5 Distinctions to Guide your Social Media Efforts
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Closing presentation for IIAC 2013 Social Media Conference, Toronto Board of Trade, May 16, 2013. By Jay Palter.
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5 Distinctions to Guide your Social Media Efforts
- 1. 5 key distinctions to guide your social media efforts 16 May 2013 Toronto Board of Trade
- 2. 5 key distinctions • Tactics vs. Strategy • Paid vs. Owned vs. Earned Media • Creating vs. Curating Content • Personal vs. Professional Brand • Giving vs. Getting
- 3. Social media without a strategy is like having a map and compass but no destination.
- 5. People don’t buy what you do, they buy why you do it. ~ Simon Sinek Why How What
- 6. 5 key distinctions • Tactics vs. Strategy • Paid vs. Owned vs. Earned Media • Creating vs. Curating Content • Personal vs. Professional Brand • Giving vs. Getting
- 7. Paid vs. Owned vs. Earned
- 8. The influence economy Currency Assets “Earned media” Goodwill = = = Networked people and content Transactions Social capital
- 10. The long tail • Content drives traffic • Traffic accumulates over time • Head equals long tail 3 days 3 years
- 11. 5 key distinctions • Tactics vs. Strategy • Paid vs. Owned vs. Earned Media • Creating vs. Curating Content • Personal vs. Professional Brand • Giving vs. Getting
- 12. We are all publishers • We have new competitors –!the financial media are competing with us for the attention of our market. • We must adapt our marketing – mass media strategies produce diminishing returns. • We must become creators and curators of GREAT content.
- 13. Samples of great content marketing in financial services Amex OPEN Forum Sun Life’s Brighter Life
- 14. • Discover, add context and share • Be a reporter • Create signal among the noise in a crowded information landscape Curate remarkable content to build your brand
- 15. 5 key distinctions • Tactics vs. Strategy • Paid vs. Owned vs. Earned Media • Creating vs. Curating Content • Personal vs. Professional Brand • Giving vs. Getting
- 16. Build personal brands Personal is professional. Relationships are grounded in personality.
- 17. Personal brand is what people say about you when you leave the room. – Jeff Bezos, Founder, Amazon.com In other words, what you tell people about your brand matters less than what they tell each other.
- 18. 5 key distinctions • Tactics vs. Strategy • Paid vs. Owned vs. Earned Media • Creating vs. Curating Content • Personal vs. Professional Brand • Giving vs. Getting
- 19. Not everything that counts can be counted and not everything that can be counted counts.
- 20. Social media ROI • Must take a long-term view • Measure returns in terms of reputation, brand, retention, share of wallet AND new business • Focus on what you’re GIVING to social, not only what you’re GETTING out of it
- 21. The 5 key distinctions... • Tactics vs. Strategy • Paid vs. Owned vs. Earned Media • Creation vs. Curation Content • Personal vs. Professional Brand • Giving vs. Getting
- 22. ...are tied to 5 key take-aways • Develop your strategy • Build social capital • Create and curate remarkable content • Weave personality into your brand • Focus on giving, not just getting
- 23. People do business with people they know, like and trust.
- 24. jay@palter.ca 780-868-8433 Copyright 2013 Jay Palter. All rights reserved. Not for reproduction or distribution without written consent. JayPalter.ca twitter.com/jaypalter www.linkedin.com/in/jaypalter