crowded space: the business case for social media

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    crowded space: the business case for social media - Presentation Transcript

    1. Tony Felice, Developer & Strategist
    2. Tony Felice, Developer & Strategist
      Frequent speaker on Visibility, Acquisition and Analytics
      Over 15 years of experience in Interactive Marketing
      tfelice@reddoor.biz
      http://twitter.com/tonyfelice
      Today’s Presenter
    3. Offices and Denver and San Diego
      Internet Presence Management agency
      50 full-time employees
      Diverse client base
      Red Door Interactive
    4. Internet Presence Management

    5. if a new technology extends one or more of our senses outside us into the social world, then new ratios among all of our senses will occur in that particular culture”
      -Marshall McLuhan
      The Gutenberg Galaxy: The Making of Typographic Man,1962
    6. All media is inherently social
      Communication vector
      Ubiquitous
      Social media is a solidarity good
      User Generated Content
      Blogs
      Wikis
      Lifestreaming
      Review sites
      NOT a broadcast (or push) medium
      1 Billion
      4.1 Billion
      Social Media
      Videos viewed per day on YouTube.1 YouTube outperforms Yahoo! as the second largest search engine.2
      Source: YouTube, ComScore
      SMS text messages that are currently sent each day, nearly doubling the number from last year.3
      Source: CITA
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      The Impact Social Media
      The explosion in Consumer Generated Media over the last couple of years means consumers’ reliance on word of mouth in the decision-making process, either from people they know or online consumers they don’t, has increased significantly.”4
      - Jonathan Carson
      President of Online, International, The Nielsen Company
      Consumer Trust in Advertising*5
      Source: The Nielsen Company
      *Respondents reported some degree of trust in the respective advertising medium
      e.g. 90% of respondents trusted "completely" or "somewhat" recommendations
      from people they know5
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      What’s the buzz about?
      Consumer Behavior
      Measurability
      Availability and ubiquity
      Challenges
      Point of message origination
      Lack of (direct) control
      Shift in power
      Solution
      Be honest, transparent
      Trusted helmsman
      Plant seeds
      2 Billion
      The Impact of Social Media
      pieces of content shared weekly on Facebook 6
      Source: Facebook
    9. UNDERSTANDING THE AUDIENCE
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      Audience Segmentation
      Demographic
      Geographic
      Technographic Profile
      Creators
      Critics
      Joiners
      Collectors
      Spectators
      Inactives
      72%
      73%
      Understanding the Audience
      Of domestic internet users have some degree of trust in opinions and reviews posted online.5
      Source: Nielsen
      Domestic internet users visit social media sites.7
      Source: Forrester Research
    11. Joiners
      Inactives
      Understanding the Audience
      The number of users that maintain an online profile has more than doubled since 2007.7
      Source: Forrester Research
      The number of users that are inactive in social media has dropped nearly 60% since 2007.7
      Source: Forrester Research
      Social Technographic Profiles, 2007-Current7
      .2007. 2009(est)
    12. ΔYoY
      Understanding the Audience
      Creators 17%
      Critics 48%
      Joiners 40%
      Collectors 58%
      Spectators 44%
      Inactives -43%
      Social Technographic Profiles, 2008-Current7
      .2008. 2009(est)
    13. Understanding the Audience
      people worldwide have started a blog.8
      Source: Technorati
      Social Technographic Profiles, This Audience
      184 Million
      60.3 Million
      people in the US report reading blogs, and there are 346 million blog readers around the world.8
      Source: Technorati
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      Ensure analytics are installed on the target site
      Describes traffic patterns, inbound vectors
      Identifies geographics
      Details keywords
      Focus groups
      Targeted emails
      Monitor social channels
      Monitoring is critical
      List of tools in “Resources” appendix
      Understanding the Audience
      25%
      of search results for the world’s top 20 largest brands are links to user-generated content.9
      Source: SES Magazine
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      Understanding the Audience
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      • Identify communities, discussions and influencers
      • Monitor challenges to your brand
      • Find relevant industry information
      • Inform your overall Social Media strategy
      • Who are the influencers?
      • What are these people saying?
      • When are these influencers active?
      • Where are the conversations happening?
      • Why are people talking (or staying quiet)?
      65 Million
      20%
      Understanding the Audience
      active users currently access Facebook through their mobile devices … 50% more active than non-mobile users.6
      Source: Facebook
      Twitter traffic comes thru the website. Where does the other 80% come from?10
      Source: Guardian
    17. STRATEGY
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      Initial considerations
      Verify infrastructure
      Analytics
      Benchmark traffic profile
      Establish a Policy
      Visibility
      Contingencies
      Plan B
      Third party outages
      High level buy-in
      Strategy
      The Good, the Bad, but not the Ugly. If the content is positive or negative and in context to the conversation, then we approve the content, regardless of whether it's favorable or unfavorable to Intel. However if the content is ugly, offensive, denigrating and completely out of context, then we reject the content.”11
      -Intel’s Social Media Policy
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      Budget and Resources
      Identify your motivation
      Market research
      Customer service
      Crowdsourcing
      Advertising (Influencing)
      Select appropriate channels
      Locate key influencers
      Define the Level of Effort (LOE)
      Identify Key Performance Indicators (KPI)
      Strategy
      Over and over again, connecting people with one another is what lasts online. Some folks thought it was about technology, but it’s not.”
      -Seth Godin, author of “Small is the New Big”, pg 208
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      Plan
      High visibility
      Heavy engagement
      Basics
      Provide value
      Expertise & opinions
      Set and meet expectations
      Design interactivity
      Social Objects
      Contests
      4pm
      Strategy
      may be the best time to deliver social messaging. While the general traffic patterns on twitter remain relatively constant throughout the day, retweets peak at 4pm.12
      Source: Dan Zarrella, The Science of Retweets, pg. 20
    21. JOINING THE CONVERSATION
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      Dynamics
      Relationships
      Conversations
      Phatic Communications
      Joining the Conversation
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      Lifecycle
      Listen
      Respond
      Engage and Nurture
      Create Buzz
      Be Transparent
      Converse
      Joining the Conversation
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      The currency of social interaction is trust. The equity is influence.
      As in real life, hard won, easily lost.
      Joining the Conversation
    25. DETERMINING ROI
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      Determining ROI
      Business has not changed, this type of marketing is simply a shift in the way business is done.
      Hard Metrics
      Soft Metrics
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      Hard metrics – financial impact
      Cost reduction
      Revenue generation
      Soft metrics - transactional precursors
      Brand Mentions
      View-throughs
      Click-throughs
      Traffic
      Impressions
      Determining ROI
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      Maintain an activity timeline
      All events driven by strategy
      Any events that may impact the campaign
      Press Releases
      News Articles
      Awards and Recognition
      Any milestone events in the campaign
      Social Reach (network milestones)
      Shared Content
      Configure analytic funnels (goals)
      Determining ROI
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      Compile transactional precursors
      Pull the hard numbers
      Sales Revenue
      Number of Transactions
      Customer Count
      (Identify new vs. repeat)
      Overlay all the timelines
      Transactional precursors
      Traffic
      Funnel goal completions
      Conversions
      Determining ROI
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      Do events in the campaign coincide with fluctuations in transactional metrics?
      Frequency
      How often customers are transacting?
      Reach
      Number of Customers (new vs. existing)
      Yield
      $ per transaction
      Determining ROI
    31. STAYING CONNECTED
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      Social media should be approached as a long-term strategy, supported over time by consistent communication and valuable content
      Short-term campaigns work best for follower acquisition, short bursts of increased activity to support a seasonal promo or blended campaign
      To be successful, you have to stay connected.
      Staying Connected
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      Understand long-term expectations
      Growth and Impact
      Resources
      Staying Connected
    34. CASE STUDIES
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      Raising awareness
      Adding value
      Increasing sales
      Targeted Campaigns
      $3M attributed to Twitter alone
      Connecting with customers
      Case Study: Dell
      We thought, ‘Great-this has a really short lead time, and it will let us communicate our message effectively. We started using it for one-way communication.
      …We realized that people were really interested in talking with us.”
      - Stefanie Nelson, manager of demand generation at Dell Outlet.
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      Blogger Rebellion
      “Dell Hell”
      Blindsided from ignorance
      Listened
      Joined the conversation
      Learned the right way to interact
      Reached out to community
      Acknowledged customer
      Timeline: 3+ years
      Case Study: Dell
      …clueless Dell, your customers can just blog their questions and answers without you. Or should I say, former customers?”
      - Stefanie Nelson, manager of demand generation at Dell Outlet.
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      The Hub
      Failed mySpace clone
      Encouraged teens to upload photos, videos, shopping lists
      Jim and Laura, bloggers
      Disclosed as a hoax funded by PR agency, Edelman
      Facebook Failure
      Attempt to attract college students
      All they got were haters
      Case Study: Wal-Mart
      Communities already exist…Instead you should be asking yourself, what can I do to help this community do what it wants to do?”
      -Mark Zuckerberg, Facebook, CEO
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      Recovery
      Ratings and Reviews
      The Checkout Blog
      voice for Wal-Mart’s product folks
      Elevenmoms
      Colony of mommy bloggers
      Transparent, full disclosure
      The real success: High level buy in
      Case Study: Wal-Mart
      …we’re not hesitant, we’re ready to embrace this stuff.”
      -H. Lee Scott, Walmart, CEO
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      Let’s explore what crocs should do to be successful with this marketing approach.
      Hypothetical: Crocs
    40. SUMMARY
    41. QUESTIONS
    42. Ground Floor is a new agency within Red Door established to give students hands-on experience managing and growing a real interactive agency.
      TEAM WORK
      developing interactive strategy
      designing and implementing integrated programs
      analyzing campaign performance
      managing clients, employees, and vendors
      EXPERIENCE
      work directly with clients and vendors
      professional support from your RDI counterpart & faculty support
      Internship Program
    43. Email: tfelice@reddoor.biz
      LinkedIn: http://www.linkedin.com/in/tonyfelice
      Twitter: http://twitter.com/tonyfelice
      Web: http://www.reddoor.biz
      Blog: http://reddoorbuzz.com
      Intern Program: http://groundfloorbuzz.com/
      Email: dobiz@reddoor.biz
      Twitter: @reddoorand @reddoorjobs
      Contact the Speaker
      More Info on Red Door Interactive
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      Citations and Reference
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      Slideography
    46. 10/16/2009
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      Resources

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