Social Media for Business

Social Media Taster Webinar

September 2009

Is it just a fad?

Is it just a fad?

Where do I start?

Is it just a fad?

Where do I start?

Where’s the money?

What you stand to gain

• Cost effective marketing

• Brand trust & credibility

• Increased customer loyalty / retention

• Wider reach

• Insight into market opinion

• Improved collaboration

• Increased sales & profitability

What is Social Media?

“Media designed to be

disseminated through social interaction, created using highly accessible and scalable

publishing techniques.”

Wikipedia Definition

Social MediaSocial Media

Sociology +

Technology

UGC / CGM

Conversational Authentic

Real Time

Many to Many

Community

Social Media

What is Social Media?

Who’s using Social Media?

Graphic created using http://www.wordle.net/.

Some Statistics

• Facebook has more than 300m active users• More than 150m FB users log on every day• 10m+ FB users become fans of Pages every day• 77% of active internet users read blogs• 133m+ blogs indexed by Technorati• Time spent on Twitter soared 3,702% YoY in first half 09• LinkedIn gains 1 new user per second – 47m active• Executives from all Fortune 500 companies on LinkedIn• 10 hours of video uploaded to YouTube every minute

Some Demographics

• Highest indexing age groups on Facebook are those 25-34 (27%) and 35-49 (23%)

• Fastest growing user group on Facebook is 35+

• The average age of a Twitter user is 31

• The average age of a MySpace user is 27

• The average age of a LinkedIn user is 41

• The average earnings of a LinkedIn user is $109k

• 46% of LinkedIn users are Decision Makers

The Technology

Virtual Worlds

Live Streaming

SocialBookmarking

Aggregators

Sharing Sites

Wiki Sites

Social Networks

Blogs

Social MediaPlatforms

Credit: Brian Solis, www.briansolis.com JESS3, www.jess3.com

Preparing your approach

Identify your community

Preparing your approach

Identify your community

Define your objectives

Preparing your approach

Identify your community

Define your objectives

Allocate resources

Preparing your approach

Identify your community

Define your objectives

Decide your approach

Allocate resources

Preparing your approach

Identify your community

Define your objectives

Decide your approach

Allocate resources

Link to technology

Identifying your community

Customers Influencers Partners

Demographics

Technical ability

Interests

Geographic location

Staff

Journalists

Suppliers

Politicians

Allied trades

Competitors

Funders / Investors

Other regions

Some tips to get you started

• Find your existing connections first

• Ensure alerts and analytics are working

• Listen and engage in conversations

• Test, Monitor, Review and Tweak your approach

• Start with the idea that no one cares about your brand

• Remember that ‘Content is king’

• Keep it relevant to your audience

• Be ethical in your actions and respect etiquette

• Be clear in your objectives

• Don’t overstretch

• Quality over quantity

BusinessCornwall.co.uk

Case Study: Compare the Market

Case Study: Compare the Market

• 233,457 views on You Tube (Latest Ad)

• 579,520 Facebook Fans

• 26,759 Twitter followers

• 320% increase in pages views

• 108,000% increase in site reach

Where’s the money?

Case Study: Compare the Market

• 75% of monthly quotes target in 3 days

• 90% increase in quotes on same period

Case Study: Dell

Case Study: Dell

• Twitter stream used to message deals / coupons

• Customers can suggest ideas through ‘Ideastorm’

• 1,267,302 Followers on Twitter

• 40,498 Fans on Facebook

• Number of Flickr accounts

Where’s the money?

Case Study: Dell

• $2m Dell outlet sales

• $1m in other Dell.com purchases

• Total: $3m over first 18 months

In Summary…

• It’s not just a fad

• Start with a plan

• Understand your objective

• Monitor and tweak your approach

• Don’t start with the technology

• Remember it’s Social Media

• Quality over Quantity

• ‘Content is King’

More information

• Message me on Facebook, Twitter, LinkedIn or any other social network you find me on

• Check out the blog atwww.tonickmedia.com/blog

• Give me a call

• Send me an emailaren@tonickmedia.com