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6th European CMO Conference: Gain sustainable business value from social media
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6th European CMO Conference: Gain sustainable business value from social media

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Presentation at the 6th European CMO Conference in Zurich, 4th October 2013, focused on the theme ''Hardwire: marketing that delivers against goals''. The presentation focused on how marketing teams ...

Presentation at the 6th European CMO Conference in Zurich, 4th October 2013, focused on the theme ''Hardwire: marketing that delivers against goals''. The presentation focused on how marketing teams should link social media initiatives to business goals for sustainable returns.

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    6th European CMO Conference: Gain sustainable business value from social media 6th European CMO Conference: Gain sustainable business value from social media Presentation Transcript

    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Gain sustainable business value from social media Kamales Lardi, Lardi & Partner Consulting GmbH @kamlardi 4th October 2013
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social media killed the marketing star… …not really!
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social media is a different way to reach, engage & interact with customers Social media Media Advertising Direct Marketing Personal Selling Event Marketing Mobile Web / Digital Search Sales & Promotion
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media has become an integrated part of marketing Source: BIA/Kelsey Source: Neilsen & Media Bistro
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media is applicable across the business value chain • Collaboration and communication • Competitive intelligence • Knowledge capture & transfer • Project management • Process transparency & distribution • Crowdsource quality control Business Support Operations • Innovation management • New product /servie ideas • Crowdsource feedback • Co-creation • New product reviews Product Development • Forecast & monitoring • Distribution or supplier engagement • Transparent sourcing Operations & Distribution • JIT purchasing system • Transparent procurement Procurement • Social customer relationship management • Customer support • Community building • Customer feedback Customer Service • Lead generation • Social media marketing • Online customer insights • Ambassador or custoemr engagement • Social branding • After-sales experience enhancements • Social sales • Crowdsource research • Crisis management • Reputation risk management • JIT pricing Sales & Marketing • Innovative talent acquisition • Talent management • Social recruiting • Research • Employee engagement Human Resources
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media does this sound familiar to you? Company X Social Media  Social media accounts set up  Decent # of followers / likes  Content calendar for next 6 months  Metrics measured: Engagement, likes, retweets, views     …. Now what?? Business value? Potential vs. risks? RoI? Next steps?
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media addressing your challenges As a result, social media initiatives… • have no impact on business goals • demonstrate poor sustainable RoI • do not secure leadership buy-in • are unable to secure investment • stay at exploration stage Business Goals Departmental Goals Social Media Goals Social Media Tactics Social Media Metrics Strategic Metrics ...but they should be here! Many companies are here... Social Media Strategy Funnel
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media create sustainable value for your business Social Media Initiatives Business Goals
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media Strategy Framework
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media how ready is your company? Stages of Maturity ValueCreation • Aware of Social Media but not used for business • No or only information monitoring • Aware of Social Media & impact on business • Monitor relevant online conversations & analyze for key messages • Able to participate in customer online conversations • Identified key Social Media channels to communicate brand message • Brand message tells company story • Structure to respond to customers set up • Embedded in existing customer service channels • Employees actively involved or encouraged • Actively participating in Social Media • Contribute value through content • Social Media channels contribute to strategic objectives Maturity Assessment Tool: http://www.lardipartner.com/smma/ Source: LPC point of view, 2012
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Social Media hardwiring social media initiatives to business goals Source: LPC point of view, 2013 Business Goals Departmental Goals Social Media Goals Social Media Tactics Social Media Metrics Strategic Metrics • Share a mix of relevant links, engaging content, videos on Facebook • Identify LinkedIn groups to follow & participate • Update bloggers regularly on new thought leadership & products • Generate revenue • Generate new leads EXAMPLES • Total new net revenue • # new customer acquisition • # new leads generated • # of page visits • # of followers / retweets / posts / views • # of clicks-throughs / referrals to website • Understand, identify & engage potential customers • Expand reach of thought leadership & products • Engage & excite key influencers
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Define business goals Define social media goals Link social media goals to business goals Define social media tactical plan Determine social media adoption Determine target social media adoption Gap assessment & focus areas Section 2: Visioning Section 1: Tying to business goals DETERMINE OBJECTIVES & READINESS IDENTIFY INITIATIVES & PRIORITISE PHASE 1 – DEVELOP STRATEGY Activity hardwiring social media initiatives to business goals This is a simplified view of some steps in the Social Media Strategy framework. Today, we will cover the first three steps in Section 1, as above. A complete description of the approach can be found in the Social Media Strategy book.
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC ‘’We don’t have a choice on whether we DO social media, the question is how well we DO it’’ - Erik Qualman, Author of Socialnomics
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC Thank you @KamLardi ch.linkedin.com/in/kamaleslardi slideshare.net/kamalesn xing.com/profiles/Kamales_Lardi lardistrategy.com
    • Confidential. Do not copy or re-distribute ©LPCConfidential. Do not copy or re-distribute ©LPC