4/28/2010. Prediction

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1 Impact of Social Media on Small Business Internet Marketing Mike Andrew Consulting Web Site SEO Social Media Strategies Internet Marketing The biggest threat to small business today is not Technology -It s a business that uses Technology against it s competitors, to source new customers and increase sales. Prediction If you and/or your company don t embrace social media in some way in the next 2 years, you face becoming irrelevant to your customer, they are moving faster than you, if you don t keep up they won t need you. 1

2 Time to Think Are you or your business ready to market to the digital community of the Future? Are you aware of the impact of social media sites on consumer search habits and changing communication trends? Have you developed a strategy for your business that adopts new technology and On Line Strategies that will help to build business? What is Social Media Social media is a new kind of media which shares most or all of the following characteristics: Participation Openness Conversation Community Connectedness Basic Forms Of Social Media Social Networks Blogs Wikis Podcasts Vlogging Forums Content Communities Microblogging 2

3 Social Media is Like Minded People Looking For Like Minded People Social Media & The AustralianOn Line Consumer 2010 Search Engine Marketing Traditional Forms of Advertising are declining: 75% of people didn t use yellow pages last year. 58% of people didn t use yellow pages the year before 80% of people use the internet to research purchase decisions So what does it mean? It means that unless you can get found in the search engines, your business will slowly starve and eventually die. Generation X and Generation Y don t use Yellow Pages, they don t read newspapers, they don t watch much TV, and most of their business, social interactions, and shopping research is done on the internet. # Figures supplied by the Commonwealth Bank * Figures based on AOL research in

4 Social Media in Australia 9 Million Australians now engage in social media every month Content sharing is amongst the most popular activites 14% of Twitter users follow brands and companies online 9 out of 10 AustralianInternet users look to fellowinternet usersfor opinions and information on & about products, services and brands. 43% of Australiansnowowna smart phone 26% of social networkersuseda mobile to interactwitha social network 66% of mobile social network usersare under35. Source: Nielsen-Online Survey March 2010 Australians Love Social Media Second highest time spent on social media sites in the world FastestGrowingSocial Media ActivitesMarch 2010 Source: Nielsen On Line March

5 Most Popular Social Media Sites March 2010 Source: Nielsen On Line March 2010 Global traffic continues to grow Roadblocks The Emu Effect 5

6 Roadblocks Resources Amount of time spent on social media activities for business depends on how experienced in social media marketing the business is Less then 6 months More than 2 years Small Business Use of Social Media Dependson the Age of The Business The younger the business and business owner, the more likely they are to use social media as a marketing and brand building method 6

7 Small Business Use of Social Media Dependson the Age of The Business Twitter usage by Age of Business The younger the business, the more likely they are to use microblogging sites such as Twitter The Impact Of Social Media on Brand Building How does social media Impact brand? Every single day, someone, somewhere is discussing something important to your business; your brand, your executives, your competitors, your industry. Are they talking-up your company, or, are they criticizing your service & complaining to others about you & your business?" It could even be your own employees!! 59% of people use social media to complain about customer service. The biggest group using social media to research companies on line are yr olds. 7

8 Companies and Individuals are often targets Comments appear on Google, importance now given by Google to real time social search The Impact Of Social Media on Search Impact of Social Media on Consumer Internet Search Social Media has a real time impact on 3 core areas of small business Internet marketing: Customer/Lead Generation On Line Reputation Search Engine Rankings& Real Time Search 8

9 Facebook Overtakes Google Social Media vs Google Search Engines Give Priority to Social Media 9

10 Designing Your Business Social Media Strategy The Key Factors A web site is only a small part in creating a social media strategy This is a web site This is a web presence Social Media Strategy A Social Media Strategy drives SEO in Local geographic areas Is a sustainable option for small business, in most cases it is a Freeresource Provides Communities that small business owners can tap into and network Opens up communication channels and provides marketing channels for your brand or products 10

11 Key Factors in a Social Media Strategy Culture Doesthe organisation have a culture of sharing Technology Whatisthe current technologycapability withinthe organisation Resources Do youhave sufficentresources to actively manage a social media strategy? RiskManagement Social media exposes firms to significant risks including serious damage to the company s reputation. Key Factors in a Social Media Strategy These are the key areas of the strategy: On Line Reputation management Blogs Social Networks Which are the networks to use Policies and Procedures Language/Communication Defined by demographic Engagement Strategy for each network Facebook/Twitter etc Technology - How to automate updates and interaction Customer Service Training Office and staff Promotions Roll out phase The How, What & When ROI monitoring return on investment Opportunities Consumers want to interact with you via social networks Social media is a word of mouth activator Use it to drive engagement It s not about what users can do for the brand, it s about what the brand can do for users Create your brand as a market place Social media allows brands to market with people instead of AT them Build community on line through engagement and interaction Create applications for users to interact with you Create the personal space and communicate with online consumers via blogs -Blogs engage, inform and communicate. Search engines such as Google loves blogs because of the frequently updated content they contain, these should be the focal point of your social media strategy. They are cost effective as the templates (Wordpress) are open source and only need a domain name and hosting to run them on the web. 11

12 Social Media Networks Provide: Extension of brand identity Establish on line communities Provide personalised interaction Opportunities At the same time social media sites create novel forms of risk that can t always be mitigated through traditional risk management channels: Facebook Linkedin MySpace Twitter Blog sites Forums All these sites provide for anonymously supplied information abut your products, brand or services, in some cases inaccurately. Where do you start? It s a little overwhelming & Confusing!!!! & hard to find your way Think - Before you begin building your network 12

13 Think Strategy Ask Questions What are the best sites to use? Where are my employees? Who do I want to connect with? What are my objectives? Have I the Resources Available? How do I Measure if it works How do I find my target audience? Think - Direction Don t start unless you have decided your direction Sales Community Engagement Lead Generation Customer Service Recruiting The expert in your industry All of the above Build your Brand into a community Brand is often missing in social media It s not just about being out there & participating, it s about being authentic and bringing value to your customer network 13

14 On line brand communities are - Built on real value to the consumer Built on connected and shared experiences Built on creating deeper relationships Built on promoting a sharing culture Define your objectives Outline the business objectives or goals for building your community Define what success looks like to you Allow time for your community to build The secret to a successful social media strategy is: Listen, listen, listen Create the handshake before you enter the conversation Engage your customers/followers by providing relevant information It is not only about product but information that your followers find valuable Encourage engagement & conversation & promote Build community Don t shout about your brand or your experience Become the expert, the GO TO person Offer incentives, coupons or giveaways, downloads, podcasts or e-books 14

15 Content is King Choose Your Social Media Sites Strategically Strategy Follow Create Engage Customer Relations Your customers & potential customers Content relevant to your customers; tips, company info etc Answer questions, respond to comments about your brand Crisis Management Your brand, product and relevant issues Direct to additional resources, updated information, explanation Answer questions, respond to comments, raise issues, provide info Corporate Reputation Management Industry leaders, similar interest groups, news/media Insights, expertise, become an industry leader Jump in to the conversation, be transparent and add value Event Coverage Those interested in attending events, media etc Event information updates, behind the scenes coverage Set up Tweet ups, talk to attendees, ask & answer questions Product Promotion & Sales Current & potential customers, those interested in similar products Links to on line promos, insider info on up coming events or sales Check replies and DM s, answer questions, provide info when needed Issue Advocacy Those interested in State legislation, industry leaders & news Added value, charity events, community alerts Know your followers, thank them for support, get them involved Copyright Mike Andrew Real Estate Marketing

16 Internet Reputation Risk Management Plan Internet Reputation Risk Management Plan This plan should address what visitors to your site express, what your employees share on other sites and most significantly what things are said about your business on sites over which you have no direct control. Here s where to start protecting your reputation on the Web: Create Google alerts on your brand name, web site and products Actively engage on social network sites to understand how reputation can be impacted by the interactions Gather information on the social media activities your company is considering. Then assess the areas of vulnerability, create counteraction plans and communicate them to employees. Dedicate at least one employee to the monitoring of your online reputation Build a process to identify new reputation risk elements as social media evolves or outsource this to an independent company. The risks enterprises face as a result of participating in social media are real. But so too are the benefits. Therefore don t let risk blind you from taking advantage of the transformational communication opportunities arise from social media. 16

17 How to Manage Your ORM There are 3 core components that are referred to as the 3 slices of the ORM pie, these 3 key elements make up ORM as a strategy How to Manage Your ORM Manage Having a strategy to monitor your brand on line is today essential Having a solid understanding of how to deal with these issues Having multiple conversation channels available when needed Actively building your brand in a positive light Monitor Why you should be monitoring your brand on line What you should be monitoring (Keywords, Key Phrases) How you should be monitoring (Tools) Repair Knowing the reasons people write what they do on line Dealing with issues in the right manner (Being professional and non threatening) Being proactive Risk Management Risk management is perceived as the opposite of business agility. In reality, risk management is about building a more agile enterprise that is enabling an organization to take the greatest amount of risk in the safest way possible. It s not about saying no to taking a risk; it s about how to say yes. 17

18 What is Social Media E-Book Additional Resources For more information, articles and helpful advice visit Mike s Blogs at: Services offered, Social media strategies for small business, web site SEO, Internet Marketing. If you d like to work with Mike, me on info@mikeandrewconsulting.com Mobile number: