RFC Social Media Presentation, 2nd August, 2011
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Social Media Presentation, RFC Business Club, 2nd August, 2011

Social Media Presentation, RFC Business Club, 2nd August, 2011

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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.

RFC Social Media Presentation, 2nd August, 2011 RFC Social Media Presentation, 2nd August, 2011 Presentation Transcript

  • Social Media for Sustained Business Growth
    Dr Jim Hamill – jim.hamill@energise2-0.com
    Alan Stevenson – alan.stevenson@energise2-0.com
    Vincent Hamill – hamillvincent@energise2-0.com
    www.energise2-0.com
  • A conversation
    not a broadcast
    presentation
  • Agenda
    Questions?
    Videos
    Key things to remember about SM
    ‘Getting There’….
    Even more questions….
    RFC Social Media Strategy
  • Questions About Social Media?
  • Two Videos
    The Social Media Revolution
    The Advertiser/Customer Break-Up
    Ask yourself – So What?
    Implications for my business?
    Implications for RFC?
  • Social Media Revolution
  • Advertising – Customer Breakup
  • Key Things to Remember
    About Social Media
  • Key Things to Remember
    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
    Conversations are taking place relevant to your business
    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?
  • Do You Listen?
    Source: The Future of Advertising, APA, 17/02/09 as published on Slideshare (www.slideshare.com)
  • Do You Listen?
  • The Customer Manifesto
  • What is Social Media?
    NOT a broadcast medium. Its about listening to and engaging with customers, partners, your community, your tribe
    This is something we are not very good at doing. We prefer telling people how good we are
  • The Customer Manifesto
    We are not sales suspects,
    prospects or leads
    We do not want to be converted
    We are people.
    We are your customers and
    we are King! Social media
    empowers us. We control the
    Information Age.
    Welcome to our world, not yours
  • The Customer Manifesto
    Don’t treat us like passive sheep
    waiting to be driven to your web site or blog
    Use social media to deliver exceptional
    Customer Experiences
    That way, we will become brand
    advocates and ‘spread the word’ for you
    Our network will listen more to us than you
  • Key Things to Remember
    Pull v push
    Consumers/users decide what information they wish to access
    New ‘mindsets’ are required
    Marketing as a conversation with your customers/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
  • Key Things to Remember
    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
    Social media monitoring/performance management tools
    The need for new business/marketing models
  • 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 impact
    Social Media Monitoring Tools –Audit, Assess, Impact
  • The ‘6Is’ Approach
    19
  • Key Things to Remember
    The need for new business/marketing models
    Traditional approach:
    Product development – Differentiate – Market and Promote - Sell
    New model based on:
    Communities, networks, openness, peering, sharing, collaboration, customer empowerment, ‘think and act’ globally
    Engage and energise
    ‘Create the Buzz’
  • Definition of
    stupidity?
  • State-of-Play
    What progress is being made?
  • Social Media: The State of Play
    Where are we?
    Where are we going?
  • Progress Being Made
    Interest and enthusiasm among tourism businesses is growing rapidly - channels are being set up
    Fall into three main groups in terms of progress made
    Progressive Adopters
    Cautious/ Experimental Adopters
    Non Adopters
  • Progress Being Made
    While some good progress is being made, there is a need for a more ‘strategic’ approach
    Clear social media vision and strategy, agreed objectives, KPIs, targets, ROI and on-going performance measurement
    More attention needs to be paid to organization, people, resource issues critical to on-going SM success
    • Social Media Planning Pays
  • ‘Getting There’
  • ‘Getting There’
    Get More Involved
    Google Alerts, Twitter, Social Media Monitoring Tools
    Learn more
    Develop a strategy
    Implement
    Monitor
  • Social Media
    Development Cycle
  • SM Development Cycle
  • Each Step is being covered in detail on our blog at
    www.energise2-0.com
  • 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 Key Questions
    to Address
  • www.energise2-0.com
  • Evaluate Your Social Media Landscape
    Monitor and evaluate the social
    media landscape for your business
    Help decide the best generic strategy
    to follow in terms of the number of
    channels used and your depth of
    engagement in each channel
    Key questions to address include……..
  • Evaluate Your Social Media Landscape
    What impact is social media having on your industry, how important has it become?
    How are your customers using social media? What impact is it having on customer behaviour?
    What online conversations are taking place relevant to your business; who is saying what about your brand/ industry where online and what sentiments are being expressed? How should you respond?
    What are the key features and characteristics of social media that you need to understand
    Based on the above, what social media applications are most relevant to your business and how deep does your level of engagement need to be?
    Use Social Media Monitoring Tools………
  • Monitoring the Conversations
    Use Social Media Monitoring Tools to monitor online 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 InfegySocialRadar
  • Social Media Monitoring Tools
  • Internal Audit and ‘Readiness to Engage’
    Your Internal Social Media Audit evaluates progress made, benchmarked against agreed criteria. Key questions to address include:
    What progress have we already made in social media?
    What channels do we already use?
    What is our current level of engagement with each channel?
    What positive business benefits have we derived from our social media activities?
    Where are the main areas for future improvement?
    Benchmark existing progress against the opportunities presented by your Social Media Landscape; against industry ‘Best Practice’; agreed performance measures and targets
    The ‘Strategic Gap’ (i.e. the ‘Gap’ between where you are and where you should be) provides a very strong basis for future social media strategy development
  • Internal Audit and ‘Readiness to Engage’
    Supporting the Internal Audit
    of progress made, you should
    also undertake an evaluation
    of your organisation’s
    ‘Readiness to Engage’,
    evaluating your social media
    strengths and weaknesses,
    the main barriers and
    obstacles to be overcome
  • Social Media Strategy
    and Action Plans
  • Social Media Strategy and Action Plans
    Use a simplified Balanced Scorecard approach to social media strategy development and implementation
    Will ensure that your future social media actions and initiatives are fully aligned with and supportive of agreed business goals; that KPIs are agreed for evaluating on-going social media performance, business impact and ROI; and that all key success factors are considered, including organization, people and resource aspects
  • 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
  • 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)?
  • 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?
  • 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?
  • Social Media Strategy Map
  • Potential Business Benefits
    of Social Media
  • Business Benefits
    Market Knowledge
    Customer Insight and Understanding
    Customer Interaction
    Enhanced Customer Experience
    Business Intelligence
    Reputation Management
  • 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
  • Potential Business Benefits
    5 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)
  • ‘Be Customer Led’
  • Be Customer Led
    Who are our customers, community, tribe?
    Where do they hang out in social media?
    How can we best engage with and energise them?
  • www.mashable.com
  • Action Plans
    Key issues in implementing your
    social media strategy
    Channel Action Plans
    Performance Measurement
  • Channel Action Plans
    Once your Social Media Strategy has been agreed, brief Action Plans should be developed for each priority SM channel
    Cascade the Balanced Scorecard approach to each priority channel e.g. Twitter, Facebook, Linkedin etc
    But not ‘Paralysis by Analysis’
    The Action Plan for each channel should include a clear statement of…..
  • Channel Action Plans
    Vision
    Channel Objectives
    KPIs and Targets
    Customers
    Key Channel Actions and Initiatives for ‘getting there
    Organisation, resource and people issues
    Tools and applications
    Performance measurement
    Do’s and Don’t’s
  • Performance Measurement
    To ensure that your Social Media activities deliver high ROI, it is important to monitor, measure and evaluate your social media performance on an on-going basis. Key questions to address:
    What social media performance measures and KPIs should be used – both in terms of the overall ‘buzz’ created and measures for individual channels?
    What tools/software will be used to assist performance measurement?
    What reports will be produced, for who and how frequently?
  • Performance Measurement
    Should be undertaken at three main levels:
    Individual social media channels
    Overall ‘buzz’
    Business Impact
    Using the 6Is approach
  • Organization, Resource and People Issues
    Organization, resource and people issues sit at the bottom of your SM Balanced Scorecard NOT because they are the least important issues to address. In fact, the exact opposite is true. The success of your social media strategy is very much dependent upon appropriate decisions being made in the areas listed below:
  • Organization, Resource and People Issues
    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?
    Do you have agreed Social Media Policies and Guidelines in place covering ‘Proper Use’, ‘Content Management’, ‘Customer Response Times/Quality’ and ‘Legal’ aspects?
  • What is Social Media?
    New ‘mindsets’ are required to be successful in social media
    ‘BE SOCIAL BEFORE
    DOING SOCIAL’
  • In Summary……..’Social Media
    Planning Pays’
  • 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’
  • Thank You
    Questions
    www.energise2-0.com
  • About Energise 2-0
    Provide an integrated range of social media services for building sustained business growth and profitability, delivered to the very highest international standards and fully customised for your business
  • Mastering Social Media Programme
  • RFC Social Media Strategy
  • Objectives
    Information, communications, news
    Fan engagement/dialogue
    Marketing efficiency and effectiveness
    Global reach
    …………………..
  • Three Main Initiatives
    Facebook
    Linkedin
    Twitter
  • Facebook
  • 30,518 ‘likes’ since 11th July
  • Insights
  • Demographics
  • Views/Interaction
  • Linkedin
  • Twitter – coming soon