Find the Risk vs. Reward Balance in Social Media

Today you will learn about: Risks Determine how social media tools affect your compliance with regulatory and internal requirements Tools Identify the right types of social networking solutions for your enterprise – consumer social networking (e.g. Facebook, Twitter) or internal solutions Results Measure a real return on your social networking investment by understanding the value of collaboration between internal and external users Best practices Develop guidelines for employees to understand the do's and don't of social networking while representing the organization Achieving secure corporate social networking

Today you will learn about:

Risks

Determine how social media tools affect your compliance with regulatory and internal requirements

Tools

Identify the right types of social networking solutions for your enterprise – consumer social networking (e.g. Facebook, Twitter) or internal solutions

Results

Measure a real return on your social networking investment by understanding the value of collaboration between internal and external users

Best practices

Develop guidelines for employees to understand the do's and don't of social networking while representing the organization

Social marketing maturity cycle “ Most” major Companies are around here – or are trying to be… Communication Communication Expertise Engagement Community Communication Expertise Engagement Community Co-Creation Service Support Communication Expertise Engagement Community Service Support Sales Advocacy Communication Expertise Engagement Community Service Support Sales Advocacy Social CRM Self-service Micro blogging Social Brand Pages Yahoo! Answers Community Participation Corporate Blogging Tools & Information Sponsored Communities Corporate Responsibility Sponsored Conversations Crowd Sourced Innovation Social Q&As Customer Assistance Service as Marketing Social Lead Generation Sales or Employee Advocacy Content Distribution Adaptive Selling Social Commerce Integrated Support Customer-based distribution Community/problem driven sales

1. Risks Loss of control Confidential information Productivity loss Compliance Negative publicity Cost of opportunity for doing nothing

Loss of control

Confidential information

Productivity loss

Compliance

Negative publicity

Cost of opportunity for doing nothing

The voice of the customer is amplified Companies no longer control the message Risk: loss of control

The voice of the customer is amplified

Companies no longer control the message

Participate in the conversation An opportunity to transform the organization

Participate in the conversation

Risk: confidential information Dealing with confidential information and potential loss or leakage of information is becoming a larger concern for organizations The use of social media sites enables users to circumvent company controls controls, opening up the potential to violate corporate communication policies Policies must be set to enable governance and make all employees accountable to guidelines Education and training for employees is a key component to managing loss of information

Dealing with confidential information and potential loss or leakage of information is becoming a larger concern for organizations

The use of social media sites enables users to circumvent company controls controls, opening up the potential to violate corporate communication policies

Policies must be set to enable governance and make all employees accountable to guidelines

Education and training for employees is a key component to managing loss of information

Risk: compliance Companies are still catching up on updating their policies that address use of social media Blogs, Wikis and other forms of social media might be considered electronic communications subject to SoX, SEC, RIPA and other regulations. Corporatecompliance.org, August 2009

Companies are still catching up on updating their policies that address use of social media

Blogs, Wikis and other forms of social media might be considered electronic communications subject to SoX, SEC, RIPA and other regulations.

Risk: productivity loss 77% of workers have a Facebook account Of those workers with Facebook accounts, nearly two-thirds access Facebook during working hours Those who access Facebook at work do so for an average of 15 minutes each day 87% of those who access Facebook at work couldn't define a clear business reason for using it 2009, Nucleus Research Study Social media in all forms has become part of workers every day life Drives collaboration among co-workers, business partners and clients, but also can be a major distraction in the work place Internet monitoring solutions are one option but blocking social media sites at work can backfire Determine what is reasonable use while managing by objectives Used properly, social media can be a boon to productivity

77% of workers have a Facebook account

Of those workers with Facebook accounts, nearly two-thirds access Facebook during working hours

Those who access Facebook at work do so for an average of 15 minutes each day

87% of those who access Facebook at work couldn't define a clear business reason for using it

2009, Nucleus Research Study

Social media in all forms has become part of workers every day life

Drives collaboration among co-workers, business partners and clients, but also can be a major distraction in the work place

Internet monitoring solutions are one option but blocking social media sites at work can backfire

Determine what is reasonable use while managing by objectives

Used properly, social media can be a boon to productivity

Risk: cost of opportunity for doing nothing Becoming expected “cost-of-entry” for demanding consumers and users of the Web Not part of the dialogue that’s happening with or without being involved Access to competitive/competitors conversations Loss of control/ability to to respond to your constituents Ability to influence conversation Loss of opportunity to retain customers with negative experience/loss of opportunity to win new customers

Becoming expected “cost-of-entry” for demanding consumers and users of the Web

Not part of the dialogue that’s happening with or without being involved

Access to competitive/competitors conversations

Loss of control/ability to to respond to your constituents

Ability to influence conversation

Loss of opportunity to retain customers with negative experience/loss of opportunity to win new customers

The rules have changed It’s about culture transformation Requires authenticity, passion and transparency Be aware, not afraid Change can be a threat or an opportunity Be prepared Listen and learn Create a social media strategy for your company Guidelines Policies Measurement

It’s about culture transformation

Requires authenticity, passion and transparency

Be aware, not afraid

Change can be a threat or an opportunity

Be prepared

Listen and learn

Create a social media strategy for your company

Guidelines

Policies

Measurement

Managing risk – it’s not just about under-standing technology, it’s about changing behavior Implementing a plan to help control your company’s digital influence is critical to the success of your social media strategy Develop guiding principles Define the process Enable a governance structure Policy/education Develop guidelines for governance that is aligned with strategy, goals and metrics Develop internal process flow for creating a responsive, flexible and optimized approach to managing social media strategy Assign roles/ responsibilities to enable accountable, shared governance across the organization Create corporate policy docu-mentation and communication/education plan for new governance approach

Implementing a plan to help control your company’s digital influence is critical to the success of your social media strategy

Develop guidelines for governance that is aligned with strategy, goals and metrics

Develop internal process flow for creating a responsive, flexible and optimized approach to managing social media strategy

Assign roles/ responsibilities to enable accountable, shared governance across the organization

Create corporate policy docu-mentation and communication/education plan for new governance approach

J&J | JNJ BTW blog promotes transparency J&J’s blog does have its limitations, and these are clearly spelled out on the site. There are certain subjects the authors will not talk about. The blog allows comments, but all comments are reviewed before being posted, and comments about certain subjects—including comments about products sold by J&J operating companies and about any ongoing legal matters—are not likely to be posted. The editor does note that comments not posted on the site may be forwarded to others within Johnson & Johnson for follow-up as appropriate. In addition, the site is more strongly focused on the consumer products side of J&J’s business than on the pharmaceutical side.

J&J’s blog does have its limitations, and these are clearly spelled out on the site.

There are certain subjects the authors will not talk about.

The blog allows comments, but all comments are reviewed before being posted, and comments about certain subjects—including comments about products sold by J&J operating companies and about any ongoing legal matters—are not likely to be posted.

The editor does note that comments not posted on the site may be forwarded to others within Johnson & Johnson for follow-up as appropriate.

In addition, the site is more strongly focused on the consumer products side of J&J’s business than on the pharmaceutical side.

2. Results

Lack of Social Media Maturity

What are most effective things to do? Why they would use Web 2.0 and how to measure effectiveness? How to set up the best Web 2.0 approach to fit the company? What should we measure?

What are most effective things to do?

Why they would use Web 2.0 and how to measure effectiveness?

How to set up the best Web 2.0 approach to fit the company?

Social media is not a strategy, it should support a strategy.

Social media is not a strategy, it should support a strategy Customer support Marketing Strategy Product Development

Marketing Brand management, interest, engagement, conversion Corporate communications & PR Listening, influence, awareness Customer support Time to resolution, issues resolved - cost savings Human resources Ramp-up, time to productivity, retention Knowledge management Productivity, agility, efficiency Product development Adoption and competitiveness Social media driving business results

Marketing

Brand management, interest, engagement, conversion

Corporate communications & PR

Listening, influence, awareness

Customer support

Time to resolution, issues resolved - cost savings

Human resources

Ramp-up, time to productivity, retention

Knowledge management

Productivity, agility, efficiency

Product development

Adoption and competitiveness

Goals Reputation management Listening Learning Engaging Blogger relations Conversation rate Comments on blogs Discussions on customer community Increase brand awareness Generate new leads Customer service and support Social media activity Social media tools Micro blogging Blogs Listening platform Social networks Business outcomes Live casting Customer community Social media strategy overview Social media monitoring Sentiment analysis & tagging Brand mentions Influencer identification Needs unfulfilled Places conversations take place Interest by solution area

Blogger relations

Conversation rate

Comments on blogs

Discussions on customer community

Social media monitoring

Sentiment analysis & tagging

Brand mentions

Influencer identification

Needs unfulfilled

Places conversations take place

Interest by solution area

Industry recognition: AdWeek 150, Forrester best practices on organizing social media Social media campaign: Blogger outreach resulted in 18 retweets reaching 40k people interested in social media Achieved 20% of share of voice in WCM market Key Metrics Example: increase brand awareness Brand mentions Share of voice Extending reach

Industry recognition: AdWeek 150, Forrester best practices on organizing social media

Social media campaign: Blogger outreach resulted in 18 retweets reaching 40k people interested in social media

Achieved 20% of share of voice in WCM market

Brand mentions

Share of voice

Extending reach

Provided new channel for customers to interact and ask questions Pro-actively fulfilled multiple request Providing best practice to customers for implementing social media Key Metrics Highlights Example: customer service and support # of interactions #of support questions answered # of customer strategy sessions

Provided new channel for customers to interact and ask questions

Pro-actively fulfilled multiple request

Providing best practice to customers for implementing social media

# of interactions

#of support questions answered

# of customer strategy sessions

Activity alone does not yield results. You get what you measure. You can’t improve what you don’t measure. Think of social media as part of the marketing mix. It is not a silo. Only when you achieve repeatable success will social media be a capability Lessons learned

Activity alone does not yield results. You get what you measure. You can’t improve what you don’t measure.

Think of social media as part of the marketing mix. It is not a silo.

Only when you achieve repeatable success will social media be a capability

3. Tools

Fish where the fish are - participate Bring the conversation to your site Integrate social and “traditional” experiences Deliver an integrated user experience

Fish where the fish are - participate

Bring the conversation to your site

Integrate social and “traditional” experiences

Communities vs. tools Professional Personal Gamer Personas Communities exist independently of the tools used to access them. Linked IN, Xing and Plaxo are not the network, only tools to help me interact and enhance my professional social network. People assume different personas, and they want to keep them separate Federated identity is valuable, but respecting users privacy and giving them control is fundamental – remember the Beacon fiasco?

Communities exist independently of the tools used to access them. Linked IN, Xing and Plaxo are not the network, only tools to help me interact and enhance my professional social network.

People assume different personas, and they want to keep them separate

Federated identity is valuable, but respecting users privacy and giving them control is fundamental – remember the Beacon fiasco?

Integrate social and traditional content Contextually-relevant information i.e. finding a recipe on MarthaStewart.com or answering a product question Project-based information Information stored in social repositories versus traditional business documents Privacy, access and retention policies Community-enriched content Ratings, comments and reviews Transparent contributions Recommendations

Contextually-relevant information

i.e. finding a recipe on MarthaStewart.com or answering a product question

Project-based information

Information stored in social repositories versus traditional business documents

Privacy, access and retention policies

Community-enriched content

Ratings, comments and reviews

Transparent contributions

Recommendations

4. Best practices

Developing a social marketing strategy Develop an initial strategy Determine objectives for social media Select targeted channels and tactics Set timelines and measurement criteria Establish a team and governance model Identity a core social media team, and regional representatives Identify content producers Define and communicate a governance model for official and casual use of social media Start listening and monitoring Understand what is being said about your brand Identify needs where your targets are, what they talk about, and where we can add value Select key topics, and actively monitor the chatter Test and learn Select 2-3 specific focus areas, with concrete, measureable results Initiate small campaigns – a blog, forum, twitter feed, video, etc. Measure the results Expand (and measure) Take what works, and expand the investment – more content, more conversation Continue to measure the results, adjust investment as appropriate LISTEN, PLAN, PARTICIPATE, MEASURE, EXPAND

Develop an initial strategy

Determine objectives for social media

Select targeted channels and tactics

Set timelines and measurement criteria

Establish a team and governance model

Identity a core social media team, and regional representatives

Identify content producers

Define and communicate a governance model for official and casual use of social media

Start listening and monitoring

Understand what is being said about your brand

Identify needs where your targets are, what they talk about, and where we can add value

Select key topics, and actively monitor the chatter

Test and learn

Select 2-3 specific focus areas, with concrete, measureable results

Initiate small campaigns – a blog, forum, twitter feed, video, etc.

Measure the results

Expand (and measure)

Take what works, and expand the investment – more content, more conversation

Continue to measure the results, adjust investment as appropriate

Considerations to develop a strategy What is the business need/objective (why are we doing it)? Is the initiative part of a broader program? Who is the audience? How will the effort solve the challenges or opportunities facing the organization (expected benefits)? What are the alternatives? What is the “cost” of in-action (status quo)? What are the “unintended consequences” ?

What is the business need/objective (why are we doing it)?

Is the initiative part of a broader program?

Who is the audience?

How will the effort solve the challenges or opportunities facing the organization (expected benefits)?

What are the alternatives?

What is the “cost” of in-action (status quo)?

What are the “unintended consequences” ?

Best practices Assess real security and safety threats Be aware, not afraid Develop social media guidelines that are simple enough to be understood by everyone Including a disclaimer that the views expressed on the site are those of the author and do not represent the company’s views; and Training and enforcement Roles and responsibilities – who, when, how Social media strategist or community manager role But social media is not the job of one person Develop listening mechanisms .. and the process and empowerment to act &respond Evaluate using moderation when and as appropriate

Assess real security and safety threats

Be aware, not afraid

Develop social media guidelines that are simple enough to be understood by everyone

Including a disclaimer that the views expressed on the site are those of the author and do not represent the company’s views; and

Training and enforcement

Roles and responsibilities – who, when, how

Social media strategist or community manager role

But social media is not the job of one person

Develop listening mechanisms

.. and the process and empowerment to act &respond

Evaluate using moderation when and as appropriate

Additional resources Building a Social Media Strategy Roadmap White Paper http://www.vignette.com/smroadmap Watch a recording of this webcast http://campaigns.opentext.com/forms/risk-vs-reward Learn more about Sapient http://www.sapient.com Learn more about Open Text Social media solutions http://www.vignette.com/us/Solutions/Social-Media

Building a Social Media Strategy Roadmap White Paper

http://www.vignette.com/smroadmap

Watch a recording of this webcast

http://campaigns.opentext.com/forms/risk-vs-reward

Learn more about Sapient

http://www.sapient.com

Learn more about Open Text Social media solutions

http://www.vignette.com/us/Solutions/Social-Media

thank you.