This presentation on social media was prepared for the Senior Financial Planners Retreat in November 2009. We develop the topic of social media within the Strategic Marketing Framework and combine with other important online tools. The objective is to illustrate how these elements fit together and provide an "actionable" framework. This presentation was followed by a more detailed piece that outlines the specific workings of each (popular) social media tool.
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Social Networking - Nov 10 2009
1. Senior Financial Planners Retreat
Wilson Zehr
wzehr@cu-portland.edu
Strategic Marketing with Social Media
November 12, 2009
2. School of Management
What i Marketing?
Wh t is M k ti ?
Ads? Events?
Press? Sales?
Nov 12, 2009 Senior Financial Planners Retreat Slide 2
3. School of Management
Strategic M k ti Model
St t i Marketing M d l
Yes, all that and more…
Big M
little m
Nov 12, 2009 Senior Financial Planners Retreat Slide 3
5. School of Management
Promotion: M k ti Mi Ch i
P ti Marketing Mix Choices
Offline Online
radio telesales
television website email
newsletter
magazine
i promotion tradeshow viral
i l
discount infomercial webinar events
affiliates
coupons wiki banner
outdoor
td PLUS blogs
direct yellow MORE social
mail pages press media
portal release
word-of-mouth public directory
sports
relations search auction
marketing newspaper e g e
engine articles
Nov 12, 2009 Senior Financial Planners Retreat Slide 5
6. School of Management
Promotion: S l ti C it i
P ti Selection Criteria
B to G
B to C B to B
Understand Customer & Buying Behavior
Nov 12, 2009 Senior Financial Planners Retreat Slide 6
7. School of Management
Internet Audience: D
I t t A di Demographics
hi
8/22/2008
Nov 12, 2009 Senior Financial Planners Retreat Slide 7
8. School of Management
Internet Audience: Di it l Di id
I t t A di Digital Divide
Nov 12, 2009 Senior Financial Planners Retreat Slide 8
9. School of Management
Internet Audience: A ti it F
I t t A di Activity Frequency
Nov 12, 2009 Senior Financial Planners Retreat Slide 9
10. School of Management
Internet Audience: High Speed Access
I t t A di Hi h S dA
Nov 12, 2009 Senior Financial Planners Retreat Slide 10
11. School of Management
Online P ’
O li Pro’s & C ’
Con’s
Strengths
g Limitations
• Global Reach • Global Competition
• Content Rich • Penetration Rate
• Interactive • Passive Medium
• Immediate • T
Targeting Ability
ti Abilit
• Always On • Connection Required
• Cli k t B
Click-to-Buy • Offli
Offline C
Convergence
Nov 12, 2009 Senior Financial Planners Retreat Slide 11
12. School of Management
Step O
St One: Get O li
G t Online
• Determine Goal(s)
• Build credibility
i i ii
• Generate leads
• Capture online sales
• Integrate operations
• Establish Budget
• Select Website Solution
• Listing (e.g. online yellow pages)
• I t it (
Insta-site (e.g. h
homestead.com)
t d )
• Custom development
Goal(s) B d t Sh ld D i S l ti
G l( ) & Budget Should Drive Selection
Nov 12, 2009 Senior Financial Planners Retreat Slide 12
13. School of Management
Step O
St One: Get O li
G t Online
“Build It and They Will Come”
Well,
Not Really…
Nov 12, 2009 Senior Financial Planners Retreat Slide 13
14. School of Management
Step T
St Two: Get Found
G tF d
Search Engine Factoids
91.3%
91 3%
Search is used by over
90% of Internet users
Nov 12, 2009 Senior Financial Planners Retreat Slide 14
15. School of Management
Step T
St Two: Get Found
G tF d
How Search Engines Work
Internet
search
query
Nov 12, 2009 Senior Financial Planners Retreat Slide 15
16. School of Management
Step T
St Two: Get Found
G tF d
Organic
O i
Listings
Paid
Listings
Nov 12, 2009 Senior Financial Planners Retreat Slide 16
17. School of Management
Step T
St Two: Get Found
G tF d
Search Engine Marketing (SEM)
• Search Engine Optimization (SEO) Organic
• Research & select keywords Listings
• Optimize website content
• Cultivate inbound links
• Pay-Per-Click (PPC)
Pay Per Click Paid
• Urgent rank required Listings
• SEO takes time
• Site age is a factor
• Keyword is too broad for organic
• Important keywords we can’t optimize
Nov 12, 2009 Senior Financial Planners Retreat Slide 17
18. School of Management
Step Th
St Three: Create a Buzz
C t B
Email Marketing
• 134 billion messages per day (2009a)
• First “killer” online application (
pp (1971b)
• Single most popular online tool (96% users c)
• Communication fabric for social media
• Well understood and accepted
• Active when used online
The Original “Online” Social Media
a McAfee, Threat Report, Q1 2009
b Hobbes
Hobbes' Internet Timeline (http://www zakon org/robert/internet/timeline/)
(http://www.zakon.org/robert/internet/timeline/)
c University Southern California, 2008 Digital Future Report (http://www.digitalcenter.org)
Nov 12, 2009 Senior Financial Planners Retreat Slide 18
19. School of Management
Step Th
St Three: Create a Buzz
C t B
Obstacle: Growth of Spam
Unsolicited Email (SPAM) Regulated by CAN-SPAM
Source: McAfee, Threat Report, Q1 2009
Nov 12, 2009 Senior Financial Planners Retreat Slide 19
20. School of Management
Step Th
St Three: Create a Buzz
C t B
Spam Filters Reduce Deliverability
26.7% of legitimate commercial email is not delivered
g
Return Path (2009)
Nov 12, 2009 Senior Financial Planners Retreat Slide 20
21. School of Management
Step Th
St Three: Create a Buzz
C t B
Email newsletter
links to content
content lives on web site
Nov 12, 2009 Senior Financial Planners Retreat Slide 21
22. School of Management
Step Th
St Three: Create a Buzz
C t B
Why Should You Care?
• Effective When Used Correctly
• ROI of $43.62 for every $1.00 a
• Ranks 2nd in conversions behind SEO b
d
• 80.4% say email performs strongly c
• Ingredients for Success
g
• Do Not use for (cold) prospecting
• Build rapport with existing customers
• Assure recipients “opt-in”
opt-in
• Use reputable service
a Direct Marketing Association, 2009
b Forbes Media, Feb-Mar
F b M di F b M 2009
c Datran Media, Annual Marketing & Media Survey, 2009
Nov 12, 2009 Senior Financial Planners Retreat Slide 22
23. School of Management
Step Th
St Three: Create a Buzz
C t B
Direct Response “Rules of Thumb”
p
The Offer (20%)
( )
The List (70%) Creative (10%)
Nov 12, 2009 Senior Financial Planners Retreat Slide 23
24. School of Management
Step Th
St Three: Create a Buzz
C t B
Viral Marketing
• Word-of-mouth on Steroids
• Coined by Tim Draper (www.dfj.com)
• Technique used to launch Hotmail
• 12 million users; 1.5 years; $500K investment
• Simple link allowing others to subscribe
• Content spreads virally on the Internet
• Content continues to circulate
• Drive traffic and conversions
Nov 12, 2009 Senior Financial Planners Retreat Slide 24
25. School of Management
Step Th
St Three: Create a Buzz
C t B
What is Viral Content?
Video Audio
Games Tools
“Anything” That is Valuable & Unique to Recipient
“A thi ” Th t i V l bl U i t R i i t
Nov 12, 2009 Senior Financial Planners Retreat Slide 25
26. School of Management
Step Th
St Three: Create a Buzz
C t B
Fast Forward to
Social M di
S i l Media
Nov 12, 2009 Senior Financial Planners Retreat Slide 26
27. School of Management
Step Th
St Three: Create a Buzz
C t B
Social Media
• 1,000’s of Options
• Consumer
• Facebook/MySpace
• YouTube
• Twitter
• Business
• LinkedIn
• RSS/blogs
• SlideShare
Nov 12, 2009 Senior Financial Planners Retreat Slide 27
28. School of Management
Step Th
St Three: Create a Buzz
C t B
Nov 12, 2009 Senior Financial Planners Retreat Slide 28
29. School of Management
Step Th
St Three: Create a Buzz
C t B
Social Media
Business
B i
www.eMarketer.com
Source: Deloitte, “2009 Ethics & Workplace Survey”, Opinion Research, May 19, 2009
Nov 12, 2009 Senior Financial Planners Retreat Slide 29
30. School of Management
Step Th
St Three: Create a Buzz
C t B
Creators
Creators
Critics Critics
Collectors
Collectors
Joiners
Joiners
Spectators
Spectators Inactives
I ti
Inactives
Nov 12, 2009 Senior Financial Planners Retreat Slide 30
31. Nov 12, 2009 Senior Financial Planners Retreat Slide 31
June 11, 2007, Inside Innovation, BusinessWeek
32. The Nielsen Company, 2009
Nov 12, 2009 Senior Financial Planners Retreat Slide 32
33. School of Management
Step Th
St Three: Create a Buzz
C t B
Content Sharing
Web sites, news articles, whitepapers…
Nov 12, 2009 Senior Financial Planners Retreat Slide 33
34. School of Management
Step Th
St Three: Create a Buzz
C t B
Social Bookmarking – Top 10
Nov 12, 2009 Senior Financial Planners Retreat Slide 34
35. School of Management
Step Th
St Three: Create a Buzz
C t B
Social Bookmarking – Top 10
Nov 12, 2009 Senior Financial Planners Retreat Slide 35
36. School of Management
Step Th
St Three: Create a Buzz
C t B
Blogs – Top 10
Nov 12, 2009 Senior Financial Planners Retreat Slide 36
37. School of Management
Step Th
St Three: Create a Buzz
C t B
Blogs – Top 10
Nov 12, 2009 Senior Financial Planners Retreat Slide 37
38. School of Management
Socially Vi l “Get Found” R Vi it d
S i ll Viral: “G t F d” Re-Visited
email
il
viral relevant content Organic
back links Listings
social
The Gifts That Keep on Giving!
Nov 12, 2009 Senior Financial Planners Retreat Slide 38
39. School of Management
Step Th
St Three: Create a Buzz
C t B
Email alert
links t
li k to content
t t
content lives in LinkedIn
Nov 12, 2009 Senior Financial Planners Retreat Slide 39
40. School of Management
Socially Vi l Example
S i ll Viral: E l
Nov 12, 2009 Senior Financial Planners Retreat Slide 40
41. School of Management
Step Th
St Three: Create a Buzz
C t B
Social Media – Join the Conversation
• Setup Facebook account
• Complete your profile
• Import personal contacts
• Invite Friends
• Setup a LinkedIn account
• CComplete your profile
l t fil
• Import business contacts
• Send invitations to connect
• Setup Twitter and follow someone
• Setup my.yahoo.com (add personalization/RSS)
• Visit YouTube SlideShare, & StumbleUpon
YouTube, SlideShare
Nov 12, 2009 Senior Financial Planners Retreat Slide 41
42. School of Management
Summary
S
• Effective Marketing Starts with a “Strategy”
Strategy
• Match Marketing “Mix” to Prospect/Buying Behavior
• Integrate Offline/Online Promotions
g /
• Online Promotions Reach Affluent/Educated Audience
• Get Online
• Get Found
• Create a Buzz
• Build Exposure & Increase ROI
Live Long & Prosper ONLINE
Nov 12, 2009 Senior Financial Planners Retreat Slide 42
43. School of Management
BIO
Wilson serves on the faculty for the School of Management at Concordia
University, Portland, Oregon (www.cu-portland.edu). In addition, Wilson
y, , g ( p ) ,
is the CEO of Cendix (www.cendix.com) the leading provider of Web-to-
print solutions that increase sales both online and offline. Cendix also
provides strategic and tactical marketing consulting services for emerging
g
growth companies in the Pacific Northwest.
p
Wilson Zehr has 25 years experience in high technology and telecom –
Wilson Zehr over a decade of experience working with Internet-related products and
wilson@cu-portland.com services. He has created numerous new products/brands and successfully
wilson@cendix.com
wilson@cendix com brought them to market. In addition, he has crafted and managed strategic
market addition
alliances with many (20+) of the largest technology and communications
firms in the world. Mr. Zehr is a serial entrepreneur who has raised over
$60 million from investors; returned over $160 million; and bought/sold a
number of enterprises
enterprises.
More detailed background information on Wilson can be found at
http://www.cendix.com/about/management.html
Nov 12, 2009 Senior Financial Planners Retreat Slide 43