Social Networks as Online Marketing Social Networks as Online Marketing Tools: New Trends in Social MediaTools: New Trends in Social Media
Bill Balderaz Webbed Marketingwww.webbedmarketing.com
AgendaAgenda
• What is a Social Network?
• Why Social Networks Matter
• Trends in Social Networking– Facebook– Twitter– Second Life– YouTube
What is a Social Network?What is a Social Network?
• An online meeting place for consumers and influencers
• to create,
• share and
• interact with
• content.
What is a Social Network?What is a Social Network?
• YouTube• Facebook• MySpace• LinkedIn• Amazon• Technorati• Flickr
• CitySearch • Wikihow• Wikipedia• Craigs List• Newsvine• Yahoo! Answers• Digg
What is a Social Network?What is a Social Network?
• CGM—Consumer Generated Media
• SMM—Social Media Marketing
• WOM—Word of Mouth
• Viral Marketing
• Buzz Marketing
What is a Social Network?What is a Social Network?
Why Social Networks MatterWhy Social Networks Matter
“Search, as we know it, is dead… with the rise of social networking sites such as Facebook, MySpace, Twitter, Second Life, LinkedIn …the next generation of Web users may find what they want by using their social network rather than a search algorithm. After all, the people in your online social network should know you better than a mathematical equation, right? --Glenn Derene
Why Social Networks MatterWhy Social Networks Matter
“Consider how much information you voluntarily provide on your Facebook profile. Now imagine if you could combine that with your Netflix renting and Amazon buying habits. Then throw in the suggestions of your friends and the pages you visit the most often. ..just imagine how accurate a search could be if every time you had a query, the mass of data about you that exists on the Internet could inform the results.” --Glenn Derene
Why Social Networks MatterWhy Social Networks Matter
• 47% of all respondents said they would go to a social networking site to download coupons or search for gift ideas if those services were available;
• 45% said they would visit a social networking site to find out about upcoming sales in stores or discounts on products;
• 22% said they would read or write a product review on a blog.
--BrandWeek
Why Social Networks MatterWhy Social Networks Matter
Why Social Networks MatterWhy Social Networks Matter
Why Social Networks MatterWhy Social Networks Matter
Why Social Networks MatterWhy Social Networks Matter
Why Social Networks MatterWhy Social Networks Matter
Why Social Networks MatterWhy Social Networks Matter
Why Social Networks MatterWhy Social Networks Matter
Why Social Networks MatterWhy Social Networks Matter
• The most visited sites on the Internet:– #3 MySpace– #4 YouTube– #5 Facebook– #7 Wikipedia– #11 Blogger.com– #12 Craigs List– #15 Photobucket– #20 Flickr
Alexa, May 2008
Trends in Social Media
• Social Networks
• Microblogging
• Web 3.0?
• Video
• Microsoft paid $240 million for a 1.6% stake in facebook
• Facebook is the 5th most popular site on the Internet
• 70 million active users
• 40 billion page views per month
• Facebook applications are hot VC property
• Facebook current valuation?
• Current revenue?
How can I use facebook?
• To listen! Your competitors, vendors, customers and prospects are talking about you, right now.
• To build a presence
• To enhance search engine ranking
• To communicate (but not to sell!)
• Start connecting with friends, classmates, neighbors, clients, relatives…
• What are you doing right now?
• Web, IM, Phone
• Real time interaction in one sentence
• One million users
• Traffic increased 800% in one year!
• Twitter accounts have monetary value
How can I use Twitter?
• To listen! Consumers and the media are talking about you in real time, openly and honestly
• To learn about the competition
• To communicate (but not to sell)
• Build your profile and start connecting
Second Life
Second Life
• Participants, socialize, spend money and sue each other
• With over 13 million registered users, on an average, $1 million is spent each day buying food, clothes, shelter and other virtual products
• 38,000 members online at any one moment
Second Life
• The Second Life realtor who made more than $1 million real dollars selling real estate
• The Second Life shoe store owner whose real job is selling virtual shoes
• Dell & Sun hold press conferences on Second Life
Second Life
• Coke sells Coke in Second Life
• HR Block does taxes
• The National Council offer mental health awareness
• CNN has a SL new bureau
• A real court case over a virtual crime
Second Life
• The FBI gambling investigation
• IBM’s company meetings
• The Jesuit Order is encouraging priests and followers to join Second Life
• And thousands of small businesses are active!
How can I use Second Life
• It is okay to sell here!
• Build your business, market your business
• Become a media darling
YouTube
• Total videos uploaded as of March 17th 2008: 78.3 Million
• Videos uploaded per day: over 150,000
• 64 million monthly unique visitors
• Nearly perfect representation of Internet users
YouTube
Tens of thousands of views!
YouTube
YouTube for small business
Cost per impressions can be next to nothing
• Charlie bit my finger
• The Parodies, imitators and tributes “The YouTube Effect”
How you can use YouTube
• Buy a Flip camera
• Or use PPT to create online demos
• Set up a YouTube Channel
• Start connecting with partners, prospects, clients, coworkers and friends
Get Social Today
• Attendance and enthusiasm are half the game
• Dedicate time to making this work
• Bring wine
• Seek first to understand, then to be understood
• The conversation is going on right now, the only decision is if you will be involved
For more information…
• The Ohio Web Leaders Conference– May 19th
– www.webbedmarketing.com– www.ohiowebleaders.com
