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Social Media for businesses

The recipe for online success

WHAT IS SOCIAL MEDIA?The new generation online experience

“Social Media is an umbrella term that defines the various activities that integrate technology, social interaction, and the construction of words, pictures, videos and audio.”Wikipedia.org

What is Social Media?

• Customer behaviour online is constantly changing with technology & increased user knowledge. Social Media is the driver for that change.

What is Social Media?

The breakdown of Social Media

The breakdown of Social Media

The breakdown of Social Media

The breakdown of Social Media

The breakdown of Social Media

DOES SOCIAL MEDIA WORK?The justification

• 250 million active users on Facebook

• 200 million blogs online

• 100 million videos on YouTube

• 4 million articles on Wikipedia

• 1.5 million residents on 2nd Life

Does Social Media work?

• 55% of people have uploaded photos/images

• Only 18% of TV ad campaigns generate positive ROI

• 34% of people post opinions of brands on their blog

*Source What the f**k is Social Media? (Martha Kagan, 2009)

Does Social Media work?

Users are adopting Social Media at a fast rate:

“Social media traffic as surpassed pornography traffic”Click: What millions of people are doing and why it matters (Bill Tancer, September 2nd 2008)

“Advertising spend was $2.1billion (£1.3billion) in 2008”Social networking and Marketing: Adspend & usage (eMarketer 2008)

“The Telegraph pulls in 75,000 visitors a day from Social Media”Using Social Media for marketing and monetisation (E-consultancy, 2009)

“For the first time in 23 years, Pepsi will not have any ads in the Super Bowl. Instead, the company will be spending $20 million on a social media campaign”

Pepsi to Skip Super Bowl Ads in Favour of $20M Social Media Campaign (Mashable, 2009)

“To keep up with the leaders in industries 10% of online spend, man hours and number of staff should be spent from your business on Social media.”

Enough of the Social Media BS (Martha Kagan, 2009)

Does Social Media work?

Debenhams has even trialling in-store Twitter assistants for the new season:

Does Social Media work?

ASOS started a dedicated community for their customers which included:

• Twitter feed• Blog• Forums

Does Social Media work?

HOW CAN SOCIAL MEDIA WORK FOR YOU?

Implementing social media strategy

• Increase visibility and brand equity

• Leverage on your market positioning

• Corporate reputation control

• Improve customer loyalty by using the appropriate tone of voice

• Monitor customer behaviour

• Let customers engage with you

• Viral marketing

How can Social Media work for you?

TOP TIPS IN SOCIAL MEDIAEngaging customers with Social Media

• Ensure quality as well as quantity

“A tweet to your followers is valuable. A retweet from a follower is exponential”

• Invest in Social media

Don’t select as many social media platforms as you can find just because it appears free. Select the correct ones appropriate to your target audience and engage your consumers.

Social Media Marketing isn’t free – you need to invest to make it work!

Top engagement tips in Social Media

• Ensure you select the right approach and medium for your business

Communicate on a level that fits the needs of your consumers. Maximise your time and investment and ultimately performance by investing your time and money into the right areas.

• Listen, react and participate

“The foundation and core of what social media is, consists of the five C’s. Conversation, community, commenting, collaboration and contribution.”Mike Fruchter

• Measure your activity

Social media is like any other marketing/PR activity. It can be measured, it’s just a case of how and why.

Top engagement tips in Social Media

HOW DO YOU MEASURE SOCIAL MEDIA?

Your return on investment

• Establish your baseline

Find out what activity has no impact on revenue, then work out transactional precursors.

• Measure touch points

Work out your impact points to help identify overall engagement.

How do you measure Social Media?

• Use composite information

Measure against other marketing activity – e.g. Social media vs SEO

How do you measure Social Media?

SOCIAL MEDIA TAKE-AWAYYour return on investment

“If you’re not communicating and engaging with consumers via social media, you are potentially losing up to 25% of extra revenue”

Social Media Take-away

• Any questions?

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The Yolk The recipe to online successwww.theyolk.co.uk

Thank you from The Yolk