Engagement: the key to social media success in 2010

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Social media has gone beyond a social presence, Success in 2010 means you have to listen, learn and respond and then engage your audience.

Social media has gone beyond a social presence, Success in 2010 means you have to listen, learn and respond and then engage your audience.

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  • We were founded by Fred Luddy, whom was the CTO of Peregrine Systems for 13 years. Fred left Peregrine to build a company with unique technology and business model focused on customer success. We are the industries first IT management software as a service vendors and one of the few SaaS notable SaaS companies in the world. We compete with the largest software vendors (HP, BMC, CA). Because what we do is vastly different than our competitors, we are in a position where we are required to be aggressive.
  • We were founded by Fred Luddy, whom was the CTO of Peregrine Systems for 13 years. Fred left Peregrine to build a company with unique technology and business model focused on customer success. We are the industries first IT management software as a service vendors and one of the few SaaS notable SaaS companies in the world. We compete with the largest software vendors (HP, BMC, CA). Because what we do is vastly different than our competitors, we are in a position where we are required to be aggressive.
  • @themediaisdying Old media is dying in large part because they can’t afford to release control of the message. The technology trade publications used to be phone book sized. Last week’s Computerworld was as thin as a pamphlet. We’ve seen what customer references like BCBS of Minnesota can help us do. But it is up to us to help them tell their story. Ohio Health and Progress Energy at Pink Elephant. Technology makes new relationships possible. This is social media. I was having a tweetversation with a guy about bad software vendor practices. Told him about how Fred and Service-now.com are out to atone for software sins of the past. Mike at Qualcomm jumped into the conversation and vouched for us. Or another time I asked for Service-now.com customers on Twitter to validate a point I was making and a few jumped right in and vouched for us.
  • We should all be familiar with the community, wiki and forum. If you have ideas for a blog post and don’t have time to write about it yourself, let me know. We’ll see if we can get around to it. The beauty of blog posts is that it is stuff that you can’t necessarily put on the website and it is living. Once you have the content it can be repurposed infinitely. Blogs don’t have to be long, they should just provide some type of value. Blogging is the foundation of the social media conversation. We need to make sure we promote and not kill the conversation. I’m cybersquatting on servicenow and servicenowcom. If anybody has any good ideas for these accounts. I’d be happy to turn them over. Pick a short but recognizable name. Let’s check out John Roberts’ follow list. Even if someone is not following you, if they are using a client or monitoring their name, they will most likely see that you @replied to them and there is a good chance Please don’t answer the question what are you doing? These types of posts unnecessarily clog the internets and waste time. You can always tell when someone is new to Twitter (or that they hail from Facebook) if they post, “eating breakfast” D – private message (that person has to be following you) Be careful with this one. Don’t use for anything that is really confidential. RT – like an email forward @ - like an email reply. Meaning is lost so try to capture the essence in your response. # - hashtag designation. It really doesn’t do anything other than let people know that it is an accepted search term for a particular topic. It also hyperlinks to Twitter search within a client. HP analyst event example. Great way to promote Twitter community and conversations. Time management using a client, search and Twilerts. Search is where I would start if I were a sales guy. Give example of @chadsirc
  • Second consecutive year of cash-flow positive operation $21M in recurring revenue 389% YoY rev. growth Strong cash position Equates to $100M traditional software supplier Expect profitability by end of FY09
  • Continued growth of lead generation, maintain >50% conversion Better define process and procedures for lead follow-up Improved analytics regarding prospect activity

Transcript

  • 1. Engagement : The key to success in 2010 How engagement affects your bottom line
  • 2. Presenters
    • Sally Falkow PR Trainer of the Year
    • Rebecca Lieb
    • VP, Econsultancy.com
  • 3. Why Engage?
    • “ If we trust our customers, we can actively listen to what they’re saying.
    • “ We can build the right product for our customers, instead of finding the right customers for our products.”
    •  Steven Covey, author, The Seven Habits of Highly Effective People
  • 4. ENGAGEMENTdb Study
    • Key finding: those companies with the highest engagement factor also had the best financial results over the last year
    •  
  • 5.
    • We’re not talking about a presence in the online social sphere
    • It’s not using these channels to broadcast messages
    • Engagement is deep and meaningful social interaction with your stakeholders
    What is Engagement?
  • 6.
    • 26 percent of these companies are active on Twitter
    • 37 percent are on LinkedIn
    • 11 percent have a Facebook page
    • Just over a half have a newsroom on their website
    • Only 7 percent optimize their news content for search
    • Just 16 percent are actively engaging their customers
    Entrepreneur Magazine’s “Hot 100”
  • 7.
    • 25 percent are active on Twitter
    • 46 percent are on LinkedIn
    • 31 percent have a Facebook Page
    • 19 percent are engaging with customers
    Inc. Magazine’s 500
  • 8.
    • 54 percent have a Twitter feed
    • 94 percent use it for news and announcements
    • 47 percent are on LinkedIn
    • 32 percent have a blog
    • 44 percent have a Facebook page
    • Only 17 percent use all three
    • 22 percent are actively engaging customers
    Fortune 100
  • 9.
    • People talking about your brand/product/company
    • Storing and sharing content
    • Visiting more frequently
    • Giving feedback
    • Leaving comments
    • Referring your company to their friends
    • Loyalty to your brand
    What Shows Engagement?
  • 10.
    • The type of behavior most likely to help organizations is the recommendation of product, service or brand
    • However, marketers are benefiting more from the relationship-building aspects of customer engagement, rather than the more direct financial benefits
    • Source: Econsultancy.com
    Benefits of an Engaged Customer
  • 11. Interest in Customer Engagement Econsultancy Engagement Report
  • 12.
    • The engagement gap refers to the difference between the influence of the internet in consumer decision-making and the amount of spending, and effort, by corporations and organizations in trying to interact with and shape the thinking behind those decisions
    CMO Engagement Gap
  • 13.
    • The move to quantify “customer affinity” and increase “customer advocacy” has become a new measure of effectiveness
    • -- CMO Council
    Key Finding
  • 14.
    • Most marketers and corporations are now looking to reduce costs in order to improve the bottom line
    • Current economic indicators point to a vital need for business revitalization through better customer engagement and analytics
    • -- CMO Council
    Focus on the Bottom Line
  • 15.
    • There are thousands of social media channels, each with a slightly different value proposition
    • It’s a daunting task to objectively evaluate various marketing efforts across all social mediums
    • Engagement is the best criterion
    •  The Wetpaint/Altimeter Group ENGAGEMENTdb Report
    New Measurement of ROI: Engagement
  • 16.
    • As the number of channels increase, overall engagement increases at a faster rate
    Engagement
  • 17.
    • Companies that are both deeply and widely engaged in social media surpass their peers in terms of the two most meaningful financial performance metrics – revenue and profit –
    • by a significant difference
    •  The Wetpaint/Altimeter Group
    Engagement: The Lifebelt
  • 18.
    • These highly engaged companies grew, on average , 18 percent in revenues over the past 12 months, compared to the least engaged companies who, on average , saw a decline of 6 percent in revenue during the same period
    • The same holds true for two other financial metrics, gross margin and net profit
    •  The Wetpaint/Altimeter Group
    What is the Bottom Line?
  • 19.
    • Engagement can’t be skin-deep, nor is it a campaign that can be turned on and off
    • True engagement means full engagement in the channels where you choose to invest
    • So make sure you pick correctly and wisely
    Why You Need a Strategy
  • 20.
    • Those brands that are deeply engaged have sustained strong revenue and margin growth in spite of the current economy
    Revenue and Profit
  • 21.  
  • 22.
    • Small team of 6 people
    • Launched MyStarbucksIdea.com
    • Involve people throughout the organization
    • Understand the various channels of engagement
    • Consistency of approach and experience
    • C-suite champions
    Starbucks
  • 23.  
  • 24.
    • 35 people
    • Managing a community of 1.7 million users
    • Opened the platform to anyone and everyone
    • Two-thirds of contributors represent customers, thought leaders, analysts, and partners from the broader SAP ecosystem
    • Encourage employees to use social media for work
    • Engage in new channels where people already are
    SAP
  • 25.  
  • 26.
    • Started from crisis mode – “Dell Hell”
    • Very conversational
    • IdeaStorm.com
    • Social media becomes part of the job – like email
    • Synchronized content across channels
    • Went from worst to first
    Dell
  • 27.
    • Listen to your customers, users, readers and stakeholders
    • Find detractors and evangelists
    • Learn from them
    • Let them contribute
    • Be open to their ideas and comments
    • Respond, answer comments
    The Strategy
  • 28. Find Communities and Identify Influencers 600 Beauty Bloggers (US only) 26 in Head 106 in Magic Middle 460 in Long Tail Top 60 Map
  • 29.
    • Use what you learn in the listening phase
    • Find the right influencers for your space
    • Audit your current content assets
    • What can you make digital?
    • What tools make sense?
    The Strategy
  • 30. Find Communities and Identify Influencers Magic Middle Map Cluster View Brand View 1 Color = 1 Cluster Orange=Lancome, Green=Clinique, Yellow=Both, Blue=None
  • 31. Engagement
    • What will engage your audience?
  • 32. Engage and Facilitate Conversations
    • Comments
    • Tell a friend
    • Rate
    • Recommend
    • Subscribe
    • Favorite
    • Feedback
    • Alerts
  • 33. Engage and Facilitate Conversations Track your engagement Engage for Best ROI
  • 34. Case Study: David’s New “Rock-and-Sling” How Service-now.com is Beating Goliath
  • 35.
    • Great product, visible CEO, early customer wins
    • Limited:
        • Collateral
        • Tradeshow footprint
        • Webinar activity
        • PR
    • Lead generation limited to cold calling and four industry events
    • No social media
    Service-now.com Two Years Ago
  • 36.
    • Competing against Goliaths
    • The Gmail of big business service desk software
    • “ Sling” = disruptive technology
    • “ Stones”= customer champions
    • Rapid growth
    Situation
  • 37.
    • Listening to prospective customers
    • Knowing the buyers
    • Knowing the competition
    • Finding the “slings” to make headway in the market
    • Identifying market champions to tell their stories
    Campaign Research
  • 38. Sources of Exposure social media exec briefings website email whitepapers press analysts sales prospecting webinars community industry events regional events list imports wiki online demo topical / demo local user groups ITtoolbox
  • 39.
    • Mass media have changed
      • ▪ Print newspapers ▪ Magazines or pamphlets?
    • Marketing is questioned
      • ▪ Who do you trust? ▪ LinkedIn is social media-speak for Rolodex ▪ The power of a customer reference ▪ A plug at a trade show
    • Information has been democratized and individualized
      • ▪ One-to-many is now one-to-one ▪ This is Web 2.0
    Social Media Levels the Playing Field
  • 40.
    • Legitimacy + authenticity = relationships
      • Identify yourself
      • Be respectful
      • Stranger danger
      • Add value
      • Permanency can be good and bad
      • Stay relevant
      • Listen to the market
    Battlefield Strategy
  • 41.
    • Blogging
        • Community, Wiki, Forum
        • Create content, link, tweet, comment, repeat
        • Policies regurgitate common social sensibilities
        • Encourage customers and partners
    • Twitter
        • Microblogging
        • Getting started
          • Your Twitter name
          • See who other people are following
          • Follow folks and engage
          • What aren’t you doing?
    • A sampling of others: Facebook, LinkedIn, YouTube, Slideshare
    “ Slings”
  • 42. FY 10 08 07 06 09 $1.8M $8.8M $13.9M $28M Current FY goal = $50M+ customers solid product entrance market market redefined ITSM provider leading standard ITSM ITSM orchestrate
  • 43. webinars industry events Q3 ’09 Q2 ’09 Q1 ’09 Q4 ’08 Q3 ’08 Q2 ’08 Q1 ’08 Q4 ’07 white papers web registration
  • 44.
    • Press releases take on a different role
    • Industry validation
    • Lead generation and promotion efficiencies
    • Global and regional events – to go where they are
    • Monthly newsletters
    • Video training
    What’s Next?
  • 45.
    • Add RSS Feeds
    Syndicate the Content
  • 46. Court Social Media Traffic
  • 47. Case Study: Skin MD Natural
  • 48.
    • Launching a new kind of lotion
    • New category
    • No public awareness at all
    Situation
  • 49.
    • Consumers are using search engines to research products and services
    • The most trusted forms of advertising today are word-of-mouth from other consumers, opinions posted online and branded websites
    • One of the top five influences prior to purchase is reading an article
    Campaign Research
  • 50.
    • The campaign aimed to reach consumers online through high search rankings on specific keywords and phrases, articles, blogs, newsgroups and forums
    • Create a new search term – “shielding lotion”
    • Create awareness of the brand Skin MD Natural with dermatologists and the public
    Objectives
  • 51. Consumer Education
  • 52.  
  • 53.  
  • 54.  
  • 55.  
  • 56.  
  • 57.  
  • 58.  
  • 59.  
  • 60.  
  • 61.  
  • 62.  
  • 63.  
  • 64.
    • More than 400 bloggers talking about their products
    • Conversations in targeted forums and blogs
    • Increased traffic to the website
    • Product in over 5,000 pharmacies across the US
    • Partners in many other countries
    Payoff
  • 65.
    • Current economic indicators point to a vital need for business revitalization through better customer engagement and analytics
    Engagement is the Key
  • 66.
    • Download now at:
    • www.marketwire.com/mkt/PDF/Marketwire_White_Paper_Engagement.pdf
    • or:
    • download from thank-you email
    White Paper
  • 67.
    • Expansionplus.com
    • Econsultancy.com
    • Press-feed.com
    • Proactivereport.com
    • [email_address]
    • Marketwire.com
    • Marketwireblog.com
    • www.SM10X30.com
    Resources
  • 68. Q & A