social media: mortgage bankers association
TRANSCRIPT
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Social Media RevolutionPresented by:Jonathan Arehart
Twitter @jarehart & @cavendoFacebook.com/cavendowww.cavendo.com
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Agenda
•Overview Video (5 minutes)
•Discussion on social media (90 minutes)
•Q&A (20 minutes)
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Agenda
•Introduction & Principles
•Major Platforms (Facebook, LinkedIn, Twitter)
•Bringing It Together (Planning, Measurement, Privacy, & the Future)
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What is “Social Media?”
•Wikipedia says it’s the:
“type of media…based on conversation and interaction between people online.”
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What is “Social Media?”
•It’s not one thing
•It’s not just Facebook or Twitter
•It’s about how we communicate
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What is “Social Media?”
•Types of applications include:▫Communication▫Collaboration▫Multimedia▫Reviews & opinions▫Entertainment▫Brand monitoring▫Aggregators
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Examples
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Gary Vaynerchuk•Grew wine store from $4 million to $50
million
•Best Selling Book (CRUSH IT!)
•64,000 fans on Facebook
•880,000 followers on Twitter
•Weekly SIRIUS XM Radio Show
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Ian Watt
•The “condo king” of Vancouver
•Video blogs almost daily
•Volume, name recognition, and results
•Just a regular guy like you and me!
•He’s having fun
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What does this mean?
•Finding the right channels
•People want to interact, but…
•The way they want to interact
•Listen to your audience and engage
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What’s the impact?
•Faster communication
•Much more targeted communication
•Interaction
•Your audiences are evolving
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Think of the uses
•Customer service
•Emergency response and communication
•Media relations
•Audience identification
•Event planning
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More uses
•An extension of your current efforts
•Information moves so much faster
•STOP using just email and get more targeted
•The key is integration
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You
600+ millionusers worldwide
Billionsof Blogs
100+ millionusers worldwide Billions
of Emails
100+ millionusers worldwide
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Plant Your Seed
•Get started on the networks that make sense
•Start finding your audience
•Connect
•Promote
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Blogging
•Easy to get started
•Write about what you know
•Keep it short, simple and informative
•Stick with it
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•Started as a college-only network
•35+ represents almost 1/3rd of all users
•55+ is the fastest growing user base
•Business Pages separate personal from business
•Setup a business page
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•Promote your page
•Advertise (where appropriate)
•Encourage participation
•Don’t just broadcast…interact
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•Very much a business tool
•Setup a company page
•Load your rolodex and contacts
•Reach out and stay active
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•Groups, Discussions, and “People You May Know”
•Great ways to build your network
•Great for hiring
•In this context: finding partners, etc.
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•Think of it as “micro” blogging
•Easy to post updates
•Follow brands and people at all levels
•Extremely fast-paced and interactive
•Setup an account and be real
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•Define the “how” and the “why” you’ll use Twitter
•Big commitment but can payoff for certain relationships
•Great with niches like media relations
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Other Networks
•Plenty of niche networks
•You can start your own with services like Ning
•Consider sites like Flickr (photos) and YouTube (videos)
•Don’t just do them all – focus on the ones that matter to you
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Bringing It Together
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Planning
•Incorporate social media w/marketing planning
•Consider a content plan
•Consider where your audience is and how they want to hear from you
•What will you say & when/where will it go?
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Planning
•Two aspects to consider:
1. ConsumptionHow do you receive information & process it?
2. ParticipationHow do you engage & be an active user on social media networks?
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Planning
•Find the right tools
•Most incorporate the major social networks like Facebook, Twitter & LinkedIn
•Consider where & how often you’ll access (e.g., at home, the office, or via your phone)
•Some examples:
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What to Say?
•Keep it conversational, not promotional
•Focus on relationship building
•Think of it like a giant cocktail party or networking event
•Write for the platform
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Examples
•Facebook: Photo with a note, link to an article
•Twitter: 140 character limit, so keep the message simple – think of a text message
•LinkedIn: Provide links to articles or just general updates
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Set Boundaries
•How many turn off your cell phone at home?
•Be accessible but don’t let it overwhelm you
•Understand your commitment level & translate to time per day or week
•Could start as simple as 15 minutes/day
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Concerns & Risks
•Information overload
•Privacy (public vs. non-public disclosure)
•Access to information
•Time vs. value
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Safety & Privacy
•As an employer, don’t block it
•Have very clear guidelines and boundaries
•Monitor what’s happening
•Consider a social media policy
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How to Measure?
•Tangible:▫# of Followers▫# of Fans▫Comments▫Visits to Website
•Intangibles:▫Influence▫Reach
Klout.comGrader.com
Google AlertsTwitterStats.comFacebook Insights
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Measurement
•Ultimately it’s about conversions & the bottom line
•May not be a direct correlation between tangible measurements & results for a while
•Some activities are ‘community building’ or ‘branding’
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Measurement
•Remember the platforms may change
•Therefore, the metrics will change as well
•Correlate to real measurements you already use (e.g., network size, # of subscribers)
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What to be aware of
•Barriers are breaking down
•Disclosure is changing – who, how, and when
•It will happen with or without you – your stakeholders will run the show
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The Future
•Location & mobile
•Contextual networks
•Speed & intelligent information flow
•Faster & more relevant
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Final Thoughts
•Doing the ‘right’ activities
•Being an active participant
•Know your identity – and your limits
•Set goals and measure often – but give it time
•Have fun but have your goals in mind
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Questions?
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Interact with Me
•twitter.com/jarehart (@jarehart)•twitter.com/cavendo (@cavendo)
•Linkedin.com/in/jarehart•Facebook.com/cavendo•www.cavendo.com
•Email: [email protected]•Phone: 703-530-6555