Social Media Strategies for Business - Social Media Governance

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

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

Agenda
Setting the Stage - What is Social Media Governance?
The Need for Social Media Governance
Best Practices for Social Media Policies
Best Practices for Implementing and Managing Policy Compliance
Q&A

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
Example Benefits
Crowd sourcing
Customer research
Collaboration
Improved targeting
New channels
Viral mechanism
New revenue models
New payment methods
Cost-to-serve options
Richer interactions
Greater personalization

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

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)

When Social Media Governance is Needed
Does size matter? (it depends on how you use it ;-)
Social media for public companies vs. private companies
Small vs. large
Domestic vs. international
Be aware of culture and customs

© 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

© 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

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
Regulatory compliance (e.g., utilities and financial services)
Public company disclosures
Respect copyright
Respect others
Link to sources
Lead by example (e.g., Razorfish)
Decrease average cost per lead
Tap the power of employees in the market (e.g., Zappos)

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

Portion of Companies Separating Style and Performance From Broad Guidance Mixed Guidelines 24% Separate Documents 76%
Best Practice
Create at least two policies, as follows:
One policy that sets expectations provides boundaries for all employees, including any relevant limitations or ideas for the personal use of social media.
Operational guidelines for employees working in social media as part of their job.
Most organizations create multiple policies Source: SocialMediaGovernance.com analysis of 46 social media policies, November 2009. © 2009 by Chris Boudreaux. SocialMediaGovernance.com

Listening 101
Set up monitors for:
Company, products, key Twitter accounts, senior executives, important customers, competitors, employees.
Ensure all stakeholders have same data
Real-time alerts for can’t miss mentions
Who answers?

Engagement Best Practices
Golden Rule
Be Truthful, Authentic, Transparent, and Timely
Be Human (reconcile with governance)
Follow the evolution (Listen, Engage, Measure, Lead)
KISS where possible (limit approval chains, etc)

Social Media Policy Checklist NON-EXHAUSTIVE
Policy Owner
Policy Participants
Audience Locations
Employee Locations
Who Represents Org in Social Media
Utilities Covered (e.g., Facebook, Internal Apps)
Tools Provided (e.g., Filtrbox)
Governance Processes
Opportunity v. Risk
Desired Behaviors
Scope: Personal Use
Benefits Desired
Public or Private Publishing
Tone
Disclosure on Personal Properties
Use of Trademarks
Use of Confidential or Proprietary Information
Speaking About Your Org
Privacy
Press Contacts
Special Consideration for Selected Utilities

Questions?
Chris Boudreaux, Creator, SocialMediaGovernance.com
(415) 692-1250, [email_address] , @cboudreaux
Speaker Contact Info: ©2009 Ari Newman, Founder and President, Filtrbox, Inc. @arinewman or @filtrbox, [email_address]

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Social Media Strategies for Business - Social Media Governance

by Ari Newman on Nov 19, 2009

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Social Media Strategies for Business - Social Media Governance — Presentation Transcript