Are you interested in Social Media ROI or Social Media Best Practices? Then check out this deck from Jamie Turner,co-Author of "How to Make Money with Social Media."
These slides contain plenty of statistics and data on social media and how to use social media.
1. How to Grow Your
Business with Social Media
Jamie Turner
Co-author, How to Make Money with Social Media and Go Mobile
Chief Content Officer, the 60 Second Marketer
2.
3. Introductions
• Co-author of How to
Make Money with Social
Media and Go Mobile
• Regular guest on CNN
and HLN on the topic of
social media and mobile
marketing
• Consults with small, As Seen On
medium and large
corporations
5. Agenda
Agenda Item Time Allotment
• How Consumers Make 55 minutes
Buying Decisions
• How to Use Social Media 55 minutes
to Connect with
Customers
• New Tips and Techniques 55 minutes
in Mobile Marketing
• Applause 3 hours
8. 60 Second Social Media Snapshot
• Rate yourself on
Strategic
a scale for part
time vs. full time
• Rate yourself on
a scale for
tactical vs.
Part Time
strategic
Full Time
Tactical
9. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on
a scale of 1 to 10
for tactical vs.
strategic
10. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 1
a scale of 1 to 10
for tactical vs.
strategic
11. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 1
a scale of 1 to 10
for tactical vs.
strategic
2
12. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 1
a scale of 1 to 10
for tactical vs.
strategic
3 2
13. 60 Second Social Media Snapshot
• Rate yourself on
a scale of 1 to 10
for part time vs.
full time
• Rate yourself on 4 1
a scale of 1 to 10
for tactical vs.
strategic
3 2
16. How People Make Buying Decisions
• A 30¢ pack of gum takes
30 seconds
• A $300 TV set takes 3
days
• A $30,000 car takes 30
days
• A $300,000 house takes
3 months
17. How People Make Buying Decisions
• 70% of consumers make purchase decisions based
on input from people they know
• 40% will use information from experts or other
consumers
• Only 5% trust marketers
21. Why People Don’t Buy Products
• I don’t need what you’re
selling
• I don’t have the money
• I don’t have the time to
investigate this right now
• I don’t trust you
26. Social Media Business Models
Branding: Use social media as a branding tool to build awareness and
connect with customers
27. Social Media Business Models
E-Commerce: Drive prospects to an e-commerce landing page and convert
those prospects to customers
28. Social Media Business Models
Research: Use social media as a research tool to generate customer input
and feedback
29. Social Media Business Models
Customer Retention: Use social media as a customer retention tool to reduce
churn
30. Social Media Business Models
Lead Generation: Drive leads to a website and re-market to those leads,
ultimately converting them to customers
E-Newsletter YouTube Channel
Email Marketing
Forums Speeches
You
Live Events
Twitter
eBooks Virtual Events
Mobile Apps Blog Postings
Webinars
55. ROI: Customer Retention
It costs 3 to 5 times as much to
get a new customer as it does
to retain an existing customer.
By keeping customers engaged,
involved and active with your
brand, you’ll be preventing them
from changing their loyalty.
60SecondMarketer.com -> Videos -> Branding
58. Calculating Customer Lifetime Value
The revenue generated by a customer
during his or her lifetime with your brand.
CLV for Scott’s Lawn Care:
$80 per month x 12 months x 3.0 years
CLV = $2,880
Allowable Cost Per Sale:
$2,880 x 10% = $288
59. Calculating Customer Lifetime Value
Scott’s Direct Mail:
200 pieces x 0.5% = 1 new customer
$1.44 per piece x 200 = $288
Allowable Cost Per Sale = $288
1 customer for every $288 spent
Scott’s Annual Direct Mail Spend:
$2.8 million = 2 million pieces x 0.5% =
10,000 new customers per year
60. Calculating Customer Lifetime Value
Testing Direct Mail vs. Social Media
$2.8 million x 10% = $280,000 to test a social media
campaign
Social media campaign costs:
Labor: $140,000
Production: $100,000
Miscellaneous: $ 40,000
Total: $ 280,000
Social media success:
$280,000 spent in direct mail = 1,000 new customers
$280,000 spent in social media = ?