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Social Media - Ussco.com

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The Next Wavein E-CommerceKeynote AddressJune 4, 2009


Social MediaThe Next Wave in E-CommercePatrick Byrne


Agenda• What is social media• Social media myths• Why get involved• How to use social media for E-commerce• Measuring successPage • 5


What is Social MediaSocial Media…is redefining how we relate to each other as humans and how we ashumans relate to the organizations/brands that serve us…is a shift in how people discover, read and share news, information andother compelling content…requires businesses to communicate with, NOT at their consumers –ENGAGEMENT…gives consumers power…is still in its early stagesPage • 6


What is Social MediaPage • 7


Agenda• What is social media• Social media myths• Why get involved• How to use social media for E-commerce• Measuring successPage • 8


Social Media Myths• It’s a fad• It’s too complicated• It won’t work for my business• That stuff is for kids• It takes too much time• It costs too much• Can’t track the ROI or measure successPage • 9


The Reality is…facebook• #1 social networking site• Nearly 1.2 Billion monthly visitsTwitter• 19 Million visits worldwide in April 2009• Grew 1,382% year-over-year in FebruaryData based on findings of ComScore and Compete.comPage • 10


The Reality is…It’s not just for kidsSource: quantcast.comPage • 11


Agenda• What is social media• Social media myths• Why get involved• How to use social media for E-commerce• Measuring successPage • 12


Why Get Involved?Whether you choose to participate or not, people are talkingabout you and your brand…join the conversationPage • 13


Why Get Involved?Consumers trust their peers above all othersSource: Forrester Research, Inc. 2009Page • 14


Why Get Involved?• Targeted• Word of mouth• Widespread / Viral• Relatively inexpensive• Direct feedback• Conversion tracking• NimblePage • 15


Why Get Involved?Forrester predicts huge growth in social media spendPage • 16


Agenda• What is social media• Social media myths• Why get involved• How to use social media for E-commerce• Measuring successPage • 17


How to use social media for E-commerceWe must rethink our conventional way of marketingInterruption based marketing vs. permission (opt-in) basedmarketingTransparency/openness :‣ The old truth: “Perception is reality”‣ The new truth: “Reality is perception”Page • 18


How to use social media for E-commerceOutbound MarketingEmail BlastsDirect MailTrade ShowsPrint AdsBroadcast AdsInterruption vs. PermissionInbound MarketingSEO/SEMBlogsViral VideosRSSSocial NetworksNew MediaSocial media is inbound marketingPage • 19


How to use social media for E-commerceReputation Management• Listen/pay close attention• Examine what consumers are already saying about you• Finding your fit• React fast• Make your presence known• Acknowledge your advocates and opposers• Don’t only respond to positivesPage • 20


How to use social media for E-commercePage • 21


How to use social media for E-commerceCustomer Service• Social media is the new help line• As more and more companies adopt social media, consumers expectyou to be there to help• Exceed consumer/community’s expectations• Don’t be afraid to expose your shortcomings in public forum• Demonstrates trust with consumers• Shows you have nothing to hidePage • 22


How to use social media for E-commercePage • 23


How to use social media for E-commerceCustomer AcquisitionSocial media marketing campaigns• Focus on value proposition• Pick one thing and do it well• Make it a compelling story• Have a beginning and an end• Make participation easy• Market both online and offline• Cater to target audience – not the masses• Integrate with existing social networksPage • 24


How to use social media for E-commercePage • 25


How to use social media for E-commercePublic Relations• No longer dealing with only traditional media• Citizen journalists and bloggers swing big sticks• Over 120,000 blogs created each day• New media is segmented, easier to target• Easier access to reporters through social networks• Almost every customer is a potential journalist or evangelist for your brand• Social media releases vs. traditional press release• Cheaper• Easier for reporters and consumers to sharePage • 26


How to use social media for E-commerceSearch• Host, atomize and distribute content• Blogs• Vlogs• eBooks• etc• Increase linkability• Make sharing, tagging and bookmarking easy• Build keyword densityPage • 27


Agenda• What is social media• Social media myths• Why get involved• How to use social media for E-commerce• Measuring successPage • 28


Measuring SuccessSet goals before any social initiativeMetrics depend on campaign/iniciative• Unique Visitors• Sentiment +/-• Keyword rankings• Cost per unique visitor• Page Views• Time Spent (section, microsite,community)• Visits (specific to UGC/Social Media) Referring urls• Return Visits• Interaction Rate• Application/video downloads• Relevant actions taken (custom to widget or applicationcreative execution) and cost per relevant action.• e.g. Entry into sweeps, votes in a poll etc.Page • 29


ConclusionListen FirstBe TransparentBe ConsistentCommunicate WITH, not AT consumersHave a purpose and add value - don’t be there just to be thereThe conversation’s already going on…join in!Page • 30


Thank YouThank you for taking the time to attend our keynote addresstoday.Want to discuss this presentationwith fellow attendees?Head to the Networking Loungeto chat with peers!Remember to check out theagenda for the rest of the day!

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