Slone bus413-short-presentation
- 1. Elaboration and discussion of: The Social Media Bible: Tactics, Tools and Strategies For Business Success by Lon Safko Social Media for Business DeAnna Slone BUS413 April 20, 2013
- 2. Discussion Points DeAnna Slone BUS413 April 20, 2013 Social Media Defined References New Paradigm: Word of Mouth at the Speed of Light ROI of Social Media 15 Categories of Social Media Statistics of Social Media Five Key Steps to Social Media Success 7 6 5 4 3 2 1 2
- 3. •Definition Social: Instinctual human needs to connect -Need to be around and included in groups Media: Something that enables the connection -Today, represented by technological tools •Social Media is the Tool Multi-purpose relationship builder - Marketing - Customer service - Corporate message no longer controlled • Consumers value product opinion from social friends above what the business say Social Media Defined DeAnna Slone BUS413 April 20, 2013 3
- 4. Social Media Categories (15) Real-time technological tools are available at everyone’s fingertips. Opinions and infromation is distributed in a blink of an eye. The authors and audience are extremely diverse: public and even internal (employees). A business should be a part of every category. Friends, Family Busines to Business Business to Consumer DeAnna Slone BUS413 April 20, 2013 4
- 5. Word of mouth at the speed of light New Paradigm: DeAnna Slone BUS413 April 20, 2013 5 •One bad comment to millions in less than a second Requires businesses to actively monitor Mitigation should follow same path •Business: adopt a real-time philosophy 24/7 proactive staff around the world
- 6. Three most popular Social Media Statistics Tw itter Pinterest Facebook Users 500m 10.4m 1B Unique Visitors/mo 39m 12m 167m Age 35-44 22.50% 27% 24% 25-34 24% 29% 18% Avg Time Spent 36 min 77 min 12 min Income < 25k 15% 8% 10% 25-49k 42% 40% 32% 50-75k 10% 10% 12% DeAnna Slone BUS413 April 20, 2013 6
- 7. Success and Opportunity Examples Return on Investment (ROI) Search Engine Marketing (SEM) via Google AdWords Matches demographics on all users and positions related advertising to user profile Organic changes on the fly to manage effectiveness in real-time Statistics and measurements provided hourly the day after Google maintains integrity to their customers to mitigate fraud Know your target audience, set goals, and proactively measure Use Google Analytics to proactively measure and adjust AdWords Strategy Google AdWords Top sales and web site records in 38- year history using Twitter Committed resources to the potential Management buy-in required 48-hour fare sales on Twittter only (twice in 3 months) Measurement and reporting essential – especially for predicting what could happen Success Factor: Organizational Change Southwest Airlines 1 2 DeAnna Slone BUS413 April 20, 2013 7
- 8. Five Key Steps to Social Media Success Total is greater than that of the sum of the parts Analyze your existing media Must be a part of the social media trinity Integrate strategies Proactively resource Implement and measure and measure again DeAnna Slone BUS413 April 20, 2013 8
- 9. n.a. (December 2012). Job Stock. Blog by Job Stock on Social Media – Graphic by Quicksprout. http://www.jobstock.com/blog/social-media-statistics- 2013/ Safko, L. (2010), “The Social Media Bible,” 2nd Edition. Wiley Publishing. References DeAnna Slone BUS413 April 20, 2013 9