How To Make Money With Social Media

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Here's a hands-on guide to what tools you can use to make money from social media.

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How To Make Money With Social Media

  1. 1. HOW TO MAKE $$$ WITH SOCIAL MEDIA Presented by David Libby
  2. 2. Who is David Libby? He is not a social media “strategist”… He is not a social media “guru”… He is just like you… A small business entrepreneur… Who likes to tinker with stuff… And take apart calculators and turn them into spaceships… There is no limit to what you can do too…
  3. 3. What is social media? How should we think about it? It's not about talking "at" customers and prospects....... It's about creating and engaging with your communities. - Press - Analysts - Bloggers - Consumers - Businesses - Partners - Investors - and more…
  4. 4. You've heard of the tools..... • Blogs (Typepad, Wordpress, Blogger, etc.) • Micro-blogs (Twitter, Yammer, etc.) • Social networks (Facebook, MySpace, FriendFeed, etc.) • Video sharing (Flickr, YouTube, etc.) • Photo sharing (Shutterfly, and others we won’t mention…) • Discussion Groups (Yahoo Groups, Google Groups, etc.) • List Serves (this is where I date myself) • Podcasts (iTunes) • Virtual worlds (SecondLife, There, etc.) • Wikis (PBWiki, etc.) • Applications/widgets (Gigya, RockYou, Slide, etc.) But there will be more. The landscape is changing rapidly.
  5. 5. Innovative businesses will lead social media… • Ideas will drive social media success, the tools won’t • Audits will capture what’s being done, and where best practices could be applied • Opportunities will arise identified by your research • Social media guidelines will chart the course • Smart communicators will take calculated risks • And, no, your head will not explode…
  6. 6. Social media's growth is also unstoppable. Spending on social media marketing reached $1.35bn in 2007 and is expected to reach $3.7bn by 2011, according to the Word of Mouth Marketing Association.
  7. 7. Social media is the new paradigm… • Companies can efficiently engage with customers. • It's not just about “one-to-many” anymore. • Spraying people with messages through advertising and PR is no longer enough. • This is a very good thing.
  8. 8. Can social media replace advertising and PR? No. But they are highly complementary. Companies still must think of advertising and PR as playing the same roles that they always have.....social media does provide new venues for distribution. But it's much more than that.
  9. 9. Social media strengthens bonds with influential customers and prospects… which ultimately generates word-of-mouth. It can go beyond marketing – anywhere there is communication of any kind in your organization, social media can make it deeper, stronger, and better. It is now playing an integral role for companies in: • Brand building • Lead generation • Product or service launches • Customer retention • Partner and channel communication • R&D • Thought leadership • Internal communications • Media relations • Crisis management
  10. 10. To launch a new product or service, social media exponentially boosts the power of creative promotional ideas. It can drive publicity on its own. And when coupled with advertising, can drive large numbers of new customers quickly.
  11. 11. Do people really want to interact with companies in social media? Yes. • 93% believe a company should have presence on Social Media sites • 42% of adults and 55% of youth want to interact with their favorite brand through one or more social media tools. Sources: RWW/Cone ResearchForrester Research
  12. 12. And, people do different things online. The key is to find out what your clients’ audiences are doing.
  13. 13. How can social media efforts be measured? Easily. You just have to decide what you want to measure. Blog posts (through blogging platforms) Reader comments (http://www.eCairn.com) Twitter mentions (http://search.twitter.com) Twitter influence (http://www.twitalyzer.com) Facebook fans (Facebook Insight) Links (through blogging platforms) RSS subscribers (Google Analytics) Google trends (Google Analytics) Alexa rankings (http://www.alexa.com) Search results (http://www.google.com or Firefox plugins) Nielsen buzz metrics (http://www.nielsen.com) Social Graph (http://www.scoutlabs.com) Video views (http://www.youtube.com) Podcast subscribers (http://www.itunes.com) And more…
  14. 14. There is no secret sauce, but… there are tools you can use to improve your work, and how your customers perceive you…such as… Twitter - Twazzup (http://www.twazzup.com) - track your twitterverse - TweetDeck (http://www.tweetdeck.com) - track conversations - Twitter Search (search.twitter.com) - track groups and handles - Bit.ly (http://bit.ly) - short and distribute URLs Facebook - Pages, not Groups - optimize Facebook, place social ads - Facebook browser toolbar - post from the web - InsideFacebook (http://www.insidefacebook.com/) - follow Facebook - Facebook Badge - promote your Pages - Facebook Social Ads / Advertising / Polls - measure audience response - Applications - expand interactions with your customers LinkedIn - Personalized URLs - optimize your profile
  15. 15. There is life beyond Twitter… And those tools are: - DIGG (http://www.digg.com) - Delicious (http://www.delicious.com) - StumbleUpon (http://www.stumbleupon.com) - Reddit (http://www.reddit.com) - Unhub (http://www.unhub.com) - FriendFeed (http://www.unhub.com) - Posterous (http://www.posterous.com) - Tweetmeme (http://www.tweetmeme.com) - Yelp (http://www.yelp.com) -Ning.com (http://www.ning.com) -Tumblr (http://www.tumblr.com) -Squidoo (http://www.squidoo.com) or AllTop (http://www.alltop.com) -Ice Rocket (http://www.icerocket.com) -Flaptor (http://twittersearch.flaptor.com) -TweetScan (http://www.tweetscan.com) -BackTweets (http://www.backtweets.com)
  16. 16. And then there’s the blunders… On -Twitter Agency X tweeted about a new hire not linking applicants back to the job listing -Facebook Client Y created a fake Facebook profile -LinkedIn Client Z pulled together a profile, and then didn’t do anything with it -MySpace Agency Y didn’t even mention MySpace to Client W
  17. 17. The Webby goes to…
  18. 18. Now what are you going to do? 1)  Audit your social media landscape 2)  Review what you’re doing on PR 3)  Get ideas based upon what your competition is doing and not doing, and put that inline with your current PR program 4)  Keep it simple and small, baby step your way into social media 5)  And, if you’re social media savvy, augment it 6)  Take existing PR and socialize it 7)  Create new blogs, websites, and applications 8)  Most importantly: don’t forget your core business and… 9)  Always integrate social media, marketing, advertising, and PR because… 10) The real winners understand that “communications” is replacing “public relations” Now, go get ‘em!
  19. 19. HOW TO MAKE $$$ WITH SOCIAL MEDIA Presented by David Libby @davidlibby on Twitter http://www.inspiringdialogue.com dlibby@twopinspr.com

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