Social Media for Business – Beyond the Shiny New Toy

Index

• Media Sector

• Social Media Sector

• Sales and Marketing

• Social Business

A walk through media history….

Printing PressJohannes Guttenberg, circa 1450

TelephoneAlexander Graham Bell, circa 1876

RadioHeinrich Hertz, circa 1887

TVJohn Baird, circa 1926

Telephone Fax MachineXerox, 1964

Personal ComputerOlivetti, 1965

Handheld Mobile PhoneMartin Cooper, Motorola, 1973

The Internet Internet Society formed 1992;Federal Networking Council (FNC) Resolution Defined “Internet”, October 1995

The Social Media Revolution

AOL Chat Rooms 1990s

Friendster2002

MySpace2003

Facebook2004

Twitter2006

Instagram2010

Pinterest2010

Snapchat2011

Need to distinguish between content and its distribution medium

Content Type Distribution Medium

Video Old New

Audio

Written

The gatekeepers have been removed from the media value chain

Challenge now is for attention not distribution

Index

• Media Sector

• Social Media Sector

• Sales and Marketing

• Social Business

The social media platforms

Network Global Users Australian Users1 Market Cap Comments

1.4bn 13.8m $234bn Social check in

288m 2.8m $31bn Cocktail party

300m 4.0m $35bn2 Creative

76m 0.4m $11bn Aspirational

100-200m 1.1m $19bn4 Personal

350m 3.3m $33bn Professional

1bn+ 13.5m $40bn5 Entertain or educate

1. http://www.socialmedianews.com.au/social-media-statistics-australia-february-2015/2. http://www.theverge.com/2014/12/19/7420981/instagram-valued-at-35-billion3. http://recode.net/2015/03/22/capital-gains-pinterest-crosses-the-10-billion-mark/4. http://www.bloomberg.com/news/articles/2015-02-17/snapchat-said-to-seek-up-to-19-billion-value-in-funding-round5. http://www.adweek.com/news/technology/youtube-may-be-worth-40-billion-more-twitter-1598616. Note Pinterest and Snapchat don’t openly disclose user numbers

Consumer attention has moved to digital platforms

Social media networks are valuable platforms…

…but always remember who owns the property

Social media is NOT another broadcast channel

Don’t treat social like TV, radio or print

Social media is a two way conversation

The greatest value for businesses on social comes from listening not talking

Psychologist or social media marketer?

Respect the different purpose and psychologies of each social network

Think of social media as the modern day telephone

How do you use the telephone within your business?

Index

• Media Sector

• Social Media Sector

• Sales and Marketing

• Social Business

Social media can certainly help with sales & marketing

People buy from those that they “know, like and trust”

The social web rewards those that give first

Be useful; avoid the hard sell

“The difference between selling and helping is just two letters…”

“Give, Give, Give…Ask”

B2C v B2B – Difference at tactical not strategic level

Social Media Strategy• Listen – where are your customers active?• What is your primary business objective for using social?• What key measures will define success? (ROI)• Understand your audience demographics• How will you execute?

B2B Execution• Typically based around customer education and

thought leadership• Deeper and longer term layers of interaction

Building “authority” Right content at right time Blogging Industry specific communities LinkedIn Groups and Slideshare Podcasts

Some B2B Marketing Stats

• Forrester Research analysis shows up to 90% of a buyer’s path to purchase is completed before a salesperson comes into the picture

• Forester research study on B2B technology buyers showed they use social media twice as much as US adults overall

• 86% of B2B marketers are using content marketing 1

• The top five social networks used by B2B marketers to distribute content are LinkedIn (83%), Twitter (80%), Facebook (80%), YouTube (61%) and Google+ (39%) 2

• 40% of B2B buyers say LinkedIn is important when researching technologies and services to purchase; 19% say the same for Twitter2

• B2B marketers who use Twitter generate twice as many leads as those who don’t2

• 45% of B2B marketers have gained a customer through LinkedIn2

• 71% of B2B marketers use content marketing to generate leads3

• Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads4

• LinkedIn study: 90% of survey SMEs said social media was effective in building awareness

1. Content Marketing Institute2. Social Media Today3. MarketingProfs4. Hubspot

Index

• Media Sector

• Social Media Sector

• Sales and Marketing

• Social Business

Social impacts end to end business

• Brand building –top of funnel awareness• Lead nurture• Sales – precise demographic targeting, personalisation capability• Customer retention• Customer service• Media monitoring/social listening – market intelligence, business insights• PR – outbound communication• Crisis management – protect your brand• R&D/Product development – listening and testing• HR – attracting and retaining employees• Internal collaboration and knowledge management

Aim of the game is not to be “good at social” but drive business value and assist business decision making

End to end marketing funnel

Customer Experience

Some real life examples of social business value

• Red Cross (USA) Digital command centre for humanitarian relief Tracks keywords for early warning of disasters (e.g. tornado) Connects citizens to digital volunteers to provide info Communication mechanism during disasters (e.g. location of trucks)

• T-Mobile Customer retention targeting (social data integrated with CRM) Listening led to insight re customers dislike for long term contracts (and

removal by T-Mobile) “make sure every customer touch is part of an integrated experience”

• KLM Royal Dutch Airlines Processes 30-35,000 messages per week on social (FB and Twitter) Heat maps and analytics to track issues by country Customer service engagement tool (inc ability to book upgrades) Report lost and found items

Value created by integrating social into business processes

Some real life examples of social business value

Hilton Hotels: info service

Jet Blue: customer service

McDonalds Canada: ask any question about any product

IBM: employee advocacy

Telstra: largest Yammer community in APAC; average customer service response time on Twitter 45 mins

"This is not about having 100 likes on Facebook. It is about the business value, the value to our customers from doing this."Amanda Gome, head of digital and social media at ANZ

Any Questions?

More About EchoJunction

Social media strategy and social media technology implementationWeb and newsletter sign up: www.echojunction.com.auBlog: www.echojunction.com.au/blogPodcast: www.echojunction.com.au/podcastLinkedIn Page – EchoJunctionAdam on Twitter: @adamf2014Adam Fraser on LinkedIn