Tippie MBA Marketing Academy Guest Lecture


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These are the slides from my guest lecture at the Tippie Full-time MBA Marketing Academy session on December 1, 2011. Contact Lydia Fine at lydia-fine@uiowa.edu with questions or clarifications. Please cite Lydia Fine, University of Iowa as your source if you reuse any of this material.

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  • You can spot good SMM already, as a user of SM. But what you don’t know is what makes it good.
  • 2006 – Fake blog written by a PR firm posing as customers traveling the country 2007 – Online community for teens, populated by fake profiles talking about Walmart clothing 2008 – Back to school campaign trying to encourage students to buy at WM, instead drew over 200 critical comments
  • It’s not about the company any more. It’s about the CUSTOMER. Social media is the world’s largest cocktail party, where anyone can listen to others talking and join the conversation w/ anyone about the topic of their choice. At both parties you’ll find a mix of likeable and not-so likeable people. People who won’t stop talking aobut themselves and others who are great listeners and are interested in what you’re discussing. Some great storytellers, others who bore you to death. WHO DO YOU WANT TO SEE AGAIN AND/OR DO BUSINESS WITH? The salesman who talks incessantly about how great his company/products are, or the person who listens to the problems you face, has an open discussion w/ you, or even makes you laugh?
  • Be real. Customers’ b.s. detector is finely honed. Be who you are, be yourself, and own up to what you’re best at. Don’t fake it!  Don’t try to be someone else just to be more popular. You can only pretend for so long. Be authentic, be yourself. There is only one YOU in the world so rock it, baby! Have personality, be funny, be different, be interesting. I constantly see people who keep changing their “voice”, their social media strategy. If you do your homework and listen first you should have a pretty good idea of where you fit in and what is your message. Don’t confuse your community by constantly shifting gear. Just because something worked for another guy doesn’t mean it will work for you. BE HUMAN . Companies can be afraid of SMM because they’re afraid of making a mistake. In fact, making small errors here and there (AND ACKNOWLEDGING THEM) is useful because it makes you seem human, you make mistakes and then laugh at them.
  • Start a conversation. Conversations are DIALOGUE, not monologue. Initiate conversations. That means asking good questions. Talk about interesting topics to your audience. Introduce people to each other.
  • Keith Urbahn, Chief of Staff at the office of Donald Rumsfeld (not the country singer).  One full hour before the formal announcement  of Bin Laden’s death, Urbahn posted his speculation on the topic of the upcoming emergency presidential address.
  • Beyonce’s pregnancy, 8,846 TPS. Goodness.
  • The example from our pop quiz – a funeral home in Las Vegas using Facebook. 189 people had checked in. It didn’t say whether they had checked out.
  • The example from our pop quiz – a funeral home in Las Vegas using Facebook. 189 people had checked in. It didn’t say whether they had checked out.
  • Listen, don’t talk. And don’t just listen – HEAR. Focus on giving, not taking, and you’ll reap the rewards. And RESPOND.
  • We’re human, and we like stories. A lot. Great stories have conflict or a challenge somewhere in them, and resolution.
  • Remember the stat from last week’s video? 90% of people trust peer reviews, while only 15% trust advertisements.
  • Be likeable . It’s all about the customer , not the brand. They’ll ignore you if you’re uninteresting or talk only about yourself. Be yourself . The customer will see through you in a second if you aren’t. Be human . Don’t be a faceless entity. Laugh at your mistakes. Start and always participate in two-way conversations . News travels superfast . Bad and good. You can’t be everywhere and do everything; choose a few things and do them well . Listen twice as much as you talk. Be a great storyteller . A referral is worth more and is much more likely to convert to a purchase.
  • http://www.youtube.com/watch?v=sIQ0EhEMiSs&hd=1
  • Siri = you can only respond to questions/posts by the company, you can’t post there. Basically this is a very young platform. We aren’t sure what this will turn into yet, or if it will even
  • Know your purpose on any platform before joining Researching competitors: Are they making it work?
  • Tippie MBA Marketing Academy Guest Lecture

    1. 1. SOCIAL MEDIA MARKETING Your Host: Lydia Fine, Adjunct Lecturer Social Media Marketing (also MBA Recruiter Extraordinaire)
    2. 2. Today on Social Media Marketing… <ul><li>Why do we care? </li></ul><ul><li>Pervasive myths </li></ul><ul><li>Cardinal Rules </li></ul><ul><li>Platforms </li></ul><ul><li>How to stay informed </li></ul><ul><li>Answering the interview question </li></ul>
    3. 3. SOCIAL MEDIA: WHAT IS IT? You think you know, but you have no idea. (Okay, that’s an exaggeration.)
    4. 4. 40 YEARS AGO WE WERE FAIRLY RESTRICTED BY THE MEDIA WE COULD CONSUME TV, radio, newspapers, magazines, records
    5. 5. TODAY, THE MEDIA WE HAVE AT OUR DISPOSAL IS COMMONPLACE AND EVERYWHERE Internet, mobile phones, blogs, text messaging, apps
    6. 6. “… an umbrella term that defines various activities that integrate technology, Social Interaction, and the construction of words and pictures.” Wikipedia Social media is…
    8. 8. RUPERT MURDOCH DISAGREES “ To find something comparable, you have to go back 500 years to the printing press, the birth of mass media… Technology is shifting power away from … the publishers, the establishment … Now it’s the people who are taking control.” Rupert Murdoch, Wired Magazine, July 2006
    13. 15. AND IT’S DEFINITELY NOT ABOUT SELLING (as soon as you overtly try to sell, listeners tune you out)
    14. 16. IT’S ABOUT BEING HUMAN (as cheesy as that sounds)
    15. 17. Making connections with people . Being real . Adding value. Creating content for others to consume. Building community !
    16. 18. In essence, it’s communication. We’re good at that. We’ve been doing it a really, really long time.
    17. 19. Cost and time Loss of control How do we know it’s working? How does it work ? Why are companies afraid of social media?
    18. 20. But the social media world is too big for business to overlook. Ignore it at your peril. 800m 300m
    19. 22. Don’t expect a positive ROI (Not quickly, and maybe not ever) ROI = Risk of Inaction MYTH #1: You’ll see ROI quickly.
    20. 23. #2: Social media will help to make up for a bad product or company <ul><ul><li>Negative. It will actually do the opposite. </li></ul></ul><ul><ul><li>*coughwalmartcough* </li></ul></ul>
    21. 24. <ul><li>MYTH #3 </li></ul><ul><li>Social media will lead to overnight sales success </li></ul><ul><ul><li>Not so much. Building relationships takes time . </li></ul></ul>
    22. 25. <ul><li>MYTH #4 </li></ul><ul><li>Social media is free. </li></ul><ul><ul><li>The tools may be, but building and executing a plan takes lots of time and effort. </li></ul></ul>
    23. 26. THE CARDINAL RULES <ul><li>AKA, Social Media Marketing for Dummies </li></ul>
    24. 27. Be likeable a.k.a. The Cocktail Party Effect
    25. 30. <ul><li>Be Yourself </li></ul><ul><li>Be Human </li></ul>Example of Being Human Twitter conversation Jetblue : There’s a lot of talk going around about corporate rolls in Twitter. Since this IS a conversation… What WOULD you like to see? SarahM : @jetblue, did you mean “corporate roles”? Jetblue : @SarahM sighh…yes, first role: spelling.
    26. 31. <ul><li>#GettngSlizzerd </li></ul>
    27. 32. <ul><li>#GettngSlizzerd </li></ul>
    28. 33. <ul><li>#GettngSlizzerd </li></ul>
    29. 34. <ul><li>#GettngSlizzerd </li></ul>
    30. 36. <ul><li>Only Leno & Letterman Should Do Monologues </li></ul>
    31. 38. <ul><li>News Travels FAST </li></ul>Graphic by SocialFlow.com
    32. 39. Tweets/Second Records 8,000 6,000 4,000 TPS Japanese New Year Packers win Super Bowl Japanese tsunami Osama bin Laden killed Barca over Man U in Champions League Final Mavs over Heat, NBA Finals Gm 6 2011 BET Awards Japan over US in WWC final JAN FEB MAR MAY JUNE JULY AUGUST Beyonce’s pregnancy 8868 Tweets per Second (Yes, you should be worried about America.) Paraguay over Brazil in Copa America
    33. 40. Just because you can do it all doesn’t mean you should
    34. 44. <ul><li>Two ears, one mouth. </li></ul><ul><li>Use them in that proportion. </li></ul>
    35. 46. <ul><li>Tell great stories. </li></ul>
    36. 48. <ul><li>Referrals > Advertisements </li></ul>
    37. 49. The Cardinal Rules <ul><li>Be likeable </li></ul><ul><li>Be yourself </li></ul><ul><li>Be human </li></ul><ul><li>Two-way conversations </li></ul><ul><li>News travels superfast </li></ul><ul><li>Don’t try to be everything to everyone </li></ul><ul><li>Listen twice as much </li></ul><ul><li>Be a great storyteller </li></ul><ul><li>Referrals are golden </li></ul>
    38. 50. Platforms : Great for more than drilling!
    39. 51. <ul><li>Building COMMUNITY </li></ul><ul><li>Driving traffic to your website (e-commerce or otherwise) or blog </li></ul><ul><li>Standing in for a company website (last resort) </li></ul>
    40. 53. <ul><li>Not good for : </li></ul><ul><ul><li>Products you need infrequently </li></ul></ul><ul><ul><ul><li>Caskets. Divorce lawyers. </li></ul></ul></ul><ul><ul><li>Commodities </li></ul></ul><ul><ul><ul><li>Bananas. But of course, Chiquita has a Facebook page. </li></ul></ul></ul>
    41. 54. <ul><li>Real-time customer communication </li></ul><ul><li>Customer service / insight </li></ul><ul><li>Damage control </li></ul>
    42. 56. <ul><li>Not good for: </li></ul><ul><ul><li>Restrictive industries </li></ul></ul><ul><ul><li>Organizations that require higher-level approval for all communication </li></ul></ul><ul><ul><li>And companies who: </li></ul></ul><ul><ul><li>Have nothing to say of interest or value </li></ul></ul><ul><ul><li>Don’t want to talk to their customers </li></ul></ul><ul><ul><li>Plan to talk AT their customer </li></ul></ul>
    43. 58. <ul><li>Connecting more deeply with your target audience </li></ul><ul><ul><li>Share ideas, info, expertise </li></ul></ul><ul><ul><li>Build credibility </li></ul></ul><ul><ul><li>Attract future customers (and employees!) </li></ul></ul><ul><ul><li>Crowdsourcing </li></ul></ul><ul><li>Positioning yourself as a thought leader </li></ul><ul><li>SEO </li></ul>
    44. 60. <ul><li>B2B marketing </li></ul><ul><li>Employee recruitment </li></ul><ul><li>Industry collaboration </li></ul>
    45. 62. <ul><li>Demonstrate company culture and show personality </li></ul><ul><li>Demonstrate product uses </li></ul><ul><li>Educating customers </li></ul><ul><li>Branded entertainment – a.k.a. FUN! </li></ul>
    46. 64. <ul><li>My favorite : Kenny Powers, K-Swiss CEO </li></ul>
    47. 65. <ul><li>Reaching customers when they’re near your location </li></ul><ul><li>Understanding customer point-of-purchase behavior </li></ul><ul><li>Best for: </li></ul><ul><ul><li>Hospitality industry or retailers </li></ul></ul><ul><ul><li>Still a young platform. Remains to be seen… </li></ul></ul>
    48. 68. <ul><li>SEO: top Google search result is a direct channel to your company </li></ul><ul><ul><li>(Well, it will be once G+ Direct Connect is working) </li></ul></ul><ul><li>Companies who: </li></ul><ul><ul><li>Treat customers like Siri </li></ul></ul><ul><ul><li>Have only one person handling SM </li></ul></ul><ul><ul><li>Don’t want to see analytics </li></ul></ul><ul><ul><li>Do not offer deals or promotions </li></ul></ul>
    49. 69. How to answer intelligently (when it comes to social media, at least)
    50. 70. Blogs and News <ul><li>Mashable.com </li></ul><ul><li>Likeable.com </li></ul><ul><li>SocialMediaExaminer.com </li></ul><ul><li>Ad Week Technology </li></ul><ul><ul><li>www.adweek.com/technology/social </li></ul></ul><ul><li>Ad Age Digital </li></ul><ul><ul><li>adage.com/channel/digital/ </li></ul></ul><ul><li>HuffPost Social </li></ul><ul><ul><li>www.huffpost.com/news/social-media/ </li></ul></ul>
    51. 72. Who to Follow <ul><li>@mashable </li></ul><ul><li>@socialfresh </li></ul><ul><li>@likeablemedia </li></ul><ul><li>@briansolis  </li></ul><ul><li>Mashable’s Social Media Thinkers List: </li></ul><ul><ul><li>https://twitter.com/mashable/social-media </li></ul></ul>
    52. 73. “ So, you’re a new MBA grad… you’ll know all about this. Should we be doing social media marketing?”
    53. 74. “ That depends. What are your goals for social media?” <ul><li>Avoid “Bandwagon Syndrome” </li></ul><ul><li>Research the industry’s presence on SM before your interview </li></ul><ul><ul><li>Are competitors making it work? </li></ul></ul>