Social Media for the CEO Event with Eve Mayer Orsburn
Facebook, Twitter, LinkedIn and YouTube are changing how businesses communicates.
CEO of Social Media Delivered
and author of Social Media For the CEO
, Eve Mayer Orsburn
, better known as the LinkedinQueen
, held a talk about social media for businesses at MMU
on Tuesday 19th April.
(Pic: Eve, Me & Matt)
Here's what we learnt:
Why is social media important?
According to Nielsen's 2009 study
- 90% of consumers trust online recommendations from people that they know.
- 70% of people trusted consumer opinions posted online from people that they don't know.
It is apparent that when it comes to purchase decisions in the current climate, online consumers are becoming increasingly dependent on feedback from shoppers like themselves (their peers).
Social media is a huge investment in time and money for businesses. According to the Social Media Delivered CEO, a business must invest 32 hours of time per month to master one social networking platform. Therefore, a company MUST establish its social media-related goal first - Is there a business goal? Is there a HR goal?
The 5 Steps For Social Media Success
Step 1 - Sssssh. Listen
- Listen to what people are saying about your industry, your company, your product and your service.
- Search what is being said about you. You are not able to control social media but you are able to influence it. So listen to the conversations around your brand, act on those conversations and ultimately increase the success of your brand.
Step 2 - Opposites Really Do Attract
- Join a few groups on social media platforms, to keep up to date with your industry and make like-minded connections to follow relevant trends.
-However, the majority of the groups you join and the people you connect with or follow, must target your key prospects. You should not treat social media personally and join 'like for like' connections, but treat it on a business level to join and coonect with your 'opposite' - people who are your prospects. Otherwise, your social media activity will reward you with zero ROI.
Step 3 - You can't juggle with just one ball
- You must look at all areas of your company that can leverage your social media activity. For example customer service, marketing, company goal fulfilment. Utilise social media to research, to market and to spread PR.
Step 4: The Social Media Equation for ROI
20% of the content on your social media platforms should inform people about your business. This will get people to your social media page.
20% of the content on your social media platforms should entertain the masses, through humour, controversy or emotion. The entertainment value of your content is vital to build relationships with consumers and to humanise your company. This will get people to stay on your social media page.
40% of the content on your social media platforms should interact with your audience by asking questions and starting a conversation. Social media is the only media tool that can utilise the interaction element of the equation.
20% of the content on your social media platforms should convert to business, to prove the validity of your social media activity.
Step 5 - The ROI of Social Media
- Each company must evaluate the worth of each social media action, whether it develops brand loyalty, increases brand awareness, optimises marketing budgets and increases profits. This evaluation will determine the ROI for your social media activity, thus determining the most cost-effective way to market across the full marketing mix to achieve the company's goals.
- Over 600 million active users around the world
- The average age of a Facebook user is 38 and this age is continuously rising
- 50% of active users, spend time on Facebook daily
B2B companies will find it difficult to reap rewards from this social media platform as people tend to peruse Facebook to follow their own personal lives. Thus people have to be truly passionate about your brand and have a personal relationship with the brand, to follow you. It is for this reason that B2C companies benefit from having a Facebook presence.
As a B2C company, you should update your Facebook activity 1-3 times a day so that you will be present on people's newsfeeds, without them feeling like you are spamming them with information. This activity has to be consistent and not merely a Monday-Friday, 9-5 occurrence.
- 200 million users
- 110 million daily tweets
- The average age of a Twitter user is 39
- Twitter is growing at a faster rate than Facebook
- Network of 100 million professionals from around the world
- The average age of a Linkedin user is 44
- New members join approximately every second
- 85% of US companies plan to recruit with Linkedin this year
Watch footage from the event here, courtesy of Christopher Murphy
By Holleh Nowrouz