5 Things Social Media Marketing Is Not Miriam Schwab June 2009
Social Media for Schwab Advisors
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Transcript of Social Media for Schwab Advisors
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The views of third-party speakers and their materials distributed are their own and do not necessarily represent the views of Charles Schwab & Co., (“Schwab”). Third party speakers are not affiliated with Schwab. Schwab Institutional is a division of Schwab. ©Charles Schwab & Co., Inc. Member SIPC.
Exploring The Social Networking and Media Landscape
John Stone III Revenue Architects, LLC
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Today’s Discussion
What is the Social Media opportunity? Tools of the Trade
• Using Social Media to support your marketing efforts
Regulatory and Compliance Considerations
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New Media: The Opportunity
Expand awareness: Social Media allows you to extend your online presence and increase awareness
Enhance your credibility: Within compliance constraints, you can take advantage of these newer “outposts” and engage audiences across the social web
Drive traffic your way: With social media presence, your own web site will benefit from inbound links and search engine page ranking
Convert opportunities: With a thoughtful plan and a consistent commitment to social media engagement, you can nurture prospects into new clients
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Where is the Value?
Aware
Interested
Considering
Evaluating
Committed
Customer
Advocate
Developing initial perceptions…
1
.. Considering alternatives…
2
.. responding to relationship and dialog…
3
…becoming advocates for you.
4
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Today's New Media Ecosystem
Social media represents the fastest growing segment of the Web
This growing phenomenon is creating a new generation of “brand influencers”
Every second 2 new blogs are created
1,500 new “Tweets” occur
1,157 videos are viewed on YouTube
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An Architecture of Participation
User Generated Content
Users are publishers and consumers
Crowdsourcing
Folksonomy
Engagement
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A New Model for Information
Information in Web 2.0 is more…
..dynamic..local
..atomic
..relevant
..mashable
..mobile
..sharable
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The Principles Remain Unchanged
Relationships
Referrals
Human interaction
Authenticity
Communication
Intelligent Content
Conversations
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Google…
…A Window to Audience Intention
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Organic Search
Organic Search is Best• Free
• More traffic
• Smarter people
• Longer lasting
Organic Results75% Clicks
Vs. Paid Search
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Organic Search =Authentic Visibility
Off Page = 75%
Social Mediasphere
Blogosphere
Directories
Partners
Press Releases
Answers, Forums, etc
On Page = 25%
Keywords
Relevance
Page Title, Tags
Meta Data
XML Site Map
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The Long Tail – New Marketplace
“Financial Planner”
“Financial Planner for Verizon retiree”
Image from http://www.novelr.com
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Tools of the Trade
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Social Software
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Your Own Web Site
Branding and Design
Strong Content, Multi-media
Web 2.0 Features (Mobile, Sharable, RSS), Rich Internet Applications
User Generated Content
Interoperate/ Mashups
Landing Pages & Conversions
All roads lead here… be prepared to capture the opportunities
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Web 2.0 & Social Bookmarking
Users to share links / bookmarks
Web 2.0 integration
Free marketing
Drive traffic back
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What to publish?
Articles/ Blog Posts
Others’ Content
Podcasts, Videos
Photos
Presentations
eBooks
News Releases
Event Announcements
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Email & eNewsletters
Email is still key to stay in front of your audience
Emphasize content and value
Consider Text vs. HTML
Tracking codes
Syndication RSS
Promotion (e.g. Events)
Opt-in & Conversion
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SUBSCRIBEFeed Readers, Aggregators, Flash, Google Desktop, iTunes, etc…
RSS – Really Simple Syndication
Subscribe to a feed and automatically receive updates
Search-based feeds helps content find you
Subscriptions are free
RSS can be used for digital publishing and newsletters
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Mobile
Extend your reach
WAP or Native Applications
Mashups (e.g. Location Aware)
Customer Service / Account Access
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Wikis - Wikipedia
Collaborative authoring of content
User-edited content
17 million Wiki Pages
Content changes must by approved
Articles are cross-indexed
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Blogs
A web site of posts published in reverse-chronological order
Brings more dynamic content to your audience
Wide range in quality
Can build presence in the mediasphere
Increase awareness
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Blogger Impact Example
Jeff Jarvis coins phrase “Dell Hell” in his blog
Comments publicized by New York Times and Business Week
Dell responds by creating Direct 2 Dell blog
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Blog Syndication
Align individual and corporate goals
Newsletter Syndication
RSS based
Compliance workflow is key
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Social Networking…
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Presence, Sharing
Transparency- Identities – Home/ Work
Groups, Fans, Events
Increase Brand Awareness
Syndication (e.g. Tweets, Links)
Referrals
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Facebook: Compelling Facts
250 million+ active users
120 million+ users log on each day
Two-thirds of users are out of college
Average user has 120 friends
Source: Facebook http://www.facebook.com/press/info.php?statistics
5 billion minutes on Facebook each day (worldwide)
30 million users update status at least once each day
8 million users become Fans of Pages each day
Fastest growing demographic is 35 years old and older
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Follow news, trends, brands, people, topics
A new social and political revolution
Listen, engage, service
An outpost to syndicate your content
Convert sales
Find experts
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Example - Find experts
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Average age: 41 years
Average salary: $110,000
45 million users
16 million worldwide monthly unique visitors
331 million page views in June 2009
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LinkedIn – Key Value
Credible business referral Network
Professional outpost
Tool for content syndication
Long tail groups and communities
Keys include connections and credible content
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Financial Advisors in My Network?
Do they have a credible resume?
Have people recommended them?
Have they published? What is their particular
expertise?
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YouTube
Another storefront
Shareable, Relevance
24x7 Marketing
Credibility
Lead Generation
Syndication – to your site, others
Free – but requires commitment
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Extend your Media Presence
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Podcasts
Communication with subscribed listeners
Encourage sales & conversion rates
Support nurture program
Ability to offer richer content, greater loyalty
Differentiate
Appeal to long tail niche
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Groups, Communities, Forums
Share media, participate, communicate, innovate
Foster advocacy
Online focus groups / R&D
Groups - Participate or Lead
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eBooks
Training, handbooks, reference guides, product guides, manuals
Rich content, commercial Value
Multi-media experience
Searchable, indexed
Credibility
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Listening
What is the “Conversation” about you?
Where to Listen: Relevant Forums, Blog Search, Twitter, Google Alerts
Advanced listening systems and dashboards
Determine the sentiment
Participate in conversations
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Events and Webinars
Build credibility
Collect registration data
Promote with Facebook, Twitter, LinkedIn
Enable the nurture program and permission marketing
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YourWebsite
Internet Marketing Opportunity
Conversions
Landing Pages
Offers
Visitors!
Content Key Words
Social Media
Other Websites
Inbound Links
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Creating Value
Aware
Interested
Considering
Evaluating
Committed
Customer
Advocate
Developing initial perceptions…
1
.. Considering alternatives…
2
.. responding to relationship and dialog…
3
…becoming advocates for you.
4
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What you can do?
Good Better Best Establish an
online presence with outposts within social media
Enhance your web site experience
Publish original content around your specialty
Build your online network
Syndicate your content across outposts
Establish a nurture program with multi-media content, events and self-selection
Better enable online conversions (e.g. engagements with your firm; two-way communications)
Talk to your compliance partners
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4343
Consider Regulators & Compliance
Look at all the Regulators who impact your business
Use of advertisement product may require preapproval
Establish firm policies related to electronic communications and participation in electronic forums such as social networking sites
* Charles Schwab & Co., Inc. does not provide legal or compliance advice.
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Thank You