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    Connect Champions Day October 2010 Connect Champions Day October 2010 Presentation Transcript

    • Connect Champions Day
      Social Media for
      Sustained Business Growth
      Dr. Jim Hamill
      jim.hamill@ukonline.co.uk
      Alan Stevenson
      ast3v3nson@gmail.com
      October, 2010
    • Remit/Background
      Talk about non-traditional routes to market – especially international markets (my background is export marketing and international business)
      Used effectively, social media can help to break down SME growth barriers/ barriers to internationalization
    • Remit/Background
      Potential business benefits are wide ranging
      Market/Customer Knowledge & Insight
      Engagement & Reputation Management
      Enhanced Customer Experience and Loyalty
      Sales/Marketing Effectiveness, Efficiency and ROI
      Operations/ Internal Processes (open source and hosted apps)
      But the key words are ‘used effectively’
    • Remit/Background
      Interest and enthusiasm in SM among SMEs is growing rapidly
      Channels are being set up
      But there is a lack of ‘strategic thinking’
      Most SMEs do not have a clear social media vision or strategy; objectives are often undefined; little emphasis on KPIs, targets, ROI or on-going performance measurement
      Lack of attention paid to organization, people, resource issues critical to on-going SM success
      • Social Media Planning Pays
    • Focus
      General presentations/advice on social media – www.energise2-0.com
      For today – a more focused approach
    • Agenda
      Key point summary
      A case example – using our ‘Customer Value Matrix’ and ‘Quality Customer Growth Programme’
      General advice – ‘Things to remember about social media’
      ‘Getting there’ – social media planning pays
      Social media is not just for B2C
    • B2B Use of Social Media
      93% of business buyers believe all companies should have a social media presence
      85% of business buyers believe companies shouldn’t just present information via social media – they should also interact and engage with them
      Source: Buzz Marketing
      http://www.futurelab.net/blogs/marketing-strategy-innovation/2010/09/17_compelling_and_highly_usabl.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Futurelab+%28Futurelab%27s+Blog%29
    • Key Point
      Summary
    • Key Point Summary
      OK – so we have a great new product or service; but how do we market and promote it? How do we ‘create the buzz’?
      Option 1: The Traditional Marketing 101 (‘4Ps’) approach
      Product development – Price/Differentiate – Market and Promote – Sell/Place
      Problem is... does anybody listen any more?
      Traditional/mainstream approaches to sales and marketing are declining in effectiveness
    • Source: The Future of Advertising, APA, 17/02/09 as published on Slideshare (www.slideshare.com)
    • New Approaches Required
      • The Social Media Revolution has led to a POWER SHIFT
      • New business models and new approaches to sales/marketing are required - based on:
      • Communities, networks, openness, peering, sharing, collaboration, customer empowerment, ‘think and act’ globally
      • Engage and energise – marketing as a two-way conversation
      • ‘Create the Buzz’
      • Requires new performance measures – the ‘4Is’
    • Performance Measures - The ‘4Is’
      • Involvement – network/community numbers/quality, time spent, frequency, geography
      • Interaction – actions they take – read, post, comment, reviews, recommendations
      • Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc
      • Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking
      Social Media Monitoring Tools –Audit, Assess, Impact
    • Monitor the Conversations
      Use Social Media Monitoring Tools to monitor online conversations relevant to your brand
      No or low cost tools such as Google Alerts, Yahoo Pipes, Social Mention, IceRocket, Blogscope, Blogpulse and ViralHeat
      More expensive and sophisticated tools such as Radian6, Alterian SM2, Sysomos Heartbeat and Infegy SocialRadar 
    • The Three Key Questions
    • Three Simple Questions
      Who are our customers?
      Where do they hang out in social media?
      How can we best engage with and energise them?
    • www.mashable.com
    • New Approaches Required
      Especially true in International Marketing.....
      The Safety Harness Example
    • Safety Harness Company
      About Us: I am a manufacturer of safety harnesses for industrial use. My belay system is an innovative design It ensures that users (injured or not) are returned to ground safely.
      My target customers: Health & Safety Equipment Resellers; Health & Safety Consultants; Health & Safety Representatives
      My target industries: Utilities, Construction; Other industries that require height work
    • Mainstream Export Marketing Advice
      Market research and country screening
      Long list of potential countries
      Short list of the most attractive markets
      Decide which market(s) to enter
      Concentration v. spreading
      Identify the range of foreign market entry strategies available e.g. indirect/direct exporting; licensing; joint ventures; strategic alliances; FDI
      Costs/benefits
      Choose the entry strategy
      Identify agents.....
      etc etc etcetcetcetcetc.........
    • A New Approach
      How can I do this differently?
      How can I break down these barriers?
      Leading to more rapid internationalization at lower cost
    • Safety Harness Company
    • Safety Harness Company
    • A Case Example
      Using Social Media to Build a Quality International Customer Base/ A Quality Network (4Is)
    • The Company
      A new business start-up
      Supplier of hi-tech solutions to the neurotechnology and optogenetic sectors
      Wikipedia Definition: a combination of optical and genetic technologies to probe neural circuits at high speeds
      Project Task
      Identify most attractive potential customers and a communications plan for engagement
      Who, Where, How?
    • The Framework
      Quality Customer
      Growth Programme
    • QCGP
      A systematic, professional approach to identifying and acquiring the right type of customer, managing and growing the relationship with them
      Will ensure that your sales, marketing and relationship building efforts are targeted at `quality' customers and sales prospects (high value, high growth potential, high probability of success customers)
    • QCGP
      • This will improve the effectiveness (ROI) and efficiency (costs) of sales, marketing and relationship building efforts
      • Will ensure that your future growth is built on a solid foundation of rock rather than sand
      • QCGP is a very flexible tool. It can be used to evaluate the quality of a company's existing customer base; sales prospects; target markets and sectors
    • The Customer
      Value Matrix
    • Customer Value Matrix
      • A strategic framework for positioning different customers, sales prospects, markets and sectors according to their relative importance to the company.
      • Two main criteria:
      `Customer Attractiveness' - the current and future value of a particular customer (sales prospect, market or sector) taking into account sales value, customer acquisition and service costs, short and long term customer profitability etc.
      `Probability of Success' - the likelihood that the company can win, retain and grow that customer's business
    • Customer Value Matrix
    • Quality Customer Growth Programme
    • So how did we use
      this approach?
    • QCGP
      Start with a ‘Customer Mapping Exercise
      Identified 3 main customer groups
      Individuals in neuroscience
      Neuroscience/optogenetic institutes, firms and clusters
      Individuals in optogenetics
      Used Linkedin for building a customer database.....
      Then position on the Customer Value Matrix
      Communications strategy emerged from this.......
    • QCGP
      27,000 neuroscience profiles on Linkedin
      100 neuroscience institutes, firms, clusters
      50 neurotechnology companies
      50 individuals in optogenetics
      Further filtered to identify the Top 50 ‘best sales prospects’
      Updated yesterday........
    • 39,666 Neuroscience People
    • 246 Neuroscience Companies
    • 22 Optogenetics People
    • Society of Neuroscience 2,889 Members
    • Things to Remember
      about Social Media
    • The Essence of Social Media
      It’s social
      A key feature is online democracy – with content being provided by the network for the network – represents a fundamental and revolutionary change in online behaviour, expectations and the online customer experience. The end of the ‘read only’ internet
      Power shift
      Social media empowers customers, empowers the network. Recognizing this shift is the cornerstone of future success
      Declining effectiveness of traditional approaches 
      Does anyone listen to sales/brand messages anymore?
    • The Essence of Social Media
      Pull v push
      Consumers/users decide what information they wish to access
      New ‘mindsets’ are required
      Marketing as a conversation with your customers, a conversation with your network – dialogue not broadcasting
      But this is something that most of us are not very good at doing
      We prefer ‘telling’ people
      SM ‘winners’ and ‘losers’
      ‘Winners’ will be those organisations who fully utilise the interactive power of Web 2.0 technology for engaging with and energising customer and network relationships
    • The Essence of Social Media
      New performance measures
      Requires new performance measures
      Quality of your network
      Relationship strength
      Ability to leverage
      Social media monitoring tools
        
      Redefines the concept of a web site
      The need for new business/marketing models
    • Built Using Wordpress
    • Embeds SM Channels
    • Embeds SM Channels
    • We use it
    • CMS and Stats
    • ‘Getting There’
    • Next Steps
      Get Involved
      Google Alerts, Linkedin, Social Media Monitoring
      Learn more
      Develop a strategy
      Implement
      Monitor
    • SM Strategy Development
      • Strategic objectives
      • Targets
      • Key performance indicators (KPIs)
      • Customer segments
      • The key social media actions and initiatives required for ‘getting there’
      • Organisational, people and resource issues
      Ensure that your social media strategy is fully aligned with and
      supportive of your overall strategic goals and objectives with
      clear targets and ROI criteria
    • Social Media
      Development Cycle
    • SM Development Cycle
    • Each Step is being covered in detail on our blog at
      www.energise2-0.com
    • Five Key Areas
      External Analysis: Evaluate Your Social Media Landscape
      Internal Analysis: Evaluate Your ‘Readiness to Engage’
      Develop Your Social Media Strategy and Action Plans for ‘Getting There’
      Evaluate Your Social Media Performance and ROI
      Organization, People and Resource Issues
    • The Three Key Questions
    • Three Simple Questions
      Who are our customers?
      Where do they hang out in social media?
      How can we best engage with and energise them?
    • www.mashable.com
    • Continue the discussion at
      www.energise2-0.com
    • Thank You
    • Bob Dylan
      Come gather 'round people
      Wherever you roam
      And don’t criticise
      What you can't understand
      Your sons and your daughters
      Are beyond your command
      Your old road is
      Rapidly agin‘
      Then you better start swimmin’
      Or you'll sink like a stone
      For the times they are a-changin’