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Social Media Marketing. Market News: Cell Phone Tracking. Since 1990 providers have been able to track cell phones, but recently they have been integrating data for data mining Some providers can track when and where you go, what businesses you frequent, phone numbers called, language, etc.
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Market News: Cell Phone Tracking • Since 1990 providers have been able to track cell phones, but recently they have been integrating data for data mining • Some providers can track when and where you go, what businesses you frequent, phone numbers called, language, etc. • One user was monitored every 7 minutes and over a month was profiled for 37,000 locations • Disclosure of collecting and use of that data is nor required at this time– you are not informed • For $6/mo parents can track teens regarding where they say and actually go. • Police can use the triangulation for emergency calls Exodus on Social Media
Quick survey… • How many have cell phones? How many times a day do you use them? • Do you have a page on Facebook, Twitter, Linked In or other social media? How often do you log in/check it? What are your uses for it? • What locations do you go to where the provider uses suggestive selling based on your previous purchases? • How much does word of mouth on social media influence you? • Do you have concerns about customer profiling– why?
Why companies should get involved with social media • Based on 17,000 internet users in 29 countries, 34% post opinions about products and 36% think more positively about companies that have blogs • In 2008 traffic increased on Blogger and Wordpress 44% & 50% respectively, while it only went up 17% on CNN, MSNBC, and the New York Times • 70 per cent of consumers have visited social media sites to get information • 49 per cent of these consumers made a purchase decision based on the information they found through social media sites • 60 per cent of people in the study said they are likely to use social media sites to pass along information to other online; 68% view sites before a purchase even when it is local. • 45 per cent of people who searched for information via social media sites engaged in word of mouth compared to 36 per cent who found information on a company or news site Fisher, T. (2009). ROI in social media: A look at the arguments. Database Marketing and Customer Strategy Management, 16(3), 189-195
Innovations in Education 18 yrs 50 yrs 5 yrs Kindergarten Driver training Modern Math 1970 1910 1920 1930 1940 1950 1960 What do you notice about these trends?
100% 3.1 yrs Innovation decision period Rate of awareness knowledge 75% 2.7 yrs Cumulative % of farmers Rate of adoption 50% 2.2 yrs 25% 1.7 yrs 0% 1944 1946 1948 1950 1952 1954 1956 Rate of awareness-knowledge, rate of adoption, and length of the innovation-decision period for Iowa farmers adopting 2,4-D weed spray by year
Categories of Adaptors to Innovations • General trends for early adopters: • Higher education, literacy, intelligence, achievement, aspirations • Higher SES, occupational status, social mobility, income • Greater empathy, flexibility, social participation, media exposure • Opinion leadership, well-integrated with system
Revolutionaries • More advanced in their understanding and execution of social media marketing initiatives • Nearly five times as many Revolutionaries are already implementing social media in their organizations. • 81% of Revolutionaries agree it would grow in significance over the next five years • Focus more on listening to consumer and bloggers’ points-of-view. • ”Wait-and-Sees” • Just 33% of the Wait-and-Sees agreed social media would grow in significance • Three times as many Wait-and-See companies are only at the learning stage • Put more emphasis on using social media for new types of marketing campaigns such as viral marketing and videos • Both Revolutionaries (95%) and most Wait-and-Sees (60%) are eager to connect with other colleagues to study consumer feedback and learn from it.
Evolution of Online Marketing 4 Cs of Social Velocity: Content, Connections, Community and Conversion “Social Velocity” Viral marketing If I providevalue, mybusiness will succeed “SEO” Search Engine Optimization “Pay Per Click” If I providevalue, mybusiness will succeed Need to get Online! “Need toget on Twitter”
At least two in three participants found that increased traffic occurred with as little as 6 hours a week invested in social media marketing, while those who have been doing this for years reported better results. Owners of small businesses (2 - 100 employees) are more likely than others to report benefits. http://www.marketingcharts.com/interactive/marketers-top-social-media-twitter-blogs-linkedin-facebook-8692/social-media-industry-report-benefits-marketing-stelzner-march-2009jpg/
Selling soap– Viral marketing • Viral commercials • Viral marketing– expert tips (8:44) • Social Media Marketing Industry Report (pdf)
Content Created Twitter user posts story on their Facebook status Story/content hits Digg’sfrontpage Tweet about story/ content to followers Major blog sees story on Digg’sfrontpage, link to post about it Different friends share it with their friends Several followers retweet to their followers Digg user submits story to Reddit, makes front page Smaller blogs see story on larger blogs. They post about it Story gets retweeted all over twitter Stumbleupon users vote up story from their Stumble toolbar, makes front page of Stumbleupon.com Google Engine Result for Story/Topic Your site(due to all the inbound links) Major blog #1 (w/link to your site) Digg story (linking to your site Blog #2 (w/link to your site) Tweet (linking to your site) And so on… If content is great can end up features on sites like:
Which Factors Have Presented the Most Significant Barriers to Social Media Adoption for Your Organization or Client? http://www.marketingsherpa.com/1news/chartofweek-02-03-09-lp.htm
Your Business & Social Media • Does your business currently use any form of social media for marketing? If so, what is it and how is it used? • Do you think that it would be advantageous for your business to use social media [more]? Why? • If you were going to build a case for your business to use or extend social media, how would you argue for it? What critical points would you make? • What metrics might be useful to monitor? What would a dashboard look like? 22 Social Media Marketing Tips
Social Media Metrics • Social media sites : Unique Visitors, Cost per unique visitor, Page views, Visits, Return Visits, Interaction rate, Time spent, Video installs, Relevant actions taken. • Blogs : Conversation size (number of sites, links and reach of a conversation whose content includes conversation phrases relevant to the client), Site relevance (Conversation density, Author credibility, Content freshness and relevance). • Widgets and Social Media Applications: Installs (number of applications), Active Users, Audience Profile, Unique User Reach, Growth, Influence, Installs (number installed per user). • activity (web Analytics of blog or site); • tone (sentiment); • velocity (spread over time, URLs, trackbacks); • attention (duration on site); • participation (comments, trackbacks); • many qualitative attributes (comments, what did they say, what did they mean).
Who, how and where are people interacting with our content Degree of exposure to content & message Degree to which exposure affects perceptions & attitudes As a result, what actions are taken • Number of hits or visits • Number of unique visitors • Comment tonality • Search engine rank • Message inclusion • Share of online discussion • Net positive comments • Click throughs • View throughs • Repeat visitors, recommendors • Duration • Subscribe to feeds/links • Article/post readership • Comments/post ration • Message recall & retention • Purchase considerations • Change in awareness • Change in attitudes • Association with the brand • Likelihood to recommend to a friend or Net Promoter Index • Visit the store • Attend the event • Tell a friend • Buy the product • Contact a politician • Vote for/against legislation
Team discussion • To what extent does your business currently use social media for marketing in some way? • What benefit do you think social marketing could benefit your company? • What would it look like if you could implement the idea?
