Social Media Strategies for Business - Social Media Governance

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Slide deck from Filtrbox's 11/19 Webinar on Social Media Governance

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  • Advertising Advertising is more sustained and less discrete beginning and endings to campaigns David Meerman Scott: two separate teams: traditional marketing, social marketing Beyond Advertising Today, organizations are using social media to create value throughout the customer lifecycle. Much of what we read about lies in branding and lead generation, but organizations are rapidly finding new ways to use social media to support existing customers, and to create new products or services with social features. Integrating SCRM channels with CRM and the rest of the enterprise apps is where companies will create value and see the value for SCRM.  Don’t just do it for the sake of doing it, because that is expensive and does not create value.
  • Advertising and PR were the early adopters of social media As more of the business pursues business objectives with social media, or tries to support the Marketing and PR groups, social media becomes more complex to manage because: Sources of increasing complexity Coordination More people want to get involved, and need to be involved This means that more people in the business and support functions need to get smarter – and stay smarter – about the social media’s relevance to their domain Partnerships and integration with social utilities Greater scrutiny and desire for business cases Business cases Alignment with business objectives Accountability and incentives Data management Customer data management, and integrated customer view Leveraging data to create value Privacy Ownership of data created within social media is often unclear Consumer logging into your site with federated ID (e.g., Facebook Connect, OpenID, Google Friend Connect) Your commitment to privacy may be different than your social media partners Information security and regulatory compliance Scalability and consistency Absence of service level agreements from social media partners Best practices and training when your team must continually update their knowledge of available tools and evolving features Balancing empowerment and risk regarding the brand and customer experience when more employees will interact with customers – probably more frequently The goal is to achieve consistent behavior, linked back to the business vision, while empowering creativity. Policies, procedures and contingency plans Vendor selection
  • Nearly every function in the company can play a role, so coordination can quickly overwhelm internal champions of social media efforts. The early adopters in PR and Advertising often do not have a strong history of leading cross-functional initiatives or development of sustainable, cross-functional business capabilities. Development of Policies  Implementation of Policies
  • Many companies are reacting by simply banning social media, which may give them time to figure out how they want to handle social media, but certainly does not differentiate them in the eyes of customers, and, therefore, misses tremendous opportunities to create new value with social media.
  • Talk about how some policies have been structured and why they have been structured that way: More flexibility or less Razorfish Public v. private Regulated: Limitations on product promises Customer privacy: healthcare can not mention patient information Retention policies Small v. large
  • Social Media Strategies for Business - Social Media Governance

    1. 1. Social Media and Corporate Governance Everything You Need To Know Sponsored by Social Media Governance Empowerment With Accountability TM #SMSFB @filtrbox @cboudreaux Join the conversation: Hash tag
    2. 2. Speaker Bios Chris Boudreaux helps organizations get the most from their social media and social application investments through consulting services and online tools at SocialMediaGovernance.com. In the past, Chris ran Business Development and Product Marketing for a digital advertising start-up acquired by Glam Media was an executive at Accenture, where he led product development, CRM and customer analytics projects at firms including Microsoft, eBay, Boeing and Cisco. Chris flew helicopters in the U.S Navy and completed Surface Warfare Officer qualifications while hunting drug smugglers in the Caribbean. He holds an MBA and MS in Computer Science from the University of Chicago, Master of Aeronautical Science from Embry-Riddle Aeronautical University, and BS in Management from Tulane University. He lives in Silicon Valley with his wife and son. Ari Newman is a passionate entrepreneur who excels in creating value in ideas and technology and thrives on the challenges and opportunities that define early stage companies. He is President and Founder of Filtrbox, a real-time social media monitoring service that helps companies listen to and engage in online conversations.  In the year since launch, Filtrbox has grown to over 10,000 users and hundreds of customers. Previously Ari was Founder and Principal of Newman Venture Advisors, VP of Product Management at CreekPath Systems and Director of Operations at Volera. Ari’s expertise includes SaaS, consumer internet, enterprise application software, IP networks, enterprise storage, and social media marketing. He lives in Boulder, CO with his wife and two children, where his happiest moments are when his 5 year old daughter agrees to watch cycling races with him.. Social Media Governance Empowerment With Accountability TM
    3. 3. Agenda <ul><li>Setting the Stage - What is Social Media Governance? </li></ul><ul><li>The Need for Social Media Governance </li></ul><ul><li>Best Practices for Social Media Policies </li></ul><ul><li>Best Practices for Implementing and Managing Policy Compliance </li></ul><ul><li>Q&A </li></ul>
    4. 5. Social media can add value throughout the customer experience Example Benefits of Social Media in the Enterprise, by Business Capability Product Development Marketing and Sales Fulfillment and Support © 2009 by Chris Boudreaux. SocialMediaGovernance.com <ul><li>Example Benefits </li></ul><ul><li>Crowd sourcing </li></ul><ul><li>Customer research </li></ul><ul><li>Collaboration </li></ul><ul><li>Improved targeting </li></ul><ul><li>New channels </li></ul><ul><li>Viral mechanism </li></ul><ul><li>New revenue models </li></ul><ul><li>New payment methods </li></ul><ul><li>Cost-to-serve options </li></ul><ul><li>Richer interactions </li></ul><ul><li>Greater personalization </li></ul>
    5. 6. Advertising and Public Relations Customer Support and eCommerce Sales Support Product Development Core Product Features Evolution of Enterprise Social Media Capabilities Operational Complexity © 2009 by Chris Boudreaux. SocialMediaGovernance.com Managing social media grows more complex as you pursue larger objectives
    6. 7. Enterprise Information Management Enterprise Technology Architecture Legal eCommerce and Customer Solutions eCommerce Risk and Compliance Employee Communications Authentication, Customer Protection Human Resources Employee Technology * Many, many others depending on the project and its internal/external goals Global Marketing & Corporate Affairs Enterprise Technology and Delivery Technology Enablement and Process Collaboration Technology Online Marketing Electronic Communications and Media Governance Committee Social Media Analytics Customer Service & Solutions eCommerce Controls and Readiness Finance eCommerce Technology Business Unit Leaders Real Example of the Complexity Source: SocialMediaGovernance.com Social Capabilities Internal Social Media Stakeholders at a Global Financial Services Company* (disguised)
    7. 8. When Social Media Governance is Needed <ul><li>Does size matter? (it depends on how you use it ;-) </li></ul><ul><li>Social media for public companies vs. private companies </li></ul><ul><li>Small vs. large </li></ul><ul><li>Domestic vs. international </li></ul><ul><ul><li>Be aware of culture and customs </li></ul></ul>
    8. 9. © 2009 by Chris Boudreaux. SocialMediaGovernance.com Governance : policies, process, metrics that balance empowerment and accountability Principles and Enablers Process Model Governance Structure Responsibility Matrix Metrics Policies Defines and describes inter-operation of processes, structure and metrics to achieve business goals through social media Processes that enable effective decisions and continual improvement throughout design, development and operation of social media solutions Key leaders and participants, and their primary responsibilities with respect to social media Roles and responsibilities of primary and supporting participants across organizational functions Business performance metrics that inform decisions Guidance to employees regarding how they should or should not utilize social media
    9. 10. © 2009 by Chris Boudreaux. SocialMediaGovernance.com Governance : policies, process, metrics that balance empowerment and accountability Principles and Enablers Process Model Governance Structure Responsibility Matrix Metrics Policies Defines and describes inter-operation of processes, structure and metrics to achieve business goals through social media Processes that enable effective decisions and continual improvement throughout design, development and operation of social media solutions Key leaders and participants, and their primary responsibilities with respect to social media Roles and responsibilities of primary and supporting participants across organizational functions Business performance metrics that inform decisions Guidance to employees regarding how they should or should not utilize social media Today Today
    10. 11. Common Motivations for Social media Policies 1 (Percentages Based on Tone 2 ) Reactive Focus on Risk (15%) Proactive Focus on Upside (37%) Neutral (48%) [1] Source: SocialMediaGovernance.com. [2] Percentages based on SocialMediaGovernance.com analysis of 46 social media policies, 2009. © 2009 by Chris Boudreaux. SocialMediaGovernance.com Most companies focus on the opportunity <ul><li>Regulatory compliance (e.g., utilities and financial services) </li></ul><ul><li>Public company disclosures </li></ul><ul><li>Respect copyright </li></ul><ul><li>Respect others </li></ul><ul><li>Link to sources </li></ul><ul><li>Lead by example (e.g., Razorfish) </li></ul><ul><li>Decrease average cost per lead </li></ul><ul><li>Tap the power of employees in the market (e.g., Zappos) </li></ul>
    11. 12. Few organizations guide use of trademarks Source: SocialMediaGovernance.com analysis of 46 social media policies, November 2009. Allowed Use of Organization’s Trademarks in Personal Social Media Best Practice Support your employees and let them know where your boundaries lie. Tell them whether they are permitted to use your organizational trademarks, such as logos, in their personal content. Don’t leave them guessing. Ask Permission 11% Prohibited 7% No Mention 82% © 2009 by Chris Boudreaux. SocialMediaGovernance.com
    12. 13. Portion of Companies Separating Style and Performance From Broad Guidance Mixed Guidelines 24% Separate Documents 76% <ul><li>Best Practice </li></ul><ul><li>Create at least two policies, as follows: </li></ul><ul><li>One policy that sets expectations provides boundaries for all employees, including any relevant limitations or ideas for the personal use of social media. </li></ul><ul><li>Operational guidelines for employees working in social media as part of their job. </li></ul>Most organizations create multiple policies Source: SocialMediaGovernance.com analysis of 46 social media policies, November 2009. © 2009 by Chris Boudreaux. SocialMediaGovernance.com
    13. 14. Listening 101 <ul><li>Set up monitors for: </li></ul><ul><ul><li>Company, products, key Twitter accounts, senior executives, important customers, competitors, employees. </li></ul></ul><ul><li>Ensure all stakeholders have same data </li></ul><ul><li>Real-time alerts for can’t miss mentions </li></ul><ul><li>Who answers? </li></ul>
    14. 15. Engagement Best Practices <ul><li>Golden Rule </li></ul><ul><ul><li>Be Truthful, Authentic, Transparent, and Timely </li></ul></ul><ul><li>Be Human (reconcile with governance) </li></ul><ul><li>Follow the evolution (Listen, Engage, Measure, Lead) </li></ul><ul><li>KISS where possible (limit approval chains, etc) </li></ul>
    15. 17. Social Media Policy Checklist NON-EXHAUSTIVE <ul><li>Policy Owner </li></ul><ul><li>Policy Participants </li></ul><ul><li>Audience Locations </li></ul><ul><li>Employee Locations </li></ul><ul><li>Who Represents Org in Social Media </li></ul><ul><li>Utilities Covered (e.g., Facebook, Internal Apps) </li></ul><ul><li>Tools Provided (e.g., Filtrbox) </li></ul><ul><li>Governance Processes </li></ul><ul><li>Opportunity v. Risk </li></ul><ul><li>Desired Behaviors </li></ul><ul><li>Scope: Personal Use </li></ul><ul><li>Benefits Desired </li></ul><ul><li>Public or Private Publishing </li></ul><ul><li>Tone </li></ul><ul><li>Disclosure on Personal Properties </li></ul><ul><li>Use of Trademarks </li></ul><ul><li>Use of Confidential or Proprietary Information </li></ul><ul><li>Speaking About Your Org </li></ul><ul><li>Privacy </li></ul><ul><li>Press Contacts </li></ul><ul><li>Special Consideration for Selected Utilities </li></ul>
    16. 18. Questions? <ul><li>Chris Boudreaux, Creator, SocialMediaGovernance.com </li></ul><ul><li>(415) 692-1250, [email_address] , @cboudreaux </li></ul>Speaker Contact Info: ©2009 Ari Newman, Founder and President, Filtrbox, Inc. @arinewman or @filtrbox, [email_address]

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