Social Media: The Power To Move Business Forward

ERIN GERALD
AFFILIATES

Social Media: The Power to Move Business Forward
Wilson Toussaint Jr., President & CEO
April 20, 2011
Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute.

Contents
ERIN GERALD

•  History
•  Market Shifts and Trends
•  Harnessing Social Media for Business
•  Q&A

Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 2

What is Social Media?
ERIN GERALD

A group of Internet-based applications that build on the
ideological and technological foundations of Web 2.0, which
allows the creation and exchange of user-generated content.1

Source: Wikipedia


What is Social Media?
ERIN GERALD

Web applications and tools that allow people to
create and share content
Social Networking Blogging Micro-Blogging

Photo/Video/Music B2B Social Location-Based
Sharing Networking Social Networking


Why Should I Care About Social Media?
ERIN GERALD

Social Media Revolution Video
http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/
Used with permission from Erik Qualman.


ERIN GERALD

•  You need to be where your customers are, and they are on Social Media
–  662,000,000 users on Facebook and counting2…
–  200,000,000 users on Twitter and counting3…
–  200,000,000 blogs and counting4…
–  100,000,000 users on LinkedIn and counting5…
–  2 billion video views/week on YouTube and counting6…

•  Your competitors do
–  70% of small businesses use Facebook7
–  250,000 businesses using Foursquare to reach its 8,000,000 users8
–  2,000,000 businesses on Linked In & 73% of the Fortune 100 use it for recruiting9

•  Your customers/prospects are talking about your company/brand in Social Media
–  70,000,000 blogs discussing products & brands10
–  25% of Twitter’s users follow a brand on Twitter11
•  67% more likely to buy from that brand!12
•  79% more likely to recommend that brand!13
–  40% of Facebook’s users follow a brand on Facebook14
•  51% more likely to buy from that brand!15
•  60% more likely to recommend that brand!16


ERIN GERALD

•  Traditional advertising models are being turned on
their heads
–  78% of people trust peer recommendations17
–  14% of people trust company advertisements18
–  Shifting focus toward getting recommendations vs.
broadcasting product attributes/benefits
•  It’s sheer size and reach can spread a negative
message about your company/brand very quickly


ERIN GERALD

•  It’s where your customers are!
•  Your competition is there too!
•  Customers/prospects are talking about you there!
•  It’s more powerful than traditional marketing!
•  Bad news travels at warp speed there!
… and so does Good news!


Contents
ERIN GERALD

•  History
•  Q&A


Social Media is Ramping Faster Than
Anything… Ever! ERIN GERALD

•  Facebook added 200MM users in < 1 year!19
•  Apple’s App Store reached 1 billion downloads, 8
months after launch!20
•  Groupon is on pace to reach $1 billion in revenue
faster than any company… ever!21
•  Executives from all 2010 Fortune 500 companies
belong to LinkedIn22

•  Is your business leading or lagging behind your competition in
its use of Social Media?
•  Do you even know?

And Mobile is Right Behind It!
ERIN GERALD

•  Smartphones + Tablets outsold PCs + Laptops in 201023
•  In < 2yrs, Gartner predicts Smartphones will exceed the entire
installed base of PCs with 1.82 billion units worldwide24
•  Mobile users are 2x as active as Desktop users on Facebook25
•  In < 2yrs, Gartner predicts that smartphones will overtake PCs as
the dominant web access device worldwide26
•  Shoppers purchased $2Billion in goods from eBay via mobile
devices in 2010 and this figure is estimated to double to $4Billion
in 2011!27

•  Do you have a mobile strategy?
•  Does your mobile strategy account for this rapid growth?
•  Do you have mobile versions of your business websites?

Contents
ERIN GERALD

•  History
•  Q&A


Social Media Pays Great Dividends
ERIN GERALD

Engaging Customers in Social Media Can Drive
Substantial Business Value

é Revenue ê Cost é Loyalty*
Higher Community- Strong brand
converting based product loyalty & less
referral support customer
business churn

* According to Bain & Company, a 5% increase in customer retention can increase a
company’s profitability by 75%!28


4 Key Steps to Harnessing Social Media
to Grow Your Business ERIN GERALD

4 1
Web/
Business
Mobile
Goals
Presence

Social Social
Media Media
Presence Strategy
3 2


Step 1: Goals – Start with the End in Mind
ERIN GERALD

Focus Considerations

Social Media Team Cross-functional, empowered team
True Social Media “Believers”
Objectives/Metrics Desired outcome?
What does success look like?
Audience Who are you trying to reach?
What’s their demographic makeup?

4 1
Web/
Business
Mobile
Goals
Presence

Social Social
Media Media
Presence Strategy
3 2


Step 2: Strategy – Framing the Gameplan
ERIN GERALD


Location Where is your audience & how do they use
SM?
Relationship What’s your relationship w/ this audience?

Roadmap How will you reach your goal?

Tools: http://forrester.com/empowered/tool_consumer.html
4 1 - Social Technographics Profile tool: Provides insights on
B2B & B2C audience use of Social Media (free)
Web/
Business
Mobile
Goals
Presence

Social Social
Media Media
Presence Strategy
3 2


Step 3: Build Your Social Media Presence
ERIN GERALD


Location Establishing/optimizing “hub and spoke” system.

Content Optimizing content sources, mix, schedule.

Traction Tracking progress toward goals & adjusting
execution.

Tools: http://www.tweetdeck.com/ - 1 tool to update Twitter,
Facebook, LinkedIn, Foursquare, etc. (free)
4 1 Tools: http://bit.ly/ - Track click-throughs & referral sources (free)
Web/
Business
Mobile Mass Media Sites Dominant Niche Sites
Goals
Presence

Social Social
Media Media
Presence Strategy
3 2


Step 4: Build Your Web Presence
ERIN GERALD


Web User Experience: Fast, intuitive, and engaging.

Mobile User Experience: Above + mobile website!

Hub User Experience: “frictionless” learning, buying,
and community features.

Tools: http://www.wibiya.com/ - “Social” toolbar offering
4 1 Facebook, Twitter, YouTube integration w/ your website;
Web/ No coding required. (free)
Business
Mobile
Goals
Presence

Social Social
Media Media
Presence Strategy
3 2


Social Media Drives Business Results
ERIN GERALD
Helps you realize your business strategy in a number of ways, including:
Generating qualified sales leads by:
•  Helping prospective customers find you, through use of targeted
keywords and search engine optimization (SEO) techniques
•  Clearly communicating your unique value proposition to prospective
customers through your social media profiles and website
Increasing sales conversions by:
•  Positioning you as the trusted, subject matter expert in your field
•  Establishing/cultivating trust-based relationships with prospective
customers & business partners
•  Getting high-conversion referrals from the above
Reducing operating costs by:
•  Building an engaged customer community that your customers can turn
to for solutions to common product issues – reducing calls to your
customer service & technical support teams
Building customer loyalty by:
•  Engaging in conversations with customers in social media
•  Making them “feel heard”
•  Promptly incorporating their feedback into product or service
enhancements (free market research!!)


Contents
ERIN GERALD

•  History
•  Q&A


Erin Gerald Affiliates: Our Services
ERIN GERALD
TECHNOLOGY-ENABLED BUSINESS SOLUTIONS

User Experience Web Mobile
Social Media Design Development Development
o  Strategy o  Usage Context o  eCommerce o  iOS & Android
o  Implementation o  UI Structure o  eBusiness o  Smartphones

o  Training o  Visual Design o  Rich Media o  Tablets

o  Support o  Content Strategy o  Content o  Native Apps

o  Maintenance o  Sound Design Management o  Mobile Websites


And Now For Our Raffle!
ERIN GERALD

“It’s obvious that Erik Qualman’s passion is social media.”
- Dan Heath, New York Times bestselling coauthor of Made to Stick and Switch
“People are hot for social media… Erik Qualman says it’s about listening first, then selling.”
- Forbes
“Erik Qualman has been doing his homework on the social media phenomenon.”
- The Huffington Post
“This is a must-read for anyone trying to leverage the social graph rather than be squashed by it.”
- Steve Kaufer, CEO, TripAdvisor


Thank You!
ERIN GERALD

If you enjoyed this presentation, please Tweet about it
using hashtag “#EGA2011”!

How To Reach Me Twitter: @wtoussaint
Email: wtoussaint@eringerald.com
Phone: 877.700.4EGA x302
Web: www.eringerald.com

Wilson Toussaint Jr. is a Certified Social Media Strategist and a Senior Executive
with over 20 years of management consulting and industry experience leading
technology-based product development initiatives, many of which have produced 8
and 9-figure annual revenue streams. As a Senior IT Executive for a $1B Global
Education Company, he led the implementation of a next-generation Internet-based
test delivery platform that has generated over $980 million in revenue in its first 5
years of operation – an effort that won CIO Magazine’s Bold 100 Award in 2005.
He is President and CEO of Erin Gerald Affiliates, a Technology and Social Media
Consulting Firm that helps clients increase sales by using Social Media and the
web to stimulate demand and convert prospective customers.


The Social Media Landscape is Broad and Dynamic…
ERIN GERALD
WWW.THECONVERSATIONPRISM.COM by Brian Solis & Jesse Thomas

Included under the Creative Commons Attribution License. See link for usage details: http://creativecommons.org/licenses/by-nc/3.0/

… So, focus on your business objective first, then identify the
best tool/platform to achieve that objective.

Resources
ERIN GERALD

To Keep Up With Social Media Trends/News, I Recommend:
Web Twitter
www.mashable.com - arguably the top social media & emerging web @mashable
technology news/info site. A great resource for news, trends, and @mashbusiness
analysis on these topics. 40 million pages views/month. @mashsocialmedia
@mashablemobile
www.techcrunch.com - excellent resource for news, trends, and @techcrunch
analysis on web and mobile technologies, startups, and products. 35
million page views/month.
www.socialmediaexaminer.com - great source for social media @smexaminer
analysis, research reports, and news – all focused on helping
business use social media to increase sales and brand/company
awareness.
www.social-media.alltop.com - aggregates content from hundreds of @Alltop_Social
sources and presents the latest news on social media (as well as
1,000 other topic areas).

Resources, continued.
ERIN GERALD

•  Good Books on Social Media:
Title/Author Cover
Socialnomics: How Social Media Transforms The Way We
Live and Do Business, by Erik Qualman

A great introduction to Social Media concepts, trends, case studies,
and guidelines for effectively using social media to grow your
business.
The Executive’s Guide to Enterprise Social Media Strategy:
How Social Networks Are Radically Transforming Your
Business, by David B. Thomas, Mike Barlow

A solid guide outlining the market-facing and intra-company benefits
of social media, from increasing revenue and brand loyalty to
breaking down internal corporate silos and raising internal
productivity/efficiency.

References
ERIN GERALD

1.  Source: Wikipedia http://en.wikipedia.org/wiki/Social_media
2.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends Presentation, Slide
12 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-2011
3.  Source: Wikipedia http://en.wikipedia.org/wiki/Twitter
4.  Source: Erik Qualman, 5/2010 Social Media Revolution Video,
5.  Source: LinkedIn http://press.linkedin.com/about/
6.  Source: YouTube http://www.youtube.com/t/press_statistics

7.  Source: Merchant Circle http://blog.merchantcircle.com/2011/02/q1-2011-merchant-circle-mci-survey.html
8.  Source: FourSquare https://foursquare.com/about

11.  Source: Digital Surgeons http://www.digitalsurgeons.com/facebook-vs-twitter-infographic/
12.  Source: Chadwick Martin Bailey and iModerate Research Technologies
http://www.imoderate.com/main/newsID/50/do/press_release_Detail

14.  Source: Digital Surgeons http://www.digitalsurgeons.com/facebook-vs-twitter-infographic/


References
ERIN GERALD

20.  Source: Wikipedia http://en.wikipedia.org/wiki/Apple_App_Store
21.  Source: Wikipedia http://en.wikipedia.org/wiki/Groupon
23.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends
Presentation, Slide 7 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-2011
24.  Source: Gartner
http://www.fiercemobilecontent.com/story/gartner-forecasts-mobile-web-access-will-surpass-pcs-2013/2010-01-13
26.  Source: Gartner
http://www.fiercemobilecontent.com/story/gartner-forecasts-mobile-web-access-will-surpass-pcs-2013/2010-01-13
28.  Source: Bain & Company http://www.bain.com/bainweb/Consulting_Expertise/capabilities_detail.asp?capID=102


Social Media: The Power To Move Business Forward

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