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The Value of Online Relationships: How to grow, measure, and leverage your institutional social networks. In this session we will focus on what your online relationships really mean and outline......

The Value of Online Relationships: How to grow, measure, and leverage your institutional social networks. In this session we will focus on what your online relationships really mean and outline strategies for how you can cultivate a vibrant stakeholder group that strengthens the value of your institution and your brand. Using both cutting edge industry data and case studies, we will go beyond your Facebook, Twitter, Linkedin, and YouTube pages to help you understand how to harness immediate value from these networks and translate it into measurable outcomes and a competitive advantage.

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  • 1. The Value of Online Relationships Really, another status update? How’s that valuable to me?Grant SabatierVice President Digital StrategyAACSB Building B-School SymposiumMarch 6, 2012 EDUVANTIS
  • 2. Grant Sabatier Vice President Digital Strategy at Eduvantis Eduvantis is the market leading competitive strategy firm for business schools and higher education. We have worked with a wide variety of higher education institutions across the world to help them solve their most pressing challenges. grant@eduvantis.com EDUVANTIS 2
  • 3. What We Are Going To Cover EDUVANTIS 3
  • 4. What We Are Going To Cover• How online relationships can make your institution more competitive EDUVANTIS 3
  • 5. What We Are Going To Cover• How online relationships can make your institution more competitive• The unique challenges of building and managing online relationships at business schools EDUVANTIS 3
  • 6. What We Are Going To Cover• How online relationships can make your institution more competitive• The unique challenges of building and managing online relationships at business schools• The 4 elements of a successful online relationship EDUVANTIS 3
  • 7. What We Are Going To Cover• How online relationships can make your institution more competitive• The unique challenges of building and managing online relationships at business schools• The 4 elements of a successful online relationship• The 5 things you can do to leverage your online relationships and strengthen your brand EDUVANTIS 3
  • 8. The Role of Competitive StrategyOnline Relationships Stronger online relationships create better online experiences. As more stakeholders experience your brand online— better online experiences create a competitive advantage. EDUVANTIS 4
  • 9. Eduvantis 5 Dimensions of Competition Online relationships need to strengthen and communicate the unique dimensions of your:© Eduvantis “Five Dimension of Competition” EDUVANTIS 5
  • 10. Eduvantis 5 Dimensions of Competition Online relationships need to strengthen and communicate the unique dimensions of your: 1. Product KEY PRODUCT RELEVANCE QUALITY UNIQUENESS© Eduvantis “Five Dimension of Competition” EDUVANTIS 5
  • 11. Eduvantis 5 Dimensions of Competition Online relationships need to strengthen and communicate the unique dimensions of your: 1. 2. Product Experience KEY PRODUCT DELIVERY RELEVANCE STRUCTURE QUALITY STUDENT UNIQUENESS EXPERIENCE© Eduvantis “Five Dimension of Competition” EDUVANTIS 5
  • 12. Eduvantis 5 Dimensions of Competition Online relationships need to strengthen and communicate the unique dimensions of your: 1. 2. 3. Product Experience Outcomes KEY PRODUCT DELIVERY QUALITY OF RELEVANCE STRUCTURE RECRUITING QUALITY STUDENT GRADUATE UNIQUENESS EXPERIENCE OUTCOMES© Eduvantis “Five Dimension of Competition” EDUVANTIS 5
  • 13. Eduvantis 5 Dimensions of Competition Online relationships need to strengthen and communicate the unique dimensions of your: 1. 2. 3. 4. Product Experience Outcomes Impact KEY PRODUCT DELIVERY QUALITY OF ALUMNI RELEVANCE STRUCTURE RECRUITING ENGAGEMENT QUALITY STUDENT GRADUATE LIFELONG UNIQUENESS EXPERIENCE OUTCOMES LEARNING© Eduvantis “Five Dimension of Competition” EDUVANTIS 5
  • 14. Eduvantis 5 Dimensions of Competition Online relationships need to strengthen and communicate the unique dimensions of your: 1. 2. 3. 4. 5. Product Experience Outcomes Impact Perception KEY PRODUCT DELIVERY QUALITY OF ALUMNI RELEVANCE EXTERNAL STRUCTURE RECRUITING ENGAGEMENT PERCEPTION QUALITY STUDENT GRADUATE LIFELONG VALIDATION UNIQUENESS EXPERIENCE OUTCOMES LEARNING© Eduvantis “Five Dimension of Competition” EDUVANTIS 5
  • 15. What’s Happening Today? EDUVANTIS 6
  • 16. Social Media FatigueAccording to a recent Gartner survey: EDUVANTIS 7
  • 17. Social Media FatigueAccording to a recent Gartner survey: of Aspirers (younger, more mobile, brand 31 % conscious consumers) indicated that they were bored with their social networks. EDUVANTIS 7
  • 18. Social Media FatigueAccording to a recent Gartner survey: of Aspirers (younger, more mobile, brand 31 % conscious consumers) indicated that they were bored with their social networks. indicated that they were using their main social24 % media site “a little less” or “a lot less” than when they first started using it. EDUVANTIS 7
  • 19. Social Media Fatigue EDUVANTIS 8
  • 20. Social Media Fatigue EDUVANTIS 8
  • 21. Social Media FatigueUsers are feeling “tooconnected” and havestarted ignoring feedmessages, updates, andare now fine-tuning theirrelationships. Socialmedia is becoming lessand less about thenumber of connections,friends, or “Like”s...and more about “Value” EDUVANTIS 8
  • 22. The 4 Elements of aSuccessful OnlineRelationship EDUVANTIS 9
  • 23. EDUVANTIS 10
  • 24. 1. Value EDUVANTIS 10
  • 25. 1. Value2. Trust EDUVANTIS 10
  • 26. 1. Value2. Trust3.Engagement EDUVANTIS 10
  • 27. 1. Value2. Trust3.Engagement4.Enchantment EDUVANTIS 10
  • 28. 1. Value EDUVANTIS 11
  • 29. 1. ValueThe Business School Challenge EDUVANTIS 11
  • 30. 1. ValueThe Business School ChallengeWhat unique value can you provide for yourstakeholder groups and how can they provide valuefor you? All of these groups are expecting somethingdifferent from you. EDUVANTIS 11
  • 31. 1. ValueThe Business School ChallengeWhat unique value can you provide for yourstakeholder groups and how can they provide valuefor you? All of these groups are expecting somethingdifferent from you.• Students • Staff• Alumni • Prospective Students• Faculty • The Global Business Community EDUVANTIS 11
  • 32. How To Provide ValueVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 12
  • 33. How To Provide ValueInformationProvide content that your stakeholder groups care aboutand let them know the reason you are sharing it. Passingalong an article about your institution in the news is notenough. Explain why and how it is valuable to them.Encourage your key stakeholders to do the same.VALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 12
  • 34. How To Provide ValueVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 13
  • 35. How To Provide ValueInsightsOffer an opinion or insight that could only come from aninstitution like yours. Be distinct in your commentary andsupport the unique views of your institutional culture.Encourage your key stakeholders to do the same.VALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 13
  • 36. How To Provide ValueVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 14
  • 37. How To Provide ValueAssistanceGive your stakeholders advice or assistance that couldonly come from your institution. Help, support, andstrengthen your stakeholder groups and they will engagemore. Encourage your key stakeholders to do the same.VALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 14
  • 38. 1. ValueVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 15
  • 39. 1. ValueVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 16
  • 40. 2. Trust graphic courtesy of briansolis.comVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 17
  • 41. 2. Trust graphic courtesy of briansolis.comVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 17
  • 42. 3. EngagementVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 18
  • 43. 3. EngagementTiming is everything and a majority of yourstakeholders are always connected throughtheir computers, tablets, and mobile devices.VALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 18
  • 44. 3. EngagementTiming is everything and a majority of yourstakeholders are always connected throughtheir computers, tablets, and mobile devices.• Respond promptlyVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 18
  • 45. 3. EngagementTiming is everything and a majority of yourstakeholders are always connected throughtheir computers, tablets, and mobile devices.• Respond promptly• Engage oftenVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 18
  • 46. 3. EngagementTiming is everything and a majority of yourstakeholders are always connected throughtheir computers, tablets, and mobile devices.• Respond promptly• Engage often• Tell your storyVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 18
  • 47. 3. EngagementTiming is everything and a majority of yourstakeholders are always connected throughtheir computers, tablets, and mobile devices.• Respond promptly• Engage often• Tell your story• Connect in unique and targeted ways with different stakeholder groupsVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 18
  • 48. 3. EngagementVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 19
  • 49. 4. EnchantmentVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 20
  • 50. 4. Enchantmentn.1. the act of enchanting or the state of being enchanted2. a great charm, fascination, attraction, or delight3. a magic spell or to subject a magical influenceVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 20
  • 51. Online Relationship Best Practices:Top Business School Deanson Social MediaVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 21
  • 52. Online Relationship Best Practices:Top Business School Deanson Social MediaVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 21
  • 53. Online Relationship Best Practices:Top Business School Deanson Social MediaVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 21
  • 54. Online Relationship Best Practices:Top Business School Deanson Social MediaVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 21
  • 55. Online Relationship Best Practices:Top Business School Deanson Social MediaVALUE TRUST ENGAGEMENT ENCHANTMENT EDUVANTIS 21
  • 56. The 5 Things You Can DoTo Leverage Your OnlineRelationships AndStrengthen Your Brand EDUVANTIS 22
  • 57. 1. Gather, Measure, and Analyze Your Data EDUVANTIS 23
  • 58. 1. Gather, Measure, and Analyze Your DataUse a mix of established metrics and your own metricsbased on your goals to measure “Value”Develop an equation and use it for each stakeholdergroup.Track and measure your data week to week and month tomonth across all stakeholder groups. Compare metricsside by side. EDUVANTIS 23
  • 59. 1. Gather, Measure, and Analyze Your Data EDUVANTIS 24
  • 60. 1. Gather, Measure, and Analyze Your DataSimple “Value” EquationGoal: increase engagement, mentions, and sharesnumber of post responses and questions+ number of mentions+ number of shares+ new followers- total number of your institution’s original posts (notresponses)= “Value” EDUVANTIS 24
  • 61. 2. Identify Brand Ambassadors© Eduvanits “Five Dimension of Competition” EDUVANTIS 25
  • 62. 2. Identify Brand Ambassadors Empower key members of each of your stakeholder groups to be your brand ambassadors. This will extend the conversation, create more brand touch points, and add more voices/substance.© Eduvanits “Five Dimension of Competition” EDUVANTIS 25
  • 63. 2. Identify Brand Ambassadors Empower key members of each of your stakeholder groups to be your brand ambassadors. This will extend the conversation, create more brand touch points, and add more voices/substance. Educate your brand ambassadors on how to address and communicate the unique dimensions of your institution’s:© Eduvanits “Five Dimension of Competition” EDUVANTIS 25
  • 64. 2. Identify Brand Ambassadors Empower key members of each of your stakeholder groups to be your brand ambassadors. This will extend the conversation, create more brand touch points, and add more voices/substance. Educate your brand ambassadors on how to address and communicate the unique dimensions of your institution’s: 1. 2. 3. 4. 5. Product Experience Outcomes Impact Perception© Eduvanits “Five Dimension of Competition” EDUVANTIS 25
  • 65. 3. Create and Share Your Unique Story EDUVANTIS 26
  • 66. 3. Create and Share Your Unique StoryDevelop single clarity around your own story EDUVANTIS 26
  • 67. 3. Create and Share Your Unique StoryDevelop single clarity around your own storyBuild on your institutions distinct brand attributes EDUVANTIS 26
  • 68. 3. Create and Share Your Unique StoryDevelop single clarity around your own storyBuild on your institutions distinct brand attributesCreate bold and distinctive brand expression—definingand communicating the personality of the institutionand its people EDUVANTIS 26
  • 69. 3. Create and Share Your Unique StoryDevelop single clarity around your own storyBuild on your institutions distinct brand attributesCreate bold and distinctive brand expression—definingand communicating the personality of the institutionand its peopleShare and empower your key stakeholders and brandambassadors with this story EDUVANTIS 26
  • 70. 3. Create and Share Your Unique StoryDevelop single clarity around your own storyBuild on your institutions distinct brand attributesCreate bold and distinctive brand expression—definingand communicating the personality of the institutionand its peopleShare and empower your key stakeholders and brandambassadors with this story EDUVANTIS 26
  • 71. 3. Create and Share Your Unique Story EDUVANTIS 27
  • 72. 4. Look For Value Beyond Communications EDUVANTIS 28
  • 73. 4. Look For Value Beyond CommunicationsOnline Relationships have potential beyond social mediaand can lead to powerful: EDUVANTIS 28
  • 74. 4. Look For Value Beyond CommunicationsOnline Relationships have potential beyond social mediaand can lead to powerful: COLLABORATION EDUVANTIS 28
  • 75. 4. Look For Value Beyond CommunicationsOnline Relationships have potential beyond social mediaand can lead to powerful: COLLABORATION INNOVATION EDUVANTIS 28
  • 76. 4. Look For Value Beyond CommunicationsOnline Relationships have potential beyond social mediaand can lead to powerful: COLLABORATION INNOVATION ACCOUNTABILITY EDUVANTIS 28
  • 77. 4. Look For Value Beyond CommunicationsOnline Relationships have potential beyond social mediaand can lead to powerful: COLLABORATION INNOVATION ACCOUNTABILITY RESPONSIBILITY EDUVANTIS 28
  • 78. 4. Look For Value Beyond CommunicationsOnline Relationships have potential beyond social mediaand can lead to powerful: COLLABORATION INNOVATION ACCOUNTABILITY RESPONSIBILITY on a global scale... EDUVANTIS 28
  • 79. 4. Look For Value Beyond Communications EDUVANTIS 29
  • 80. 5. Build The Social Campus EDUVANTIS 30
  • 81. 5. Build The Social CampusThe Social Campus is an extension of your physicalcampus—provide support, instruction, conversations, andservices across multiple platforms. EDUVANTIS 30
  • 82. 5. Build The Social CampusBuild an ecosystem around your institutions—that bothreinforces your brand value and creates multiple touchpoints. EDUVANTIS 31
  • 83. 5. Build The Social CampusThe Social Campus should be an online expression ofyour physical campus and represent your distinct brand.Convey your culture and your unique experiences.Tell Your Story. EDUVANTIS 32
  • 84. 5. Build The Social Campus EDUVANTIS 33
  • 85. 5. Build The Social Campus EDUVANTIS 34
  • 86. And Remember... EDUVANTIS 35
  • 87. And Remember... Stronger online relationships create better online experiences. EDUVANTIS 35
  • 88. And Remember... Stronger online relationships create better online experiences. Better online experiences create a competitive advantage. EDUVANTIS 35
  • 89. Grant SabatierVice President Digital Strategy grant@eduvantis.com 312.332.9100 ex. 103 www.eduvantis.com EDUVANTIS 36