Social Media Opportunities

International Marketing Secretariat

International Trade and Investment Attraction Division

Ministry of Jobs, Tourism and Innovation

Agenda

Introductions

Overview of Digital Strategy

What Does this Mean for Your Business Objectives?

Terminology

Social Media: Considered new media and communication that is creating a world conversation online with dialogue.

Social Marketing: Injects humanity into the delivery and reception of business communications by emphasizing relationships and meaningful experiences with people rather than simple transactions.

Professional Business Social Identity: Fusing business networking with the relationship-building power of social networking.

Open Source Platforms: Free websites where the sharing of technological information, engagement and growth of content communities takes place.

Why have a Digital Strategy?

Launching a digital strategy will, at a minimum, increase brand profile, enhance digital presence and advance B2B matches and connections and take advantage of digital opportunities.

IBM Canada believes social savvy businesses are already outperforming their competitors by adopting social networking technologies.

93% of marketers use social media for business (Socioeconomics).

Software company Genius.com reports 24% of social media leads convert to sales opportunities.

“Social Media is not about technology, Social Media is about People”

STRATEGY 1: Building brand reputation, awareness and professional business social identity

Protect, expand and strengthen brand by proactively engaging and listening to online conversations of customers and clients.

2010 Wave 5 Report “The Socialisation of Brands” surveyed 40,000 businesses in 58 countries and found almost half of the respondents were accessing brand communities on social networks.

What does it look like?• Live chats, podcasts, webinars, facebook, blogging, and micro-blogging (tweeting) from the experts in trade and investment• Website, micro-sites, landing pages with high search equity and traffic

“90% of consumers trust peer recommendations, only 14% trust ads” “34% of Bloggers post opinions about products & brands”

STRATEGY 2: Mobile Access

Mobile technologies are increasingly part of how businesses reach customers and clients in rural and urban areas and domestic and international marketplaces.

In 2010, Forbes reported 45 per cent of senior corporate executives believe a smartphone or web-enabled tablet will be their primary device for business-related use within 3 years.

What does it look like?• Customized business APPS supporting missions, events and trade shows• Adoption of APPS by TID to facilitate B2B social networking

“In 10 years, over 40% of the Fortune 500 will no longer be here”“Over 50% of the Population is under 30 years old”

STRATEGY 3: Effectively engaging business online

Using open-source platforms to listen , engage in transparent interaction across social channels, build trusted in-house expertise online, and develop real-time responsiveness.

London-based social marketing agency FreshNetworks claims 40 percent of businesses around the world have successfully leveraged social platforms for new business development.

What does it look like?• B2B and B2C • Listening and adapting targeted outreach to business communities online in blogs, wikis, and LinkedIn company pages where they are doing business • Integration with business software (e.g. Salesforce)• Business social forums and business engagement platforms

“The ROI of Social Media is Your Business will Still Exist in 5 Years”

STRATEGY 4: Open Government and Transparency

Activities and platforms to facilitate data-sharing, self-service and interactive communications tools. These activities solicit feedback and help TID meet businesses expectations on engagement and transparency.

Citizens @ the Centre: B.C. Government 2.0 is driving transformation and a new technology strategy for Government

What does it look like?• Open information driving thought leadership in B.C.• B.C. Government 2.0• Provision of market and business data across the open web• White papers, strategy documents, business information for clients

What Does this Mean for Your Business Objectives?

Why Do B2B Companies Need Online Communities? Support – A self-service support community with knowledge base articles, product-based support forums and training resources decreases support costs and increases customer educationCustomer Loyalty – Online communities correlate strongly with brand loyalty. A study by the Wall Street Journal found customers were 50 per cent more likely to renew their subscription to a product or service when they were a part of a corresponding online communityCollaboration – Online communities create a space for all stakeholders – customers, employees, partners, and suppliers – to communicate with one another. In such a space, innovation and advancement can happen dailyGaining Insights – Conversations and feedback in online communities can be distributed across departments to better equip groups like support, product development, account management and marketing

Get Recognized and Be an Influencer - Share Market Information

Promote BC Company Talent to Large Crowds

Reach Beyond a Mission or Trade Show – Where are you and ITIA Services?

Questions?