Social Media

Marketing

Social Media

Marketing For

entrepreneu

rs

For

entrepreneu

rs

International Entrepreneurship Conference ‘Baltic Spark’April 17, 2010 - Riga, Latvia

Delfin Vassallo

International Entrepreneurship Conference ‘Baltic Spark’April 17, 2010 - Riga, Latvia

Delfin Vassallo

How Social Media Marketing works?How Social Media Marketing works?

• We are influenced and motivated by each other to do things. We are social beings, sharing our experiences is part of the social interaction

• We are influenced and motivated by each other to do things. We are social beings, sharing our experiences is part of the social interaction

*Razorfish TM http://www.razorfish.com/ Photo by Ricardo Carreón http://www.flickr.com/photos/carreon/4497349050/

• Influence through conversation

• Low consideration vs. high consideration purchases

• Social Influence Marketing (SIM*)

• Influence through conversation

• Low consideration vs. high consideration purchases

• Social Influence Marketing (SIM*)

The Rules of the GameThe Rules of the Game• Be authentic

– Talk with your own voice– Never post / publish anonymously, your

consumers need to know who you are to trust you

– Respond to everything, always– Be human

• You get because you give– Give relevant content

• All participants have same status– Everyone is special and unique (at least

it’s what we like to think about ourselves)• Let go of your campaign

– You are one more participant– Always control of your own response

• Be authentic– Talk with your own voice– Never post / publish anonymously, your

consumers need to know who you are to trust you

– Respond to everything, always– Be human

• You get because you give– Give relevant content

• All participants have same status– Everyone is special and unique (at least

it’s what we like to think about ourselves)• Let go of your campaign

– You are one more participant– Always control of your own response

Photo by Skene http://www.flickr.com/photos/skene/3743369194/in/set-72157616956939008/

How do I choose which

Social Media use?

How do I choose which

Social Media use?

And that they’d

be suitable for

me

And that they’d

be suitable for

me

Choosing your Social MediaChoosing your Social Media

• One is not enough

– You won’t find all your potential customers in one single platform

– It’s more likely your customers are participating in more than one platform

• Invest time, effort and money

• Research according target country / area

• Social Influence Marketing requires patience:

– To learn

– To build relationships

– To test

– To optimize

• One is not enough

– You won’t find all your potential customers in one single platform

– It’s more likely your customers are participating in more than one platform

• Invest time, effort and money

• Research according target country / area

• Social Influence Marketing requires patience:

– To learn

– To build relationships

– To test

– To optimize

Social technographics tools:www.forrester.com/Groundswell/profile_tool.htmlwww.quantcast.com http://www.alexa.com/topsites/

Understand your customers

• How long they use the platform?• What do they specifically do on it?• How they interact with others?

• Find out the “place of influence”– Where they make they

purchasing decisions?– Where they get influenced by

others?– Where they observe how their

friends are buying / discussing purchases

Understand your customers

• How long they use the platform?• What do they specifically do on it?• How they interact with others?

• Find out the “place of influence”– Where they make they

purchasing decisions?– Where they get influenced by

others?– Where they observe how their

friends are buying / discussing purchases

Steps to choose your SMSteps to choose your SM

Steps to choose your SMSteps to choose your SM

Research the platform

• Social dynamics

• Marketing possibilities:

– Display ads

– Social ads

– Sponsorships

– Influencer marketing

– Applications & widgets

– Brand pages

– Other

Research the platform

• Social dynamics

• Marketing possibilities:

– Display ads

– Social ads

– Sponsorships

– Influencer marketing

– Applications & widgets

– Brand pages

– Other

Photo by Benny Bnut http://www.flickr.com/photos/bvcphoto/4044750742/

Steps to choose your SM

Steps to choose your SM

Evaluate and think your strategy • Planning!• Realize which platforms have meaningful social

engagement and will benefit you• Look the big picture

– How your marketing efforts work together?– How your different properties link each other?– How are they coordinated with offline activities?

Top Baltics’ websites

Latvia Estonia LithuaniaDraugiem.lv Google.ee Google.lt

Google.lv Google.com Facebook.com

Inbox.lv YouTube.com Google.com

YouTube.com Facebook.com YouTube.com

Google.com Delfi.ee One.lt

Delfi.lv Neti.ee Delfi.lt

Ss.lv Postimees.ee Yahoo.com

One.lv Orkut.com Irytas.lt

Tvnet.lv Hot.ee Draugas.lt

Wikipedia.org Wikipedia.org Wikipedia.org

Apollo.lv Live.com Linkomanija.net

Facebook.com Rate.ee Plius.lt

Source: Alexa ranking for Apr 2010 http://www.alexa.com/topsites/countries

Created by Drew McLellan http://www.drewsmarketingminute.com/2010/03/social-media-cheat-sheet.html

Niche platformsNiche platforms• Targeted to specific market segment

– MySpace > Music– Linked In > Professionals / businessmen– devianART.com > Graphic / plastic artists– Vimeo > Art videos – Sermo > Physicians / medical world– CouchSurfing.org > Young travellers– FinlandLive.info > Expats in Finland

• Other basics– Ning > Create your own social platform– Blogger networks– Wikipedia– Flickr– Delicious– Digg

• Targeted to specific market segment– MySpace > Music– Linked In > Professionals / businessmen– devianART.com > Graphic / plastic artists– Vimeo > Art videos – Sermo > Physicians / medical world– CouchSurfing.org > Young travellers– FinlandLive.info > Expats in Finland

• Other basics– Ning > Create your own social platform– Blogger networks– Wikipedia– Flickr– Delicious– Digg

Photo by Ricardo Carreón http://www.flickr.com/photos/carreon/2925070150/in/set-72157594578350003/

Establishing your online properties

Establishing your online properties

The new

Real Estate!The new

Real Estate!

• Promote your SM channels on company website & email signatures• "Become a fan" NO! > “Join the conversation on -your industry name-hot topics”• Employees email signature include links to blog, Twitter account & groups besides their name, phone, address...

• Unique blog page visitors• Twitter followers• LinkedIn group members• Traffic generated by SEO• Leads by source: inbound web, seminars, tradeshows• Compare metrics with your increase in leads & sales• Initiate on ‘sentiment’ measurement

• Open forum to discuss issues related to your field• Team members should take initiative to start conversations• Don't talk about your company or products• Review/Suggest industry events• Feedback on new approaches or consumer needs• Join other groups and participate

• Monitor the web, blogosphere, forums & communities to find relevant conversations• Join the conversation, comment on blogs & point readers to same topic content at your blog• Create blog posts that potentially will go viral

• Post short, post frequent and post relevant!• Notices about new blog posts and events• Links to industry news• Fun entries, trivia questions, informal researches• Scan conversations looking for twitterers in need of advice about your field• Re-tweet relevant information

Create a blog to start and join conversations

Building your properties to generate leads

Establish a Twitter account

Create Linked In & Facebook groups

Cross link your properties

Measure SM accounts & website traffic

Measuring resultsMeasuring results

• SIM metrics are different from Direct Response Marketing metrics• Data gathering is relatively easy, use same tools and parameters

over time to get consistent results • Match SIM metrics with your other marketing metrics to see how

they correlate• Biggest challenge: correlating data with your business objectives• Define your Key Performance Indicators (KPI’s)• Measurement areas*:

– Traffic

– Demographics

– Sociographics

– Social actions

*Sometrics: http://www.sometrics.com/ Top tools for Social Media monitoring: http://socialmediatoday.com/SMC/155299 Measuring Social Media: http://www.djvassallo.com/2009/11/measuring-social-media.html

Measuring ‘Sentiment’Measuring ‘Sentiment’

• What your customers feel about your brand?• Quantity of comments matter• Quality matters much more

• What your customers feel about your brand?• Quantity of comments matter• Quality matters much more

SIM Score* = Sentiment for the brand + Conversation share SIM Score* = Sentiment for the brand + Conversation share

*Razorfish TM http://www.razorfish.com/ Download Fluent from Shiv Singh blog http://www.goingsocialnow.com/ Photo by Ricardo Carreón http://www.flickr.com/photos/carreon/2501134102/in/set-72157594578350003/ *Razorfish TM http://www.razorfish.com/ Download Fluent from Shiv Singh blog http://www.goingsocialnow.com/ Photo by Ricardo Carreón http://www.flickr.com/photos/carreon/2501134102/in/set-72157594578350003/

Last word on Social Media measurement

Last word on Social Media measurement

• The important thing is, regardless of how you choose to measure engagement, to have a clear metric in mind before you begin.

• Without a benchmark it’s impossible to determine success.

• In order Social Media measurement pays off, it requires considerable commitment, besides time and staff investment.

• The important thing is, regardless of how you choose to measure engagement, to have a clear metric in mind before you begin.

• Without a benchmark it’s impossible to determine success.

• In order Social Media measurement pays off, it requires considerable commitment, besides time and staff investment.

Photo by Ricardo Carreón http://www.flickr.com/photos/carreon/430882134/in/set-72157600049454148/

Basic resources & insights

Social Media ActualityMashable http://mashable.com/Social Media Today http://www.insidefacebook.com/Chris Brogan www.chrisbrogan.comRead Write Web http://www.readwriteweb.com/

BooksLet’s Talk, Social Media for Small Business: http://www.ducttapemarketing

.com/blog/2008/11/13/free-social-media-for-business-ebook/ Social Media Marketing for Dummies: http://www.amazon.com/gp/product/0470289341?ie=UTF8

&tag=sommeindia-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0470289341

Social Media monitoring toolsSocial Mention: http://www.socialmention.com/ SWIX: http://www.swixhq.com/ Xinu: http://xinureturns.com/ Social Networking Media ROI calculator: http://www.dragonsearchmarketing.com/online-marketing-strategy/social-

media-marketing/social-media-roi-calculator Radian 6: http://www.radian6.com/ Hub Spot: http://www.hubspot.com/

FacebookInside Facebook http://www.insidefacebook.com/

Keep in touchKeep in touch

Delfin VassalloDigital Villager

Helsinki, Finland@DJVassallo

djvm98@gmail.comwww.djvassallo.com