strategy to accelerate your business growth with social marketing

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  • 1. Strategy to Accelerate Your Business Growth with Social Marketing

2. 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 ProgramSocial Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 2 3. Imagine The ImpactImagine 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 inthe next 6 months What impact will this haveon your revenue and profit?Social Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 3 4. Traditional Methods of Lead GenerationTraditional Advertising Yellow Pages, YB Mailer Packs Local Magazines Newspapers How much are youspending monthly? Are you satisfied with yourreturn on investment?Social Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 4 5. Traditional Methods of Lead GenerationIssues & ChallengesHigh cost and low viewsPassive advertisingMinimal or no capability to measure resultsNo email list auto-buildingTypically a one-time transactional saleMinimal relationship developmentLow return on investmentReferral (viral) marketing not possibleSocial Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 5 6. New Group Marketing Techniques: AmazonLocal & GrouponBenefits Provides a low cost opportunity for prospects to try products & servicesIssues & 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 possibleSocial Marketing Advisors Copyright 2012info@SocialMarketingAdvisors.net 6 7. Relationship Xpansion with Social MediaEngage 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 effectivethan traditional advertising (viral marketing). Build relationships with prospects before they visit yourbusiness for the first time.How can this be achieved in a cost effective manner?Social Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 7 8. The Social Media Advantage 9. Social Media: The Foundation for Viral MarketingSocial Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 9 10. 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 businessWith various social media, which is best for viral promotional marketing?Social Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 10 11. 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 offersSocial Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 11 12. Social Media Marketing Program:Strategy, Methods & Measures 13. Defining Your Social Marketing Strategy Utilize the Facebook social network to acquire qualifiedprospects and expand relationships. Build a following of_____ fans. Encourage prospects and customers to refer you businessservice or products using viral marketing methods. Convert _____ prospects into customers with relationshipexpansion techniques. Increase sales while maintaining fixed costs.The additional net revenue will directlytranslate to net income .Social Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 13 14. Methods to Achieve Goals Let Facebook fans refer your business using viral marketingtechniques: contests, coupons Develop a flyer to inform existing customers about yourFacebook page and viral offers Build an effective email databasefor emailing promotionsSocial Marketing Advisors Copyright 2012info@SocialMarketingAdvisors.net 14 15. Methods to Achieve Goals Dedicate time weekly to interact with your Facebook fans andfurther build relationships Post product, service and other useful information to yourFacebook page several times weekly, shows up on your fansNews Feeds in FacebookSocial Marketing Advisors Copyright 2012info@SocialMarketingAdvisors.net 15 16. Determine SuccessYou cant manage what you dont measure. Its important todevelop proper measures and process to understand your ROI.Measures for aSocial Media MarketingProgram Measure increase in fans from viralmarketing activities Track prospect conversions tocustomers Analyze new customer revenue Evaluate return on investment (ROI)Social Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 16 17. Evaluate Future ROI Determine the net income generated by viral marketingtechniques that grow your revenues ROI Measure #1: Compare the short-term (6 month) probablenet income with the SMMP investment ROI Measure #2: Compare the long-term lifetime customervalue with the SMMP investment Short-Term ROI greater than 30% of program investment Long-Term ROI greater than 400% of program investmentSocial Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 17 18. Effective Use of Social Media 19. Facebook: Effective Social Media UseSocial Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net 19 20. Facebook: Example Offers PostedFans react tooffers and posttheir opinions Social Marketing Advisors Copyright 2012 20 21. Facebook: Example Posting on News FeedBusiness promotionsappear on News Feedwith link to companywebsite. No costpromotional method,however it needs fansto view the posting.Social Marketing Advisors Copyright 2012 21 22. Facebook: News FeedWhen logging in toFacebook the firstthing seen is the NewsFeed with postingsfrom friends andbusinesses like yoursthat have been liked.Social Marketing Advisors Copyright 2012 info@SocialMarketingAdvisors.net22 23. Developing YourSocial Media Marketing Program 24. To learn more about developing yoursocial media marketing program, please contact: Jeff White Social Marketing Advisors info@SocialMarketingAdvisors.netSocial Marketing Advisors Copyright 201224

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