Social Media Marketing

1. Social Media Marketing Using social media to: Twitter on customers’ MySpace until they Google all over your Facebook!

2. Cases • Kogi Catering: Create a Queue • Bonobos: Getting Feedback • Jet Blue: Lost & Found • Dell Outlet: Recovering Losses • Pleasant Holidays: Liquidating Inventory

3. Key Benefits • Low Cost • Wages of employees dedicated to monitoring Social media • Ability to Reach the Audience Quickly • Mobil access • Access to Large Numbers of Consumers • Few followers multiply exponentially

4. Issues • Communication • Link to outdated landing page • Errors/Typos in Posts • Cannot recall wrong information • Kogi: 2 minutes instead of 20 minutes • Pleasant Holidays: $299 instead of $499 • Managing Expectations • Responding to posts

5. Solutions • Generic Offers that link to landing pages • Set an expectation of 2-6 hours • Research • Review • Dedicate an employee to social media during business hours

6. Measuring Success • Six Steps to the Perfect Measurement System • Define your goals • Understand your audience and what motivates them • Define the metrics • Determine what your benchmark is • Pick a tool and undertake the research • Analyze results and glean insight, take action, measure again.

7. Branding Your Social Media

8. THE END

9. Questions 1.) If you were to diagram the process that Kogi uses, its customers would represent which of the following? • Decision point • Queue • Process • Output 2.) Which of the following is NOT a benefit of social media? • Reach (speed) • Reach (quantity) • Recall Information • Low Cost 3.) What is a good expectation to set for response time? • 1 hour • 2-6 hours • 12-24 hours • 10 minutes

10. Resources • "Deals @DELLOUTLET: How Dell Clears Inventory Through Twitter." Stanford Graduate School of Business. M.334 (2010): Print. • "Bonobos: Customer Intamacy Through Community Development." Stanford Graduate School of Business. M.337 (2010): Print. • "Amplifying Perceptions: How Jet Blue Uses Twitter to Drive Engagement and Satisfaction." Stanford Graduate School of Business. M.336 (2010): Print. • "Twitter Success Stories: How 11 companies are achieving thier marketing objectives, 140 characters at a time." Marketing Profs. (2009): Print. • Barone, Lisa. "« Actionable Organic... | Blog home | On-site Search As A... »May 6, 2008." Bruce Clay. BruceClay.com, 06 05 2008. Web. 16 Nov 2010. <http://www.bruceclay.com/blog/2008/05/reputation-management-in-a-social-media-world-and-on-your-site/>.

11. Kogi Case Kogi is a Korean BBQ catering truck that uses Twitter to alert its followers of its next stop. This allows them to build a queue of hungry customers before they arrive to minimize the amount of idle time between customers. They further use Twitter to manage expectations by sending updates if traffic has caused a delay. Although this is described in the article as building community, it also has a direct impact on business and is as crucial as posting business hours on a store front.

12. Bonobos Case Bonobos is an online men’s apparel store that uses FaceBook to build community with its customers. Bonobos found that many of its followers are business savvy and can provide useful insight as business strategists and the target audience. Bonobos posts its business ideas and asks for its followers’ input, like its contemplation of adding Boys’ clothing to its product offerings. Its followers responded with their consumer opinion, but also justified their opinions in terms of business strategy.

13. Jet Blue Jet Blue uses social media to monitor customer satisfaction. One example discussed in this article was a man who had just left the airport and had tweeted about losing his sunglasses. Since he had mentioned Jet Blue in his tweet, a Jet Blue employee who was monitoring Twitter was alerted and contacted an employee at the gateway to look for the sunglasses. They then Tweeted the man back to let him know they were looking for his glasses. This is an extreme case, but Jet Blue uses this monitoring to find complaints that are trending in order to address the issue and communicate that it has been remedied.

14. Dell Outlet Dell uses Twitter to sell returned goods. Any computer that had been delivered and opened could not be resold as new, so Dell had to offer these items at a discounted price. Because the inventory of returned items is unpredictable, an e-commerce site was not feasible as inventory management would be far too time consuming. Instead, Dell created @DellOutlet on Twitter to instantly notify its followers of available inventory to sell as they come in, reducing on-hand inventory.

15. Pleasant Holidays Pleasant Holidays is a travel company that uses FaceBook to notify customers of last minute deals. If this inventory of vacation packages is unused, Pleasant Holidays will lose money, so it makes deep price reductions on travel that must be purchased in the next 7 days to ensure that all seats are filled.