Social Media: Product Marketing Solutions

Social Media: Product Marketing Solutions

Shankar Saikia

March 20, 2010

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Topics

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Product Marketing Goals

Social Media: Explanation & Benefits

Social Media Product Marketing Solutions

Return on Investment (ROI)

Recommendations

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Product Marketing Goals

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Product Marketing Goals

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What is Social Media?

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What Makes Social Media Different

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Content: Community creates

Conversation: 2-way

Audience: Digital (online + mobile)

Distribution: Viral

Viral Distribution

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HOW TO MAKE VIRAL?1. Web-based2. Web customers3. Free4. Built-in virality (easy

to spread)5. Network effects(Adapted from: “Viral

Loop” by Adam Penenberg)

Source: Wired magazine

Viral Distribution

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YOU

YOUR FOLLOWERS

YOUR FOLLOWERS’FOLLOWERS

Examples of Social Media

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Blog Microblog Social Network

Professional NetworkVideo

Benefits for Product Marketing:Blog

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Connect directly to customers

Communicate in authentic voice

Enhance credibility

Blogs enable easy viewing of contentRESULT: more viewers

Blogs facilitate expression of genuineness RESULT: more viewers

Useful content increases trustworthinessRESULT: more viewers

Corporate Blog Example

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http://googleblog.blogspot.com/

Benefits For Product Marketing: Twitter

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Distribute content

Receive & Send instantly

Receive & Send advice

Twitter enables viral distributionRESULT: more viewers

Twitter communicates in real-timeRESULT: faster distribution

Twitter enables sending linksRESULT: increased credibility leads to more followers

Corporate Twitter Account Example

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http://twitter.com/google/

Benefits For Product Marketing: Facebook

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Build audience

Update instantly

Get feedback

Facebook enables centralized content sharing RESULT: one-stop shop for updates

Facebookcommunicates in real-timeRESULT: faster content distribution

Facebook’scentralized contentRESULT: quick responses leads to better reputation

Corporate Facebook Fan Page Example

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http://www.facebook.com/Google#!/Google

Benefits For Product Marketing: Youtube

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Entertain

Educate

Youtube enables visual contentRESULT: more viewers

Youtube how-tocontent provides valuable infoRESULT: more viewers

Corporate Youtube Channel Example

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http://www.youtube.com/user/Google

Benefits For Product Marketing: LinkedIn

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Professional image

Learn best practices

Recruit

LinkedIn profile enhances reputationRESULT: more credibility

LinkedIn groups enable content sharingRESULT: improve productivity

LinkedIn company profile enhances reputationRESULT: improve human capital

Corporate LinkedIn Group Example

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http://bit.ly/dzTlwR

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Product Marketing Business Processes: Examples

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Generate Sales Leads

Analyze Competition

Respond to Request For Competitor ‘s Product

Educate Customer

Inform Prospects

Gather Product Requirements

Research Market Requirements

Example Business Process 1: Generate Sales Leads

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Research search &

social media

Identify locations

Identify audience

Market to

location

Market to

audience

TOOLS USED:1. Google Insight2. Twitter Search3. Blog Search

Example Business Process 2: Educate Customers

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Setup product

blogs

Setup Twitter account

Invite Customer To Twitter

Distribute blog

updates on Twitter

Measure Customer Response

TOOLS USED:1. Wordpress2. Twitter3. Facebook (optional)4. Youtube (optional)

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Sample ROI

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Process = Educate Customers

Benefits:-Engage more customers-Build closer relationships

How to Calculate ROI:-Calculate revenue from existing customers before implementing process-Calculate revenue from existing customers after implementing process-Divide incremental income by cost of establishing process

Example:Revenue Increase = $2 million (assuming 0.2% for $1 billion product line)Incremental Income = $200,000 (assuming 10% net margin)Cost of process implementation = $20,000

Incremental Income / Cost = 1000% !!

ROI Measurement: Blog Metrics

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1. LOCATION2. TIME3. CONTENT VIEWED4. VIEWER

DEMOGRAPHICS5. SOURCE OF CONTENT

ROI Measurement: Twitter Metrics

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1. FOLLOWER COUNT2. FOLLOW

ANALYZE TWEETSwww.twittercounter.com

ROI Measurement: Facebook Metrics

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Facebook Insights 1. INTERACTIONS2. INTERACTIONS PER

POST3. POST QUALITY4. STREAM CTR/ETR5. DISCUSSION POSTS6. REVIEWS7. MENTIONS

ROI Measurement: Youtube Metrics

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1. SOURCES OF VIEWERS2. TIMELINE3. DEMOGRAPHICS

ROI Measurement: LinkedIn Metrics

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Contacts Network Statistics

1. DEMOGRAPHICS2. INDUSTRIES

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Next Steps

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1.Designate internal social media champion

2.Get 1 or 2 people trained on social media basics (1-day)

3.Evaluate 1 business process to enable on social media

4.Engage consultant to implement social media for 1 business process (1 to 2 months)

Summary

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• Focus on business process improvements

• Social media provides new communication channels

• Product marketing can benefit from social media

• ROI tools exist to evaluate social media effectiveness

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