% of users feel a stronger connection with companies they interact with through social media

Transcript

  • 1. HOW TO LEVERAGE SOCIAL MEDIA TO GENERATE REVENUE
  • 2.
    • TABLE OF CONTENTS
    WHY SOCIAL MEDIA? EXECUTING YOUR PLAN CHOOSE YOUR CHANNELS PARTICIPATE MEASURING REVENUE
  • 3.
    • WHY SOCIAL MEDIA?
  • 4.
    • How Marketing is changing…
    • OLD: OUTBOUND MARKETING
    • Telemarketing
    • Direct Mail
    • TV/Radio
    • Print Ads
  • 5.
    • How Marketing is changing…
    • NEW: INBOUND MARKETING
    • Blogs
    • Social Media channels
    • Search (SEO & SEM)
    • RSS & Email Subscriptions
  • 6. INBOUND MARKETING = being found by those looking for your products or services
  • 7.
    • Why Use Social Media?
  • 8.
    • Why Use Social Media?
    • Your audience is there
    • Cost efficient
    • Vast reach
    • Increase interaction frequency
    • Receive real-time feedback
    • Establish your social media real-estate
    • Gain competitive intelligence
    • Better understand your audience
    • Help your audience
    • It’s fun
  • 9. 93% of Americans believe a company should have a social media presence
  • 10.
    • Social Media Benefits
  • 11.
    • Social Media Benefits
    • Increase brand awareness
    • Create and cultivate relationships
    • Identify prospects
    • Generate leads
    • Client/customer retention
    • Reduce marketing spend
    • Generate inbound traffic
    • Search engine optimization
    • Build reputation and credibility
    • Gain competitive advantage
  • 12. 73.8% say social media has helped them close business
  • 13.
    • Define your Goals
  • 14.
    • Define your Goals
    Before you get started, define the goals for your business or organization:
    • Awareness
    • Lead Generation
    • Increase Sales
    • Customer Retention
    • Customer Service/Support
    • HR/Hiring
    • Event Marketing
    • Feedback (Focus Group/Crowdsourcing)
  • 15.
    • Start with a Plan
  • 16.
    • Start with a Plan
    • Get the right people involved
    • Identify and Coordinate Resources
      • Channel Management Time
      • Content Production
      • Response Routing
      • Fulfillment
    • Identify how you plan to measure success
    • Create your Strategy
    • Obtain internal approval/support
      • Marketing/PR
      • Customer Service/Support
      • IT/Web Developers
      • Senior Management
  • 17.
    • Define Your Audience
  • 18.
    • Define Your Audience
    • Niche groups
    • Channels they use
    • Business Setting/Company
    • Roles/Positions
    • Demographics
    • Psychographics
    • Location
    • Current relationship
  • 19.
    • Create Guidelines and Schedules
  • 20.
    • Guiding Principles
  • 21.
    • Guiding Principles
    • Align with business goals
    • Be human - use a personal voice
    • Be authentic - stay true to your brand, admit mistakes, say thank you
    • Learn through action
    • Share - the point of social media is sharing (ideas, information, expertise)
    • Add value
    • Build trust (don’t pitch, just help)
    • Have fun
  • 22.
    • EXECUTING YOUR PLAN
  • 23.
    • Listen
    • What is being said?
    • Who is saying it?
    • Where are they saying it?
    • Is it positive or negative?
    • How much reach or impact does it have?
  • 24.
    • Listen
    • What to listen for:
    • Company or brand name
    • Product or service names/terms
    • Names of executives or top talent
    • Competitors rand names
    • Competitor product/service names
    • Industry keywords/phrases
  • 25.
    • Listening/Monitoring Tools
    • FREE TOOLS:
    • Google Alerts (google.com/alerts)
    • Social Mention (socialmention.com)
    • Twitter search (search.twitter.com)
    Tip: subscribe to a Twitter search result or Social Mention alert via RSS
  • 26.
    • Listening/Monitoring Tools
    • ENTRY-LEVEL TOOLS:
    • Trackur (trackur.com)
    • ViralHeat (viralheat.com)
    • Sysomos Heartbeat (sysomos.com)
    • UberVU (ubervu.com)
  • 27.
    • Listening/Monitoring Tools
    • SOPHISTICATED TOOLS:
    • Radian6 (radian6.com)
    • Sysomos (sysomos.com)
    • LIthium (lithium.com)
    • Alterian SM2 (alterian.com)
  • 28.
    • Social Media Management Systems (SMMS)
    • WHAT IS AN SMMS?
    • A SMMS is a tool that allows you to manage, monitor and measure your social media activity in one place.
    • A SMMS can help you:
    • Publish content to multiple social channels
    • Schedule and automate content delivery
    • Monitor and review social media activity
    • Manage internal resources/workflow
    • Manage resource permissions
    • Review metrics and reporting
    • SMMS OPTIONS:
    • HootSuite (hootsuite.com)
    • Argyle Social (argylesocial.com)
    • Spredfast (spreadfast.com)
    • Awareness Social Marketing Hub (awarenessnetworks.com)
  • 29.
    • CHOOSE YOUR CHANNELS
  • 30.  
  • 31.  
  • 32.  
  • 33.
    • Blogs
    Blogs are widely considered the cornerstone of all social marketing efforts. Nearly all of your social media efforts will point back to your blog.
  • 34.
    • Blogs
    • BENEFITS:
    • Generate awareness
    • Establish brand and thought leadership
    • Engage your audience
    • Share content
    • Generate qualified leads
    • Customer retention
    • Search engine optimization
  • 35.
    • Blogs
  • 36.
    • Blogs
  • 37.
    • Blogs
  • 38.
    • Blogs
  • 39.
    • Twitter
    • STATS :
    • 200 million registered users
    • 65 million tweets per day
    • 75% of traffic sourcing from outside applications
    • Adding 300,000 new users daily
    • 93% of social media marketers are using Twitter
    • 85% of large businesses will be increasing their Twitter activities
    • 87% of Americans familiar with Twitter in 2011, up from 5% in 2008
  • 40.
    • Twitter
  • 41.
    • Twitter
    • BENEFITS:
    • Establish yourself as a thought leader
    • Frequently engage your audience
    • Meet like-minded professionals
    • Find your audience with Twitter search
    • Create buzz
    • Search engine optimization
    http://search.twitter.com/advanced
  • 42.
    • Twitter
    • GENERATE REVENUE:
    • Gain competitive intelligence
    • Generate leads
    • Market products, services (offers, product launches, etc.)
    • Great for event marketing
    IBM used Twitter to generate 40% of their event registration goals within 72 hours.
  • 43.
    • Facebook
    • STATS :
    • 175 million people visit Facebook every day
    • Facebook tops Google for weekly traffic in the US
    • If it were a country, it would be third largest in the world (only behind China & India)
    • 85.4% of large businesses plan on increasing Facebook activity
    • 1/3 of all Facebook users are in the US
    • The average user has 130 friends
  • 44.
    • Facebook
  • 45.
    • Facebook
  • 46.
    • Facebook
    • BENEFITS :
    • Huge, dedicated audience that checks in regularly
    • When content goes viral it has significant reach
    • Confirm your key audience
    • Great environment to build your brand
    • Easy channel for feedback (likes) and conversation (comments)
  • 47.
    • Facebook
    • GENERATE REVENUE:
    • Strengthen customer relationships
    • Identify Influencers
    • Generate Opt-ins
    • Generate Sales
    • Average value of a fan is $3.60
  • 48.
    • Linkedin
    • STATS :
    • Over 100 million professionals
    • 50% are business decision makers
    • 7.8% are C-Level Executives, 6.5% are EVP/SVP
    • Average age of 41, HHI of $110k
    • 80% College Grad/Post Grad
  • 49.
    • Linkedin
    • BENEFITS :
    • Professional, educated audience
    • Resource for recruiting, talent acquisition
    • Updates from other channels (Twitter, Blogs, Slideshare, etc.) posted to your network
  • 50.
    • Linkedin
    • GENERATE REVENUE :
    • Take advantage of Groups- create and participate
      • Identify prospects within groups
    • Find prospects through search, people you may know and connections
    • Follow companies (track your competition)
    • Ask questions in Answers area
  • 51.
    • YouTube
    • STATS :
    • Over 20 hours of video uploaded every minute
    • 135 million viewers watched 13.1 billion YouTube videos in March 2010 (96 videos/viewer)
    • 84.8% of total U.S. Internet audience watch online video
    • YouTube generates 90% of online video consumption
    • YouTube Search is the world’s 2nd largest search engine
    • 73% of marketers plan on increasing YouTube/video marketing
  • 52.
    • YouTube
    • BENEFITS :
    • Video is engaging and averages longer interaction than other media
    • Video content is easily sharable
    • YouTube offers great statistical data on video effectiveness
    • Video meta data is great for SEO (Google owns YouTube)
    • Channels allow you to create a network and easily share video content with them
  • 53.
    • GENERATE REVENUE :
    • Increase exposure of brand/products/services
    • Generate leads: Demonstrate products and services with videos, link to your site
    • Speed up sales cycle: enrich sales content with YouTube videos
    • Accept direct ads on your YouTube content
    YouTube
  • 54.
    • Slideshare
    Slideshare is the world’s largest community for sharing presentations, documents and PDF files.
    • BENEFITS:
    • 25 million unique visitors
    • 70 million page views/month
    • 62% college degree, 19% masters or PhD
    • Presentations can be embedded on your site/blog
    • Options for sharing privately
    • Join groups to share based on interests
  • 55.
    • PARTICIPATE
  • 56.
    • Create Conversation and Engage
  • 57.
    • Create Conversation and Engage
    • What to share via social media:
      • Content that will benefit your contacts (blog posts, videos, webinars, etc.)
      • Unique industry news and information
      • Your thoughts/positions on relevant industry content
      • Responses to others sharing relevant information
      • Questions that other experts can answer
      • Talk about yourself/your business less than 10% of the time (press releases, company news, product/service announcements, etc.)
  • 58.
    • Maintain Your Channels
    • Be Original
    • Be Helpful
    • Be Passionate
    • Be Respectful
    • Be a Motivator
    • Be a Leader
  • 59.
    • What Not To Do
    • DON’T only talk about yourself/your business
    • DON’T oversell
    • DON’T force it
    • DON’T be inconsistent in approach or timing
    • DON’T do anything that doesn’t help achieve goals
  • 60.
    • Marketing Your Social Media Channels
    Add your social media channels to your online and offline communications/collateral
    • Emails
    • Web Site
    • Direct Mail
    • Ad Units
    • Packaging
    • Business Cards
    • Print Ads
    • Radio/TV
  • 61.  
  • 62.  
  • 63.
    • MEASURE
  • 64.
    • MEASURE: Awareness
    • Social mentions
    • Fans/followers/friends
    • Web site traffic
    • Search rankings
    • Reach
  • 65.
    • MEASURE: Lead Generation
    • Opt-Ins/database growth
    • Offer redemptions
    • Repeat visits
    • Inquiries
  • 66.
    • MEASURE: Retention
    • Increase in positive sentiment
    • Increase in feedback (comments, mentions, etc.)
    • Decrease in churn rate
    • Reduction in support channels
  • 67.
    • GENERATE REVENUE
  • 68.
    • These things do not make you money:
    • Visits
    • Impressions
    • Comments
    • Mentions
    • Number of followers
    • Number of likes
    • Re-tweets
    • Click-throughs
  • 69.
    • MEASURE: ROI
    • SEO improvements generated additional web traffic
    • Generated 250 leads via whitepaper download
    Blogging ROI Social Medium
    • 20% increase in service inquiries
    • 50 new opt-ins
    Slideshare
    • 50 product sales originated from YouTube.com
    • Generated 100 new opt-ins
    YouTube
    • Reduced costs of talent acquisition by 50%
    • Helped find targeted audience at $0 cost
    LinkedIn
    • Webinar attendance up 20%
    • Event sold-out due to 150 Facebook fans signing up
    Facebook
    • 10% of new web sales attributed to site traffic from Twitter click-throughs
    • Customer Service calls down by 20%
    Twitter
  • 70.
    • MEASURE: ROI
    84% of social media professionals DO NOT measure ROI
  • 71.
    • THE ROI EQUATION
    ROI = SM return - SM cost SM cost
  • 72.
    • MASS TRANSMIT
  • 73.
    • HOW MASS TRANSMIT CAN HELP
    Mass Transmit - multi-channel Internet marketing agency Email Transmit - email service provider (ESP) Group Transmit - social sharing application @MassTransmit @EmailTransmit Facebook.com/MassTransmit LinkedIn.com/companies/Mass-Transmit
  • 74.
    • PRESENTATION
    A copy of this presentation can be viewed or downloaded at Slideshare: http://slideshare.net/ masstransmit
  • 75.
    • THANK YOU
    Adam Q. Holden-Bache 8701 Mallard Creek Dr. Charlotte, NC 28262 704-706-2670 x200 [email_address] Twitter: @adamholdenbache