Get Social

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Presentation at the Eureka360 Event, Thursday 27th October

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  • Market Knowledge: Competitors, Suppliers, Buyers, Influencers; Google insight, Google Alerts will provide a view on most companies within an industry. Also, there are a range of blogs and networks where amateurs and professionals will share their knowledge of a market. Customer Insight and Understanding: Listening to customers and prospects through the range of channels they inhabit; comments on YouTube, Networks where they ‘hang out’ Customer Interaction: the tools exist to not only listen and observe but also to discuss and converseBusiness Intelligence: media monitoring, alerts and related analysis tools provide a great source of structured Business Intelligence. You need not pay £600/month for the privilege, SocialMention and Google Alerts can keep you informed where you need to be. Reputation Management: one of the key aspects of web 2.0 is that it is Real Time. You can see and respond to comments as they arise and often, where the response is efficient and effective, create a positive effect. Consider, the Ethiopian Growers that challenged the coffee used by Starbucks in a video posted on YouTube. This video was viewed by 10,000 people. The CEO posted a response within 24 hours on YouTube, the response was viewed by several million.
  • We believe there is a strong correlation between positive word of mouth, online buzz and sales and marketing. Needless to say there are now numerous means of getting your message out there, growing followers (through sites like Twitter, and energising your customer base). Web 2.0 is immediate and direct. The example I like to use is of a safety harness company based in Edinburgh who considered using a traditional approach to International Sales and Marketing – find an agent, find prospects, etc. An alternative approach we suggested, used LinkedIn to find the Health And Safety Director of the largest Construction Project in the world. Now it is not a leap to suggest filming the harness on YouTube and sending an email with a link saying you are in Saudi Arabia and would he like to meet up. Numerous examples of customer insight and feedback leading to product improvement. Many car companies use Second Life to test their designs. A site called eBags sends out the latest designs to their top raters on the site. Internal cost savings. No 10 Downing Street example…Improved Operations and internal processes. There are applications for literally anything – wikis that compete with licenced intranets, email freeware that is better than Outlook, hosted network sites for £20/month that would cost £thousands to replicate. Increased Return on Investment. The holy grail or the achiles heal of Web 2.0. How do you make money from this thing…there is a growing level of evidence to suggest that it works.
  • Get Social

    1. 1. ENERGISE2-0.COM‘Get Social’Dr. Jim HamillAlan StevensonVincent Hamillwww.energise2-0.com 27th October, 2011
    2. 2. Let’s start with afew questions? ENERGISE2-0.COM
    3. 3. Social Media: The State of PlayWhere are you with socialmedia?What progress has beenmade? Where are you going? ENERGISE2-0.COM
    4. 4. Our View on Progress MadeInterest and enthusiasm has grown rapidlyEveryone is now a social media expert Channels are being set upBut lack of strategic planning leads toproblems down the line - resourcing, content,customers, performance measurement etcA broadcast mentality prevails……. ENERGISE2-0.COM
    5. 5. There is something fundamentallywrong with our approach to Social Media ENERGISE2-0.COM
    6. 6. Something Wrong…..In too many companies, social media is seen as just anotherPR/marketing channel for broadcasting messages ATcustomers telling them how good we areAre our customers listeninganymore?The rules of the gamehave changed! ENERGISE2-0.COM
    7. 7. Our Role TodayEncourage you to adopt a newapproach to social media –an ‘outside-in’,customer led approachUse social media as anengagement platform for talkingWITH rather than AT customers ENERGISE2-0.COM
    8. 8. Be SocialNew ‘mindsets’ arerequired to be successful insocial media ‘BE SOCIAL BEFORE DOING SOCIAL’ ENERGISE2-0.COM
    9. 9. The rules of the game have changedThe 5 key things to remember about Social Media ENERGISE2-0.COM
    10. 10. 1. It’s a RevolutionA fundamental and revolutionary changein online behaviour, expectations andthe online customer experience.The end of the ‘read only’ internetContent generated by the network forthe networkWe are no longer passive consumers ofcontent/brand messages ENERGISE2-0.COM
    11. 11. Social Media Revolution ENERGISE2-0.COM
    12. 12. The Social Customer ENERGISE2-0.COM
    13. 13. 2. It’s SocialA conversationnot a broadcastplatformConversations are takingplace relevant to yourbrand – are you listening? ENERGISE2-0.COM
    14. 14. 3. Power ShiftSocial media empowerscustomers, empowers the network We no longer control the brand The brand becomes the customer experience of the brand – experiences that are widely shared online ENERGISE2-0.COM
    15. 15. ENERGISE2-0.COM
    16. 16. 4. Declining EffectivenessDeclining effectiveness of traditionalapproaches to sales and marketingDoes anyone listen any more?We are no longer passive sheepwaiting to be ‘driven’ to your web siteIf you treat us like sheep, we will tell youto ‘flock off’. ENERGISE2-0.COM
    17. 17. We are not suspects ENERGISE2-0.COM
    18. 18. 5. The End of Business as UsualNew ‘mindsets’, new businessapproaches and new performancemeasures are requiredNOT a broadcast medium. Itsabout listening to and engagingwith customers, partners, yourcommunity, your tribeThis is something we are not verygood at doing. We prefer tellingpeople how good we are ENERGISE2-0.COM
    19. 19. The End of Business as Usual‘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 ENERGISE2-0.COM
    20. 20. New Performance Measures• Business success depends on the quality of your customer base; the strength of the relationship you have with quality customers; and your ability to leverage that relationship• In a social media era, business success depends on the – Quality of your network – Relationship strength – Ability to leverage The 6Is Approach ENERGISE2-0.COM
    21. 21. Performance Measurement  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  Insight – customer insight  Impact – business impactSocial Media Monitoring Tools –Audit, Assess, Impact ENERGISE2-0.COM
    22. 22. The ‘6Is’ Approach Insight and ImpactInfluence Involvement Intimacy Interaction ENERGISE2-0.COM
    23. 23. Bob Dylan Come gather round people Wherever you roam And don’t criticise What you cant understand Your sons and your daughters Are beyond your command Your old road is Rapidly agin‘ Then you better start swimmin’ Or youll sink like a stone For the times they are a-changin’ ENERGISE2-0.COM
    24. 24. Practical Adviceand Next Steps toAvoid the Road toNowhere‘Social Media Planning Pays’ ENERGISE2-0.COM
    25. 25. ‘Getting There’• Get more involved• Learn more• Develop a strategy• Implement• Monitor Performance and Business Impact Be Customer Led ENERGISE2-0.COM
    26. 26. Get more involved and learn more ENERGISE2-0.COM
    27. 27. A Workshop Near You….. ENERGISE2-0.COM
    28. 28. Another Workshop Near You..… ENERGISE2-0.COM
    29. 29. Develop a Strategy• What is the overall social media vision for your organization?• What are the key objectives and targets to be achieved?• Who are your customers?• What are the key actions and initiatives you need to take?• Organisation, resource and people issues ENERGISE2-0.COM
    30. 30. Key Questions to Address• What is the overall social media vision for your organisation?• What are the key objectives and targets to be achieved from social media? Are these fully aligned with and supportive of your overall business goals and objectives?• Who are your customers? Where do you find them ‘hanging out’ on social media? How can you best engage with them?• What are the main Social Media Actions and Initiatives you need to take – short, medium and longer term?• What generic social media strategy should you follow (number of channels used/ depth of engagement in each channel)? ENERGISE2-0.COM
    31. 31. Key Questions to Address• For each priority Social Media Channel, what are your core objectives for that channel; what KPIs will be used for measuring on-going channel performance; what are your targets for each KPI; what key tasks are needed to achieve these targets?• Do we have the right organisational ‘culture’ and ‘mindset’ for Social Media? ‘Be social before doing social! Is the right organisational and decision-making structure in place?• Has agreement been reached on resource allocation?• Who will be responsible for your social media activities? What balance has been agreed between internal and external roles and responsibilities? ENERGISE2-0.COM
    32. 32. Key Questions to Address• Who is the Social Media Champion?• Do you have agreed Social Media Policies and Guidelines in place covering ‘Proper Use’, ‘Content Management’, ‘Customer Response Times/Quality’ and ‘Legal’ aspects?• Performance evaluation and business impact ENERGISE2-0.COM
    33. 33. Potential Business Benefits of Social Media ENERGISE2-0.COM
    34. 34. Business Benefits• Market Knowledge• Customer Insight and Understanding• Customer Interaction• Enhanced Customer Experience• Business Intelligence• Reputation Management ENERGISE2-0.COM
    35. 35. Business Benefits• Improved Sales and Marketing• Identify and network with high value, high growth prospects• Product Development and R&D e.g. engage and co-create• Internal cost savings• Improved Operations and Internal Processes• Increased ROI ENERGISE2-0.COM
    36. 36. Potential Business Benefits5 main areas:• 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) ENERGISE2-0.COM
    37. 37. ‘Be Customer Led’ ENERGISE2-0.COM
    38. 38. Be Customer Led• Who are our customers, community, tribe?• Where do they hang out in social media?• How can we best use Social Media to deliver an exceptional customer experience at all stages of the customer life cycle? ENERGISE2-0.COM
    39. 39. www.mashable.com ENERGISE2-0.COM
    40. 40. Who Are Your Customers?• Your Social Media Strategy should be aimed at building a ‘quality’ customer base i.e. a strong online network of high value, high growth potential customers providing your company with a strong foundation for achieving sustained growth and profitability• First step: – Undertake a detailed Customer Mapping and Segmentation Analysis to identify your ‘Most Valuable’ and ‘Most Growable’ customers (actual and potential) ENERGISE2-0.COM
    41. 41. Strategically position your customerson a Customer Value Matrix based on Customer Attractiveness Probability of Success
    42. 42. Customer Value Matrix
    43. 43. Strategic Implications
    44. 44. Quality Customer Growth Programme
    45. 45. Business Benefits of this Approach• Concentration of effort and resource on `quality’ customers – your ‘Most Valuable’ and ‘Most Growable’ customers• Improved value delivery to existing high value customers. Build learning relationships with them allowing you to better service their emerging needs and wants through highly customised and personalised products and services• Maximise customer retention, loyalty and advocacy; ‘Up’ and ‘Cross’ selling opportunities• Maximise customer profitability and lifetime value ENERGISE2-0.COM
    46. 46. Business Benefits of this Approach• Acquiring new `quality’ customers becomes easier because you have got it right for existing customers• Cost savings and improved marketing/sales efficiency through targeting limited resources on `quality’ customers (actual and potential)• Building sustained customer and competitive advantage through customer differentiation and brand advocacy• Erection of loyalty barriers preventing your competitors from stealing your `best’ customers ENERGISE2-0.COM
    47. 47. Social Media Monitoring ENERGISE2-0.COM
    48. 48. Monitoring the Conversations• Use Social Media Monitoring Tools to identify where your customers ‘hang-out’ online and to monitor the conversations relevant to your brand – also for measuring the ‘buzz’ about your brand• No or low cost tools such as Google Alerts, Yahoo Pipes, Social Mention, Topsy, IceRocket, Blogscope, Blogpulse and ViralHeat• More expensive and sophisticated tools such as Radian6, Alterian SM2, Sysomos Heartbeat and Infegy SocialRadar ENERGISE2-0.COM
    49. 49. Social Media Monitoring ENERGISE2-0.COM
    50. 50. The Customer Experience Use Social Media to enhance thecustomer experience at all stages of the Customer Life Cycle ENERGISE2-0.COM
    51. 51. Customer Lifecycle ENERGISE2-0.COM
    52. 52. In Summary……..‘Social Media Planning Pays’ ENERGISE2-0.COM
    53. 53. Thank You Questionswww.energise2-0.com ENERGISE2-0.COM

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