Social Media in Business


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Presentation given to the Cincinnati Electrical Contractors Association, November 2011

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Social Media in Business

  1. 1. Social Media in Business
  2. 2. Some data…
  3. 3. Adult Usage Grows from 8% to 65%Social Network Site Use Growth% of online adults, 2005-2011Source: Pew Internet & American Life Project Pew Research found that two- 61% 65% thirds of adult internet users (65%) now use a social 46% 43% networking, up almost 7% from 38% 29% one year ago (61%), 27% 16% This is about eight times the 8% 13% 9% number in 2005. 2% 2005 2006 2007 2008 2009 2010 2011 Ever Yesterday The Social Media Data Stacks 3
  4. 4. Only email (which 61% of internet users access on a typical day) and search engines (which 59% use on a typical day) are used more frequently than social networking tools.The Social Media Data Stacks 4
  5. 5. Relative usage on social channelsTop 10 U.S. Web Brands by Aggregate Time SpentU.S. web users monthly minutes in billions, home and workSource: The Nielsen Company Facebook 53.5 Facebook: 53.5 billion Yahoo 17.2 minutes per month. Google 12.5 AOL Media 11.4MSN/Windows Live/Bing 9.5 YouTube ranks YouTube 9.1 Ebay 4.5 sixth, claiming 9.1 EA 4.3 billion user minutes Apple 4.3 Microsoft 3.4 per month. The Social Media Data Stacks 5
  6. 6. 55+ Users Double Mobile VisitsSocial Network Growth, by Age, Ethnicity% change, Q3 2010 v. Q3 2011Source: The Nielsen Company More than twice as many people age 55 109% and older visited social networks on 76% 68% 70% 67% 61% their mobile phone in 45% 41% 44% 37% Q3 2011 compared to 16% Q3 2010,. That’s a jump of 109% year- over-year. The Social Media Data Stacks 6
  7. 7. 51% Access Facebook via MobileFacebook, Twitter Reach among Smartphone Users3-month average, ending June 2011Source: Experian Hitwise 50.9% Slightly more than half of U.S. smartphone owners 31.7% (50.9%) access Facebook 12.5% on their device 7.4% U.S. smartphone users European smartphone users Facebook Twitter The Social Media Data Stacks 7
  8. 8. 68% Challenged by Social MediaMarketing Challenges Reported by CMOs% of respondents, October 2011Source: IBM Nearly seven in Data explosion Social media 71% 68% 10 (68%) Growth of channel 65% and device choices Shifting consumer demographics 63% marketing Financial constraints 59% Decreasing brand loyalty 57% executives feelGrowth market opportunities 56% ROI accountability Customer collaboration 56% unprepared for 56% and influence Privacy considerations Global outsourcing 55% 54% the demands Regulatory considerations 50% Corporate transparency 47% The Social Media Data Stacks 8
  9. 9. 8 in 10 Connect to Brands on FacebookPreferred Social Network for Brand Connection% of social network users, May 2011Source: Edison Research and Arbitron 6% 3% 5% 80% of US social 6% 80% Facebook Twitter network users LinkedIn Other connect with brands Dont know through Facebook. The Social Media Data Stacks 9
  10. 10. Social Sites Impact 35% of ShoppersCommunity, Social Tools that Impact Buying% of respondents, June 2011Source: e-tailing group, PowerReviews About six in 10 (59%) User-generated product reviews 59% online shoppers say Online customer Q&A on product website 42% user-generated Community forums (conversations between 26% customers) customer product User-generated videos 15% Facebook company 13% reviews have a fan pages Facebook newsfeed (friends talking about products) 13% significant or good Mobile (iPhone app, text alerts) 9% impact on their buying Twitter (monitor, respond to, and post 9% tweets) behavior. The Social Media Data Stacks 10
  11. 11. Consumers Expect Something for “Like”Consumer Expectations for Brand Liking ExactTarget reports that% of Facebook users, September 2011Source: ExactTarget more than six in 10 Expect access to exclusive 58% content, events or sales (63%) Facebook users Expect discounts or promotions through Facebook 58% who “like” a brand or Expect to receive updates about the co. to the newsfeed 47% Expect the company to post product on Facebook updates, photos or videos to newsfeed 39% Expect to share with friends, 38% expect something in family and/or coworkers Expect the name of co. to show up on my profile 37% return - access to Do not expect anything to happen 37% exclusive content, events Expect the co. to send more relevant content based on my public profile 36% or sales, and discounts Expect to interact with page 28% owner (e.g., brand, person) or promotions through Expect the co. to access data in my public profile 27% Facebook. Expect the co. to contact me through other channels 24% The Social Media Data Stacks 11
  12. 12. On Average, 29% Seek Purchase Advice Social Networks as a Source of Purchasing Advice % of respondents who sought advice, June 2011 Source: ROI Research and Performics 46% 42% 39% 34% 33% 33% 31% 30% 28% 28% 26% 25% 24% 23% 22% 21% 19% 17%The Social Media Data Stacks 12
  13. 13. Quick Examplesof Social Media Applications
  15. 15. Community Events – critical bridge in helping virtualfriends become real-life contacts.
  16. 16. Customer Focus
  17. 17. SEOHow to make sure you are found on the internet • Use offsite and onsite SEO. • Make sure the search engine spiders can access your site. • Tell your story, provide reasons for people to keep coming back. • Keyword research and monitoring . • Monitor traffic for trends, make adjustments. • Use HTML Tags and Coding. • Keep fresh, consistently updated content. • Offsite optimization – Back Link Building. • Integrate Social Media sharing to your content.
  18. 18. Content Management Planning… the hardest part.
  19. 19. Its personal… you have to keep it that way.
  20. 20. Marketing is in everything.
  21. 21. What do I say? Chip Heath’s research focuses on two general areas: What makes ideas succeed in the social marketplace of ideas, and how can people design messages to make them stick? Professor of Organizational Behavior in the Stanford Graduate School of Business. . Prior to joining Stanford, Professor Heath taught at the University of Chicago Graduate School of Business and the Fuqua School of Business at Duke University. He received his BS in Industrial Engineering from Texas A&M University and his PhD in Psychology from Stanford.
  22. 22. What do I say? Human decision making is like a tiny rider on a massiveelephant. The rider may think he’s in charge, but the elephant’s willalways wins. Both are imperfect – the rider over-thinks and over- analyzes. The elephant acts on passion and emotion.
  23. 23. Heath’s advice for causing change was three-pronged: 1. Direct the rider 2. Motivate the elephant 3. Shape the path
  24. 24. What do I say?Direct the rider:Humans obsess about problems. You have to give themclarity and consistency. Your purpose and your values andthe messages you want to convey must be carefullyplanned out and executed on schedule.
  25. 25. What do I say?Motivate the Elephant:The elephant is all about emotion and instant gratification - youhave to motivate the elephant to get people’s attention.People often react better to a good story than heaps of data. Tella story and allow your listeners to draw their own conclusions(which ideally match up with yours).
  26. 26. What do I say?Shape the path:Make the situation and the environment such that thedesired behavior is frictionless.“What looks like a people problem is often a situationproblem,” Heath explained. If you remove every singlebarrier between people and the actions you want themto take , it makes it easier for them to act.
  27. 27. Social Media is just one part of marketing……it cannot happen in a vacuum.
  28. 28. Business cannot be done in a vacuum either.
  29. 29. • If you don’t talk to your customers, someone else will.• People are talking about you, whether you choose to listen or not. Its better to be part of the conversation than to be unaware.• Your greatest asset is your reputation. It can be your greatest downfall if neglected. You have to protect it and nurture it.• Now more than ever before we have the tools to really listen to our customer and understand what they want.
  30. 30. Maureen 859.653.6774