Social Networking:Making the Most of Web 2.0 Bill Tyson CEO, Strategic Marketing Plus, LLC http://www.thesavvystrategist.com
Web 2.0: The 5th P of Marketing • Always on, 24 by 7 • 3 Drivers: • People’s desire to connect • New and improved interactive technologies • Online economics • Great tool to amplify messages and campaigns. • A few revenue models are emerging: Ad $s are shifting from Google and Yahoo to Facebook.
Types of Social Media • Blogging • RSS Feeds • Podcasting • Texting • E-Cards • Photos (flickr.com) • Videos (youtube.com) • Publishing • Social Networking • LinkedIn • Facebook • Twitter • Google Plus • You Tube • Skype • High5 • MySpace
There are 7 Categories of Social Media…. But 4 Networking Sites Stand Out along with
The Power of A Link* • Social capital - “a sociological concept used to refer to connections within and between social networks.” • “Swiss Army Knife” - like features: • Advanced Search – because of the accuracy of profile information (if you lie about anything your peers, colleagues will out you), it is more powerful than Google search. • Groups– these community-of-interest-networks go beyond discussions and job postings enabling relationship building around common interests. • Information Sharing – through the use of “social objects” – newsworthy items, not authored by you, that you can share rapidly with those you know will find it relevant. • Paying it forward – meaning the collective interest everyone in LinkedIn has to make useful introductions for member in their network. • Mapping your network – for the first time in history, you can actually map most of your network. See http://inmaps.linkedinlabs.com. * The Power in a Link: Open Doors, Close Deals, and Change the Way You Do Business Using LinkedIn, by David Gowel, John Wiley & Sons Hoboken, NJ 2011
Why Blog? • From 2009 to 2011 the percentage of businesses with a blog grew from 48% to 65%. • Eighty-five percent of businesses rated their company blogs as “useful,” “important” or “critical.” • The average budget spent on company blogs and social media increased from 9% in 2009 to 17% in 2011. Source: http://www.forbes.com/sites/kenmakovsky/2012/05/14/why-should-companies-blog/
My Experience As a Blogger • Demonstrate Subject Matter Expertise • Enhancing visibility • Building credibility and trust • Establishing industry expertise • Thought Leadership around challenges and important issues • Resourceful: Sharing valuable research • Generating leads … and business!
How Social Media Applies to Insurance Humanizes the company Another communication channel – The 5th P = Participation Amplification of marketing/PR Customer feedback – the good, the bad and the ugly Immediate indication and feedback on new products and campaigns Self-promotion Defend your company (or brand) against critics There is a recognition in the industry that Social networking is here to stay!