the social currency of social media by @joeyshepp
DESCRIPTION
A presentation at the LOHAS Forum 2010 on how social media provides many values beyond marking ROI and how engagement is the basis for a new social currency.TRANSCRIPT
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By Joey Shepp
The Social Currency of Social Media
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JoeyShepp.com
• Reconciling Ecology + Technology
• Technology Therapist
• Futurist
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• Website Design and Development, Social Media Marketing, and Branding
• Located in the EcoTown of Fairfax, north of San Francisco
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Social Media is BigLatest Stats
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Wide Spread Adoption
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International Growth
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Breaking Records
• World Cup USA Win second most Internet Traffic Day in history
• NBA Finals: 3,000 Tweets per second
• YouTube: 24 hours uploaded every minute
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The New Marketing Landscape
• Earned Media (PR)
• Owned Media (Website)
• Advertising (Paid)
• Social Media (Community)
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Measuring Social Media ROI
• Direct(sales/lead gen)
• Baseline: 6-12 month process
• Brand Sentiment
• Engagements
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Engagement as the basis forSocial Currency
• Responding
• Engagement / Participation
• Sharing / Thanking
• User Generated Content
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The Many Value Streamsof Social Media
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Give your Brand Away to your Customers
Brand Value
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Stabilize Brand Value
Most Volatile Asset
Sentiment Analysis
Affects Stock Prices
Case Study
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Direct SalesDeliver Value Directly to Customers
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E-commerce is Trackable
Referral Source
Conversation Rate
Case Study
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Lead GenerationProduce Content that Inspires Curiosity to Learn More
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Solar Installation Lead GenerationCase Study
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Special OffersMake your customer community feel special.
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$3 million in sales in 2 years / Cost: the salary of one employee.
Dell Outlet Twitter
Case Study
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Customer SupportResponding and fixing problems creates loyal customers
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Dedicated Twitter Account for Customer Support
Comcast Cares
Case Study
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Crowd Sourcing InnovationDraw innovation from your customer community.
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Starbucks Sponsors EcoCup contest
Case Study
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CSR CommunicationsTell your company’s responsibility story every day
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Seventh Generation
CRS Innovation
Open Feedback
Contests for Innovation
Case Study
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Environmental ImpactSocial Media is Good for the Environment
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Social Media is Sustainable
Reduced Travel
Many to Many Communications
Reduced Paper Use
Energy Use???
Case Study:
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Social GoodUse Social Media to Deliver Social Good
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Million Baby Crawl
• Seventh Generation
• Consumer Activism Campaign
• Toxic Chemical Policy Reform
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Sustainable Business is Perfect for Social Media
• Openness
• Transparency
• Authenticity
• Full Disclosure
In Summary
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Stay HumanReminder: