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Social Media - Why use it? What's the ROI?


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Elisabeth Goodman's passion is to help people help themselves. The main thrust of her business, RiverRhee Consulting, is to teach and support teams in the use of a wide range of capabilities to help them work more effectively and efficiently. But Elisabeth has also, at various times, found herself teaching individuals and small business owners how to use Social Media tools such as LinkedIn, Twitter, Facebook and blogs to develop themselves and their businesses. So why would you want to use Social Media tools and, if you are already using them, how can you ensure that you get some benefit from them without frittering away every hour of your working or indeed home life? In this 15 minute overview, Elisabeth shares examples of how she and others have used Social Media tools to support personal and business development, along with some suggestions for how to maximise your ROI.

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Social Media - Why use it? What's the ROI?

  1. 1. © RiverRhee  2013  Social  Media  –  why  use  it?  What’s  the  ROI?  Elisabeth  Goodman  Cambridge  Network    Breakfast  25th  April  2013  Enhancing Team Effectiveness
  2. 2. © RiverRhee  2013  15  minutes  to  explore!  1.  RiverRhee’s  /  my  experience  of  Social  Media  2.  Other  people’s  experience  (from  the  survey)  3.  Challenges  and  .ps  for  ROI  4.  Further  reading!  
  4. 4. © RiverRhee  2013  Why  am  I  teaching  people  about    Social  Media  tools?  A  good  adjunct  to  my  business  1.  I’ve  learnt  how  to  use  social  media  tools  to  meet  my  needs  over  several  years  2.  People  have  been  asking  me  to  teach  them  3.  Social  media  tools  are  a  good  fit  with  Knowledge  Management  –  They  enable  people  to  share  what  they  know  and  learn  from  others  My  stats..  •  LinkedIn  –  Since  March  2006    –  758  connec.ons  •  Blogs  (Wordpress)  –  Since  July  2009;    –  609  followers;  77  posts  •  Twi`er  –  Since  Aug  2009  –  570  followers;  2400+  tweets  •  Facebook  –  Since  Dec  2009    •  Google+,  Pinterest  –  early  days  
  5. 5. © RiverRhee  2013  What  has  been  my  ROI  in  terms  of  paid  work?  Social  Media  training  /  1  to  1  tutorials  2009  -­‐>  St  John’s  seminars  2010-­‐  2011  Ar.cle  (in  FUMSI)  2012  Workshop  Cambridge  Network  2011  Work  with  previous  colleagues  Approx.  99%  &  75%  turnover  2010-­‐2011  Approx.  75%  turnover  2012/2013  New  clients  Gower  publishing  2012  -­‐>  Warm  leads  2013  New  associates  Collabora.on  2012  -­‐>  
  6. 6. © RiverRhee  2013  Social  Media  tools  also  deliver    other  ROIs  They  help  you  to:    Build  your  reputa.on      Build  your  network  of  connec.ons    Build  your  knowledge  They complement face-to-face networking and marketingto lead to referrals and clients..
  7. 7. © RiverRhee  2013  My  networking  &  media  Library  and  Informa.on  Science  Life  Sciences  Cambridgeshire  &  Herkordshire  Team  Effec.veness  NetKIX  CILIP  UKeIG  TFPL  Blogs  Twi`er  lists  OneNucleus  GSK  &  ex-­‐GSK  contacts  StevBioSciCat  Various    LinkedIn  groups  Twi`er  lists  The  Cambridge  Network  APM  East  of  England  Various    LinkedIn  groups  Blogs  Ex-­‐GSK  contacts  APM  IQPC  Associates  Facebook  OneNucleus  Melbourn  BA  Royston  CoC  LBIC  
  8. 8. © RiverRhee  2013  OTHER  PEOPLE’S  (SURVEY)  EXPERIENCE  OF  SOCIAL  MEDIA  8  
  9. 9. © RiverRhee  2013  Profile  of  19  respondents    (some  anonymous)  Robin  Higgons  Qi3  Ltd  Karen  James,  Lilac  James  QTP  Environmental  Ltd.  01223  269400  Amanda  Brown,  Managing  Director,  Alterra  Amanda@alterra-­‐  07947  502760  Mark  Collingwood  Tonic  Fusion  01727810254  Jamie  Lesinski,  Crossbar-­‐fx,  02031957136,  @jamielesinski  @crossbarfx  Ed  Goodman,  Cambridge  Business  Lounge,  01223  324040  Richard  Wishart,  Delivery  Management  Ltd  richard.wishart@del-­‐  Goncalo  Syndicate  room  Alexandra  Murphy  Cambridge  Network  1  –  25+  people  in:  Training    (Social  Media)  Financial  management  Mobile  phones  apps  Distributor    Payment  services  &  formula.on  Design  Informa.on  services  
  10. 10. © RiverRhee  2013  To  support  web  ac.vity  Main  reasons  for  using    Social  Media  Establishing  myself  as  a  world  wide  expert  Building  trust  with  clients  on  a  personal  level  Managing  contacts  and  keeping  in  touch  Job  promo.on  Lead  genera.on  Informa.on  gathering  Networking,  discussion  Other  par.cipants  are  clearly  and  strongly  linked  to  my  business  stream  to  target  markets  &  influencers  company  news  and  events  Personal  and  business  development  knowledge  Building reputationBuilding connectionsBuilding knowledgeTo  reach  our  network  without  spending  vast  amounts  of  money  
  11. 11. © RiverRhee  2013  Social  Media  tools  used  YouTubeeMarketing integrating social mediaNo other
  12. 12. © RiverRhee  2013  Time  spent  per  week  
  13. 13. © RiverRhee  2013  Your  ROIs  •  Much  greater  reach  to  new  and  clients.    •  Avoiding  “castle  guard  protec.on  systems”    •  Less  about  "them  and  us"  sales;  more  about  sharing  needs  and  solu.ons.  •  Get  a  real  feel  for  people’s  and  companies’  problems.    •  A  fresh,  personal  and  free  way  of  learning  more  about  clients  &  sharing  on  their  terms.  •  Engaging  my  client  with  a  specific  director  in  a  hotel  group  gained  a  contract  for  £100,000+  via  strategic  use  of  LinkedIn.    •  Another  client  gained  by  responding  to  Twi`er  ques.on  –  short-­‐term  project  valued  at  £1,500.  •  ‘Selflessly  content  important  to  clients  =  sort  of  statement  of  intent.    •  Retweets  by  others    -­‐  “I  do  consider  this  as  a  benefit”  •  Signs-­‐ups  and  direct  contacts  from  LinkedIn  •  Not  having  to  travel  so  much  to  overseas  conferences.    •  Maintaining  my  influence  networks  with  relevant  and  persuasive  original  content.  •   Followers  /  website  hits,  interac.ons,  contacts  and  business  (proposals)  (16)  •   None  (3)  
  14. 14. © RiverRhee  2013  CHALLENGES  AND  TIPS  FOR  ROI  14  
  15. 15. © RiverRhee  2013  Your  challenges  /  strategies  •  Effort  and  .me  vs.  ROI  •  Lack  of  flexibility;  customisa.on  •  Misuse  /  unprofessional  use  of  tools  by  others  –  Twi`er  -­‐  rescheduling  tweets  –  LinkedIn  -­‐  headlines  w/  no  follow-­‐up  interest  •  Ge|ng  corporate  and  worldwide  target  audiences  onto  the  tools  •  Confiden.ality  agreements  limit  what  we  can  share  •  Keep  up  to  date  by  con.nuously  researching  the  plakorms  and  developing  processes  to  streamline  their  effec.veness    (a  strategy)  •  Proper  training  applied  to  proper,  tailored,  strategy  –  Key  words  op.misa.on  –  Knowing  the  best  .me  of  day  to  post  on  each  plakorm  –  Keeping  it  relevant    –  Standing  out  in  a  sea  of  dross  –  Ve|ng  connec.ons  on  LinkedIn;  using  others’  connec.ons  for  introduc.ons  –  Using  the  tools  con.nuously  and  consistently  –  ‘Dance  as  if  no-­‐one  is  watching      
  16. 16. © RiverRhee  2013  A  possible  framework  for  your    social  media  strategy  Define  your  business  goals  Iden.fy  and  analyse  stakeholders  Assess  the  environment  –  what  else  is  happening?  Iden.fy  key  messages  Select  your  tools  &  their  use  Define  measures  of  success  &  monitor  
  17. 17. © RiverRhee  2013  10  top  .ps  for  greater  ROI  from  Social  Media  1.  Decide  what  you  want  to  use  Social  Media  for  (reputa.on,,  knowledge  etc.)  2.  Develop  a  strategy  3.  Create  personal  profiles  and  business  pages  4.  Make  your  target  customers  and  key  offerings  clear  throughout  5.  Listen  and  search,  acknowledge  and  support  others    6.  Match  your  frequency  and  tone  of  updates  to  the  tool  7.  Join  and  par.cipate  in  relevant  groups  (and  #tags)  8.  Use  ‘front-­‐ends’  that  help  you  to  connect  your  use  of  tools,  schedule  updates  etc.  9.  Have  links  to  your  Social  Media  profiles  from  your  web  site,  business  card  etc.    10.  Get  support  from  others  e.g.  –  Other  employees,  associates  post  links  to  your  Social  Media  business  pages,  retweet  etc.  –  Guest  blogs,    –  businesses  The 3’I’s: Inform, Interact, Inspire!
  18. 18. © RiverRhee  2013  A  list  of  further  reading  •  h`p://­‐reasons-­‐business-­‐blogging-­‐is-­‐be`er-­‐infographic/  •  h`p://­‐cuccureddu/six-­‐reasons-­‐why-­‐b2b-­‐twi`er-­‐audiences-­‐are-­‐poor-­‐quality  •  h`p://­‐­‐and-­‐genera.on-­‐y-­‐why-­‐business-­‐should-­‐welcome-­‐ways-­‐of-­‐working-­‐from-­‐a-­‐new-­‐genera.on  •  /h`p://­‐cuccureddu/forrester-­‐four-­‐major-­‐goals-­‐enterprise-­‐social-­‐networking-­‐integra.on  •  h`p://­‐cuccureddu/unlocking-­‐social-­‐technologies-­‐untapped-­‐­‐annual-­‐value-­‐13-­‐trillion  •  h`p://­‐to-­‐quote-­‐when-­‐your-­‐boss-­‐asks-­‐why-­‐do-­‐we-­‐need-­‐social-­‐media/  •  h`p://www.b2e-­‐­‐is-­‐not-­‐about-­‐roi-­‐but-­‐roe-­‐on-­‐social-­‐media?xg_source=ac.vity  •  h`p://­‐media-­‐pu|ng-­‐you-­‐and-­‐your-­‐business-­‐at-­‐the-­‐heart-­‐of-­‐your-­‐community/  
  19. 19. © RiverRhee  2013  07876  130  817  h`p://  LinkedIn:      h`p://    h`p://­‐  Facebook:  h`p://­‐  Blogs:        h`p://    h`p://  Twi`er:      h`p://twi`    Enhancing Team Effectiveness