strategy to accelerate your business growth with social marketing

Strategy to Accelerate Your Business Growth

with Social Marketing

Topics Investigated

• Introduction & Traditional Marketing Methods

• The Social Media Advantage

• Social Media Marketing Program: Strategy, Methods & Measures of Success

• Effective Use of Social Media

• Viral Marketing & Social Networks

• Developing Your Social Media Marketing Program

2Social Marketing Advisors – Copyright 2012 [email protected]

Imagine The Impact

Imagine the effect on your business with:

• 2,000+ new qualified prospects in the next 60 days

• Converting 100 prospects into repeat customers

• And more than 200 new customers in the next 6 months

What impact will this haveon your revenue and profit?


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Traditional Methods of Lead Generation

Traditional Advertising• Yellow Pages, YB• Mailer Packs• Local Magazines• Newspapers

• How much are you spending monthly?

• Are you satisfied with your return on investment?

Social Marketing Advisors – Copyright 2012 [email protected]

Traditional Methods of Lead Generation

• High cost and low views• Passive advertising• Minimal or no capability to measure results• No email list auto-building• Typically a one-time transactional sale• Minimal relationship development• Low return on investment• Referral (viral) marketing not possible

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Issues & Challenges


New Group Marketing Techniques:AmazonLocal & Groupon

• Provides a low cost opportunityfor prospects to try products & services

Issues & Challenges• Promoted only to subscribers

of these services• Loss leader concept, the group

marketers keep 50% of the “deal” price

• No email list auto-building• Typically a one-time transactional sale• Minimal relationship development• Low return on investment• Referral (viral) marketing not possible

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Benefits


Relationship Xpansion with Social Media

Engage more prospects and customers with RelationshipXpansion (Rx) techniques:

• Develop offers that can be shared by prospects and customers.

• Use third-party referral methods that are much more effective than traditional advertising (viral marketing).

• Build relationships with prospects before they visit your business for the first time.

How can this be achieved in a cost effective manner?


The Social Media Advantage

Social Media: The Foundation for Viral Marketing


Social Media Marketing

• Utilize social networking for enhanced exposure

• Interact with people and build relationships

• Fans become your referral enginewhen they have a good reasonto share your business

With various social media, which is best for viral promotional marketing?


Social Media Marketing: Facebook

• Why Facebook? Explosive growth and market penetration, over 150,000,000 users in the U.S.

• Users are on Facebook more than one hour daily

• No cost for a business page

• No cost for promotionalpostings and photos

• Ability for contests andcoupon offers


Social Media Marketing Program:Strategy, Methods & Measures

Defining Your Social Marketing Strategy

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• Utilize the Facebook social network to acquire qualified prospects and expand relationships. Build a following of _____ fans.

• Encourage prospects and customers to refer you business service or products using viral marketing methods.

• Convert _____ prospects into customers with relationship expansion techniques.

• Increase sales while maintaining fixed costs. The additional net revenue will directly translate to net income .


Methods to Achieve Goals

• Let Facebook fans refer your business using viral marketing techniques: contests, coupons

• Develop a flyer to inform existing customers about your Facebook page and viral offers

• Build an effective email database for emailing promotions


Methods to Achieve Goals

• Dedicate time weekly to interact with your Facebook fans and further build relationships

• Post product, service and other useful information to your Facebook page several times weekly, shows up on your fan’s News Feeds in Facebook

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Weekly Interaction is Important


Determine Success

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You can't manage what you don’t measure. It’s important to develop proper measures and process to understand your ROI.

Measures for a Social Media Marketing Program• Measure increase in fans from viral

marketing activities• Track prospect conversions to

customers• Analyze new customer revenue• Evaluate return on investment (ROI)


Evaluate Future ROI

• Determine the net income generated by viral marketing techniques that grow your revenues

• ROI Measure #1: Compare the short-term (6 month) probable net income with the SMMP investment

• ROI Measure #2: Compare the long-term “lifetime customer value” with the SMMP investment

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Short-Term ROI greater than 30% of program investment

Long-Term ROI greater than 400% of program investment


Effective Use of Social Media

Facebook: Effective Social Media Use


Facebook: Example Offers Posted

Fans react to offers and post their opinions

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Facebook: Example Posting on News Feed

Business promotions appear on News Feed with link to company website. No cost promotional method, however it needs “fans” to view the posting.

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Facebook: News Feed

When logging in to Facebook the first thing seen is the News Feed with postings from friends and businesses like yours that have been “liked”.


Developing Your Social Media Marketing Program

To learn more about developing yoursocial media marketing program, please contact:

Jeff WhiteSocial Marketing [email protected]

24Social Marketing Advisors – Copyright 2012

strategy to accelerate your business growth with social marketing

Documents

social marketing strategy

viral marketing methods

viral promotional marketing

social networking

social mediaengage

facebook social network

new group marketing

viral marketingtechniques