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How to Leverage Social Media to Generate Revenue
The document outlines strategies for leveraging social media to generate revenue by transitioning from traditional outbound marketing to inbound marketing through various platforms. It emphasizes the importance of defining goals, understanding the audience, and utilizing social media management tools for effective execution and measurement. Additionally, it highlights the benefits of specific platforms like Twitter, Facebook, LinkedIn, YouTube, and SlideShare in building brand awareness, generating leads, and improving customer relationships.
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How to Leverage Social Media to Generate Revenue
- 1. HOW TO LEVERAGESOCIAL MEDIA TO GENERATE REVENUE
- 2. TABLE OF CONTENTSWHY SOCIAL MEDIA? EXECUTING YOUR PLAN CHOOSE YOUR CHANNELS PARTICIPATE MEASURING REVENUE
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- 4. How Marketing ischanging… OLD: OUTBOUND MARKETING Telemarketing Direct Mail TV/Radio Print Ads
- 5. How Marketing ischanging… NEW: INBOUND MARKETING Blogs Social Media channels Search (SEO & SEM) RSS & Email Subscriptions
- 6. INBOUND MARKETING = being found by those looking for your products or services
- 7. Why Use SocialMedia?
- 8. Why Use SocialMedia? Your audience is there Cost efficient Vast reach Increase interaction frequency Receive real-time feedback Establish your social media real-estate Gain competitive intelligence Better understand your audience Help your audience It’s fun
- 9. 93% of Americans believe a company should have a social media presence
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- 11. Social Media BenefitsIncrease brand awareness Create and cultivate relationships Identify prospects Generate leads Client/customer retention Reduce marketing spend Generate inbound traffic Search engine optimization Build reputation and credibility Gain competitive advantage
- 12. 73.8% say social media has helped them close business
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- 14. Define your GoalsBefore you get started, define the goals for your business or organization: Awareness Lead Generation Increase Sales Customer Retention Customer Service/Support HR/Hiring Event Marketing Feedback (Focus Group/Crowdsourcing)
- 15. Start with aPlan
- 16. Start with aPlan Get the right people involved Identify and Coordinate Resources Channel Management Time Content Production Response Routing Fulfillment Identify how you plan to measure success Create your Strategy Obtain internal approval/support Marketing/PR Customer Service/Support IT/Web Developers Senior Management
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- 18. Define Your AudienceNiche groups Channels they use Business Setting/Company Roles/Positions Demographics Psychographics Location Current relationship
- 19. Create Guidelines andSchedules
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- 21. Guiding Principles Alignwith business goals Be human - use a personal voice Be authentic - stay true to your brand, admit mistakes, say thank you Learn through action Share - the point of social media is sharing (ideas, information, expertise) Add value Build trust (don’t pitch, just help) Have fun
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- 23. Listen What isbeing said? Who is saying it? Where are they saying it? Is it positive or negative? How much reach or impact does it have?
- 24. Listen What tolisten for: Company or brand name Product or service names/terms Names of executives or top talent Competitors rand names Competitor product/service names Industry keywords/phrases
- 25. Listening/Monitoring Tools FREETOOLS: Google Alerts (google.com/alerts) Social Mention (socialmention.com) Twitter search (search.twitter.com) Tip: subscribe to a Twitter search result or Social Mention alert via RSS
- 26. Listening/Monitoring Tools ENTRY-LEVELTOOLS: Trackur (trackur.com) ViralHeat (viralheat.com) Sysomos Heartbeat (sysomos.com) UberVU (ubervu.com)
- 27. Listening/Monitoring Tools SOPHISTICATEDTOOLS: Radian6 (radian6.com) Sysomos (sysomos.com) LIthium (lithium.com) Alterian SM2 (alterian.com)
- 28. Social Media ManagementSystems (SMMS) WHAT IS AN SMMS? A SMMS is a tool that allows you to manage, monitor and measure your social media activity in one place. A SMMS can help you: Publish content to multiple social channels Schedule and automate content delivery Monitor and review social media activity Manage internal resources/workflow Manage resource permissions Review metrics and reporting SMMS OPTIONS: HootSuite (hootsuite.com) Argyle Social (argylesocial.com) Spredfast (spreadfast.com) Awareness Social Marketing Hub (awarenessnetworks.com)
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- 33. Blogs Blogs arewidely considered the cornerstone of all social marketing efforts. Nearly all of your social media efforts will point back to your blog.
- 34. Blogs BENEFITS: Generateawareness Establish brand and thought leadership Engage your audience Share content Generate qualified leads Customer retention Search engine optimization
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- 39. Twitter STATS :200 million registered users 65 million tweets per day 75% of traffic sourcing from outside applications Adding 300,000 new users daily 93% of social media marketers are using Twitter 85% of large businesses will be increasing their Twitter activities 87% of Americans familiar with Twitter in 2011, up from 5% in 2008
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- 41. Twitter BENEFITS: Establishyourself as a thought leader Frequently engage your audience Meet like-minded professionals Find your audience with Twitter search Create buzz Search engine optimization http://search.twitter.com/advanced
- 42. Twitter GENERATE REVENUE:Gain competitive intelligence Generate leads Market products, services (offers, product launches, etc.) Great for event marketing IBM used Twitter to generate 40% of their event registration goals within 72 hours.
- 43. Facebook STATS :175 million people visit Facebook every day Facebook tops Google for weekly traffic in the US If it were a country, it would be third largest in the world (only behind China & India) 85.4% of large businesses plan on increasing Facebook activity 1/3 of all Facebook users are in the US The average user has 130 friends
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- 46. Facebook BENEFITS :Huge, dedicated audience that checks in regularly When content goes viral it has significant reach Confirm your key audience Great environment to build your brand Easy channel for feedback (likes) and conversation (comments)
- 47. Facebook GENERATE REVENUE:Strengthen customer relationships Identify Influencers Generate Opt-ins Generate Sales Average value of a fan is $3.60
- 48. Linkedin STATS :Over 100 million professionals 50% are business decision makers 7.8% are C-Level Executives, 6.5% are EVP/SVP Average age of 41, HHI of $110k 80% College Grad/Post Grad
- 49. Linkedin BENEFITS :Professional, educated audience Resource for recruiting, talent acquisition Updates from other channels (Twitter, Blogs, Slideshare, etc.) posted to your network
- 50. Linkedin GENERATE REVENUE: Take advantage of Groups- create and participate Identify prospects within groups Find prospects through search, people you may know and connections Follow companies (track your competition) Ask questions in Answers area
- 51. YouTube STATS :Over 20 hours of video uploaded every minute 135 million viewers watched 13.1 billion YouTube videos in March 2010 (96 videos/viewer) 84.8% of total U.S. Internet audience watch online video YouTube generates 90% of online video consumption YouTube Search is the world’s 2nd largest search engine 73% of marketers plan on increasing YouTube/video marketing
- 52. YouTube BENEFITS :Video is engaging and averages longer interaction than other media Video content is easily sharable YouTube offers great statistical data on video effectiveness Video meta data is great for SEO (Google owns YouTube) Channels allow you to create a network and easily share video content with them
- 53. GENERATE REVENUE :Increase exposure of brand/products/services Generate leads: Demonstrate products and services with videos, link to your site Speed up sales cycle: enrich sales content with YouTube videos Accept direct ads on your YouTube content YouTube
- 54. Slideshare Slideshare isthe world’s largest community for sharing presentations, documents and PDF files. BENEFITS: 25 million unique visitors 70 million page views/month 62% college degree, 19% masters or PhD Presentations can be embedded on your site/blog Options for sharing privately Join groups to share based on interests
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- 56. Create Conversation andEngage
- 57. Create Conversation andEngage What to share via social media: Content that will benefit your contacts (blog posts, videos, webinars, etc.) Unique industry news and information Your thoughts/positions on relevant industry content Responses to others sharing relevant information Questions that other experts can answer Talk about yourself/your business less than 10% of the time (press releases, company news, product/service announcements, etc.)
- 58. Maintain Your ChannelsBe Original Be Helpful Be Passionate Be Respectful Be a Motivator Be a Leader
- 59. What Not ToDo DON’T only talk about yourself/your business DON’T oversell DON’T force it DON’T be inconsistent in approach or timing DON’T do anything that doesn’t help achieve goals
- 60. Marketing Your SocialMedia Channels Add your social media channels to your online and offline communications/collateral Emails Web Site Direct Mail Ad Units Packaging Business Cards Print Ads Radio/TV
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- 64. MEASURE: Awareness Socialmentions Fans/followers/friends Web site traffic Search rankings Reach
- 65. MEASURE: Lead GenerationOpt-Ins/database growth Offer redemptions Repeat visits Inquiries
- 66. MEASURE: Retention Increasein positive sentiment Increase in feedback (comments, mentions, etc.) Decrease in churn rate Reduction in support channels
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- 68. These things donot make you money: Visits Impressions Comments Mentions Number of followers Number of likes Re-tweets Click-throughs
- 69. MEASURE: ROI SEOimprovements generated additional web traffic Generated 250 leads via whitepaper download Blogging ROI Social Medium 20% increase in service inquiries 50 new opt-ins Slideshare 50 product sales originated from YouTube.com Generated 100 new opt-ins YouTube Reduced costs of talent acquisition by 50% Helped find targeted audience at $0 cost LinkedIn Webinar attendance up 20% Event sold-out due to 150 Facebook fans signing up Facebook 10% of new web sales attributed to site traffic from Twitter click-throughs Customer Service calls down by 20% Twitter
- 70. MEASURE: ROI 84% of social media professionals DO NOT measure ROI
- 71. THE ROI EQUATIONROI = SM return - SM cost SM cost
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- 73. HOW MASS TRANSMITCAN HELP Mass Transmit - multi-channel Internet marketing agency Email Transmit - email service provider (ESP) Group Transmit - social sharing application @MassTransmit @EmailTransmit Facebook.com/MassTransmit LinkedIn.com/companies/Mass-Transmit
- 74. PRESENTATION A copyof this presentation can be viewed or downloaded at Slideshare: http://slideshare.net/ masstransmit
- 75. THANK YOU AdamQ. Holden-Bache 8701 Mallard Creek Dr. Charlotte, NC 28262 704-706-2670 x200 [email_address] Twitter: @adamholdenbache
Editor's Notes
- #11 Better understand your audience Decrease the duration of the sales cycle
- #12 Better understand your audience Decrease the duration of the sales cycle
- #13 85% of all marketers say social media has generated exposure for their business More than half say social media has generated qualified leads 53.1% reported new business partnerships due to social media 73% cite improved search engine rankings due to social media 56% of users feel a stronger connection with companies they interact with through social media