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Similar a Social Media Presented By Ritz Marketing 2.16.11(20)


Social Media Presented By Ritz Marketing 2.16.11

  1. Social Media
  2. What is social media? Why social media? How to implement? Who is doing it right?
  3. so·cial me·di·a Online gathering of interaction, ideas, comments and commentary. Essentially, consumer conversation in cyberspace.
  4. More simply put: “Social media is people having conversations online.”
  5. Introduction Social Influence Marketing (SIM) is about employing social media and social influencers to achieve the marketing and business needs of an organization.
  6. Measuring SIM Business Justification : R.O.I. RETURN ON INVESTMENT
  7. THE R.O.I. EQUATION Investment Expectation of return
  8. Return On Investment Digital Digital Sale W.O.M. Recognition More Sales Action Interaction Return On Interaction + Return On Influence A more realistic way to access value
  9. Now, social media is…
  10. Paid Earned Owned Social Media Brand and Product Internet Advertising (Pages and Feeds) Websites PPC – Search Word of Mouth Mobile Brand and Marketing Product Websites Mobile Advertising User Forums Proprietary Mobile Applications Sponsorships News, PR, Customer Care Announcements Services Blogger Proprietary Paid Applications Relationships Digital Content
  11. Social media is the on going conversation of the planet.”
  12. The conversations are powered by: Photo Blogging Sharing Video Micro Sharing Blogging Key Podcasts Social RSS Platforms Message Widgets Boards Chat Social Rooms Networking
  13. Social Media Tools (just to name a few)
  14. Active Worldwide Users 500,000,000 + Pieces of content shared per month 45,000,000,000 Local business with active Facebook pages 1,500,000
  15. Professional Social Network Contains profiles of Fortune 500 executives and leading entrepreneurs Average individual salary on LinkedIn is $109,000
  16. Wiki =quick Studies show it’s as accurate as Encyclopedia Britannica If you were paid $1 for every article posted on you would earn $1,712.32 PER HOUR
  17. Registered Users 156,000,000 + Updates per month 54,000,000 + Users following a brand 31% Brand recommendations per month 7,800,000 +
  18. Business Objective: Improve customer service Promote a product or service Manage and respond to a crisis Event activation Advocate an issue or cause
  19. Why Social Media?
  20. In 2008, if you are not on a social networking site, you are not on the internet.” Iab platform status report: User generated content, Social media, and advertising – An overview, April 2008
  21. It’s not a fad. It’s a fundamental shift in the way we communicate.
  22. Reason #1 “We don’t have a choice on whether we DO social media, the question is how well we DO it.” Erik Qualman
  23. 500 BILLION. The number of peer influence impressions Americans generate per year via social media.
  24. Today people are connected
  25. 500M
  26. 4 Billion. That’s13x more than the National Library . The number of images hosted on Flickr.
  27. 95% Companies using LinkedIn to find and attract employees.
  28. Welcome to The World of Socialnomics
  29. Reason #2 78% of people trust the recommendations of other consumers. Nielsen “Trust in advertising” report While only 14% of people trust advertisements.
  30. 14% VS. 78% HMM…
  31. The old communication model was a monologue.
  32. The new communication model is a dialogue.
  33. Only18% of TV ad campaigns generate positive ROI.
  34. 90% of people who can skip TV ads, do.
  35. The average person is exposed to 3000 advertising messages/day
  36. Reason #3 Social media is only going to become persuasive and as such, become a critical factor in the success or failure of any business.” Brian Solis, Social Media Manifesto
  37. How many social media users turn to social media when making purchase decisions? By listed product, service category, and frequency Regularly turn to social media Sometimes turn to social media
  38. Tomorrow’s consumers are today’s “digital natives”.
  39. By 2010, Millennials/ Gen Y-ers will outnumber Baby Boomers. They already wield $350 Billion/ year in direct spending power.
  40. Millennials spend >16 hours/week online. 96% of them have joined a social network.
  41. They have an average of 120 online friends. Acquaintances Online Friends 51% 38%
  42. And they don’t care about your Ads. They care what their friends think.
  43. Translation: The train is leaving the station. WITH or WITHOUT YOU.
  44. How do I get on the train
  45. Learn About Your Audience Who/Where are they? What is their personality like? How/Where do they consume? How/Where do they engage?
  46. The Importance of Words Treat this part very seriously. It is a myth that successful communication relies mainly on delivery style. What you say is just as important as how you say it.
  47. Certain words have great psychological impact on us. They address our basic human desires and our emotional needs and wants. They compel us to pay attention and take action. Successful copywriters use certain words to add persuasive power to their ads.
  48. Description Specificity can result from descriptive language. Which dessert would get your attention faster? Something described as “A sinful combination of bourbon-soaked vanilla beans and fresh raspberries With a chocolate ganache surprise”. Somethingdescribed as “ChocolateDessert”. Get your audience salivating
  49. Clarity Avoid vague, nebulous corporate-speak. Nothing puts an audience off more than uncommitted, detached phrases.
  50. Authenticity Much of the language in corporations today is clichéd, vague, and pretentious. When speaking, be concise, clear, and authentic – get to the human side of language.
  51. Call to action If you end with a call to action, make it clear and specific. Your audience should know exactly what they are called to do and have reasons for taking that course of action. Leave the participants with a memorable comment or question that ties directly back to your main point.
  52. Leave Them Wanting More Most messages should end in such away that participants are inclined to crave more information you may share with them later. When appropriate, leave the audience at a climax: promise that in a future message you will provide additional useful information. The human brain seeks closure. Participants will be inclined to return to something that has not been solved completely.
  53. Choose your channels wisely
  54. Use Your Channels To Engage And Drive Traffic
  55. Make Social Media Work for Your Company
  56. Who is doing it RIGHT?
  57. doing it RIGHT
  58. By the end of 2009, Dell had generated $6.5 million in sales from Twitter alone.
  59. doing it RIGHT
  60. On April 8th, 2008, Frank Eliason set up a Twitter account to help Comcast users in need. Since then, Comcast has helped over 150,000 customers through Social Media.
  61. is doing it RIGHT
  62. Starbucks gave their consumers a voice
  63. Resulting in over 50,000 product ideas
  64. 360 Digital Influence
  65. Bust the Myth “Social Media Activities” are only effective for direct to consumer marketing WRONG Social media is very influential and imperative for B2B companies, as well!! 75
  66. People do business with PEOPLE
  67. B2B in Social Media •Humanize your company •Grow your digital footprint •Become a trusted advisor
  68. 93% of social media users believe a company or a brand should have presence on social media 85% believe a company should go further than just having a presence Source : Cone Business Social Media Study 2008
  69. “For companies, resistance to social media is futile. Millions of people are creating content for the social web. Your competitors are already there. Your customers have been there for a long time. If your business isn’t putting itself out there, it ought to be.” Business Week Feb. 19, 2009 79
  71. Financial Advisor “Fergus” Financial Advisors’ Use of Social Media Social media is game-changing…
 it is an intelligence source that allows you to track unobserved, and for free, 
 the movements of people in your network. - Kip Gregory Author of “Winning Clients in a Wired World”
  72. Social Media Use
  73. Despite regulatory impediments, Financial services professionals are using social media to network and gain business.
  74. “Reconnected with old friends who were looking for my type of expertise.” “Referral of a client to another friend who looked me up through Facebook.” “Discussion and referrals for speaking engagements.” “Introduce from one client to a prospect through Facebook.” “Social media has lead to greater awareness about me/my capabilities.” “I feel that any time a client can see what you have done, who you know and what you are doing. They can build a better relationship with you.” Source : Ledermark Social Media Survey March 2010
  76. Meet Rick Bakas 1st Director of Social Media in the wine biz. New Media sherpa, certified sommelier, Adviser/Coach for @BakasMedia, author of Quick Bites.
  77. Rick has 50,330 followers alone on Twitter Routinely has Twitter wine tastings for St. Supery 88
  78. Why does this matter? As a consumer in a wine store, wine labels jump out based on things people recognize.  If someone is shopping and not sure what they want but recognize St. Supery from Twitter, chances are they will buy a wine from that vineyard. 89
  79. Social Wine Stats Some key statistics that we have found: • 700,000 people watch wine related videos each month. •Over 7000 wine tweets/ day •Over 1300 wine bloggers •The wine experience has become portable with over 300 iPhone apps. Although data on aggregate wine sales as a result of  social media activity is limited, significant new behaviors such as #winewednesdays on Twitter, and virtual tastings have had an impact on wine sales, and word of mouth 90
  80. And, YES… There is more to learn every day… Just as your 12-year-old…
  81. A free, secure, social learning platform for teachers, students, parents, schools and districts.
  82. Confused? RECA P
  83. Social Networks • • • • • •Last.FM • • 94
  84. B2B Social Networks • • • • • • • • 95
  85. Video Sites • • • • • 96
  86. Blog Platforms • • • • • 97
  87. QA
  88. References 1. The Razorfish Social Influence Marketing Report 2. Research Micro Blogging Trend During World Cup,Sina.Inc 3. Brands and Social Media, Ogilvyone Worldwide 4. Power to the People – Social Media Tracker Wave 3 5. Social Media in Asia, 360 Digital Influence, Ogilvy Public Relations 6. Digital Actions and Their Effect on Advocacy, Consumer Insights Inc. 7. eMarketer,,LosAngelesTimes,KnowledgeNetworks 8. Social media for business, Slideshare 9. What the f**k is social media, Slideshare 10. Before you open your mouth, Slideshare Thank You