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USING SOCIAL MEDIA TO CONNECT WITH CUSTOMERS

USING SOCIAL MEDIA TO CONNECT WITH CUSTOMERS. Professor Chip Besio Cox School of Business. CONNECTING WITH TODAY ’ S COLLEGE STUDENTS USING FACEBOOK AND TWITTER. Information sources college students prefer to use to buy products and services. UNDERSTANDING SOCIAL MEDIA WHAT ARE SOCIAL MEDIA?.

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USING SOCIAL MEDIA TO CONNECT WITH CUSTOMERS

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  1. USING SOCIAL MEDIA TO CONNECT WITH CUSTOMERS Professor Chip Besio Cox School of Business

  2. CONNECTING WITH TODAY’S COLLEGE STUDENTS USING FACEBOOK AND TWITTER

  3. Information sources college students prefer to use to buy products and services

  4. UNDERSTANDING SOCIAL MEDIA WHAT ARE SOCIAL MEDIA? • How Social Media Came About • Web 2.0 • Blog • User Generated Content (UGC) • Defining Social Media

  5. Social media classified by media richness and self-disclosure

  6. UNDERSTANDING SOCIAL MEDIA COMPARING SOCIAL AND TRADITIONAL MEDIA • Ability to Reach Both Large and Niche Audiences • Expense and Access • Training and Number of People Involved • Time to Delivery • Permanence • Credibility and Social Authority

  7. FOUR IMPORTANT SOCIAL NETWORKSFACEBOOK • Total Facebook Users – 1.15 billion • Daily Facebook users – 669 million • Daily Active Users in U.S. – 128 million • Average Number of Facebook Posts/Month– 36 million • Average Monthly Facebook Mobile Users – 619 million • Total Number of Facebook Photos – 240 Billion • Average Number of Daily Photo Uploades – 350 Million • Average Time Spent on Facebook/ User – 8.5 Hours • Average Total Time Spent on Facebook Daily – 20 Billion Minutes • Percent of Users That Log In Daily – 76% • Facebook: An Overview

  8. FOUR IMPORTANT SOCIAL NETWORKSFACEBOOK Global Reach of Facebook Monthly

  9. FOUR IMPORTANT SOCIAL NETWORKS FACEBOOK • Facebook: An Overview • Facebook in a Brand Manager’s Strategy • Make It Familiar, But with a Twist • Leverage Your Assets • Keep It Fresh • Let Users Get Engaged and Guide Content

  10. The Facebook Profile Page for Bitter Girls

  11. How brand managers can use four social networks in developing their marketing strategies

  12. FOUR IMPORTANT SOCIAL NETWORKSTWITTER • Total Twitter Users – 555 million • Daily New Twitter Users – 135 thousand • Monthly Active Users– 115 million • Average Number of Twitter Tweets/Day– 58 million • Total Number of Search Engine Queries/Day– 2.1 Billion • Average Number of Tweets/Second– 9,100 • Average Time Spent Monthly – 170 Minutes • Number of Days it Takes to Reach 1 Billion Tweets – 5 Days • Percent of Users That Use Phone to Tweet– 43% • Percent of Users That Don’t Tweet Just Watch– 40% • Country with the Most Twitter Users – China -35.5 Million • Twitter: An Overview

  13. FOUR IMPORTANT SOCIAL NETWORKS TWITTER • Twitter: An Overview • Twitter in a Brand Manager’s Strategy • Generate Brand Buzz • Follow the Twitter Profiles • Respond to User Criticism • Tweet on Topics of Interest to Consumers

  14. FOUR IMPORTANT SOCIAL NETWORKS LINKEDIN • LinkedIn: An Overview • LinkedIn in a Brand Manager’s Strategy • Make Connections • Find Jobs and Business Opportunities • Review Profiles • Enable Advertisers to Reach People

  15. FOUR IMPORTANT SOCIAL NETWORKSLINKEDIN • Currently 225 million members • 19 Languages, 64% of members are outside the US • 2011 Introduced “LinkedIn Today” a daily news source • Influencer program includes Jack Welch, Martha Stewart, Sallie Krawcheck (Bank of America) • Monthly users 141million worldwide up 37% over 2012 (Comscore) • Average time spent/month – 20.6 minutes • 20 channels allow members to track Influencer posts and news stories • 88 of Fortune 100 companies use LinkedIn’s HR software to find and track job candidates • An updated LinkedIn profile is more valuable for a job-seeker than a resume in 2013 • Newer features include “people you may know” and “endorsements” • LinkedIn apps – CardMunch • Recruiting software = 55% of 2012 revenue • Advertising = 27% $258 million in 2012

  16. FOUR IMPORTANT SOCIAL NETWORKSLINKEDIN LinkedIn Users’ Industries

  17. FOUR IMPORTANT SOCIAL NETWORKS YOUTUBE • YouTube: An Overview 132.8 million unique viewers/ month 31.7 billion minutes/month • YouTube in a Brand Manager’s Strategy • Create a Channel Rich in Key Words • Use YouTube Analytics to Target Viewers • Remember That Money Matters

  18. FOUR IMPORTANT SOCIAL NETWORKSYOUTUBE • Timeline: • April 2005 – 1st video uploaded • October 2006 – Google buys for $1.65 billion • September 2008 – “Evolution of Dance” first video with 100 million views • October 2009 – site hits 1 billion views per day and live stream U2 concert • December 2010 – launch of “True View” video ads • December 2010 – “Bed Intruder Song” top video • October 2011 – You Tube to fund 100 new original channels $100 million • November 2011 – 20,000 questions submitted for GOP Presidential Debate • November 2012 – You Tube Space LA opens • December 2012 - Psy’s “Gangnam Style” most watched video • March 2013 – “Sesame Street” channel hits 100 million views, You Tube reaches 1 billion monthly viewers • May 2013 – You Tube celebrates eight birthday and announces 100 hours of video uploaded every minute (5/19/13)

  19. FOUR IMPORTANT SOCIAL NETWORKSYOUTUBE • Dreamworks paid $35 million to own • 100,000 subscribers in 1st month • 25,000 You Tube channels • Google - $35mm • Time Warner - $36mm • Machinima - #1gamers network in the world • 23,697 videos A Barclays report estimates You Tube Revenue at $3.6 billion and values You Tube between $15.6 and $21.3 billion

  20. MARKETING MATTERSWhat Are Some of Your OtherFavorite Social Networks? Stumble Upon Foursquare Hi5

  21. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIESSOCIAL MEDIA & THE STRATEGIC MARKETING PROCESS • Traditional Media: Passive Receivers • Social Media: ActiveReceivers Influentials Delighted Evangelists

  22. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIESSELECTING THE SOCIAL NETWORK • Recent Growth of the 4 Social Networks • Audience Data for Social Networks • Specialized Focus for Social Networks • Ning • YouTube • Vimeo

  23. The demographic characteristics of U.S. visitors to Facebook in late 2012

  24. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIESHOW SOCIAL MEDIA PRODUCE SALES • Facebook Ad Platform: Role of a Brand Manager • Facebook Ad Platform: Role of Facebook

  25. Performance measures for social networks linked mainly to inputs or costs, as seen by a brand manager

  26. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIESMEASURING SOCIAL MEDIA PROGRAM RESULTS • Performance MeasuresLinked to Outputs or Revenues • Average Page Viewsper Visitors • Fans • Share of Voice • Interaction Rate • Page Views • Click-Through Rate • Visitors • Fan Source • Unique Visitors

  27. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIESGREENPEACE VS. NESTLÉ’S KIT KAT • The Background • Greenpeaces’ Actions and Results • Nestle’s Overreaction and Its Effects

  28. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIESGREENPEACE VS. NESTLÉ’S KIT KAT • Social Media Lessons for Brand Managers • Communicate with Key Influencers • Respond Swiftly • Communicate through Social Media • Listen for Feedback to Recover Brand

  29. THE FUTURE: SOCIAL MEDIA +SMARTPHONES + EXOTIC APPSTHE CONVERGENCE OF REAL & DIGITAL WORLDS • The Convergence • The Devices • Apps

  30. MARKETING MATTERSWhat Are Some of Your Favorite Mobile Social Networks? Word Lens

  31. An array of diverse elements leads to a convergence of the real and digital worlds that trigger marketing actions

  32. THE FUTURE: SOCIAL MEDIA +SMARTPHONES + EXOTIC APPSCONVERGENCE LINKS SOCIAL MEDIA TO MARKETING ACTIONS • Price-Comparison Searches • Loyalty Programs • Location-Based Promotions

  33. THE FUTURE: SOCIAL MEDIA +SMARTPHONES + EXOTIC APPSWHERE TO NOW? • Personalization of Social Media Connections • Explosion of Devices and Apps • Socially-Networked Communities • Generation of Advertising Income • Measurement of Social Media ROI

  34. THE FUTURE: SOCIAL MEDIA +SMARTPHONES + EXOTIC APPSTHE GLOBAL REACH OF SOCIAL MEDIA • Social Media and Global Marketing • Social Media and International Affairs

  35. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIES

  36. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIES

  37. INTEGRATING SOCIAL MEDIA INTOTODAY’S MARKETING STRATEGIES

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