Strategy to Accelerate Your Business Growth with Social Marketing

Strategy to Accelerate Your Business Growth

with Social Marketing

Topics Investigated

• Introduction & Traditional Marketing Methods

• The Social Media Advantage

• Social Media Marketing Program: Strategy, Methods & Measures of Success

• Effective Use of Social Media

• Viral Marketing & Social Networks

• Developing Your Social Media Marketing Program

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Imagine The Impact

Imagine the effect on your business with:

• 2,000+ new qualified prospects in the next 60 days

• Converting 100 prospects into repeat customers

• And more than 200 new customers in the next 6 months

What impact will this haveon your revenue and profit?

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Traditional Methods of Lead Generation

Traditional Advertising• Yellow Pages, YB• Mailer Packs• Local Magazines• Newspapers

• How much are you spending monthly?

• Are you satisfied with your return on investment?

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Traditional Methods of Lead Generation

• High cost and low views• Passive advertising• Minimal or no capability to measure results• No email list auto-building• Typically a one-time transactional sale• Minimal relationship development• Low return on investment• Referral (viral) marketing not possible

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Issues & Challenges

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New Group Marketing Techniques:AmazonLocal & Groupon

• Provides a low cost opportunityfor prospects to try products & services

Issues & Challenges• Promoted only to subscribers

of these services• Loss leader concept, the group

marketers keep 50% of the “deal” price

• No email list auto-building• Typically a one-time transactional sale• Minimal relationship development• Low return on investment• Referral (viral) marketing not possible

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Benefits

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Relationship Xpansion with Social Media

Engage more prospects and customers with RelationshipXpansion (Rx) techniques:

• Develop offers that can be shared by prospects and customers.

• Use third-party referral methods that are much more effective than traditional advertising (viral marketing).

• Build relationships with prospects before they visit your business for the first time.

How can this be achieved in a cost effective manner?

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The Social Media Advantage

Social Media: The Foundation for Viral Marketing

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Social Media Marketing

• Utilize social networking for enhanced exposure

• Interact with people and build relationships

• Fans become your referral enginewhen they have a good reasonto share your business

With various social media, which is best for viral promotional marketing?

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Social Media Marketing: Facebook

• Why Facebook? Explosive growth and market penetration, over 150,000,000 users in the U.S.

• Users are on Facebook more than one hour daily

• No cost for a business page

• No cost for promotionalpostings and photos

• Ability for contests andcoupon offers

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Social Media Marketing Program:Strategy, Methods & Measures

Defining Your Social Marketing Strategy

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• Utilize the Facebook social network to acquire qualified prospects and expand relationships. Build a following of _____ fans.

• Encourage prospects and customers to refer you business service or products using viral marketing methods.

• Convert _____ prospects into customers with relationship expansion techniques.

• Increase sales while maintaining fixed costs. The additional net revenue will directly translate to net income .

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Methods to Achieve Goals

• Let Facebook fans refer your business using viral marketing techniques: contests, coupons

• Develop a flyer to inform existing customers about your Facebook page and viral offers

• Build an effective email database for emailing promotions

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Methods to Achieve Goals

• Dedicate time weekly to interact with your Facebook fans and further build relationships

• Post product, service and other useful information to your Facebook page several times weekly, shows up on your fan’s News Feeds in Facebook

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Weekly Interaction is Important

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Determine Success

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You can't manage what you don’t measure. It’s important to develop proper measures and process to understand your ROI.

Measures for a Social Media Marketing Program• Measure increase in fans from viral

marketing activities• Track prospect conversions to

customers• Analyze new customer revenue• Evaluate return on investment (ROI)

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Evaluate Future ROI

• Determine the net income generated by viral marketing techniques that grow your revenues

• ROI Measure #1: Compare the short-term (6 month) probable net income with the SMMP investment

• ROI Measure #2: Compare the long-term “lifetime customer value” with the SMMP investment

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Short-Term ROI greater than 30% of program investment

Long-Term ROI greater than 400% of program investment

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Effective Use of Social Media

Facebook: Effective Social Media Use

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Facebook: Example Offers Posted

Fans react to offers and post their opinions

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Facebook: Example Posting on News Feed

Business promotions appear on News Feed with link to company website. No cost promotional method, however it needs “fans” to view the posting.

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Facebook: News Feed

When logging in to Facebook the first thing seen is the News Feed with postings from friends and businesses like yours that have been “liked”.

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Developing Your Social Media Marketing Program

To learn more about developing yoursocial media marketing program, please contact:

Jeff WhiteSocial Marketing Advisorsinfo@SocialMarketingAdvisors.net

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