Executive Strategy: Social Media Marketing
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Executive Strategy: Social Media Marketing

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    Executive Strategy: Social Media Marketing Executive Strategy: Social Media Marketing Presentation Transcript

    • Executive Strategy: Social Media Marketing Andrew Krebs-Smith Vice President, Founder Social Fulcrum Saturday, December 18, 2010
    • Scott Pilgrim T-Shirts • 12,000 Facebook Fans • 2,000 Twitter Followers • People begging for product before it was even manufactured • Budget: $500 + Time Saturday, December 18, 2010
    • Warman Homecare • 3 Facebook Fans • Budget: $3,000/month Saturday, December 18, 2010
    • The Difference • Research • Strategy • Adjustments Saturday, December 18, 2010
    • Goals for today • Quick Social Media/WOM 101 • Review Materials • Emphasize measurement • Show innovative/strategic uses of social media • Show process and metrics Saturday, December 18, 2010
    • Short Personal Chronology • Facebook launched the year I was a Freshman in College • Graduated from Loyola in 2007 • Advertising, Public Relations, Marketing • First job in Word of Mouth Marketing at advertising agency • Laid off - started consulting • Director of Word of Mouth Marketing • In 18 months: Grew dept from one person experiment to 15% of agency revenue, 1/3 of agency personnel, 25% of agency profits • Recently started my own marketing company in New York Saturday, December 18, 2010
    • Wide range of experience • Pfizer • Bozzuto Group • Robroy & Co • Texas Instruments • Mariner Bay • NSI Partners • Ocean City • Roseda Beef • Rosenthal Partners • Slacker Hero • Patrice and Associates • Alexander + Tom • Robert Andrew Salon • Carol for a Cause • MGH • Strayer University • Baltimore Convention • The Cyphers Agency • National Chicken and Visitors • American Chemistry Council Association Council • Chesapeake Bay Trust • Designer Chatter • American Nurses • Bayer • Sugarloaf Mountain Credentialing Center Vineyard • Meritain • American Nurses • CMD Outsourcing • Prometric Association • Warman • Prometrics • Forge Academy of • Zoysia Farm • 7 Oil Co. Strength Training Nurseries • Television News • Frederick Ward and Center Associates • Severn Savings Bank Saturday, December 18, 2010
    • WOM concepts • Credible • Consumer vs. Company • Interactive • Glazed eyeballs vs. targeted interactive • Exponential • It’s cheaper to have 1,000 people tell 10 people than to reach 10,000 people Saturday, December 18, 2010
    • Old Spice • 40 Million views within 4 days of YouTube campaign Saturday, December 18, 2010
    • United Breaks Guitars Saturday, December 18, 2010
    • More than just Facebook and Twitter • Social Networks (FB, Twitter, • Sometimes not accessible by Linkedin) search engines • Huge audiences, lots of • Q&A Sites (Yahoo Questions) opportunities • Review Sites (Yelp, Tripadvisor, • Public medium, well-optimized RateMyProfessor) • Social Bookmarking (stumbleupon, del.icio.us) • Where negative sentiment lives • SEO • Online Forums (NASIOC, • Social Voting (digg, Reddit) CityData) • Traffic drivers • Niche communities • Influencers • Insight into consumer • Media Networks (YouTube, Flickr) perceptions, habits, motivations • Awareness, visibility, SEO Saturday, December 18, 2010
    • More than just promotion • Advertising • Search Engine Optimization • Being more visible • Negative sentiment • Public Relations • Crisis hedging/management • Market Research • Customer Service • Comcast, Strayer University • Sales, Lead Generation • Self-identified prospects • High conversion rates • “Pull” strategy to get in front of decision makers Saturday, December 18, 2010
    • Social Media ROI • What were your impressions? • What was illuminating? • What did you disagree with? Saturday, December 18, 2010
    • One Critique • Only focuses on one strategy • Produce content, build audience Saturday, December 18, 2010
    • Main Points • Think more broadly about “costs” and/or “return” • ROI can only be used in certain instances • Results can always be measured Saturday, December 18, 2010
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    • Main Points • Internet Ad spend out of line with time spent • Under-monetized Facebook Advertising Saturday, December 18, 2010
    • Different B2B Uses • Sales Outreach • Business intelligence “ammo” for sales team • Credibility and positioning for thought leadership • Training more employees to spread company message and thus increase awareness • Service offering in certain cases (consulting, marketing, training services, etc.) Saturday, December 18, 2010
    • Different B2B Uses • Sales Outreach • Business intelligence “ammo” for sales team • Credibility and positioning for thought leadership • Training more employees to spread company message and thus increase awareness • Service offering in certain cases (consulting, marketing, training services, etc.) Saturday, December 18, 2010
    • B2B “Wellness” Case CHALLENGE: • Wellness company offering $100M-$500M companies programs to decrease health insurance costs • Needed to reach C-Level executives Saturday, December 18, 2010
    • B2B “Wellness” Case IMPLEMENTATION: • Built LinkedIn profile • Used list of 50 prospects to build our network • Connected with anyone that would get us closer to the 50 prospects • Sent message to all 50 prospects • Messaging was custom to each prospect RESULTS: • 80% delivery rate • 25% looked at white paper • 3 Leads (meetings) Saturday, December 18, 2010
    • Different B2B Uses • Sales Outreach • Business intelligence “ammo” for sales team • Credibility and positioning for thought leadership • Training more employees to spread company message and thus increase awareness • Service offering in certain cases (consulting, marketing, training services, etc.) Saturday, December 18, 2010
    • B2B Measurement • Company that outsources customer service for higher education (financial aid dept, registration, etc.) • Initially hired me to research list of 50 prospects so we could write about the issues they were discussing via social media • Not research-based strategy Saturday, December 18, 2010
    • B2B Measurement • I looked into customer sentiment at target list of prospect schools • Found “ammo” for their sales team - negative comments about financial aid departments, registration depts, etc. • Instead of “Hi, I think our services might be useful,” they now say “We know you have a problem.You’ve had 7 negative comments about your registration dept this month. Let us help solve the problem and save you money in the process.” Saturday, December 18, 2010
    • Usual Drivers • Specific Problem • Negative reviews • Specific Objective • Increased sales • Positioning • Our competition is doing it • “shiny object” • Everyone says this is important • Curious re: New Opportunities Saturday, December 18, 2010
    • Stages of social media awareness • Another flash in the pan • Maybe for them, not for us • Our competition is doing something, why aren’t we? • Let’s build a Facebook/ Twitter Page Saturday, December 18, 2010
    • But Ideally... • Don’t jump into things • Let’s figure this out ourselves • What is the situation? Research. • Create a plan. Create a team. Create goals. • Adjust, measure, repeat. Saturday, December 18, 2010
    • Measurement • Every campaign should start with measurement of some kind, whether anecdotal or quantitative. • Many tools available for $1,000 / month • Don’t take results at face value. Dig, filter, be critical.You will emerge with a holistic view of the situation. Saturday, December 18, 2010
    • Power of LinkedIn Saturday, December 18, 2010
    • Robert Andrew Salon and Spa • Situation: Negative reviews, first page Google results • Solution: Positive Reviews via ambassador program • ROI untrackable, but undeniably effective • How much would you pay to correct a similar issue? Saturday, December 18, 2010
    • NCC Situation • NCC Marketing Budget decreased to $50,000 over the last 10 years • Less members, less dues • Food pages dissapearing Saturday, December 18, 2010
    • National Chicken Council • Goals • Build relationships directly with consumers • Public relations to promote chicken • Crisis communications planning • Objectives • Garner 1,000,000 recipe impressions • Create relationships with 5 prominent food/chicken bloggers • Create active Facebook community of 10,000+ members • Increase website traffic Saturday, December 18, 2010
    • Strategy • Gather audience of evangelists • Leverage recipe value combined with individual response value • Find online influencers, build relationships • Offer value, leverage as needed Saturday, December 18, 2010
    • Implementation • Simple, effective, long-term Facebook Fan Page ad • Respond to large volume of people tweeting about: • Recipes for dinner/lunch • Other ways to cook chicken • Create relationships with food bloggers • We offered to promote their blog on Facebook page • Send bloggers “chicken gear” Saturday, December 18, 2010
    • Other... • Chicken Video Contest • Promoted by entrants Saturday, December 18, 2010
    • Results (12 months) • 30,000+ Facebook fans • 500+ recipes distributed directly to people asking for recipes • 20+ Blogger relationships Saturday, December 18, 2010
    • The Shrimp Industry Wished it had a Facebook page with 30,000 fans Saturday, December 18, 2010
    • How we did it • Strategic, planned usage • Facebook - gather audience • Twitter - build relationships • Bloggers - build relationships • Contest - exponential awareness • Adjustments based on data • What data? Saturday, December 18, 2010
    • Metrics • Depend on each campaign Saturday, December 18, 2010
    • Report Template • Level 1 - Impressions • Level 2 - Audience • Level 3 - Interaction • Level 4 - Site Traffic • Level 5 - Sales (or lead conversion) Saturday, December 18, 2010
    • Examples Saturday, December 18, 2010
    • If you are going to use Social Media... • Research is a valuable investment • Set Goals, Objectives, Strategy • Measure Saturday, December 18, 2010
    • Here’s what I do when someone says “I want social media” or “I have a specific problem” • Find out what’s being said • About Industry • By Competitors • By Customers • By Audiences • By Employees/Company • What are possible assets? • Where are target audiences? • What is the budget? • What are the goals and objectives? How can we measure them? • Are there influencers? • Act like a consumer. Perform a google search Saturday, December 18, 2010
    • What should you look for? • Influencers • Bloggers • Twitter users • Communities • Online Forums • Industry-specific communities • Demographic-specific communities • Interest-based communities • Targeting • Facebook Ads • Meetup • Consumer Experience • What comes up in a search? • Reviews? • Directories, local lists • Search engine optimization Saturday, December 18, 2010
    • Then I look at specific locations Facebook LinkedIn Twitter Flickr Meetup YouTube Blogs SlideShare Forums Review Sites Ning Event Sites Q&A Sites Examiner Saturday, December 18, 2010
    • And I use that to develop an “Online SWOT” • Strengths • Innovative use (e.g. Comcast) • Social-savvy target audience • Weaknesses • Strict regulations (e.g. pharma, banking) • Opportunities • Lots of positive discussions regarding product/brand/industry • Easily reachable communities • Threats • Political implications • Negative sentiment • Bad customer experiences Saturday, December 18, 2010
    • Why SM might make sense for your company • Big marketing pieces already in place • Available resources (time, people, money, partnerships) Saturday, December 18, 2010
    • My two cents • There are opportunities in social media for every company • There are opportunities in word of mouth marketing without using social media • Just because there are opportunities doesn’t mean you should spend money there • Social Media can be used for more than just promotion, and more than just marketing (but it’s usually marketing in some form because it’s all public) Saturday, December 18, 2010
    • Two more cents • Building “social” real estate (or communities) takes time • Return is not immediate, nor linear • Implementation/management usually works best internally for larger companies • Usually the cost of measuring ROI dissuades companies from measuring it • Spend money at the beginning to determine (1) if there are opportunities and (2) if so what is the situation/ strategy? Alot of companies want ROI from the outset, and don’t want to pay to “figure things out”. Saturday, December 18, 2010
    • Main tenets of social media strategy • Find your audience • Align strategy with your brand • Create objectives • Measure results • Adjust based on metrics Saturday, December 18, 2010
    • For more information • Read December Harvard Business Review • Read Mashable (blog) • WOMMA.org • andrew@socialfulcrum.com Saturday, December 18, 2010
    • Questions? Saturday, December 18, 2010
    • The End Thanks! Andrew@SocialFulcrum.com Saturday, December 18, 2010