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Elaboration and discussion of:
The Social Media Bible: Tactics, Tools and Strategies For Business Success by Lon Safko
Social Media for Business
DeAnna SloneBUS413
April 20, 2013
Discussion Points
DeAnna SloneBUS413
April 20, 2013
Social Media Defined
References
New Paradigm: Word of Mouth at the Speed of Light
ROI of Social Media
15 Categories of Social Media
Statistics of Social Media
Five Key Steps to Social Media Success
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• DefinitionSocial: Instinctual human needs to connect
-Need to be around and included in groupsMedia: Something that enables the connection
-Today, represented by technological tools
• Social Media is the ToolMulti-purpose relationship builder
- Marketing- Customer service- Corporate message no longer
controlled• Consumers value product opinion from social
friends above what the business say
Social Media Defined
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Social Media Categories (15)
Real-time technological tools are available at everyone’s fingertips. Opinions and
infromation is distributed in a blink of an eye. The authors and audience are extremely diverse: public and even internal (employees). A business should be a part of every category.
Friends, Family
Busines to Business
Business to Consumer
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April 20, 2013 4
Word of mouth at the speed of light
New Paradigm:
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• One bad comment to millions in less than a second
Requires businesses to actively monitorMitigation should follow same path• Business: adopt a real-time philosophy24/7 proactive staff around the world
Three most popular
Social Media Statistics
Users 500m 10.4m 1BUnique Visitors/mo 39m 12m 167mAge
35-44 22.50% 27% 24%25-34 24% 29% 18%
Avg Time Spent 36 min 77 min 12 minIncome
< 25k 15% 8% 10%25-49k 42% 40% 32%50-75k 10% 10% 12%
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Success and Opportunity Examples
Return on Investment (ROI)
Search Engine Marketing (SEM) via Google AdWords
Matches demographics on all users and positions related advertising to user profile
Organic changes on the fly to manage effectiveness in real-time
Statistics and measurements provided hourly the day after
Google maintains integrity to their customers to mitigate fraud
Know your target audience, set goals, and proactively measure
Use Google Analytics to proactively measure and adjust AdWords Strategy
Google AdWords
Top sales and web site records in 38-year
history using Twitter Committed resources to the potential Management buy-in required 48-hour fare sales on Twittter only (twice
in 3 months) Measurement and reporting essential –
especially for predicting what could happen
Success Factor: Organizational Change
Southwest Airlines
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Five Key Steps to Social Media Success
Total is greater than that of the sum of the parts
Analyze your existing media
Must be a part of the
social media trinity
Integrate strategies
Proactively resource
Implement and measure and measure
again
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n.a. (December 2012). Job Stock. Blog by Job Stock on Social Media – Graphic by Quicksprout. http://www.jobstock.com/blog/social-media-statistics-2013/
Safko, L. (2010), “The Social Media Bible,” 2nd Edition. Wiley Publishing.
References
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