social media & sm marketing
DESCRIPTION
Slide presentation, Lecture Online Marketing & Social Media. University of Aruba. June 9th, 2011TRANSCRIPT
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Edward M. ErasmusLecture Online Marketing& Social MediaUniversity of Aruba, June 9th, 2011
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Agenda• What is Social Media?
• What is Social Media Marketing?
• Why (consider) Social Media Marketing?
• How will SMM contribute to your Strategy?
• How to get started?
• Conclusion and Key Takeaways
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What is social media?
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so.cial me.di.a…a whole network of sites where users can interact with one another whether it is by sharing information or discussing various topics
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Simply stated…
Social media is people having conversations and
sharing stuff online….
Social media is people having conversations and
sharing stuff online….
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Social networkingtimeline
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so.cial me.di.a
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Social media tools(to name a few)
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Contains profiles of Fortune 500 executives and leading entrepreneurs
Average individual salary on LinkedIn is $109,000
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Registered Users
100,000,000 +•Find contacts•Start and use groups•Create resumes•Use ‘signal’ for news/info•Link with slideshare•…and more….
LinkedIn community in Aruba is growing fast!
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A free, web‐based, collaborative, multilingual encyclopedia project supported by the non‐profit Wikimedia Foundation.
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Registered Users
190,000,000 +
Updates per month
54,000,000 +
microblogging tool + social networking
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Over 2 billion videos viewed daily
700 billion video playbacks in 2010Base age demographic is 18‐54
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•Create account•Create channels•Edit/create videos•Invite subscribers•Share content•Events•Post bulletins•…and more…
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Other (less known) social media platforms
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Understanding the power of social media
Memorable social media moments of past few years
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US Presidential election 2008The ‘Facebook’ electionThe Obama campaign used not only Facebook and YouTube, but also MySpace, Twitter, Flickr, Digg, BlackPlanet, LinkedIn, AsianAve, MiGente, Glee and others to engage you voters.
Obama McCain
Supporters on Facebook 2,000,000 600,000
Followers on Twitter 112,000 4,600
YouTube channel visits 18 million 2 million
YouTube channel views 97 million 25 million
Obama had a social media strategyMcCain ..???
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Iran elections 2009Her Name Was Neda…
The images of Iranian protests against the disputed election of President MahmoudAhmadinejad were widely broadcasted to the world through Wikipedia, Twitter, Flickr, and YouTube.The killing of young student Neda Agha‐Soltan posted on YouTube was probably the most widely witnessed death in human history.
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Britain’s Got Talent 2009Susan Boyle…a surprise YouTube hit(2.5 million views in just 72 hours)Susan Boyle astonished the judges at the auditions for ITV1 show with her rendition of ‘I Dreamed A Dream from Les Miserables’.
The original video posted in 2009 has over 66 million views to date.
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Bieber fever heats up YouTube 2009
Over 1 million fans on Twitter before launching his first album…
Discovered by a talent agent who came across one of the videos his mother uploaded to YouTube. Two months later he signed to a record label.
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Most searched celebrityon the web‘Baby’ is most viewed YouTubevideo in history: > 559.000.000 times
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From social media tosocial movement 2011
Facebook and Twitter were considered as key players in the uprising in the Middle East
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More stories gone viral...
The man with the golden voice
Victim’s bro gone renowned…
Launched to worldwide ‘fame’ with her single “Friday”: 161 million views
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So how powerful is social media?..
“We’re still in the process of picking ourselves up off the floor after witnessing firsthand the fact that a 16‐year‐old YouTuber can deliver us 3 times the traffic in a couple of days that some excellent traditional media coverage has over 5 months.”~Michael Fox, founder of Shoes of Prey
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Thanks to social media:
• Towards a more social, collaborative, interactive and responsive web
• Opportunities for businesses to engage in creative new forms of online communication with (potential) clients.
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SocialMediaMarketing
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Social media marketingThe process of promoting business or websites through social media channels
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By now we should have realized that social networking is not a hype…..
It’s a fundamental shift in the way we communicate.
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“In 2008, if you are not on a social networking site, you are not on the internet.”~IAB platform status report: User generated content, Social media, and advertising
–An overview, April 2008
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So why Social Media Marketing?
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Three key reasons to start considering Social Media
Marketing….
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Reason #1The ‘engagement’ factor…
“Social Media is an excellent point of initial engagement with consumers – essentially the first step in a purchase process.”
~Michael Orpen
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“One thousand three hundred and thirty years in time
is spent daily on ”
Source: www.facebook.com
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Users following a brand: 31%Brand recommendations per
month: 7,800,000 +
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Dell’s Success in using Twitter
• Fast to adopt (2007)
• Segmentated users
• Created special offering for each of its segments
• Created a community and build a trust factor
• Targeted ‘Sales messages’ to the community
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Reason #2
78% of people trust recommendations of other consumers.
While only 14% of people trust tv and radio advertisements.
Source: Nielsen report “Trust in advertising”
The ‘word‐of‐mouth’ factor…
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Say goodbye to the era of
monologue
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The new communication model is
dialogue
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Some more interesting facts….
The average person is exposed to 3000advertising messages/day
90% of people who can skip TV ads, do.
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Reason #3The ‘Gen‐Y’ factor
”Technology is the major influencer of Generation Y’s buying behavior. It influences how they find and compare products, as well as how they get their products.”~Angela Hughes,
Strategies for Reaching the Elusive Generation Y Consumer (2008)
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Generation Y is here!!!
Generation Y??
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Generation YBorn in the mid‐1980's and later….
• Generation Y (a.k.a. Millennials) are in their 20s and are entering the workforce in large numbers.
• Companies cannot ignore the needs, desires and attitudes of this vast generation.
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Gen Y characteristics…
• Tech‐Savvy
• Continually Connected
• Skim Text and Information Quickly
• Influenced by Peers
• Easily Bored
• Attention‐Craving (recognition)
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Millennials spend>16 hours/week online.
96% of them have joined a social network.
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Staying ‘online’ is an integral part of Generation Y’s lives
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Tomorrow’s consumers are today’s “digital natives”
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“Social media is like a snowball rolling down the hill. It’s picking up speed. Five years from now, it’s going to be the standard.”
~Jeff Antaya, chief marketing officer of Plante Moran
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How can Social Media contribute to your Marketing Strategy?
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Traditional marketing often focuses on the
four P’s:
Product
Price
• Place• Promotion
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Social Media Marketingenables you to add more P’s to your marketing & communication mix…
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#1…..Participation• Offering customers a voice will lead to a greater sense of ownership
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Starbucks gave consumers a voice....the result:
over 50,000 product ideas
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What is a brand anyway?.....
#2…..Personality (brand)
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A brand =…name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of a company.
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Brand loyalty Strong human connection
• SM offers an opportunity for a brand to show its personality, without it looking like a marketing plan or ad campaign.
• SM Marketing is all about connecting with people first as human beings and then as customers later.
• SM = branding through conversations!
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#3...
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• Forget B2C or B2B……
it’s now P2P (person‐2‐person)
…customers want to connect and interact with companies on a 1:1 social level
…and those who can deliver that, will gain substantial competitive edge..
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#4… 24/ 7 Public Relations
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• Show both sides of a story;
• Can be used to provide comments, to dispel myths and to correct incorrect information that may be circulating;
• Consultation can take place in an effective way, as it allows for greater openness and transparency.
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So…in essence….ProductProduct PricePrice PlacePlacePromotionPromotion
ParticipationParticipation Personality(brand)
Personality(brand) PRPRP2PP2P
R.O.I.
Customer loyalty + Reveneus
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So how to get started?...So how to get started?...
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Getting started….1. Define your objectives
2. Define your audience
3. Define your strategy
4. Choose your channels
5. Plan a content agenda
6. Decide on who will manage what
7. Define measurement mechanisms
8. Execute – evaluate – adapt – execute….
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ConclusionSocial media has completely changed the landscape of marketing, and when executed well, it has positive implications for multiple divisions:
• from consumer insights
• to product development/innovation
• to marketing
• to corporate reputation
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Key Takeaways….[3 P’s when launching SMM]
•Purpose•Point of view•Patience
Forget marketing, start engaging!
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Some afterthoughts about SMM….
• Core business: products / services
Quality, promises, commitments, relationships
• Social media is an ingredient, not an entrée…
No replacement for all other marketing tools,
instead: it should be integrated with other online and offline marketing strategies
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THANK YOU!!
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Edward M. Erasmus, MA
[email protected]: http://www.facebook.com/edwardmerasmus
Twitter: http://www.twitter.com/em_erasmus
LinkedIn: http://www.linkedin.com/in/edwardmerasmus