A CMO’s Guide to Social MediaHow Social Media is Shaping Your Leadership OpportunityPresented to The CMO CLUBJune 22, 2009

Social Media is Changing MarketingSpeed of change is on HIGHAdvertising moving online and becoming less effectiveSocial Marketing is in the experimental phase 6/26/2009(c) 2009 Magus Consulting llc2

CMOs are Under Pressure6/26/2009(c) 2009 Magus Consulting llc3Let’s start a blog!Should we be on Facebook?Do we have to offer everything for free?Why aren’t we Tweeting?

Understanding What’s Really Going OnPower shifts are underwayThe tools and trends that make us vulnerable offer us opportunity to become stronger businessesYou shape your brand identity through your response to the social market6/26/2009(c) 2009 Magus Consulting llc4Social Media is much, much more than a new marketing channel

Trend #1: Power ShiftsThe “marketing voice” and megaphone style are not trusted6/26/2009(c) 2009 Magus Consulting llc5Individuals have unprecedented communications power

Trend #2: New OpportunitiesTools and trends of the power shift are available to companiesMore intimate customer relationship marketing is possibleStreamlined business models (e.g. Crowdsourcing, the Free Economy and Long Tail niche marketing)6/26/2009(c) 2009 Magus Consulting llc6

Trend #3: You shape your brand identity through your response to the social marketFakers are penalizedTransparency (and humility) are rewardedAuthenticity is identityBeyond ‘brand management’6/26/2009(c) 2009 Magus Consulting llc7

Social Leadership Strategies Develop meaningful customer relationships throughout the entire customer lifecycleManage the brand, brand experience and even brand co-creation Nurture the dynamic brand identity6/26/2009(c) 2009 Magus Consulting llc8Social marketing requires business leadership

CMO Strategy #1: Use social strategies to develop meaningful customer relationships throughout the entire customer lifecycleDevelop a “whole elephant” perspective on the customerDevelop “whole customer” strategies at every stage of the relationshipPut your company in true relationship with the customer6/26/2009(c) 2009 Magus Consulting llc9“The Blind Company and the Elephant” – a retellingcustomerCustomer Service says it’s a pillar (satisfaction score)Finance says it’s a hose (revenue source)Marketing says it’s an elephant

CMO Strategy #2: Use social strategies to manage the brand, brand experience and even brand co-creationYour brand is your customer’s experience with your company, which leads to how they talk about it to othersInvolve your customers and employees in the social experience of creating your success through product development, customer service, partner collaboration etc.6/26/2009(c) 2009 Magus Consulting llc10

CMO Strategy #3: Use social strategies to nurture dynamic brand identityTransparency is key to reputation managementAuthenticity is key to relationship managementBut they are not enough…..Values are key to dynamic brand identity6/26/2009(c) 2009 Magus Consulting llc11Your brand is now what you do, not what you say you do.

Get out there and lead!Thank you!Dana Theus, Principaldtheus@magusconsulting.com703-2369-50006/26/2009(c) 2009 Magus Consulting llc12Read the accompanying article with over 45 reference links on www.Member-to-Member.com (click on Social Media 101)