How social media is changing business

What We’ll be covering
What is social media.
Who’s using it.
Where are they online.
How are people using social media.
What it all means for business.

It is a revolution
The internet and World Wide Web were the biggest revolution since the industrial revolution.
Social media has revolutionized communications in less than a decade.

The Social Media Revolution

Worth repeating
Years to Reach 50 millions Users: Radio (38 Years), TV (13 Years), Internet (4 Years), iPod (3 Years)…
Facebook added over 200 million users in less than a year and now has more than 500 million
iPhone applications hit 1 billion in 9 months.
Source: www.socialnomics.com

What is social media
Wikipedia says: Social media are media for social interaction, using highly accessible and scalable publishing techniques. Social media use web-based technologies to transform and broadcast media monologues into social media dialogues.

Social media enables people to share opinions, insights and experiences on the web using tools to connect, interact and maintain and develop relationships.

I want to connect with people to share my knowledge and experiences.

What it isn’t
It isn’t telling people what to do, what they should think about you, what to buy.
Outbound marketing is out. Inbound marketing is in.

We are social
Social media thrives because we are social beings, that we want to be included and we want to know that our opinions are valued.

We are social
People share with their friends and family.
They make new friends based on shared interests and values.
They share insights and opinions.

People like to share

and they expect you to LISTEN.

Don’t wonder if they’re talking about. Know that they are.
Smart businesses are using social media to ask what their customers want and then giving it to them.
It’s a global focus group.

It’s about relationships.

YOU are the best advocate, salesperson and champion of your business or organization.

Here’s how it used to be

Here’s how it is today

Who’s using it.

Canadians visited Facebook 840 million times in July.
54% of users have income over $50,000.
77% have at least some college education.
52% are between 35 - 64.
Source: www.google.com/adplanner

50 million Tweets per day.
145 million users Worldwide.
Canadians visited Twitter 28 million
times in July.
50% have an income over $50,000.
81% between the age of 35-64.
Source: www.google.com/adplanner
Source Marketing Profs Research Spotlight Twitter 2010

220 million Canadians went to YouTube in July.
1.8 billion in the U.S.
50% watching videos on YouTube are 35 – 64.
50% have an income more than $50,000.

What does it mean for your Business?
Social media users not only have
Influence
they have
buying power.
If you’re not there, you’re missing out.

What kind of users are there?
Watching
Sharing
Commenting
Producing
Advocates/Brand Ambassadors

Watching – visit, listen, read, watch

Sharing – update status, forward links

Commenting – rate products, ‘like’, retweet, comment

Producer – blogs, videos, creates content

Advocate/Brand Ambassador – answer questions, defend your brand, love your products as much as you do

How many are doing what?
1% - Advocates/Brand Ambassadors
9% - Producers
90% - Watching, Sharing,
Commenting

How do people use it
Self-expression
Discover
Control
Connection
Entertainment

Who’s using social media
Why they’re using it
How they’re using it

What about business?

Customer Service

Listen and respond to conversations before problems escalate and or to activate "advocates."

Adult Home of "Lincoln's Little Correspndent”

Mobile is the future
1 in 4 Americans have a smart phone.

So what about Mobile?
In January 2010 - 30% of smartphone users accessed social networks via mobile browsers — this was up from 22.5% in 2009.
Total social networking access via mobile browsers on all mobile phones rose to 11.1% — this was up from 6.5% in 2009.
Twitter usage via mobile browsers was up 347% while Facebook mobile browser usage was up 112%.
Mobile phones are used as social connectors - 91% of mobile users go online to socialize. People are using their mobile phones "at the moment" to connect with others.

Social media are the tools.
Real time is the mindset.

What you need to succeed
Be willing share knowledge
Work in real time
Listen to your customers
Be accessible
Be passionate about what you do

Under pressure
The economy is still uncertain.
More and more people are opting to sell privately.
Increased pressure to change MLS regulations.

You are an expert in your neighbourhood.
Show it off!

Relevant content is critical
Turn information into relevant content.

Tell a story
Turn knowledge into passion.

Use you connections
Draw on the expertise of people you work with.
Use guest bloggers.
Take a video of a home inspection.

Give people a reason to hire you!

Janice Arnoldi
janice@arnoldimcpherson.com
twitter.com/janicearnoldi
ca.linkedin.com/in/janicearnoldi

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How social media is changing business

by Arnoldi McPherson

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