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How to Leverage Social Media to Generate Revenue
The document explains how to leverage social media for revenue generation by transitioning from traditional outbound marketing to inbound strategies. It outlines the benefits of social media, the importance of defining goals and audiences, and how to execute a plan that includes various channels like blogs, Twitter, Facebook, LinkedIn, YouTube, and SlideShare. Additionally, it emphasizes the need for monitoring, measuring success, and understanding the ROI of social media efforts.
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How to Leverage Social Media to Generate Revenue
- 1. HOW TO LEVERAGESOCIAL MEDIA TO GENERATE REVENUE
- 2. TABLE OF CONTENTS WHYSOCIAL MEDIA? EXECUTING YOUR PLAN CHOOSE YOUR CHANNELS PARTICIPATE MEASURING REVENUE
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- 4. How Marketing ischanging… OLD: OUTBOUND MARKETING • Telemarketing • Direct Mail • TV/Radio • Print Ads
- 5. How Marketing ischanging… NEW: INBOUND MARKETING • Blogs • Social Media channels • Search (SEO & SEM) • RSS & Email Subscriptions
- 6. INBOUND MARKETING = beingfound by those looking for your products or services
- 7. Why Use SocialMedia?
- 8. Why Use SocialMedia? • Your audience is there • Cost efficient • Vast reach • Increase interaction frequency • Receive real-time feedback • Establish your social media real-estate • Gain competitive intelligence • Better understand your audience • Help your audience • It’s fun
- 9. 93% of Americansbelieve a company should have a social media presence
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- 11. Social Media Benefits •Increase brand awareness • Create and cultivate relationships • Identify prospects • Generate leads • Client/customer retention • Reduce marketing spend • Generate inbound traffic • Search engine optimization • Build reputation and credibility • Gain competitive advantage
- 12. 73.8% say socialmedia has helped them close business
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- 14. Define your Goals Beforeyou get started, define the goals for your business or organization: • Awareness • Lead Generation • Increase Sales • Customer Retention • Customer Service/Support • HR/Hiring • Event Marketing • Feedback (Focus Group/Crowdsourcing)
- 15. Start with aPlan
- 16. Start with aPlan • Get the right people involved • Identify and Coordinate Resources • Channel Management Time • Content Production • Response Routing • Fulfillment • Identify how you plan to measure success • Create your Strategy • Obtain internal approval/support • Marketing/PR • Customer Service/Support • IT/Web Developers • Senior Management
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- 18. Define Your Audience •Niche groups • Channels they use • Business Setting/Company • Roles/Positions • Demographics • Psychographics • Location • Current relationship
- 19. Create Guidelines andSchedules
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- 21. Guiding Principles • Alignwith business goals • Be human - use a personal voice • Be authentic - stay true to your brand, admit mistakes, say thank you • Learn through action • Share - the point of social media is sharing (ideas, information, expertise) • Add value • Build trust (don’t pitch, just help) • Have fun
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- 23. Listen • What isbeing said? • Who is saying it? • Where are they saying it? • Is it positive or negative? • How much reach or impact does it have?
- 24. Listen What to listenfor: • Company or brand name • Product or service names/terms • Names of executives or top talent • Competitors rand names • Competitor product/service names • Industry keywords/phrases
- 25. Listening/Monitoring Tools FREE TOOLS: •Google Alerts (google.com/alerts) • Social Mention (socialmention.com) • Twitter search (search.twitter.com) Tip: subscribe to a Twitter search result or Social Mention alert via RSS
- 26. Listening/Monitoring Tools ENTRY-LEVEL TOOLS: •Trackur (trackur.com) • ViralHeat (viralheat.com) • Sysomos Heartbeat (sysomos.com) • UberVU (ubervu.com)
- 27. Listening/Monitoring Tools SOPHISTICATED TOOLS: •Radian6 (radian6.com) • Sysomos (sysomos.com) • LIthium (lithium.com) • Alterian SM2 (alterian.com)
- 28. Social Media ManagementSystems (SMMS) WHAT IS AN SMMS? A SMMS is a tool that allows you to manage, monitor and measure your social media activity in one place. A SMMS can help you: • Publish content to multiple social channels • Schedule and automate content delivery • Monitor and review social media activity • Manage internal resources/workflow • Manage resource permissions • Review metrics and reporting SMMS OPTIONS: • HootSuite (hootsuite.com) • Argyle Social (argylesocial.com) • Spredfast (spreadfast.com) • Awareness Social Marketing Hub (awarenessnetworks.com)
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- 33. Blogs Blogs are widelyconsidered the cornerstone of all social marketing efforts. Nearly all of your social media efforts will point back to your blog.
- 34. Blogs BENEFITS: • Generate awareness •Establish brand and thought leadership • Engage your audience • Share content • Generate qualified leads • Customer retention • Search engine optimization
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- 39. Twitter STATS: • 200 millionregistered users • 65 million tweets per day • 75% of traffic sourcing from outside applications • Adding 300,000 new users daily • 93% of social media marketers are using Twitter • 85% of large businesses will be increasing their Twitter activities • 87% of Americans familiar with Twitter in 2011, up from 5% in 2008
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- 41. Twitter BENEFITS: • Establish yourselfas a thought leader • Frequently engage your audience • Meet like-minded professionals • Find your audience with Twitter search • Create buzz • Search engine optimization http://search.twitter.com/advanced
- 42. Twitter GENERATE REVENUE: • Gaincompetitive intelligence • Generate leads • Market products, services (offers, product launches, etc.) • Great for event marketing IBM used Twitter to generate 40% of their event registration goals within 72 hours.
- 43. Facebook STATS: • 175 millionpeople visit Facebook every day • Facebook tops Google for weekly traffic in the US • If it were a country, it would be third largest in the world (only behind China & India) • 85.4% of large businesses plan on increasing Facebook activity • 1/3 of all Facebook users are in the US • The average user has 130 friends
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- 46. Facebook BENEFITS: • Huge, dedicatedaudience that checks in regularly • When content goes viral it has significant reach • Confirm your key audience • Great environment to build your brand • Easy channel for feedback (likes) and conversation (comments)
- 47. Facebook GENERATE REVENUE: • Strengthencustomer relationships • Identify Influencers • Generate Opt-ins • Generate Sales • Average value of a fan is $3.60
- 48. Linkedin STATS: • Over 100million professionals • 50% are business decision makers • 7.8% are C-Level Executives, 6.5% are EVP/SVP • Average age of 41, HHI of $110k • 80% College Grad/Post Grad
- 49. Linkedin BENEFITS: • Professional, educatedaudience • Resource for recruiting, talent acquisition • Updates from other channels (Twitter, Blogs, Slideshare, etc.) posted to your network
- 50. Linkedin GENERATE REVENUE: • Takeadvantage of Groups- create and participate • Identify prospects within groups • Find prospects through search, people you may know and connections • Follow companies (track your competition) • Ask questions in Answers area
- 51. YouTube STATS: • Over 20hours of video uploaded every minute • 135 million viewers watched 13.1 billion YouTube videos in March 2010 (96 videos/viewer) • 84.8% of total U.S. Internet audience watch online video • YouTube generates 90% of online video consumption • YouTube Search is the world’s 2nd largest search engine • 73% of marketers plan on increasing YouTube/video marketing
- 52. BENEFITS: • Video isengaging and averages longer interaction than other media • Video content is easily sharable • YouTube offers great statistical data on video effectiveness • Video meta data is great for SEO (Google owns YouTube) • Channels allow you to create a network and easily share video content with them YouTube
- 53. GENERATE REVENUE: • Increaseexposure of brand/products/services • Generate leads: Demonstrate products and services with videos, link to your site • Speed up sales cycle: enrich sales content with YouTube videos • Accept direct ads on your YouTube content YouTube
- 54. Slideshare Slideshare is theworld’s largest community for sharing presentations, documents and PDF files. BENEFITS: • 25 million unique visitors • 70 million page views/month • 62% college degree, 19% masters or PhD • Presentations can be embedded on your site/blog • Options for sharing privately • Join groups to share based on interests
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- 56. Create Conversation andEngage
- 57. Create Conversation andEngage What to share via social media: • Content that will benefit your contacts (blog posts, videos, webinars, etc.) • Unique industry news and information • Your thoughts/positions on relevant industry content • Responses to others sharing relevant information • Questions that other experts can answer • Talk about yourself/your business less than 10% of the time (press releases, company news, product/service announcements, etc.)
- 58. Maintain Your Channels •Be Original • Be Helpful • Be Passionate • Be Respectful • Be a Motivator • Be a Leader
- 59. What Not ToDo • DON’T only talk about yourself/your business • DON’T oversell • DON’T force it • DON’T be inconsistent in approach or timing • DON’T do anything that doesn’t help achieve goals
- 60. Marketing Your SocialMedia Channels Add your social media channels to your online and offline communications/collateral • Emails • Web Site • Direct Mail • Ad Units • Packaging • Business Cards • Print Ads • Radio/TV
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- 64. MEASURE: Awareness • Socialmentions • Fans/followers/friends • Web site traffic • Search rankings • Reach
- 65. MEASURE: Lead Generation •Opt-Ins/database growth • Offer redemptions • Repeat visits • Inquiries
- 66. MEASURE: Retention • Increasein positive sentiment • Increase in feedback (comments, mentions, etc.) • Decrease in churn rate • Reduction in support channels
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- 68. These things donot make you money: • Visits • Impressions • Comments • Mentions • Number of followers • Number of likes • Re-tweets • Click-throughs
- 69. Social Medium ROI Twitter• 10% of new web sales attributed to site traffic from Twitter click-throughs • Customer Service calls down by 20% Facebook • Webinar attendance up 20% • Event sold-out due to 150 Facebook fans signing up LinkedIn • Reduced costs of talent acquisition by 50% • Helped find targeted audience at $0 cost YouTube • 50 product sales originated from YouTube.com • Generated 100 new opt-ins Blogging • SEO improvements generated additional web traffic • Generated 250 leads via whitepaper download Slideshare • 20% increase in service inquiries • 50 new opt-ins MEASURE: ROI
- 70. MEASURE: ROI 84% ofsocial media professionals DO NOT measure ROI
- 71. THE ROI EQUATION ROI= SM return - SM cost SM cost
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- 73. HOW MASS TRANSMITCAN HELP Mass Transmit - multi-channel Internet marketing agency Email Transmit - email service provider (ESP) Group Transmit - social sharing application @MassTransmit @EmailTransmit Facebook.com/MassTransmit LinkedIn.com/companies/Mass-Transmit
- 74. PRESENTATION A copy ofthis presentation can be viewed or downloaded at Slideshare: http://slideshare.net/masstransmit
- 75. THANK YOU Adam Q.Holden-Bache 8701 Mallard Creek Dr. Charlotte, NC 28262 704-706-2670 x200 adam@masstransmit.com Twitter: @adamholdenbache
Editor's Notes
- #11 Better understand your audience Decrease the duration of the sales cycle
- #12 Better understand your audience Decrease the duration of the sales cycle
- #13 85% of all marketers say social media has generated exposure for their business More than half say social media has generated qualified leads 53.1% reported new business partnerships due to social media 73% cite improved search engine rankings due to social media 56% of users feel a stronger connection with companies they interact with through social media