Leveraging the Power of Social Media

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Free marketing? Understand the power of social media and why, as a finance professional you cannot ignore it.

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Leveraging the Power of Social Media

  1. 1. MARKETING. THE RULES HAVE CHANGED.
  2. 2. OVERVIEW <ul><li>THE OLD MARKETING MODEL </li></ul><ul><li>THE NEW MARKETING MODEL </li></ul><ul><li>A SIMPLE ACTION PLAN </li></ul>
  3. 3. THE OLD MARKETING MODEL.
  4. 4. <ul><li>The old communication model was one way. </li></ul><ul><li>(monologue) </li></ul>THE OLD MODEL
  5. 6. THE FILTER 3,000 advertising messages per day
  6. 7. <ul><li>Consumers are well informed and in control ; they will pick and choose their providers; and </li></ul><ul><li>They are able and willing to spread the word on their experiences…. </li></ul>CONSUMERS TODAY
  7. 9. <ul><ul><li>Australians mention a brand about 68 times a week </li></ul></ul><ul><ul><li>81 times for those aged 18 - 29 . </li></ul></ul>THEY’RE TALKING ABOUT YOU
  8. 10. <ul><ul><li>Only 14% of people trust advertisements . </li></ul></ul>THEY’RE TALKING ABOUT YOU
  9. 11. <ul><ul><li>78% of people trust the recommendations of other consumers. </li></ul></ul>THEY’RE TALKING ABOUT YOU
  10. 12. <ul><ul><li>14% v 78% </li></ul></ul><ul><ul><li>where should you focus your energy? </li></ul></ul>QUESTION
  11. 13. <ul><ul><li>You kids stop all that blogging ! </li></ul></ul>THE NEW MARKETING MODEL.
  12. 14. NEW MODEL SOCIAL INFLUENCE <ul><ul><li>dialogue not monologue </li></ul></ul>
  13. 15. QUICK POLL <ul><ul><li>Who thinks blogs, facebook, forums etc is probably a fad and a complete waste of time? </li></ul></ul><ul><ul><li>Who thinks social media is the future of marketing your business? </li></ul></ul><ul><ul><li>Who likes to sit on the fence whenever they are surveyed? </li></ul></ul>
  14. 16. A FEW REASONS
  15. 18. <ul><ul><li>Social – Networking sites are officially more popular than porn sites. </li></ul></ul><ul><ul><li>TIME, OCTOBER 13, 2007 </li></ul></ul>REASON #1 – INTERNET USERS
  16. 19. SOCIAL MEDIA MARKETING <ul><ul><li>Social Media Marketing – is a new dimension of marketing, it is not a passing fad. </li></ul></ul>
  17. 20. <ul><ul><li>51% of Australian internet users have joined a social network. </li></ul></ul><ul><ul><li>34% post opinions about products and services. </li></ul></ul>REASON 2#
  18. 24. WHAT IS YOUR BUSINESS PURPOSE? <ul><ul><li>“ The purpose of a business is to create a customer.” (Peter Drucker) </li></ul></ul>
  19. 25. REASON 3# - PURPOSE OF SOCIAL MEDIA MARKETING <ul><ul><li>“ The purpose of a business is to create a customer who creates other customers ” (Shiv Singh) </li></ul></ul>
  20. 26. <ul><ul><li>“ QUESTION: who here has (or would) pick a dentist out of the yellow pages? </li></ul></ul>
  21. 27. HOW MANY PEOPLE DID YOU TELL? <ul><ul><li>CARS </li></ul></ul><ul><ul><li>CONSUMER </li></ul></ul><ul><ul><li>ELECTRONICS </li></ul></ul><ul><ul><li>HOTELS </li></ul></ul><ul><ul><li>14.7 </li></ul></ul><ul><ul><li>11.1 </li></ul></ul><ul><ul><li>20.3 </li></ul></ul>
  22. 35. <ul><ul><li>They don’t care about your advertising. </li></ul></ul>REASON 4#
  23. 36. <ul><ul><li>They care about what their friends and other consumers…. </li></ul></ul><ul><ul><li>think about your product/service; and </li></ul></ul><ul><ul><li>They find that information online </li></ul></ul>WHAT THEY CARE ABOUT
  24. 37. GETTING STARTED…
  25. 38. “ NO EXCUSES” WEBSITE Creating a WordPress Blog-based website – get your Blog and Website in one (or just use it as a blog!) Go to www.wordpress.com
  26. 42. <ul><li>Creating a WordPress Blog-based website </li></ul><ul><li>Go to www.wordpress.com </li></ul>
  27. 45. BLOGS – OK NOW WHAT DO I WRITE? <ul><li>Target your blog to a specific audience </li></ul><ul><li>Be consistent about the messages you send out about what you and your business stands for </li></ul><ul><li>People care about getting their problems solved – not products and services </li></ul>
  28. 50. USING A FORUM <ul><ul><li>Cultivate a community of like minded people </li></ul></ul><ul><ul><li>Allows your reputation as an expert to grow </li></ul></ul><ul><ul><li>Anyone can start or participate </li></ul></ul><ul><ul><li>Provides an opportunity to stay close to the people who have the most to say about your industry </li></ul></ul>
  29. 51. USING A FORUM <ul><ul><li>Avoid jumping onto too many forums </li></ul></ul><ul><ul><li>Be assertive not aggressive </li></ul></ul><ul><ul><li>Avoid commenting on topics that you are not an expert on </li></ul></ul><ul><ul><li>Follow them to increase your knowledge </li></ul></ul>
  30. 52. SIMPLE ACTION PLAN <ul><li>Step 1 - Decide what Social Media you will: </li></ul><ul><ul><li>“ Participant” in only </li></ul></ul><ul><ul><li>Use as a “Marketing Mechanism” </li></ul></ul>Where to from here?
  31. 53. SIMPLE ACTION PLAN <ul><li>Step 2 – Create your plan </li></ul><ul><ul><li>Determine your Goals </li></ul></ul><ul><ul><li>Set Metrics to measure success </li></ul></ul><ul><ul><li>Engage Professionals </li></ul></ul>Where to from here?
  32. 54. SIMPLE ACTION PLAN <ul><li>Step 3 – Take Action </li></ul><ul><ul><li>Secure your Brand </li></ul></ul><ul><ul><li>Establish your Social Media “Profiles” </li></ul></ul><ul><ul><li>Generate Activity </li></ul></ul><ul><ul><ul><li>Don’t let your blog go dormant! </li></ul></ul></ul>Where to from here?
  33. 55. SIMPLE ACTION PLAN <ul><li>Step 4 – Measure & Adjust </li></ul><ul><ul><li>Track your metrics </li></ul></ul><ul><ul><li>Adjust activity as required </li></ul></ul><ul><li>Am I Receiving an adequate ROI? </li></ul>Where to from here?
  34. 56. SUMMARY <ul><ul><li>Social Media isn’t a Fad </li></ul></ul><ul><ul><li>Participate/Observe </li></ul></ul><ul><ul><li>Take Action – BUT don’t try to do it all at once </li></ul></ul><ul><ul><li>Social Media Takes Time – Don’t Expect Overnight Results (but don’t be surprised if you get them) </li></ul></ul>
  35. 57. THANK YOU.

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