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What is social media and why should you care
 

What is social media and why should you care

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    What is social media and why should you care What is social media and why should you care Presentation Transcript

    • What is Social Media / Social Networking?And Why Should You Care?Mike Ellsworth
    • About ME• Started as a cancer newsletter editor• 15 years at Nielsen Co.• 1 year with an Internet incubator (2000-2001)• 6 years as IT strategy consultant• 3.75 years at State of Minnesota – Program Director of CareerOneStop• But here as a citizen and entrepreneurCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • About ME• 6 years as IT strategy consultant – Started StratVantage Consulting in 2000 – Started CTOMentor in 2002 – Started The WiMAX Guys in 2003 – Joined startup Evalubase Research as CTO 2004 – Working currently with two startups – Starting social media strategy consultancy Social Media Performance Group with two partnersCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved 3
    • What Social Media Is NotSocial Media is Not:• A Fad• For Kids• About New Channels to Push Messages• About the Tools• About the Techniques• A Numbers Game• A ReplacementCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • What Social Media IsSocial Media is:• Relevant to business• For Everyone• About Creating Conversations• About Strategy• About Planning and Execution• About Creating Relationships• A Supplement to Existing TechniquesCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media Approach - ToolsCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media Approach – Strategic Copyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media in BusinessTypical Social Media Application Areas:• Marketing• Branding Find• Sales Be Listen Found Enterprise Grow Engage Business InfluenceCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media in the EnterpriseOther Great Places to Use Social Media:• Customer Service• Product Development• Employee Engagement• Knowledge Management• Crisis CommunicationsCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media Success StoriesSales - Trissential and Cargill• $12M vs. $120B• Local vs. Global• Told not to waste time trying to become a vendorCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media Success StoriesSales - Trissential and Cargill• Sales guy connected with Cargill employees on LinkedIn• Met with these contacts when there was no opportunity in sight• One day, Cargill contacted him to meet• 9 months of social networking produced sales agreement with CargillCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media Success StoriesBest Buy “Blue Shirt Nation”• Thousands of hourly employees• How to connect rank and file with overall company strategy?• Blue Shirt Nation was skunk works, now involves >10 percent of workforce• Executives use it: – To find out what is going on with the hourly employees – To improve customer service and employee satisfaction Copyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • A Different Approach TRADITIONAL MEDIA SOCIAL MEDIA Space defined by Media Owner Space defined by Consumer Brand in control Consumer in control One way / Delivering a message Two way / Being a part of a conversation Repeating the message Adapting the message Focused on the brand Focused on the consumer / Adding value Entertaining Influencing, involving Company-created content User-created content / Co-creationSource: Neil Perkin Copyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Online Goals• Top Goals for Online Networking – Create a community of contacts who can recommend you and connect you – Conduct research on customers and prospects – Expand your business to new markets – Create a higher profile and build your brandCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Let’s Face It• People are talking about you online• >9 million blogs - 40,000 new / day• Facebook >65 billion page views / month• Nielsen Online: Social networks and blogs 4th most popular online activity – beating email!• Online communities visited by 67% of global online populationCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Let’s Face It• Do you ignore the conversation?• Or join in?Copyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Attract vs. PursueCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Who’s Going to Do It?• You• Your sales force• Your employees – Kind of scary – Very, very effectiveCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • How to Do It• Emphasize Return On Engagement, not ROI – It takes time to see results – Invest the time• Not a numbers game, a quality of interaction gameCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • How to Do It• Emphasize Share of Conversation – The degree to which a brand is associated with the problem or need that it is setting out to help with – The percent of all people talking about a problem that are talking about youSource: Marcel LeBrun, The Media PhilosopherCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Others Are SpendingCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • And Seeing ResultsCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Return On Engagement“Do you want to pay X for a 30-second spot passively watched by 2 million prospects; or a Web experience [ . . .] where 500,000 engage with the brand for seven minutes, then use Word of Mouth (WOM) to pass along their experience?”— Mike Valentino, CEO of TMPG Inc.Copyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Online, Think 4C’s Not 4P’s• Product, Pricing, Place and Promotion still important – of course!• Add Content, Context, Connection, and CommunityAdapted from John Jantsch of Duct Tape MarketingCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Types of Online Marketing Source: Social Media Marketing Industry Report, Michael A. StelznerCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Branding Your Business Online • All your online marketing efforts should drive traffic to your Web page • Your Web page needs to be optimized • Must have a call to action • Must clearly describe your business • Must enable users to bookmark, tag, or email your URL to a friend Social bookmarking toolbar at: http://www.socialmarker.com/Copyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Creating Evangelists• Give your online supporters tools to identify themselves – Avatar symbols for Twitter – Badges for Websites and social network profiles – Mailing lists for them to join – Fan pages and groups at social networks for them to join – Stickers, T-shirts, badges, other trinketsCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • What Creates Word of Mouth?• A good experience, says Forrester• A trustworthy relationship with peers, says Big Research• A purple cow, says Seth Godin Source: Ben McConnell and Jackie Huba, www.churchofthecustomer.com/Copyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Social Media SWOT Team• Strengths – What are your online strengths? What is your online brand?• Weaknesses – What are your online weaknesses? How to remedy?• Opportunities – What is your competition not doing?• Threats– What is your competition doing?Copyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • On Beyond the Big 3• There are thousands of social media networks• Chances are good you can find one you’ll likeCopyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • Copyright © 2010, StratVantage Consulting, LLC. All Rights Reserved
    • The Entrepreneur’s Challenge• Most ventures fail within 5-7 years• Most ventures don’t even get off the ground• Your compensation can vary, drastically• Be ready to work very, very hard• Be ready to put your money (debt) where your mouth is• Network like crazy• Only work with those as committed as you areCopyright © 2010, Social Media Performance Group, Inc. All Rights Reserved
    • Thank You! More In-Depth Training from Social Media Performance Group – Linked In or Left Out: Using LinkedIn and Twitter to Find a Job – 3-hour Workshop – Using Social Media for Business – 90-minute Webinar – Using Social Media for Recruiting – 90-minute WebinarCopyright © 2010, Social Media Performance Group, Inc. All Rights ReservedCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Thank You! – You are welcome to connect with me: – Mike Ellsworth – Twitter: @MikeEllsworth – LinkedIn: www.LinkedIn.com/in/MikeEllsworth – Facebook: www.facebook.com/MichaelJEllsworth – Google Mike Ellsworth and check the bottom of the first page – MikeEllsworth@LinkedInSolutions.com – 952-373-1006Copyright © 2010, Social Media Performance Group, Inc. All Rights ReservedCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved
    • Thank You! – Linked InSolutions Facebook Page: bit.ly/mRREZ – Social Media for Job Search LinkedIn Group: bit.ly/otzeF – StratVantage Consulting LinkedIn Page: bit.ly/5ayeF – Linked InSolutions Page: www.LinkedInSolutions.com – Mike Ellsworth’s Blog: www.FutuRANT.comCopyright © 2010, Social Media Performance Group, Inc. All Rights ReservedCopyright © 2009, StratVantage Consulting, LLC. All Rights Reserved