Transcript Social Media Marketing - socialcomputing-iba

Social Media
Marketing
Madiha Saeed
Maryam Mehtab
Masooma Imran Naqvi
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What is Social Media Marketing?
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Social media marketing is a recent addition to organizations’
integrated marketing communications plans. Integrated
marketing communications is a principle organizations follow to
connect with their targeted markets.
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It is the process of marketing through social media sites like
Twitter, Facebook and YouTube.
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Social media has become a platform that is easily accessible to
anyone with internet access, opening doors for organizations to
increase their brand awareness and facilitate conversations
with the customer.
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Additionally, social media serves as a relatively inexpensive
platform for organizations to implement marketing campaigns.
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By utilizing the social aspect of the web, social media
marketing is able to connect and interact on a much more
personalized and dynamic level than through traditional
marketing.
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Social media marketing benefits organizations and
individuals by providing:
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an additional channel for customer support,
a means to gain customer and competitive insight and
a method of managing their reputation online.
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Social media gives marketers a voice and a way
to communicate with peers, customers and
potential consumers. It personalizes the "brand"
and helps them spread their message in a relaxed
and conversational way.
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Key factors that ensure its success are its
relevance to the customer, the value it provides
them with and the strength of the network on
which it is built.
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Models of Social Media Marketing
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Every social network will provide you with it’s
own possibilities and traps. A well executed
strategy is a must or you’ll end up in a minefield.
Johan Ronnestam has given us 2 models for
successful social media strategy.
The Social Staircase
The Social Tool Matrix
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The Social Staircase
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The Social Staircase
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Step 1 -Strategy
Establish a strategy that supports your business
Step 2 – Presence
The mother of all conversions is content. Think about it – when you’re at a party, how
long do you think your conversation would last if you didn’t provide any true value.
Think about you and your business. What value can you provide people with and in
what format? Blogs, Video, Photos, Podcasts, Livestreams, Advisory, Games,
Knowledge etc. Based on your strategy in step 1 – what kind of value can you
provide your target group and potential fans with?
Step 3 – Tools
So know you know that kind of presence you’re after. Then it’s time to gear up.
Facebook, Twitter, Slideshare, WordPress, LinkedIn, Scribd, Google Buzz might be
the obvious ones. But dig deeper – there’s something for everyone out there and you
should consider where your content will work at it’s best!
Step 4 – Conversation
Listen. Talk back. Listen. Talk back. Listen. Talk…This is what a conversation is all
about.. You create valuable content and then once you let it out in the open – listen
and learn how to fine tune those spirals of yours.
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Outline your tactical tools with a
Social Tool Matrix
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 Once you’ve passed the strategy and presence step in the Social Staircase it’s
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time to map which tools can do the work for you. It’s now time to create a Social Tool
Matrix.
What tools shall we use to fulfill our strategy?
Just because your competitor is riding the wave over at Facebook doesn’t mean you
should. Look back at the social staircase. What strategy and what presence should
you support?
Why should we use this tool?
Publish, interact, spread, buzz, images, video etc. Remember that sometimes you’ll
be better off with more than one tool doing the same thing. Video for example.
YouTube, Viddler and Vimeo are all about video but have different advantages.
Who should be responsible for the updates?
Make sure your social marketing is spread out horizontally on your organization.
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What’s the naming / domain conventions?
Use a uniform naming convention so that you do not confuse customers.
When can we say we’re successful?
This is a hard one. People that comment your blog posts. Diggs. Linkups.
Facebook recommendations. Re-tweets. SEO effects. Actual sales. You
pick your own index but make sure to pick a couple. Both qualitative and
quantitative cause they’re both important.
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Importance of Social Media Marketing
Branding:
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Companies can use social media channels as a way of
increasing their goodwill and trustworthiness which may
ultimately result in better branding.
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Two way communication with customers
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Creates brand credibility.
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Engage with its customers
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Social media channels make it more easier and flexible
when it comes to engaging with its customers.
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Customer engagement is the most important benefits of
social media marketing and this helps in retaining
customers and also increasing brand credibility.
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During the recent economic downfall, a lot of companies
succeeded in retaining its customers with the help of
customer engagement through social media channels.
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Improve ROI
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Promotion of your products in relevant and
product niche social media channels can help you
increase your return on investment (ROI).
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Industry relevant social media marketing can help
in making your conversion rates better and enjoy
a enviable ROI.
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After Twitter announced a program inserting advertising
messages into tweets, marketers are chirping the
program’s praises.
Initial advertisers Virgin America, Bravo TV and Red Bull
have kind words for the program, called Promoted
Tweets, and point to ROI success. For instance, Virgin
used Promoted Tweets as the sole means of announcing
the airline’s expansion into Toronto, offering a 50
percent-off promotion for the first 500 travelers who
booked flights from two California airports. Thanks to
enthusiastic retweeting, the offer was sold out in three
hours.
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Getting Customer Feedback
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Customer feedback is the backbone of any industry and
the feedback helps in improving the products as per the
customer’s requirements.
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Since social media channels help in making customer
engagement much easier, customer feedback is always
there on the top and one can always expect helpful
customer reviews and feedback which can help in
making the products or services even more better.
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Announcing New products or services
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There is no other better and cheap media than the
social media sites to inform the customers about
the arrival or release of new products and
services.
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Social media channels make it easier to spread
the news of new product or service arrival to the
targete audience.
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Know more About Customer Preferences:
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Social Media allows you to know more about the
trends and preferences of the customers and act
accordingly.
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Knowing the preferences of your customers
makes it easier for you to enhance your product
and plan your online marketing campaigns in
much more effective way.
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Influence on Search Engine Rankings
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Search engines are the most relevant and consistent traffic
generator for any website.
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Effective Social Media campaigns can bring out a remarkable
influence on your search engine rankings.
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Since most of the search engine giants are going on with real
time search results, the social media updates and bookmarks
can help your site rank much better in the search engines.
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Enhance Customer Relationship Management
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Customer relationship is an integral part of the growth of
any company and when customer relationship fails, the
company and its operations are also bound to fail.
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Social media channels helps in making strong bonds
between the customer and the company much more
easier and thereby increasing the stability of the
company.
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Red Bull - Fan Page
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The Red Bull Fan
Page is one of the
most exciting
places on
Facebook
because it breaks
out of the
stereotype and
offers content that
is fun and funny –
and it encourages
fans to interact
and connect with
the brand.
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The Cakery
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Do’s and don’ts of social media
marketing
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Do’s
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Do find the social network that's right for you.
Everything that follows hinges upon this point. It's not all about Facebook. Some
businesses will benefit more from concentrating on niche networks that may have less
traffic, but more are targeted to that particular brand's consumer.
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Do map out a weekly schedule that outlines the specific days and times that has to be
spent on social media
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Do keep an eye on the competition and see what they are up to.
What kind of promotions are they offering
Who are their fans
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Do answer the critics: It is important to listen and respond to all customers, not just those
who rave about your company and products.
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Do empower users to engage: Give customers a voice and
content to work with, allow them to comment on blog posts
and NOT remove negative comments from user forums,
blogs, etc.
Do use tools to save time:
Take advantage of the various social media tools that are
designed specifically to time
Sites like www.ping.fm, www.seesmic.com and
www.tweetdeck.com help by sending updates to multiple
social networking sites
Sites like www.cotweet.com let you schedule updates in
advance.
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Dont’s
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Don’t forget to keep your social profiles live and updated
Freshness is of the essence in social media, if all a profile can provide is stale information, it is of little
use to anyone.
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Don’t copy someone else’s social plan:
Your business, your category, your culture, your product and your budget are unique to your company.
Copying another organization’s model in theory sounds smart, but in practice can set you back months,
if not years.
Don’t forgot that social media marketing is a team sport:
Requires multiple groups in your company to be involved, engaged and accountable
Many companies just leave it to the I.T dept
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Don’t place a person in charge to oversee the initiative who does not understand the impact of the
culture of social media. Always hire the correct people
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Don’t assume social media marketing is silver bullet which will transform a poor quality product or
service into a super brand.
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Don’t have a “self promotion” agenda:
Social media is about engaging in the conversation and not just about selling.
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The pros of social media marketing
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You can reach customers that traditional marketing misses. You never know who will
direct a friend to your blog, Facebook page or social bookmark post
You can build brand loyalty. Not only can you use social media to build your brand,
you can use it to demonstrate your personality, interact with customers and show
them that you care, which, in turn, breeds loyalty.
You can learn how to improve your products and services. By encouraging open
communication through public comments, you can learn what you can do to make
your products better.
You can learn more about your target audience, not only by their comments but also
by studying visitor analytics. This information can prove invaluable when planning
other marketing campaigns
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.
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The cons of social media marketing
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Social media marketing places high demands on your time. Content
must be created, edited, approved and published; comments must
be responded to and sites and pages must be maintained.
Social media marketing places high demands on your talent. It can
be difficult to constantly come up with innovative exciting content
that interests a variety of readers and, without relevance, your
efforts will be wasted.
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. Social media marketing can
work to build relationships and brand loyalty, but it takes time and
dedication. Social media marketing efforts are not likely to earn
immense popularity overnight, so you must be willing to be in it for
the long haul if you decide to launch a social media marketing
campaign.
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Social media marketing metrics
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Traffic
This is one of the more obvious ways of measurement.
Track web traffic breakdowns from all social media sources
Bounce rate. Are visitors coming to your site from SM
sites but quickly leaving? Maybe your landing page needs
to be better and more relevant. Maybe the information
they’re seeking isn’t easily found.
Membership increase and active network size. Is your
collective members, followers, fans network growing, and
is there interaction with your content?
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Activity ratio. How active is your company’s
collective social network? Compare the ratio of
active members vs total members, and chart this
over time.
Activity can be measured in a variety of ways,
including usage of social applications.
Brand mentions in social media. Measure and
track both positive and negative mentions about
your brand
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Loyalty. Are social members interacting in the network repeatedly,
sharing content and links, mentioning your brands? How many
members reshare? How often do they reshare?
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Virality. Social members might be sharing Twitter tweets and
Facebook updates relevant to your company, but is this info being
reshared by their networks? How many FoFs (Friends of Friends)
are resharing your links and content?
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Blog interaction: Blogs are part of Social media marketing but only
if you allow comments and interact with readers by responding.
If the blog’s content is suitable for social voting (Digg, Mixx, etc.) or
social bookmarking (Delicious, Stumbleupon) sites, install a blog
plugin that displays the necessary sharing “buttons”
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