5 Distinctions to Guide your Social Media Efforts
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5 key distinctions to guide your social media efforts 16 May 2013 Toronto Board of Trade
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Closing presentation for IIAC 2013 Social Media Conference, Toronto Board of Trade, May 16, 2013. By Jay Palter.
Transcript of 5 Distinctions to Guide your Social Media Efforts
5 key distinctions to guide your
social media efforts16 May 2013
Toronto Board of Trade
5 key distinctions
• Tactics vs. Strategy
• Paid vs. Owned vs. Earned Media
• Creating vs. Curating Content
• Personal vs. Professional Brand
• Giving vs. Getting
Social media without a strategy is like having a map and compass but no destination.
People don’t buy what you do, they buy why you do it.
~ Simon Sinek
Why
How
What
5 key distinctions
• Tactics vs. Strategy
• Paid vs. Owned vs. Earned Media
• Creating vs. Curating Content
• Personal vs. Professional Brand
• Giving vs. Getting
Paid vs. Owned vs. Earned
The influence economy
Currency
Assets“Earned media”
Goodwill
=
=
=
Networked people and content
Transactions
Social capital
Your network
Before After
The long tail
• Content drives traffic• Traffic accumulates over time• Head equals long tail
3 days 3 years
5 key distinctions
• Tactics vs. Strategy
• Paid vs. Owned vs. Earned Media
• Creating vs. Curating Content
• Personal vs. Professional Brand
• Giving vs. Getting
We are all publishers
• We have new competitors –!the financial media are competing with us for the attention of our market.
• We must adapt our marketing – mass media strategies produce diminishing returns.
• We must become creators and curators of GREAT content.
Samples of great content marketing in financial services
Amex OPEN Forum
Sun Life’s Brighter Life
• Discover, add context and share
• Be a reporter
• Create signal among the noise in a crowded information landscape
Curate remarkable content to build your brand
5 key distinctions
• Tactics vs. Strategy
• Paid vs. Owned vs. Earned Media
• Creating vs. Curating Content
• Personal vs. Professional Brand
• Giving vs. Getting
Build personal brands
Personal is professional.
Relationships are grounded in personality.
Personal brand is what people say about you when you leave the room.
– Jeff Bezos, Founder, Amazon.com
In other words, what you tell people about your brand matters less than what they tell each other.
5 key distinctions
• Tactics vs. Strategy
• Paid vs. Owned vs. Earned Media
• Creating vs. Curating Content
• Personal vs. Professional Brand
• Giving vs. Getting
Not everything that counts can be counted and not everything that can be counted counts.
Social media ROI
• Must take a long-term view
• Measure returns in terms of reputation, brand, retention, share of wallet AND new business
• Focus on what you’re GIVING to social, not only what you’re GETTING out of it
The 5 key distinctions...
• Tactics vs. Strategy
• Paid vs. Owned vs. Earned Media
• Creation vs. Curation Content
• Personal vs. Professional Brand
• Giving vs. Getting
...are tied to 5 key take-aways
• Develop your strategy
• Build social capital
• Create and curate remarkable content
• Weave personality into your brand
• Focus on giving, not just getting
People do business with people they know, like and trust.
780-868-8433
Copyright 2013 Jay Palter. All rights reserved. Not for reproduction or distribution without written consent.
JayPalter.ca
twitter.com/jaypalter
www.linkedin.com/in/jaypalter
