Growing Your Business with Social Media
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Growing Your Business with Social Media: How You can use Social Media as a Tool for Effective Word of Mouth Marketing July 15 th 2010 Presented by: Richard Sharp and Amberlie Denny
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Transcript of Growing Your Business with Social Media
Growing Your Business with Social Media: How You can use Social Media as a Tool for Effective Word of Mouth Marketing
July 15th 2010Presented by:
Richard Sharp and Amberlie Denny
5 Things you want to know about this presentation:
1. The presentation will be 45 minutes including Q & A2. You can send your questions to us via your
GoToWebinar controls at any time during the presentation
3. We will answer timely, topic-specific questions during the presentation and save the rest for the Q & A period
4. We answer all the questions we don’t have time for during the presentation in a blog post later in the day
5. We will send out a link to the recording and a .pdf of the presentation slides after the presentation
What isWord of Mouth Marketing
Word of Mouth Marketing (WOMM)
involves the passing of informationabout a product or
service from person to person
From K!T on Flickr
From Intersection Consulting on Flickr
WOMM pioneer, George Silverman found in a study that two users having a good experience with a product could sway an entire group of skeptics.
Emanuel Rosen (The Anatomy of Buzz Revisited, Doubleday
2009) found that: learning from user experiences can actually reduce risk and uncertainty associated with adopting a new product or service
WOMM is personal, that means reviews communicated this way are timely and tailored to a specific audience
Where did WOMM Start?
• During the last century mass media grew in popularity
• TV and advertisements got attention and trust!
• BUT… overtime due to the sheer quantity of ads, they and their popular mediums
(i.e. TV) lost credibility
• Nielsen’s 2009 Global Trust in Advertising Survey found that:
– Peer recommendations are the most trusted form of advertisements
– Social media is expanding consumer’s positive and negative influences regarding brands
– Only 62% of people trust TV ads but 90% of people trust consumer recommendations
How has the Internet Changed WOMM
The internet has allowed conversations to spread around the globe and be heard by millions in minutes
Technology is shifting power away from the editors, publishers, the establishment, the media elite. Now it’s the people who are taking control.”
Rupert Murdoch, Owner of News Corp
“
Why do People have Conversations?
1. They love you.
2. They hate you.
3. They were asked their advice.4. Their community (online or
offline) is talking about you.
Image by Kris Hoet on Flickr
How can Social Media Help with WOMM
Social Media is low cost and has a low barrier to entry so it is available to a large number of people
Social media allows a large group of people to communicate their opinions about your product (good or bad)
Social Media facilitates WOMM on a much larger scale
Brands can now have direct conversations with a large portion of their target audience and drive meaningful relationships
How do you choosewhich socialmedia to use
You need to choose which social media tools
you use based on your target audience.
Don’t jump in just because the tool is popular!
Image by cszar on Flickr
Blogging – “A blog is a personal diary. A daily pulpit. A collaborative space. A political soapbox. A breaking news outlet. A collection of links. Your own private thoughts. Memos to the world.”
www.blogger.com
142 million The number of blogs on the internet as of July 12th
2010 Blogpulse.com
Image by Antigone78 on Flickr
Twitter – A social networking and microblogging service that allows you to send short messages (140 characters in length), otherwise known as “tweets” to your followers.
Image by Travelin’ Librarian on Flickr
50 millionThe number of tweets sent a day. That’s a 1,400 % increase in 2009.
Thenextweb.com
10 + Billion The number of tweets sent since 2006.
mashable.com
Image by TPorter2006 on Flickr
Facebook – a social networking website that allows users to add people as friends, send them messages, and update profiles to notify members about themselves.
Image by smlions12 on Flickr
500 MillionFacebook users worldwide.
techherald
5 Billion Pieces of content (web links, news stories, blog posts, notes, photos etc.) shared each week.
Digital Buzz Blog
Image by www.larrabetzutik.org on Flickr
LinkedIn – A professional social network that allows you to connect with contacts, exchange knowledge, and network with a broad system of industry professionals.
Image by Nan Palmero on Flickr
Digg.com – A social bookmarking site that allows users to discover and share content from anywhere on the web.
Image by Pulguita on Flickr
YouTube - A video-sharing website where users can share, upload and view videos on many different subjects and topics.
Image by jonsson on Flickr
2 Billion The number of videos
viewed daily on YouTube.
Mashable.com
Flickr - An image hosting and video hosting website that allows members of its online community to upload and share their content.
Image by Darwin Bell on Flickr
3,600,000,000The number of photos archived on Flickr.com as of June 2009.
Espresso (www.brandinfiltration.com)
Image by Capt Kodak on Flickr
Creating a Strategy for social media and WOMM
Find people who will talk about your product or service: • Bloggers• Fans• Customers• Influencers
Determine your social
media voice
Now give those people a reason to talk about you, like great content
Allocate the appropriate
resources
Make sure you’re in the right
place and then join the conversation
Create a
schedule , and stick to it!
Incorporate your social media with the rest of
your marketing initiatives
Image by Mishelle Lane on Flickr
So you know what to do…
But how do you know if it’s working?
You need to measure key metrics to drive improvement.
What should you be measuring?
Volume of derivative
content created
Intimacy -Brand
Sentiment
Involvement –Interactions
with your syndicated
content
Buzz - Amount of discussion about your company
Influence –Brand affinity, quality of web
presence
Forrester Research, Marketing’s New K ey Metric: Engagement , 2007
Free Social Media Monitoring Tools:
• Boardtracker.com - www.boardtracker.com
• Co.mments - http://co.mments.com
• Google Alerts - www.google.com/alerts
• CoTweet - http://cotweet.com
• Hootsuite – http://hootsuite.com
• Social Mention - www.socialmention.com
Image by S.Diddy on Flickr
6 Things you should take away from this presentation:
1. Social media is a tool for WOMM
2. WOMM is the most effective form of marketing3. The Internet and social media help facilitate WOMM on a
larger scale4. People will talk about you because they love you and because
they hate you.
5. It is important to know where you audience isinteracting with social media before you get started
6. You need to measure customer engagement metrics to understand the ROI of social media.
Richard Sharp, VP Marketing
604.484.8543
Amberlie Denny, Marketing Coordinator
604.630.3712
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Follow us on Twitter @Marqui_CMS
