Are you interested in Social Media ROI or Social Media Best Practices? Then check out this deck from Jamie Turner,co-Author of "How to Make Money with Social Media."
These slides contain plenty of statistics and data on social media and how to use social media.
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How to Grow Your Buiness with Social Media
1. How to Grow Your
Business with Social Media
Jamie Turner
Co-author, How to Make Money with Social Media and Go Mobile
Chief Content Officer, the 60 Second Marketer
2.
3. Introductions
• Co-author of How to
Make Money with Social
Media and Go Mobile
• Regular guest on CNN
and HLN on the topic of
social media and mobile
marketing
• Consults with small, As Seen On
medium and large
corporations
5. Agenda
Agenda Item Time Allotment
• How Consumers Make 55 minutes
Buying Decisions
• How to Use Social Media 55 minutes
to Connect with
Customers
• New Tips and Techniques 55 minutes
in Mobile Marketing
• Applause 3 hours
8. 60 Second Social Media Snapshot
• Rate yourself on
Strategic
a scale for part
time vs. full time
• Rate yourself on
a scale for
tactical vs.
Part Time
strategic
Full Time
Tactical
9. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on
a scale of 1 to 10
for tactical vs.
strategic
10. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 1
a scale of 1 to 10
for tactical vs.
strategic
11. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 1
a scale of 1 to 10
for tactical vs.
strategic
2
12. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 1
a scale of 1 to 10
for tactical vs.
strategic
3 2
13. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 4 1
a scale of 1 to 10
for tactical vs.
strategic
3 2
16. How People Make Buying Decisions
• A 30¢ pack of gum takes
30 seconds
• A $300 TV set takes 3
days
• A $30,000 car takes 30
days
• A $300,000 house takes
3 months
17. How People Make Buying Decisions
• 70% of consumers make purchase decisions based
on input from people they know
• 40% will use information from experts or other
consumers
• Only 5% trust marketers
21. Why People Don’t Buy Products
• I don’t need what you’re
selling
• I don’t have the money
• I don’t have the time to
investigate this right now
• I don’t trust you
26. Social Media Business Models
Branding: Use social media as a branding tool to build awareness and
connect with customers
27. Social Media Business Models
E-Commerce: Drive prospects to an e-commerce landing page and convert
those prospects to customers
28. Social Media Business Models
Research: Use social media as a research tool to generate customer input
and feedback
29. Social Media Business Models
Customer Retention: Use social media as a customer retention tool to reduce
churn
30. Social Media Business Models
Lead Generation: Drive leads to a website and re-market to those leads,
ultimately converting them to customers
E-Newsletter YouTube Channel
Email Marketing
Forums Speeches
You
Live Events
Twitter
eBooks Virtual Events
Mobile Apps Blog Postings
Webinars
55. ROI: Customer Retention
It costs 3 to 5 times as much to
get a new customer as it does
to retain an existing customer.
By keeping customers engaged,
involved and active with your
brand, you’ll be preventing them
from changing their loyalty.
60SecondMarketer.com -> Videos -> Branding
58. Calculating Customer Lifetime Value
The revenue generated by a customer
during his or her lifetime with your brand.
CLV for Scott’s Lawn Care:
$80 per month x 12 months x 3.0 years
CLV = $2,880
Allowable Cost Per Sale:
$2,880 x 10% = $288
59. Calculating Customer Lifetime Value
Scott’s Direct Mail:
200 pieces x 0.5% = 1 new customer
$1.44 per piece x 200 = $288
Allowable Cost Per Sale = $288
1 customer for every $288 spent
Scott’s Annual Direct Mail Spend:
$2.8 million = 2 million pieces x 0.5% =
10,000 new customers per year
60. Calculating Customer Lifetime Value
Testing Direct Mail vs. Social Media
$2.8 million x 10% = $280,000 to test a social media
campaign
Social media campaign costs:
Labor: $140,000
Production: $100,000
Miscellaneous: $ 40,000
Total: $ 280,000
Social media success:
$280,000 spent in direct mail = 1,000 new customers
$280,000 spent in social media = ?