Testing My Social Capital

Getting the ROI from my social media network

Kevin PopovićFounder & CEO, Ideahaus®

Do you participate in your network?

Today You Will Learn• How to get ROI from your social media network• A little bit about Social Capital• How to test your social capital• Why LinkedIn is the best place to start• Why I wrote the message I used• The results of my efforts• What I have learned

@KevinPopovicFounder & CEO of @Ideahaus

Ranked #43 Most Influential Peopleby Fast Company Influence Project

Speaker, Author of 20YEARS Communications: 20 Questions, 20 Leaders, 100’s of Lessons.

About Me

Agenda• Show you my message• Teach you something• Share my strategy• Talk about the results• Give you homework• Answer any questions

Testing my social capital…Okay, Aaron, according to theories of social capital I should be able to send you an email out of the blue and say, “Hey, I’m looking for clients!”

That theory is based on the value that you perceive in what have contributed to our social andprofessional relationship. If the value is high enough it may compel you to look at what you have

going on in your company, or forward me to someone you know that could fast track me to a…

• CEO who doesn’t have anyone handling communications but should• Marketing Director who doesn’t have a staff, and needs smart creative• VP of Sales who wants to train a sales force to use social media

So, I’m putting this theory to the test. And I’ll probably write another article about this, which, like others,

I’ll share with you: http://ideahaus.com/community.

Thanks in advance for giving this some consideration. Please let me know about any opportunities you

See for me or my company. - kp

The biggest challenge…

• The biggest challenge with social media isn’t growing a network, it’s identifying the return on investment.

What is Social Capital…

• Lin: Investment in social relations with expected returns in the marketplace

• Bourdieu: Used to demonstrate how people receive direct and indirect opportunities to places of power and position through the employment of their social connections

The challenge is cashing in…

• Once you “feel” like have some some social capital, how do you turn it into something of worth?

• What are you looking for?• What is the cost?

My LinkedIn profile…

Start with the people who know you.

Use the tools of the community.

Testing my social capital…Okay, Aaron, according to theories of social capital I should be able to send you an email out of the blue and say, “Hey, I’m looking for clients!”

That theory is based on the value that you perceive in what have contributed to our social andprofessional relationship. If the value is high enough it may compel you to look at what you have

going on in your company, or forward me to someone you know that could fast track me to a…

• CEO who doesn’t have anyone handling communications but should• Marketing Director who doesn’t have a staff, and needs smart creative• VP of Sales who wants to train a sales force to use social media

So, I’m putting this theory to the test. And I’ll probably write another article about this, which, like others,

I’ll share with you: http://ideahaus.com/community.

Thanks in advance for giving this some consideration. Please let me know about any opportunities you

See for me or my company. - kp

And now the results…

• Test Group = 300 connections• 28 responses (10%) within 24 hours• 3 acknowledgements, compliments• 5 no opportunity• 8 check back with me• 12 leads on new business I asked for

History tells me…

• 50% of the opportunities happen• 50% of those happen as presented

• 3,800 messages = touched all connections• 380 points of contact, 120 leads• 60 deals I asked for• 60 deals that were still deals

Move The Needle

Move The Needle

Draft your message, based on what I have taught you, and send it to me for review.

Stick to the model. Emulate, then innovate.

Connect with me, mention this class:http://www.linkedin.com/in/kevinpopovic

Homework

1. Don’t waste your social media network.2. Know your available balance before shopping.3. Keep it short and to the point.4. Keep it personal.5. If you don’t ask you don’t get.

Key Takeaways

Thank you, and good luck.

• kp@ideahaus.com• @KevinPopovic• http://ideahaus.com

Learn more at OnlineMarketingInstitute.org

Popović: 20YEARS Communications

20 Leaders, 20 Questions, 100’s of Lessons

Inside, 20 leaders from different corners of theindustry answer 20 questions on the evolution of communications, providing insight to where communications was, is, and will go.

The book includes links to 2.5 hrs of HD video.

Read the reviews, order online!