How to Grow Your Buiness with Social Media

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Are you interested in Social Media ROI or Social Media Best Practices? Then check out this deck from Jamie Turner,co-Author of "How to Make Money with Social Media."

These slides contain plenty of statistics and data on social media and how to use social media.

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How to Grow Your Buiness with Social Media

  1. 1. How to Grow YourBusiness with Social Media Jamie Turner Co-author, How to Make Money with Social Media and Go Mobile Chief Content Officer, the 60 Second Marketer
  2. 2. Introductions• Co-author of How to Make Money with Social Media and Go Mobile• Regular guest on CNN and HLN on the topic of social media and mobile marketing• Consults with small, As Seen On medium and large corporations
  3. 3. Twitter Handle: @AskJamieTurnerI’m watching @AskJamieTurner present “How to GrowMy Business with Social Media” sponsored by T-Mobile
  4. 4. AgendaAgenda Item Time Allotment• How Consumers Make 55 minutes Buying Decisions• How to Use Social Media 55 minutes to Connect with Customers• New Tips and Techniques 55 minutes in Mobile Marketing• Applause 3 hours
  5. 5. Tell Me About You
  6. 6. 60 SecondSocial Media Snapshot 7
  7. 7. 60 Second Social Media Snapshot• Rate yourself on Strategic a scale for part time vs. full time• Rate yourself on a scale for tactical vs. Part Time strategic Full Time Tactical
  8. 8. 60 Second Social Media Snapshot• Rate yourself on a scale of 1 to 10 for part time vs. full time• Rate yourself on a scale of 1 to 10 for tactical vs. strategic
  9. 9. 60 Second Social Media Snapshot• Rate yourself on a scale of 1 to 10 for part time vs. full time• Rate yourself on 1 a scale of 1 to 10 for tactical vs. strategic
  10. 10. 60 Second Social Media Snapshot• Rate yourself on a scale of 1 to 10 for part time vs. full time• Rate yourself on 1 a scale of 1 to 10 for tactical vs. strategic 2
  11. 11. 60 Second Social Media Snapshot• Rate yourself on a scale of 1 to 10 for part time vs. full time• Rate yourself on 1 a scale of 1 to 10 for tactical vs. strategic 3 2
  12. 12. 60 Second Social Media Snapshot• Rate yourself on a scale of 1 to 10 for part time vs. full time• Rate yourself on 4 1 a scale of 1 to 10 for tactical vs. strategic 3 2
  13. 13. How People Make Buying Decisions
  14. 14. The AIDA Model of Consumer Behavior Consumer Response Models Presentation, Cognition Awareness, Attention Awareness Attention, Phase Knowledge Comprehension Liking, Affective Interest, Yielding, Interest, Desire Preference, Phase Evaluation Retention Conviction Behavioral Action Purchase Adoption Behavior Phase
  15. 15. How People Make Buying Decisions • A 30¢ pack of gum takes 30 seconds • A $300 TV set takes 3 days • A $30,000 car takes 30 days • A $300,000 house takes 3 months
  16. 16. How People Make Buying Decisions • 70% of consumers make purchase decisions based on input from people they know • 40% will use information from experts or other consumers • Only 5% trust marketers
  17. 17. How People Make Buying Decisions
  18. 18. How People Make Buying Decisions Female Brain
  19. 19. How People Make Buying Decisions Female Brain Male Brain
  20. 20. Why People Don’t Buy Products • I don’t need what you’re selling • I don’t have the money • I don’t have the time to investigate this right now • I don’t trust you
  21. 21. Let’s Talk About Social Media
  22. 22. Yesterday: The Good Old Days
  23. 23. 21st Century Marketing Model
  24. 24. How the Fortune 500 Make Money withSocial Media
  25. 25. Social Media Business ModelsBranding: Use social media as a branding tool to build awareness andconnect with customers
  26. 26. Social Media Business ModelsE-Commerce: Drive prospects to an e-commerce landing page and convertthose prospects to customers
  27. 27. Social Media Business ModelsResearch: Use social media as a research tool to generate customer inputand feedback
  28. 28. Social Media Business ModelsCustomer Retention: Use social media as a customer retention tool to reducechurn
  29. 29. Social Media Business Models Lead Generation: Drive leads to a website and re-market to those leads, ultimately converting them to customers E-Newsletter YouTube Channel Email Marketing Forums Speeches You Live Events Twitter eBooks Virtual Events Mobile Apps Blog Postings Webinars
  30. 30. Social Media Tools and Techniques Connect Promote Share
  31. 31. Tools that Help You Connect Connect
  32. 32. Tools that Help You Connect
  33. 33. Tools that Help You Connect
  34. 34. Tools that Help You Promote Promote
  35. 35. Tools that Help You Promote
  36. 36. Social Media Tools and Techniques Share
  37. 37. Social Media Tools and Techniques
  38. 38. Social Media Tools and Techniques
  39. 39. How to Measure a Social MediaCampaign
  40. 40. Three Categories of Measurement Quantitative Qualitative ROI • Facebook fans • Survey responses • Marketing mix • Twitter followers • Customer feedback models • Unique page views • Brand sentiment • Conversions and • Etc. • Etc. NPV • CLV and ACPS • Etc.
  41. 41. Quantitative
  42. 42. Quantitative: Traffic
  43. 43. Quantitative: Online Chatter
  44. 44. Quantitative: Breadth of Engagement
  45. 45. Quantitative: Leads Generated 60 Second Marketer Website E-Newsletter YouTube Videos Forums Speeches Downloads Events Twitter eBooks Blog Postings :60 Online :60 Online University Blog Online Seminars University Articles and Webinars
  46. 46. Quantitative: Depth of Engagement
  47. 47. Other Quantitative Metrics1. Inbound links2. Social bookmarks3. Likes on Facebook4. E-book downloads5. Ratings6. Participation in polls7. Contest entries8. New e-newsletter subscribers9. E-newsletter unsubscribers10. Bounce rate
  48. 48. Qualitative
  49. 49. Qualitative: Polls, Questions andCustomer Feedback
  50. 50. Qualitative: Polls, Questions andCustomer Feedback
  51. 51. Qualitative: Brand Sentiment
  52. 52. ROI
  53. 53. ROI: Customer RetentionIt costs 3 to 5 times as much toget a new customer as it doesto retain an existing customer.By keeping customers engaged,involved and active with yourbrand, you’ll be preventing themfrom changing their loyalty. 60SecondMarketer.com -> Videos -> Branding
  54. 54. ROI: Customer Retention
  55. 55. ROI: Conversion
  56. 56. Calculating Customer Lifetime ValueThe revenue generated by a customerduring his or her lifetime with your brand.CLV for Scott’s Lawn Care:$80 per month x 12 months x 3.0 yearsCLV = $2,880Allowable Cost Per Sale:$2,880 x 10% = $288
  57. 57. Calculating Customer Lifetime ValueScott’s Direct Mail:200 pieces x 0.5% = 1 new customer$1.44 per piece x 200 = $288Allowable Cost Per Sale = $2881 customer for every $288 spentScott’s Annual Direct Mail Spend:$2.8 million = 2 million pieces x 0.5% =10,000 new customers per year
  58. 58. Calculating Customer Lifetime ValueTesting Direct Mail vs. Social Media$2.8 million x 10% = $280,000 to test a social mediacampaignSocial media campaign costs:Labor: $140,000Production: $100,000Miscellaneous: $ 40,000Total: $ 280,000Social media success:$280,000 spent in direct mail = 1,000 new customers$280,000 spent in social media = ?
  59. 59. 60SecondMarketer.com/SocialMediaROI
  60. 60. Contact MeThe Download60SecondMarketer.com/SocialMediaROIFollow me here:60SecondMarketer.com/blog@AskJamieTurnerContact me:Jamie.Turner@60SecondMarketer.com404-233-0332

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