Social Networking:Making the Most of Web 2.0

Bill Tyson CEO, Strategic Marketing Plus, LLC

http://www.thesavvystrategist.com

Web 2.0: The 5th P of Marketing

2

• Always on, 24 by 7 • 3 Drivers:– People’s desire to connect– New and improved interactive technologies– Online economics

• Great tool to amplify messages and campaigns.• A few revenue models are emerging: Ad $s are

shifting from Google and Yahoo to Facebook.

Types of Social Media

3

• Blogging• RSS Feeds• Podcasting• Texting• E-Cards• Photos (flickr.com)• Videos

(youtube.com)• Publishing

• Social Networking– LinkedIn– Facebook– Twitter–Google Plus– You Tube– Skype–High5–MySpace

There are 7 Categories of Social Media….

4

But 4 Networking Sites Stand Out along with

Part 1: Industry Overview

The Power of A Link*• Social capital - “a sociological concept used to refer to

connections within and between social networks.” • “Swiss Army Knife” - like features:

– Advanced Search – because of the accuracy of profile information (if you lie about anything your peers, colleagues will out you), it is more powerful than Google search.

– Groups – these community-of-interest-networks go beyond discussions and job postings enabling relationship building around common interests.

– Information Sharing – through the use of “social objects” – newsworthy items, not authored by you, that you can share rapidly with those you know will find it relevant.

– Paying it forward – meaning the collective interest everyone in LinkedIn has to make useful introductions for member in their network.

– Mapping your network – for the first time in history, you can actually map

most of your network. See http://inmaps.linkedinlabs.com.* The Power in a Link: Open Doors, Close Deals, and Change the Way You Do Business Using LinkedIn, by David Gowel, John Wiley & Sons Hoboken, NJ 2011

Why Blog?

• From 2009 to 2011 the percentage of businesses with a blog grew from 48% to 65%.

• Eighty-five percent of businesses rated their company blogs as “useful,” “important” or “critical.”

• The average budget spent on company blogs and social media increased from 9% in 2009 to 17% in 2011.

Source: http://www.forbes.com/sites/kenmakovsky/2012/05/14/why-should-companies-blog/

My Experience As a Blogger

• Demonstrate Subject Matter Expertise– Enhancing visibility– Building credibility and trust– Establishing industry expertise

• Thought Leadership around challenges and important issues

• Resourceful: Sharing valuable research • Generating leads … and business!

How Social Media Applies to Insurance

13

• Humanizes the company• Another communication channel – The 5th P = Participation• Amplification of marketing/PR• Customer feedback – the good, the bad and the ugly• Immediate indication and feedback on new products and campaigns• Self-promotion• Defend your company (or brand) against critics• There is a recognition in the industry that Social networking is here

to stay!

Questions?