“Effectively Using Social Networking” Michael Hyatt
Introduction
The Butterfly Effect
Economic Impact Potential Customer Impact Room Amount Nights Mike’s Travel 10 $1,500 Thomas Nelson Executive Travel 100 $15,000 Women of Faith Attendees 500 $75,000 Trade Show Attendees 1,000 $150,000 Mike’s Twitter Followers 10,000 $1,500,000 Mike’s Blog Readers 36,000 $5,400,000 Total Impact 47,610 $7,141,500
ComcastCares Where they able to assist? MichaelHyatt You obviously haven’t read my early tweets . I am not a happy camper! Comcastcares I am sorry for the bad experience . Let me review the signals on the account and see what I notice . What is the phone number on the account? MichaelHyatt 615-599-1003 . My issue is that that they can’t send someone out until Wednesday to fix it! ComcastCares I agree . It is completely unacceptable especially since we did not get it right the first time . That is first date available to me but …
ComcastCares I want to see what I can get done for you . What is a good contact number? I am looking to see what contacts I have in your area . MichaelHyatt 615-429-3382 . ComcastCares I just got o fg the phone with a service tech in your area . I can have a crew at your house tomorrow . He will have to work you in, so he will call first . MichaelHyatt Wow . Thanks! ComcastCares I will follow-up with you tomorrow afternoon to make sure everything is fixed . Thanks for your patience and your business!
Word of Mouth Impact Potential Customer Impact Math Impressions Mike’s Positive Tweets 35,000 x 5 175,000 Retweets of Mike’s Tweets 5 x 50 x 750 187,500 Blog readers 70,000 70,000 Total Impressions 432,500
My Premise “Whether or not you survive and thrive as a company will depend on your ability to use social media effectively to engage your customers, secure their trust, and build your tribe.”
1. Because the world is changing dramatically.
Social Media Factoids - By next year, Generation Y will outnumber Baby Boomers. - 96% belong to a social network. - Social media has overtaken porn as the #1 activity on the Web. - 1 out of 8 couples married in the U.S. Last year met via social media.
To Reach 50M Users - It took radio 38 years. - It tool television 13 years. - It took the Internet 4 years. - It took the iPod 3 years.
Blog Factoids - More than 200 million blogs. - 54% of bloggers post content daily. - 25% of search results for the top 20 brands are links to user-generated content. - 34% of bloggers post opinions about products and brands. - Do you like what they are saying about your brand?
Facebook Factoids - More than 250 million active users. - More than 120 million users log in at least once a day. - It has added 100 million users in the last 9 months. - If Facebook were a country, it would be the fourth largest, behind, China, India, and the United States. (>300 million users)
Facebook Factoids - The fastest growing segment on Facebook is 55–65 year-old females. - Yet China’s QZone—which you have probably never heard of—has 350 million users. It is larger than Facebook! - Do you have a presence on Facebook? Does your company?
Twitter Factoids - More than 50 million users. - Ashton Kutcher and Ellen DeGeneres have more Twitter followers than the entire population of Ireland, Norway, and Panama. - 80% of Twitter usage is on mobile devices. - Imagine what this means for bad customer experiences?
2. Because traditional media are dying faster than you think.
Traditional Media - Only 14% of consumers trust advertisements; 78% trust peer recommendations. - Only 18% of traditional TV campaigns generate a positive ROI. - 90% of those who can skip ads via TiVo do. - 4 of the top 25 newspapers are experi- encing record declines in circulation.
Traditional Media - We no longer search for the news. The news finds us. - In the near future, we will no longer search for products and services. They will find us via social media. - Social media isn’t a fad. It is a fundamental shift in the way we communicate.
3. Because a conversation is happening online about your company— whether you know it or not.
So What Can You Do?
1. Understand the social media framework.
Homebase Embassies Listening Posts This is a place This is a place This is a place you own. It’s you don’t own, you neither own where your loyal but where you nor have have a fans gather. This have a registered regular presence. can be as simple profile and a You do, however, as a blog or as regular presence. listen into complex as a You engage in conversations. social network. conversations This is where you here. direct all traffic. P B N
2. Just try it!
3. Educate yourself.
Social Media Blogs Seth Godin: sethgodin.com Chris Brogan: chrisbrogan.com Mitch Joel: twistimage.com/blog Guy Kawasaki: blog.guykawasaki.com Social Times: socialtimes.com Mashable: mashable.com
Social Media Books
Social Media Books
Social Media Books
Social Media Books
4. Start listening online.
5. Engage in the conversation.
6. Build trust —earn the right to be heard.
7. Start building a tribe.
What Is a Tribe? - A tribe is a group of people with a shared passion. - What tribes crave is leadership: - Someone who shares their passion. - Someone who initiates the conversation. - Someone who is generous. - Someone who faciliates communication.
Tribal Communication Level 1: Empower the leader to communi- cate to the tribe. Level 2: Empower the tribe to communicate to the leader. Level 3: Empower the tribe members to communicate with one another. Level 4: Empower the tribe members to communicate with outsiders.
Imagine
Q & A
My Contact Info Blog: michaelhyatt.com Twitter: twitter.com/michaelhyatt Facebook: facebook.com/michaelhyatt Speaking: michaelhyatt.com/speaking Email: michael@michaelhyatt.com
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