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Social Media

Social Media. Why it means so much for business. Social Media in Business is important to help communicate with consumers and help shape their ideas about products or services by delivering engaging content. Social Media Defined.

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Social Media

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  1. Social Media Why it means so much for business

  2. Social Media in Business is important to help communicate with consumers and help shape their ideas about products or services by delivering engaging content.

  3. Social Media Defined • According to Wikipedia social media is the following: “Social Media is the interaction among people in which they create, share and exchange information and ideas in virtual networks and communities.” • In this day and age everyone is empowered as both a producer and consumer of information on social media

  4. Why Utilize Social Media? • 97% of consumers are searching online for products or services • It is important for all business to have a strong social media presence to promote engagement and positively effect the bottom line.

  5. Social Media User Increase • YouTube more than 100 million video uploads per day • Facebook over 200 million active users • Twitter over 3 million posts per day • Google+ over 500 million users

  6. Building Lasting Relationships • Engage customers in social media conversations that keep them aligned with the brand, the message and the style. • Communication is very important. • Listening, responding, respecting opinions and reacting correctly are key. • This process along with growth of the brand is called Social Management.

  7. Digital Brand Strategy Your social brand promotion in a digital world is very important and can be intensive. All forms of digital advertising and social media must be utilized to retain customers

  8. Just what are we looking at?Return on Investment! (ROI)Messaging, Branding, Target Market, Tactics and Products

  9. Lifecycle of Content Strategies • Content is most important in Social Media pertaining to business • It is a chance to let brand personality shine through • The Content Strategies Lifecycle is: Stimulus>Creation>Discovery>Reaction>Recycle

  10. Social Media Strategy • Marketing Research – links the consumer, the customer and the general public through effective communication of relevant information. • Identify and define marketing opportunities. • Monitor marketing performance. • Generate, Refine and Evaluate marketing actions. • Improve the understanding of marketing as a strategic process.

  11. Key Performance Indicators (KPIs) • Business metric used to evaluate factors that are crucial to the success of the company and it’s activities. The KPIs differ through organizations but examples would be net revenue or customer loyalty calculations. • KPIs can be assigned to one or more of these 4A’s to tell a bigger story. Awareness Appreciation Action Advocacy

  12. Benchmarking • This is the process of comparing one business’ processes and performance metrics to industry best practices. • Typical measurements are Quality, Time and Cost. • Benchmarking shows the best in a company’s industry and compares those results to you own results. • Without benchmarking most metrics collected would not have much meaning.

  13. F.R.Y. • Actions on Social Media on behalf of a business are measured in the following way • Frequency = Number of times active and engaging content is distributed over social media for maximum exposure. • Reach = The number of unique people whom have seen your unique post. • Yield = Number of people who have engaged you on social media, engaged the company and done business as a result of social media efforts.

  14. Social Media Goals • Social Media brand strategies all eventually lead to the same place. The goal of delivering sales, leads and obtaining revenue MUST be delivered upon.

  15. Make it as easy as possible for as many people as possible to get involved on Social Media. • Don’t worry completely about metrics and stay focused on your established objectives.

  16. Only 14% of people trust advertisements but 78% of people trust the opinions of other consumers. • This is where social media strategy and brand management come in. • A strong presence gives the brand relevance in today’s world.

  17. Social Media makes it easier to reach more people like never before. It is definitely here to stay. We must all embrace it before we start lagging behind everyone else.

  18. Citations • Bennett, S. (2012, August 14). The 7 Side Effects Of Social Media [INFOGRAPHIC]. Retrieved July 23, 2015, from http://www.adweek.com/socialtimes/social-media-side-effects/468282 • King, C. (2013, February 10). 21 Social Media Marketing Tips From the Pros. Retrieved July 23, 2015, from http://www.socialmediaexaminer.com/21-social-media-marketing-tips-from-the-pros/ • Nearly All Consumers (97%) Now Use Online Media to Shop Locally, According to BIA/Kelsey and ConStat. (n.d.). Retrieved July 23, 2015, from http://www.prnewswire.com/news-releases/nearly-all-consumers-97-now-use-online-media-to-shop-locally-according-to-biakelsey-and-constat-87221242.html • Qualman, E. (n.d.). Statistics Show Social Media Is Bigger Than You Think. Retrieved July 23, 2015, from http://www.socialnomics.net/2009/08/11/statistics-show-social-media-is-bigger-than-you-think/

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