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Social Media in Business
 

Social Media in Business

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A plain English introduction to Social Media for marketeers; including the size of market opportunity, practical business applications, dos and don'ts and measuring return on investment

A plain English introduction to Social Media for marketeers; including the size of market opportunity, practical business applications, dos and don'ts and measuring return on investment

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    Social Media in Business Social Media in Business Presentation Transcript

    • Using Social Media in Business
      (In plain English)
      Rob Wilmot
      26thJan 2010
    • So what’s all this fuss about Social Media then?
    • Social Media Marketing - The benefits
      • Acquire new customers
      • Drive more traffic to your web presence
      • Build trust-based relationships
      • Engage in the Social Media discourse
      • Establish a dialogue and a following
      • Communicate your values
      • Mitigate negative PR
      • Build and enhance expert reputation
      • Become an authority in your sector
      • Do more business
      • Extend and build your brand
    • Social Media Marketing - The Tipping Point
      • Rage Against the Machine beat X-Factor Joe to Christmas number one
      on back of a Facebook and Twitter Campaign
      • Facebook received more site visits than Google on Christmas Eve and
      Christmas Day (source Hitwise)
      • Pepsi pull TV adverts from Super Bowl in favour of online Social Media
      campaign
      • Barack Obama credits Social Media as a pivotal tool in his presidential
      campaign
    • Social Media Marketing – So many tool and sites – So much noise!
    • Social Media Marketing – How do I protect my brand in all this?
      • There are hundreds of social networking sites and tools and one of them
      is going to be the next Facebook or Twitter.
      • It’s like 1995 again when companies were thinking ‘should I buy the
      web address / domain name for my company?
      • Use a tool like to protect your name or brand http://knowem.com
      • Follow the trends and join in when you’re ready
    • Social Media is conversational media: How people use Social Networking
    • Social Media Marketing -The Social TechnographicsTM Ladder
      Social Technographics
      classifies people according to how the use social technologies.
      Forrester can quantify the number of online consumers
      Within these groups using our consumer surveys.
      Image Credit - Forrester ‘Groundswell’
    • Social Media Marketing - Consumer Profile Tool
      Credit Forrester http://www.forrester.com/Groundswell/profile_tool.html UK - based on 1999 data
    • Social Media Marketing - B2B Profile Tool
      Credit Forester http://www.forrester.com/Groundswell/b2b_profile_tool.html UK based on 1999 data
    • Demographics and size of opportunity
    • Social Media Marketing - Social Networking in the UK
      Source Hitwise http://hitwise.com/
    • Social Media Marketing - Social Network Ranking in the UK
      Facebook
      YouTube
      Blogger
      13. Twitter
      Source Alexa http://www.alexa.com/topsites/countries/GB
    • Social Media Marketing - Twitter
      Twitter’s UK sees a massive increase through 2008/09
    • Social Media Marketing - Twitter
      Twitter’s UK traffic trebles in a month 
      source Hitwise http://hitwise.com/
    • Social Media Marketing - Twitter
      Unique Visitors to Twitter.com by Age Demographic – Jan 2010
      source: Google Ad Planner, 01/2010
    • Social Media Marketing - Twitter
      Twitter users are twice as likely to review or rate products online (24% vs. 12%), visit company profiles (20% vs. 11%) and click on advertisements or sponsors (20% vs.9%) as those who only belong to traditional social networking websites like Facebook and MySpace. The data suggests that Twitter users uniquely demonstrate higher engagement with brands, not just with “tweets” they post.
      Source Interpret LLC
      http://interpretllc.com/
    • Social Media Marketing - Facebook
      Facebook age distribution in the UK
      source: Facebook 01/2010
    • Social Media Marketing - Facebook
      Facebook relationship status in the UK
      source: Facebook, 01/2010
    • Crowd power and the new economy
    • Social Media Marketing - Crowds and the new economy
      • By the end of 2010 Gen Y (born 1974-1980)will outnumber Baby Boomers
      • 96% of the have joined a social network
      • 78% of consumers trust peer recommendations whilst only 14%
      trust advertisements
      • The fastest growing segment on Facebook is 55-65 year-old females
      • There are 200,000,000 blogs online
      • 80% of Twitter usage is on mobile devices. People update anywhere,
      anytime. Imagine what that means if the update is about an instance of poor
      customer service or slamming product review.
      • A group of individuals working together on Facebook and Twitter can
      beat the mass media spending power of established traditional media
      (Rage Against the Machine beat X-Factor Joe to Christmas number one)
    • Social Media Marketing - The Traditional Marketing Funnel
      Buyers
      Eyeballs
      AwarenessConsideration Preference Action Loyalty
      Concept Credit - Forrester ‘Groundswell’
    • Social Media Marketing - Social Media Marketing Funnel
      Awareness Consideration Preference Action Loyalty
      Competitive alternatives
      Peer reviews
      Buyers
      Eyeballs
      Contributors
      User-generated content
      Recommendations from friends
      Marketing Funnel x Social Media = Crowd Power
      Concept Credit - Forrester ‘Groundswell’
    • Social Media Marketing - You want to avoid this…
      Critics
      Spectators
      Creator
      Your Brand
      Image Credit Jean-Leon Gerome Pollice Verso
    • Social Media Marketing - You want to achieve this…
      Critics
      Your Brand
      Creator
      Spectators
    • Social Media Marketing - Etiquette
      • Build trust-based relationships
      • Talk about and comment on the sector you service. Don’t just sell, sell, sell
      • Listen to and read other’s blogs and comment on them
      • Listen more than you speak
      • Don’t spam
      • Don’t say or do anything you wouldn’t normally do in public
      • Be nice / diplomatic (even if your instinct is not to be)
      • Don’t be taunted or engage is arguments - there are no winners
    • Building a brand community:Dell case study
    • Social Media Marketing - Dell Case Study
      • Coupons: Dell distributes valuable discount coupons through Twitter
      and Facebook
      • Customer Service: Dell answers questions and solves problems
      by engaging with their audience
      • Crowdsourcing: Dell crowdsource their Twitter and Facebook
      networks for ideas on products, services, processes, and anything
      related to making their consumers satisfied
      • Network: Dell brilliantly and seamlessly integrate their Twitter
      network of followers with their Facebook fans for their Facebook
      company page. They convert many Twitter followers to Facebook
      fans and vice-versa
    • Agility and Immediacy:
      Moonfruit case study
    • Social Media
      • Campaign: To celebrate 10 years in business Moonfruit launched a one off
      7 day Social Media campaign to give away 10 MacBook laptops for the most
      creative Tweets which included the hash tag #Moonfruit
      • Network: The campaign crossed over to Flickr and YouTube with thousands
      of pictures and Videos being created and all interlinking and cross promoting
      the campaign
      • PR Success: Became top trending topic on Twitter. Mass amount worldwide
      media coverage off and online.
      • Increased following: Twitter followers increased from 2,000 to 23,000
    • Getting it wrong damages brands:Habitat case study
    • Social Media Marketing - Habitat getting it wrong
      • Habitat marketing staff used
      unsuitable # tags including the
      name of the opposition candidate
      in the Iran Election #MOUSAVI and
      others such as # iPhone
      • Habitat wereslated by the social
      media community and the media
    • Measuring Return on Investment
    • Social Media Marketing - Measuring Quantitative Return on investment
      Tracking conversions
      Choose
      your channels
      Build campaign
      URLs with unique
      tags
      Set objectives and define goals
      Share and
      distribute
      Links
      Learn from
      insights and adjust approach
      Track measure and review analytics
    • Social Media Marketing - Measuring Qualitative Return on InvestmentThe importance of Sentiment
    • Social Media Marketing - Rapid measuring return on Investment empowers agility and immediacy
      Conventional Marketing (big ideas, big bang launch, big budgets)
      Social Media Marketing (micro strategies, big insights, rapid iterations)
    • Search Marketing and Social Media are happy bed fellows
    • Social Media Marketing - Added value of SEO
      • Quality back links
      • You have control
      • Cost and effort saving
    • Social Media Marketing - Some final thoughts
      • Social Media isn’t…
      A magic solution to try when all other marketing is failing.
      • Social Media is..
      A powerful additional channel to be joined up with your traditional marketing
      and PR approach… But can also be a powerful, disruptive one off tool.
      • New economy - same rules
      Social Media is a channel which adheres to the same common sense rules
      as your traditional press, media, and web channels.
      • Listen and join in…
      The real power comes in that it is a discourse a two way conversation. If
      done right you get to build a trust relationship with you customers and
      they extend you reach into their personal social networks.
      Get it wrong and a brand/reputation can be easily damaged.
    • Thank you for your time today