Hands- on Social Media 7: Building And Selling Social Strategy

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    They might think they have an idea of what type of online marketing services they need to employ, but this is often a trend or knee jerk reaction Assuming they are forced to justify expenditures and prove ROI, you need to work with them to identify first the objective and then the tactics (or services) to best achieve those objectives Your job is to make sure your client or prospect understands your ability to assist them with creating strategy utilizing a myriad of tactics to help them prove ROI, increase revenue and ultimately make them the superhero within their organization. Position yourself as their trusted advisor and educate them, if necessary, on the various tactics they might use to accomplish their goals Don’t forget or allow them to forget that it costs much less to keep a client than to continually go get new ones – online is a fantastic strategy for customer retention if it is planned and executed properly Don’t plug in a specific online tactic such as social media, which happens to be the “hot” thing right now, to satisfy the pressure they might be getting from higher up in the organization if the tactic is not part of a larger strategy HOT TIP: The average CMO’s tenure today is less than 24 months; the pressure is HIGH and agencies often get caught in the transition from one to the next – do whatever you can to get exposure to multiple layers and divisions within the organization to ensure you are maximizing your potential across multiple divisions AND making it more difficult for a new CMO or other marketing executive to come in and replace you with their personal agency of record or choice as an easy way to appear to be “shaking things up” REFERENCES (for workbook?): http://www.lifeismarketing.com/2007/06/cmos-get-fired-quickly-in-publicly.html http://www.lifeismarketing.com/2007/05/agencies-or-clients-who-is-worse.html http://images.google.com/imgres?imgurl=http://marketingdriven.blogspot.com/CMO_SeptCover_72dpi.jpg&imgrefurl=http://www.lifeismarketing.com/2007/06/cmos-get-fired-quickly-in-publicly.html&h=495&w=400&sz=71&hl=en&start=1&sig2=Jg5MJsOM-XkItbgwDsNlRw&usg=__iYqUy8sV6pUTXhyIQb4TysyZAM0=&tbnid=lSezhYtsKVCFnM:&tbnh=130&tbnw=105&ei=eyf1SJerGoeKebvEwYYO&prev=/images%3Fq%3DCMO%2Bphoto%26gbv%3D2%26hl%3Den

    Ask how many people are using social networking today?

    KIMBERLY: Blue sky meetings where anything goes Competitive research – online surveys and user forums are quick, cheap and deliver a considerable amount of good data

    KIMBERLY: Not “retainer” in the traditional agency sense of the word; this is a monthly ongoing retainer to execute specified work

    KIMBELRY: Use this when you have more upside by taking some risk than by going with a straight retainer Is becoming necessary or expected to use this with retail clients (DoubleClick)

    Pricing depends on what level you’re selling within POST

    Some things are BIG ideas and worth more than production work / tactical execution

    Are they afraid of “social”

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    Hands- on Social Media 7: Building And Selling Social Strategy - Presentation Transcript

    1. hands on social selling social aug 31/sep 1, 2009
    2. Your clients are:
      • Unfamiliar, for the most part, with all of the social options out there to achieve the desired impact
      • Forced to justify all expenditures and prove ROI
      • Looking for new ways to connect with and maintain customers
      • Under pressure to perform NOW
    3. Meanwhile, customers are:
      • Shopping and engaging products via multiple channels
      • Inattentive, unavailable and in control of messages they receive
      • Talking, texting, writing, blogging, tweeting, prognosticating, etc. about brands
    4. The question is not “how do you sell social”. Rather, it’s HOW DO YOU NOT SELL SOCIAL!
    5. You are the key to success.
      • You personally are most likely going to be in the sales process for new or existing clients.
        • You must be on board with this.
        • You have to think and act differently.
        • You should use the medium & be able to talk about it.
      • BOTTOM LINE: You need to be a true sponsor within your organization
    6. #1 Do It Yourself
    7. Self Assessment
      • Develop your own plan
        • Adhere to it!
      • Outline your social presence
      • Document an update frequency
      • Know your story
      • Watch your metrics
      • Evaluate regularly
    8. What would clients see?
      • Search for yourself
      • Check your own sentiment
      • How do you compare to competitors?
      • Would you hire yourself?
    9. Qualifying the customer
    10. Asking the right questions
      • Create your client criteria for social strategy services, i.e.:
        • Are their customers looking for them or talking about them online?
        • Does the decision-maker have an understanding of how social strategy “fits”
        • Is there adequate budget to “go around”?
        • Is the client executing upon social campaigns now?
          • How is this being done?
        • What are the results? What is being measured?
    11. What are the red flags?
      • Warning signs that client is not a good fit:
        • Not a dedicated focus on marketing team (IT making online marketing decisions)
        • No existing Web presence
        • Too much education required
        • Many in-house resources
        • Against social media
        • GUT INSTINCT
    12. Establish a set of imperatives.
      • This is the information you require of the customer before considering social strategy work.
      • Follow the practice of obtaining this information and save time and money.
      • Follow the money and you generally end up with big headaches.
    13. The 2 most important thing to do.
      • Understand (or help create) the client’s clear and quantified objectives centered around this effort – what are they trying to achieve.
      • Don’t let the client start with the tactics or technology. If the client says they need a blog, understand why. Your value might come in selling why they don’t need one.
    14. The wisdom of crowds.
      • There are so many options and directions to take, getting a core group together is often a big help early in the sales process.
      • Pull together your people who are online frequently to help, regardless of role within the agency.
      • Make sure that ideas all tie back to the objective.
    15. How to price social media engagements
    16. Budgets.
      • Set Realistic expectations
        • On their part AND yours
        • Don’t “give away” online
        • Know what your minimums are to be profitable
        • Be prepared to say NO
    17. Ways to price.
      • Retainer
      • Project
      • Pay for performance
      • Pay per action
      • Hybrid
    18. Retainer.
      • When to use – type of client
        • New industry/vertical
        • Work that is expected to be ongoing indefinitely
      • What to expect
        • Growth if you perform well
        • Demands from client
        • “ What about me” concerns about service and strategy contributions
    19. Project-based.
      • When to use – type of client
        • May be used in conjunction with Retainer work
      • What to expect
        • Scope creep
        • Client approvals and/or requirements will impede project timeline
        • Additional project/growth opportunities if you perform well
    20. Pay per action.
      • When to use – type of client
        • Industry/vertical in which you have a lot of experience and proven success
        • Client with conversions of online sales, forms, calls to unique number from site
        • Client with analytics and end to end conversion measurement in place
        • Client that will allow you the access you need to report on results
        • Client you are confident you can retain for more than 12 mos.
      • What to expect
        • IT push back & challenges getting tracking mechanisms in place
        • Client scrutiny of actions for which you are to be paid
    21. Pay for performance.
      • When to use – type of client
        • Industry/vertical in which you have experience and proven success
        • Client who will pay you a “kicker” for a pre-defined success target
      • What to expect
        • Tracking MUST be in place
        • Performance metrics MUST be clearly defined and agreed to in writing
    22. Hybrid.
      • When to use – type of client
        • Client where social strategy calls for some tactics that can be measured all the way through conversion and some tactics that can not
        • Client who can get more budget based on results; marketing isn’t expense but COS
      • What to expect
        • Similar to Pay for performance and Pay per action
        • Retainer services dropped over time
    23. Don’t jump into the tactics
      • Effective social strategy is not about putting up a facebook page, creating a twitter account and setting up a LinkedIn company profile
    24. Pricing for social strategy vs. tactics
      • Selling strategy:
        • Social media consulting
        • Social recommendations on messaging, methods
        • Active social monitoring
        • These services are usually ongoing rather than one-time
      • When you become an expert, you can sell consulting engagements
    25. One-time work.
      • Addictive if you aren’t careful
      • May cause resource constraints
      • Critical to price for profitability
      • Consider it “fat” and not “meat”
    26. Social Profile Design & Management
    27. Recurring work.
      • Balance total % carefully amongst clients
      • Don’t put recurring clients on “auto pilot”
      • Bring new opportunities once you have delivered results
      • Identify growth goals
      • Apply resources by tier of client (not all recurring clients are created equal)
    28. Recurring Services Include:
      • Social Monitoring
      • Brand Management
      • Ongoing ideas and recommendations
      • Ongoing Competitive Analysis
      • Off Site Optimization / Link Building
    29. Sentiment Management & Reporting.
    30. Protect yourself with assumptions.
      • Include specifics on:
        • What client must provide/deliver
        • Travel expenses
        • Billing methods
        • Rush fees
        • Cancellation fees or other penalties (if appropriate)
        • Delivery expectations
        • Ownership of IP
    31. Pricing.
      • Understand how clients perceive the services you are offering
        • Value-priced
        • Hourly-priced
        • Commodity-priced
      • Create a consistent method for determining pricing
      • Know the competitions’ pricing
    32. “ Value” priced services.
      • Specialty services, such as:
        • Usability, wireframes
        • Design
        • Strategy
      Creative talent and smart thinkers are priceless.
    33. Hourly priced.
      • Based on a set hourly rate
        • Search
        • Ad buying/planning
        • Development
      Complete the work in the time allotted and you win!
    34. Commodity priced.
      • Hosting
      • Email delivery
      Tough to differentiate you from the other alternatives.
    35. How to pitch social media engagements
    36. Know your audience.
    37. Fast, Actionable Items
      • Begin with examples, competitive data
      • Provide overview of high level strategy as well as proposed tactics
      • Low hanging fruit opportunity
      • Recommend to start with listening
        • Great 1 st step if client is “afraid”
    38. Pitching
      • Only invest the time if you are certain the buyer is ready to buy (and not just gathering more intelligence, etc.)
      • When you pitch, give it your all!
        • Designate a project manager
        • Back into timelines
        • Identify additional resources necessary to prepare the pitch and to present
        • Practice, practice, practice.
    39. Be creative.
      • Think outside the Box.
      • Think outside the PowerPoint.
      • Think about the fact you are pitching social – it should look “social”.
    40. Know your stuff.
      • Create proposals/pitches that are unique for each client
      • Paint the big picture, but be prepared to show social applications as tactical examples
      • Anticipate the questions they will ask and be prepared with an answer
    41. Q&A

    + agencysideagencyside, 2 months ago

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