Creating A Social Media Strategy Charlene Li Co-author of “Groundswell” Thought Leader, Altimeter Group

Is this what social media is about? Source: Wordle.net

What kind of relationship do you want? Transactional Occasional Impersonal Short-term Passionate Constant Intimate Loyal Focus on relationships, not technologies

Agenda How do you create a social strategy? What are some best practices and pitfalls? What does the future hold?

How do you create a social strategy?

What are some best practices and pitfalls?

What does the future hold?

Process and goals lead to strategy

Engagement Pyramid Base: Global active Internet users (uses the Internet every day/every other day Note: Percent of active Internet users that do this at least weekly Source: Universal McCann Social Media Tracker Wave 3, March 2008 Edit a wiki Moderate a forum Write in a blog – 21% Upload a video – 18% Rate a product or service Comment on a blog post Write in a discussion forum Share online video – 37% Update profile – 35% Upload photos – 23% Watch online video – 59% Read blogs – 48% Download podcasts – 23%

Edit a wiki

Moderate a forum

Write in a blog – 21%

Upload a video – 18%

Rate a product or service

Comment on a blog post

Write in a discussion forum

Share online video – 37%

Update profile – 35%

Upload photos – 23%

Watch online video – 59%

Read blogs – 48%

Download podcasts – 23%

How Oracle encouraged feedback

Let’s talk about taxes

Dialog with Frank Eliason, Comcast

Skittles has conversations on Facebook

Helping users support themselves

Starbucks innovates with the groundswell

Agenda How do you create a social strategy? What are some best practices and pitfalls? What does the future hold?

How do you create a social strategy?

What are some best practices and pitfalls?

What does the future hold?

Getting started Set your goal Listen first Start small Recover

Measuring Social Media Your goals determine your metrics Use the same metrics as your marketing goals

Um, what metrics were those?

Example “micro” metrics

Higher order metrics to consider How likely are you to recommend this to someone you know? Net Promoter Score Cost of acquisition Cost of retention Lifetime revenue Referral value Lifetime Value

How to find good help See a list at wiki.altimetergroup.com

How to find good help Focuses on relationships, not campaigns. Uses social media successfully themselves. Commits resources to learning and training. Has learned from their mistakes. Respects and is humbled by the medium.

Focuses on relationships, not campaigns.

Uses social media successfully themselves.

Commits resources to learning and training.

Has learned from their mistakes.

Respects and is humbled by the medium.

Agenda How do you create a social strategy? What are some best practices and pitfalls? What does the future hold?

How do you create a social strategy?

What are some best practices and pitfalls?

What does the future hold?

Social networks will be like air

Your friends will be where ever you need them Friends Reviews

Three components plus one concept Universal identify Open social graph Portable applications And a business model – the personal CPM

Universal identify

Open social graph

Portable applications

And a business model – the personal CPM

Everyone is a marketer

Org charts become less relevant

BlueShirtNation.com supports Best Buy’s front line employees

Meet Up blew up their org chart

Firewalls disappear

Customers move into the company

Photo: Kantor, http://www.flickr.com/photos/kantor

An essential tool to have

Summary Determine the kind of relationship you want to have with your audience. Start with one simple goal. Plan for a transformation of your organization.

Determine the kind of relationship you want to have with your audience.

Start with one simple goal.

Plan for a transformation of your organization.

May the groundswell always be with you. Charlene Li Altimeter Group [email_address] blog.altimetergroup.com Copyright © 2008 Altimeter Group