Social media How well we do it?Presentation Transcript
What is social media?Why social media?How to implement?Who is doing it right?
so· cial me· a di·Online gathering of interaction, ideas, comments and commentary. Essentially, consumer conversation in cyberspace.
More simply put: “Social media is people having conversations online.”
IntroductionSocial Influence Marketing (SIM) is about employing social media and social influencers to achieve the marketing and business needs of an organization.
Measuring SIM Business Justification:R.O.I.RETURN ON INVESTMENT
THE R.O.I. EQUATION Social MediaInvestment Expectation of return
Return On Investment DigitalDigital Recog- More Inter- Sale W.O.M.Action nition Sales actionReturn On Interaction + Return On Influence A more realistic way to access value
Now, social media is…
Paid Earned Owned Social Media Brand and ProductInternet Advertising (Pages and Feeds) Websites PPC – Search Mobile Brand and Word of Mouth Marketing Product Websites Proprietary MobileMobile Advertising User Forums Applications News, PR, Customer Care Sponsorships Announcements Services Blogger ProprietaryPaid Applications Relationships Digital Content
Social media is the ongoingconversation of the planet.”
The conversations are powered by: Photo Blogging Sharing Video Micro Sharing Blogging Key Podcasts Social RSS Platforms Message Widgets Boards Chat Social Rooms Networking
Social Media Tools (just to name a few)
Active Worldwide Users500,000,000 +Pieces of content sharedper month45,000,000,000Local business withactive Facebook pages1,500,000
Professional Social Network Contains profiles of Fortune 500 executives and leading entrepreneurs Average individual salary on LinkedIn is $109,000
Wiki =quick Studies show it’s as accurate as Encyclopedia BritannicaIf you were paid $1 for every article posted on you would earn $1,712.32 PER HOUR
Registered Users156,000,000 +Updates per month54,000,000 +Users following a brand31%Brand recommendationsper month7,800,000 +
Business Objective:Improve customer servicePromote a product or serviceManage and respond to a crisisEvent activationAdvocate an issue or cause
Why Social Media?
In 2008, if you are not ona social networking site,you are not on the internet.”Iab platform status report: User generated content, Social media, and advertising– An overview, April 2008
It’s not a fad.It’s a fundamentalshift in the waywe communicate.
Reason #1 “We don’t have a choice onwhether we DO social media, the question is how well we DO it.” Erik Qualman
500BILLION.The number of peerinfluence impressionsAmericans generate peryear via social media.
Today people are connected
4 Billion.That’s 13x more than the National Library . The number of images hosted on Flickr.
95%Companies usingLinkedIn to findand attractemployees.
Welcome toThe World ofSocialomics
Reason #2 78% of people trust the recommendations of other consumers. Nielsen “Trust in advertising” reportWhile only 14% of people trust advertisements.
14% VS. 78% HMM…
The old communication modelwas a monologue.
The new communication modelis a dialogue.
Only 18% ofTV ad campaignsgenerate positiveROI.
90% ofpeople whocan skip TVads, do.
The average person is exposed to 3000 advertising messages/day
Reason #3 Social media ”is only going to becomepersuasive and as such,become a critical factorin the success or failure of any business.” Brian Solis, Social Media Manifesto
How many social media usersturn to social media whenmaking purchase decisions? By listed product, service category, and frequency Regularly turn to social media Sometimes turn to social media
By 2010, Millennials/Gen Y-ers will outnumberBaby Boomers.They already wield$350 Billion/ year indirect spending power.
Millennials spend>16 hours/weekonline.96% of them havejoined a social network.
They have an average of53 online friends. Acquaintances Online Friends 51% 38% Close Friends 11%
And they don’t careabout your Ads.They carewhat theirfriends think.
Translation:The train is leaving the station.WITH or WITHOUT YOU.
How do Iget onthe train
Learn AboutYour Audience Who/Where are they?What is their personality like?How/Where do they consume? How/Where do they engage?
The Importance of WordsTreat this part very seriously. It is a myth that successful communication relies mainly on delivery style. What you say is just as important as how you say it.
Certain words have great psychological impact on us. Theyaddress our basic human desires and our emotional needsand wants. They compel us to pay attention and take action.Successful copywriters use certain words to add persuasivepower to their ads.
DescriptionSpecificity can result from descriptive language.Which dessert would get your attention faster? Something described as “A sinful combination of bourbon-soaked vanilla beans and fresh raspberries with a chocolate ganache surprise”. Something described as “Chocolate Dessert”. Get your audience salivating
ClarityAvoid vague, nebulous corporate-speak. Nothing puts an audienceoff more than uncommitted,detached phrases.
AuthenticityMuch of the language in corporations today is clichéd,vague, and pretentious. When speaking, be concise,clear, and authentic – get to the human side of language.
Call to actionIf you end with a call to action, make it clear and specific.Your audience should know exactly what they are called todo and have reasons for taking that course of action.Leave the participants with a memorable comment orquestion that ties directly back to your main point.
Leave Them Wanting More Most messages should end in such a way thatparticipants are inclined to crave more informationyou may share with them later. When appropriate, leave the audience at a climax: promise that in a future message you will provide additional useful information. The human brain seeks closure. Participants will be inclined to return to something that has not been solved completely.
Use Your ChannelsTo Engage And Drive Traffic
Make Social Media Work forYour Company
Social Marketing Compass
Who isdoing it RIGHT?
Who isdoing it RIGHT
By the end of 2009, Dell had generated $6.5 millionin sales from Twitter alone.
Who isdoing it RIGHT
On April 8th, 2008,Frank Eliason set upa Twitter account to help Comcast users in need. Since then, Comcast has helped over 150,000 customersthrough Social Media.
Who isdoing it RIGHT
Starbucks gave their consumers a voice
Resulting in over 50,000 product ideas
What is social media? People having conversations online.Why social media? A fundamental shift in the way we communicate.How to implement? Choice of words. Learn about audience. Channels.Who is doing it right? Dell. Comcast. Starbucks. Social media in China.
References1. The Razorfish Social Influence Marketing Report2. Research Micro Blogging Trend During World Cup, Sina.Inc3. Brands and Social Media in China, Ogilvyone Worldwide4. Power to the People – Social Media Tracker Wave 35. Social Media in Asia, 360 Digital Influence, Ogilvy Public Relations6. Digital Actions and Their Effect on Advocacy, Consumer Insights Inc.7. eMarketer, TechCrunch.com, Los Angeles Times, Knowledge Networks8. Social media for business, Slideshare9. What the f**k is social media, Slideshare10. Before you open your mouth, Slideshare Thank you very much