social media: the power to move business forward

ERIN GERALD AFFILIATES

Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute.

Social Media: The Power to Move Business Forward Wilson Toussaint Jr., President & CEO April 20, 2011

ERIN GERALD

Copyright © 2011 Erin Gerald Affiliates. All rights reserved. Do NOT distribute. 2

•  History •  Market Shifts and Trends •  Harnessing Social Media for Business •  Q&A

Contents

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What is Social Media?

A group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, which

allows the creation and exchange of user-generated content.1

Source: Wikipedia

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What is Social Media?

Web applications and tools that allow people to create and share content

Social Networking Blogging Micro-Blogging

Photo/Video/Music Sharing

B2B Social Networking

Location-Based Social Networking

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Social Media Revolution Video http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/

Why Should I Care About Social Media?

Used with permission from Erik Qualman.

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•  You need to be where your customers are, and they are on Social Media –  662,000,000 users on Facebook and counting2… –  200,000,000 users on Twitter and counting3… –  200,000,000 blogs and counting4… –  100,000,000 users on LinkedIn and counting5… –  2 billion video views/week on YouTube and counting6…

•  Your competitors do –  70% of small businesses use Facebook7

–  250,000 businesses using Foursquare to reach its 8,000,000 users8

–  2,000,000 businesses on Linked In & 73% of the Fortune 100 use it for recruiting9

•  Your customers/prospects are talking about your company/brand in Social Media –  70,000,000 blogs discussing products & brands10

–  25% of Twitter’s users follow a brand on Twitter11

•  67% more likely to buy from that brand!12

•  79% more likely to recommend that brand!13

–  40% of Facebook’s users follow a brand on Facebook14

•  51% more likely to buy from that brand!15

•  60% more likely to recommend that brand!16


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•  Traditional advertising models are being turned on their heads –  78% of people trust peer recommendations17

–  14% of people trust company advertisements18

–  Shifting focus toward getting recommendations vs. broadcasting product attributes/benefits

•  It’s sheer size and reach can spread a negative message about your company/brand very quickly


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•  It’s where your customers are! •  Your competition is there too! •  Customers/prospects are talking about you there! •  It’s more powerful than traditional marketing! •  Bad news travels at warp speed there!


… and so does Good news! ∧

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Contents

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•  Facebook added 200MM users in < 1 year!19

•  Apple’s App Store reached 1 billion downloads, 8 months after launch!20

•  Groupon is on pace to reach $1 billion in revenue faster than any company… ever!21

•  Executives from all 2010 Fortune 500 companies belong to LinkedIn22

Social Media is Ramping Faster Than Anything… Ever!

•  Is your business leading or lagging behind your competition in its use of Social Media?

•  Do you even know?

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•  Smartphones + Tablets outsold PCs + Laptops in 201023

•  In < 2yrs, Gartner predicts Smartphones will exceed the entire installed base of PCs with 1.82 billion units worldwide24

•  Mobile users are 2x as active as Desktop users on Facebook25

•  In < 2yrs, Gartner predicts that smartphones will overtake PCs as the dominant web access device worldwide26

•  Shoppers purchased $2Billion in goods from eBay via mobile devices in 2010 and this figure is estimated to double to $4Billion in 2011!27

And Mobile is Right Behind It!

•  Do you have a mobile strategy? •  Does your mobile strategy account for this rapid growth? •  Do you have mobile versions of your business websites?

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Contents

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Social Media Pays Great Dividends

é Revenue Higher

converting referral

business

ê Cost Community-

based product support

é Loyalty* Strong brand loyalty & less

customer churn

Engaging Customers in Social Media Can Drive Substantial Business Value

* According to Bain & Company, a 5% increase in customer retention can increase a company’s profitability by 75%!28

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4 Key Steps to Harnessing Social Media to Grow Your Business

Web/Mobile

Presence Business

Goals

Social Media

Strategy

Social Media

Presence

1

2 3

4

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Step 1: Goals – Start with the End in Mind

Web/Mobile

Presence Business

Goals

Social Media

Strategy

Social Media

Presence

Focus Considerations

Social Media Team Cross-functional, empowered team True Social Media “Believers”

Objectives/Metrics Desired outcome? What does success look like?

Audience Who are you trying to reach? What’s their demographic makeup?

1

2 3

4

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Step 2: Strategy – Framing the Gameplan

Web/Mobile

Presence Business

Goals

Social Media

Strategy

Social Media

Presence


Location Where is your audience & how do they use SM?

Relationship What’s your relationship w/ this audience?

Roadmap How will you reach your goal?

Tools: http://forrester.com/empowered/tool_consumer.html - Social Technographics Profile tool: Provides insights on B2B & B2C audience use of Social Media (free)

1

2 3

4

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Step 3: Build Your Social Media Presence

Web/Mobile

Presence Business

Goals

Social Media

Strategy

Social Media

Presence


Location Establishing/optimizing “hub and spoke” system.

Content Optimizing content sources, mix, schedule.

Traction Tracking progress toward goals & adjusting execution.

Tools: http://bit.ly/ - Track click-throughs & referral sources (free)

Tools: http://www.tweetdeck.com/ - 1 tool to update Twitter, Facebook, LinkedIn, Foursquare, etc. (free)

Dominant Niche Sites Mass Media Sites

1

2 3

4

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Step 4: Build Your Web Presence

Web/Mobile

Presence Business

Goals

Social Media

Strategy

Social Media

Presence


Web User Experience: Fast, intuitive, and engaging.

Mobile User Experience: Above + mobile website!

Hub User Experience: “frictionless” learning, buying, and community features.

Tools: http://www.wibiya.com/ - “Social” toolbar offering Facebook, Twitter, YouTube integration w/ your website; No coding required. (free)

1

2 3

4

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Helps you realize your business strategy in a number of ways, including:

Social Media Drives Business Results

Generating qualified sales leads by: • Helping prospective customers find you, through use of targeted

keywords and search engine optimization (SEO) techniques • Clearly communicating your unique value proposition to prospective

customers through your social media profiles and website Increasing sales conversions by:

• Positioning you as the trusted, subject matter expert in your field • Establishing/cultivating trust-based relationships with prospective

customers & business partners • Getting high-conversion referrals from the above

Reducing operating costs by: • Building an engaged customer community that your customers can turn

to for solutions to common product issues – reducing calls to your customer service & technical support teams

Building customer loyalty by: • Engaging in conversations with customers in social media • Making them “feel heard” • Promptly incorporating their feedback into product or service

enhancements (free market research!!)

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Contents

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Erin Gerald Affiliates: Our Services TECHNOLOGY-ENABLED BUSINESS SOLUTIONS

Social Media User Experience Design

Web Development

Mobile Development

o Strategy o  Implementation o Training o Support o Maintenance

o Usage Context o UI Structure o Visual Design o Content Strategy o Sound Design

o eCommerce o eBusiness o Rich Media o Content

Management

o  iOS & Android o Smartphones o Tablets o Native Apps o Mobile Websites

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And Now For Our Raffle!

“It’s obvious that Erik Qualman’s passion is social media.” - Dan Heath, New York Times bestselling coauthor of Made to Stick and Switch

“People are hot for social media… Erik Qualman says it’s about listening first, then selling.” - Forbes

“Erik Qualman has been doing his homework on the social media phenomenon.” - The Huffington Post

“This is a must-read for anyone trying to leverage the social graph rather than be squashed by it.” - Steve Kaufer, CEO, TripAdvisor

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Wilson Toussaint Jr. is a Certified Social Media Strategist and a Senior Executive with over 20 years of management consulting and industry experience leading technology-based product development initiatives, many of which have produced 8 and 9-figure annual revenue streams. As a Senior IT Executive for a $1B Global Education Company, he led the implementation of a next-generation Internet-based test delivery platform that has generated over $980 million in revenue in its first 5 years of operation – an effort that won CIO Magazine’s Bold 100 Award in 2005. He is President and CEO of Erin Gerald Affiliates, a Technology and Social Media Consulting Firm that helps clients increase sales by using Social Media and the web to stimulate demand and convert prospective customers.

Thank You!

How To Reach Me Twitter: @wtoussaint Email: [email protected] Phone: 877.700.4EGA x302 Web: www.eringerald.com

If you enjoyed this presentation, please Tweet about it using hashtag “#EGA2011”!

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The Social Media Landscape is Broad and Dynamic…

WWW.THECONVERSATIONPRISM.COM

… So, focus on your business objective first, then identify the best tool/platform to achieve that objective.

Included under the Creative Commons Attribution License. See link for usage details: http://creativecommons.org/licenses/by-nc/3.0/

by Brian Solis & Jesse Thomas

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To Keep Up With Social Media Trends/News, I Recommend:

Resources

Web Twitter

www.mashable.com - arguably the top social media & emerging web technology news/info site. A great resource for news, trends, and analysis on these topics. 40 million pages views/month.

@mashable @mashbusiness @mashsocialmedia @mashablemobile

www.techcrunch.com - excellent resource for news, trends, and analysis on web and mobile technologies, startups, and products. 35 million page views/month.

@techcrunch

www.socialmediaexaminer.com - great source for social media analysis, research reports, and news – all focused on helping business use social media to increase sales and brand/company awareness.

@smexaminer

www.social-media.alltop.com - aggregates content from hundreds of sources and presents the latest news on social media (as well as 1,000 other topic areas).

@Alltop_Social

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•  Good Books on Social Media:

Resources, continued.

Title/Author Cover Socialnomics: How Social Media Transforms The Way We Live and Do Business, by Erik Qualman A great introduction to Social Media concepts, trends, case studies, and guidelines for effectively using social media to grow your business.

The Executive’s Guide to Enterprise Social Media Strategy: How Social Networks Are Radically Transforming Your Business, by David B. Thomas, Mike Barlow A solid guide outlining the market-facing and intra-company benefits of social media, from increasing revenue and brand loyalty to breaking down internal corporate silos and raising internal productivity/efficiency.

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1.  Source: Wikipedia http://en.wikipedia.org/wiki/Social_media 2.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends Presentation, Slide

12 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-2011 3.  Source: Wikipedia http://en.wikipedia.org/wiki/Twitter 4.  Source: Erik Qualman, 5/2010 Social Media Revolution Video,

http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/ 5.  Source: LinkedIn http://press.linkedin.com/about/ 6.  Source: YouTube http://www.youtube.com/t/press_statistics

7.  Source: Merchant Circle http://blog.merchantcircle.com/2011/02/q1-2011-merchant-circle-mci-survey.html 8.  Source: FourSquare https://foursquare.com/about 9.  Source: LinkedIn http://press.linkedin.com/about/ 10.  Source: Erik Qualman, 5/2010 Social Media Revolution Video,

http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/

11.  Source: Digital Surgeons http://www.digitalsurgeons.com/facebook-vs-twitter-infographic/ 12.  Source: Chadwick Martin Bailey and iModerate Research Technologies

http://www.imoderate.com/main/newsID/50/do/press_release_Detail 13.  Source: Chadwick Martin Bailey and iModerate Research Technologies

http://www.imoderate.com/main/newsID/50/do/press_release_Detail

14.  Source: Digital Surgeons http://www.digitalsurgeons.com/facebook-vs-twitter-infographic/ 15.  Source: Chadwick Martin Bailey and iModerate Research Technologies

http://www.imoderate.com/main/newsID/50/do/press_release_Detail 16.  Source: Chadwick Martin Bailey and iModerate Research Technologies

http://www.imoderate.com/main/newsID/50/do/press_release_Detail

References

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17.  Source: Erik Qualman, 5/2010 Social Media Revolution Video, http://www.socialnomics.net/2010/05/05/social-media-revolution-2-refresh/



20.  Source: Wikipedia http://en.wikipedia.org/wiki/Apple_App_Store 21.  Source: Wikipedia http://en.wikipedia.org/wiki/Groupon 22.  Source: LinkedIn http://press.linkedin.com/about/ 23.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends

Presentation, Slide 7 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-2011 24.  Source: Gartner

http://www.fiercemobilecontent.com/story/gartner-forecasts-mobile-web-access-will-surpass-pcs-2013/2010-01-13 25.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends

Presentation, Slide 21 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-2011 26.  Source: Gartner

http://www.fiercemobilecontent.com/story/gartner-forecasts-mobile-web-access-will-surpass-pcs-2013/2010-01-13 27.  Source: Matt Murphy and Mary Meeker, Kleiner Perkins Caufield & Byers, 2/10/11 Top Mobile Internet Trends

Presentation, Slide 36 http://www.slideshare.net/kleinerperkins/kpcb-top-10-mobile-trends-feb-2011 28.  Source: Bain & Company http://www.bain.com/bainweb/Consulting_Expertise/capabilities_detail.asp?capID=102

References

social media: the power to move business forward

Technology

erin gerald smartphones

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business qa copyright

business qacopyright

twitters users

desktop users