Social media & brand managementPresentation Transcript
Social Media &Brand ManagementMirza Shakeel Baig
Social Media Defined Internet-BasedTools For Sharing & DiscussingInformation Among Human Beings. oxiem.com
Social Media Strategy The Old Way Shout! oxiem.com
The Shout Method
Old Marketing Funnel Source: Forrester Research
Social Media Strategy The New Way Listen oxiem.com
Facilitate the Conversation
New Marketing Funnel
Social Media Strategy It’s HappeningWhether you Participate or Not
Social Technographics Ladder Source: Forrester Research
Social Technographics Ladder
Benefits of using Social Media
Ways in which Social Media can help your business: Sales Net New Customers, Increased Frequency of Transactions, promo exposure Increased yield (average $ value per transaction), and product penetration Customer Support Immediate feedback and response, positive impact in public forum, cost reduction Human ResourcesMore effective recruiting, online monitoring of employee behavior (risk management) Public Relations Online Reputation Management, improved brand image via Social Web Customer LoyaltyIncreased interactions, better quality of interactions, deeper relationship with brand, Increased trust in brand, increased mindshare of brand, greater values alignment Business Intelligence
People interact with their favorite brands on Facebook far more than other social networks 34% 4% 1% Did You Know? 56% of those under 35 interact with theirOnline community/forum/bulletin board 9% favorite brands onBlogs 4% FacebookMySpace 1%Other 2%None of these 59% Base: Those who go online ● Q31. What social networking sites do you use to interact with your favorite brand(s)?
Engagement is real: 78% of people who “like” brands on Facebook like fewer than 10 brands Number of Brands Fanned on Facebook35% 33%30% 25%25% 22% 20%20%15%10%5%0% 1-2 3-4 5-9 10+ Base: Those who are fans of brands on Facebook ● Q32a. Approximately, how many brands are you a fan of?
Harnessing “People Streams”
Steps to Follow Goal & Monitor &Discovery Engagement Objective Measure
Goal & Monitor & Discovery Engagement Objective MeasureCustomers• What are they doing on social media• Why they use it• What do they useCompetitors• Are they using social media• What are their objectives• Are there untapped opportunitiesBrand• What is brand’s current online perception• Are there opportunities to connect
Goals & Objectives Customer Awareness New Ideas Service Research & Market Reach New Intelligence Customer ThoughtLeadership Goal & Monitor & Discovery Engagement Objective Measure
Responding to the public Responding to your audience comes in 2 forms: 1. Conversational Responses (chat)Your website 2. Informational Responses (link) Either way, never argue, always be helpful, don’t Ever become defensive.
Responding to the public Engagement PR
Some thoughts about ROI and measurement Measurement & Accountability Goal & Monitor & Discovery Engagement Objective Measure
. . .RETURN ON INVESTMENT
THE R.O.I. EQUATIONInvestment Expectation of return
THE R.O.I. EQUATION (GAIN FROM INVESTMENT - COST OF INVESTMENT)ROI = COST OF INVESTMENT
Non-financial impact is not ROI (yet).
Types of non-financial impactWebsite Visitors Customer complaints Impressions Positive press Click-throughs YouTube viewsRetweets Coupons distributed Visitors to a brick & mortar store Positive WOM Delivered emails Negative pressNegative WOM Employment applications Blog comments FaceBook friends Social mention Twitter followers
ROI = actualized potential.
Non-Financial Measurement & Accountability 1. Set Goals 2. Set Standards 3. Set Milestones 4. Pick the right measurement tools for the jobExamples of free tools:Track website visits Track the growth of your Twitter Account Track online mentionsMonitor visitor behavior Monitor your Twitter stats Compare mentions http://www.google.com/analytics/ http://twittercounter.com/pages/dashboard_info http://www.blogpulse.com/trend Track video downloads Track FB & LinkedIn group members Track video embeds Track blog visitors & comments Track offline numbers and results
• Social media by Veronica Peng• www.vujade.com (facebook and google financials)• An insight to social media (Omllion)• Twitter vs, facebook• Thanks to the contributors at Flickr• Google Search• The world is in your hands - Hristo Radichev