Social Media - Why use it? What's the ROI?

©  RiverRhee Consul.ng 2013

Social Media – why use it? What’s the ROI?

Elisabeth Goodman

Cambridge Network Breakfast Mee.ng

25th April 2013

Enhancing Team Effectiveness


15 minutes to explore!

1.  RiverRhee Consul.ng’s / my experience of Social Media

2.  Other people’s experience (from the survey)

3.  Challenges and .ps for ROI

4.  Further reading!


RIVERRHEE CONSULTING’S / MY EXPERIENCE OF SOCIAL MEDIA

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Why am I teaching people about Social Media tools?

A good adjunct to my business

1.  I’ve learnt how to use social media tools to meet my needs over several years

2.  People have been asking me to teach them

3.  Social media tools are a good fit with Knowledge Management

–  They enable people to share what they know and learn from others

My stats..

•  LinkedIn –  Since March 2006

–  758 connec.ons

•  Blogs (Wordpress) –  Since July 2009; –  609 followers; 77 posts

•  Twi`er –  Since Aug 2009 –  570 followers; 2400+ tweets

•  Facebook –  Since Dec 2009

•  Google+, Pinterest – early days


What has been my ROI in terms of paid work?

Social Media training / wri.ng

1 to 1 tutorials 2009 -‐>

St John’s seminars 2010-‐ 2011

Ar.cle (in FUMSI) 2012

Workshop Cambridge Network 2011

Work with previous colleagues

Approx. 99% & 75% turnover 2010-‐2011

Approx. 75% turnover

2012/2013

New clients

Gower publishing 2012 -‐>

Warm leads

2013

New associates

Collabora.on

2012 -‐>


Social Media tools also deliver other ROIs

They help you to:

  Build your reputa.on

  Build your network of connec.ons

  Build your knowledge

They complement face-to-face networking and marketing to lead to referrals and clients..


My networking & marke.ng media

Library and Informa.on Science

Life Sciences Cambridgeshire & Herkordshire

Team Effec.veness

NetKIX

CILIP

UKeIG

TFPL

Blogs

Twi`er lists

OneNucleus

GSK & ex-‐GSK contacts

StevBioSciCat

Various LinkedIn groups

Twi`er lists

The Cambridge Network

APM East of England

Various LinkedIn groups

Blogs Ex-‐GSK contacts

APM

IQPC Associates

Facebook

OneNucleus

Melbourn BA

Royston CoC

LBIC


OTHER PEOPLE’S (SURVEY) EXPERIENCE OF SOCIAL MEDIA

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Profile of 19 respondents (some anonymous)

Robin Higgons Qi3 Ltd [email protected]

Karen James, Lilac James

QTP Environmental Ltd. 01223 269400 [email protected] Amanda Brown, Managing Director, Alterra Amanda@alterra-‐

consul.ng.co.uk 07947 502760

Mark Collingwood www.tonicfusion.com Tonic Fusion 01727810254

Jamie Lesinski, Crossbar-‐fx, [email protected] 02031957136, @jamielesinski @crossbarfx

Ed Goodman, Cambridge Business Lounge, 01223 324040

Richard Wishart, Delivery Management Ltd richard.wishart@del-‐mgt.com

Goncalo Syndicate room

Alexandra Murphy Cambridge Network [email protected]

1 – 25+ people in:

Training

Marke.ng (Social Media)

Accoun.ng

Financial management

Mobile phones apps

Distributor

Payment services

Analy.cal & formula.on Design

Informa.on services


To support web ac.vity

Main reasons for using Social Media

Establishing myself as a world wide expert

Building trust with clients on a

personal level

Managing contacts and

keeping in touch

Job promo.on

Lead genera.on

Informa.on gathering

Networking, discussion

Other par.cipants are clearly and strongly linked to my business stream Communica.ng to

target markets & influencers

Promo.ng company news and events

Personal and business

development

Broadcas.ng knowledge

Building reputation Building connections Building knowledge

To reach our network without spending vast amounts of money


Social Media tools used

YouTube eMarketing integrating social media No other


Time spent per week


Your ROIs

•  Much greater reach to new and exis.ng clients. •  Avoiding “castle guard protec.on systems” •  Less about "them and us" sales; more about sharing needs and solu.ons. •  Get a real feel for people’s and companies’ problems. •  A fresh, personal and free way of learning more about clients & sharing on their terms. •  Engaging my client with a specific director in a hotel group gained a contract for

£100,000+ via strategic use of LinkedIn. •  Another client gained by responding to Twi`er ques.on – short-‐term project valued at

£1,500. •  ‘Selflessly retwee.ng' content important to prospec.ve clients = sort of statement of

intent. •  Retweets by others -‐ “I do consider this as a benefit” •  Signs-‐ups and direct contacts from LinkedIn •  Not having to travel so much to overseas conferences. •  Maintaining my influence networks with relevant and persuasive original content.

•  Followers / website hits, interac.ons, contacts and business (proposals) (16) •  None (3)


CHALLENGES AND TIPS FOR ROI

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Your challenges / strategies

•  Effort and .me vs. ROI

•  Lack of flexibility; customisa.on

•  Misuse / unprofessional use of tools by others

–  Twi`er -‐ rescheduling tweets –  LinkedIn -‐ headlines w/ no

follow-‐up interest •  Ge|ng corporate and worldwide

target audiences onto the tools

•  Confiden.ality agreements limit what we can share

•  Keep up to date by con.nuously researching the plakorms and developing processes to streamline their effec.veness (a strategy)

•  Proper training applied to proper, tailored, strategy –  Key words op.misa.on

–  Knowing the best .me of day to post on each plakorm

–  Keeping it relevant –  Standing out in a sea of dross –  Ve|ng connec.ons on LinkedIn;

using others’ connec.ons for introduc.ons

–  Using the tools con.nuously and consistently

–  ‘Dance as if no-‐one is watching'


A possible framework for your social media strategy

Define your business goals

Iden.fy and analyse stakeholders

Assess the environment – what else is happening?

Iden.fy key messages

Select your tools & their use

Define measures of success & monitor


10 top .ps for greater ROI from Social Media

1.  Decide what you want to use Social Media for (reputa.on, connec.ng, knowledge etc.)

2.  Develop a strategy

3.  Create personal profiles and business pages

4.  Make your target customers and key offerings clear throughout

5.  Listen and search, acknowledge and support others

6.  Match your frequency and tone of updates to the tool

7.  Join and par.cipate in relevant groups (and #tags)

8.  Use ‘front-‐ends’ that help you to connect your use of tools, schedule updates etc.

9.  Have links to your Social Media profiles from your web site, business card etc.

10.  Get support from others e.g.

–  Other employees, associates post links to your Social Media business pages, retweet etc.

–  Guest blogs,

–  Marke.ng businesses The 3’I’s: Inform, Interact, Inspire!


A selec.ve list of further reading •  h`p://malharbarai.com/2013/04/11/10-‐

reasons-‐business-‐blogging-‐is-‐be`er-‐infographic/

•  h`p://www.damarque.com/blog/gianluigi-‐cuccureddu/six-‐reasons-‐why-‐b2b-‐twi`er-‐audiences-‐are-‐poor-‐quality

•  h`p://cooperlomaznews.co.uk/teams-‐twee.ng-‐and-‐genera.on-‐y-‐why-‐business-‐should-‐welcome-‐ways-‐of-‐working-‐from-‐a-‐new-‐genera.on

•  /h`p://www.damarque.com/blog/gianluigi-‐cuccureddu/forrester-‐four-‐major-‐goals-‐enterprise-‐social-‐networking-‐integra.on

•  h`p://www.damarque.com/blog/gianluigi-‐cuccureddu/unlocking-‐social-‐technologies-‐untapped-‐poten.al-‐annual-‐value-‐13-‐trillion

•  h`p://commconn.co.uk/2013/02/20/what-‐to-‐quote-‐when-‐your-‐boss-‐asks-‐why-‐do-‐we-‐need-‐social-‐media/

•  h`p://www.b2e-‐community.com/profiles/blogs/it-‐is-‐not-‐about-‐roi-‐but-‐roe-‐on-‐social-‐media?xg_source=ac.vity

•  h`p://elisabethgoodman.wordpress.com/2010/07/24/social-‐media-‐pu|ng-‐you-‐and-‐your-‐business-‐at-‐the-‐heart-‐of-‐your-‐community/


[email protected]

07876 130 817

h`p://www.riverrhee.com

LinkedIn: h`p://www.linkedin.com/in/elisabethgoodman

h`p://www.linkedin.com/company/riverrhee-‐consul.ng

Facebook: h`p://www.facebook.com/pages/RiverRhee-‐Consul.ng/243697391737

Blogs:

h`p://elisabethgoodman.wordpress.com h`p://riverrheeconsul.ng.wordpress.com

Twi`er:

h`p://twi`er.com/ecgoodman

Enhancing Team Effectiveness

Social Media - Why use it? What's the ROI?

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Transcript of Social Media - Why use it? What's the ROI?