Social Media: The Power To Move Business Forward
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Social Media: The Power To Move Business Forward

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    Social Media: The Power To Move Business Forward Social Media: The Power To Move Business Forward Presentation Transcript

    • ERIN GERALD AFFILIATESSocial Media: The Power to Move Business ForwardWilson Toussaint Jr., President & CEOApril 20, 2011Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute.
    • Contents ERIN GERALD•  History•  Market Shifts and Trends•  Harnessing Social Media for Business•  Q&A Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 2
    • What is Social Media? ERIN GERALD A group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, whichallows the creation and exchange of user-generated content.1 Source: Wikipedia Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 3
    • What is Social Media? ERIN GERALD Web applications and tools that allow people to create and share content Social Networking Blogging Micro-Blogging Photo/Video/Music B2B Social Location-Based Sharing Networking Social Networking Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 4
    • Why Should I Care About Social Media? ERIN GERALD Social Media Revolution Videohttp://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/ Used with permission from Erik Qualman. Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 5
    • Why Should I Care About Social Media? ERIN GERALD•  You need to be where your customers are, and they are on Social Media –  662,000,000 users on Facebook and counting2… –  200,000,000 users on Twitter and counting3… –  200,000,000 blogs and counting4… –  100,000,000 users on LinkedIn and counting5… –  2 billion video views/week on YouTube and counting6…•  Your competitors do –  70% of small businesses use Facebook7 –  250,000 businesses using Foursquare to reach its 8,000,000 users8 –  2,000,000 businesses on Linked In & 73% of the Fortune 100 use it for recruiting9•  Your customers/prospects are talking about your company/brand in Social Media –  70,000,000 blogs discussing products & brands10 –  25% of Twitter’s users follow a brand on Twitter11 •  67% more likely to buy from that brand!12 •  79% more likely to recommend that brand!13 –  40% of Facebook’s users follow a brand on Facebook14 •  51% more likely to buy from that brand!15 •  60% more likely to recommend that brand!16 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 6
    • Why Should I Care About Social Media? ERIN GERALD•  Traditional advertising models are being turned on their heads –  78% of people trust peer recommendations17 –  14% of people trust company advertisements18 –  Shifting focus toward getting recommendations vs. broadcasting product attributes/benefits•  It’s sheer size and reach can spread a negative message about your company/brand very quickly Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 7
    • Why Should I Care About Social Media? ERIN GERALD•  It’s where your customers are!•  Your competition is there too!•  Customers/prospects are talking about you there!•  It’s more powerful than traditional marketing!•  Bad news travels at warp speed there! … and so does Good news! Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 8
    • Contents ERIN GERALD•  History•  Market Shifts and Trends•  Harnessing Social Media for Business•  Q&A Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 9
    • Social Media is Ramping Faster ThanAnything… Ever! ERIN GERALD•  Facebook added 200MM users in < 1 year!19•  Apple’s App Store reached 1 billion downloads, 8 months after launch!20•  Groupon is on pace to reach $1 billion in revenue faster than any company… ever!21•  Executives from all 2010 Fortune 500 companies belong to LinkedIn22 •  Is your business leading or lagging behind your competition in its use of Social Media? •  Do you even know? Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 10
    • And Mobile is Right Behind It! ERIN GERALD•  Smartphones + Tablets outsold PCs + Laptops in 201023•  In < 2yrs, Gartner predicts Smartphones will exceed the entire installed base of PCs with 1.82 billion units worldwide24•  Mobile users are 2x as active as Desktop users on Facebook25•  In < 2yrs, Gartner predicts that smartphones will overtake PCs as the dominant web access device worldwide26•  Shoppers purchased $2Billion in goods from eBay via mobile devices in 2010 and this figure is estimated to double to $4Billion in 2011!27 •  Do you have a mobile strategy? •  Does your mobile strategy account for this rapid growth? •  Do you have mobile versions of your business websites? Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 11
    • Contents ERIN GERALD•  History•  Market Shifts and Trends•  Harnessing Social Media for Business•  Q&A Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 12
    • Social Media Pays Great Dividends ERIN GERALD Engaging Customers in Social Media Can Drive Substantial Business Value é Revenue ê Cost é Loyalty* Higher Community- Strong brand converting based product loyalty & less referral support customer business churn * According to Bain & Company, a 5% increase in customer retention can increase a company’s profitability by 75%!28 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 13
    • 4 Key Steps to Harnessing Social Mediato Grow Your Business ERIN GERALD 4 1 Web/ Business Mobile Goals Presence Social Social Media Media Presence Strategy 3 2 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 14
    • Step 1: Goals – Start with the End in Mind ERIN GERALD Focus Considerations Social Media Team Cross-functional, empowered team True Social Media “Believers” Objectives/Metrics Desired outcome? What does success look like? Audience Who are you trying to reach? What’s their demographic makeup? 4 1 Web/ Business Mobile Goals Presence Social Social Media Media Presence Strategy 3 2 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 15
    • Step 2: Strategy – Framing the Gameplan ERIN GERALD Focus Considerations Location Where is your audience & how do they use SM? Relationship What’s your relationship w/ this audience? Roadmap How will you reach your goal? Tools: http://forrester.com/empowered/tool_consumer.html 4 1 - Social Technographics Profile tool: Provides insights on B2B & B2C audience use of Social Media (free) Web/ Business Mobile Goals Presence Social Social Media Media Presence Strategy 3 2 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 16
    • Step 3: Build Your Social Media Presence ERIN GERALD Focus Considerations Location Establishing/optimizing “hub and spoke” system. Content Optimizing content sources, mix, schedule. Traction Tracking progress toward goals & adjusting execution. Tools: http://www.tweetdeck.com/ - 1 tool to update Twitter, Facebook, LinkedIn, Foursquare, etc. (free) 4 1 Tools: http://bit.ly/ - Track click-throughs & referral sources (free) Web/ Business Mobile Mass Media Sites Dominant Niche Sites Goals Presence Social Social Media Media Presence Strategy 3 2 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 17
    • Step 4: Build Your Web Presence ERIN GERALD Focus Considerations Web User Experience: Fast, intuitive, and engaging. Mobile User Experience: Above + mobile website! Hub User Experience: “frictionless” learning, buying, and community features. Tools: http://www.wibiya.com/ - “Social” toolbar offering 4 1 Facebook, Twitter, YouTube integration w/ your website; Web/ No coding required. (free) Business Mobile Goals Presence Social Social Media Media Presence Strategy 3 2 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 18
    • Social Media Drives Business Results ERIN GERALDHelps you realize your business strategy in a number of ways, including: Generating qualified sales leads by: •  Helping prospective customers find you, through use of targeted keywords and search engine optimization (SEO) techniques •  Clearly communicating your unique value proposition to prospective customers through your social media profiles and website Increasing sales conversions by: •  Positioning you as the trusted, subject matter expert in your field •  Establishing/cultivating trust-based relationships with prospective customers & business partners •  Getting high-conversion referrals from the above Reducing operating costs by: •  Building an engaged customer community that your customers can turn to for solutions to common product issues – reducing calls to your customer service & technical support teams Building customer loyalty by: •  Engaging in conversations with customers in social media •  Making them “feel heard” •  Promptly incorporating their feedback into product or service enhancements (free market research!!) Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 19
    • Contents ERIN GERALD•  History•  Market Shifts and Trends•  Harnessing Social Media for Business•  Q&A Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 20
    • Erin Gerald Affiliates: Our Services ERIN GERALDTECHNOLOGY-ENABLED BUSINESS SOLUTIONS User Experience Web MobileSocial Media Design Development Developmento  Strategy o  Usage Context o  eCommerce o  iOS & Androido  Implementation o  UI Structure o  eBusiness o  Smartphoneso  Training o  Visual Design o  Rich Media o  Tabletso  Support o  Content Strategy o  Content o  Native Appso  Maintenance o  Sound Design Management o  Mobile Websites Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 21
    • And Now For Our Raffle! ERIN GERALD “It’s obvious that Erik Qualman’s passion is social media.” - Dan Heath, New York Times bestselling coauthor of Made to Stick and Switch “People are hot for social media… Erik Qualman says it’s about listening first, then selling.” - Forbes “Erik Qualman has been doing his homework on the social media phenomenon.” - The Huffington Post“This is a must-read for anyone trying to leverage the social graph rather than be squashed by it.” - Steve Kaufer, CEO, TripAdvisor Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 22
    • Thank You! ERIN GERALDIf you enjoyed this presentation, please Tweet about it using hashtag “#EGA2011”!How To Reach Me Twitter: @wtoussaint Email: wtoussaint@eringerald.com Phone: 877.700.4EGA x302 Web: www.eringerald.com Wilson Toussaint Jr. is a Certified Social Media Strategist and a Senior Executive with over 20 years of management consulting and industry experience leading technology-based product development initiatives, many of which have produced 8 and 9-figure annual revenue streams. As a Senior IT Executive for a $1B Global Education Company, he led the implementation of a next-generation Internet-based test delivery platform that has generated over $980 million in revenue in its first 5 years of operation – an effort that won CIO Magazine’s Bold 100 Award in 2005. He is President and CEO of Erin Gerald Affiliates, a Technology and Social Media Consulting Firm that helps clients increase sales by using Social Media and the web to stimulate demand and convert prospective customers. Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 23
    • The Social Media Landscape is Broad and Dynamic… ERIN GERALD WWW.THECONVERSATIONPRISM.COM by Brian Solis & Jesse ThomasIncluded under the Creative Commons Attribution License. See link for usage details: http://creativecommons.org/licenses/by-nc/3.0/ … So, focus on your business objective first, then identify the best tool/platform to achieve that objective. Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 24
    • Resources ERIN GERALDTo Keep Up With Social Media Trends/News, I Recommend:Web Twitterwww.mashable.com - arguably the top social media & emerging web @mashabletechnology news/info site. A great resource for news, trends, and @mashbusinessanalysis on these topics. 40 million pages views/month. @mashsocialmedia @mashablemobilewww.techcrunch.com - excellent resource for news, trends, and @techcrunchanalysis on web and mobile technologies, startups, and products. 35million page views/month.www.socialmediaexaminer.com - great source for social media @smexamineranalysis, research reports, and news – all focused on helpingbusiness use social media to increase sales and brand/companyawareness.www.social-media.alltop.com - aggregates content from hundreds of @Alltop_Socialsources and presents the latest news on social media (as well as1,000 other topic areas). Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 25
    • Resources, continued. ERIN GERALD•  Good Books on Social Media:Title/Author CoverSocialnomics: How Social Media Transforms The Way WeLive and Do Business, by Erik QualmanA great introduction to Social Media concepts, trends, case studies,and guidelines for effectively using social media to grow yourbusiness.The Executive’s Guide to Enterprise Social Media Strategy:How Social Networks Are Radically Transforming YourBusiness, by David B. Thomas, Mike BarlowA solid guide outlining the market-facing and intra-company benefitsof social media, from increasing revenue and brand loyalty tobreaking down internal corporate silos and raising internalproductivity/efficiency. Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 26
    • References ERIN GERALD1.  Source: Wikipedia http://en.wikipedia.org/wiki/Social_media2.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends Presentation, Slide 12 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-20113.  Source: Wikipedia http://en.wikipedia.org/wiki/Twitter4.  Source: Erik Qualman, 5/2010 Social Media Revolution Video, http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/5.  Source: LinkedIn http://press.linkedin.com/about/6.  Source: YouTube http://www.youtube.com/t/press_statistics7.  Source: Merchant Circle http://blog.merchantcircle.com/2011/02/q1-2011-merchant-circle-mci-survey.html8.  Source: FourSquare https://foursquare.com/about9.  Source: LinkedIn http://press.linkedin.com/about/10.  Source: Erik Qualman, 5/2010 Social Media Revolution Video, http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/11.  Source: Digital Surgeons http://www.digitalsurgeons.com/facebook-vs-twitter-infographic/12.  Source: Chadwick Martin Bailey and iModerate Research Technologies http://www.imoderate.com/main/newsID/50/do/press_release_Detail13.  Source: Chadwick Martin Bailey and iModerate Research Technologies http://www.imoderate.com/main/newsID/50/do/press_release_Detail14.  Source: Digital Surgeons http://www.digitalsurgeons.com/facebook-vs-twitter-infographic/15.  Source: Chadwick Martin Bailey and iModerate Research Technologies http://www.imoderate.com/main/newsID/50/do/press_release_Detail16.  Source: Chadwick Martin Bailey and iModerate Research Technologies http://www.imoderate.com/main/newsID/50/do/press_release_Detail Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 27
    • References ERIN GERALD17.  Source: Erik Qualman, 5/2010 Social Media Revolution Video, http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/18.  Source: Erik Qualman, 5/2010 Social Media Revolution Video, http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/19.  Source: Erik Qualman, 5/2010 Social Media Revolution Video, http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/20.  Source: Wikipedia http://en.wikipedia.org/wiki/Apple_App_Store21.  Source: Wikipedia http://en.wikipedia.org/wiki/Groupon22.  Source: LinkedIn http://press.linkedin.com/about/23.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends Presentation, Slide 7 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-201124.  Source: Gartner http://www.fiercemobilecontent.com/story/gartner-forecasts-mobile-web-access-will-surpass-pcs-2013/2010-01-1325.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends Presentation, Slide 21 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-201126.  Source: Gartner http://www.fiercemobilecontent.com/story/gartner-forecasts-mobile-web-access-will-surpass-pcs-2013/2010-01-1327.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends Presentation, Slide 36 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-201128.  Source: Bain & Company http://www.bain.com/bainweb/Consulting_Expertise/capabilities_detail.asp?capID=102 Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 28