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- 1. Northwest Technologies The Benefits of Adding Social Media to Current Marketing Strategies XYZ Advertising Daniel Fray, Account Manager
- 2. Emergence of Social Media in the Corporate World
- 5. Greatest ROI According to US B2B Marketers
- 10. Business to Business Objectives
Editor's Notes
- Good morning, my name is Daniel Fray. I’m the acct manager of XYZ Advertising and I’d like to thank you for giving me the opportunity to speak with you about XYZ and the benefits of Adding Social media to the current marketing strategy of Northwest Technologies.
- This chart describes a sharp increase in the amount of money spent on advertising through online social networks. In 2007 only $15 million dollars was spent on this type of advertising because it was a new concept and virtually unexplored. As the years progressed there was a significant increase in the amounts that companies were willing to invest. By 2012 the projected spending is $210 Million dollars.
- LinkedIn was founded in 2003 & was one of the first mainstream social networks devoted to business. Originally, LinkedIn allowed users to post a profile (basically a resume) and to interact through private messaging. Then MySpace was founded in 2003 and by 2006 had grown to be the most popular social network in the world. MySpace differentiated itself from competitors by allowing users to completely customize the look of their profiles. Users could also post music from artists on MySpace and embed videos from other sites on their profiles. While Facebook started out as a Harvard-only social network in 2004, but quickly expanded to other schools, businesses & eventually everyone (by 2006).In 2008 Facebook became the most popular social networking site, surpassing MySpace, and continues to grow today .
- Some social networking media examples include LinkedIn, Facebook, Twitter, Myspace, YouTube, Company blogs and video, and there are many more examples that can be found online .
- There are many Social Media Sites but according to studies done mid year of 2011 Certain Social Media Networks have greater Return on Investment for their companies according to US Business to Business marketers. This chart shows the greatest return on investment for US B2B Marketers. Linkedin shows the greatest return at 48% followed by Twitter at 20%, Facebook at 15%, Company blogs/videos 11% and YouTube at 6%
- There are three main benefits of social media marketing in the corporate world. The first is Increased Brand Awareness. The internet has no boundaries and companies regardless of size can build its brand reputation using a smart internet marketing strategy. There are multiple platforms to help you share your message across the internet, and most of these are free. Companies can also benefit from viral marketing. When a product is high quality and people using the product are happy with it, the consumers will spread the word through social media platforms and your products popularity will increase at no additional advertising cost to your company.
- Your company has to establish credibility because there are a lot of business online that tend to take advantage of consumers. Through Social media you have the opportunity to verify your identity and establish trust with anyone who comes in contact with your online presence. Third party references, such as people who post on social media sites, blogs etc. who recommend your product or service tend to increase your product awareness. Its easy for a company to say its the best in the business but when customers leave reviews, blogs, etc that back up your claim people are more apt to believe it.
- The internet is immediate offering two main advantages to marketers. First, they are able to distribute important information right away. Should there be an imminent situation, you can advise your clients immediately via social media tools. Second, marketers can use social media to track what others are saying about their products or services and make any changes as necessary in real time.
- The primary marketing goals for Northwest Technologies fall into three categories: Customer Acquisition at 77% Customer retention at 13% Brand awareness at 11%
- Unlike B2C businesses, B2B businesses main objective is to generate leads. Next is generating sales followed closely by building brand awareness. Social Media is an inexpensive way to accomplish these objectives.
- Facebook, Twitter and LinkedIn, each have between 120 and 800 million users & represent the newest frontier for internet marketers. Facebook is a collection of detailed leads but it is a social platform before it is a business platform. DO NOT SELL on your personal profile on facebook. Instead do targeted ads to friends and fans. Twitter is a fantastic consumer research tool. You can use a service like Hootsuite to automatically find any chatter about your industry or company then follow up with anyone interested. Twitter is a real time conversation so you know within minutes if someone is talking about your company or the product or service that you provide. LinkedIn is the biggest business community on the web. .
- XYZ has promoted and advertised for hundreds of clients over the past 30 years. We keep up to date with the latest trends in online advertising and marketing. We can help Northwest Technologies generate leads and get the most Return on your Investment. My team and I will help Northwest Technologies in your quest to tap into the many resources and advantages that social network advertising has to offer. Thank you for your time, if you have any questions or comments please feel free to contact me at the number or email address listed on my business card.