Download - Social media and challenges
Top social networks for business
Facebook – Highest advertising revenue of all social media sites; ideal for FMCG, lifestyle, apparel and luxury brands to build presence and advertise on
Twitter – Favourite rant corner for most consumers; micro blogging feature takes away the pressure to be compelling or grammatically correct
LinkedIn – Must for serious businesses and companies looking to mine data, manage knowledge or be ‘thought leaders’
Blog – Still in flavour for serious or lengthier communication; great for SEO
Facts and Figures
36% of all social media users have posted about a brand or product at some point of time
61% of all social media users are willing to give feedback about brands on social networks
42% of social media users have had at least one direct conversation with a brand on social networks
85% of users were never contacted by a company or brand despite posting a negative review about it
82% of these people stopped doing business with the brand in question as a result
Social media for business functions
Marketing – The most obvious and common use of social media in business. Works because almost every brand has a section of target audience online today
HR – Great for identifying and engaging with talent directly. Also enables companies to showcase employee benefits and culture to outside world
Creative – Sharing enables art, copy and design teams to get new ideas, learn new things and experiment
Operations / Strategy – Sites like LinkedIn help in connecting with domain experts who can share valuable strategic insights
Business Development – B2B companies can use professional networking sites to connect with prospective clients
Social media for leadership
Visibility – in the industry, among peers and team members
Reputation – Use of social media builds a CxO reputation as a progressive, fearless and confident leader
Approachability – For clients and team members, a CxO active on social media is a sign of an approachable and transparent company
Thought leadership – Needless to say, being active on social media will mean a lot of strong content, and that will recognise the CxO as a thought leader
Good for business – A leader who is seen positively on social media will help the business through his personal brand
Social media and ROI – how?
Only 19% of all marketers using social media are able to calculate ROI
Important to differentiate between ROI and metrics
10000 hits to a website is a metric, not an ROI
Increase in customer satisfaction by 15 points is also not ROI
ROI = (Benefits – Cost x 100) /Cost
Measuring ROI
Increased traffic —more people reading your blog, more hits on your website, more Facebook likes and Twitter followers
Google Analytics (tracks keywords, incoming links, sites, etc.)
WordPress dashboard
Tweet Meme (retweets)
More relationships –meeting and doing business with new professionals
Overall better brand awareness (having fans, followers, re-tweets, readers, viewers builds your brand)
FaceBook Analytics
Measures:Total page Likes, or a number of fans, daily active users, new Likes/Unlikes, Like sources, demographics, page views and unique page views, tab views, external referrers, and media consumption
Social media and ROI – examples
Positive Dell - $6.5 M in sales via Twitter
Old spice – Increase in sales by 107%
Jet Airways – Huge PR resulting into customer loyalty and repeat sales
Sea World San Antonio – 5800% ROI (using the ROI formula on prev page)
Social media and ROI – examples
Negative Dominos ‘dirty food’- Sales down by 30%
Gap logo change – Sales went down in two weeks
United Airlines ‘breaks guitars’ – $1.6 M losses in ticket sales
Why is social media so important for businesses?
It finds you customers and builds clientele
It gives businesses the ability to find out what people are saying about them (and others) in their industries
It introduces your brand
It gives you feedback about your brand
It provides a test audience (vs. focus groups)
Solidifies your reputation as a valuable and knowledgeable resource
Incorporating Social Media Into Your Marketing Strategy
Parts of a Social Media Strategy
Identify Your Target Market
• Who are your customers?
• What characteristics do they have?
• What age group do they come from?
• What are their spending or shopping habits?
• Do they shop online?
• What social media applications are they using?
Parts of Social Media strategy
Create a Profile or Brand
• As you create your online profiles, think about your screen name
• Website Domain Name – http://www.dsm.org
• Twitter – http://twitter.com/dsm
• Facebook – http://facebook.com/pages/dsm.org
• Delicious – http://delicious.com/dsm
• E-mail – [email protected]
Parts of Social Media strategy
Decide on appropriate social media applications
• Which ones are your customers using?
• Start with one - Understand it, utilize it effectively and then expand your online presence
• Write good and appropriate content
• Build relationships; listen and engage with your followers
Parts of Social Media strategy
Plan the time frame
• Map out a schedule for updating content
• This should be accomplished on a regular basis
• Follow the schedule
Parts of Social Media strategy
Include Search Engine Optimization (SEO)
• Focus on Good Phrases
• Avoid “Vanity” keywords
• Use Google’s AdWords Keyword Tool
• Remember the value of repetition
• Guide your content strategy
Parts of Social Media strategy
Develop a content strategy plan
• Content should be both useful and usable by customers
• Develop a plan for creating this type of content
• Develop a plan for getting the content published
• Not as easy as it sounds
• Publishing or uploading content takes a dedicate effort on your part
Parts of Social Media strategy
Measure progress toward goals
• Did we learn something about our customers that we didn’t know before?
• Did our customers learn something about us?
• Were we able to engage our customers in new conversations?
Role of Social Media in Emergency Management
Natural Disasters
Earthquakes, Floods, Storms, Tsunami, Forest Fires
Man-made disasters
Riots, Social Uprisings
Medical Emergency
Need for Blood, Organ Transplant
Social media and emergency management (EM)
“Social Media not part of the most of the organizations’ emergency plan”
Red Cross survey of adults 18% turn to social media after calling emergency helpline
74% expect requests for help via social media to be answered within an hour
Failures in communication and information sharing
Agencies and organizations must leverage social media for EM.
Haiti Earthquake, Jan.2010 – US Government Response
Use of Wikis and web collaboration tools
Information portal to support relief
Comprehensive, common, neutral platform
Open
Interconnected and collaborative
“Never before experienced”
(Bedford & Faust, 2010)
Other Examples
San Diego wildfires (2007)
Blogs, Twitter, Facebook, Flickr, Google Maps mashups
City of San Francisco, CA – Tornados
Alerts via Facebook, Twitter, YouTube, SMS
Cooperation with other cities
Earthquakes and floods in China
Forums, Twitter-like tools
Social Revolutions/Uprisings
The recent events in Tunisia and Egypt demonstrated the power of social media as a force for democracy and a tool for political change. It has been dubbed a non-violent ‘social media’ revolution.
In the Iranian elections, the opposition parties used Twitter, Facebook and YouTube to communicate, stage rallies, and publish information about their protests.
ISIS militants uprising in Iraq & Syria and effect among youth through social media.
Benefits
Facilitate sharing and translation of knowledge
Broad access
Conversational, discussion-based style
Near real-time, two-way medium
“Social networking sites … might be the answer to getting the big picture”