Transcript Social Media for Sales

How Marketers Are Using
Social Media to Grow Their
Business
Market Segmentation
Market
People or organizations with
needs or wants and the ability and
willingness to buy.
Market
Segment
A subgroup of people or organizations
sharing one or more characteristics that
cause them to have similar product
needs.
Market
Segmentation
The process of dividing a market into
meaningful, relatively similar, identifiable
segments or groups.
The Concept of Market
Segmentation
The Importance of Market
Segmentation
 Markets have a variety of product
needs and preferences
 Marketers can better define
customer needs
 Decision makers can define objectives
and allocate resources more accurately
Segmentation Bases
Characteristics of individuals, groups, or
organizations used to divide a total market
into segments.
(variables)
Bases for Segmentation
Geography
Demographics
Psychographics
Benefits Sought
Usage Rate
Demographic Segmentation
Segmenting markets by age, gender,
income, ethnic background, and family
life cycle.
Age Segmentation
Young children
under age 9
Tweens
ages 9 to 12
Teens
ages 12 to 19
Young adults
ages 20 to 34
Baby boomers
ages 45 to 64
Seniors
ages 65 and over
Psychographic Segmentation
Market segmentation on the basis of
personality, motives, lifestyles, and
geodemographics.
Benefit Segmentation
The process of grouping customers into
market segments according to
the benefits they seek from the product.
Behavioral Segmentation
The process of dividing customers into
groups based on how they use the product
or service.
Usage-Rate Segmentation
Dividing a market by the amount of
product bought or consumed.
Target Market
A group of people or organizations for which an
organization designs, implements, and
maintains a marketing mix intended to meet the
needs of that group, resulting in mutually
satisfying exchanges.
Strategies for Selecting Target
Markets
Undifferentiated
Strategy
Concentrated
Strategy
Multisegment
Strategy
Undifferentiated Targeting
Strategy
Advantages:
 Potential savings on
production and marketing
costs
Disadvantages:
 Unimaginative product
offerings
 Company more susceptible
to competition
Concentrated Targeting Strategy
A strategy used to select one
segment of a market for targeting
marketing efforts.
Niche
One segment of a market.
Concentrated Targeting Strategy
Advantages:
 Concentration of resources
 Meets narrowly defined
segment
 Small firms can compete
 Strong positioning
Disadvantages:
 Segments too small, or
changing
 Large competitors may
market to niche segment
Multisegment Targeting Strategy
A strategy that chooses two or more welldefined market segments
and develops a distinct marketing
mix for each.
Product Differentiation / Value
Proposition
A positioning strategy that some firms
use to distinguish their products from
those of competitors.
Differentiation
Process of adding a set of meaningful and
valued differences to distinguish the
company’s offerings from competitors’
Differentiation Strategies
Product
FAB
Personnel
Customer service
Channel
Social media
Image
brand
Social Media Statistics
 1. The fastest growing demographic on
Twitter is the 55–64 year age bracket.
 This demographic has grown 79% since
2012.
 The 45–54 year age bracket is the fastest
growing demographic on both Facebook and
Google+.
 For Facebook, this group has jumped 46%.
 For Google+, 56%.
So…what does that mean
 Those are impressive numbers against the prevailing
idea that social media is "just for teenagers." It
certainly points to the importance of having a solid
social media strategy if these age brackets fit into
your target demographic.
 Rethink it: Keep older users in mind when using
social media, particularly on these three platforms.
Our age makes a difference to our taste and
interests, so if you’re focusing on younger users with
the content you post, you could be missing an
important demographic.
Mobile Marketing
 189 million of Facebook’s users are "mobile
only"
 Not only does Facebook have millions of
users who don’t access it from a desktop or
laptop, but mobile use generates 30% of
Facebook’s ad revenue as well. This is a 7%
increase from the end of 2013 already.
Mobile…..
 Rethink it: There are probably more users
accessing Facebook from mobile devices
than you thought. It’s worth considering how
your content displays on mobile devices and
smaller screens before posting it, particularly
if your target market is full of mobile users. Of
course, make sure to make sharing to social
media from mobile more straightforward.
YouTube
YouTube reaches more U.S. adults aged 18–34 than
any cable network
 Did you think TV was the best way to reach the
masses? Well if you’re after 18–34 year olds in the
U.S., you’ll have more luck reaching them through
YouTube. Of course, one video won’t necessarily
reach more viewers than a cable network could, but
utilizing a platform with such a wide user base makes
a lot of sense.
 Rethink it: If you’ve been putting off adding video to
your strategy, now’s the time to give it a go. You
could start small with simple five-minute videos
explaining what your company does or introducing
your team.
LinkedIn
 . Every second two new members join
LinkedIn
 LinkedIn, the social network for professionals,
continues to grow every second. From groups
to blogs to job listings, this platform is a rich
source of information and conversation for
professionals who want to connect to others
in their industry.
So…what does that mean?
 Rethink it: LinkedIn is definitely worth paying
attention to. In particular, this is a place where
you may want to focus more on new users.
Making your group or community a great
source of information and a newbie-friendly
space can help you to make the most out of
the growing userbase.
 Make sure you share consistently to your
LinkedIn company page and profile by, for
example, scheduling your posts.
However….
 Rethink it: If you’re hoping to get people
involved, think about which platforms are best
for that. Looking at the latest Twitter statistics
and Facebook statistics, these platforms
might be a better place for your contest or
survey, while passive content like blog posts
or slide decks might be just right for your
LinkedIn audience.
Blogging…
 Blogging is clearly a big focus for marketers
who want to take advantage of social media
and content marketing. This is great, because
blogging for your business has lots of
advantages: you can control your company
blog, you can set the tone and use it to
market your product, share company news or
provide interesting information for your
customers. With only 9% of marketing
companies hiring bloggers full-time, however,
the pressure to produce high-quality content
consistently will be a lot higher.
To blog or not to blog…..
 Rethink it: If you don’t have (or can’t afford) a
full-time blogger for your business, be aware
that having a content strategy that requires
consistently posting on your blog will mean a
lot of work for your marketing team and/or
other team members in your company to
keep up that volume. This can work, it’s just
important to realize how big a task it is to run
with a full-time content strategy without a fulltime content creator.
Social Media Strategies
 Your social media strategy really comes
down to what your goals are, and who your
target customers are, but it doesn’t hurt to
pay attention to the trends happening across
the web.
 Hopefully these stats will help you to identify
trends that will affect your strategy and adjust
accordingly.
Identify Social Media Marketing
Objectives and Set Budgets
 Increase brand awareness
 Improve brand or product reputation
 Increase website traffic
 Amplify or augment public relations work
 Improve perceived customer service quality
 Generate sales leads
 Increase sales / sales revenue
Setting objectives
 Be specific (what, who, when, where)
 Be measureable
 Specify the desired change (from a baseline)
 Include a time line
 Be consistent and realistic (given other
corporate activist and resources)
Every customer is a G.U.E.S.T
 G – greeting 1st
impression
 U – understanding
Listen, learn
 E – efficiency
 S – special treatment
 T - thankfulness
Facebook Themed Days
1.
Motivational Mondays
Every Monday, take an
inspirational quote from a
marketing thought leader and
turn it into a visual.
Tag each post with the
phrase “Moments of Marketing
Genius” and
“#motivationalmonday.”
The motivational quote prompts
a lot of sharing among the
audience.
Tuesdays and Thursdays
 Mini Infographic Day
 Your audience loves data and visual images,
so they particularly love data presented in a
highly visual way. On Tuesdays and
Thursdays, find fun and interesting stats
around marketing and turn them into bold
visuals. One stat, one point, one
 optimized piece for Facebook!
 We then preface each visual with a question,
which ultimately leads to engagement and
sharing.
Wednesday
 Hump Day Marketing Joke Wednesdays
 Wednesday is the day of the week when your
audience really needs a smile.
 Each Wednesday, simply find a fun
marketing comic or joke and post it on
Facebook.
 The idea is to give marketers a laugh and
show them you have a sense of humor.
Friday
 Friday Photobomb
 You will get a ton of
 engagement on photobombs.
 Of course, a photobomb has nothing to do
with marketing, but that’s OK. It is fun and
entertaining.
http://www.youtube.com/watch?v=0GYLM1
SB3aA&list=PL1724E63AC95F9AF4