SLS Social Media Presentation HiRes
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social media understanding its marketing potential
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Social Media: Understanding Its Marketing Potential.
Transcript of SLS Social Media Presentation HiRes
social mediaunderstanding its marketing potential
What is social media?
Social Media is people, including your customers,
having conversations online.
The conversations are powered by:
Networking • ConversationsInformation Sharing • Conversations
Sharing Video • Education
Networking
Conversations • Sharing Information
Information
Information
Information
Entertainment
Sharing Photos • Education
Information • Join Communities of Interest
Live Streaming Video • Education
Business Information Resource
Mobile Conversation • Information
This is not a fad
It is a fundamental shift in the way we communicate
Who uses social media? Your customers fit one of the following categories:
Influencers
Non-influencers
Creators
Critics
Collectors
Joiners
Spectators
Inactives
regularly publish blogs or articles, maintain a web page, upload videos or music.
react to other content online, post comments, post ratingsor reviews.
save URLs and tags, vote for sites. Collections appear on general information sites.
participate in or maintain profiles on social networking sites.
consume what the rest produce—blogs, online videos, podcasts, forums, and reviews.
non-participants in social media.
Harvard Business Press, Groundswell, Charlene Li and Josh Bernoff, © 2008
How big is the playing field?
Online social communities—currently 400 million users1
Consumer to consumer sellers—$8.541 billion in 20082
Ratings and review sites—44,000,000 page views per month3
Video sharing—YouTube currently has 100,000,000 videos3
Blogs—currently 200,000,0003
Micro-blogging— Twitter has 17,000,000 users3
1Inside Facebook, December Data on Facebook’s US Growth by Age and Gender: Beyond 100 Million, January 4, 2010, 2Wikipedia, 3Nielsen Report, Oct. 2007
A RADICAL CHANGE has occured
in the world of MARKETING
and ADVERTISING
Consumers are not
listening anymore.
Interruptive Marketing has
seen its day.
The old communication model was a MONOLOGUE:
SHOUTING
The new communication is a DIALOG:
Now marketers are having conversations with consumers
as well as consumers having conversations
with each other
Who are your customers?
Where do they go for information?
Meet them there.
PARTICIPATE.
Why is this meaningful?
The average person is exposed to 3,000
ad messages a day*
Only 14% of people trust advertisements*
*Nielsen Report, October 2007
Yet 78% of people trust the recommendations of friends or other consumers*
*Nielsen Report, October 2007
Why is this happening?
Three elements combined:
People
Technology
Economics
1.
2.
3.
People: They desire to connect
*Alexa.com, February 2010
1.
Facebook is ranked number two of the top 500 web sites worldwide*
YouTube, and MySpace are ranked fourth and sixth respectively on the list of top 500 sites in the U.S.*
1.67 billion people use the Internet 63% of all Americans have a high-speed Internet connection 84% of consumers rely on the web to get current news or information
*Razorfish, FEED: The Razorfish Digital Brand Experience Report, 2009, October 2009
2.Technology:Everyone is online
76% watch online videos
73% visit social media sites
62% listen to music online
More than 2 billion apps have been downloaded from Apple’s iTunes
*Razorfish, FEED: The Razorfish Digital Brand Experience Report, 2009, October 2009
2.Technology:Everyone is online
65% of consumers say they have had a digital experience that has either positively or negatively changed their opinion of a brand.*
*Razorfish, FEED: The Razorfish Digital Brand Experience Report, 2009, October 2009
3. Economics:Advertising is shifting from traditional media to online
Why should you care?
People are talking with each other about your brand and it may vary from your company’s idea
Retailers no longer have a corner on the market, consumers are buying from each other
The balance of power has shifted
What should you do?
Get involved.
Social media adoption by small businesses has doubled in the last 12 months.*
*Network Solutions, LLC
Small businesses use social media to attract new customers:
• 75% have a company page on a social networking site
• 61% use social media for identifying and attracting new customers
• 45% expect social media to be profitable in the next 12 months
*Network Solutions, LLC
Building an online presence is a key focus:
• Improvements to company web sites area top technology investment in the next two years
• The ability to showcase their productsand services online to attract new customers is second in the hierarchy of technology investments
*Network Solutions, LLC
Next steps?
Jump in and try it out!
Listen
Participate
Engage
How do you accomplish this?
Street Level Studio can help you: • Examine who your customers are and
how they get information
• Determine your goals
• Develop a unique social media strategy for your company
• Pair up with the right technologies
let’s talkStreet Level Studiois ready to drive your marketingcommunications to the next level.
T 847 432 5150 E [email protected]
social mediaunderstanding its marketing potential
