This panel covered everything from the basics of the various social media tools to strategies for using social media to drive traffic and engagement.
First up was Rebecca Kelley from 10e20 with a presentation entitled “Better Living through Social Media”, an overview of the various social media sites and where the ROI can be found.
Social media is just another avenue to drive traffic. So where is the ROI in these sites? Rebecca started with an example of the Three Wolf Moon t-shirt case study.
Digg can drive links and traffic to your site. Rebecca shared that a piece by State Farm in Digg helped them also rank very well for SEO keywords.
Reddit drives traffic, links and community. It’s not as big as Digg, but it’s pretty buzzworthy and has a very loyal community.
With delicious, you can build a loyal audience or readership. With StumbleUpon, it’s about traffic, mindshare and subscribers.
Twitter is about traffic, awareness, followers and sales. Tweeting a contest or promotion should provide some good response. Tweet deals (ex: Dell, JetBlue).
With Facebook, it’s about traffic, brand loyalty, deals and sales and ads. Rebecca gave the example of Victoria’s Secret’s Facebook efforts. She mentioned that you can create a tab on your Facebook page for specials, deals, etc.
LinkedIn is about building relationships and making connections. Best thing you can do to get ROI from LinkedIn is get recommendations and establish connections.
Reem Abeidoh from Outrider was up next and covered the growth of social media, its measurement.
Reem said that you need to use social media as a branding tool, not a direct marketing tool. Determine what is the best social media tool for YOUR brand. She felt that marketing doesn’t work in social media.
So what is the opportunity? Listening tells you what your customers are saying. Create a strategy based on your business goals. Optimize content appropriately for search and social. Then match the right content with the right audience in the right place. Finally, in order to prove the ROI, be sure to monitor and measure! How did customers connect with your brand?
Reem gave the example of the Dell customer service success story. Dell was able to dramatically change negative mentions by engaging. Best Buy had a high employee turnover rate. They empowered employees by giving them a voice with Blue Shirt Nation. Their 60% turnover was reduced to 8%.
Maximize your performance with earned media and owned media. She cited a whitepaper of a study about various search and social performance at www.searchfuel.com.
Define success metrics based on your brand or business objectives and recognize where you are in the purchase funnel.
Dave Snyder from Search and Social was up next with a presentation called “Put Social Before Money”. Dave said that most companies approach social media as the product first, but that’s not effective. So how can a company make money with social media? Three top ways are:
How do you build a social site’s equity? The funnel that many companies use is to drive visitors to their site to purchase products, but that doesn’t work. Don’t put the product before the consumer! Instead of working from the product down, why not create a new home for your product, like a microsite?
Last up was Jay Berkowitz who wrote the book Ten Golden Rules of Online Marketing and covered ten social search strategies.