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Social Media Marketing Solution Study

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The Social Media environment is vast, complex and constantly changing. Hundreds of vendors and solutions compete for the marketer’s time and attention. It takes dedication, time and effort just to …

The Social Media environment is vast, complex and constantly changing. Hundreds of vendors and solutions compete for the marketer’s time and attention. It takes dedication, time and effort just to stay current with the changes, let alone evaluate and implement the best products/services for your organization.

The insights and analysis presented in this report are given to provide marketers with a solid understanding of the Social Media platforms, tools and Social Networks that enable Modern Marketing organizations to implement Social Media Marketing and Management as part of their broader Digital Marketing Strategy.

Our look at Social Media Marketing strategies, processes and implementations focuses on four, key platforms: Social Listening, Social Engagement, Social Experience and Social Analytics. Our analysis also includes detailed descriptions of the major Social Networks in play right now.

In brief, Social Media Marketing is doing marketing in a social context. This means using the resources of Social Media and the Internet/Web to offer products/services to prospective buyers, to build brand presence in the market and to use social connections to develop business relationships that enhance commerce.

At Demand Metric we define Social Media Marketing as the strategies, processes, tools and technologies that enable an Enterprise to do business in the marketplace with customers and partners via Social Networks and Channels.

This study covers the following sections:

- Executive Summary
- What is Social Media Marketing?
- Benefits of Social Media Marketing
- Social Media Marketing Deployment Lifecycle
- Vendor Selection Criteria
- Social Media Marketing Solutions Landscape
- Social Media Marketing Maturity Model
- Action Plan
- Analyst Bottom Line
- About the Research Analysts
- Our Solution Study Methodology
- About Demand Metric

To obtain this document, visit us at http://www.demandmetric.com/register


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  • 1. Social Media Marketing: Insights, Landscape & Vendor Analysis © 2014 Demand Metric Research Corporation. All Rights Reserved. Solution Study By: Clare Price, VP Research With: Kristen Maida, Senior Research Analyst June 2014
  • 2. 3 4 7 9 10 15 Executive Summary What is Social Media Marketing? Benefits of Social Media Marketing Social Media Deployment Lifecycle Vendor Selection Criteria Social Media Solutions Landscape 29 30 31 Analyst Bottom Line About the Research Analysts Our Solution Study Methodology 25 27 Social Business Maturity Model Action Plan Table of Contents 32 About Demand Metric
  • 3. EXECUTIVE SUMMARY © 2014 Demand Metric Research Corporation. All Rights Reserved. It has been said that “All Marketing is Digital Marketing,” and with good reason! In the last decade, marketing has been transformed. Marketing has moved from an environment in which traditional marketing, brick and mortar storefronts and Digital Marketing options all competed for the time, attention and resources of the marketing department to one in which Digital Marketing reigns supreme (with an occasional nod in the direction of the storefront or traditional marketing channels, such as direct mail and print advertising). In our Digital Marketing Solution Study Series, we examine ten digital marketing components and offer independent reports for six of these. In this report, we will focus on the growing practice area of Social Media Marketing and cover the following sections:  A Definition of Social Media Marketing  The Benefits of Social Media Marketing  The Social Media Marketing Solutions Landscape  Social Business Deployment Cycle  Social Media Marketing Maturity Model  Vendor Selection Criteria  Action Plan & Toolkit Social Media Marketing: Insights, Landscape & Vendor Analysis 3
  • 4. The Social Media environment is vast, complex and constantly changing. Hundreds of vendors and solutions compete for the marketer’s time and attention. It takes dedication, time and effort just to stay current with the changes, let alone evaluate and implement the best products/services for your organization. The insights and analysis presented in this report are given to provide marketers with a solid understanding of the Social Media platforms, tools and Social Networks that enable Modern Marketing organizations to implement Social Media Marketing and Management as part of their broader Digital Marketing Strategy. Our look at Social Media Marketing strategies, processes and implementations focuses on four, key platforms: Social Listening, Social Engagement, Social Experience and Social Analytics. Our analysis also includes detailed descriptions of the major Social Networks in play right now. WHAT IS SOCIAL MEDIA MARKETING? Social Media Marketing: Insights, Landscape & Vendor Analysis © 2014 Demand Metric Research Corporation. All Rights Reserved. 4 In brief, Social Media Marketing is doing marketing in a social context. This means using the resources of Social Media and the Internet/Web to offer products/services to prospective buyers, to build brand presence in the market and to use social connections to develop business relationships that enhance commerce. At Demand Metric we define Social Media Marketing as the strategies, processes, tools and technologies that enable an Enterprise to do business in the marketplace with customers and partners via Social Networks and Channels. Role in Digital Marketing Demand Metric considers Social Media Marketing to be an integral part of Digital Marketing as illustrated by our Digital Marketing Framework (Figure 1). Driven by the Community and Social Media Manager, Social Media processes and technologies are used by Strategic Comm, Content Marketing, Community, Social Media and Customer Experience. The common metrics for Social Media include user engagement, sentiment analysis and campaign ROI.
  • 5. TECHNOLOGY Senior Management ROLES RESPONSIBILITIES PROCESSES TECHNOLOGY CONTENT METRICS Revenue Accountability Staffing & Channel Management Reporting to CEO/Board Budgeting & Planning Reviews & Coaching Recruitment & Retention WCM Marketing Automation CRM Thought Leadership Blog Webinar Presentations Conference Keynotes Revenue by Channel Customer Lifetime Value, NPS Return on Customer (ROC) Strategic Communications Brand Strategy Digital Marketing Strategy Social/Mobile Marketing Strategy Marketing Budgeting Agency Management Communications Management WCM Content Marketing Platforms Social Media Platforms Data Sheets, Whitepapers Case Studies/Testimonials Competitive Analysis Market Share, Profitability Brand Equity Content Usage Demand Generation Lead Generation & Events Inbound/Outbound Marketing Sales Opportunity Management Advertising/Sponsorship Lead Generation Tradeshows Marketing Automation/Email Digital Asset Management Event/Survey Management Advertising/SEO Email Campaigns Webinars Campaign ROI, Email Metrics Marketing Qualified Leads Contribution to Pipeline Content Marketing Web Content Management Content Marketing Content Distribution Content Creation Campaign Analysis Content Scoring Website and Blogs eBooks, Articles Videos Content Views, Links Earned Content Conversion Content Published WCM, Blogging Platforms, MA Content Marketing & Distribution Video Marketing Platforms Community & Social Media Online Community Management Social Listening Social Engagement Community Development Social Channel Management Social Reputation Management WCM Social Media Platforms Social Channels & Networks Posts, Tweets, Photos Forums, Chats, Comments Articles, Community News User Engagement Sentiment Analysis Campaign ROI Public Relations External Communications Media Relations Analyst Relations Influencer Identification Relationship Cultivation Content Creation/Distribution Media Contact Database News Distribution & Monitoring Analytics & Reporting News Content/Press Releases Thought Leadership Content Rich & Social Media Content Mentions/Impressions Audience Growth & Engagement Sentiment Analysis Product Marketing New Product Development Mobile App Development Video Production/Development Product Launch Product Positioning Competitive Analysis New Features/Ideas for R&D Gamification Competitive Analysis Avg. Revenue Per User Avg. Order Value Conversion Rate, Renewal Rate WCM Mobile Development Platforms Video Production Platforms Customer Experience Interactive Experience Customer Satisfaction Customer Advocacy Customer Experience Customer Journey Mapping Customer Persona Creation Buyer Personas Customer Journey Map Proposals, Presentations Customer Satisfaction Index Customer Lifetime Value Net Promoter Score (NPS) Customer Profile Management Customer Support, Twitter Survey & Social Channels Figure 1: Digital Marketing Framework Social Media Marketing: Insights, Landscape & Vendor Analysis
  • 6. To better define Social Media Marketing, we need to look at its core components – Social Media, Internet/Web and the Social Enterprise. Demand Metric defines these components as follows:  Social Media is defined as the online exchange of content within a community, focusing on activity, marketplaces, collaboration and sharing.  The Internet/Web is the electronic infrastructure, environment and connections that create the functionality for digital commerce.  A Social Enterprise is a company or organization that has aligned its organizational strategies, processes, roles and responsibilities to maximize its investment in social media tools and technologies. Download our Social Media Maturity Assessment to evaluate your organization’s social media initiatives and technologies. Social Media Marketing: Insights, Landscape & Vendor Analysis © 2014 Demand Metric Research Corporation. All Rights Reserved. Download Figure 2: Social Media Maturity Assessment 6
  • 7. The benefits of Social Media Marketing are so numerous and varied that it would be impossible to list them all. Here we present the top twenty benefits that Demand Metric believes are critical for Social Enterprise initiatives and for use by a world class Modern Marketing Organization: 1. Increases Customer Interaction – Your customers are in social. Whether to praise or complain, research or evaluate, prospects often turn first to social channels. 2. Improves Revenue Targets – Social drives many purchasing decisions. The information that prospects receive from their social networks is often weighed more heavily than information received by other channels. 3. Offers Up-to-date Customer Knowledge – Know your customers better by listening, monitoring and responding. Customers talking in social are providing the most valuable information because it is usually the most authentic and current. 4. Provides the Highest Level of Personalized Offers – By creating individual social profiles based on tracking behavior, activity and attitudes, social media enables organizations to personalize advertisements and messaging to customer interests and specialties. 5. Creates Better Customer Experiences and Journeys – Social Media offers advanced, online experiences by understanding how your customers want to interact with your company. 6. Enables Better Customer Service – Social Media allows you to handle problem/complaints quickly and personally. 7. Facilitates Product/Service Feedback – Gain product knowledge for future products and services by learning what customers are asking for the most. 8. Supports Influencer Marketing – Learn who has the clout in various social communities and develop deeper relationships with them to influence their tribes. BENEFITS OF SOCIAL MEDIA MARKETING © 2014 Demand Metric Research Corporation. All Rights Reserved. 7 Social Media Marketing: Insights, Landscape & Vendor Analysis
  • 8. 15. Provides an Instantaneous Competitive Analysis – Have a faster, better read on what your competitors are doing and respond faster to competitive pressures. 16. Enables Better Distributor/Dealer Channel Management – Use social media to deepen channel relationships and make your dealers more profitable. 17. Increases Brand Awareness and Reach – Create more brand followers and fans who want to connect with your brand. 18. Empowers Customer Advocacy – Learn who your best brand advocates are and how to empower them to expand your brand into their networks. 19. Accelerates Crisis Management – Quickly discover and address real or potential product or company problems and challenges. 20. Strengthens Reputation Management – Know who’s talking about you in social networks and what they are saying so you can respond to protect and enhance your reputation. 9. Creates Online Communities – Make your company’s website a destination not a browsing ground. 10. Proves ROI with Analytics – Use social analytics to connect marketing campaigns/content to targeted revenue and sales goals. 11. Aligns Organizational Use of Social Channels and Networks – Use enterprise social experience platforms to provide an integrated view of your customers’ social activity and your response. Gain new insights for campaign and product development. 12. Improves Content Marketing Efforts – Create more targeted and personalized content for prospects and customers to deepen engagement. 13. Impacts the Sales Cycle – Use social media platforms to drive better, more closable opportunities to sales. 14. Encourages Higher Marketing Productivity – Social media makes the marketing department more effective and efficient. © 2014 Demand Metric Research Corporation. All Rights Reserved. 8 Social Media Marketing: Insights, Landscape & Vendor Analysis
  • 9. ABOUT THE RESEARCH ANALYSTS © 2014 Demand Metric Research Corporation. All Rights Reserved. 30 Clare Price, VP Research– Demand Metric Clare is an expert in marketing strategy, branding, strategic communications, sales enablement, social media marketing, content marketing and leveraging marketing technologies. Clare is a former Gartner Research Director and helped build their Internet Strategies Services division with clients such as Microsoft, IBM, HP, Cisco, Proctor & Gamble and Wells Fargo. Her specialties include: brand strategy, brand development, customer acquisition and relationship development, content and digital marketing strategy, sales enablement and social media marketing. Kristen Maida, Senior Research Analyst – Demand Metric Kristen has worked with Demand Metric for the past 4 years, learning about and gaining experience in all aspects of the organization. She has developed job functions in almost every department to help with Demand Metric’s rapid growth. Her specialties include: social media marketing, digital marketing, content marketing & management and business process development. Social Media Marketing: Insights, Landscape & Vendor Analysis
  • 10. OUR SOLUTION STUDY METHODOLOGY © 2014 Demand Metric Research Corporation. All Rights Reserved. 31 The Modern Marketing landscape is an ever changing, ever evolving environment in which new strategies, technologies, vendors and products appear continually. Demand Metric Solution Studies provide marketers with a focus on a specific technology solution set or focus area so that they are armed with the knowledge, information and tools they need to development effective strategies and action plans for their organizations. Each Solution Study involves hours of analyst research, draws information from interviews with vendor executives and established vendor clients for a specific technology solution and is usually accompanied by a mini Tool-kit of practical resources. Solution Study Tool-kits are designed to provide marketers with the tools & templates they need to plan for an initiative in a given focus area, analyze the vendor landscape and select the best vendor for their organization. Our Digital Marketing series includes Solution Studies on:  Social Media Marketing  Mobile Marketing  Content Marketing We provide a comprehensive overview of Digital Marketing in the companion report – Digital Marketing Best Practices Report.  Video Marketing  Public Relations Social Media Marketing: Insights, Landscape & Vendor Analysis
  • 11. © 2014 Demand Metric Research Corporation. All Rights Reserved. Solution Study ABOUT DEMAND METRIC Demand Metric is a global marketing research & advisory firm serving a membership community of over 40,000 marketing professionals, CEOs, and business owners with advisory services, custom research & benchmarking reports, vendor studies, consulting methodologies, training, and a library of 500+ tools and templates. Using Demand Metric resources, members complete projects faster and with greater confidence, boosting respect for the marketing team and making it easier to justify needed resources. Our 1,000+ clients range from start-ups to members of the Global 1000. TO LEARN MORE ABOUT DEMAND METRIC To read the rest of this report, become a Demand Metric member today!

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