Socialnomics

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Socialnomics

  1. 1. Socialnomics: The Revolution of Social Media<br />ICOR, October 2009<br />
  2. 2. About Crystal<br />CO Native, GO BRONCOS!<br />DANCE!<br />Social media addiction started Spring 2007<br />Started 3 Elements in May of 2009<br />Self-Proclaimed Tech Dork<br />If you worry about what might be, and wonder what might have been, you will ignore what is.  <br />~Author Unknown<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  3. 3. Social Media & Web 2.0 <br />Social media: Transforming people from content readers into publishers<br />Web 2.0: Interactive, online networking<br />Examples:<br />Social Networking: <br /> Twitter<br /> Linked In<br />Facebook<br /> MySpace<br />Social Bookmarking:<br /> Stumble Upon<br /> Delicious<br />Web 2.0<br /> Podcasts<br /> Wikipedia<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  4. 4. WOW!<br />$1.54 billion spent on world-of-mouth, social media marketing in 2008<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  5. 5. The Facts<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  6. 6. The Facts<br />By 2010 Gen Y will outnumber Baby Boomers<br />96% of them have joined a social network<br />1 out of 8 couples married in the US last year met via social media<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  7. 7. TheFacts<br />Years to reach 50 million users:<br />RADIO –<br />38<br />TV –<br /> 13<br />Internet – <br />4<br />IPOD – <br /> 3<br />Facebook added 100 million users in less than 9 months<br />iPod application downloads hit 1 billion in 9 months<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  8. 8. The Facts<br />1. China<br />2. India<br />3. US<br />4.Facebook<br />5. Indonesia<br />6. Brazil<br />7. Pakistan<br />8. Bangladesh<br />If Facebook was a country, it would be the 4th largest in the world. <br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  9. 9. TheFacts<br />1 in 6 higher education students are enrolled in online curriculum<br />80% of companies are using Linked In as their primary tool to find employees<br />The fastest growing segment on Facebook is 55-65 year-old females<br />YouTube is the 2nd largest search engine in the world – more than 100,000,000 videos<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  10. 10. The Facts<br />If you were paid a $1 for every time anarticle was posted on Wikipedia you would earn $156.23 per hour<br />78% of consumers trust peer recommendations<br />Only 14% trust advertisements<br />Only 18% of traditional TV campaigns generate a positive ROI<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  11. 11. The Facts<br />35% of book sales on Amazon are forthe Kindle when available<br />24 of the 25 largest newspapers are experiencing record declines in circulationbecause we no longer search for the news, the news finds us.<br />In the near future we will no longer search for  products and services they will find us via social media<br />More than 1.5 million pieces of content (web links, news stories, blog posts, notes, photos, etc.) are shared on Facebook… <br />daily.<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  12. 12. It’s about the Conversation<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  13. 13. How does this apply to me?<br />Personal<br />Business<br />Information/Learn<br />Conversation<br />Share Pics, Ideas<br />Ask Questions<br />Recreational<br />Events – Make Plans<br />Build New Relationships<br />Job Seeking<br />Build New Relationships<br />Gain Online Exposure<br />Enhance Customer Service<br />Talk to customers/clients<br />Enhance reputationPromote biz, products, news<br />Increase traffic, sales<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  14. 14. The 4 Power Players<br />+ Blog<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  15. 15. Mission (sort of): “Connecting. Sharing. Laughing. Learning. Relationships.” <br />Microblogging website<br />Fastest growing network – 1900% growth in 1 year!<br />60+ million members<br />Largest age group = 35-49<br />Every post indexed by Google<br />*New* - Twitter Posts found in Google Searches! <br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  16. 16. Mission:“To give people the power to share and make the world more open and connected.” – CEO, Mark Zuckerberg<br />Known for photos, videos, apps, news feeds and the wall<br />Over 300 million active members <br />4th most trafficked website in the world<br />Fastest growing demographic = age 35+<br />Largest photo-sharing platform 1 billion photos/month <br />5Ways to Play: Profile, Page, Group, Causes, Ads<br />Education, Mature, Money!<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  17. 17. Mission : “To connect the world’s professionals”<br />Over 48 million members in over 200 countries and territories around the world<br />New member joins approx. every second, and about half of members are outside the U.S.<br />Executives from all Fortune 500 companies are LinkedIn members<br />Job searching and B2B<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  18. 18. Mission : “Our mission is to provide fast and easy video access and the ability to share videos frequent.”<br />Every minute, 20 hours of video is uploaded to YouTube<br />Broad age range, 18-55<br />Acquired by Google in Nov 2006<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  19. 19. Blog<br />One of the best ways for SEO – Keywords!<br />Allows authenticity and detailed information delivery to provide credibility to readers<br />Blogspot.com <br />Wordpress.com<br />Wordpress.org (self-hosted)<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  20. 20. 2 More!<br />ActiveRain.com – 162,453 professionals on the world’s largest real estate network - free <br />Trulia.com - real estate search engine that helps find homes for sale and provides real estate information at the local level to help make better decisions in the process.<br />Real Estate Pros:<br />Market listings <br />View real estate data <br />Promote services<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  21. 21. Twitter + Facebook = <br />Relationship Management and Visibility Tools<br /> – Mari Smith, Relationship Marketing Specialist<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  22. 22. “Like me- Know me- Trust me- Pay me.” – Joel Comm, New York Times Best Selling Author and Social Media Expert <br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  23. 23. Social Media Objections<br />I don’t have time<br />I don’t know what I would talk about<br />I don’t want to learn how<br />I don’t want the entire world to know about my life/protect privacy<br />I don’t know how/best practices<br />I don’t understand how I make money<br />Twitter/Facebook is for kids, not me<br />How do I measure my ROI?<br />I don’t want to lose interpersonal/face time<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  24. 24. Social Media Answers<br />I don’t have time – 3rd party clients, delegate, hire company<br />I don’t know what I would talk about – 70/20/10 Rule<br />I don’t want to learn how – have someone else learn in house, hire company<br />I don’t want the entire world to know about my life/protect privacy – Say what you’re comfortable with<br />I don’t know how/best practices – local seminars, ebooks, companies, ask!<br />I don’t understand how I make money – Building Relationships = Sales!<br />Twitter/Facebook is for kids, not me – Baby boomers:fastest growing audience on FB. Twitter = 35-49, it’s where $$ is being spent! <br />How do I measure my ROI? – Track traffic,alerts, Alexa and Google PR, RT’s, testimonials, online sales<br />I don’t want to lose interpersonal/face time – MeetUp…think TweetUp!<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  25. 25. Social Media + Marketing Plan<br />Portion of the plan<br />What are your SM goals?<br />Audience? <br />Appropriate outlets?<br />Budget/Time?<br />SM Strategy for promotions, announcements, etc.<br />Measurement – ROI?<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  26. 26. Business Case Studies<br />Last December, seeking to enhance sales, Gary Vaynerchuk offered free shipping and promoted it three ways:<br />Direct marketing mailing cost $15,000 and brought in 200 new customers; <br />Billboard ad cost $7,500 and won 300 new customers;<br />Tweeting the promotion on Twitter attracted 1,800 new customers<br />–– Gary Vaynerchuk, who grew his family business from $4 million in sales to $50 million using Social Media, NYTimes.com, March 2009<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  27. 27. Personal Case Study<br />Donations Help 3-Year-Old Get Closer To Final Wish<br />CBS4 paid it forward with a $1,000 check on Oct 1st, 2009 for Disney Land<br />By Oct 5th, Isaac was in Disney Land because of Twitter <br />Campaign of Donations with Alyssa Milano and CEO of<br /> Twitter’s help<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  28. 28. Where to find me<br />Twitter - @madametwit – Twitter.com/MadameTwit<br />Facebook– Facebook.com/Crystal.Vilkaitis<br />Linked In – LinkedIn.com/in/CrystalVilkaitis<br />YouTube – YouTube.com/user/CrystalVilkaitis<br />StumbleUpon – CrystalVilkaitis.StumbleUpon.com <br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  29. 29. Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  30. 30. If you worry about what might be, and wonder what might have been, you will ignore what is.  <br />~Author Unknown<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />
  31. 31. References<br />Social Media Facts, Stats, Definitions:<br />Qualman, Erik. Socialnommics. 2009. Print. http://socialnomics.net<br />Smith, Mari. Consultant. http://marismith.com<br />Wikipedia - http://en.wikipedia.org/wiki/Social_media<br />Gary Vaynerchuk, March 2009, http://NYTimes.com<br />Pay It Forward Colorado, Donations Help 3-Year-Old Get Closer To Final Wish, by Suzanne McCarrol, http://cbs4denver.com/payit4ward/wish.isaac.krebs.2.1214522.html<br />Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com<br />

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