SOCIAL MEDIA MARKETING:SOCIAL MEDIA MARKETING:THE BASICS FOR ENTREPRENEURSTHE BASICS FOR ENTREPRENEURS

Inventor’s Association of Georgia

June 27, 2009

Jackie Hutter, MS, JDChief IP Strategist

The Hutter Group LLC & Patent MatchmakerWebsite 1: www.JackieHutter.com

Website 2: www.PatentMatchMaker.comBlog: www.ipAssetMaximizer.com

Follow me on Twitter: @ipStrategistBlip.fm DJ JackieHutter

Question of the DayQuestion of the Day

◦ Why is an IP Lawyer Talking to Entrepreneurs About Social Media Marketing?◦ My journey

applicable to anyone who is:◦ Entrepreneurial◦ Curious/

Adventurous◦ Bootstrapping

My Journey into SM MarketingMy Journey into SM Marketing

A A Non-Expert’sNon-Expert’s View of SM View of SMThere really are no experts today

◦Evolving daily, new rules constantly◦Traditional marketing rules do not apply

SM is not about “eyeballs,” it is about relevant connections◦Who is looking for the information you are

associated with?Develop a relevant niche and stick with

it◦Use same “persona” in multiple SM channels◦Creates credibility and makes you findable

Key Takeaway from My Key Takeaway from My SM Marketing JourneySM Marketing JourneySuccess in is a

process not an event◦ But this is true for all

marketing effortsNot enough to just

show up, you have to participate in your chosen niche◦ More is more

My journey continues◦ Wherever I am, I am

not yet there

SM Marketing Program SM Marketing Program BasicsBasics

Would you rather hire someone to design and implement your program?◦Huge number of SM marketers available

Even if someone assists, you still will have to provide content◦Significant commitment required

Suggest starting slowly◦Watching others can help you find your

way◦Wrong path can be hard to undo/time

waste

Step 1: You Step 1: You MustMust Have a Have a WebsiteWebsiteMost people go to

websites if interested in learning more about your business◦ Even if you meet them

in person◦ Instant credibility killer

if you do not have this!

Enables people to ◦ Find your business

Search engines crawl the web and index information

◦ Validate your expertise

Steps to Setting Up a Steps to Setting Up a WebsiteWebsitePick a URL◦ Goal is long-term viability and findability

You may need to change your business name!◦ Try to get a .com name◦ Should have no dashes, dots etc.◦ Check availability and purchase

Establish a website with the URL◦ “It ain’t Rocket Science!”◦ Can hire someone

+: Easier, can be more professional looking -: Expensive, need to keep paying for maintenance

◦ DIY +: Several free or low-cost providers of easy to use website

templates GoDaddy.com, Wix.com

+: Can do your own updates, maintenance -: Takes time to learn, must exercise discipline in keeping

up

Step 2: Set Up Google Step 2: Set Up Google Alerts Alerts Set up a Google Alerts for your name & things

related to your business◦ What and who is talking about you◦ http://www.google.com/alerts?hl=en&gl=us

Also good for monitoring blogs that discuss subjects in which you are developing expert status

Ex: My Alerts 1x’s a day Patent Strategy Intellectual Property Strategy Jackie Hutter My blog: ipAssetMaximizer.com

4\4\

Step 3: Dive into the SM Step 3: Dive into the SM Marketing PoolMarketing Pool

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BlogsBlog commentsLinkedInTwitterContent Marketing

◦ Ezine articles◦ JDSupra (for

lawyers)FacebookNing.comInnovation Social

Networks

Why So Many Options?Why So Many Options?The key to success in Web 2.0

world is getting your name out there in your chosen niche◦Top listings in search engines◦Use same/similar content over and

over in different locations to boost visibility Tweak for use in various contexts Goal is ubiquitousness

BlogsBlogsMillions of blogs in the world today

Allows infinite segmentationGoal is to find blog topic that others

have not identified and that others would be interested in reading

Great opportunity to establish a presence on the web that can drive business to you◦ Become a recognized expert/news

aggregator in niche related to your entrepreneurial concept◦ “Ft. Myers Beach”

Distinguish from advertising◦ Like having content related to your

business published on a regular basis

BlogsBlogsMy story: www.ipAssetMaximizer.comTruly niche area of IP business strategy“Expert” blog

◦ Takes me about 4 hours for each post Sometimes more

◦ Ranked in searches as more substantive because I have original content As opposed to aggregation

Not large readership, but high influence◦ And likely buyers of my services

Biggest challenge with blog is time takes to write◦ Can collaborate to lessen commitment◦ Aggregation blogs take less time◦ Note: found easier to start because I have been

reading blogs for several years

Blog CommentsBlog CommentsCommenting can be great way to

enhance web presence◦ Indexed on web and attributable to you if

under your own name (or traceable alias)◦ Crowd sourcing for journalists

Comments have to be substantive and relevant to your expertise

Can gain significant credibility as expert in chosen subject◦ Ex: I was recently contacted by Business

Week about a comment I made Appeared on BusinessWeek.com in April in “Game

Changing Ideas” series Perpetuates my Web-based reputation

LinkedInLinkedInwww.LinkedIn.com

◦Over 8 million members◦ Many people not on at all or have

only a couple of connectionsProvides single source of online

visibility◦Continuous source of connection

Independent of current jobResume/cv checker

More reliable when public? Find collaborators/partners/suppliers Join affinity groups

+/- of LinkedIn (IMHO)+/- of LinkedIn (IMHO)

What I Like What I Don’t Like

Can find people easily Great source for virtual partners

Central place to put info about me◦ Business information◦ Resume◦ Automatically posts blog updates

Can enhance reputation◦ Answer questions◦ Presentations◦ “What am I doing”

Can find collaborators for projects◦ “Everyone is a free agent”

Emerging high level jobs board◦ Low cost source of employees more

likely to move or work virtually

Has become crowded◦ Specialness hard to extract◦ Lots of foreign users,

especially in networks No peer review

◦ Not reputation based, promotion based

◦ Answers often wrong, but no way to call out

Increasingly requires substantial effort to extract value◦ Little niche opportunity◦ Better for those with

marketing professionals?

TwitterTwitter“Microblog”

◦All entries in 140 characters or less◦ What’s going on in real timeMore personal form of SM Requires continuous updating

◦Once a day at a minimum◦Multiple times a day better

Develop relationships with people based upon Tweets

Many 3rd party applications to make easier and more valuable to use

TwitterTwitterValue Proposition for Entrepreneurs

◦ Can gain immediate expertise by asking a general question or sending a direct message People very happy to give info “Know anyone who . . .?”

◦ Focused niche information Find content aggregators in your area of interest Learn about issues your potential customers may be

facing◦ Meet potential customers and business

associates who arguably are in a higher demographic group and more innovative than the general business population Early adopters more likely to respond to new

marketing techniques like Twitter◦ Greater interaction likely leads to less

isolation and better idea generation

TwitterTwitterCan be confusing when starting

◦ Think of as “virtual watercooler”IMO numbers not as important as

content◦ My “Twitter grade” very high even though I

don’t have huge # of “followers”Fact that people select you effectively

makes Twitter peer reviewedSelfpolicing

Keys to success◦ Get Retweets◦ Gain followers◦ Make personal contacts◦ Gain customers

TwitterTwitter IMHO Twitter is the greatest source of personal

marketing today◦ “Networking on steroids”◦ People connect with and recommend those whose

name they recognize and trust Lots of people in the Internet-related areas, but

fewer in other niche areas◦ Still time to stake a claim and gain followers,

especially in niche area Auxiliary benefits

◦ “Tweetups”◦ Drive traffic to your blog◦ Publicize news◦ Learn about new tools to make work and life easier

and less expensive◦ Find like-minded people in far-flung places

FacebookFacebookPlace for people to

◦Communicate◦Update◦Collaborate via groups

Still evolving into a product◦Likely to be very different product in a year

IMO, I look at as place to engage socially◦Wish to keep personal friends separate

from business friends◦Ways do exist to wall off personal from

business◦Might want to investigate because good for

search engine rankings

Content MarketingContent MarketingCommunication with your actual and

potential customers without pitchingMaking them smarter about topics

relevant to your productUseful and entertaining info

worthwhile on its own, but that might also be useful towards sale or subsequent action◦Ex: example of really good review of

productBest form is conversation

Content MarketingContent MarketingDefine a critical group of buyers

◦ Target audienceDetermine what information they really

need and how they want to receive it◦ How do they need to be educated

Deliver that critical info to that core group of buyers in the way they want it◦ Don’t pitch!

Continually measure how well you’re doing and adjust as you go◦ Use market research to ensure proper targeting

Content MarketingContent MarketingSources

◦Blogs◦Ezine Articles

http://www.ezinearticles.com/ Re-package content and put in article format

◦Alltop: Digital Magazine rack◦Google Reader

Most RSS to Twitter for additional exposure

Free and paid options for most

Create Your Own Social Create Your Own Social Networking Site with Networking Site with Ning.comNing.comPuts new social networks in hands of anyone with a good idea◦ Ex: Inventors Associations, Affinity Groups

Your social network can be for anything and anyoneName your social network and choose a combination

of features◦ Photos, videos, forums, events, etc. from list of

optionsCustomize your social network's appearance and

launchPeople who join your social network will

automatically have a customizable profile page and will be able to message and friend each other◦ Allows like-minded people to develop deep and personalized

networks

Emerging Open Innovation Emerging Open Innovation MarketplacesMarketplaces

Historically, major corporations have not looked outside for ideas◦ Would buy businesses with products, but not bare

ideas whether patented or not◦ Had own R&D departments◦ “Not invented here”

Today, major corporations increasingly searching outside for innovations◦ “Open Innovation”◦ Still relatively few companies with attitude and

infrastructure◦ Sure to change in future as economy improves and

effects of downsizing realized Net result will be that companies will not have enough

ideas to fill pipelines

Emerging Open Innovation Emerging Open Innovation MarketplacesMarketplaces Corporations that today have Open Innovation

infrastructures starting to post product and technology needs on sites◦ Yet2.com

Product centered◦ Innocentive.com

Innovation centered with “rewards” listed

These ARE NOT invention submission companies◦ Only companies pay to participate◦ (You should not pay to have your idea listed)◦ Some companies: P&G, Newell Rubbermaid

Untried new model is InventBay◦ “First to view”◦ Invest in new ideas if pass, will allow you to post on site◦ “Shopping list” for ideas◦ Unknown who uses today

Parting ThoughtParting ThoughtYes, the Web 2.0 world is confusing

and time consuming!Don’t assume that tools you use

today will be there in future◦Web is continually evolving

But if you don’t jump in, you can never be part of this world

Your reputation belongs to you, so best not to rely on others solely to develop and maintain your online reputation◦Ok, to hire a Web 2.0 marketer to assist

you

THANK YOU!