Ch 1 The role of social media marketing

the role of social media marketing

-many business struggle with social media marketing because they lack a definite plan -strong strategic plan required for success -must include: goals and objectives, monitoring plan

#3 there is no return on investment on SMM

-measuring the return requires planning, execution, monitoring, and the discipline to analyze and gain business insights. -social media return is measured in a variety of ways

#2 social media is just for the young

-older users are among the fastest growing demographics on most social media sites

#1 social media is just a fad

-social media continues to grow by virtually any measure you use -the foundations are build on age-old concepts: community, socialization, WOM marketing

What is SMM?

-social media marketing (SMM) refers to the process of gaining website traffic or attention through social media sites: -important aspects: 1. creating buzz, videos, tweets, or blog entries that may become viral 2. building ways that enable fans of a brand to promote a message themselves 3. based around online conversations 4. part of a larger media ecosystem of owned, paid, and earned media used in marketing

the role of social media marketing

-social media refers to websites and applications that enable users to create and share content or to participate in social networking

#4 SMM isn't right for the business

-the greatest benefits tend to occur early in the sales cycle, not at the point where purchases are being made or sales are being closed

The seventh myths of SMM

1. Social media is just a fad 2. social media is just for the young 3. There is no return on investment on SMM 4. SMM isn't right for this business 5. SMM is new 6. Social media is too time-consuming 7. social media is free

Best practices for SMM

1. begin with a strategy backed by a SMM Plan 2. Be honest and transparent in all your social media efforts 3. identify your target audience, and understand its media behavior before you begin 4. welcome participation and feedback from your audience 5. remember that what you know today may not be valid tomorrow. SMM changes with the speed of technology

#7 social media is free

1. there is a cost in terms of personnel time and resources 2. there is a cost to producing and creating content 3. many business engaging in social media invest in a guide or consultant to help them through the process

Why SMM is Different

Distinguish SMM from traditional marketing (promotion): 1. control (traditional) vs. contributions (SMM) 2. trust building; be earnest, down to earth. -trust is slow to earn, but easy to lose SMM is a unique combination of marketing creativity and technology

Careers in SMM

Many positions available -blogger -comm manager -digital media manager -director, social media marketing -engagement manager -interactive media associate -social media account executive

Types of media

Paid media- traditional advertising-print, television, radio, display, direct mail, paid search, retail channel Owned media- corporate website, campaign microsite, blog, brand community, facebook fan page, mobile Earned media-worth of mouth, FB comments, mentions, replies, vine, blogs, forums, review sites

What are the characteristics of a successful social media marketer?

Tips for jobseekers: -stay on top of social media trends -be prepared to think and act quickly -be comfortable with analytics -learn to write for social media -establish and maintain your social media presence -In all you do, show yourself to be an effective user of social media

Careers in SMM

Virtually nothing in 2003 Now measures in billions -from billions of users to billions of dollar in sales influenced by social media That growth has fueled the number of jobs in the field

#6 social media is too time-consuming

does require a consistent time commitment, but doesn't have to be time consuming when done right. There are 3 key ways to limit the time investment in SMM 1. look for underutilized employees who can spend some of their time on SMM 2. leverage efficiency tools, such as Hootsuite, Tweetdeck, and CoTweet which make managing social media easier 3. use mobile devices to boost efficiency in SMM

What are the characteristics of a successful social media marketer?

good communication skills -able to engage w/ a diverse group -being a good listener -good writing skills Working knowledge of computers and the internet -programming not required Knowledge of search marketing desirable Proficiency on at least 3 leading social media platforms -FB, Twitter, LinkedIn

Ecosystem of media

the most valuable media is earned media -people spread the word with no additional effort for the marketer -digital WOM confers much credibility on the brand

#SMM is new

the technology is new, but the principle is not -most of the marketing principles, based on social, behavioral, and economic concepts, have been around many years -the newest aspect of social media is the technology that enables open and transparent online conversations