Social Media Has Ruined Your Business
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Social Media Has Ruined Your BusinessMay 12, 2010
Courtesy of
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they say you need to be on social media
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but why?
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to build a farm for your company?
Image from techieglue.com
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or to be compared to an onion ring?
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and facebook’s just the beginning
TumblrWakoopa
YelpYouTube
Vimeo
foursquareFlickr
Google Buzz BeboBlip.fm
TwitterLast.fmLinkedIn
MyBlogLogMyspace
DeliciousDigg
FriendFeedFlixteriLike
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it’s a lot of effort just to be “Liked”
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and ads reach more people than status updates
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so why bother?
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because the times, they are a-changin’
Image from The Selvedge Yard
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the old rules no longer apply
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Generation Y now outnumbers baby boomers
96% of those under 30 are on social networks
Stat from Forrester
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we no longer find the news, the news finds us
24 of the 25 largest newspapers have declining circulation
Stat from socialnomics.net
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90% of shoppers seek opinions online first
78% trust recommendations; 14% trust ads
Stat from socialnomics.net
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70% trust recommendations of people they don’t know
one online conversation = the impact of 200 tv ads
Stats from Nielsen, BuzzAgent
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97% of consumers use online media to shop locally
58% report using an online coupon in their local area
Stats from BIA/Kelsey Group
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one customer? one influencer?
what’s more valuable to you?
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People on Facebook
400,000,000
Stat from Facebook
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Active Users That Login Daily
50%
Stat from Facebook
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Average Friends per User
130
Stat from Facebook
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Average Clickthrough Rate on Banner Ads
0.2%
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Average Clickthrough Rate on Wall Posts
6.5%
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More Likely to Buy After Becoming a Fan
51%
Stat from Chadwick Martin Bailey
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More Likely to Recommend After Becoming a Fan
60%
Stat from Chadwick Martin Bailey
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29Stat from Facebook
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People on Twitter
75,000,000
Stat from themetricsystem.rjmetrics.com
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More Likely to Buy After Following
67%
Stat from Chadwick Martin Bailey
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More Likely to Recommend After Following
79%
Stat from Chadwick Martin Bailey
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People on LinkedIn
65,000,000
Stat from LinkedIn
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Fortune 500 Companies with Executives on LI
100%
Stat from LinkedIn
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People on YouTube
120,000,000
Stat from YouTube
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Internet Bandwith That Goes to YouTube
10%
Stat from AllFacebook
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YouTube Traffic that Arrives Directly
54%
Stat from YouTube
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People on foursquare
1,000,000
Stat from foursquare
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Number of Checkins
40,000,000
Stat from foursquare
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Number of Checkins Five Weeks Ago
22,000,000
Stat from foursquare
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getting set up
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set up google alerts
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set up google analytics
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get profiles on relevant networks
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claim your business
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start tracking your reputation
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the top 10 things to know before you start
Stat from Forrester
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1. Have a Purpose
have goals behind your strategy and work to achieve them
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2. Be Authentic
nobody cares about your pitch, they care about communication
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3. Be Transparent
be honest, be open and tell the truth
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4. Understand and Allow Community
if given the opportunity your community will monitor itself
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5. Always Offer Value
your customer doesn’t owe you anything
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6. Dollars and Time Aren’t Free
like all advertising you get what you put into it
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7. Challenge Yourself
jump in; only you or your competitor can be first
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8. Steal From Your Customers
sometimes they have the best ideas, use them as a focus group
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9. Online Isn’t an Island
treat social as an outpost; an extension of offline efforts
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10. Track Results
set yourself up for success and track your ROI
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socially engaged companies are more successful
12-month revenue growth, wallflowers: -10%
12-month revenue growth, mavens: 18%
Stat from Altimiter ENGAGEMENTdb
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“The ROI of social media is thatyou will still exist in 3 years.”
Stat from socialnomics.net
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social media has ruined your business
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and can build you a new one
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Thanks!
Rick Jessup
[email protected]@RickJessup
www.rickjessup.comwww.58ninety.com
Thanks to for the invite!
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why listen to Rick?
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who is this guy
• Online in 1990
• Web design in 1995
• Blogging in 1996
• Speaking on digital in 1997
• Over 20 years of web experience
• Over 15 years managing strategy