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How to Grow Your Buiness with Social Media

How to Grow Your Buiness with Social Media

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Are you interested in Social Media ROI or Social Media Best Practices? Then check out this deck from Jamie Turner,co-Author of "How to Make Money with Social Media."

These slides contain plenty of statistics and data on social media and how to use social media.

Are you interested in Social Media ROI or Social Media Best Practices? Then check out this deck from Jamie Turner,co-Author of "How to Make Money with Social Media."

These slides contain plenty of statistics and data on social media and how to use social media.

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How to Grow Your Buiness with Social Media

  1. 1. How to Grow Your Business with Social Media Jamie Turner Co-author, How to Make Money with Social Media and Go Mobile Chief Content Officer, the 60 Second Marketer
  2. 2. Introductions • Co-author of How to Make Money with Social Media and Go Mobile • Regular guest on CNN and HLN on the topic of social media and mobile marketing • Consults with small, As Seen On medium and large corporations
  3. 3. Twitter Handle: @AskJamieTurner I’m watching @AskJamieTurner present “How to Grow My Business with Social Media” sponsored by T-Mobile
  4. 4. Agenda Agenda Item Time Allotment • How Consumers Make 55 minutes Buying Decisions • How to Use Social Media 55 minutes to Connect with Customers • New Tips and Techniques 55 minutes in Mobile Marketing • Applause 3 hours
  5. 5. Tell Me About You
  6. 6. 60 Second Social Media Snapshot 7
  7. 7. 60 Second Social Media Snapshot • Rate yourself on Strategic a scale for part time vs. full time • Rate yourself on a scale for tactical vs. Part Time strategic Full Time Tactical
  8. 8. 60 Second Social Media Snapshot • Rate yourself on a scale of 1 to 10 for part time vs. full time • Rate yourself on a scale of 1 to 10 for tactical vs. strategic
  9. 9. 60 Second Social Media Snapshot • Rate yourself on a scale of 1 to 10 for part time vs. full time • Rate yourself on 1 a scale of 1 to 10 for tactical vs. strategic
  10. 10. 60 Second Social Media Snapshot • Rate yourself on a scale of 1 to 10 for part time vs. full time • Rate yourself on 1 a scale of 1 to 10 for tactical vs. strategic 2
  11. 11. 60 Second Social Media Snapshot • Rate yourself on a scale of 1 to 10 for part time vs. full time • Rate yourself on 1 a scale of 1 to 10 for tactical vs. strategic 3 2
  12. 12. 60 Second Social Media Snapshot • Rate yourself on a scale of 1 to 10 for part time vs. full time • Rate yourself on 4 1 a scale of 1 to 10 for tactical vs. strategic 3 2
  13. 13. How People Make Buying Decisions
  14. 14. The AIDA Model of Consumer Behavior Consumer Response Models Presentation, Cognition Awareness, Attention Awareness Attention, Phase Knowledge Comprehension Liking, Affective Interest, Yielding, Interest, Desire Preference, Phase Evaluation Retention Conviction Behavioral Action Purchase Adoption Behavior Phase
  15. 15. How People Make Buying Decisions • A 30¢ pack of gum takes 30 seconds • A $300 TV set takes 3 days • A $30,000 car takes 30 days • A $300,000 house takes 3 months
  16. 16. How People Make Buying Decisions • 70% of consumers make purchase decisions based on input from people they know • 40% will use information from experts or other consumers • Only 5% trust marketers
  17. 17. How People Make Buying Decisions
  18. 18. How People Make Buying Decisions Female Brain
  19. 19. How People Make Buying Decisions Female Brain Male Brain
  20. 20. Why People Don’t Buy Products • I don’t need what you’re selling • I don’t have the money • I don’t have the time to investigate this right now • I don’t trust you
  21. 21. Let’s Talk About Social Media
  22. 22. Yesterday: The Good Old Days
  23. 23. 21st Century Marketing Model
  24. 24. How the Fortune 500 Make Money with Social Media
  25. 25. Social Media Business Models Branding: Use social media as a branding tool to build awareness and connect with customers
  26. 26. Social Media Business Models E-Commerce: Drive prospects to an e-commerce landing page and convert those prospects to customers
  27. 27. Social Media Business Models Research: Use social media as a research tool to generate customer input and feedback
  28. 28. Social Media Business Models Customer Retention: Use social media as a customer retention tool to reduce churn
  29. 29. Social Media Business Models Lead Generation: Drive leads to a website and re-market to those leads, ultimately converting them to customers E-Newsletter YouTube Channel Email Marketing Forums Speeches You Live Events Twitter eBooks Virtual Events Mobile Apps Blog Postings Webinars
  30. 30. Social Media Tools and Techniques Connect Promote Share
  31. 31. Tools that Help You Connect Connect
  32. 32. Tools that Help You Connect
  33. 33. Tools that Help You Connect
  34. 34. Tools that Help You Promote Promote
  35. 35. Tools that Help You Promote
  36. 36. Social Media Tools and Techniques Share
  37. 37. Social Media Tools and Techniques
  38. 38. Social Media Tools and Techniques
  39. 39. How to Measure a Social Media Campaign
  40. 40. Three Categories of Measurement Quantitative Qualitative ROI • Facebook fans • Survey responses • Marketing mix • Twitter followers • Customer feedback models • Unique page views • Brand sentiment • Conversions and • Etc. • Etc. NPV • CLV and ACPS • Etc.
  41. 41. Quantitative
  42. 42. Quantitative: Traffic
  43. 43. Quantitative: Online Chatter
  44. 44. Quantitative: Breadth of Engagement
  45. 45. Quantitative: Leads Generated 60 Second Marketer Website E-Newsletter YouTube Videos Forums Speeches Downloads Events Twitter eBooks Blog Postings :60 Online :60 Online University Blog Online Seminars University Articles and Webinars
  46. 46. Quantitative: Depth of Engagement
  47. 47. Other Quantitative Metrics 1. Inbound links 2. Social bookmarks 3. Likes on Facebook 4. E-book downloads 5. Ratings 6. Participation in polls 7. Contest entries 8. New e-newsletter subscribers 9. E-newsletter unsubscribers 10. Bounce rate
  48. 48. Qualitative
  49. 49. Qualitative: Polls, Questions and Customer Feedback
  50. 50. Qualitative: Polls, Questions and Customer Feedback
  51. 51. Qualitative: Brand Sentiment
  52. 52. ROI
  53. 53. ROI: Customer Retention It costs 3 to 5 times as much to get a new customer as it does to retain an existing customer. By keeping customers engaged, involved and active with your brand, you’ll be preventing them from changing their loyalty. 60SecondMarketer.com -> Videos -> Branding
  54. 54. ROI: Customer Retention
  55. 55. ROI: Conversion
  56. 56. Calculating Customer Lifetime Value The revenue generated by a customer during his or her lifetime with your brand. CLV for Scott’s Lawn Care: $80 per month x 12 months x 3.0 years CLV = $2,880 Allowable Cost Per Sale: $2,880 x 10% = $288
  57. 57. Calculating Customer Lifetime Value Scott’s Direct Mail: 200 pieces x 0.5% = 1 new customer $1.44 per piece x 200 = $288 Allowable Cost Per Sale = $288 1 customer for every $288 spent Scott’s Annual Direct Mail Spend: $2.8 million = 2 million pieces x 0.5% = 10,000 new customers per year
  58. 58. Calculating Customer Lifetime Value Testing Direct Mail vs. Social Media $2.8 million x 10% = $280,000 to test a social media campaign Social media campaign costs: Labor: $140,000 Production: $100,000 Miscellaneous: $ 40,000 Total: $ 280,000 Social media success: $280,000 spent in direct mail = 1,000 new customers $280,000 spent in social media = ?
  59. 59. 60SecondMarketer.com/SocialMediaROI
  60. 60. Contact Me The Download 60SecondMarketer.com/SocialMediaROI Follow me here: 60SecondMarketer.com/blog @AskJamieTurner Contact me: Jamie.Turner@60SecondMarketer.com 404-233-0332

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