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Iact social media mktg 102715

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Iact social media mktg 102715

  1. 1. Marketing Your Product on Social Media Cliff Ennico Attorney and Small Business Consultant 2490 Black Rock Turnpike, # 354 Fairfield, Connecticut 06825-2400, U.S.A. Tel.: (203) 254 1727 Fax: (203) 254 8195 e-Mail: crennico@gmail.com Web: www.succeedinginyourbusiness.com
  2. 2. Disclaimers • Views expressed in this program are Cliff Ennico’s own, and do not reflect the views of The Entrepreneurship Foundation, Fairfield University, its faculty or indeed anyone else. • Legal and tax information presented in this program SHOULD NOT be relied upon as legal or tax advice, which can only be given by a lawyer, accountant or other professional licensed to practice in your state. • Nobody knows everything there is to know about SM • “Do as I say, not as I do . . . “
  3. 3. Marketing 101 • It may be too late . . . • If you build it, they (very frequently) won’t come • Should do thorough market research before you develop product • Better yet, design your product with the market in mind (“lean startup”)
  4. 4. Marketing 101 • The “Four P’s” of Marketing – Product – Packaging – Pricing – Promotion • The Three Keys to Successful Marketing – Focus on prospect’s “fears” and “passions” • www.youtube.com, search for “Cliff Ennico channel” – Focus on “benefits,” not “features” – Don’t oversell: “Successful marketers have a touch of larceny in their souls”
  5. 5. What Is “Social Media”? • Also referred to as “Web 2.0” – a category of websites that is based on user participation and user-generated content • Or “the [illegitimate] stepchild of a website and a blog, incorporating the worst elements of each”  • Key: the site is “interactive” and (sometimes) “public”
  6. 6. Types of SM Sites • Networking sites – Facebook, Myspace, LinkedIn, Google+ • News and “bookmarking” sites – Digg, Newsvine, Delicious, Reddit • Media sharing sites – Flickr, Instagram, Pinterest, Snapchat • Microblog and “broadcast” sites – Tumblr, Twitter, Friendfeed, Plurk
  7. 7. Examples of “Social Media” Sites • LinkedIn®: commonly used for business networking, job searches, and recruiting • Facebook® and MySpace®: commonly used for friends/family members to keep in touch with each other; users can post what is on their minds for friends (or “fans”) to read • Twitter®: users post “tweets” of up to 140 characters that answer “what are you doing right now?” • YouTube®: users create and post videos to their “channel” • Instagram®: an online “bulletin board” for photographs and graphic images (owned by Facebook) • Pinterest®: another photo sharing site • Snapchat®: photo/video sharing site where posts disappear after one to 10 seconds like “Mission Impossible”
  8. 8. SM is Becoming All-Pervasive • More than 1 in 3 Americans have Facebook pages • Facebook is the largest country in the world (1.44 billion “monthly active” users; China has 1.36 billion people) • Twitter has roughly 236 million “monthly active” users • MySpace still has roughly 50.6 million users • Virtually every American between the ages of 10 and 25 is SM’ly active
  9. 9. Implications for Your Business • 80% of small business marketers plan to increase their use of SM this year* • 58% of small business marketers spend at least 10 minutes on SM marketing per day (46% more than one hour/day)* • Businesses gain a 185% lift in in Web traffic after achieving 1,000 Facebook “likes”* • Businesses with 51 to 100 Twitter followers generate 106% more traffic than those with 25 or fewer followers • Many businesses see an increase in their search engine rankings if they are active on SM* – * source: www.marketmesuite.com
  10. 10. Implications for Your Customers • 57% of businesses have generated customers through LinkedIn® – 48% Twitter® – 42% Facebook®* • 46% of online users count on SM when making purchasing decisions* • 50% of shoppers have bought something based on a recommendation made through SM* • 71% of SM users are more likely to buy from a business they are connected with through SM* – *source: www.marketmesuite.com
  11. 11. Implications for Society • Our lives are now much more public (“The Circle” by Dave Eggers) • We are untethered to a specific physical space, but tethered to our technology (and the Internet) • We all have personal brands that must be maintained (“Life: the Movie” by Neal Postman) • We all believe we have something to say or share (but are our lives truly unique?) • We believe “the crowd” knows more than individuals do • SM currency is reputation and perceived expertise, NOT experience, title or affiliation (“The Cult of the Amateur” by Andrew Keen)
  12. 12. SM Marketing: Getting Started • Know Your Objectives: Are You – Looking for new customers, – Looking to build “brand loyalty” among existing customers, – Building a professional network, and/or – Driving traffic to your business website? • Do Your Clients/Customers Hang Out on SM? • How Much Time Do You Have for Daily SM Activity? • Are You Running More Than One Business? – Some sites do not allow you to set up multiple SM pages with different “profiles” – May confuse people by having several businesses on one SM page
  13. 13. Why SM Is No Substitute for a Website • You can sell goods and services from your SM pages, BUT • The better practice is to use SM to drive traffic to your business Website and sell from there. • Why? – People expect that you have one; – You can keep 100% of the profits you make; and – You can use your own Terms of Service (TOS) and Privacy Policy rather than the SM site’s; – If you are selling creative works, you avoid some SM sites’ policy of “owning all rights” to images posted on the site
  14. 14. SM Marketing Tip # 1 • Share “cool, compelling content” to your target audience – Must be entertaining AND informative – How-to articles and video tutorials – Interviews – Webinars and Podcasts – Reviews and Ratings (but be careful!) – Market reports • “Pull,” don’t “push”
  15. 15. SM Marketing Tip # 2 • Share content to a SM platform when traffic is at its peak: – Facebook®: 1 pm to 4 pm EST – Twitter®: 1 pm to 3 pm EST – LinkedIn®: 7 am to 9 am, 5 pm to 6 pm EST – Google+®: 9 am to 11 am EST – Pinterest®: 2 pm to 4 pm, 8 pm to 1 am EST* • *source: www.marketmesuite.com
  16. 16. SM Marketing Tip # 3 • To start discussions and keep the “buzz” going, ask questions – DO ask “open ended” questions – DO ask questions about your industry or niche – DON’T ask “yes or no” questions – DON’T make every question about your products or services
  17. 17. SM Marketing Tip # 4 • Use SM for customer support and feedback collection – 50% of online customers expect SMBs to provide customer support on Facebook®, but only 23% actually do – Only 42% of SMBs use SM to solicit customer feedback; – 56% of customer “tweets” to SMBs are ignored; – 12% of SMBs do not take any action to respond to negative SMB posts* • *source: www.marketmesuite.com
  18. 18. SM Marketing Tip # 5 • Choose the Right SM Platform for Your Business – B2C businesses: Facebook® – B2B businesses and professional services: LinkedIn® – “Impulse” buys: Pinterest® and Instagram® – Entertainment: Myspace® – Celebrities and personal brands: Twitter® • * source: www.myaffordablemarketing.com
  19. 19. SM Marketing Tip # 6 • Stay Focused and Don’t Spread Yourself Too Thin – 30% of SMBs find LinkedIn® helpful; – 22% of SMBs find Facebook® helpful; – 14% of SMBs find Twitter® helpful; – 13% of SMBs find YouTube® helpful; – 7% of SMBs find Google+® helpful; – 2% of SMBs find Pinterest® helpful; – 11% of SMBs find other sites helpful.* • You Don’t Have to Be Everywhere, But Grab the Real Estate • Don’t Overlook “Microsites” for Highly Targeted Communities – *source: Wall Street Journal
  20. 20. SM Marketing Tip # 7 • Measure Your SM Performance – “Friends” and “followers” are great, but if they’re not generating sales, leads or website traffic, throw them under the bus – “Listening” to SM data in “real time” so you can • Benchmark against your competitors • Learn which demographics are most active • Track content performance • Top 50 SM analytics tools: http://socialmediatoday.com/pamdyer/1458746/5 0-top-tools-social-media-monitoring-analytics- and-management-2013
  21. 21. Legal Issues of SM Marketing [Part 1] • Your advertising on SM must be “truthful and not misleading” – Must be prepared to back up all claims • SM postings, blogs or reviews recommending products or services may qualify as “endorsements” or “testimonials” subject to FTC regulation: – Cannot say you use a product if in fact you don’t – May have to disclose if person making endorsement receives compensation of any kind for doing so
  22. 22. Legal Issues of SM Marketing [Part 2] • Your advertising “tweets” may violate anti-spam laws (CAN-SPAM Act of 2003) – You must give followers the chance to stop following you if they don’t want to receive your “tweets” – You cannot send “tweets” to people who have not registered as a follower, or who have ceased following you – Must include a physical mailing address in all “tweets” – Header must be honest and not misleading – Suggestion: personalize your “tweets” so you have a personal connection to your follower
  23. 23. Should You Post Specific Content to a SM Website? • The “political opponent” test: “If you were ever to run for public office, and your opponent’s campaign got hold of this posting, would you be concerned?”
  24. 24. Three Things Your Great-Grandma Knew About SM • “People judge you by the company you keep” • “To have friends, you must be a friend” • “If you can’t say something nice about someone, don’t say anything at all”
  25. 25. Resources
  26. 26. Questions and Answers Cliff Ennico Attorney, Author and Columnist 2490 Black Rock Turnpike, # 354 Fairfield, Connecticut 06825-2400, U.S.A. Tel.: (203) 254 1727 Fax: (203) 254 8195 e-Mail: crennico@gmail.com www.succeedinginyourbusiness.com

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