2. 3 Primary Ways for Small Businesses to Generate Customers/Clients Foot traffic Location, location, location Word of Mouth/References Customers talking to each other about your business Advertising Pay $$$ to put information about your business in front of customers’ eyeballs Flynn Enterprises
4. Achieving Maximum Impact Small-Business Advertising: Common Tactics Television Advertisements Pro: Extremely wide audience, visually dynamic Con: Prohibitively expensive, costly & difficult to produce Radio Advertisements Pro: Wide audience Con: Prohibitively expensive, listeners increasingly turning to .mp3s, satellite radio, or simply changing the channel Newspaper Advertisements Pro: Wide audience, consistently present on page Con: Expensive, limited space, static – no way to ensure your specific ad is seen.
5. Achieving Maximum Impact Small-Business Advertising: Common Tactics Word of Mouth Pro: Strongest form of business promotion; most likely to draw in new and repeat business, FREE Con: Difficult/impossible for businesses to manage, control and control
13. Social/Online Media Facebook Key Facts and Figures (Source) Facebook has more than 400 million users worldwide 120 Million U.S. Users 800,000 Chicagoans are active on Facebook 1 in 4 Chicagoans! 55.7% Female, 42.2% Male Breakdown by Age Group i) 18-24 = 40.8% Ii) 24-34 = 26.7% Iii) 35-54 = 16.6% 66.3% of Facebook users are 21+
22. Social/Online Media Facebook Where FE can help If you aren’t on Facebook, get on it! Regular reports detailing new account highlights, breakdown, trends, etc. Daily content generation and management Example: The Fainting Goat December 15, 2009 (work begins) – 172 Fans April 30, 2010 (4 months) -298 Fans +72.3% organic increase in fans +1,200% organic increase in pageviews +423% organic increase in interactions with fans
26. Social/Online Media Facebook: Advertising Micro-targeted Ads Target people by age, sex, geographic location Target by stated interests and group memberships Pay only for actual clicks on your ad Set a daily budget – spend as much or as little as you want each day
30. Social/Online Media Twitter Key Facts and Figures 12th most popular website in the world 50 million Tweets per day and growing
31. Social/Online Media Twitter Key Facts and Figures Demographics (Source) 19% of online adults ages 18-24 have used Twitter or something like it 20% of online adults age 25-34 have used Twitter or something like it 10% of online adults age 35-44 have used Twitter or something like it 53% Female, 47% Male
32. Social/Online Media Twitter Key Facts and Figures Income Level of Users (Source) $0-$30K Household Income = 21% $30-$60K Household Income = 28% $60-$100K Household Income= 24% $100K+ Household Income = 27% Miscellaneous 35% of Twitter users live in urban areas 76% of Twitter users use the internet wirelessly (e.g., phones, mobile, etc.)
34. Twitter: Applications for Small Businesses Get your businesses’ name involved in relevant conversations Social/Online Media
35. Interact with the public, Capitalize on Current Events Social/Online Media
36. Interact with the public, Capitalize on Current Events Twitter: The Perfect Vehicle for Word-of-Mouth Recommendations Social/Online Media
37. Social/Online Media Twitter Where FE can help If you aren’t on Twitter, get on it! Regular reports detailing new account highlights, breakdown, trends, etc. Daily content generation and management Example: @FaintingGoatPub December 15, 2009 (work begins) – 16 followers April 15, 2010 (4 months) - 270 followers +1,687% increase in followers Increased direct messages by more than +600% Multiple daily @replies and retweets Promotion with @DenverHappyHour for 3,000th follower
39. Review Sites Key Facts and Figures – Yelp.com More than31 million people access Yelp! each month (^ "yelp.com (rank 88) - Web Site Audience Profiles from Quantcast". Quantcast. 2008-07. Retrieved 2008-08-19.) Breakdown: All Yelp! Reviews: A business that is active and responsive on Yelp is statistically more likely to gather positive reviews Social/Online Media
40. Social/Online Media Review Sites Where FE can help If you aren’t listed, get listed! Monthly reports detailing new review highlights, breakdown, trends, etc. Daily updates/alerts of new reviews and changes to rating site systems “Yelp Makes Big Changes in Effort to End Extortion Claims” – Mashable.com April 6, 2010 Provide strategic recommendations on wisdom of advertising on review sites, becoming official sponsors, etc.
42. Social/Online Media Blogs Two Primary Uses: As a marketing venue As an identifier/value-add for customers and clients
43. Social/Online Media Blogs as Marketing Venues Self-selected audience Readers and commenters on blogs have volunteered important information about themselves and where they spend their time online i.e., People reading a White Sox blog More likely to live in Chicago South Siders (Much) more likely to respond to sports themed specials More likely to appreciate niche marketing i.e., People reading a political blog More likely to serve as campaign volunteers More likely to respond to fundraising requests More likely to write a letter to the editor
45. Social/Online Media Blogs as Value Added Become a source of trusted and important information for your customers/clients i.e., Sports Bar Write weekly blog posts/Facebook notes outlining what sporting events are happening each night of the week, along with what corresponding special the bar is running i.e., Vintage Clothing Store Weekly blog posts/Facebook notes about interesting items that were brought in in the past week, along with some context and history concerning what would make this item an interesting purchase
46. Social/Online Media Blogs Where FE can help Which blogs attract your target customers/clients? Could your business benefit from a blog? Could your customers? Blog concept + design work Content generation and management Conceptualize, write and update blog posts Reporting and analysis of the blog landscape, constant updates on what can be advantageous to your business, and how
