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Setting the stage for a panel on Social Media
Citation preview
Social Media
TiE Houston Social Media WorkshopMarch 21, 2012
Agenda
• Setting the stage• Usage of Social Media in Business• Mobile <-> Social
Only Facebook and Twitter? Think again
15MM+ users
135MM+ users
51MM+ users
15MM+ users
62MM+ users
232MM+ monthly active users
115MM+ subscribers
20MM+ blogs
6MM+ users
800 MM+ monthly active users
230MM+ users 2MM+ users
500K+ users
800MM+ monthly users visit site
100K+ users
2MM+ users
2MM+ users
1.5MM+ users
Source: Official and Estimated statistics. Facebook, YouTube, Zynga, Twitter, LinkedIn, Groupon, Flickr, Tumblr, Instagram, Foursquare, Pinterest, scvngr, Path, Google+ SlashGear, TechCrunch / Comscore, FastCompany, Oink: TechCrunch, GetGlue, Foodspotting: Soraya Darabi’s LinkedIn, Esteban Contreras
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Facebook is #1 – by most measures
Source: Citi Investment, Research and Analysis (September 2011)Source: Comscore, February 2011, Nielsen, State of the Media: The Social Media Report Q3 2011Source: Experian Hitwise, Facebook was the top search term for 2011, based on searches on Bing, Yahoo and Google
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Social network is a worldwide and industry wide phenomenon
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Brand building benefits the most from social media
Source: Booz & Company/Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results, Esteban Contreras
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Businesses think they know their social customers, but do they?
Source: Survey by Pivot 2012.pivotcon.com
77% of companies thought they knew their social customers well, but 53%hadn’t even asked!
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Businesses are challenged by how to use Social Media Effectively
WHO OWNS IT? HOW DO YOU DO IT? HOW DO YOU MEASURE IT?
• Full time?• Part Time?• Marketing?• PR?• Advertising?• Customer Service?
• What tools?• Marketing Platform?• Email marketing fit?• Extremely complex
• The Holy Grail!• Extremely nascent• Social Analytics an emerging field
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Who owns Social Media? Everyone? No one?
• There must be an assigned owner• Might be different for Facebook and Twitter
– For example, Twitter might be owned by PR since it is largely a conversation, but Facebook might be owned by Marketing since it could be more strategic
• The best practice seems to be to assign owners, but ensure that all other teams are involved
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How do you do it?
Social Platforms
Analytics
CRM
Listening
Radian 6 (Salesforce)BazaarVoice
Lithium
ExactTargetConstant Contact
Marketo Eloqua
CMS
Media
E-Commerce
Web Content ManagerWebSphere Portal
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How do you measure it?
• Area of intense discussion• No resolution: see Table on value
of a “Like”• As of 3/20, Google launches a
Social Reports section under Google Analytics
• $9.56: (money saved in triggering a fan into a purchase or other action assuming a constant acquisition cost of $1-per-click, compared to the cost for a non-fan; calculated by SocialCode).
• 2 cents: (offer for 500 new fans for $10.51; eBay).
• 57 cents: (offer for 1000 new fans for $57 by this fan-creating agency).
• $1.07: (the cost of advertising on Facebook that encourages a user to become a “fan”; Webtrends).
• $3.60: (as a media buy to reach 1 million fans; Vitrue).
• $71.84: (extra amount fans spend vs. non-fans; Syncapse)
• $136.38: (average annualized value of total fan purchases; Syncapse).
• 20 extra visits to your web site: (vs. one visit from a non-fan; Hitwise).
Source: How Much is a FacebookFan Worth? $10. Or Possibly 2 cents. Business InsiderSource: Why Brands Still Need Facebook “Fans”, AdAge Digital, Esteban Contreras
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Example: What is the value of a FB “Like”
Social Media on Mobile Devices are becoming the norm
MO
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<>
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Source: eMarketer
Users are more than just “consumers” of social media on their mobile devices
70% of users posted a status update on their mobile device and 28% clocked on an ad
MO
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Users are more than just “consumers” of social media on their mobile devices
70% of users posted a status update on their mobile device and 28% clocked on an ad
MO
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<>
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Conclusion
• Social Media usage is growing rapidly, but its usage by business is still in the nascent stage
• Businesses must assign an owner to social media to do it right
• A social media strategy must work with a companies mobile strategy
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