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.

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

29. Stat from Facebook

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

34. Stat from Facebook

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?