Transcript Power of Social Marketing 2.0
© 2009
Power of Social Marketing 2.0
… Make it Work for Your Business
Greetings!
I am Ira Kaufman, President
Optimized Strategies,
Ph.D. Marketing As a Marketing Strategist, I combine 30 years of rich experiences with businesses and nonprofits to develop the potential of companies and institutions. Marketing is evolving and expanding. It requires an integration of traditional advertising, online marketing, social media and networking to develop competitive advantage. I challenge owners and senior executives to clarify their goals and translate them into a consistent Brand. Then our team develops an Integrated Marketing Strategy that leverages social media and online marketing. Please join me on a journey to discover the
Power of Social Marketing2.0 … Make it Work for Your Business .
Connect with me:
540-563-2249 (office)
Blog Twitter
540-875-8510 (cell)
http://www.attractingtalenthub.com
http://www.linkedin.com/in/optimizedstrategies http://twitter.com/ira9201 http://profile.to/irakaufman
Invite you 25 min Journey
Opening the doorway to
Timely opportunity Roadmap 4Ps of Social Media – Propagation, Power, Planning and Participation Challenge you to take action Build Your Marketing 2.0 Strategy
Social Media Revolution …
If you aren
’
t current, you are vulnerable!
What are your challenges?
How are you using Social Media to build your business, your personal brand?
Social Media Transforms
One out of eight couples married in the U.S. last year met via social media Years to reach 50 million users: radio (38 years); TV (13 years), internet (four years), iPod (three years). Facebook added 100 million users in less than nine months, iPod application downloads reached 1 billion in nine months / 80% of companies are using LinkedIn as their primary tool to find employees Ashton Kutcher and Ellen DeGeneres have more Twitter followers than the entire population of Ireland, Norway and Panama Studies show Wikipedia is more accurate than Encyclopedia Britannica 78% of consumers trust peer recommendations, only 14 % trust advertisements.
Socialnomics:
by Erik Qualman,
•
McKinsey & Co Report
By 2010, traditional TV advertising will be one-third as effective as it was in 1990. It assumes: • • • • 15% decrease in buying power driving by cost-per thousand rate increases / 23 % decline in ads viewed due to switching off 37% decrease in message impact due to saturation Prime-time TV ad spending has increased over last decade by about 40%, as viewers have dropped almost 50%. Paying more for less translates into a much higher cost-per-viewer-reached.
http://www.mediabuyerplanner.com/2006/08/07/mckinsey_tv_selling_power
Old 4Ps Marketing 1.0
Value Creator Customer 4Ps
What is Web 2.0 ?
set of tools that allow people to build social and business connections,share information and collaborate on projects online
includes blogs, video, wikis, social networking sites and other online communities, and virtual worlds Wall Street Journal December 15 2008
Value Builder Company - Employer Partner
Marketing 2.0
User
Product (WEB2.0 Brand) Place (online, offline) Price ($, time, ease)
5Ps
Promotion (Integrated Marketing
)
Participation (Conversations
) Publisher Thought Leaders Job Seeker
#1 P … Propagation
Social media is new phenomenon for business
88% used to market their business 72% have used it for a few mo. or less
Demographic spending 10+hrs weekly
30-39 yrs- 45% 20-29 yrs- 40% 50-59 yrs- 39%
Benefit to business
81% - generated greater exposure 78% - increased search engine rankings 62% - gained new partnerships 50%- generated qualified leads
What is Social Media?
Social media
is a means to generate conversations Stop thinking
campaigns
Start thinking
conversations
Translate
conversations
into
Results
What do these companies have in common?
Absolut Vodka American Express Bank of America Best Buy Big Rock Brewery Carnival Cruise Lines Charles Schwab Dell H&R Block Harley-Davidson Ikea JC Penney Jet Blue Kaiser Permanente KFC Kodak Mayo Clinic McKinsey & Company
Miller Brewing Co NASA National Geographic Oscar Mayer Peace Corps Pizza Hut Rubbermaid SEC Southwest Airlines Starbucks Taco Bell The Home Depot The Wall Street Journal TJ Maxx US Dept State Victoria's Secret Volvo Wal-Mart
Actively using Social Media
Increase sales Build brand loyalty Recuit passive jobseekers Research target markets Introduce products Transform company culture Raise new sources of funds Gain new partnerships Increase attendance at events
Will It Blend !
7.7 MM views, +500% sales
http://www.youtube.com/watch?v=qg1ckCkm8YI
The Power Has Shifted
Any Time Any Place Any Way
Web2.0 Trends Updated 12/07 Jo,SanKuKT
#2 P … POWER
People play at Social Media with vanity Facebook accounts, and tacit LinkedIn accts and doing social Tweets..
Few access its Power
How you access this Power?
Change your Mindset Marketing 1.0 to Marketing 2.0
“Social Trend in which people use technologies to get things that they need from each other, rather from corporations”
Essence of the Future of Marketing
• • • • • It all starts with respect.
Listening is marketing.
Participation is marketing.
Media is marketing.
Conversations are marketing.
• Comments are marketing.
The Social Media Manifesto
Marketing Rules are Changing
It was Pushing message to client One way message Business generated content Interrupt client- direct immediate action Attention economy Hard to measure results Coveting information Charging for entry – block entry
It’s now
Pulling client to the message Interactive conversation User generated content Engage, build relationship Attraction economy Real time metrics Sharing information Giving free ebooks, product
Challenge #1 Read Groundswell
Access the Big Five
YouTube
WordPress-Blogs
Power of
• • More than 300 million active users, 4th most-trafficked website in the world 42 Million US users • Over 55,000 regional, work-related, collegiate, and high school networks • • • • • More than 50% users are outside of college Fastest growing demographic is 35-54 yrs; growing at 276% last 6 mo 50% of users return daily 300,000+ business members If Facebook were a country, it would be the fourth largest after China, India and the U.S.
Statistics gathered directly from Facebook
Professional Resource
• • • • • • • 48 million Professionals globally Avg income $110k Avg age 37 – 52 Entrepreneurs – 31%; Executives – 18% ; Decision Makers – 42% Represents 170 industries 10+ Million unique visitors per month Grew almost 380% from 2007 Data from LinkedIn
is Mainstream
• 40MM users spent 300MM min. in April 09, 3712 % more time than April 08 • 35-49 yrs, largest demographic, 42% members • Users spend 66% more $ on Internet than non-twitter users • Zappos, shoe retailer updates 14,000 followers • COMCAST use it for customer services • Real estate agents are selling Houses • HCA uses for recruiting nurses
Twitter in Action
David Cesarni: Financial Marketing Specialist “to increase the size of your natural market” twitter@dcesarni Chris Lemay: Mortgage Broker Twitter helps me reach my wider audience –forge stronger relationships and keep me top of mind” twitter@chrislemay twitter@Fedupwithfees twitter@savingfeelsgood
Power of YouTube “play for real” TOP 3
Girlfriend- music video Evolution of Music What’s the Altitude 118.2 MM 113.1
72 1.
2.
3.
Nielsen Rating – week ending April 5- 2009
American Idol Dancing With the Stars NCIS FOX ABC CBS 24.4 million 20.5
17.2
WordPress…Blogs Transforms Websites
Businesses are adopting WEB2.0
• Search engine optimization friendly • Interactive • Content managed • Builds relationships • Real time metrics
Marketing 2.0
Lessons Gained
1. It’s not about a cheaper product or your idea; It’s about creating engaging conversations.
It’s not about better coffee – it’s about the place (TWT) It’s not about the hog, it’s about a lifestyle (Blog,YT, FB) )
2. Adjust from storytelling to putting on an online party (FB)
Talk Like Your Audience Converse Don’t Shout Talk to people first, before trying to sell anything
3. Create consistent great content, address questions directly
Whole Foods Twitter followers (405,000); Trader Joes (5,935)
Integrated Social Marketing 2.0 Campaign that made a difference
Powerful Social Media Strategy
Obama has 380% more supporters than McCain Obama: McCain:
2,379,102 supporters 620,359 supporters
Obama has 403% more subscribers than McCain & 905% more
• •
Viewers than McCain “Race” Speech 3.8 MM YouTube 4 MM Cable-3 channels Obama has 380% more supporters than McCain Obama:
Friends: 833,161
McCain:
Friends: 217,811
Obama has 240 times more followers than McCain Obama:
@barackobama has 112,474 followers
McCain:
@JohnMcCain 4,603 followers www.web-strategist.com/blog/2008/11/03/snapshot-of-presidential-candidate-social-networking-stats-nov-2-2008/
Pundits Share Lessons
Understand what social media is … real power lies in the people
Recognize Social Media has changed the way
People gather
Process information
Then make decisions
Conclusion - consumers who visit these websites are more likely to take action with the information that they find
–
to vote, to make purchases, to interact
#3 P… Planning
Does You Need Social Media?
• Do you want to be considered a leader in your industry?
Does your target market use the internet to access information, evaluate products or search for a business?
Are you satisfied with the results of your marketing efforts? Are you thinking of re-inventing your business model in consideration of the new economic realities?
Challenge #2 Develop a Marketing 2.0 Strategy
Social Media … Six Issues
1.
2.
Social media considered more as a risk than an opportunity by those outside marketing.
How do professionals manage the time and people involved in social media efforts?
3. Decision-makers are unsure where or how to start -looking for a plan 4. Insurance uses social media in agent communications as well as B2C splits resources and focus.
5. Seeking ways to measure activity/success 6. Brands are looking for best practices and success stories for building brand /customer service
Building Integrated Marketing 2.0 Strategy
•
Integrated Marketing 2.0 Strategy
• • Leverages traditional, online and social media with business development to generate results
.
Analyzes your product/service; determines the relative power of each medium; and then integrates them to optimize your results.
•
Objectives
•
Listening
(research)- gain valuable input from partners • • • •
Talking
(promotion)- spread the message
Energizing
(sales) engage enthusiastic partners to help “sell“/ “inform”
Supporting
- enable partners to support each other
Embracing
(collaboration)- interact with partners to develop better model
#4 P … Participation
Provide the forum for discussion of social and family issues
Founders Group Insurance uses Blog and Twitter to engage their followers in both cultural and insurance-related topics. http://foundersgrp.wordpress.com/
Educate customers on insurance and allow them to share feedback
Agent Dennis Volz, uses his San Diego Insurance Blog to help customers and prospects understand the world of insurance. http://dennis-insurance.blogspot.com/
Develop communities for targeting customer segments
Irwin Siegel Agency, Inc. Irwin Siegel Agency, Inc. uses social networking to help generate interest with target customer segments. http://www.siegelagency.com/default.htm
Enhance your brand and marketing message
Rick Dinger of Creseda Valley Insurance has used YouTube and Facebook to attract a new audience. http://www.youtube.com/watch?v=BU6JrRrsyk0 . http://cvins.com/
Challenge #3 Use SM to augment your current marketing efforts
http://www.slideshare.net/rickjmiv/social-media-and-insurance-are-you-kidding-1009
Competitive Edge
The next three years will see a refinement of
Integrated Marketing 2.0 Strategies.
Businesses that engage these strategies will increase in their value and realize a powerful competitive edge
.
You are about to change how your company relates to its customers
Challenge #4 If you think and operate with new models, you will realize new results!
Challenge #5 Join SW Social Media Connect