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

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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© RiverRhee	
  Consul.ng	
  2013	
  
Social	
  Media	
  –	
  why	
  use	
  it?	
  
What’s	
  the	
  ROI?	
  
Elisabeth	
  Goodman	
  
Cambridge	
  Network	
  	
  
Breakfast	
  Mee.ng	
  
25th	
  April	
  2013	
  
Enhancing Team Effectiveness
© RiverRhee	
  Consul.ng	
  2013	
  
15	
  minutes	
  to	
  explore!	
  
1.  RiverRhee	
  Consul.ng’s	
  /	
  my	
  experience	
  of	
  Social	
  Media	
  
2.  Other	
  people’s	
  experience	
  (from	
  the	
  survey)	
  
3.  Challenges	
  and	
  .ps	
  for	
  ROI	
  
4.  Further	
  reading!	
  
© RiverRhee	
  Consul.ng	
  2013	
  
RIVERRHEE	
  CONSULTING’S	
  /	
  MY	
  
EXPERIENCE	
  OF	
  SOCIAL	
  MEDIA	
  
3	
  
© RiverRhee	
  Consul.ng	
  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	
  
© RiverRhee	
  Consul.ng	
  2013	
  
What	
  has	
  been	
  my	
  ROI	
  in	
  terms	
  of	
  
paid	
  work?	
  
Social	
  Media	
  
training	
  /	
  
wri.ng	
  
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	
  -­‐>	
  
© RiverRhee	
  Consul.ng	
  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 marketing
to lead to referrals and clients..

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

  • 1. © RiverRhee  Consul.ng  2013   Social  Media  –  why  use  it?   What’s  the  ROI?   Elisabeth  Goodman   Cambridge  Network     Breakfast  Mee.ng   25th  April  2013   Enhancing Team Effectiveness
  • 2. © RiverRhee  Consul.ng  2013   15  minutes  to  explore!   1.  RiverRhee  Consul.ng’s  /  my  experience  of  Social  Media   2.  Other  people’s  experience  (from  the  survey)   3.  Challenges  and  .ps  for  ROI   4.  Further  reading!  
  • 3. © RiverRhee  Consul.ng  2013   RIVERRHEE  CONSULTING’S  /  MY   EXPERIENCE  OF  SOCIAL  MEDIA   3  
  • 4. © RiverRhee  Consul.ng  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. © RiverRhee  Consul.ng  2013   What  has  been  my  ROI  in  terms  of   paid  work?   Social  Media   training  /   wri.ng   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. © RiverRhee  Consul.ng  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 marketing to lead to referrals and clients..
  • 7. © RiverRhee  Consul.ng  2013   My  networking  &  marke.ng  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. © RiverRhee  Consul.ng  2013   OTHER  PEOPLE’S  (SURVEY)   EXPERIENCE  OF  SOCIAL  MEDIA   8  
  • 9. © RiverRhee  Consul.ng  2013   Profile  of  19  respondents     (some  anonymous)   Robin  Higgons  Qi3  Ltd  robin.higgons@qi3.co.uk   Karen  James,  Lilac  James   QTP  Environmental  Ltd.  01223  269400  infor@qtpe.co.uk   Amanda  Brown,  Managing  Director,  Alterra  Amanda@alterra-­‐ consul.ng.co.uk  07947  502760   Mark  Collingwood  www.tonicfusion.com  Tonic  Fusion   01727810254   Jamie  Lesinski,  Crossbar-­‐fx,  jamielesinski@crossbarfx.com   02031957136,  @jamielesinski  @crossbarfx   Ed  Goodman,  Cambridge  Business  Lounge,  01223  324040   Richard  Wishart,  Delivery  Management  Ltd  richard.wishart@del-­‐ mgt.com   Goncalo  Syndicate  room   Alexandra  Murphy  Cambridge  Network   alex.murphy@cambridgenetwork.co.uk   1  –  25+  people  in:   Training   Marke.ng     (Social  Media)   Accoun.ng   Financial  management   Mobile  phones  apps   Distributor     Payment  services   Analy.cal  &   formula.on   Design   Informa.on  services  
  • 10. © RiverRhee  Consul.ng  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  Communica.ng  to   target  markets  &   influencers   Promo.ng   company  news   and  events   Personal  and   business   development   Broadcas.ng   knowledge   Building reputation Building connections Building knowledge To  reach  our   network  without   spending  vast   amounts  of   money  
  • 11. © RiverRhee  Consul.ng  2013   Social  Media  tools  used   YouTube eMarketing integrating social media No other
  • 12. © RiverRhee  Consul.ng  2013   Time  spent  per  week  
  • 13. © RiverRhee  Consul.ng  2013   Your  ROIs   •  Much  greater  reach  to  new  and  exis.ng  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  retwee.ng'  content  important  to  prospec.ve  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. © RiverRhee  Consul.ng  2013   CHALLENGES  AND  TIPS  FOR  ROI   14  
  • 15. © RiverRhee  Consul.ng  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. © RiverRhee  Consul.ng  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. © RiverRhee  Consul.ng  2013   10  top  .ps  for  greater  ROI  from   Social  Media   1.  Decide  what  you  want  to  use   Social  Media  for  (reputa.on,   connec.ng,  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,     –  Marke.ng  businesses   The 3’I’s: Inform, Interact, Inspire!
  • 18. © RiverRhee  Consul.ng  2013   A  selec.ve  list  of  further  reading   •  h`p://malharbarai.com/2013/04/11/10-­‐ reasons-­‐business-­‐blogging-­‐is-­‐be`er-­‐ infographic/   •  h`p://www.damarque.com/blog/ gianluigi-­‐cuccureddu/six-­‐reasons-­‐why-­‐ b2b-­‐twi`er-­‐audiences-­‐are-­‐poor-­‐quality   •  h`p://cooperlomaznews.co.uk/teams-­‐ twee.ng-­‐and-­‐genera.on-­‐y-­‐why-­‐business-­‐ should-­‐welcome-­‐ways-­‐of-­‐working-­‐from-­‐a-­‐ new-­‐genera.on   •  /h`p://www.damarque.com/blog/ gianluigi-­‐cuccureddu/forrester-­‐four-­‐major-­‐ goals-­‐enterprise-­‐social-­‐networking-­‐ integra.on   •  h`p://www.damarque.com/blog/ gianluigi-­‐cuccureddu/unlocking-­‐social-­‐ technologies-­‐untapped-­‐poten.al-­‐annual-­‐ value-­‐13-­‐trillion   •  h`p://commconn.co.uk/2013/02/20/ what-­‐to-­‐quote-­‐when-­‐your-­‐boss-­‐asks-­‐why-­‐ do-­‐we-­‐need-­‐social-­‐media/   •  h`p://www.b2e-­‐community.com/profiles/ blogs/it-­‐is-­‐not-­‐about-­‐roi-­‐but-­‐roe-­‐on-­‐social-­‐ media?xg_source=ac.vity   •  h`p://elisabethgoodman.wordpress.com/ 2010/07/24/social-­‐media-­‐pu|ng-­‐you-­‐ and-­‐your-­‐business-­‐at-­‐the-­‐heart-­‐of-­‐your-­‐ community/  
  • 19. © RiverRhee  Consul.ng  2013   elisabeth@riverrhee.com   07876  130  817   h`p://www.riverrhee.com   LinkedIn:       h`p://www.linkedin.com/in/elisabethgoodman    h`p://www.linkedin.com/company/riverrhee-­‐consul.ng   Facebook:   h`p://www.facebook.com/pages/RiverRhee-­‐Consul.ng/243697391737   Blogs:         h`p://elisabethgoodman.wordpress.com     h`p://riverrheeconsul.ng.wordpress.com   Twi`er:       h`p://twi`er.com/ecgoodman     Enhancing Team Effectiveness