social media [what, why, how]

[objective]

to answer three questions:

what is social media?why should my business have a

social media strategy?how do we measure benefits and

ROI?

[what is social media]

social media is a set of web-based tools that let

people communicate without being face-to-face.

there are a lot of tools.

The most popular social media tools for business are Facebook, Twitter, YouTube, Flickr, LinkedIn, and blogs.

Each social media tool serves a different purpose.

“Social media is not about Facebook or MySpace or Flickr or Twitter or blogs or YouTube. It’s about having a strategy for making your company or organization more like a person and less like a machine. It’s about humanization.”

Jason Baer

www.convinceandconvert.com

it’s a marathon, not a sprint.

social media is: social media isn’t:

a conversation

a good way to raise your internet profile

a way for potential clients to find and get to know your business

a marathon

a targeted community of the right people

a sales pitch

a guaranteed book deal or appearance on Oprah

a get-rich-quick scheme; a panacea; or an excuse to stop selling

a sprint

a giant audience of any people who’ll listen

[why you need a strategy]

social media is not going away. the tools and buzzwords may

change, but the desire to feel connected to the companies you do business with will not.

This man* cost United Airlines an estimated $180 million when his complaint went viral on YouTube, Facebook, Twitter,

and other internet sites. If you aren’t paying attention, a volcano could erupt

online without you knowing it.

*(more to come on him)

[three things you get]

1. engagement: better word-of-mouth & deeper relationships with customers.

2. immediacy: real-time ability to target promotions.

3. community: a group of people who are there voluntarily.

[engagement]

Social media marketing generates:

- positive word-of-mouth and awareness for your brand.

- increase in mentions of your company (conversational market share).

word-of-mouth is: 7x more effective than a newspaper ad5x more effective than a personal sales pitch2x more effective than a radio ad

-marketing science institute, 2006

when businesses think about your product or service category, you want to be the first thing they think of.

Stronger customer acquisition

a customer acquired through traditional marketing is expected to bring a company 1.59 new customers in a lifetime.

a customer acquired through word-of-mouth marketing is expected to bring 3.23.

-villanueva, yoo, hanssens

Relationships built on trust

76% of consumers don’t believe that companies tell the truth in advertising.-yankelowich, 2006

80% of ceos believe their brand provides a superior customer experience. 8% of their customers agree.

-bain & company

54% of consumers avoid products and services that overwhelm with advertising.

-yankelowich, 2006

[immediacy]

1. Build a community on Facebook , Twitter, your blog, etc.

2. Establish trust. Share and produce useful content, not just sales pitches.

3. Give them offers when you need them, and you’ll have built up a community of trust that makes them more likely to take action.

For example, you have a new product to roll out. With a community built on trust, your customers will not only be the first to jump on board, but they’ll thank you for the opportunity to do it.

[community]

“…people have been endlessly fascinated by one another for a very long time. social networking is not new; we just have new ways to do it.”-joe kraus, google

“remember, relationships are a two-way street. you can’t always ask ask ask -you have to give in return.”-holly buchanan, www.grokdotcom.com

“think dinner with clients, rounds of golf, customer appreciation events.we don’t do these things because they themselves have an immediate impact on the bottom line…. it’s about working to increase the likelihood that your business is the one people choose.”-amber naslund, radian6

[lack of community]

More than 3 million people saw this video describing United’s terrible customer service, and 14K commented with similar stories.

for any company, a measurably engaged community means you’re top of mind when clients need you most.

[how to measure roi]

one size does not fit all. your success should be

determined by your objectives. social media is infinitely

measurable, as long as you are strategic and know what you

want to achieve.

If your social media objective is…. Then measure success by….

Deepening your relationship with existing customers….

Spreading the word to as many people as possible….

Improving your search results….

Establishing authority in a particular field….

Driving revenue to a particular time period or product line….

Counting the number of referrals you get from fans and followers.

Tracking your fan and follower counts.

Benchmarking and tracking how you rank over time.

Counting how often you appear in queries.

Counting how much incremental revenue you make.

measure roi based on your objectives.

[facebook]Insights: shows you who your fans are…

[facebook]…and how they interact with your page

Post Quality measures the percentage of fans who engage when you post content compared to like pages with similar fan counts.

[twitter]what is your reach?

Twitter metrics are new and based on algorithms. Twitter Grader gives you a grade, and Twitterank a ranking, based on your reach and authority on Twitter. We will also watch number of followers and number of retweets (mentions).

My grade of 92 means that I’m in the top 10%. My rank of 12.65 puts me in the 80th

percentile.

[case study]

Liza’s Kitchen is a family restaurant focused on high-quality ingredients and fresh preparations of food in a relaxed, beach atmosphere. With a new, larger location and patio; beer and wine sales; and a new evening meal period; there are several opportunities that must be leveraged simultaneously in order to maximize revenue. Liza’s Kitchen is embarking on a period of major growth. Because the principals of the business are fully engaged in the daily operation, now was the time to bring in outside help to make sure none of these opportunities are missed.

GOAL: Increase revenues while maintaining profit margins and quality of life.

STRATEGIES:

Streamline and Expand Catering BusinessMaximize Wine Sales and Expertise – Position Cat as Local Wine ExpertPosition New Location for New or Non-Traditional Types of Business

[please note: this client doesn’t use twitter. hive does a great deal of traditional marketing and PR work for them as well as social media.]

[results so far]

Facebook Fan Page April 14, 2.30 pm 0 fansApril 16, 10.53 pm 296 fansMay 25, 2.14 pm 463 fansJuly 15, 12.50pm 655 fansOct. 6, 12.34pm 923 fansDec. 3, 10.22am 1,009 fans

Fan EngagementFavorite menu item 40 commentsPre-Event Poll 17, 3, & 13 commentsPost-Event Poll 10 commentsProduct Pictures 11 commentsCooking Tips 3, 4, & 10 commentsDirect Calls to Action 8, 3, 2, 1, & 5 comments

Special Events via FacebookWine Tasting Strongest revenue performance ever for meal periodCooking Demo Sold out event; sold highest amount of retail product ever

"Susan implemented a comprehensive strategy for us that is helping grow our business without killing us! HIVE built our database from zero to 300 in three days, allowing us to reach out with new information real-time."

- Cat and Mike Meek, Proprietors

Liza’s Kitchen

questions?

To contact HIVE Marketing, LLC | Susan Barrysusan.barry@hive-marketing.com

404.964.5765@hivesusan | www.facebook.com/hivemarketing