More Than Just Friends
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How to monetize social networks.
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More Than Just Friends
- 1. © SpiderWeb Connections More than Friends: How to Monetize Open Social Networks
- 2. AUTHOR: Susan Schauer John Susan is the media marketing creator of Spider Web Connections.
- 3. © SpiderWeb Connections To Monetize Social Networks: Marketers need to invite their followers to be more than just “friends”.
- 4. © SpiderWeb Connections Research shows: • Customers want to be more than just a “generic” friend of a company or brand. • Open social networks like Facebook and Twitter are where consumers expect to interact with individuals – their friends, colleagues, acquaintances and professional networks. • Any benefits they receive from ‘friending’ companies in social networks are considered ancillary. • In addition, consumer want direct connections with companies and with other customers.
- 6. © SpiderWeb Connections What does the customer want from companies? Customers prefer to have separate “customer communities” that are: • Run separately from open social networks – but have strong links to them so they can easily share information. • Proactively managed by companies. • Tightly integrated with the companies website.
- 7. © SpiderWeb Connections Why don’t consumers seek relationships with companies through open social networks? It is about and .
- 10. © SpiderWeb Connections Once Introduced to a product or service: • 81.1% of people say they would next visit the companies’ website. • 25.7% would visit a retail store. • Only 19% would look at it’s Facebook page.
- 11. © SpiderWeb Connections Context and Content Customers want branded customer communities to provide: Relevant, Trusted information at every stage in their buying cycle. The context of the buying cycle is not happening in traditional social networks. Instead, it’s happening on the broader internet – Primarily on manufacturer and retailer websites through organic search.
- 13. © SpiderWeb Connections Research conducted by the Incyte Group: www.incytegroup.com
- 14. © SpiderWeb Connections Research conducted by the Incyte Group: www.incytegroup.com ©spiderwebconnections
- 15. © SpiderWeb Connections Research conducted by the Incyte Group: www.incytegroup.com
- 16. © SpiderWeb Connections Chart #5 How Consumers Prefer to be Introduced to Branded Consumer Communities and Impact on Participation Rates: Research conducted by the Incyte Group: www.incytegroup.com
- 17. © SpiderWeb Connections The Point: The surprise is not that consumers expect to find information about products and services on a company website. What is important to know is that consumers prefer branded customer communities over social networks when they are seeking information to make a purchase decision or accessing service and customer support.
- 18. © SpiderWeb Connections In other words: • Consumers don’t want brand relationships to be part of their open social networks; instead • They want company Websites to be more like their experiences on opens social networks.
- 19. © SpiderWeb Connections Therefore: Step 1: Create a branded customer community. Step 2: Make sure this community offers: - strong link to social networks - content that is indexed by all search engines - support based on consumer needs - technical flexibility Step 3: Leverage your community to turn your best customers into advocates.
- 21. Word of mouth marketing from a companies best customers is the biggest untapped marketing opportunity out there.
- 22. © SpiderWeb Connections References: • Incyte: To Monetize Open Social Networks, Invite Customers to be More Than Just “Friends”. A white paper about the new form of marketing for business. – More on study: www.getsatisfaction.com – Research conducted by the Incyte Group: www.incytegroup.com • Jay Baer and Amber Naslund have written a terrific book called: The Now Revolution. It captures completely the new face of marketing for businesses. http://www.convinceandconvert.com/ • Tom Fishburne, “The Marketoonist” : http://tomfishburne.com/ • There are a number of great social media newsletters available for free that I read regularly and highly recommend. Each has contributed to my education and writings. They include: – http://www.socialmediaexaminer.com/ – http://maximizesocialmedia.com/ – http://www.toprankblog.com/ – http://www.bizsugar.com/ – https://www.facebook.com/business/build
- 23. Anonymous.com They will never be gone!!