social media: product marketing solutions
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This document introduces our consulting offering "Social Media: Product Marketing Solutions." For more information e-mail [email protected] or call +1.415.728.1257 or visit http://www.digitalsalespro.comTRANSCRIPT
Social Media: Product Marketing Solutions
Shankar Saikia
March 20, 2010
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Topics
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Product Marketing Goals
Social Media: Explanation & Benefits
Social Media Product Marketing Solutions
Return on Investment (ROI)
Recommendations
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What Makes Social Media Different
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Content: Community creates
Conversation: 2-way
Audience: Digital (online + mobile)
Distribution: Viral
Viral Distribution
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HOW TO MAKE VIRAL?1. Web-based2. Web customers3. Free4. Built-in virality (easy
to spread)5. Network effects(Adapted from: “Viral
Loop” by Adam Penenberg)
Source: Wired magazine
Viral Distribution
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YOU
YOUR FOLLOWERS
YOUR FOLLOWERS’FOLLOWERS
Examples of Social Media
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Blog Microblog Social Network
Professional NetworkVideo
Benefits for Product Marketing:Blog
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Connect directly to customers
Communicate in authentic voice
Enhance credibility
Blogs enable easy viewing of contentRESULT: more viewers
Blogs facilitate expression of genuineness RESULT: more viewers
Useful content increases trustworthinessRESULT: more viewers
Corporate Blog Example
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http://googleblog.blogspot.com/
Benefits For Product Marketing: Twitter
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Distribute content
Receive & Send instantly
Receive & Send advice
Twitter enables viral distributionRESULT: more viewers
Twitter communicates in real-timeRESULT: faster distribution
Twitter enables sending linksRESULT: increased credibility leads to more followers
Corporate Twitter Account Example
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http://twitter.com/google/
Benefits For Product Marketing: Facebook
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Build audience
Update instantly
Get feedback
Facebook enables centralized content sharing RESULT: one-stop shop for updates
Facebookcommunicates in real-timeRESULT: faster content distribution
Facebook’scentralized contentRESULT: quick responses leads to better reputation
Corporate Facebook Fan Page Example
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http://www.facebook.com/Google#!/Google
Benefits For Product Marketing: Youtube
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Entertain
Educate
Youtube enables visual contentRESULT: more viewers
Youtube how-tocontent provides valuable infoRESULT: more viewers
Corporate Youtube Channel Example
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http://www.youtube.com/user/Google
Benefits For Product Marketing: LinkedIn
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Professional image
Learn best practices
Recruit
LinkedIn profile enhances reputationRESULT: more credibility
LinkedIn groups enable content sharingRESULT: improve productivity
LinkedIn company profile enhances reputationRESULT: improve human capital
Corporate LinkedIn Group Example
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http://bit.ly/dzTlwR
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Product Marketing Business Processes: Examples
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Generate Sales Leads
Analyze Competition
Respond to Request For Competitor ‘s Product
Educate Customer
Inform Prospects
Gather Product Requirements
Research Market Requirements
Example Business Process 1: Generate Sales Leads
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Research search &
social media
Identify locations
Identify audience
Market to
location
Market to
audience
TOOLS USED:1. Google Insight2. Twitter Search3. Blog Search
Example Business Process 2: Educate Customers
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Setup product
blogs
Setup Twitter account
Invite Customer To Twitter
Distribute blog
updates on Twitter
Measure Customer Response
TOOLS USED:1. Wordpress2. Twitter3. Facebook (optional)4. Youtube (optional)
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Sample ROI
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Process = Educate Customers
Benefits:-Engage more customers-Build closer relationships
How to Calculate ROI:-Calculate revenue from existing customers before implementing process-Calculate revenue from existing customers after implementing process-Divide incremental income by cost of establishing process
Example:Revenue Increase = $2 million (assuming 0.2% for $1 billion product line)Incremental Income = $200,000 (assuming 10% net margin)Cost of process implementation = $20,000
Incremental Income / Cost = 1000% !!
ROI Measurement: Blog Metrics
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1. LOCATION2. TIME3. CONTENT VIEWED4. VIEWER
DEMOGRAPHICS5. SOURCE OF CONTENT
ROI Measurement: Twitter Metrics
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1. FOLLOWER COUNT2. FOLLOW
ANALYZE TWEETSwww.twittercounter.com
ROI Measurement: Facebook Metrics
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Facebook Insights 1. INTERACTIONS2. INTERACTIONS PER
POST3. POST QUALITY4. STREAM CTR/ETR5. DISCUSSION POSTS6. REVIEWS7. MENTIONS
ROI Measurement: Youtube Metrics
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1. SOURCES OF VIEWERS2. TIMELINE3. DEMOGRAPHICS
ROI Measurement: LinkedIn Metrics
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Contacts Network Statistics
1. DEMOGRAPHICS2. INDUSTRIES
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Next Steps
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1.Designate internal social media champion
2.Get 1 or 2 people trained on social media basics (1-day)
3.Evaluate 1 business process to enable on social media
4.Engage consultant to implement social media for 1 business process (1 to 2 months)
Summary
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• Focus on business process improvements
• Social media provides new communication channels
• Product marketing can benefit from social media
• ROI tools exist to evaluate social media effectiveness
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