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Social Media - Why use it? What's the ROI?
- 1. © RiverRhee Consul.ng 2013 Social Media – why use it? What’s the ROI? Elisabeth Goodman Cambridge Network Breakfast Mee.ng 25th April 2013 Enhancing Team Effectiveness
- 2. © RiverRhee Consul.ng 2013 15 minutes to explore! 1. RiverRhee Consul.ng’s / my experience of Social Media 2. Other people’s experience (from the survey) 3. Challenges and .ps for ROI 4. Further reading!
- 3. © RiverRhee Consul.ng 2013 RIVERRHEE CONSULTING’S / MY EXPERIENCE OF SOCIAL MEDIA 3
- 4. © RiverRhee Consul.ng 2013 Why am I teaching people about Social Media tools? A good adjunct to my business 1. I’ve learnt how to use social media tools to meet my needs over several years 2. People have been asking me to teach them 3. Social media tools are a good fit with Knowledge Management – They enable people to share what they know and learn from others My stats.. • LinkedIn – Since March 2006 – 758 connec.ons • Blogs (Wordpress) – Since July 2009; – 609 followers; 77 posts • Twi`er – Since Aug 2009 – 570 followers; 2400+ tweets • Facebook – Since Dec 2009 • Google+, Pinterest – early days
- 5. © RiverRhee Consul.ng 2013 What has been my ROI in terms of paid work? Social Media training / wri.ng 1 to 1 tutorials 2009 -‐> St John’s seminars 2010-‐ 2011 Ar.cle (in FUMSI) 2012 Workshop Cambridge Network 2011 Work with previous colleagues Approx. 99% & 75% turnover 2010-‐2011 Approx. 75% turnover 2012/2013 New clients Gower publishing 2012 -‐> Warm leads 2013 New associates Collabora.on 2012 -‐>
- 6. © RiverRhee Consul.ng 2013 Social Media tools also deliver other ROIs They help you to: Build your reputa.on Build your network of connec.ons Build your knowledge They complement face-to-face networking and marketing to lead to referrals and clients..
- 7. © RiverRhee Consul.ng 2013 My networking & marke.ng media Library and Informa.on Science Life Sciences Cambridgeshire & Herkordshire Team Effec.veness NetKIX CILIP UKeIG TFPL Blogs Twi`er lists OneNucleus GSK & ex-‐GSK contacts StevBioSciCat Various LinkedIn groups Twi`er lists The Cambridge Network APM East of England Various LinkedIn groups Blogs Ex-‐GSK contacts APM IQPC Associates Facebook OneNucleus Melbourn BA Royston CoC LBIC
- 8. © RiverRhee Consul.ng 2013 OTHER PEOPLE’S (SURVEY) EXPERIENCE OF SOCIAL MEDIA 8
- 9. © RiverRhee Consul.ng 2013 Profile of 19 respondents (some anonymous) Robin Higgons Qi3 Ltd robin.higgons@qi3.co.uk Karen James, Lilac James QTP Environmental Ltd. 01223 269400 infor@qtpe.co.uk Amanda Brown, Managing Director, Alterra Amanda@alterra-‐ consul.ng.co.uk 07947 502760 Mark Collingwood www.tonicfusion.com Tonic Fusion 01727810254 Jamie Lesinski, Crossbar-‐fx, jamielesinski@crossbarfx.com 02031957136, @jamielesinski @crossbarfx Ed Goodman, Cambridge Business Lounge, 01223 324040 Richard Wishart, Delivery Management Ltd richard.wishart@del-‐ mgt.com Goncalo Syndicate room Alexandra Murphy Cambridge Network alex.murphy@cambridgenetwork.co.uk 1 – 25+ people in: Training Marke.ng (Social Media) Accoun.ng Financial management Mobile phones apps Distributor Payment services Analy.cal & formula.on Design Informa.on services
- 10. © RiverRhee Consul.ng 2013 To support web ac.vity Main reasons for using Social Media Establishing myself as a world wide expert Building trust with clients on a personal level Managing contacts and keeping in touch Job promo.on Lead genera.on Informa.on gathering Networking, discussion Other par.cipants are clearly and strongly linked to my business stream Communica.ng to target markets & influencers Promo.ng company news and events Personal and business development Broadcas.ng knowledge Building reputation Building connections Building knowledge To reach our network without spending vast amounts of money
- 11. © RiverRhee Consul.ng 2013 Social Media tools used YouTube eMarketing integrating social media No other
- 12. © RiverRhee Consul.ng 2013 Time spent per week
- 13. © RiverRhee Consul.ng 2013 Your ROIs • Much greater reach to new and exis.ng clients. • Avoiding “castle guard protec.on systems” • Less about "them and us" sales; more about sharing needs and solu.ons. • Get a real feel for people’s and companies’ problems. • A fresh, personal and free way of learning more about clients & sharing on their terms. • Engaging my client with a specific director in a hotel group gained a contract for £100,000+ via strategic use of LinkedIn. • Another client gained by responding to Twi`er ques.on – short-‐term project valued at £1,500. • ‘Selflessly retwee.ng' content important to prospec.ve clients = sort of statement of intent. • Retweets by others -‐ “I do consider this as a benefit” • Signs-‐ups and direct contacts from LinkedIn • Not having to travel so much to overseas conferences. • Maintaining my influence networks with relevant and persuasive original content. • Followers / website hits, interac.ons, contacts and business (proposals) (16) • None (3)
- 14. © RiverRhee Consul.ng 2013 CHALLENGES AND TIPS FOR ROI 14
- 15. © RiverRhee Consul.ng 2013 Your challenges / strategies • Effort and .me vs. ROI • Lack of flexibility; customisa.on • Misuse / unprofessional use of tools by others – Twi`er -‐ rescheduling tweets – LinkedIn -‐ headlines w/ no follow-‐up interest • Ge|ng corporate and worldwide target audiences onto the tools • Confiden.ality agreements limit what we can share • Keep up to date by con.nuously researching the plakorms and developing processes to streamline their effec.veness (a strategy) • Proper training applied to proper, tailored, strategy – Key words op.misa.on – Knowing the best .me of day to post on each plakorm – Keeping it relevant – Standing out in a sea of dross – Ve|ng connec.ons on LinkedIn; using others’ connec.ons for introduc.ons – Using the tools con.nuously and consistently – ‘Dance as if no-‐one is watching'
- 16. © RiverRhee Consul.ng 2013 A possible framework for your social media strategy Define your business goals Iden.fy and analyse stakeholders Assess the environment – what else is happening? Iden.fy key messages Select your tools & their use Define measures of success & monitor
- 17. © RiverRhee Consul.ng 2013 10 top .ps for greater ROI from Social Media 1. Decide what you want to use Social Media for (reputa.on, connec.ng, knowledge etc.) 2. Develop a strategy 3. Create personal profiles and business pages 4. Make your target customers and key offerings clear throughout 5. Listen and search, acknowledge and support others 6. Match your frequency and tone of updates to the tool 7. Join and par.cipate in relevant groups (and #tags) 8. Use ‘front-‐ends’ that help you to connect your use of tools, schedule updates etc. 9. Have links to your Social Media profiles from your web site, business card etc. 10. Get support from others e.g. – Other employees, associates post links to your Social Media business pages, retweet etc. – Guest blogs, – Marke.ng businesses The 3’I’s: Inform, Interact, Inspire!
- 18. © RiverRhee Consul.ng 2013 A selec.ve list of further reading • h`p://malharbarai.com/2013/04/11/10-‐ reasons-‐business-‐blogging-‐is-‐be`er-‐ infographic/ • h`p://www.damarque.com/blog/ gianluigi-‐cuccureddu/six-‐reasons-‐why-‐ b2b-‐twi`er-‐audiences-‐are-‐poor-‐quality • h`p://cooperlomaznews.co.uk/teams-‐ twee.ng-‐and-‐genera.on-‐y-‐why-‐business-‐ should-‐welcome-‐ways-‐of-‐working-‐from-‐a-‐ new-‐genera.on • /h`p://www.damarque.com/blog/ gianluigi-‐cuccureddu/forrester-‐four-‐major-‐ goals-‐enterprise-‐social-‐networking-‐ integra.on • h`p://www.damarque.com/blog/ gianluigi-‐cuccureddu/unlocking-‐social-‐ technologies-‐untapped-‐poten.al-‐annual-‐ value-‐13-‐trillion • h`p://commconn.co.uk/2013/02/20/ what-‐to-‐quote-‐when-‐your-‐boss-‐asks-‐why-‐ do-‐we-‐need-‐social-‐media/ • h`p://www.b2e-‐community.com/profiles/ blogs/it-‐is-‐not-‐about-‐roi-‐but-‐roe-‐on-‐social-‐ media?xg_source=ac.vity • h`p://elisabethgoodman.wordpress.com/ 2010/07/24/social-‐media-‐pu|ng-‐you-‐ and-‐your-‐business-‐at-‐the-‐heart-‐of-‐your-‐ community/
- 19. © RiverRhee Consul.ng 2013 elisabeth@riverrhee.com 07876 130 817 h`p://www.riverrhee.com LinkedIn: h`p://www.linkedin.com/in/elisabethgoodman h`p://www.linkedin.com/company/riverrhee-‐consul.ng Facebook: h`p://www.facebook.com/pages/RiverRhee-‐Consul.ng/243697391737 Blogs: h`p://elisabethgoodman.wordpress.com h`p://riverrheeconsul.ng.wordpress.com Twi`er: h`p://twi`er.com/ecgoodman Enhancing Team Effectiveness