Social Network Marketing: MySpace, YourSpace and TheirSpace, Connecting With Your Customers In Online Social Networks

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Social Network Marketing:
MySpace, YourSpace and TheirSpace, Connecting With Your Customers In Online Social Networks

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Social Network Marketing: MySpace, YourSpace and TheirSpace, Connecting With Your Customers In Online Social Networks

  1. 1. Social Network Marketing: MySpace, YourSpace and TheirSpace, Connecting With Your Customers In Online Social Networks
  2. 2. Social Networks And the Future of Marketing The Five Key Topics We’ll Explore: 1 | Why Social Networks, What Are They And Which Ones Matter There are over 125 active social networks online today. 2 | Who’s On Social Networks A look at the demographics, behaviors and brave organizations in the social web. 3 | The 5th P of Marketing How marketers are leveraging social networks through participation. 4 | The Social Network Marketing Process Getting in touch with your customers in the social network space. 5 | Where Do We Go From Here A look into the near future where applications emerge to help users manage information and synchronize online activities with offline life. 2 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  3. 3. 1 | Welcome to the Social Web Social networks are online communities that allow users to create a web presence, manage their identities, and stay connected to friends and colleagues. Social networks like Facebook, MySpace, and LinkedIn, along with social networks setup by corporations, are among the most popular destinations on the web, with millions of users from around the globe signing up daily. These sites are quickly evolving from mere public profiles into platforms for communication, creativity, advertising, and even commerce. 3 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  4. 4. 1 | A Look at the Numbers •During 2007, 37% of the U.S. adult Internet population used online social networking at least once a month. eMarketer expects that figure will rise to 49% by 2011. •Currently, 70% of all U.S. teens visit social network sites on a monthly basis. •Worldwide online social network ad spending will grow 82% from $1.2 billion in 2007 to $2.2 billion in 2008. In the U.S. alone, spending is projected to rise to $1.6 billion in 2008, from $920 million n 2007. Source: Williamson, Debra A. Social Network Marketing: Ad Spending and Usage. eMarketer. December 2007. 4 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  5. 5. 1 | A Look at the Numbers on Facebook.com Facebook.com Demographic Profile • More than 80 million activ e us e rs   • Face book is the 6th mos t- Unique Vis itors   (000) trafficke d we bs ite in the w orld May 2007 v s . May 2006 (comS core ) Total U.S . – Home /Work/Univ e rs ity Locations S ource : comS core Me dia Me trix   • Face book is the 2nd mos t-   trafficke d s ocial me dia s ite in the   Face book.com world (comS core )   e S e g me nt Ag 6-May 7-May • Ov e r 55,000 re g ional, w ork-       re late d, colle g iate , and hig h s chool   0 0 P e rc e nt Chang e ne tw orks Total Audie nce • More than half of Face book us e rs   are outs ide of colle g e Unique Visitors (000) 14,069 26,649 89%     P e rs ons : 12-17   1,628 4,060 149% • The fas te s t g rowing de mog raphic     P e rs ons : 18-24   5,674 7,843 38% is thos e 25 y e ars old and olde r   Persons: 25-34   1,114 3,134 181% • Maintain 85 pe rce nt marke t s hare   Persons: 35+   5,247 10,412 98% of 4-y e ar U.S . univ e rs itie s Source: comScore Source: Facebook 5 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  6. 6. 1 | S ocial Ne tw orks and W OM Ins pire Trus t
  7. 7. Social Networks 101 7 © Future Think LLC | Ne w York, NY | All Rig hts Re s e rve d
  8. 8. 1 | Brands are Going W he re Cons ume rs Play
  9. 9. 1 | Brand Name Social Networks • Disney DXD Disney Xtreme Digital is slickly designed, but a bit overwhelming on the senses of anyone past the tween Hannah- Montana-Vs-U2 years. Kids outside of the US will be disappointed, though, because the site won’t work for them. Perhaps Disney’s lawyers should have included an easy-to-understand primer of international copyright laws. • GoRunEasy.com Run by the shoe company Reebok http://en.wikipedia.org/wiki/Reebok , GoRunEasy is a site for runners to get together and discuss their runs and workouts, share photos and more. It seems like a fairly natural fit for the brand. • MarthaStewart.com The Domestic Diva sets you up as a “contributor” where you have your own page, info on yourself, save your favorite recipes, and participate in the message boards. Probably one of the best fits for a brand to have a social network; it’s odd that Oprah doesn’t have one. Source: Mashable.com | http://mashable.com/2008/04/06/brand-name-social-networks/ 9 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  10. 10. 1 | Brand Name Social Networks • Toyota Hybrid - Do you own a Toyota Hybrid? Are you passionate about it? Then Toyota has the social network for you where you can share your love for your car and tell everyone your reason for being in love with your Hybrid. Great way to tap into the ‘next generation’ car culture. • Pepsi.Youniverse.com - Powered by the Youniverse white label social networks, this Pepsi social network focuses on European football (soccer). Considering the passion for this game (everywhere but the USA), this one may seem an odd blend at first, but globally it could work. • Think.MTV.com - Run by MTV, their Think social network is mainly about motivating their youth demographic to care about politics and knowing that their voices do count. Probably the most noble of the offerings. Source: Mashable.com | http://mashable.com/2008/04/06/brand-name-social-networks/ 10 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  11. 11. 1 | The Many Opportunitie s for Marke te rs • Adv e rtis ing – Banne r Ads – Conte xtual//Ne ws Fe e d/Fly e r Ads – S ocial Ads • Marke ting – Face book & My S pace Pag e s and S pons ore d Groups – Caus e s • W ord of Mouth/Inte raction – Applications – W idg e ts • Inte llig e nce – Profile s and Ne twork information – Public Groups – Polls & Re s e arch
  12. 12. 1 | W hat Are Y ou Try ing to Accomplis h?
  13. 13. Social Networks And the Future of Marketing The Five Key Topics We’ll Explore: 1 | Why Social Networks, What Are They And Which Ones Matter There are over 125 active social networks online today. 2 | Who’s On Social Networks A look at the demographics, behaviors and brave organizations in the social web. 3 | The 5th P of Marketing How marketers are leveraging social networks through participation. 4 | The Social Network Marketing Process Getting in touch with your customers in the social network space. 5 | Where Do We Go From Here A look into the near future where applications emerge to help users manage information and synchronize online activities with offline life. 13 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  14. 14. 2 | Social Network Technographics™ Publish a blog Taken together, these groups Creators Publish your own Web pages Upload video you created make up the ecosystem that Upload audio/music you created Write articles or stories and post them forms the social networks. Post ratings/reviews of products/services Comment on someone else’s blog By examining how they are Critics Contribute to online forums represented in any subgroup, Contribute to/edit articles in a wiki marketers can determine which sorts of strategies make Collectors Use RSS feeds Add “tags” to Web pages or photos sense to reach their “Vote” for Web sites online customers. Maintain profile on a social networking site Joiners Visit social networking sites Read blogs Watch video from other users Spectators Listen to podcasts Read online forums Read customer ratings/reviews Inactives None of the above Source: Forrester Research Groups include people participating in at least one of the activities monthly.
  15. 15. 2 | Who’s On Social Networks? Source: Forrester Research © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts 15 Re s e rve d
  16. 16. 2 | Members Communicate on Social Networks See what my friends are up to: 86% Sent a message to someone: 79% Posted/updated my profile: 70% Looked at profiles of people I didn’t know: 65% Searched for someone that I used to know: 59% Send a friend/connection request: 53% Listened to music: 47% Read a blog or journal: 51% Wrote on someone’s profile page (e.g. wrote 55% on a wall, posted a testimonial): Watched a video: 40% Base: US online adult social networking site users, Source: North American Technographics Media And Marketing Online Survey, Q3 2007
  17. 17. 17 © Future Think LLC | Ne w York, NY | All Rig hts Re s e rve d
  18. 18. Social Networks And the Future of Marketing The Five Key Topics We’ll Explore: 1 | Why Social Networks, What Are They And Which Ones Matter There are over 125 active social networks online today. 2 | Who’s On Social Networks A look at the demographics, behaviors and brave organizations in the social web. 3 | The 5th P of Marketing How marketers are leveraging social networks through participation. 4 | The Social Network Marketing Process Getting in touch with your customers in the social network space. 5 | Where Do We Go From Here A look into the near future where applications emerge to help users manage information and synchronize online activities with offline life. 18 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  19. 19. 3 | The Fifth P of Marketing: Participation Where do Social Networks and Social Media Marketing fit into the classic “4 Ps of Marketing” model? The traditional 4 Ps of Marketing encompass Product, Price, Place and Promotion. Social Media as well as social networking sites enable the Promotion aspect, especially the Word of Mouth part of it. Subsequently, the Word-of-Mouth and ‘connectedness’ component enables the 5th P of Marketing Participation. As Social Network users begin to amass more connections on social networking sites, it is becoming increasingly difficult to separate friends and family from acquaintances, commercial interests and professional contacts. It’s not uncommon for the average Facebook or Myspace user to have thousands of ‘friends.’ You need to Participate to join that conversation 19 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  20. 20. 3 | Using Social Networks for Marketing Customer community and relationship development Online social networks allow a prospective customer or prospective member to easily facilitate a real, human level connection with individuals within an organization. This enables genuine business relationships to form and puts an authentic human face on the interaction. Support campaigns reaching social network users For many organizations, it would be valuable enough to develop a social network site in conjunction with a seasonal campaign, a trade show, an event or to support an upcoming product launch. Customer support and service networks Not all social networks have to affect the businesses top line. Some affect the bottom line by reducing support costs, connecting customers with peers that can help them (and reduce the load on your support staff) and offer solutions that form a growing knowledge base of content that forms the ‘long-tail of support’ for your organization. 20 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  21. 21. 3 | Using Social Networks for Marketing Serve as an additional ‘product’ or ‘service’ of your organization By creating a strong network of human capital assets, a single service provider can provide a much greater value proposition to a prospective customer than an organization working without the benefit of the network. Increasing the value and extend the “shelf life” of events By creating an online social network of event attendees extends the “shelf life” of an event, enabling the attendees to remain connected and help your customer community more effectively achieves its goals. Differentiate your service through your customer connections If a customer can easily identify his or her areas of commonality with the customers of a prospective service provider, that customer can have some assurance that the service provider will understand the customer’s point-of- view, and provide the type of service that the customer expects and supports. 21 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  22. 22. Social Networks And the Future of Marketing The Five Key Topics We’ll Explore: 1 | Why Social Networks, What Are They And Which Ones Matter There are over 125 active social networks online today. 2 | Who’s On Social Networks A look at the demographics, behaviors and brave organizations in the social web. 3 | The 5th P of Marketing How marketers are leveraging social networks through participation. 4 | The Social Network Marketing Process – L-A-M-P Getting in touch with your customers in the social network space. 5 | Where Do We Go From Here A look into the near future where applications emerge to help users manage information and synchronize online activities with offline life. 22 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  23. 23. 3 | The Process for Social Network Participation Social Media Awareness 23 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  24. 24. 4 | The Process for Social Network Participation L | LISTEN: Where are your customers online/offline? • Blogs, Social media tools (e.g. LinkedIn Answers), Discussion Forums, Twitter, etc…/Events Monitor these conversations: • Find your brand using Google Alerts, Keotag.com, Boardreader.com and Technorati.com • Use a central tool to track the different conversations happening around your company. Most online conversations are RSS enabled, barring a few Yahoo! groups that don’t support RSS. Use a RSS reader (e.g. Bloglines.com) to gather all these conversations into a central repository and create a folder that you check on a daily basis. 24 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  25. 25. 4 | The Process for Social Network Participation A | AWARENESS: Calculate Brand perception within these conversations • News & Blogs (Google search, Google Blog search, technorati search) • Keyword mentions & incoming links • Corporate Blog (Unique users, hits, trackbacks, comments) • Brand Scoring system (how much buzz are you getting vs. competition) • Assign a marketer to staying aware and alert to what’s going on in social networks and social media – Around your company – Around your competitors – Around your industry 25 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  26. 26. 4 | The Process for Social Network Participation M | MEASURE: The value of social media presence can be calculated by simple methods: • Reach How many people are influenced by our social networking efforts? • Acquisition How much of their attention have we acquired through connections, website visits, and time spent engaging with us? • Conversion How many have we ‘converted’ toward the ultimate goal (subscription, sales, leads, registrations, evangelists, etc.)? • Retention Are we reducing customer churn, lowering our overall cost to serve, increasing the purchase value/volume/frequency, and growing the lifetime value of our customer base? 26 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  27. 27. 4 | The Process for Social Network Participation M | MEASURE: Another take on the process of measuring social media value Source: Forrester Research 27 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  28. 28. 4 | The Process for Social Network Participation P | PARTICIPATE: Create a strategy around how you wish to participate! You have the following options: • Be where the users are • Facilitate easier means of communication with them • Create brand evangelists • Be a source of information on the company • Respond swiftly and honestly • Start publishing content • Stir internal company conversations • Improve product and user experience 28 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  29. 29. 4 | Join or Create a Social Network • Marketers are faced with the decision to join an existing social network like Facebook or Myspace or create their own community and social space to connect customers together CONSIDERATION YES NO I have a significant base of If y our bas e is the c onne cting ty pe , Look for fans in e xis ting fav orite customers that I can reach out to the n build it and inv ite the m. s ocial ne tworking s ite s . immediately upon forming a community. M industry is full of companies y If the y ’re on the e xis ting s ocial This is a g ood opportunity for y ou to that connect with their ne twork s ite s , c re ate a g roup and build a s trong community if y ou customers in communities. join the m the re . If not, y ou mig ht hav e cus tome rs and fans like ly to hav e a hard time pulling the m into join. y our s tandalone ne twork. I can find my brand online in Your c us tome rs may be waiting for If the re ’s not much buz z about what newsgroups, social networks, y ou to me e t the m on My S pac e and y ou do, the n the fav orite s ocial ne ts review sites and blogs. join the m in forums . If y ou hav e mig ht not be the plac e for y ou. s ig nific ant v alue to add, y ou may Howe v e r, a s tandalone ne twork can cre ate y our own s tandalone he lp g row y our loy al bas e if y ou ne twork. hav e s ig nificant v alue to s hare with y our cus tome rs . W already have a company e Building on an e xis ting following is Cus tome rs who are not c urre ntly blog, forum, user group or the e as ie s t way to form y our own re g ularly c onne c ting with y ou may annual customer event. s tandalone s ocial ne twork to offe r s till be c onne cting with e ach othe r. ne w way s to conne c t cus tome rs . S e arc h out cus tome rs within y our cate g ory of inte re s t in e xis ting s ocial ne twork platforms . 29 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  30. 30. Face book • Cre ate a pag e for y our e mploy e e s • Us e for pe e r re cruitme nt • S hare e v e nt & corporate info • Limit to thos e w ith y our corporate e mail addre s s e s
  31. 31. Linke dIn • Gre at for corporate alumni g roups • Cas t a w ide ne t for upcoming and acute - ne e d tale nt • Allows e mploy e e s to conne ct with the re s t of the w orld, and e ach othe r
  32. 32. Cus tom S ocial Ne tw ork • Acce s s to the s ig nificant corporate re s ource s • Conne ct to curre nt and e x-e mploy e e s w ith w hom I fe e l a re al camarade rie • Endle s s opportunitie s for doing bus ine s s with othe r e mploy e e s re g ionally , nationally , or g lobally . • Inv olv e me nt in initiativ e s of mutual inte re s t s uch as community proje cts
  33. 33. Social Networks And the Future of Marketing The Five Key Topics We’ll Explore: 1 | Why Social Networks, What Are They And Which Ones Matter There are over 125 active social networks online today. 2 | Who’s On Social Networks A look at the demographics, behaviors and brave organizations in the social web. 3 | The 5th P of Marketing How marketers are leveraging social networks through participation. 4 | The Social Network Marketing Process Getting in touch with your customers in the social network space. 5 | Where Do We Go From Here A look into the near future where applications emerge to help users manage information and synchronize online activities with offline life. 33 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  34. 34. 5 | Where Do We Go From Here? • Web users are already connected – they now seek simplicity and synchronization across multiple accounts both online and off. • Every company on the Web holds mountains of data about the people that visit their sites – all this data can be used to create “smart” applications that make our Web experiences more seamless. 34 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  35. 35. 35
  36. 36. 5 | Where Do We Go From Here? What does it mean for you? Ask Yourself: • How can you create a Web experience for your customers that both respects their privacy and reduces redundant/unnecessary behaviors? • If the Web evolves into a place where applications are automatically suggesting content to users, how will you ensure that you can still connect with potential customers and partners? How will you stay relevant in the Semantic Web? 36 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  37. 37. Final Thoughts Over the next few years, we expect to see a rise in familiar brands, such as WebMD, Nike, ESPN, or the FoodNetwork, building applications within the Facebook or OpenSocial platforms. Watch for new companies, applications, and uses to emerge in the coming months. Looking ahead, we encourage you to avoid the short-term “put-a- banner-ad-on-Facebook” strategy. As we’ve pointed out, there are a number of longer-term directions you should consider in order to effectively leverage this nascent platform as a real business opportunity. 37 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  38. 38. Final Thoughts “Every brand needs to be relevant and part of a community. They need to open a dialogue with their consumers, but they also need to be prepared for what could be negative feedback and I don’t think all marketers are ready for that.” - Bob Ivins, EVP, comScore 38 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  39. 39. Jumpstart You Social Network Marketing 5 Simple Rules For Effective Social Network Marketing 2. Don't s tart with the tool. De fine the bus ine s s obje ctiv e and the n s e le ct the tools to achie v e the m. Ofte n it w ill be a combination of channe ls , including v ide o, podcas ts , dis cus s ion g roups and s ocial me dia. 3. Ge t e mploy e e s inv olv e d. Online cus tome rs are like ly to be more knowle dg e able about y our company and marke t than mos t pros pe cts . De putiz e y our e mploy e e s to s pe ak for the company . 4. Be re s pe ctful and ope n to criticis m. Ig noring or (e v e n wors e ) de le ting ne g ativ e comme nts w ill only make y ou look arrog ant and de fe ns iv e . 5. Be pe rs onal. S ocial me dia are about pe ople . W hate v e r y ou do, le t the human v oice come throug h. Include bios , photos and s tate me nts by the e mploy e e s who will be e ng ag ing with the community . Mix pe rs onal and profe s s ional topics and inv ite v is itor re s pons e . 6. Take a long -te rm v ie w. Y ou're forming re lations hips , not de liv e ring me s s ag e s . The firs t 13 we e ks are jus t a s tarting point. S ucce s s ful campaig ns may s tre tch out a y e ar or long e r. Choos e topics that hav e s tay ing powe r and contributors w ho are pas s ionate about inte racting with the ir cons titue nts . 39 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  40. 40. Homework! • Get acquainted with blogs and the consumer media space www.technorati.com • Setup a LinkedIn profile and connect to your co-workers and friends www.linkedin.com • Setup a FaceBook profile page and look for your friends/classmates/kids www.facebook.com • Explore RSS and Newsfeeds (look on your favorite sites for the RSS button) www.bloglines.com • Setup a NING (www.ning.com) network 40 © Ma rke ting Sa va nt™ | Gre e n Ba y, WI | All Rig hts Re s e rve d
  41. 41. Social Network Marketing: MySpace, YourSpace and TheirSpace, Connecting With Your Customers In Online Social Networks Q&A Need help after the presentation? Email dana@marketingsavant.com

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