Increasingly, corporations are looking for ways to tap into Social Media as a way to engage with their customers, reduce marketing spend, and gain competitive advantage. Entrepreneurs too realize the potential and in the past year alone, we have seen an explosion of startups who create Social Media solutions—from widgets and add-ons to full community management platforms. But what does social media mean to a corporation? What does it mean to its customers? And even more importantly—what does it mean to entrepreneurs who want to gain competitive advantage in this space?
About Ravit Lichtenberg –
Ravit Lichtenberg, Founder and Chief Strategist of Ustrategy LLC, is an expert in the fields of customer experience strategy and product marketing. Ravit’s interdisciplinary approach assisted countless startups and larger corporations like Hewlett-Packard to implement best-practice processes that analyze and affect consumer psychology to improve the customer experience and improve bottom line profitability.
This presentation was given at the Social Media Club of San Francisco and the Silicon Valley in May 2009.
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The Corporate Social Media Ecosystem
1. Focus on relationships, not technologies
The Corporate Social Media
Ecosystem
Ravit Lichtenberg,
Ustrategy, LLC
May 19, 2009
Not for commercial use; please reference source as: Ravit Lichtenberg,
Ustrategy, LLC.
3. The Corporate Ecosystem is Evolving
Now can
be also a
startup!
March 2008 “The CRM 2.0 Imperative”
4. The Social Media Corporate Ecosystem
•Create
relationships
•Listen
Corporation •Learn
•Converse
Marketing •Sell
•Interact and
share
•Make money Startup/ •Learn
•Be known Customer
Partner •Express their
voice
Capabilities
5. What is Social Media Again?
An umbrella term for tools
used by people to connect
to others, and by
companies to connect to
their existing and new
customers using Web and
related technologies.
Engagement
Conversation
Expression
Tracking / Observing
10. People Increasingly Interact with Social
Media
Over 60% of Americans regularly use Social Media
Source: RWW/Cone research
Compete.com
11. People Want to Interact With Their
Favorite Brand
93% believe a company should have presence on
Social Media sites
42% of adults and 55% of youth want to interact
with their favorite brand through one or more
social media tools.
Sources: RWW/Cone Research
Forrester Research
12. But HOW They Want to Interact Varies
When asked how they prefer to learn about their
favorite brands:
26% of adults prefer online discussion forums
21% prefer videos
15% prefer profiles on social networking sites like
Facebook
Only 12% prefer blogs
Less than 10% listen to podcasts
Source: Forrester Research
14. Brands are trying…
HP spends 50% of budget on Marketing
Brands who use Social Media spend 10%-25% of
their Marketing dollars on Social Media campaigns
Sources: Hewlett-Packard Co.
Forbes
19. But Most Brands…Do Not
More than 50% of brand
campaigns fail.
Worst Ad Campaign: HP
Pay Per Post, Subway,
Walmart Across America.
Unable to articulate ROI
or measure it.
“Throw and see what
sticks.” (Charlene Li)
Source: SXSW blog
Forrester Research
21. Some Succeed…But Most Don’t
Solution is generic or…too
customized
Poor business model
Lacking consistency,
dependability
Inability to integrate
Lower quality of interaction
Unable to understand
customer benefits
Difficulties reaching
decision makers
23. To Turn the Corporation Social…
Corporations must move from selling to caring!
Focus on relationships—not selling
Get to know customers!
Go to places where customers spend time
Develop meaningful communication
Create an exchange: a dialog
Make it easy
Give tools to the advocates
Reward the enthusiasts
Turn boring into exciting
Enlist the right SMEs
Bring on board the right solutions
24. Each Player in the Ecosystem Cares
About Different Things
•How to measure ROI?
•What tools are best?
•How to get IT’s buy-in?
Corporation •Are the old ways best?
•Will we get a deal?
•Will we beat our •What do I get?
competition? Startup/ •Why should I spend
Partner Customer time here?
•Are we creating a
need to fill? •Will I have control over
privacy?
Without addressing each Player’s needs, you
don’t have a strategy!
25. Corporations Must Have a Strategy!
Starter steps:
Agree on the business objectives
Understand customers’ objectives
Identify the relevant channels
Establish relevant metrics
Have the right people on board
Align with ongoing marketing strategy
Prioritize!
Develop a plan
Identify the right tools for the job
Implement
26. About Ustrategy, LLC
We are a boutique consultancy out of the Silicon Valley, California,
specializing in linking customer psychology with business objectives
for maximum results.
Ustrategy, LLC. was founded by Ravit Lichtenberg, a 15-year tech
veteran who works with startups, Fortune50 corporations and
anything in between. Ravit was a customer experience strategist
with Hewlett-Packard’s Corporate Marketing division. She is an
advisory board member for a number of organizations.
Ustrategy, LLC. partners with strategic resources for best results.
Some of our partners include eStorm, Uxcentric, and IDEO. Clients
include large corporations as well as US and foreign-based
startups.
Ravit Lichtenberg, Ustrategy Founder and Chief Strategist, is a
sought speaker, writer, and analyst. You can find out more at
www.ustrategy.com
27. Recent Articles
10 Ways Social Media Will Change in 2009,
ReadWriteWeb
-What's Wrong with Facebook: When Strategy Fails to
Meet Execution, ReadWriteWeb
-What Every European Startup Should know: 10 Keys
to Presenting Your Startup in the US, Mashable