Social Media 101Presentation to members of

Downtown Halifax Business CommissionMarch 29, 2010

Maria McGowanInternet & Marketing SpecialistGreater Halifax Partnership

The Social Media bubble will burst

• There is no bubble

• The tools will change, the platforms will evolve

• We’re hard-wired to be social

• We did not grow tired of the telephone, television or the

internet

• It’s value is too great to give up

• Mobile technology is the game changer

Anyone can do that job

• Just because someone spends time on Facebook doesn’t

mean that he/she is qualified to be an online community

manager for your organization

• Not as simple as managing a personal social media account

• Set criteria, guidelines and even a strategy

• This is a serious, legitimate activity

Anyone can do that job

Have a plan

• Listen

• Keep RT’s to a minimum

• Share original ideas (be inspired by best practices)

• Be creative, clever and find angles

• Be positive

• Keep at it and ditch the corporate speak

• Handle negativity on an individual basis

• Don’t be a parrot

Be yourself

Set guidelines

Know how you’ll speak to your followers

• Know your target audience

• Quality vs quantity

• Don’t add to the noise

How we use social media

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

• Live-tweeting during press conferences, events, meetings etc (with hashtags)

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

• Live-tweeting during press conferences, events, meetings etc (with hashtags)

• Newsroom environment

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

• Live-tweeting during press conferences, events, meetings etc (with hashtags)

• Newsroom environment

• Immersed into our culture, lunch & learns/one-on-ones

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

• Live-tweeting during press conferences, events, meetings etc (with hashtags)

• Newsroom environment

• Immersed into our culture, lunch & learns/one-on-ones

• Senior exec’s are tweeting

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

• Live-tweeting during press conferences, events, meetings etc (with hashtags)

• Newsroom environment

• Immersed into our culture, lunch & learns/one-on-ones

• Senior exec’s are tweeting

• Regular internal emails – when we reach milestones, staff member wrote a blog post etc

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

• Live-tweeting during press conferences, events, meetings etc (with hashtags)

• Newsroom environment

• Immersed into our culture, lunch & learns/one-on-ones

• Senior exec’s are tweeting

• Regular internal emails – when we reach milestones, staff member wrote a blog post etc

• Annual awards (internal)

Greater Halifax Partnership and Social Media

• Annual Social Media Strategy with metrics

• Incorporated into marketing & communication plan and organizational business plan

• Monthly reporting

• Blog, Twitter, LinkedIn, SlideShare, Facebook Page, NING, Flickr (they’re all branded)

• Live-tweeting during press conferences, events, meetings etc (with hashtags)

• Newsroom environment

• Immersed into our culture, lunch & learns/one-on-ones

• Senior exec’s are tweeting

• Regular internal emails – when we reach milestones, staff member wrote a blog post etc

• Annual awards (internal)

• Experimenting/ learning environment

why we use social media?

social media ROI

Facebook likes or followers on Twitter

It’s not just about…

For example

• Shares

• Mentions (positive, negative or neutral)

• Blog comments

• Retweets

• @mentions

• email opens and click through rates

• “likes” of a Facebook page

… That kind of stuff

But they’re good for measuring “engagement”

• Lowered cost of new customer acquisition

• Reduction in average customer serving costs

• Increasing customer satisfaction

It’s really about

Here’s what you can do

- awareness?

- lead generation?

- visits to website

- more relationships?

What are your social media objectives

Quantitative Metrics

Qualitative Metrics

ROI Metrics

There are 3 categories of measurement

These metrics are data-intensive & number-oriented.

Success Metrics Goal

monthly sales directly linked to Twitter $ monthly sales

new customers directly linked to

Twitter

$ monthly sales directly linked to

Twitter

#1 Quantitative Metrics

Dell is capitalizing on Twitter’s

real-time nature for exclusive,

limited – customer / limited-period offers

These metrics have an emotional component

Here’s a campaign to increase satisfaction:

Success Metrics Goal

Amount of positive comments sent to

customers per week within a given

time

Amount of positive conversations

about your organization or company

per week

Amount of good suggestions that your

company hadn’t thought of

Amount of suggestions collected per

month and amount that you actually

implement

#2 Qualitative Metrics

Users felt that they had a role in the decision making

process of the company.

They felt that Starbucks cared.

#3 ROI Metrics

Success Metrics Goal% of people you converted from a

prospect to a customer on your e-

commerce site

Increased customers

How many people you converted from a

prospect to a client on your B2B site

Increased clients

All roads lead to here

Conversion rates:

Let’s do some math

It’s the most important formula in social media

CLV is the amount of revenue a customer will bring to your

company over the course of his/her lifetime with your brand.

Understand your Customer Lifetime Value (CLV)

For example:

Typical customer spends $10 per month and

stays loyal for 3 years.

$10 x 12 months x 3 years = $360 (CLV)

Estimating your Customer Lifetime Value (CLV)

Many people use 10% of their CLV as a starting point.

So they’ll spend $36 to acquire 1 new customer

Customer Lifetime Value (CLV) and social media

$36 is what it takes to get 1 customer.

Let’s say you want to run a Social Media campaign to get

100 customers

$36 x 100 = $ 3,600 campaign budget

Customer Lifetime Value (CLV) and social media

Landing page?

Mobile app?

Monthly e-newsletter with tips to stay in

front of prospects and new customers?

Video(s)?

Facebook ads or LinkedIn ads…?

Test…test…test…

What $3,600 can get you

Pay off?

- More engagement with your audience

- Understanding your audience’s behaviours

- Measurement

- Goals reached

- Buy in

Pay off?

Maria McGowanInternet & Marketing SpecialistGreater Halifax Partnership

@mariamcgowan@greater_halifax

Thank you