socialnomics: icor presentation

Socialnomics: The Revolution of Social Media

ICOR, October 2009

About Crystal

Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com

CO Native, GO BRONCOS!

DANCE!

Social media addiction started Spring 2007

Started 3 Elements in May of 2009

Self-Proclaimed Tech Dork


If you worry about what might be, and wonder what might have been, you will ignore what is. ~Author Unknown

Social Media & Web 2.0


Social media: Transforming people from content readers into publishers

Web 2.0: Interactive, online networking

Examples:Social Networking: Twitter Linked In Facebook MySpace

Social Bookmarking: Stumble Upon Delicious

Web 2.0 Podcasts Wikipedia


WOW!

Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.comSocialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com

$1.54 billion spent on world-of-mouth, social media

marketing in 2008

The Facts


The Facts


By 2010 Gen Y will outnumber Baby Boomers

1 out of 8 couples married in the US last year met via social media

96% of them have joined a social network

The Facts


Years to reach 50 million users:

RADIO – 38 TV – 13

Internet – 4

IPOD – 3

Facebook added 100 million users in less than 9 months

iPod application downloads hit 1 billion in 9 months

The Facts


1. China2. India3. US4.Facebook5. Indonesia6. Brazil7. Pakistan8. Bangladesh

If Facebook was a country, it would be the 4th largest in the world.

The Facts


1 in 6 higher education students are enrolled in online curriculum

80% of companies are using Linked In as their primary tool to find employees

The fastest growing segment on Facebook is 55-65 year-old females

YouTube is the 2nd largest search engine in the world – more than 100,000,000 videos

The Facts


If you were paid a $1 for every time an article was posted on Wikipedia you would earn $156.23 per hour

78% of consumers trust peer recommendations

Only 14% trust advertisements

Only 18% of traditional TV campaigns generate a positive ROI

The Facts


35% of book sales on Amazon are for the Kindle when available

24 of the 25 largest newspapers are experiencing record declines in circulation because we no longer search for the news, the news finds us.

In the near future we will no longer search for products and services they will find us via social media

More than 1.5 million pieces of content (web links, news stories, blog posts, notes, photos, etc.) are shared on Facebook…

daily.

It’s about the Conversation


How does this apply to me?

Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.comSocialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com

Personal Business

Information/Learn

Conversation

Share Pics, Ideas

Ask Questions

Recreational

Events – Make Plans

Build New Relationships

Job Seeking

Build New Relationships

Gain Online Exposure

Enhance Customer Service

Talk to customers/clients

Enhance reputation

Promote biz, products, news

Increase traffic, sales

The 4 Power Players

+ BlogSocialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com

Mission (sort of): “Connecting. Sharing. Laughing. Learning. Relationships.”

Microblogging website

Fastest growing network – 1900% growth in 1 year!

60+ million members

Largest age group = 35-49

Every post indexed by Google

*New* - Twitter Posts found in Google Searches!


Mission:“To give people the power to share and make the world more open and connected.” – CEO, Mark Zuckerberg

Known for photos, videos, apps, news feeds and the wall

Over 300 million active members

4th most trafficked website in the world

Fastest growing demographic = age 35+

Largest photo-sharing platform 1 billion photos/month

5 Ways to Play: Profile, Page, Group, Causes, Ads

Education, Mature, Money!Socialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com

Mission : “To connect the world’s professionals”

Over 48 million members in over 200 countries and territories around the world

New member joins approx. every second, and about half of members are outside the U.S.

Executives from all Fortune 500 companies are LinkedIn members

Job searching and B2B


Mission : “Our mission is to provide fast and easy video access and the ability to share videos frequent.”

Every minute, 20 hours of video is uploaded to YouTube

Broad age range, 18-55

Acquired by Google in Nov 2006


Blog

One of the best ways for SEO – Keywords!

Allows authenticity and detailed information delivery to provide credibility to readers

Blogspot.com Wordpress.comWordpress.org (self-hosted)


2 More!

ActiveRain.com – 162,453 professionals on the world’s largest real estate network - free

Trulia.com - real estate search engine that helps find homes for sale and provides real estate information at the local level to help make better decisions in the process.

Real Estate Pros:Market listings View real estate data Promote services


Twitter + Facebook = Relationship Management and

Visibility Tools

– Mari Smith, Relationship Marketing Specialist


“Like me- Know me- Trust me- Pay me.” – Joel Comm, New York Times Best Selling

Author and Social Media Expert


Social Media Objections

I don’t have time

I don’t know what I would talk about

I don’t want to learn how

I don’t want the entire world to know about my life/protect privacy

I don’t know how/best practices

I don’t understand how I make money

Twitter/Facebook is for kids, not me

How do I measure my ROI?

I don’t want to lose interpersonal/face timeSocialnomics: The Revolution of Social Media Crystal Vilkaitis, 3Elements, 3ElementsMarketing.com

Social Media AnswersI don’t have time – 3rd party clients, delegate, hire company

I don’t know what I would talk about – 70/20/10 Rule

I don’t want to learn how – have someone else learn in house, hire company

I don’t want the entire world to know about my life/protect privacy – Say what you’re comfortable with

I don’t know how/best practices – local seminars, ebooks, companies, ask!

I don’t understand how I make money – Building Relationships = Sales!

Twitter/Facebook is for kids, not me – Baby boomers: fastest growing audience on FB. Twitter = 35-49, it’s where $$ is being spent!

How do I measure my ROI? – Track traffic, alerts, Alexa and Google PR, RT’s, testimonials, online sales

I don’t want to lose interpersonal/face time – MeetUp…think TweetUp!


Social Media + Marketing PlanPortion of the plan

What are your SM goals?

Audience?

Appropriate outlets?

Budget/Time?

SM Strategy for promotions, announcements, etc.

Measurement – ROI?


Business Case Studies

Last December, seeking to enhance sales, Gary Vaynerchuk offered free shipping and promoted it three ways:

Direct marketing mailing cost $15,000 and brought in 200 new customers;

Billboard ad cost $7,500 and won 300 new customers;

Tweeting the promotion on Twitter attracted 1,800 new customers


–– Gary Vaynerchuk, who grew his family business from $4 million in sales to $50 million using Social Media, NYTimes.com, March 2009

http://www.nytimes.com/2009/03/12/business/smallbusiness/12social.ready.html?_r=2

Personal Case Study

Donations Help 3-Year-Old Get Closer To Final Wish


CBS4 paid it forward with a $1,000 check on Oct 1st, 2009 for Disney Land

By Oct 5 th, Isaac was in Disney Land because of Twitter

Campaign of Donations with Alyssa Milano and CEO of Twitter’s help

Where to find me

Twitter - @madametwit – Twitter.com/MadameTwit

Facebook – Facebook.com/Crystal.Vilkaitis

Linked In – LinkedIn.com/in/CrystalVilkaitis

YouTube – YouTube.com/user/CrystalVilkaitis

StumbleUpon – CrystalVilkaitis.StumbleUpon.com



If you worry about what might be, and wonder what might have been, you will ignore what is.

~Author Unknown

References


Social Media Facts, Stats, Definitions:

Qualman, Erik. Socialnommics. 2009. Print. http://socialnomics.net

Smith, Mari. Consultant. http://marismith.com

Wikipedia - http://en.wikipedia.org/wiki/Social_media

Gary Vaynerchuk, March 2009, http://NYTimes.com

Pay It Forward Colorado, Donations Help 3-Year-Old Get Closer To Final Wish, by Suzanne McCarrol, http://cbs4denver.com/payit4ward/wish.isaac.krebs.2.1214522.html

http://socialnomics.net/

http://marismith.com/

http://en.wikipedia.org/wiki/Social_media

http://nytimes.com/

http://cbs4denver.com/payit4ward/wish.isaac.krebs.2.1214522.html