Getting the Most Out of Social Media


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Presentation delivered at the 'Falkirk for Business Annual Conference', 23rd September 2011

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Getting the Most Out of Social Media

  1. 1. Getting the Most Out of Social Media <br />Falkirk for Business<br />Annual Conference, 2011<br />Dr. Jim Hamill <br />Alan Stevenson<br />Vincent Hamill<br /><br />23rd September, 2011<br />
  2. 2. Key Success Factors <br />and Practical Tips<br />
  3. 3. Social Media: The State of Play<br />Where are you in terms of <br />social media?<br />Where are you going?<br /><ul><li>Social Media Planning Pays</li></li></ul><li>Practical Advice<br />and Next Steps to <br />Avoid the Road to <br />Nowhere<br />
  4. 4. Without Planning……..<br />
  5. 5. ‘Getting There’<br />Get More Involved<br />Listen, Monitor, Learn<br />Develop a Strategy<br />Implement<br />Monitor the performance<br />Discussed in more detail on our blog –<br />
  6. 6. Get More Involved<br />Audit/benchmarked existing progress<br />Build your social media presence<br />Linkedin, Twitter, Blog, Facebook Page, <br />Google + etc<br />Monitor the conversations<br />Identify, join, lurk in relevant groups/forums<br />Join the conversations<br />
  7. 7. Listen, Monitor, Learn <br />NOT a broadcast medium. Its about listening to and engaging with customers, partners, your community, your tribe <br />This is something we are not very good at doing. We prefer telling people how good we are<br />
  8. 8. Monitoring the Conversations<br />Use Social Media Monitoring Tools to <br />develop ‘actionable insights’ from the <br />online conversations taking place relevant <br />to your brand – also for measuring <br />‘online brand buzz’<br />No or low cost tools such as Google Alerts, Yahoo Pipes, Social Mention, Topsy, IceRocket, Blogscope, Blogpulse and ViralHeat<br />More expensive and sophisticated tools such as Radian6, Alterian SM2, Sysomos Heartbeat and InfegySocialRadar<br />
  9. 9. Social Media Monitoring <br />
  10. 10.
  11. 11.
  12. 12. Falkirk Wheel<br />
  13. 13.
  14. 14. You can develop your own customised Social Media Monitoring System using <br />RSS Feeds<br />
  15. 15. Our Own System<br />
  16. 16. Social Media Planning Pays<br />Develop a Strategy<br />
  17. 17. Social Media Strategy Development<br />Ensure that your social media efforts are:<br />are fully aligned with and supportive of your overall business goals and objectives<br />that KPIs are agreed for monitoring and evaluating social media performance, business impact and ROI<br />all key success factors are considered, especially the organization, people and resource aspects critical to successful strategy implementation<br />Five Key Questions to Address<br />
  18. 18. Key Questions<br />What is the overall social media vision for your organization?<br />What are the key objectives and targets to be achieved?<br />Who are your customers?<br />Key Actions and Initiatives<br />Organisation, Resource and People Issues<br />
  19. 19. ‘Be Customer Led’<br />
  20. 20. Be Customer Led<br />Who are our customers, community, tribe?<br />Where do they hang out in social media?<br />How can we best engage with and energise them?<br />
  21. 21.<br />
  22. 22. Implement<br />
  23. 23. Be Social<br />New ‘mindsets’ are required to be successful in social media<br />‘BE SOCIAL BEFORE <br />DOING SOCIAL’<br />
  24. 24. A conversation<br />not a broadcast <br />platform<br />
  25. 25. Some Don’t Get It<br />
  26. 26. Channel Action Plans<br />Vision<br />Channel Objectives<br />KPIs and Targets<br />Customers<br />Key Channel Actions and Initiatives for ‘getting there<br />Organisation, resource and people issues<br />Tools and applications<br />Performance measurement<br />Do’s and Don’t’s<br />
  27. 27. Performance <br />Measurement<br />
  28. 28. Performance Measurement<br />New performance measures<br />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<br />In a social media era, business success depends on the <br />Quality of your network<br />Relationship strength<br />Ability to leverage<br />
  29. 29. Performance Measurement <br /><ul><li>Involvement – network/community numbers/quality, time spent, frequency, geography
  30. 30. Interaction – actions they take – read, post, comment, reviews, recommendations
  31. 31. Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc
  32. 32. Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking
  33. 33. Insight – customer insight
  34. 34. Impact– business impact</li></ul>Social Media Monitoring Tools –Audit, Assess, Impact<br />
  35. 35. The ‘6Is’ Approach<br />31<br />
  36. 36. Monitor and Measure<br />To ensure that your SM strategy delivers a return on investment, it is important to monitor and evaluate on-going performance benchmarked against agreed objectives, KPIs and targets<br />Performance evaluation should be undertaken at three main levels…<br /> <br />
  37. 37. Monitor and Measure<br />Individual Channel Performance<br />the effectiveness/success of each channel benchmarked against agreed targets for the ‘4Is’ i.e. Involvement, Interaction, Intimacy and Influence<br />most channels provide easy to access statistics for measuring each ‘I’ to a very high degree of accuracy<br /> <br />
  38. 38. Facebook Insights<br />
  39. 39. Facebook Insights<br />
  40. 40. Monitor and Measure<br /> <br />Wider Social Media Performance<br />the overall ‘buzz’ being created<br />volume of mentions, trends over time, which channels are driving your buzz, who is taking your message further, through which channels, and what affection or affinity they are showing, and so on <br />
  41. 41. Merchant City, Glasgow<br />
  42. 42. Monitor and Measure<br />Underlying Business Performance<br />the performance of each social media channel and the overall ‘buzz’ created are ‘lead’ rather than ‘lag’ measures<br />in a social media era, they are the main ‘drivers’ of future business performance<br />the final level of performance monitoring, therefore, is linking your social media activity to overall business goals and objectives e.g. enquiries, sales, customer loyalty, marketing effectiveness/efficiency/ROI. Is social media achieving your ultimate business objectives i.e. ‘lag’ measures? <br />
  43. 43. Bob Dylan<br />Come gather 'round people<br />Wherever you roam<br />And don’t criticise<br />What you can't understand<br />Your sons and your daughters<br />Are beyond your command<br />Your old road is<br />Rapidly agin‘<br />Then you better start swimmin’<br />Or you'll sink like a stone<br />For the times they are a-changin’<br />
  44. 44. Thank You<br />Questions<br /><br />