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Is Your Company Social?

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Social Media is a powerful way for organizations of every size and industry to interact with their customers, critics, fans, and partners. The introduction of Social Media has enabled users to post …

Social Media is a powerful way for organizations of every size and industry to interact with their customers, critics, fans, and partners. The introduction of Social Media has enabled users to post comments, thoughts and opinions about services and products. With the increased frequency of participation in these sites, users are quickly becoming co-contributors to your brand — making it difficult to control your own messaging. This complimentary webinar is great for marketers looking to quickly get up-to-speed on the elements of Social Media, and more importantly, how to leverage those elements to increase ROI and take control of brand positioning.

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  • 1. Is Your  Company  Social? S i l?
  • 2. Agenda: What Will We Cover? 1. Is Your Company Social? p y 2. What Is Social Media? 3. Is There Business Value 4. How Do We Get Started? 5. What Constitutes Success? What Constitutes Success? 6. What Are The Key Elements? 7. What Are The Phases Of A Social Media Program? What Are The Phases Of A Social Media Program? 8. What Brands Are Good At Social Media?
  • 3. Role of Advertising, Marketing & Public Relations IS YOUR COMPANY SOCIAL? IS YOUR COMPANY SOCIAL?
  • 4. Common Marketing Objectives Odds are your company’s marketing objectives are to … Build Product Awareness Create Interest & Demand Using tactics like … Reinforce Brand Loyalty Media Relations Provide Information Media Tours Drive Leads Newsletters Increase Revenue Increase Revenue Special Events Special Events Speaking Engagements Sponsorships Employee Relations Community Relations and Philanthropy or traditional media like … d l d lk
  • 5. Using …
  • 6. Using …
  • 7. Using …
  • 8. Using … g
  • 9. What do all these marketing  g efforts have in common? They only facilitate one  way flow of information. fl fi f i What we want to do  is facilitate two way  conversations. 
  • 10. … but, we all know … in business,  relationships and  Conversations are critical.
  • 11. A New Set of Tools WHAT IS SOCIAL MEDIA? WHAT IS SOCIAL MEDIA?
  • 12. Introduction to Social Media 
  • 13. Let’s Start with Something Familiar Public relations (PR) is the practice of managing the flow of  information between an organization and its publics.  information between an organization and its publics (Wikipedia) Marketing (traditional) is the activity set of institutions and (traditional) is the activity, set of institutions, and  processes for creating, communicating, delivering, and  exchanging offerings that have value for customers, clients,  partners, and society at large. (AMA) d l Advertising is a form of communication that typically attempts is a form of communication that typically attempts  to persuade potential customers to purchase or to consume  more of a particular brand of product or service. (Wikipedia) 
  • 14. The Optimal Flow of Information Interaction and facilitation  of three‐way conversations: of three way conversations: Consumers 1 company  to consumers Social Media 2 consumers to consumers  Consumers 3 consumers to company Company
  • 15. Social Media is … Social media is primarily a collection of Internet‐based  tools for sharing and discussing information among  t l f h i d di i i f ti human beings. (Wikipedia) … the toolset of Web 2.0 technologies and websites that allow for the  creation of (On‐site), and participation in (Off‐site), virtual online  communities. Social Media Optimization is the process of maximizing  Social Media Optimization is the process of maximizing your exposure across all web communities related to  y your products, services or opinions. p , p
  • 16. Where Does SM Fit in the Mix? Online Traditional Catalogs Search Engine  Search Engine Association  Optimization Meetings Direct Social Media  Mail PPC The Web Trade Shows Email Magazines k i Marketing Websites Newspapers Distributor  Shows
  • 17. … Same Marketing Objectives • B ild P d t A Build Product Awareness • Create Interest & Demand • Reinforce Brand Loyalty Marketing Objectives • Provide Information • Drive Leads  Di L d • Increase Revenue Strategies Social Media does not have to change marketing objectives Must follow and foster brand values • Blogs • Podcasts • Social News • Forums • Streaming Video Streaming Video • Micro Blogging Micro‐Blogging Tactics • • Ratings / Reviews Social Networks • • Photo Sharing Life Stream  • Hub Sites • Widgets Aggregators Outcomes O t
  • 18. DISCUSS LISTEN PLAY CREATE
  • 19. Social Media: On‐site Inside your domain:  Elements on your website that create  g y g g “stickiness” or get users to stay for a longer visit and generate  content (UGC) Ratings Reviews Forum Community Sites Streaming Videos Blogs  Social Bookmarking
  • 20. Social Media: Off‐site Outside your domain:  Content that positions or talks about  your company / brand / product on the Internet Search Engines Blogosphere User Reviews Social Networking Social Networking
  • 21. Social Media Profiles Creators Joiners Publish a blog Visit social networking sites Publish own web pages Publish own web pages Maintain profile on social  p Write and post articles networking sites Upload self‐created videos Critics Spectators Comment on a blog Read blogs Comment on a forum  Listen to podcasts Rate/review products Watch videos Contribute to a wiki Read online forums Read ratings/reviews Collectors Inactives Add tags to web pages/photos None of the above Vote for web sites online Use RSS feeds
  • 22. Stats on Social Media Adoption IS THERE BUSINESS VALUE? IS THERE BUSINESS VALUE?
  • 23. Who Do Your Customers Trust? The average person is exposed to 3000 advertising  messages/day Only 14% of people trust advertisements y p p Source: Nielsen” Trust in Advertising” Report, October 2007 32% trust bloggers opinions on products & services Source: IAB Platform status Report: User Generated Content, social media, And  Advertising – An Overview, April 2008
  • 24. 93%  93% of Americans expect  of Americans expect ource: Cone, Inc. companies to have a  presence in  So Social Media
  • 25. Web 2.0 Spend Expected to Increase Each Year ster Research ,Inc. Source:  Forres
  • 26. Social Networking Stats 27
  • 27. So … is there business value for being involved in Social Media?
  • 28. Preparation for a Social Media Program HOW DO YOU ASSESS YOUR  HOW DO YOU ASSESS YOUR CURRENT SOCIAL MEDIA STATE?
  • 29. Determining Current SM State Identify  Analyze  Topics to  Trends and  Talk About Conduct  Patterns p Competitive  Assessment Understand  Your Audience Review  Business  Goals
  • 30. Review your Business Goals Perform an internal audit to identify & review current:  Marketing Strategies & Objectives Marketing Strategies & Objectives CRM Initiatives Understand your current: Tactics Challenges Opportunities Metrics for Success
  • 31. Understand Your Target Audience Conduct a web‐survey off your website to get a  temperature check and determine where they  participate and what interests them Determine what they are talking about and how they  Determine what they are talking about and how they feel about your brand Tools: google.com/alerts, blogscope.net, search.twitter.com,  co.mments.com, trendrr.com Identify influential online individuals Tips: http://videolectures.net/wsdm08_agarwal_iib/ Pinpoint commonly used keywords p y y Tools: brandtags.net
  • 32. Conduct Competitive Assessment Determine how your company stacks up … Brand awareness & reputation: Tools: google.com/alerts, blogscope.net, search.twitter.com,  g g / , g p , , co.mments.com, trendrr.com Gaps or opportunities in the Social Media space: p pp p Tools:  yacktrack.com/home, alltop.com, dipity.com Keywords your competitors are using: Keywords your competitors are using: Tools: http://searchanalytics.compete.com/site_referrals
  • 33. Analyze Trends and Patterns Trends in: Participation Consumption Adoption Patterns: Seasonality Critical Mass of Audience: Tools: boardtracker.com, technorati.com, alltop.com, touchgraph.com Validate Influential Individuals: “Follow” these individuals on Twitter Subscribe to their RSS Feeds S b ib h i SS d
  • 34. Identify Topics To Talk About Look for potential content in: Customer Service Logs C t S i L FAQs Recommendations Success Stories  Review what has already been said about the company: Review what has already been said about the company: Tools: co.mments.com, search.twitter.com
  • 35. Make Data Driven Decisions Make Data Driven Decisions Use Key Findings to Develop Your Social Media Tactics Business Goals Resources • Increased sales • Content • Brand awareness • Technology • Service customers Service customers • Subject Matter Experts Subject Matter Experts • Budget Users Goals Industry Trends y • Find Info • Web 2.0 • Get support • Competitive Landscape • Buy Now • Increased spending • Social Networking Tactics T ti
  • 36. Guidelines for Developing & Deploying a Social Media Program HOW DO WE GET STARTED? HOW DO WE GET STARTED?
  • 37. SM Campaign vs. SM Program Comparison Point Campaign Program … has a defined START date   … planned to meet a specific goal(s) l dt t ifi l( )   … can incorporate prizes or other incentives   … can be tied to an event or special news   … has a theme or creative concept   … has a defined END date  Key Point:  As your Social Media activity increases and  evolves … your audience engagement will also increase. evolves your audience engagement will also increase So, why should it end?
  • 38. Process for Getting Started Apply clear  Allocate the  Build a  Determine  strategies &  manpower playbook costs objectives Is your company  ready?  ready?
  • 39. Apply Clear  Apply Clear Strategies &  Objectives Reminder:  Social Media strategy  and objects should align with  j g overall marketing goals and  reinforce brand values.
  • 40. Allocate the Manpower Allocate the Manpower Tip:  The Social Media team  p should be passionate about  participation.
  • 41. Define your  … y Social Media Team Executive Champion Internal Community  Program Leader Internal Community  Internal Community Program Manager  Refine your … Policy & Protocols Communication Plan  Roles and Responsibilities 
  • 42. Build a Playbook Build a Playbook ild l b k Reminder:  The Playbook is living  document and should evolve with  document and should evolve with the Social Media program.
  • 43. Elements of a SM Playbook Strategy & Objectives Social Media Vision Theme / Messaging Brand Guidelines Creative Elements Participation Policies & Protocols Staff User‐Generated Content Content Mapping Content Mapping Technology Platform / Tactics Feedback Loop / Action Plan Feedback Loop / Action Plan
  • 44. Determine the Costs Variables that contribute to SM program costs: Technology and Custom Development T h l dC t D l t Bandwidth and Infrastructure Investments Team Training and Industry Research Continuous Program Management/ Maintenance Participation and Moderation Content Enhancement Content Enhancement Unexpected Events
  • 45. Social Media Efforts Are Measurable WHAT CONSTITUTES SUCCESS? WHAT CONSTITUTES SUCCESS?
  • 46. Quantitative Measurements Number of page views Number of widget downloads Number of responses/comments Number of pages bookmarked Number of content embedment Number of bloggers engaged Number of downloads Total traffic driven to destination page Number f h N b of shares Total t t/ T t l text/email subscriptions il b i ti Number of blogs posts & references Number of new links secured by social media marketing Ranking for organic search Number of video views Number of inbound links Number of ratings, reviews and votes Number of friends, fans, members and subscribers Number of pages forwarded Ranking on social bookmarking Conversion rate of referral traffic platforms Time on site Number of mentions from micro blogs
  • 47. Qualitative Measurements Corporate Reputation Negative/Positive Relationship Ratio Customer Opinions and Wishes
  • 48. Measuring Success Social Media efforts can be held to familiar KPI’s: Frequency Reach Impact ROI =    BENEFITS COSTS + RISKS
  • 49. Determining ROI =    BENEFITS COSTS + RISKS BENEFITS 1. Research value:  # of valuable comments & feedback x cost for 1 minute interview 2.    Impact: 2 Impact: estimated conversion rate x revenue per conversion x reach x frequency • Reach:  # of viewers x word‐of‐mouth value • Frequency :  average # of repeat visits / time
  • 50. Determining ROI =    BENEFITS COSTS + RISKS COSTS 1. Start‐up Costs (planning, development, and training) 2. Maintenance Costs (moderation and participation) 3. Risks (probability of risk x potential cost of risk)
  • 51. Conclusion WHAT ARE THE KEY ELEMENTS? WHAT ARE THE KEY ELEMENTS?
  • 52. Key Elements of Social Media Program must add value for the audience: Successful social network marketing caters to the needs of the  participating community before anything else If the network has no value, what’s the point? Promote socialization / conversation: Social Networks are not static websites … success is measured  S i lN t k t t ti b it i d on the amount of user activity Users should be able to share, communicate, and express their  thoughts with other users
  • 53. Key Elements of Social Media Value 1. The marketing effort provides valuable content that supports the users’ goals* 2. 2 The key elements of the marketing effort are available where needed* 3. The marketing effort allows for the measurement of ROI Socialization 4. The marketing effort should be self-fueling* 5. The marketing effort should encourage member-to-member participation* 6. The 6 Th marketing effort should encourage member-to-website i t k ti ff t h ld b t b it interaction* ti * 7. The company participates in the effort on an ongoing basis* 8. The marketing effort allows the members to share the elements with other locations* 9. There are appropriate calls to action* 10. The marketing effort integrates several Social Media platforms * Source:  Forrester Research Inc.
  • 54. Listening, Participating & Motivating WHAT ARE THE PHASES OF A  WHAT ARE THE PHASES OF A SOCIAL MEDIA PROGRAM?
  • 55. Phase One: Active Listening Phase One: Active Listening : Active Listening Researching & Analyzing the Landscape
  • 56. Phase Two: Participation : Participation Getting Involved Getting Involved
  • 57. Phase Three: Energize & Motivate Phase Three: Energize & Motivate : Energize & Motivate Igniting the Social Media Atmosphere
  • 58. The Phased Approach Energize & Motivate conversa Determine Technology Accelerators* ations Participate Phase  Phase Develop Hedgehog Concept D l H d h C t 3 Phase  Phase Active Listening 2 Get the Right People on the Bus Phase  Phase 1 time
  • 59. Social Media Examples WHAT BRANDS ARE GOOD AT  WHAT BRANDS ARE GOOD AT SOCIAL MEDIA?
  • 60. B2B Social Media Example Cisco’s online community receives more than 20,000  visits each week Benefits: Creating awareness Creating awareness Building brand preference Driving purchases Increasing loyalty Deepening engagement Foster peer‐to‐peer  B2B Example Forum communication
  • 61. B2C Social Media Example H&R Block populated Social Media platforms including  YouTube, Twitter, Facebook, MySpace, and Second Life Results (in 1 year): 43% more awareness more awareness 6 million impressions  in the blogosphere More than 570,000  views of Truman  Greene videos Greene videos 60,000 interactions  with widgets and tools g
  • 62. Non‐Profit Social Media Example The National Wildlife Foundation participated on Digg and StumbleUpon. Results (in 2 months): More than 100,000 page  More than 100 000 page views generated from  these platforms Bring in 95% unique  visitors Digg drove 29 183 page drove 29,183 page  views in one day
  • 63. Increase in Participation from 2007 to 2008
  • 64. PARTNER. PARTNER INTEGRATE. INTEGRATE MEASURE. MEASURE BusinessOnLine isn’t afraid of commitment. We partner with our clients, take the time to understand your business, goals, customers, and vision, and we work with you to achieve success. y g y We help you develop plans and tactics to engage your audience, and persuade them to take action. We can integrate activities to enhance efficiency and maximize impact. g y p We gather data, provide insight, and make recommendations. By tying analytics to everything we do, we articulate marketing ROI, focus on efforts that produce results, and refine programs that do not d l deliver.
  • 65. Thank you! Thank you for taking the time to learn about our approach to Social  Media.  Please follow our continuing Social Media series of webinars  Media Please follow our continuing Social Media series of webinars and whitepapers on our website:  www.businessol.com Contact Information: Michael Weisfeld Phone: 619.699.0767 x247 michael@businessol.com 610 West Ash Street, Suite 1701 San Diego, CA 92101 www.businessol.com
  • 66. References Statement Source 1 93% o 93% of Americans expect companies to have a presence in social media e ca s e pect co pa es to a e a p ese ce soc a ed a Cone, Inc.  o e, c 2 Increase in participation from 2007 to 2008 Forrester Research, Inc.  3 Web 2.0 spend expected to increase each year Forrester Research, Inc. 4 Youths are more likely to be frequent, regular users of social networking  Forrester Research, Inc. sites i 5 Worldwide growth among selected social networking sites comScore World Metrix 6 Toyota discussion forum sentiment Attentio.com 7 Sentiment of social network groups Immediate Future