Social Media

Social Media Defined

• Any web-based and mobile technology that turns communication into interactive dialogue.

• User generated content*

• “2012 is the year of content!” -Director of Social Media for Adobe Maria Poveromo 

General Info

• Kietzmann et al. (2011) present a honeycomb framework that defines how social media services focus on some or all of seven functional building blocks • Identity• Conversations*• Sharing• Presence• Relationships• Reputation• Groups

Social Media Etiquette

• Speak With a Human Voice• Personalize It• Keep It Professional• Mind Your Manners• Listen And Respond• Know Your Audience• Offer Real Value• Act Impeccably• Don’t React Emotionally• Be Preemptive

http://www.business2community.com/social-media/what-is-proper-b2c-social-media-etiquette-053261

Stats

• Facebook tops Google for weekly traffic in the U.S

• As of June 2011 Facebook has 750 Million users.

• YouTube is the 2nd largest search engine in the world.

• In four minutes and 26 seconds 100+ hours of video will be uploaded to YouTube.

• Video

http://techcrunch.com/2011/06/23/facebook-750-million-users// http://www.socialnomics.net/category/statistics/

Pros

• You can reach customers that traditional marketing misses. (Traditional media makes assumptions about targets)

• You can learn more about your target audience, not only by their comments but also by studying visitor analytics.

• Build brand awareness and loyalty.

• Build relationships.

• You can get insights by reading posts and comments. It can help with market research.

• Social media marketing is cost-efficient in comparison with other marketing methods, even if you hire a dedicated team or outsource your social media content needs.

Cons

• Time consuming. Content must be created, edited, approved and published; comments must be responded to and sites and pages must be maintained.

• You lose some control of your marketing efforts. Anything you publish is up for grabs, and others can easily criticize you.

• Your return on investment is delayed.

• No room for error

“Bashtag”

Slip-ups

B2B and B2C

Use social media in similar ways

• B2B prominently use blogs and LinkedIn• B2C prominently uses Facebook• Both used for lead generation • B2B offer resources and knowledge and try and build

relationships• B2C offers more knowledge, engagement and entertainment• B2B doesn’t advertise on social media sites the way B2C

companies do

Common B2B Failures

• Ignoring the Social Media Reach of Your Business• Not Trying To Generate Leads• Thinking Social Media Will Replace Offline Marketing• Not Taking the Time to Measure B2B Social Media ROI• Blabbering About Boring Products• Hiring the Same Old Marketer• Failing to Understand the Nuances Between Social Networks• Not Budgeting Enough Time to Be Successful• Forgetting That Search Is the Glue That Holds B2B Social

Media Strategies Together

http://blog.hubspot.com/blog/tabid/6307/bid/30858/9-Common-and-Costly-B2B-Social-Media-Marketing-Mistakes.aspx

Good B2B examples

American Express OpenSince 2007, AMEX OPEN has relied on its OPEN Forum to provide business advice and insight. The social site includes a blog with frequently updated content, and a large collection of videos that users can rate and share via other social networking channels. In the site’s “Idea Hub,” forum members can network with one another and with industry experts, as well as customize topics to their specific interests.

The social site has been extremely successful, increasing unique visitors 525% over the past year – from 160,000 in December 2008 to nearly 1 million in December 2009.

CreeLED Manufacturer Cree is embracing social media to build awareness and promote the benefits of LED technology, rather than directly sell products.

At the center of its latest campaign, “LED Revolution,” is an interactive social website. On the site, visitors can submit their bad lighting photos to win LED recessed downlights. The site’s blog is posted to almost daily, and humorous videos encourage visitors to, “Break Your Fluorescent Shackles!”

Cree also leverages Facebook and Twitter in a push/pull approach for the website.

Common B2C Failures

• Failing to Monitor • Expecting Instant Results• Failing to Invest Sufficient Resources• Focusing Internally• Not Building Networks or Using Syndication• Ignoring Synergy Between Different Media

Campaigns

http://www.business2community.com/trends-news/6-common-b2c-social-media-marketing-mistakes-0153

Good examples of B2C

Ford

• Introducing your blog and your readers’ comments to new viewers sets a welcoming and friendly first impression for any company.

• Ford takes the social sharing component to the next level by not only asking their customers for their Ford stories, but also asking their community to share ideas

• Photos are always a great way to attract new viewers and draw in existing audiences. In the image below Ford has added a Flickr widget to show off some of their latest photos, making their site more interactive and fun.

Zappos

One of the best engagement strategies I’ve seen on Facebook is Zappos’ “Fan of the Week” contest. They encourage fans to send in their photos with the Zappos box and other fans get to vote on the best photo of the week. What’s great is that Zappos highlights the fan of the week by putting him or her in their wall image photo for all to see. As seen below, this is definitely about putting your customers first!

Their catchy saying, “Let’s be in a Like-Like relationship,” shows they treat their potential fans as equals, solidifying their relationships even more.

Zappos is proving they care about building relationships with their fans first.

B2B Better than B2C?

Maintained company-related profiles on social networks:B2B: 81%B2C: 67%Participate in Twitter:B2B: 75%B2C: 49%Host blog/s:B2B: 74%B2C: 55%Monitor brand mentions:B2B: 73%B2C: 55%Engage in discussions:B2B: 66%B2C: 43%Participate in Q&A sites such as Yahoo Answers, LinkedIn, forums: B2B: 59%B2C: 44%Upload content (social objects) to Social Networks:B2B: 50%B2C: 32%Employee recruiting:B2B: 36%B2C: 27%

Manage a community dedicated to customers or prospects:B2B: 49%B2C: 51%Monitor/support user ratings and reviews:B2B: 49%B2C: 51%Produce Webinars or podcasts:B2B: 46%B2C: 22%Advertise on social networks:B2B: 42%B2C: 54%Utilize social bookmarking sites such as delicious and digg:B2B: 38%B2C: 21%

http://www.briansolis.com/2010/01/the-business-of-social-media-b2b-and-b2c-engagement-by-the-numbers /

• Social Media is growing every day. There are new sites coming out almost daily.

• SXSW suggests these are the top 9 new social media sites to keep an eye on

• Path• Highlight• Sonar• Banjo• Glancee• Localmind• Fancy• Forecast• gogobot