How to Leverage Social Media to Generate Revenue

HOW TO LEVERAGE SOCIAL MEDIA TO GENERATE REVENUE

TABLE OF CONTENTS
WHY SOCIAL MEDIA? EXECUTING YOUR PLAN CHOOSE YOUR CHANNELS PARTICIPATE MEASURING REVENUE

WHY SOCIAL MEDIA?

How Marketing is changing…
OLD: OUTBOUND MARKETING
Telemarketing
Direct Mail
TV/Radio
Print Ads

How Marketing is changing…
NEW: INBOUND MARKETING
Blogs
Social Media channels
Search (SEO & SEM)
RSS & Email Subscriptions

INBOUND MARKETING = being found by those looking for your products or services

Why Use Social Media?

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

93% of Americans believe a company should have a social media presence

Social Media Benefits

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

73.8% say social media has helped them close business

Define your Goals

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)

Start with a Plan

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

Define Your Audience

Define Your Audience
Niche groups
Channels they use
Business Setting/Company
Roles/Positions
Demographics
Psychographics
Location
Current relationship

Create Guidelines and Schedules

Guiding Principles

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

EXECUTING YOUR PLAN

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?

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

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

ENTRY-LEVEL TOOLS:
Trackur (trackur.com)
ViralHeat (viralheat.com)
Sysomos Heartbeat (sysomos.com)
UberVU (ubervu.com)

SOPHISTICATED TOOLS:
Radian6 (radian6.com)
Sysomos (sysomos.com)
LIthium (lithium.com)
Alterian SM2 (alterian.com)

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)

CHOOSE YOUR CHANNELS

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.

Blogs
BENEFITS:
Generate awareness
Establish brand and thought leadership
Engage your audience
Share content
Generate qualified leads
Customer retention

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

Twitter

Twitter
BENEFITS:
Establish yourself as a thought leader
Frequently engage your audience
Meet like-minded professionals
Find your audience with Twitter search
Create buzz
http://search.twitter.com/advanced

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.

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

Facebook

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)

Facebook
GENERATE REVENUE:
Strengthen customer relationships
Identify Influencers
Generate Opt-ins
Generate Sales
Average value of a fan is $3.60

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

Linkedin
BENEFITS :
Professional, educated audience
Resource for recruiting, talent acquisition
Updates from other channels (Twitter, Blogs, Slideshare, etc.) posted to your network

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

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

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

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

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

PARTICIPATE

Create Conversation and Engage

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.)

Maintain Your Channels
Be Original
Be Helpful
Be Passionate
Be Respectful
Be a Motivator
Be a Leader

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

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

MEASURE

MEASURE: Awareness
Social mentions
Fans/followers/friends
Web site traffic
Search rankings
Reach

MEASURE: Lead Generation
Opt-Ins/database growth
Offer redemptions
Repeat visits
Inquiries

MEASURE: Retention
Increase in positive sentiment
Increase in feedback (comments, mentions, etc.)
Decrease in churn rate
Reduction in support channels

GENERATE REVENUE

These things do not make you money:
Visits
Impressions
Comments
Mentions
Number of followers
Number of likes
Re-tweets
Click-throughs

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

MEASURE: ROI
84% of social media professionals DO NOT measure ROI

THE ROI EQUATION
ROI = SM return - SM cost SM cost

MASS TRANSMIT

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

PRESENTATION
A copy of this presentation can be viewed or downloaded at Slideshare: http://slideshare.net/ masstransmit

THANK YOU
Adam Q. Holden-Bache 8701 Mallard Creek Dr. Charlotte, NC 28262 704-706-2670 x200 [email_address] Twitter: @adamholdenbache

How to Leverage Social Media to Generate Revenue

by Mass Transmit on Jun 02, 2011

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How to Leverage Social Media to Generate Revenue Presentation Transcript