social network marketing
DESCRIPTION
How to use social media effectively for online marketingTRANSCRIPT
SOCIAL NETWORK MARKETING
Or… You “are” smarter than a third
grader.
SOCIAL NETWORK MARKETING
Sales – Give a man a fish
SOCIAL NETWORK MARKETING
Marketing – Teach a man to fish
SOCIAL NETWORK MARKETING
Social Media Marketing – Give a man a bass boat, 12 rods and reels, a case a beer and free weekend.
TWITTER, POKE, NUDGE, HUH?
SOCIAL NETWORKING
Defined.
SOCIAL NETWORKS
Any Online Community
SOCIAL NETWORKS
Nothing new
SOCIAL NETWORKS
Just a different speed,level of complexity
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?
CGM – Consumer Generated Media SMM – Social Media Marketing WOM – Word of Mouth Viral Marketing Buzz Marketing
WHY 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 MATTER
CGM -ConsumerGeneratedMedia
SOCIAL NETWORKS
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Why participate?
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"Five of the top 10 sites are social media. You need to go where the
people are.“- Rob Key, CEO of Converseon, a social media
marketing agency, SES San Jose 2008
SOCIAL NETWORKS
You can’t afford not to.
SOCIAL NETWORKS
WHY 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
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It’s (relatively) cheap.
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It’s great for building loyaltyand connection to consumers.
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Why bypass SN?-the pitfalls
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There are too many choices.
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You’re a needle in a haystack.
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You have a substantial problemwith long-term commitment.
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You’re a real square daddy-O.
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How to get started?
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Do’s and Don’ts
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Don't jump in with both feet and begin posting content.
Don't have a "self promotion" agenda.
Don't submit press releases.
Don't "check your brain at the door" before submitting content.
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Don't be greedy with your votes and comments.
Don't submit items and run (drive-by submission).
Don't just vote on items submitted by your mutual friends.
Don't share or send shouts for every item you submit.
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Do submit original or very interesting content.
Do be friendly and cordial with other members. Remember - it is a "social" site.
Do participate (a lot).
Do be positive.
SOCIAL NETWORKS
Do add friends to your profile.
Do vote and comment more than you submit.
Do explore the whole site.
Do try to be open-minded of other's criticism when they comment on your items.
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
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
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CUSTOMER RATING SYSTEMS
Definition: Enablement of users to rate and review
things at will Fast Facts:
About 8 in 10 US shoppers trust brands which offer customer ratings/reviews more than those that do not
62% of US online shoppers read product reviews written by other customers when researching products
99% of respondents believe that the (rating) information they get is very or somewhat credible
Source: Deloitte Consumer Product Group
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BLOGS
Definition(s): Blog - Web-based community sites usually written in the
first-person, conversational manner (blog = web log); Post - Written material available on a blog Blog Carnival – Sites that put together a lot of
information on a particular topic; hosted by a revolving case of volunteer editors, contain links to contributions submitted
Link Blogs – Also known as a social news site – principally links to and comments upon content from other sites
Video Blogs – Blogs based on video medium; more useful for some topics
Fast Facts: 12 million adults or 8% of Internet users, blog 57 million adults or 39% of Internet users, read blogs Technorati estimates the blogosphere doubles in size
every 6 monthsSource: Technorati
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PODCASTS
Definition: Audio files, which can be subscribed to or downloaded from
a website Fast Facts:
32% of respondents said their usage of podcasts has increased or significantly increased in the last 6 mos
41% said they had listened to podcasts on more than one occasion
13% said they frequently downloaded podcasts 34% said they were unfamiliar with podasts 69% said they listened at their computer Only 14% preferred short (< 5 mins); 32% said they were ok
with no limit if interesting 55% said they would be more likely to consume information
as a podcast vs. whitepaper
Source: KnowledgeStorm
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VIDEO CASTING/ONLINE VIDEO
Definition: Video files that can be subscribed to or
downloaded from a website, banner ad etc.
Fast Facts: 63% of respondents access video at
least weekly 78.1% said video makes online content
more compelling 57% said video content had influenced a
B-to-B technology buying decision Spending on online video will triple in
the next 3 yrs, growing from $775 million to $2.9 billion by 2010Source: KnowledgeStorm, B-to-B Magazine
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WIKIS
Definition: Reference website anyone cant contribute
to; enables group authorship – iterative – people undo and redo each others work
Fast Facts: 86% of respondents said they were very or
somewhat familiar with wikis 63% said they visited wikis primarily for
technology and business information Only 6% said they regularly contributed
content 57% said they never had
Source: KnowledgeStorm
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VIRAL VIDEO
Definition Videos created with the sole purpose of going
viral Fast Facts
Success is generally defined as 15K to 20K views; highly successful videos garner 25K to 35K views
You need 50K views to get a video into the “most viewed” list
Each video has a shelf life of 48 hours before it is moved from the “daily most viewed” list to the “weekly most viewed list”
Tier 1 relative sites: Youtube, Google Video, vids.myspace.com, Yahoo Video, MSN Video, AOL Video
Source: Siesmicom
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SOCIAL NETWORKING
Definition: Leveraging existing Social Networking Sites
(SNSs) to build relationships that lead to marketing value
Fast Facts: 60% of adult respondents currently interact
with companies on a social media web site 93% believe a company should have a
presence in social media Social Networking advertising 2008 revenues
broke $1.5 billion 30 million US Millennials will subscribe to
mobile social networking services by 2012Source: Cone Business in Social Media study, In-Stat
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MARKETING BENEFITS/USES
Influence the public conversation Make it easy for journalists to find you Deliver unedited messages in your own voice Manage crisis situations
Enhance brand visibility and credibility Appear higher in search rankings Establish expertise in industry subject area Give company a human voice
Achieve customer intimacy Develop deeper relationships
Fuel marketing effort Bring new products to market Generate buzz Develop new, creative campaigns
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EFFECTIVENESS OF NEW MEDIA PLATFORMS
51%
27%
45%
50%
55%
20%
32%
13%
6%
33%
13%
27%
11%
36%
0%
59%
54%
44%
41%
41%
26%
23%
21%
17%
17%
15%
14%
14%
10%
8%
0% 10% 20% 30% 40% 50% 60% 70%
Own website
Webinars
Email Mktng
SEO-Organic
SEO-Paid
Video on demand
Viral video
Podcasts
Blogs
Online ads
Mobile
Wiki
RSS Feeds
Social Networks
Second life
B-to-B B-to-CSource: Guideline
SOCIAL NETWORKS
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The Ones:YouTubeMySpaceFacebook
SOCIAL NETWORKS
Others:LinkedIn
Orkut
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Ask your kids.
SOCIAL NETWORKS
A presentation on
Social Media Marketing
by Arun Pattnaik