SOCIAL MEDIA MARKETINGSOCIAL MEDIA MARKETING

Your Host: Your Host: Lydia Fine, Adjunct LecturerLydia Fine, Adjunct LecturerSocial Media MarketingSocial Media Marketing

(also MBA Recruiter Extraordinaire)(also MBA Recruiter Extraordinaire)

Today on Social Media Marketing…

• Why do we care?• Pervasive myths• Cardinal Rules• Platforms• How to stay informed• Answering the interview question

SOCIAL MEDIA: WHAT IS IT?SOCIAL MEDIA: WHAT IS IT?You think you know, but you have no idea. You think you know, but you have no idea. (Okay, that’s an exaggeration.)(Okay, that’s an exaggeration.)

40 YEARS AGO WE WERE FAIRLY RESTRICTED BY THE 40 YEARS AGO WE WERE FAIRLY RESTRICTED BY THE MEDIA WE COULD CONSUMEMEDIA WE COULD CONSUME

TV, radio, newspapers, magazines, records

TODAY, THE MEDIA WE HAVE AT OUR DISPOSAL IS TODAY, THE MEDIA WE HAVE AT OUR DISPOSAL IS COMMONPLACE AND EVERYWHERECOMMONPLACE AND EVERYWHERE

Internet, mobile phones, blogs, text messaging, apps

“…“…an umbrella term that an umbrella term that defines various activities that defines various activities that integrate technology, Social integrate technology, Social Interaction, and the Interaction, and the construction of words and construction of words and pictures.” pictures.” Wikipedia

Social media is…Social media is…

ANYONE THINK SOCIAL MEDIA IS A LOAD OF POO?ANYONE THINK SOCIAL MEDIA IS A LOAD OF POO?

YOUR NEXT BOSS VERY WELL MIGHT.YOUR NEXT BOSS VERY WELL MIGHT.

RUPERT MURDOCH

RUPERT MURDOCH

DISAGREES

DISAGREES

““To find something comparable, you have To find something comparable, you have to go back 500 years to the printing press, to go back 500 years to the printing press, the birth of mass media… Technology is the birth of mass media… Technology is shifting power away from … the shifting power away from … the publishers, the establishment publishers, the establishment … … Now it’s Now it’s the people who are taking control.”the people who are taking control.”

Rupert Murdoch, Wired Magazine, July 2006

AND AS TRADITIONAL MEDIA LOSES THE AND AS TRADITIONAL MEDIA LOSES THE DOMINANCE IT ONCE HAD…DOMINANCE IT ONCE HAD…

AND THIS NEXT SLIDE IS WHERE AND THIS NEXT SLIDE IS WHERE MARKETERS GET IT WRONGMARKETERS GET IT WRONG

YOU SEE, IT’S NOT ABOUT EYEBALLS…YOU SEE, IT’S NOT ABOUT EYEBALLS…

NOR IS IT ABOUT GETTING “HITS” NOR IS IT ABOUT GETTING “HITS”

AND IT’S DEFINITELY NOT AND IT’S DEFINITELY NOT ABOUT SELLINGABOUT SELLING

(as soon as you overtly try to sell, (as soon as you overtly try to sell, listeners tune you out)listeners tune you out)

IT’S ABOUT IT’S ABOUT BEING HUMANBEING HUMAN(as cheesy as that (as cheesy as that sounds)sounds)

Making connections with Making connections with peoplepeople..

Being Being realreal..

Adding value.Adding value.

Creating content Creating content for others to consume.for others to consume.

Building communityBuilding community!!

In essence, it’s communication. In essence, it’s communication. We’re good at that. We’re good at that. We’ve been doing it a really, really long time.We’ve been doing it a really, really long time.

Cost and time

Loss of control

How do we know it’s working?

How does it work?

Why are companies afraid of social media?

But the social media world is too big for business to overlook.

Ignore it at your peril.

800m

300m

Don’t expect a Don’t expect a positive ROIpositive ROI

(Not quickly, and (Not quickly, and maybe not ever)maybe not ever)

ROI = ROI = Risk Risk

of of InactionInaction

MYTH #1: You’ll see ROI quickly. MYTH #1: You’ll see ROI quickly.

#2: Social media will help to make up for a bad product or company

– Negative. It will actually do the opposite.– *coughwalmartcough*

MYTH #3•Social media will lead to overnight sales success

– Not so much. Building relationships takes time.

MYTH #4•Social media is free.

– The tools may be, but building and executing a plan takes lots of time and effort.

THE CARDINAL RULESAKA, Social Media Marketing for Dummies

Be likeableBe likeablea.k.a. The Cocktail Party Effecta.k.a. The Cocktail Party Effect

Be Yourself

Be Human

Example of Being HumanTwitter conversation

Jetblue: There’s a lot of talk going around about corporate rolls in Twitter. Since this IS a conversation… What WOULD you like to see? SarahM: @jetblue, did you mean “corporate roles”?

Jetblue: @SarahM sighh…yes, first role: spelling.

#GettngSlizzerd

#GettngSlizzerd

#GettngSlizzerd

#GettngSlizzerd

Only Leno & Letterman Should Do Monologues

News Travels FAST

Graphic by SocialFlow.com

8,000

6,000

4,000

TPSTPS

Japanese New Year

Packers win Super Bowl

Japanese tsunami

Osama bin Laden killed

Barca over Man U in

Champions League Final

Mavs over Heat, NBA

Finals Gm 6

2011 BET Awards

Japan over US in WWC

final

JAN FEB MAR MAY JUNE JULY AUGUST

Beyonce’s pregnancy 8868 Tweets per Second

Tweets/Second Records(Yes, you should be worried about

America.)

Paraguay over Brazil in

Copa America

Just because you can do it all doesn’t mean you should

Two ears, one mouth.

Use them in that proportion.

Tell great stories.

Referrals > AdvertisementsReferrals > Advertisements

The Cardinal RulesThe Cardinal Rules• Be likeable• Be yourself• Be human• Two-way conversations• News travels superfast• Don’t try to be everything to everyone• Listen twice as much • Be a great storyteller• Referrals are golden

Platforms: Great for more than drilling!

• Building COMMUNITY• Driving traffic to your website (e-commerce or

otherwise) or blog• Standing in for a company website (last resort)

• Not good for:– Products you need infrequently

• Caskets. Divorce lawyers.

– Commodities• Bananas. But of course, Chiquita has a Facebook page.

• Real-time customer communication• Customer service / insight• Damage control

• Not good for:– Restrictive industries – Organizations that require higher-level approval

for all communicationAnd companies who:– Have nothing to say of interest or value– Don’t want to talk to their customers– Plan to talk AT their customer

• Connecting more deeply with your target audience– Share ideas, info, expertise– Build credibility– Attract future customers (and employees!)– Crowdsourcing

• Positioning yourself as a thought leader• SEO

• B2B marketing• Employee recruitment• Industry collaboration

• Demonstrate company culture and show personality

• Demonstrate product uses• Educating customers• Branded entertainment – a.k.a. FUN!

http://www.youtube.com/user/Blendtec

• My favorite: Kenny Powers, K-Swiss CEO

• Reaching customers when they’re near your location

• Understanding customer point-of-purchase behavior

• Best for:– Hospitality industry or retailers– Still a young platform. Remains to be seen…

• SEO: top Google search result is a direct channel to your company– (Well, it will be once G+ Direct Connect is working)

• Companies who:– Treat customers like Siri– Have only one person handling SM– Don’t want to see analytics– Do not offer deals or promotions

How to answer intelligentlyHow to answer intelligently(when it comes to social media, at least)

Blogs and News

• Mashable.com• Likeable.com• SocialMediaExaminer.com• Ad Week Technology

– www.adweek.com/technology/social

• Ad Age Digital– adage.com/channel/digital/

• HuffPost Social– www.huffpost.com/news/social-media/

Who to Follow

• @mashable• @socialfresh• @likeablemedia• @briansolis • Mashable’s Social Media Thinkers List:

– https://twitter.com/mashable/social-media

“So, you’re a new MBA grad… you’ll know all about this.

Should we be doing social media marketing?”

“That depends. What are your goals for social media?”

• Avoid “Bandwagon Syndrome”• Research the industry’s presence on SM

before your interview– Are competitors making it work?