Social Media Has Ruined Your Business
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This document discusses how social media has become essential for businesses. It notes that while social media requires a lot of effort, the old rules no longer apply as younger generations now use social media and seek opinions online. The document provides various statistics showing how social media influences purchasing behaviors and can help businesses reach more customers than traditional ads. It emphasizes that businesses must have a purpose and strategy for using social media to build their brand and engage with customers.
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Social Media Has Ruined Your Business
- 1. Social Media Has Ruined Your Business May 12, 2010 Courtesy of
- 2. they say you need to be on social media
- 3. but why ?
- 4. to build a farm for your company? Image from techieglue.com
- 5. or to be compared to an onion ring?
- 6. and facebook’s just the beginning Tumblr Wakoopa Yelp YouTube Vimeo foursquare Flickr Google Buzz Bebo Blip.fm Twitter Last.fm LinkedIn MyBlogLog Myspace Delicious Digg FriendFeed Flixter iLike
- 7. it’s a lot of effort just to be “Liked”
- 8. and ads reach more people than status updates
- 9. so why bother ?
- 10. because the times, they are a-changin’ Image from The Selvedge Yard
- 11. the old rules no longer apply
- 12. Generation Y now outnumbers baby boomers 96% of those under 30 are on social networks Stat from Forrester
- 13. we no longer find the news, the news finds us 24 of the 25 largest newspapers have declining circulation Stat from socialnomics.net
- 14. 90% of shoppers seek opinions online first 78% trust recommendations; 14% trust ads Stat from socialnomics.net
- 15. 70% trust recommendations of people they don’t know one online conversation = the impact of 200 tv ads Stats from Nielsen, BuzzAgent
- 16. 97% of consumers use online media to shop locally 58% report using an online coupon in their local area Stats from BIA/Kelsey Group
- 17. one customer? one influencer? what’s more valuable to you?
- 21. People on Facebook 400,000,000 Stat from Facebook
- 22. Active Users That Login Daily 50% Stat from Facebook
- 23. Average Friends per User 130 Stat from Facebook
- 24. Average Clickthrough Rate on Banner Ads 0.2%
- 25. Average Clickthrough Rate on Wall Posts 6.5%
- 26. More Likely to Buy After Becoming a Fan 51% Stat from Chadwick Martin Bailey
- 27. More Likely to Recommend After Becoming a Fan 60% Stat from Chadwick Martin Bailey
- 30. People on Twitter 75,000,000 Stat from themetricsystem.rjmetrics.com
- 31. More Likely to Buy After Following 67% Stat from Chadwick Martin Bailey
- 32. More Likely to Recommend After Following 79% Stat from Chadwick Martin Bailey
- 35. People on LinkedIn 65,000,000 Stat from LinkedIn
- 36. Fortune 500 Companies with Executives on LI 100% Stat from LinkedIn
- 39. People on YouTube 120,000,000 Stat from YouTube
- 40. Internet Bandwith That Goes to YouTube 10% Stat from AllFacebook
- 41. YouTube Traffic that Arrives Directly 54% Stat from YouTube
- 44. People on foursquare 1,000,000 Stat from foursquare
- 45. Number of Checkins 40,000,000 Stat from foursquare
- 46. Number of Checkins Five Weeks Ago 22,000,000 Stat from foursquare
- 47. getting set up
- 48. set up google alerts
- 49. set up google analytics
- 50. get profiles on relevant networks
- 51. claim your business
- 52. start tracking your reputation
- 53. the top 10 things to know before you start Stat from Forrester
- 54. 1. Have a Purpose have goals behind your strategy and work to achieve them
- 55. 2. Be Authentic nobody cares about your pitch, they care about communication
- 56. 3. Be Transparent be honest, be open and tell the truth
- 57. 4. Understand and Allow Community if given the opportunity your community will monitor itself
- 59. 5. Always Offer Value your customer doesn’t owe you anything
- 60. 6. Dollars and Time Aren’t Free like all advertising you get what you put into it
- 61. 7. Challenge Yourself jump in; only you or your competitor can be first
- 62. 8. Steal From Your Customers sometimes they have the best ideas, use them as a focus group
- 64. 9. Online Isn’t an Island treat social as an outpost; an extension of offline efforts
- 65. 10. Track Results set yourself up for success and track your ROI
- 66. socially engaged companies are more successful 12-month revenue growth, wallflowers: -10% 12-month revenue growth, mavens: 18% Stat from Altimiter ENGAGEMENTdb
- 67. “ The ROI of social media is that you will still exist in 3 years .” Stat from socialnomics.net
- 68. social media has ruined your business
- 69. and can build you a new one
- 70. Thanks! Rick Jessup [email_address] 416.727.4017 @RickJessup www.rickjessup.com www.58ninety.com Thanks to for the invite!
- 71. why listen to Rick?
- 72. who is this guy Online in 1990 Web design in 1995 Blogging in 1996 Speaking on digital in 1997 Over 20 years of web experience Over 15 years managing strategy