ZERO Cost ($0) Social Media Solutions for Your Business. Watch this video now...
2. To increase your Impact, Influence and Income online.
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My Social Media Background
I have been earning my living in, on and around the Internet since 1999. I have spent thousands of hours and tens of thousands of dollars on programmes, books, advertising, websites, tools, and applications. I spent almost all of 2010 learning the latest Social Media tools and techniques. I am also a Chartered Accountant. I hold a BCom in Accountancy and a BA in Psychology. I live in New Zealand.
What is Social Media?
The terms “Social Networking” and “Social Media” are unfortunate because the primary function and use of the so-called Social Media sites is not social at all, it is Business, Influence and Income.
The Key Point about Social Media sites is that they help your business target potential customers, and connect with existing customers in a way that traditional advertising and marketing never could. This results in higher Conversions, increased Impact, and increased Income.
Overall Goal of Social Media
Your overall goal in using Social Media is to:
Create an Opt-In email list of customers and potential customers in your niche market.
An Opt In list is one people have given you permission to contact you. It is usually managed by an email marketing company, which makes contacting your customers and potential customers easy and efficient.
The Goal of my company “Social Media New Zealand” is to manage your Social Media so that you create and grow an email list of your customers and potential customers, and therefore increase your Impact and Income.
Zero Cost Social Media Marketing
The reason that businesses are flocking to Social Media is that traditional advertising mediums such as Yellow Pages, Newspapers, Radio and TV are no longer cost effective. Not only that, but people are living online more and more, so you need to meet your customers and potential customers there.
If you do not have room in your business budget for Social Media Marketing, there is a simple Zero Cost Solution:
Divert some of your traditional advertising spend to Social Media.
You get far more bang for your buck using Social Media, and your advertising becomes incredibly targeted.
Unbelievably Targeted Marketing
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” John Wanamaker:
He is of course absolutely right except that nowadays it is more like 90% that is wasted in traditional media.
Consider a car maker that wants to advertise a new car. They can advertise on TV or Radio or Newspaper and try as hard as they can to target their audience. Perhaps their TV advertising is during car programmes, perhaps their newspaper ad is in the Vehicles section. But STILL this is a scattergun approach at best.
Enter Social Media. Here is an example of targeted marketing. Using Social Media advertising a business can decide ONLY to advertise to those people who (for example):
1. Are Male aged 30 to 50.
2. Are college educated.
3. Who live in a city where that car maker has a showroom.
4. Have two or more children.
5. Have joined a Social Media Group “Car Lovers” and “Toyotas”.
Now THAT is unbelievably targeted marketing. Not only that, but do you know on average how much it costs when your prospect clicks on your Social Media Ad? If you do it right, under $1 per click. And that is a person who clicks through to your website because they are interested in your product or service! I have targeted customers click through to my website for under 50 cents!
Think about a $1m car advertising budget and think about the incredible reach a car maker would have doing targeted advertising using Social Media with that kind of budget!
How Influential is Social Media?
Let’s look at some incredible facts and figures on just how influential and pervasive Social Media has become:
- Facebook has over 500,000,000 active users (that is around one in every 14 people on earth).
- Facebook has nearly 2,000,000 active business pages (pages that businesses have set up to communicate with their current and potential customers).
- These business pages have 5.5 billion followers.
- YouTube has over 2 billion video views per day.
- There are over 90 million Twitter Tweets (messages) sent per day.
Incidentally it is reported that Facebook and Twitter users spend more money online than other online users – so clearly it is important to target them if you are in business.
There has just been a brand new country established!
This country has over a billion people who:
- Are connected to the Internet;
- Speak English;
- Are comfortable buying through the internet;
- Are able to respond to you (and purchase from you) sometimes within seconds, often within minutes and almost always within 24 hours.
It is now very easy to target people in this new country, like never before.
The name of this new country: The Online Community
Now the key here is not just that you have a big market. But rather that whatever your niche and no matter how small your niche market is, you do have an available market!
Using Social Media for Business
Traditional advertising mediums such as Yellow Pages, Newspapers, Radio and TV are not working like they used to because people are living online more and more. This means people are getting their news, information and entertainment online, not in traditional media.
If you have a professional profile, or a company with one or more employees, you need to have a Social Media Strategy. If you are a medium or large company you need to be seriously considering hiring a Social Media Manager, either as an employee or using a Social Media Management company to manage your Social Media on a fee basis.
Social Media Management will Include:
Social Media Strategy
Social Media Optimization
Social Media Policy for your business
Adding Social Media Icons to existing sites
Linking Social Networks
Finding the Top Social Networks in your niche
Setting up and Managing Business Blogs
How to Twitter
A 2010 Social Media Marketing Industry Report by Michael Stelzner which surveyed nearly 1,900 small to medium sized businesses found that 91% used Social Media. Perhaps more importantly 85% said that their Social Media efforts have “generated exposure for their businesses”. Further 63% said that it increased traffic to their website, and 56% said that it was instrumental in building new business partnerships.
This is critical information. 85% of small to medium sized businesses are using Social Media to generate exposure for their business. Two thirds of these businesses are driving additional traffic to their website and more than half are building profitable new business partnerships through Social Media.
There are over 100,000,000 businesses in the Western world. You can start to imagine just how powerful and game-changing the increasing use of Social Media is becoming.
If you are a medium or large company you need to start addressing this side of your business immediately because you can bet your competitors already are.
Using Social Media for Impact and Income
From now on whenever you see the term “Social Media” think:
“Online opportunity to network with existing and potential customers”.
Social Media is vitally important because this is how you find the potential customers in your niche market.
The most popular Social Media sites today, in order of traffic rank are as follows:
The key to Social Media is that you can find like minded people who are interested in exactly the good or services you are providing. And you get word of mouth references from those people to their like minded friends, no matter how small your niche is. And as we all know, word of mouth referrals between friends are the most compelling referrals of all.
Your Social Media Future
Imagine within a few months your business has:
- 1,000 friends on Facebook.
- 500 followers on Twitter.
- 100 contacts at LinkedIn.
- Thousands of views on your videos at YouTube.
You now have over 1,500 targeted potential customers. Assuming you have been quietly spending a couple of hours a week interacting with your potential customers you are now in a great position to promote new products, talk about a specific event, talk about your upcoming sale, and so on. Once you start talking about your business and how it meets their needs, you will be converting potential customers into actual customers, and making existing customers more active and engaged customers.
Facebook (the 500 Pound Gorilla)
In late 2010 Facebook was valued by Bloomberg 41 billion US dollars? How is this possible for a site that simply connects people socially? It isn’t possible. The reason it is worth billions of dollars is because it is one of the world’s largest advertising mediums. Individuals, small businesses, large businesses and corporations are using Facebook and similar Social Media sites to connect with, advertise to, and then sell to the users of these sites. Facebook say they have over 500 million active users (more than the entire population of the USA and the UK combined). The average user spends over 55 minutes per day on the site. Not only that, more than half of Facebook users are over 25 years old. So don’t assume that Social Media site users are predominantly teenagers and college students.
Social Media Free Tips
To help you better understand Social Media for Business, I have a Free Email Service – Social Media Free Tips.
Go to: www.SocialMediaFreeTips.com
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You can download my FREE Social Media Guide that includes a Five Day Social Media Plan for your business.
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"Without Oli's Social Media tips and information, I have no doubt I would have spent weeks if not months looking for the right way to get started online. As a result of Oli's guidance, not only have I saved massive amounts of time, but I have also saved huge amounts of money. Thanks Oli for making it all so easy and straightforward."
Auckland, New Zealand