Creating Stratey For Social Media

Creating Social Media Strategy for Business Growth

Overview

• Social Media introduction• Steps to create SMM strategy• Budgeting for social media• Bringing together• Conclusion

What is Social Media? • Social media is media designed to

be disseminated through social interaction, created using highly accessible and scalable publishing techniques.

• An ongoing process that happening Right Now

• A promotional channel for content distribution

• Long term returns on efforts• A steady stream of information - Research - Feedback - Building Relationship

Current Statistics • 8 out of 10 registered people use social

network regularly

• Social media has overtaken emails as the #1 activity on the web

- 17% of all web usage

• There are over 200million blogs - 900000 blog post every day - 39% post opinions about companies, brands

and products

• 93% of social media user believe that their company should have a presence in social media network

Social Media Platforms People on Facebook• More than 500 million active users• 50% of our active users log on to Facebook in any

given day• Average user has 130 friends• People spend over 700 billion minutes per month

on Facebook

Activity on Facebook• There are over 900 million objects that people

interact with (pages, groups, events and community pages)

• Average user is connected to 80 community pages, groups and events

• Average user creates 90 pieces of content each month

• More than 30 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.) shared each month.

Global Reach• More than 70 translations available on the site• About 70% of Facebook users are outside the United States• Over 300,000 users helped translate the site through the translations application

Platform• More than one million developers and entrepreneurs from more than 180 countries• Every month, more than 70% of Facebook users engage with Platform applications• More than 550,000 active applications currently on Facebook Platform• More than one million websites have integrated with Facebook Platform• More than 150 million people engage with Facebook on external websites every month• Two-thirds of comScore’s U.S. Top 100 websites and half of comScore’s Global Top 100 websites have integrated

with Facebook

Mobile• There are more than 200 million active users currently accessing Facebook through their mobile devices.• People that use Facebook on their mobile devices are twice as active on Facebook than non-mobile users.• There are more than 200 mobile operators in 60 countries working to deploy and promote Facebook mobile

products

Facebook

http://www.penn-olson.com/wp-content/uploads/2010/04/twitter-on-paper.jpg

• Twitter has 105779710 register users - it gets 30000 new users every day

•twitter receives 180 million unique visitor a month - 75% of traffic comes from outside of twitter.com

•Twitter now has 175 employees

• 600 million search queries a day

• 37% of users update their status through mobile phones

Twitter

http://www.penn-olson.com/wp-content/uploads/2010/04/twitter-on-paper.jpg

• 2nd largest search engine on the web

• 4th largest site on the web• 13 hours of video uploaded to

YouTube every minute• 9.5 Billion videos streamed online

in April, 2009 – YouTube made up 58%

• Over 1 Billion views per day

Youtube

• Now hosts over 4 Billion images• Provides not only a repository, but

also a rights managed image distribution point for old and new media

• 6,000 photos uploaded every minute

• Easy integration with site for content developers

Flicker

• 22 million WordPress Publishers• 2 Billion monthly page views of

WordPress Blogs• 350,000 Posts made daily• Written for 120 different languages• Ease of use (made for the end user

now being used by the corporations including Ford, Mashable and The Wall Street Journal)

• Acts as your content hub, housing all approved content and syndicating it to your promotional channels

Wordpress

• Top-rated Social Media Tool by Mashable.com

• 20 million emails served daily• Integrates with all of your social

media tools• Used for segmentation and email

marketing

Mashable

• RSS allows for your content to be syndicated through your promotional channels and on sites around the Internet

• It separates content from design making content portable

• WordPress has now made it even easier to syndicate content to other blogs

What is RSS?Really Simple Syndication

RSS- Really Simple Syndication

Your Web site / Content Hub

How is Social Media used?

• Customer service• Product/ service branding,

advertising and feedback• Industry networking• Promotions/ contests• News and company updates• Internal collaboration• Networking with clients and

customers and public at large

Creating social media social media strategy

Steps:

1. Preplanning2. Listen to the conversation3. Create your target profile4. set specific goals5. Join the conversation6. measure ROI

Step -1 Preplanning

Questions from your side:1. How does information flow in my industry?2. Where do people get their information?3. how do consumers interact in my industry?4. Do they hang out in networks?5. What influences my customers?

Step 1 – Preplanning

What channels are you (client) using currently?

Emails Direct mails

News Letter Website, Portal and

Internal Messengers

Step 1 – Preplanning

Asking Questions reminds you who you are and who you want to be

It also indicates how social media can be used to compliment your business goals

-ifPeople 2009

Step 2 – Listen to the Conversation

• Secure your brand on social platforms– Blogs, Twitter, Facebook,

LinkedIn– Usernames are often unique– Try to be consistent

• Set up monitoring platforms– Google Alerts– SocialMention.com– Technorati– Twitter Search– Radian6

• Use special queries– AND, OR, “”

Step 2 – Listen to the Conversation

Keyword categories to identify:•Key industry influencers•Competitors•Industry news sources•Blog comments

Step 3 – Create Your Target Profile

• Target Audience is age 24-50 males– $350 Billion in spending power– 16 to 19 hours online each week– 96% of them have joined social networks

• 78% trust peer recommendations– Only 14% trust advertisements

• Belong to:– Twitter: 31– Facebook: 33– LinkedIn: 39

- Consumer 2.0 & Pew Internet

Step 3 – Create Your Target Profile

• Find key attributes from listening• Chart out their presence in social media• Market Segmentation

– Demographic• Age, Gender, Family Size, Social Class, Income

– Geographic• Region, Population, Climate

– Psychographic• Activities, Interests, Opinions, Attitudes

– Behavioralistic• Brand Loyalty, Benefits Sought, Readiness to

Buy• Continue to gather customer information along the

way

Step 4 – Set Specific Goals

• Brand Awareness/Advocacy• Increase Traffic/Opt-ins• Business Partnerships• Search Engine Results• Generate Leads• Reduce CRM Costs• Increase Revenue

Step 5 – Join the Conversation

Phases of Social Equity

1. Awareness- Low Equity- Value & Fun- Qualify fans and followers

2. Engagement- Medium Equity- Increase long-term

communication

3. Social Commerce- High Equity- Product reviews, exclusive

pricing, product previews, registration

- socialmediatoday.com


Establish an Editorial Calendar

• Choose a specific schedule for days you will be posting

• Helps stay on track and organize content

• Be consistent• Refer to the calendar when

you need content ideas


Be Transparent and Authentic

• Don’t be evasive• Offer your name, title,

organization, experience• Admit your interests in the

topic• Define your credibility• Be consistent across all SM

profiles and platforms


Think conversation, not campaign

• Don’t focus on selling• Ask questions/Respond• Provoke engaging dialogue• Earn a reputation


Be the expert in your industry

• Write about what you know, and offer insights to those who ask for it

• Offer links to resources you find– Those authors might return the

favor• When consumers trust your

content, they’ll trust your products


Have rules of engagement

• Know what to do with negative comments

• Determine who will be involved in responses

• Admit mistakes and thank those who bring it to your attention

• Respond kindly• Turn brand detractors into

advocates

Step 6 – Measure ROI

What is ROI?• Non-financial

– Visitors, WOM, Page Views, Fans, Followers

• Financial – Sales, Revenue, Transactions, Coupons

ROI can not be measured only in $ revenue for a specific period there are lot many intangible advantages


Establish before/after baseline

• What did your online environment look like before social media?

– 5.5% YoY growth (YoY – Year over Year)• What does it look like now?

– 23.5% YoY growth– What caused the increase/decrease?


Develop activity timelines

• Diagram exact dates in which key social media activities occurred

– 8/11 blog started– 8/13 facebook page started– 9/15 FB ad campaign begins– 9/17 FB ad stops– 10/22 product mentioned on analytic website

• Any events that may impact the campaign• Milestones

– 500/1000/10000 fans– First link with 100 clicks


Look at Key Performance Indicators

• Transactions• New Customers• Sales• Revenues• Average Order size• Funnel Goal Completions

Be specific– Frequency, Reach, Yield– How often, How Many, How Much


Overlay all timelines and look for patterns

• SM activities• SM data• Website Metrics• Store Transactions• Loyalty Metrics


Prove relationshipsHow were specific metrics related to social media efforts?

• Facebook Promo• Product Launch• Coupon Offer• Twitter Contest

Budgeting for A Successful Social Media Plan

Wait… isn’t Facebook free?

Determining SM Budget

Allocation vs. Addition

•What are your goals?•How much is your overall marketing budget?•What tactics are you currently using? How are they working?•What are your internal resources?

•- Ignite Social Media Blog 2008

Budgeting for Social Media

• Time• Design & Branding• Analytic Tools• Social Monitoring• Automation applications• Social Media Advertising• Outsourcing/Consulting

Levels of Social Media Engagement

Level I•Placeholders

– Securing a username, setting up fan pages

Level II•Short-term promotion

– Answering questions– finding key influencers in your industry– Writing radicals*– Write microblogs *

Level III•Dedicated Strategic Engagement

– Active profiles on several platforms– Promotions, contests, active content distribution– Making Presentations, Day to day polls and content feed back process *

Determine your level of engagement and budget for time accordingly.

Bringing it Together

Ok… but where do I start?

Tips to get started

• Start with the platforms you can actively maintain

• What outsourcing is needed?– Design, development, content

management , brand monitoring, audience research

• Plan your content flow• Tools which gives you SMM progress

analysis – Ping.fm– HootSuite– Tweetdeck– Sendible

Additional Resources

Books•Engage – Brian Solis

•Trust Agents – Tara Hunt

•Six Pixels of Separation – Mitch Joel

•The New Community Rules - Tamar Weinberg

Online•SocialMediaToday.com•Mashable.com•BrianSolis.com

Documents

Creating Stratey For Social Media