Posts Tagged ‘social networking’

What is your Twitter clockspeed in #socialselling?

22/07/2014

timer social mediaSalespeople are embracing social selling.  There are a lot of benefits to adding social to your traditional sales process which has been covered in many different articles.  These articles cover things such as researching your clients, content curation, relationship building and even lead generation.

After doing some research of where your target audience is , creating social (selling) profiles is easy.  Especially with all the good advice, tips and tricks you can find on the internet.  But then the next dilemma’s  arrive on the scene: what content to post where, how many posts and how much time will this take?

Of course, there is no unique and one answer to these questions.  There are some articles out there that say you will be spending 20 – 60 minutes per day, but is that realistic?  Looking at the forerunners of social selling might give us some more insight.  Where better to look for inspiration on the above questions than to the list with the Top 30 Social Salespeople.  Today, I will focus on what they do on Twitter.

Quantity

There are many posts about how many times you should tweet per day.  One thing that seems to jump out is that the quantity seems to be going up.  In the past it was once a day but today the number is likely going up to 3 to 8 tweets a day.  This includes of course your tweets, retweets and replies to others.

But how many are our experts averaging?  A quick analysis gives us a range between 4 and 36 tweets per DAY!  The average being 17.  One of the reasons why this number could high is because these experts are taking part in twitter chats and are much solicited by their “fans” but that could also be considered as social selling.

Digging a little deeper, it seems they are tweeting every day of the week with Saturday and Sunday at a 1/3 or less of the weekday volume.  And most tweet around the clock with a real dip around 2-5 AM.  I assume this has to do with their worldwide audience and their use of scheduling tools.

And then there is the lifespan of a tweet.  After some digging I found that this varies between 10 and 18 minutes.

Conclusion: There is, of course, no exact number but it seems that you need to tweet 10+ times/day or otherwise said “once every hour” during the workday. And possibly 3 times/day during the weekend.

Content Structure

How-To-Write-The-Perfect-TweetThere is no such thing as a perfect tweet, but common knowledge has it that every tweet should have a good text with a call to action, a link to more content and one or more hashtags.  To make the tweet complete, you might add a twitter handle as part of a reply or general mention.

Unfortunately, most tweets do not adhere to this scheme.  Our experts manage include a link to more content in about 15% to 90% of their tweets. The average being one tweet out of two having a link.  When it comes to the use of hashtags, we see a similar behavior.  The experts average between 0 and 4 hashtags per tweet.

Conclusion: Every tweet you send out should have at least one or possibly 2 hashtags.

Time investment

So how much time do you spend tweeting?  The 2 above topics can give us some indication on how much time you will be spending per day.  Since there is no real science to this, here are some of my thoughts

  • Tweet 12-15 x day
  • Every other tweet has a link to additional content and a good hashtag.
  • Average time to create and send out a tweet: 1 minute (and yes this can vary) but keep in mind that some thought needs to go into the text, call to action and hashtag(s) to use.
  • If you include a link in your tweet or you retweet a tweet with a link, you need make sure you have read the content of the link which I will count as 1 minute per link. Since half the tweets contain links this will consume some time.

Conclusion: Taking the above bullet points into account, you will spend 20 minutes or more per day on your outgoing tweets.

And there is more

Of course, sending out tweets (like sending out email content) is only the beginning of the integration of social into your sales process.  You will be investing time into listening, content reading /curation and actual relationship building.  More to follow in future posts.

So how much time do you think you invest into your social selling routine?

The 10-60-30 Rule of Social Selling

12/04/2014

If Social Selling is all about Connecting, Listening and Content Sharing, then getting started on Social Media can be a daunting task. Have you ever wondered which tools you could/should be using? And more importantly, how much time you need to spend on it. Here is my take (and experience) on it.

connect - listen - share

Connecting
Social Networking platforms are made for connecting. Here you will find the obvious candidates such as LinkedIn and Twitter. However, Xing and Viadeo might be good alternatives in the German and French speaking markets. Not everyone is on LinkedIn. In a B2B situation, Facebook seems the last option social sellers jump on. But since so many people have a profile here, it might make sense to link here too but you need a clear strategy on what and how to share. The inevitable discussion between personal and professional lives.

Finding and connecting new prospects and clients are here clearly the marching orders. Nothing new so far. Make discovering new contacts part of your daily routine.

Listening
Here it becomes a little more complicated and time consuming. There are at least 2 reasons for monitoring: understanding what your contacts are saying/doing/interested in and finding interesting content to share in the content sharing stage.

Listening to what your contacts are saying can be done through Hootsuite and LinkedIn Saved Searches, while finding content could be done through Google Alerts, LinkedIn Pulse, Feedly or any other RSS feeder program.

How much time you will be spending on this part of your social selling routine will vary a lot depending on the number of contacts, the activity level of those contacts, the variety of topics you are following and how much reading you will be doing yourself.

Content Sharing
Content is everywhere on the internet but prime locations are Slideshare, YouTube (or Vimeo), Blogs and Forums. Once you have that content you will want to share it. Tools such as Buffer or Hootsuite.

Additionally to sharing interesting content from others (less than 40% of all your content) you will need to create. You might create presentations, blog posts and general status updates/tweets. Let me be clear that this is a time intensive task and thus easily postponed. Once you created your own content you will want to share this with your contacts via Status Updates and Tweets.

Finally, through the monitoring and listening programs you will also find more opportunities to engage with and help your clients and prospects. Your entrance ticket to become a trusted advisor.

Again, it is hard to put a number on this when it comes to time spent. Do not consider this lost time but think how much time you saved by not having to drive to your client to have a conversation.

10-60-30 Rule of Social Selling
Social Selling is more about the approach rather than the use of a number of tools (see above). Over the course of time, this has evolved into a daily routine. My experience has demonstrated that the different steps and tools must be interwoven with everything you do during the day.

Today I can say that I spend about 10% of my time working on the connecting bit. 60% reviewing what my listening tools unearth in terms of client conversations and content. And I must admit that most of the time goes to reading and qualifying whether this information can be shared to provide more value to the clients (and me, of course). Finally, 30% is the actual sharing and personal content creation.

So how does your social selling routine stack up?

6 Social Media things to do before breakfast

25/01/2014

When you get involved in social media, you quickly learn that it requires regularity and discipline.  Creating a daily routine is of course one of the best ways to approach this.  Over time I have together a 30-minute routine.

Source: www.socialbel.com

Here are the things I do before breakfast:

  1. Email
    1. Delete uninteresting/unwanted emails.
    2. Mark emails to be treated during the workday.
    3. Answer urgent emails.
    4. Check emails from LinkedIn groups for good content and mark for later reading.
    5. Review Google Alerts and mark interesting items with GetPocket.
  2. Social media monitoring
    1. Review social media monitoring dashboard and react appropriately.
    2. Go to Hootsuite and review monitoring columns and react appropriately.
  3. LinkedIn
    1. People Who viewed your profile is a perfect opportunity to start a conversation or even get connected (selectively).
    2. Contacts show people that have a New jobBirthday or Work Anniversary.  This again is a great opportunity to start a conversation.
    3. Review LinkedIn Inbox for messages and connection requests.
  4. Twitter
    1. Check tweets that mention me and act appropriately
    2. Check new followers out
    3. Check who unfollowed me and decide on course of action (recapture or accept)
    4. Quickly review the recent Tweet stream
  5. Facebook & Google+
    1. Check personal and company timelines for posts from friends and fans
    2. Wish friends a Happy Birthday
    3. Check messages and take action if needed
  6. Content sharing
    1. Share my quote of the day or content from others across a number of platforms
    2. Contribute and share content through my Tumblr blog on Social Media tools

Having created this routine, I am able to start my day informed, organized and inspired.   Since I have created this morning, I have also developed a similar approach for the evening routine.  The evening routine focuses more on content generation but I will discuss this in another blog post.

Do you have a similar routine? Why not share it through the comments below.  Or do you want details about any of the steps mentioned in my routine, send me a mail (mic@vanguard-leadership.be)

How Social Media Platforms make money!

19/07/2013

“Social media is free” is a much misunderstood  concept.  Just ask the companies providing the services. Have you ever wondered how these social media platforms make their money and how much it really costs.

LinkedIn

We all know that LinkedIn makes its money via premium solutions.  These solutions include Premium accountsTalent Solutions and Advertizing. The Talent Solution packages include individual job postings, recruiter packages, career pages for companies and advertizing (Work with us).

  • Premium Accounts come in 4 flavours (Business, Recruiter, Job Seeker and Sales Professional) with a variety of functionality .  Prices vary and summarized below:

linkedin costs

  • An individual job posting giving you 30 days of exposure will set you 139,95€ (ex VAT) back.
  • The recruiter package will set you back between 5.000€ and 10.000€ annually
  • The career pages on your company profile will cost you 8.000€ annually for a silver subscription and the 16.000€ annually for a gold subscription.
  • Finally, there is advertizing.  You define what you want to spend on a daily basis.  There is a minimum startup cost of $3 and a daily minimum of $10 with a $2 per click or per 1000 views.

Twitter

In view of the functionality of Twitter, there are not that many ways Twitter can make money. Twitter uses a bidding system. But here what is available if you feel like paying:

  • You can promote a tweet.  Here the cost is based on a Cost-Per-Engagement (RT, Reply, Fav).  Costs vary between $0.20 and $5.  It is rumoured that prices can sour to $100.000 for a single tweet.
  • Next up is the Promoted Account. Same system as above except you pay per follower the same amount.
  • Verified Accounts are available to anyone who spends $5000/month over a period of 3 months or in otherwords $15,000.
  • Finally, if you are really ambitious, you create a Promoted Trends for one day.  This could set you back about $200,000/day!

twitter for business

Facebook

When it comes to Facebook, we can see 2 types of money streams: advertizing and sale of virtual goods and credits.

  • The 2 advertizing options are CPC (Cost per click) or CPM (Cost per 1000 views).  The amount you are willing to spend is really up to you when you define you daily spend. For each ad you will have to place a bid on how much you are willing to pay for its appearance in either formula.  The minimum bid for is $0.01.  Keep in mind that click rates on Facebook are very low compared with Google.
  • Facebook credits are a virtual currency that you can use to buy virtual goods in any game of app on Facebook.  Again, the user will define how many credits he/she wants to buy and payments are done through credit card or Paypal.  How does this benefit Facebook’s money stream?  They take their cut (it is rumoured about 30%).

facebook ad

Google

Google makes it really simple.  There is advertizing and subscriptions

  • Subscribing to Google Apps will cost you as individual user at least $5/month and as a company $10/user/month.
  • Google Search and Adwords are the main income for Google (96% according to Investopedia) and work on a bidding system.  The user is in control of the budget (no minimum) where She/he decides how much to spend on a daily basis.

google-adwords

Let’s now take a look at the other popular social media platforms that people and companies are using.

  • Slideshare: The free version offers a public space for you presentations, but if you want to protect your presentations or do branding you will need to open your wallet.  The subscription starts begin with silver at $19/month, gold at $49/month to $249+/month for platinum.
  • Foursquare: In order to claim your location you will need to dish out $10.  Foursquare also offers advertizing which starts with a ticket price of $50.000 and up.  Soon Foursquare will also allow “Post Check-in Ads” to be rolled out in the summer 2013.
  • WordPress: WordPress offers a myriad of paid features starting with the hosting of you wordpress blog at a cost of $15.000+/year.  Here are some other features that will cost you:
    • Claim your domain: $13 – $25/year
    • Extra storage: $20 – $290/year
    • Custom design: $30/year
    • Video press: $60/year
    • Guided transfer: $129 one-time
    • Automatic backup (Vaultpress): $180/year
    • Ad free: $30/year
    • Support from WordPress: $2.500/year (for enterprises)
  • Tumblr:  This microblog offers a number of paid components
    • Premium themes: $19+
    • Promoted posts: $5
    • Sponsorship (Radar): $25.000

free-managed-services

And then there some social media platforms that do not seem to have a revenu model today, Instagram and Pinterest being amongst them.  However, soon I am certain they will come up with their own scheme.

So, the conclusion is that social media is more and more a Freemium model that can seriously rack up costs.  Now that the summer is in full swing, this might be a good time to start thinking about your 2014 Social Media budget and integrate some of the items listed above.

Of course, there are many other tools (monitoring, amplification, marketing, retargetting, account management,  statistical, etc.) where you can spend money on to professionalize your social media presence.  I will cover those platforms in another post.

So, as a conversation/marketing manager, what social media services are you budgetting for in 2014?


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