3. Social Media: The State of Play
Where are you with social
media?
What progress has been
made?
Where are you going?
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4. Our View on Progress Made
Interest and enthusiasm has grown rapidly
Everyone is now a social media expert ļ
Channels are being set up
But lack of strategic planning leads to
problems down the line - resourcing, content,
customers, performance measurement etc
A broadcast mentality prevailsā¦ā¦.
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5. There is something fundamentally
wrong with our approach to Social Media
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6. Something Wrongā¦..
In too many companies, social media is seen as just another
PR/marketing channel for broadcasting messages AT
customers telling them how good we are
Are our customers listening
anymore?
The rules of the game
have changed!
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7. Our Role Today
Encourage you to adopt a new
approach to social media ā
an āoutside-inā,
customer led approach
Use social media as an
engagement platform for talking
WITH rather than AT customers
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8. Be Social
New āmindsetsā are
required to be successful in
social media
āBE SOCIAL BEFORE
DOING SOCIALā
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9. The rules of the game have changed
The 5 key things to remember
about Social Media
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10. 1. Itās a Revolution
A fundamental and revolutionary change
in online behaviour, expectations and
the online customer experience.
The end of the āread onlyā internet
Content generated by the network for
the network
We are no longer passive consumers of
content/brand messages
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13. 2. Itās Social
A conversation
not a broadcast
platform
Conversations are taking
place relevant to your
brand ā are you listening?
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14. 3. Power Shift
Social media empowers
customers, empowers the network
We no longer control the brand
The brand becomes the customer
experience of the brand ā
experiences that are widely
shared online
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16. 4. Declining Effectiveness
Declining effectiveness of traditional
approaches to sales and marketing
Does anyone listen any more?
We are no longer passive sheep
waiting to be ādrivenā to your web site
If you treat us like sheep, we will tell you
to āflock offā.
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18. 5. The End of Business as Usual
New āmindsetsā, new business
approaches and new performance
measures are required
NOT a broadcast medium. Its
about listening to and engaging
with customers, partners, your
community, your tribe
This is something we are not very
good at doing. We prefer telling
people how good we are
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19. The End of Business as Usual
āWinnersā will be those organisations who fully utilise
the interactive power of Web 2.0 technology for
engaging with and energising customer and network
relationships
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20. New Performance Measures
ā¢ Business success depends on the quality of your customer
base; the strength of the relationship you have with quality
customers; and your ability to leverage that relationship
ā¢ In a social media era, business success depends on the
ā Quality of your network
ā Relationship strength
ā Ability to leverage
The 6Is Approach
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21. Performance Measurement
ļ¼ Involvement ā network/community numbers/quality, time spent,
frequency, geography
ļ¼ Interaction ā actions they take ā read, post, comment, reviews,
recommendations
ļ¼ Intimacy ā affection or aversion to the brand ; community sentiments,
opinions expressed etc
ļ¼ Influence ā advocacy, viral forwards, referrals and recommendations,
social bookmarking
ļ¼ Insight ā customer insight
ļ¼ Impact ā business impact
Social Media Monitoring Tools āAudit, Assess, Impact
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22. The ā6Isā Approach
Insight and
Impact
Influence Involvement
Intimacy Interaction
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23. Bob Dylan
Come gather 'round people
Wherever you roam
And donāt criticise
What you can't understand
Your sons and your daughters
Are beyond your command
Your old road is
Rapidly aginā
Then you better start swimminā
Or you'll sink like a stone
For the times they are a-changinā
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24. Practical Advice
and Next Steps to
Avoid the Road to
Nowhere
āSocial Media Planning Paysā
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25. āGetting Thereā
ā¢ Get more involved
ā¢ Learn more
ā¢ Develop a strategy
ā¢ Implement
ā¢ Monitor Performance and Business Impact
Be Customer Led
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29. Develop a Strategy
ā¢ What is the overall social media vision for your organization?
ā¢ What are the key objectives and targets to be achieved?
ā¢ Who are your customers?
ā¢ What are the key actions and initiatives you need to take?
ā¢ Organisation, resource and people issues
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30. Key Questions to Address
ā¢ What is the overall social media vision for your organisation?
ā¢ What are the key objectives and targets to be achieved from
social media? Are these fully aligned with and supportive of
your overall business goals and objectives?
ā¢ Who are your customers? Where do you find them āhanging
outā on social media? How can you best engage with them?
ā¢ What are the main Social Media Actions and Initiatives you
need to take ā short, medium and longer term?
ā¢ What generic social media strategy should you follow
(number of channels used/ depth of engagement in each
channel)?
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31. Key Questions to Address
ā¢ For each priority Social Media Channel, what are your core
objectives for that channel; what KPIs will be used for
measuring on-going channel performance; what are your
targets for each KPI; what key tasks are needed to achieve
these targets?
ā¢ Do we have the right organisational ācultureā and āmindsetā for
Social Media? āBe social before doing social! Is the right
organisational and decision-making structure in place?
ā¢ Has agreement been reached on resource allocation?
ā¢ Who will be responsible for your social media activities? What
balance has been agreed between internal and external roles
and responsibilities?
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32. Key Questions to Address
ā¢ Who is the Social Media Champion?
ā¢ Do you have agreed Social Media Policies and Guidelines in
place covering āProper Useā, āContent Managementā,
āCustomer Response Times/Qualityā and āLegalā aspects?
ā¢ Performance evaluation and business impact
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34. Business Benefits
ā¢ Market Knowledge
ā¢ Customer Insight and Understanding
ā¢ Customer Interaction
ā¢ Enhanced Customer Experience
ā¢ Business Intelligence
ā¢ Reputation Management
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35. Business Benefits
ā¢ Improved Sales and Marketing
ā¢ Identify and network with high value, high growth prospects
ā¢ Product Development and R&D e.g. engage and co-create
ā¢ Internal cost savings
ā¢ Improved Operations and Internal Processes
ā¢ Increased ROI
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36. Potential Business Benefits
5 main areas:
ā¢ Market/Customer Knowledge & Insight
ā¢ Engagement & Reputation Management
ā¢ Enhanced Customer Experience and Loyalty
ā¢ Sales/Marketing Effectiveness, Efficiency and ROI
ā¢ Operations/ Internal Processes (open source and hosted apps)
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38. Be Customer Led
ā¢ Who are our customers, community, tribe?
ā¢ Where do they hang out in social media?
ā¢ How can we best use Social Media to deliver an
exceptional customer experience at all stages of the
customer life cycle?
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40. Who Are Your Customers?
ā¢ Your Social Media Strategy should be aimed at building a
āqualityā customer base i.e. a strong online network of high
value, high growth potential customers providing your
company with a strong foundation for achieving sustained
growth and profitability
ā¢ First step:
ā Undertake a detailed Customer Mapping and
Segmentation Analysis to identify your āMost Valuableā and
āMost Growableā customers (actual and potential)
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41. Strategically position your customers
on a Customer Value Matrix based on
ļ¼Customer Attractiveness
ļ¼Probability of Success
45. Business Benefits of this Approach
ā¢ Concentration of effort and resource on `qualityā customers ā your
āMost Valuableā and āMost Growableā customers
ā¢ Improved value delivery to existing high value customers. Build
learning relationships with them allowing you to better service their
emerging needs and wants through highly customised and
personalised products and services
ā¢ Maximise customer retention, loyalty and advocacy; āUpā and
āCrossā selling opportunities
ā¢ Maximise customer profitability and lifetime value
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46. Business Benefits of this Approach
ā¢ Acquiring new `qualityā customers becomes easier because you
have got it right for existing customers
ā¢ Cost savings and improved marketing/sales efficiency through
targeting limited resources on `qualityā customers (actual and
potential)
ā¢ Building sustained customer and competitive advantage through
customer differentiation and brand advocacy
ā¢ Erection of loyalty barriers preventing your competitors from
stealing your `bestā customers
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48. Monitoring the Conversations
ā¢ Use Social Media Monitoring Tools to identify where your
customers āhang-outā online and to monitor the conversations
relevant to your brand ā also for measuring the ābuzzā about
your brand
ā¢ No or low cost tools such as Google Alerts, Yahoo Pipes, Social
Mention, Topsy, IceRocket, Blogscope, Blogpulse and
ViralHeat
ā¢ More expensive and sophisticated tools such as Radian6,
Alterian SM2, Sysomos Heartbeat and Infegy SocialRadar
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53. Thank You
Questions
www.energise2-0.com
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Editor's Notes
Market Knowledge: Competitors, Suppliers, Buyers, Influencers; Google insight, Google Alerts will provide a view on most companies within an industry. Also, there are a range of blogs and networks where amateurs and professionals will share their knowledge of a market. Customer Insight and Understanding: Listening to customers and prospects through the range of channels they inhabit; comments on YouTube, Networks where they āhang outā Customer Interaction: the tools exist to not only listen and observe but also to discuss and converseBusiness Intelligence: media monitoring, alerts and related analysis tools provide a great source of structured Business Intelligence. You need not pay Ā£600/month for the privilege, SocialMention and Google Alerts can keep you informed where you need to be. Reputation Management: one of the key aspects of web 2.0 is that it is Real Time. You can see and respond to comments as they arise and often, where the response is efficient and effective, create a positive effect. Consider, the Ethiopian Growers that challenged the coffee used by Starbucks in a video posted on YouTube. This video was viewed by 10,000 people. The CEO posted a response within 24 hours on YouTube, the response was viewed by several million.
We believe there is a strong correlation between positive word of mouth, online buzz and sales and marketing. Needless to say there are now numerous means of getting your message out there, growing followers (through sites like Twitter, and energising your customer base). Web 2.0 is immediate and direct. The example I like to use is of a safety harness company based in Edinburgh who considered using a traditional approach to International Sales and Marketing ā find an agent, find prospects, etc. An alternative approach we suggested, used LinkedIn to find the Health And Safety Director of the largest Construction Project in the world. Now it is not a leap to suggest filming the harness on YouTube and sending an email with a link saying you are in Saudi Arabia and would he like to meet up. Numerous examples of customer insight and feedback leading to product improvement. Many car companies use Second Life to test their designs. A site called eBags sends out the latest designs to their top raters on the site. Internal cost savings. No 10 Downing Street exampleā¦Improved Operations and internal processes. There are applications for literally anything ā wikis that compete with licenced intranets, email freeware that is better than Outlook, hosted network sites for Ā£20/month that would cost Ā£thousands to replicate. Increased Return on Investment. The holy grail or the achiles heal of Web 2.0. How do you make money from this thingā¦there is a growing level of evidence to suggest that it works.