BizSoMe seminar

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BizSoMe seminar

  1. 1. Social Media for Business<br />Practical considerations, Tools and Strategies<br />Presented by<br />Richard Colback<br />
  2. 2. Why Social Media?<br />Millions of Conversations Taking Place<br />Influencers<br />Complaints<br />Compliments<br />Crises<br />Competitors<br />Crowd Opinion<br />Customer needs<br />Goal: Engage with your community to leverage their resources and provide them with valuable access, content and insights<br />5% of the people reach 95% of the Social media population<br />
  3. 3. Why Social Media?<br /><ul><li>3 out of 4 Americans use social media (Forrester, 2008)
  4. 4. 2 out of 3 of global internet population use social media (Neilsen, 2009)
  5. 5. 93% of social media users believe that a company should have a social media presence (Cone, Sept 2008)
  6. 6. 85% believe that a company should interact (Cone, Sept 2008)
  7. 7. 100,000,000YouTube videos viewed every day
  8. 8. > 13,000,000 Wikipedia articles
  9. 9. 3,600,000,000photos on Flickr (1 for every 2 people on the planet)
  10. 10. 1382% growth in Twitter Jan 2008 to Feb 2009</li></li></ul><li>Challenges with Social Media <br />
  11. 11. Social Media 2009<br />
  12. 12. Social Media in 2010<br />Move from experimentation to methodology<br /><ul><li>Divergence of CRM and Acquisition implementation
  13. 13. Integration of Social Media into other campaigns
  14. 14. Social Media in the budget: Agency vs. In-house
  15. 15. SM (Marketing) dept at center of business
  16. 16. Rules of Engagement or Regulations
  17. 17. Focused skills for focused results
  18. 18. Social goes Mobile: IPhone, Google phones, tablets </li></li></ul><li>Social Media Framework<br />Effective, sustainable, scalable social media programs all have, at their simplest, four major building blocks and operational elements:<br />1. Social Media program development<br />Astrategy- heavy function that starts with identifying business goals, then devising ways to leverage social media to accomplish those goals. <br />2. Social Media program integration<br />Almost exclusively an ops piece: How to “plug” social media into every business function, from customer service and marketing to HR, IT and Legal.<br />
  19. 19. Social Media Program Framework<br />3. Social Media program management <br />The execution of the program itself. Some examples of management functions are community management, online reputation management, keyword and conversation monitoring, content management, campaign management, etc.<br />4. Social Media program measurement<br />A function of marketing in 2010 that includes not only the actual measurement, but also calculation and analysis (the latter being very unique functions within measurement).<br />
  20. 20. Social Media Strategy<br />Defining a clear strategy can help reach social media goals, including:<br />- Sales- Registrations- Referrals- Links- Votes- Reduction in costs <br />- Decrease in customer issues- Lead generation- Conversion- Reduced sale cycles- Inbound activity<br />
  21. 21. Social Strategy<br />Management<br />Define the initial objectives<br />Find a champion<br />Outline employee policies<br />Create a social business dashboard <br /> <br />Marketing<br />Identify existing communities<br />Create a marketing plan <br />Develop individual channel strategies<br /> <br />
  22. 22. Social Strategy<br />Content and community<br />Identify existing communities<br />Develop community strategies and programs <br /> <br />Technology<br />Develop community strategies and programs <br />Develop your platform strategy<br /> <br />Communication<br />Publish an action plan<br /> <br />
  23. 23. Strategic Framework<br />Phase 1: Establish presence and policies <br /><ul><li>Define business objectives
  24. 24. Secure key brand names and online identity
  25. 25. Develop a social media policy
  26. 26. Appoint internal champion/evangelist
  27. 27. Establish a listening post
  28. 28. Monitor and respond to direct mentions
  29. 29. Use internal resources whenever possible
  30. 30. Consider using external resources for certain aspects</li></li></ul><li>Strategic Framework<br />Phase 2: Community focused engagement<br /><ul><li>Develop marketing plan
  31. 31. Identify and engage in relevant existing communities
  32. 32. Participate and create value for target group
  33. 33. Comment and engage on brand specific industry sites</li></ul> <br /><ul><li>Develop 3rd party platform strategy
  34. 34. Twitter
  35. 35. Facebook
  36. 36. Forums
  37. 37. LinkedIn </li></li></ul><li>Strategic Framework<br />Phase 3: Business Focused engagement<br /><ul><li>Launch proprietary community(s)
  38. 38. Jive / RightNow /Awareness / Blue Kiwi etc.
  39. 39. Develop multiple accounts to enable focused results
  40. 40. Launch focused campaigns and initiatives
  41. 41. PR / Corporate citizenry
  42. 42. Marketing
  43. 43. Service CRM
  44. 44. Human Resources</li></li></ul><li>Social Media Policy<br /><ul><li>Internal ‘Social Media 101’ interactive training course
  45. 45. Basics on how/why/where to engage in social media.
  46. 46. Who will have access to the sites
  47. 47. Rules about time spent and content posted on the sites
  48. 48. Develop a ‘201’ level ‘train-the-trainer’ course
  49. 49. More complete tools and tips.
  50. 50. Those who’ve taken this course are authorized to train others within their departments on the basics of social media. </li></li></ul><li>Social Media Policy<br /><ul><li>Develop an internal community (blog) that focuses on sharing lessons you are learning through social media outreach.
  51. 51. Follow the basic etiquette and/or rules of social media – transparency, openness, authenticity, and avoiding ‘pure traditional marketing’ plays, etc.</li></li></ul><li>Social Media Measurement<br />Traditional Metrics<br />Cost Savings<br /><ul><li>Shorter issue resolution time
  52. 52. Overhead costs of communication
  53. 53. decrease in support calls
  54. 54. recruiting costs
  55. 55. % account turnover</li></ul> <br />Business Development<br /><ul><li>Length of sales cycle
  56. 56. Repeat customers
  57. 57. Customer retention rate
  58. 58. New leads
  59. 59. Referrals
  60. 60. Transaction value
  61. 61. Customer lifetime value</li></ul> <br />
  62. 62. Social Media Measurement<br />Social Metrics<br />Value awareness and Influence<br /><ul><li>Brand loyalty
  63. 63. Sentiment
  64. 64. Share of conversation
  65. 65. Frequency of mentions
  66. 66. Net promoter score
  67. 67. Subscribers
  68. 68. Engagement
  69. 69. Number of inbound links
  70. 70. Votes , tags, bookmarks
  71. 71. Fans, followers, group members</li></ul> <br />Cost Savings<br /><ul><li>% of issues resolved (offline vs
  72. 72. Overhead costs of communication
  73. 73. Viable community driven innovation
  74. 74. Concept to development cycle</li></ul>Revenue and Business Development<br /><ul><li>Conversions (subscribers to sales)
  75. 75. Website purchases
  76. 76. Organic Search to sales
  77. 77. % of converted leads (offline vs online)</li></ul> <br />
  78. 78. Social Media Measurement: Emerging metrics<br />Social Metrics<br />Return on Engagement: The duration of time spent either in conversation or interacting with social objects, and in turn, what transpired that’s worthy of measurement.<br />Return on Participation: The metric tied to measuring and valuing the time spent participating in social media through conversations or the creation of social objects.<br />Return on Involvement: Similar to participation, marketers explored touchpoints for documenting states of interaction and tied metrics and potential return of each.<br />Return on Attention: In the attention economy, we assess the means to seize attention, hold it, and measure the response.<br />Return on Trust: A variant on measuring customer loyalty and the likelihood for referrals, a trust barometer establishes the state of trust earned in social media engagement and the prospect of generating advocacy and how it impacts future business.<br />
  79. 79. Social Media Presence<br />Your personal or business brand needs to be controlled by you. If you do not own the brand in Social Media, it may be defined for you<br />
  80. 80. Communities and Guidelines<br />First steps: Create individual profile with a photo. For new entrants to Social Media, listening to relevant conversations should be the main purpose of an account (recommended tool: Tweetdeck). <br />Business user guidelines: Once you are ready to engage on behalf of a company, you should not just promote the business interests. For effective engagement, value must be created for the community first.<br />
  81. 81. Twitter Tools<br />Twitter needs to be controlled and filtered. <br />Tweetdeck.com<br />Seesmic.com<br />Twazzup.com<br /><ul><li>Using Lists (Listorous / Topsy)
  82. 82. Delving into influencers</li></ul>Oddles of tools<br />http://www.smashingmagazine.com/2009/03/17/99-essential-twitter-tools-and-applications/<br />
  83. 83. Communities and Guidelines<br />First Steps: Most people tend to use Facebook as more of a personal communication channel. Start with a personal account and join groups relevant to your business to enable evaluation of opportunities<br />Business user guidelines: Team members can interact with the target community through the company page (via the wall or messages). This provides a personal point of contact, a face, for the organization<br />
  84. 84. Communities and Guidelines<br />First Steps: Each person should complete and maintain an individual profile, however this should include a full description of the business role and all business contact details.<br />Business user guidelines: To promote business and develop awareness of expertise / services, business representatives should participate in answers section and join groups that include potential clients or customers.<br />
  85. 85. Platforms<br />Bulletin Boards / Forums:People expect to be talking to people. If forums are a viable channel for your company to be talking to customers, then each individual should have their own presence on the site and communicate with forum members directly.<br />Examples:<br />Legal: LawInfo - Members: 54,221, Posts: 62,850<br />Real Estate: realestateforum - Members: 23,297, Posts: 63,449 <br />Financial: Finance Club (linkedIn group) – Members 54,361<br />
  86. 86. Tools<br />Research/ Monitoring<br />Tweetdeck Monitor Twitter, Myspace and Facebook. Organize information using powerful filtering tools (Desktop app)<br />Google Alerts<br />Google Trends<br />Google Blogs(News and Blog Search) providing email and onscreen results<br />Twitter Search- separate feeds for different search strings/keywords<br />
  87. 87. Tools<br />Technorati: search engine for blogs, covering over 1 million posts in real time. The results are sorted by blog authority or total number of sites inbound links.<br />SamePoint: social conversation search engine. The search results display the title, an excerpt of the content, the source and the sentiment.<br />Socialmention: search engine that searches variety types of user-generated content from major social media platforms including Google blog search, Twitter, and YouTube.<br />Boardreader: monitors message boards and forums (not blogs). It also offers browsing option for internet videos, movies, posts, articles and by top Internet sites, domains, topics and projects. <br />
  88. 88. Tools<br />Multimedia Search<br />YouTube - Search for videos and channels by keyword.<br />MetaCafe - High-traffic video search engine.<br />Flickr - Search Flickr for photos, groups or people/users.<br />Truveo - Aggregate video search engine. Search videos from YouTube, MySpace, and AOL.<br />Social Bookmarking<br />Digg - Social Bookmarking, mainly for news, images and videos<br />StumbleUpon - Social bookmarking - general cool stuff<br />Delicious - Social bookmarking<br />
  89. 89. More<br />Aggregators: FriendfeedCommunity: NingRSS: Google Reader / Feedly (Firefox)Press release: Pitch Engine<br />Tracking: Google Alerts /  Social Mention / Bit.ly / Woopra<br />Events : Eventbrite / Plancast<br />Business networking: LinkedIn / Spoke<br />Bookmarking: Delicious / Digg<br />Software tracking  Wakoopa<br />Graders: Website Grader / Grader<br />
  90. 90. Thanks for supporting this event<br />
  91. 91. Contact us<br />Richard Colback<br />richard@epicstates.com<br />Tel: (949) 429-4072<br />Offices in San Diego, Orange County and Los Angeles<br />Website: http://epicstates.com<br />

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