The Business Benefits of Social Media

What does social media mean to you?

What is social media not about?

What is Social Media about?

Being remarkable

Being talked about

Creating fans/evangelists

How can you be remarkable?

re mark (from ⋅ dictionary.com)    /rɪˈmɑrk/ Show Spelled Pronunciation [ri-mahrk]–verb (used with object)1. to say casually, as in making a comment: Someone remarked that tomorrow would be a warm day.2. to note; perceive; observe: I remarked a slight accent in her speech.3. Obsolete. to mark distinctively.

How can you generate buzz?

1. Who are the 20% that will deliver 80% of your buzz?

2. How sticky is your message?

3. Is it the right time and place?

How can you create evangelists?

Who are they? Identify the passion

How can you organise them? Ignite the passion

How can you help them to spread the word? Scale the passion

Who are they?

CMI Workshop: Who are our evangelists?

Evangelist #1

Evangelist #2

Evangelist #3

Who are our present and potential evangelists?

Who do they talk to?

Who talks to them?

What else do they talk about?

What motivates them to talk?

Why do we want them talking about us?

•Who are your best customers?

•Who are your biggest fans?

•Who do they talk to?

•Who talks to them?

•What motivates them to talk?

•Why do we want them talking about us?

Why will they talk?

CMI Workshop: Why will our evangelists talk about us?

Evangelist #1

Evangelist #2

Evangelist #3

Our unique product?

Our excellent events?

Their own interest?

Our shared cause?

•Do your products amaze?

•Do your products disappoint?

•Does talking about you improve their image?

•Is there a shared cause?

How can you organise them?

User generated

content

Conversation

Collaboration

Community

Collective Intelligence

Ease of implementing

Ease

of un

dersta

nding

•Bring customers into the fold

•Let them help each other

•Let them design their own services

•Build communities of practice

•Provide a marketplace for ideas

Some take-aways to remember

Word of mouth is the most trusted form of media (eMarketer)

Acquiring a customer costs 5 to 10 times more than retaining one (eMarketer, 2002).

Repeat customers spend, on average, 67 percent more (Bain and Co., 2002).

After 10 purchases, a customer has referred up to seven people (Bain and Co., 2002).

Pop Quiz

The bubbly has to go! (unless it has already gone in which case this is just for fun)

What is the average number of Facebook friends?

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