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Social Media: Technology Enabling Small Business Success<br />Angela Hausman, PhD<br />Howard University and MarketingThatWorks.TV<br />202-806-1676<br />

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What is Social Networking ?<br />COMMUNITY<br />Real community is dying (Putnam)<br />Increased isolation<br />More time in electronic worlds<br />Busier<br />Uses a variety of social platforms<br />Traditionally text based<br />Pictures<br />Video<br />Allows fluidity in self-presentation<br />

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What is Social Media?<br />Relies on customer sharing in social platforms to spread commercial message to social graph<br />Individuals share messages because it builds celebrity and status<br />A social graph changes its attitudes, behaviors or shares messages based on social capital<br />Influence assessed by Klout and <br />PeerIndex<br />Social capital -- respect,<br />authority, trust, and reciprocity<br />Social capital = personal brand<br />Similarity between individuals <br />in the social graph<br />

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Small Businesses are Using Social Media<br />1/3 of small businesses use social media http://www.readwriteweb.com/biz/2010/10/one-third-small-businesses-use-social-media.php<br />61% of small business owners use social media http://www.briansolis.com/2010/05/social-media-in-small-business-is-anything-but-small/<br />Citibank found 86% of small businesses are NOT using social media http://news.cnet.com/8301-1023_3-10374886-93.html<br />

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Consumers are Using Social Networks<br />600+ million profiles on Facebook<br />175+ million users on Twitter tweeting <br />95 million tweets per day<br />50+ million users on LinkedIn<br />3+ million users on Foursquare<br />

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Social Platforms - Facebook<br />Anatomy of a Facebook page - profile page<br />Benefits<br />Large number of users<br />Easy sharing from 1 consumer to another<br />Commercial operations<br />Shopping - 1800 Flowers<br />Relationship building – Dell; Oreos<br />Fan generated fanpages - Coke<br />Contests – Levis<br />Causes - The Body Shop<br />Groups<br />Drawbacks<br />Difficult to build connections<br />May not appear on newsfeed<br />

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Social Platforms – Twitter -coke<br />Benefits<br />Growing faster of all platforms<br />Corporate presence<br />Easy to build connections<br />Searchable via #<br />Drawbacks<br />140 character limit<br />Lack of temporal permanence<br />Vast number of Tweets<br />

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Social Platforms - LinkedIn<br />Professional focus<br />New! Company profiles<br />Groups<br />Creating Connections<br />Sharing messages<br />Attempts to increase engagement<br />

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Social Platforms – Foursquare and other location-based apps - Panera<br />Benefits<br />Fun and challenging for consumers<br />Gives consumers a voice<br />Helps consumers relate to friends<br />Helps companies build relationships<br />Helps local companies spread the word<br />Drawbacks<br />Counterfeit check-ins<br />Spreads negative sentiments<br />

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On Site Tools with Location-Based Marketing<br />Shopkick<br />Radio wave reader<br />Detect patterns of shopping<br />Incentivize shoppers<br />QR Codes<br />Smartphone readers<br />Incentivize shoppers<br />Temporal optimization<br />

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Mobile<br />Increased mobile access<br />Smartphones project over 1 Billion by 2013<br />Tablets – over 40 options by end of 2011<br />Auto access<br />Wireless laptops/ mobile hot spots<br />Laptops with modems<br />Opportunities<br />Changes in websites<br />

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Blogging - Hausman Marketing Letter<br />Weblogs increasingly prevalent<br />Originally journalists<br />More CEOs, CMOs, etc.<br />Average consumers<br />Prominent feature of websites<br />Advantages over static websites<br />SEO<br />Timeliness<br />Interactive<br />

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How Blogging Works<br />Set up website in Wordpress or Joomlar<br />Write content or have guest bloggers<br />Share content and encourage comments<br />Organize content into categories and pages<br />80/20 rule – 80 % of content should be supportive of others and 20 % self-promotion<br />Continually provide additional comment<br />

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Facebook and Twitter dominate <br />Social Media in small businesses<br />While small businesses use Facebook<br />more, their customers are<br />Tweeting about them.<br />Consumers are more likely to share<br />a Facebook message than a Tweet.<br />Most small businesses owners share<br />information frequently.<br />Fan pages get more interaction than<br />personal profile pages.<br />

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Measuring – Return on Investment<br />Mostly uncharted territory<br />What to measure<br />Influence<br />Klout, PeerInfluence, Technorati<br />Followers, Friends, Fans, Visitors …<br />Conversion<br />Online, offline, when, …<br />Determining cause and effect<br />Tools<br />Radian6<br />Google Analytics http://ow.ly/4dymm<br />Others<br />

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Measures of Success<br />

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Conversion<br />

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Monitor - Listening<br />Reputation management<br />Uses Radian6 or other tools, as does measuring<br />Code for sentiment or add to spreadsheet<br />Transmit relevant to decision makers and customer service<br />Track changes over time<br />Market Research<br />Influencers<br />Unmet needs<br />Level of satisfaction<br />

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Administration Support<br />Knowing WHAT to Listen To<br />Information Overload<br />Privacy Barriers<br />External requirements<br />Benchmarking<br />Market Research<br />Language and cultural meaning<br />Integration into strategy and customer support function<br />Listening Problems<br />

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SEO – Search Engine Optimization<br />Getting found<br />1st page, 1st position<br />Algorithms <br />Title, tags, meta-description, keywords<br />Unique, valuable content<br />Engagement - SMM<br />Pageviews<br />Getting Visitors<br />Headlines<br />Snippets<br />Visuals<br />

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How to Put it All Together<br />Linking social networks<br />Coordinating online and offline activities<br />Sharing across multiple platforms<br />Unique requirements, limitations, and opportunities of each<br />Timing<br />Consistency<br />Planning<br />Hootsuite<br />Increased difficulty in monitoring and listening<br />

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Costs of Social Media <br />Tangible<br />Website<br />SEO, Developer<br />Organizational<br />Time for engagement<br />Time for content creation<br />Time for listening<br />Intangible<br />Damage from not listening<br />Opportunity costs<br />Competitive irrelevance<br />

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Questions<br />Corporate Website: http://MarketingThatWorks.TV<br />Blog: http://hausmanmarketresearch.org<br />Twitter: @MarketingLetter<br />Facebook: http://facebook.com/angelahausman<br />