growing your business with social media

Growing Your Business with Social Media: How You can use Social Media as a Tool for Effective Word of Mouth Marketing

July 15th 2010Presented by:

Richard Sharp and Amberlie Denny

5 Things you want to know about this presentation:

1. The presentation will be 45 minutes including Q & A2. You can send your questions to us via your

GoToWebinar controls at any time during the presentation

3. We will answer timely, topic-specific questions during the presentation and save the rest for the Q & A period

4. We answer all the questions we don’t have time for during the presentation in a blog post later in the day

5. We will send out a link to the recording and a .pdf of the presentation slides after the presentation

What isWord of Mouth Marketing

Word of Mouth Marketing (WOMM)

involves the passing of informationabout a product or

service from person to person

From K!T on Flickr

From Intersection Consulting on Flickr

WOMM pioneer, George Silverman found in a study that two users having a good experience with a product could sway an entire group of skeptics.

Emanuel Rosen (The Anatomy of Buzz Revisited, Doubleday

2009) found that: learning from user experiences can actually reduce risk and uncertainty associated with adopting a new product or service

WOMM is personal, that means reviews communicated this way are timely and tailored to a specific audience

Where did WOMM Start?

• During the last century mass media grew in popularity

• TV and advertisements got attention and trust!

• BUT… overtime due to the sheer quantity of ads, they and their popular mediums

(i.e. TV) lost credibility

• Nielsen’s 2009 Global Trust in Advertising Survey found that:

– Peer recommendations are the most trusted form of advertisements

– Social media is expanding consumer’s positive and negative influences regarding brands

– Only 62% of people trust TV ads but 90% of people trust consumer recommendations

How has the Internet Changed WOMM

The internet has allowed conversations to spread around the globe and be heard by millions in minutes

Technology is shifting power away from the editors, publishers, the establishment, the media elite. Now it’s the people who are taking control.”

Rupert Murdoch, Owner of News Corp

“

Why do People have Conversations?

1. They love you.

2. They hate you.

3. They were asked their advice.4. Their community (online or

offline) is talking about you.

Image by Kris Hoet on Flickr

How can Social Media Help with WOMM

Social Media is low cost and has a low barrier to entry so it is available to a large number of people

Social media allows a large group of people to communicate their opinions about your product (good or bad)

Social Media facilitates WOMM on a much larger scale

Brands can now have direct conversations with a large portion of their target audience and drive meaningful relationships

How do you choosewhich socialmedia to use

You need to choose which social media tools

you use based on your target audience.

Don’t jump in just because the tool is popular!

Image by cszar on Flickr

Blogging – “A blog is a personal diary. A daily pulpit. A collaborative space. A political soapbox. A breaking news outlet. A collection of links. Your own private thoughts. Memos to the world.”

www.blogger.com

142 million The number of blogs on the internet as of July 12th

2010 Blogpulse.com

Image by Antigone78 on Flickr

Twitter – A social networking and microblogging service that allows you to send short messages (140 characters in length), otherwise known as “tweets” to your followers.

Image by Travelin’ Librarian on Flickr

50 millionThe number of tweets sent a day. That’s a 1,400 % increase in 2009.

Thenextweb.com

10 + Billion The number of tweets sent since 2006.

mashable.com

Image by TPorter2006 on Flickr

Facebook – a social networking website that allows users to add people as friends, send them messages, and update profiles to notify members about themselves.

Image by smlions12 on Flickr

500 MillionFacebook users worldwide.

techherald

5 Billion Pieces of content (web links, news stories, blog posts, notes, photos etc.) shared each week.

Digital Buzz Blog

Image by www.larrabetzutik.org on Flickr

LinkedIn – A professional social network that allows you to connect with contacts, exchange knowledge, and network with a broad system of industry professionals.

Image by Nan Palmero on Flickr

Digg.com – A social bookmarking site that allows users to discover and share content from anywhere on the web.

Image by Pulguita on Flickr

YouTube - A video-sharing website where users can share, upload and view videos on many different subjects and topics.

Image by jonsson on Flickr

2 Billion The number of videos

viewed daily on YouTube.

Mashable.com

Flickr - An image hosting and video hosting website that allows members of its online community to upload and share their content.

Image by Darwin Bell on Flickr

3,600,000,000The number of photos archived on Flickr.com as of June 2009.

Espresso (www.brandinfiltration.com)

Image by Capt Kodak on Flickr

Creating a Strategy for social media and WOMM

Find people who will talk about your product or service: • Bloggers• Fans• Customers• Influencers

Determine your social

media voice

Now give those people a reason to talk about you, like great content

Allocate the appropriate

resources

Make sure you’re in the right

place and then join the conversation

Create a

schedule , and stick to it!

Incorporate your social media with the rest of

your marketing initiatives

Image by Mishelle Lane on Flickr

So you know what to do…

But how do you know if it’s working?

You need to measure key metrics to drive improvement.

What should you be measuring?

Volume of derivative

content created

Intimacy -Brand

Sentiment

Involvement –Interactions

with your syndicated

content

Buzz - Amount of discussion about your company

Influence –Brand affinity, quality of web

presence

Forrester Research, Marketing’s New K ey Metric: Engagement , 2007

Free Social Media Monitoring Tools:

• Boardtracker.com - www.boardtracker.com

• Co.mments - http://co.mments.com

• Google Alerts - www.google.com/alerts

• CoTweet - http://cotweet.com

• Hootsuite – http://hootsuite.com

• Social Mention - www.socialmention.com

Image by S.Diddy on Flickr

6 Things you should take away from this presentation:

1. Social media is a tool for WOMM

2. WOMM is the most effective form of marketing3. The Internet and social media help facilitate WOMM on a

larger scale4. People will talk about you because they love you and because

they hate you.

5. It is important to know where you audience isinteracting with social media before you get started

6. You need to measure customer engagement metrics to understand the ROI of social media.

Richard Sharp, VP Marketing

richard.sharp@marqui.com

604.484.8543

Amberlie Denny, Marketing Coordinator

amberlie.denny@marqui.com

604.630.3712

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