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Leveraging Social Media to Increase Brand Awareness and Drive Leads
 

Leveraging Social Media to Increase Brand Awareness and Drive Leads

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I presented this pitch at the Portal Excellence Conference in Chicago - July 19, 2010 along with Brian Cheng. The abstract is as follows: ...

I presented this pitch at the Portal Excellence Conference in Chicago - July 19, 2010 along with Brian Cheng. The abstract is as follows:

Although anyone can set up a twitter account, create a Facebook fan page, or start a new YouTube channel in a matter of minutes, it takes significantly more effort to maintain and refresh the content on these sites. Even more effort must be invested to ensure the sites are consistent with your organization’s brand and key messages. How do you know if the time invested in social media is worth the effort? In this session, we will discuss the various ways to leverage social media to positively impact your business. We will start by describing the benefits of social media done right and the challenges of social media efforts gone astray. Next, we will both discuss and demonstrate the benefits of syndicating content, which reduces costs while maintaining brand consistency. We will also describe and show some of the key metrics you should track in order to understand the ROI of your social media efforts, as well as the various analytics tools required for this task. Finally, we will cover some tips on how to deal with potential issues as you embark on your social media strategy.

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    Leveraging Social Media to Increase Brand Awareness and Drive Leads Leveraging Social Media to Increase Brand Awareness and Drive Leads Presentation Transcript

    • 2010 Exceptional Web Experience Session Code: BUS-G02 Session Title: Leveraging Social Media to Increase Brand Awareness and Drive Leads Speaker 1: Nicole Carrier, Program Director, IBM Speaker 2: Brian Cheng, Technical Product Manager, IBM IBM Portal Excellence Conference July 19 – 22, 2010 Chicago, Illinois © 2010 IBM Corporation
    • 2010 Exceptional Web Experience Conference Agenda • Social Media in 5 Minutes – What and Why • Benefits of Social Media Done Right • Top Social Media Mistakes • Measuring the Effects of Social Media • Tips for Leveraging Social Media to Positively Influence Your Business IBM Portal Excellence Conference July 19 – 22, 2010 2
    • 2010 Exceptional Web Experience Conference Agenda • Social Media in 5 Minutes – What and Why • Benefits of Social Media Done Right • Top Social Media Mistakes • Measuring the Effects of Social Media • Tips for Leveraging Social Media to Positively Influence Your Business IBM Portal Excellence Conference July 19 – 22, 2010 3
    • 2010 Exceptional Web Experience Conference What is Social Media? Social Media - Internet-based applications that support the creation and exchange of user-generated content. Source: http://upload.wikimedia.org/wikipedia/en/1/14/Theconversationprism.jpg IBM Portal Excellence Conference July 19 – 22, 2010 4
    • Why Social Media? Reason Web Experience Conference 2010 Exceptional 1: FishWhere the Fish Are Fish Where the Fish Are IBM Portal Excellence Conference July 19 – 22, 2010 5 Photo by Dachalan : http://www.flickr.com/photos/54945394@N00/2425862349/sizes/l/
    • 2010 Exceptional Web Experience Conference 2 BILLION Tweets Per month 65 Million Tweets Per Day Source: http://www.pcmag.com/article2/0,2817,2364793,00.asp Photo Source: http://www.flickr.com/photos/buzzbishop/3323389892/sizes/o/ Data Source: http://mashable.com/2010/06/08/twitter-hits-2-billion-tweets-per-month/ 6 IBM Portal Excellence Conference July 19 – 22, 2010
    • 2010 Exceptional Web Experience Conference Every Day, 2 BILLION videos are watched and hundreds of thousands of videos are uploaded. Youtube is the 2nd most popular search engine in the world. Source: http://www.youtube.com/t/fact_sheet Source: http://www.nytimes.com/2010/05/17/technology/17youtube.html?_r=1&th&emc=th 7 IBM Portal Excellence Conference July 19 – 22, 2010
    • 2010 Exceptional Web Experience Conference Facebook Statistics:  More than 400 million active users (This would make Facebook the world's 3rd most populated country)  ½ of these users log in every day  Users spend 8.3 Billion Hours a month on Facebook  More than 25 billion pieces of content are shared a month Source: http://www.facebook.com/press/info.php?statisticst 8 IBM Portal Excellence Conference July 19 – 22, 2010
    • 2010 Exceptional Web Experience Conference Globally, 75% of Internet Users visited a social media site in April 2010, spending 22% of their online time. Facebook users spend, on average, over 6 hours per month on the site. Source: http://www.soravjain.com/2010/06/social-media-usage-increased-by-3-hours.html IBM Portal Excellence Conference July 19 – 22, 2010
    • Why Social Media? Reason Web Experience Conference 2010 Exceptional 2: Fish Where the Fish Are Keep Pace with the Competition IBM Portal Excellence Conference July 19 – 22, 2010 10 Photo by Gerry Balding : http://www.flickr.com/photos/8929612@N04/3727390636/sizes/l/
    • 2010 Exceptional Web Experience Conference Social Media spend projected to be 17.7% of the marketing budget within 5 years 86% of companies plan to spend more money on social media in 2010. 13% are keeping the same budget. Source: http://www.marketingprofs.com/charts/2010/3456/cmos-to-ramp-up-hiring-budgets-double- Source: http://www.marketingcharts.com/interactive/86-of- social-media-spend companies-plan-social-media-budget-bumps-11248/ 11 IBM Portal Excellence Conference July 19 – 22, 2010
    • Why Social Media? Reason Web Experience Conference 2010 Exceptional 3: Participate in the Conversation IBM Portal Excellence Conference July 19 – 22, 2010 12 Photo Phil H: http://www.flickr.com/photos/hi-phi/64055296/sizes/l/
    • 2010 Exceptional Web Experience Conference 25% of search results for the world's Top 20 Largest brands are links to user generated content. 90% of consumers online trust recommendations from people they know. 70% trust opinions of unknown users. Only 14% trust advertisements. Source: http://socialnomics.net/2009/08/11/statistics-show-social-media-is-bigger-than-you-think/ Source: Econsultancy, July 2009 Photo Source: http://www.flickr.com/photos/tranchis/3708549622/ IBM Portal Excellence Conference July 19 – 22, 2010 13
    • Why Social Media? Reason Web Experience Conference 2010 Exceptional 4: Positively Impact Your Business IBM Portal Excellence Conference July 19 – 22, 2010 14 Photo Phil H: http://www.flickr.com/photos/hi-phi/64055296/sizes/l/
    • 2010 Exceptional Web Experience Conference Brands most engaged in Social Media WAY Outperformed brands with the lowest engagement Revenue Growth % (last 12 months) Companies with highest levels of Social Media 20 Engagement 17.5 15 12.5 10 18% 7.5 5 Companies with lowest 2.5 levels of Social Media Engagement 0 -2.5 -6% -5 -7.5 Row 1 Source: http://www.engagementdb.com/downloads/ENGAGEMENTdb_Report_2009.pdf IBM Portal Excellence Conference July 19 – 22, 2010 15
    • 2010 Exceptional Web Experience Conference Agenda • Social Media in 5 Minutes – What and Why • Benefits of Social Media Done Right • Top Social Media Mistakes • Measuring the Effects of Social Media • Tips for Leveraging Social Media to Positively Influence Your Business IBM Portal Excellence Conference July 19 – 22, 2010 16
    • 2010 Exceptional Web Experience Conference How Social Media Can Positively Impact Your Business Functional Area Benefits Marketing • Capture attention, generating new leads and driving traffic • Improve brand perceptions / reputation and loyalty • Drive awareness • Improve Search Engine Optimization • Foster brand fans • Reduce marketing costs Customer Support • Provide better customer experience and care • Reduce support costs • Help retain customers Sales • Generate revenue • Help close business R&D ● Capture new idea from the community PR ● Generate exposure for the business ● Provide real-time communication in times of crises Finance ● Help reduce costs (marketing, customer service, recruiting) HR ● Help recruit IBM Portal Excellence Conference July 19 – 22, 2010 17
    • 2010 Exceptional Web Experience Conference Social Media – Positive Impact on Customer Service • Why use social media for customer service? Better Customer Care • More personalized experience (can lead to greater brand awareness) • Listen - discover and resolve problems before they spin out of control • Rapid problem resolution • Reduce costs • Community can help answers problems • Cost per interaction in customer support averages $12 via the contact center versus $0.25 via self-service options. (Forrester, 2006) • Examples to emulate: Brands that successfully leverage social media for customer service • TurboTax – Twitter @TeamTurboTax and hosted community called “Live Community”. Average response time on twitter – 4 minutes • Comcast - http://twitter.com/comcastcares. Frank Eliason. • Whole Foods -http://twitter.com/wholefoods. 1.78 million followers. • Lenovo – 20% reduction in call-center activity in US over 6 months because ~50k customers go to its community website for information about laptops • BestBuy - twitter twelpforce. As of 5/2010, there were over 2600 team members answered 28k questions so far. Ave time to answer – 12 minutes or less. Sources: turbotax - http://smartblogs.com/socialmedia/2010/07/07/turbotax-tackles-twitter-becoming-a-service-all-star/ best buy - http://www.thesocialcustomer.com/Home/17110 Forrester data - http://www.readwriteweb.com/archives/social_media_roi_dells_3m_on_twitter_and_four_bett.php IBM Portal Excellence Conference July 19 – 22, 2010 18
    • 2010 Exceptional Web Experience Conference Social Media – Positive Impact on Revenue As of 12/09, Dell revealed that they 73.8% of marketers who made over $6.5 million on Twitter. have been using social Source: http://community.brandrepublic.com/blogs/gordons_republic/archive/2009/12/08/dell-has- made-6-5m-out-twitter.aspx media for years report it helped them close In 2010, 80% of CMOs predict social business (12% increase media will have up to 5% impact on from 2009) revenue. 15% say a 5-10% impact Source: 2010 Social Media Marketing Industry Report. http:// marketingwhitepapers.s3.amazonaws.com/ http://www.marketingprofs.com/charts/2009/3274/cmos-want-measurable-results-from-social-media SocialMediaMarketingReport2010.pdf. IBM Portal Excellence Conference July 19 – 22, 2010 19
    • 2010 Exceptional Web Experience Conference Social Media – Positive Impact on Innovation • Leverage communities as an early, focused research group • Drive new ideas through crowdsourcing or by simply listening Dell's IdeaStorm – Over 14k ideas. Over My Starbucks Idea– Over 80k ideas. 400 implemented. Over 90 implemented. IBM Portal Excellence Conference July 19 – 22, 2010 20
    • 2010 Exceptional Web Experience Conference DEMO! IBM Portal Excellence Conference July 19 – 22, 2010 21
    • 2010 Exceptional Web Experience Conference Agenda • Social Media in 5 Minutes – What and Why • Benefits of Social Media Done Right • Top Social Media Mistakes • Measuring the Effects of Social Media • Tips for Leveraging Social Media to Positively Influence Your Business IBM Portal Excellence Conference July 19 – 22, 2010 22
    • 2010 Exceptional Web Experience Conference Top Social Media Mistakes • Not investing in social media due to fear or feelings that 'our customers don't use it' • Social media is not just a waste of time and it is not just for marketing. It can be a valuable customer service and communication tool. • Dec 19, 2009 – Eurostar train got stuck in a tunnel for 15+ hours. PR disaster - “case study in horrible communications.” Eurostar didn't even own @eurostar twitter account. • Jumping in full force – across all channels – with... • No objectives • No measurement / ways to know what works and what doesn't work • No work done to target the right audiences and the right channels for those audiences • No idea of the investment / opportunity cost of social media efforts (it is not free!) • Lack of consistency in branding and messaging • “Spamming” communities - too heavy hand- turns users off IBM Portal Excellence Conference July 19 – 22, 2010 23
    • 2010 Exceptional Web Experience Conference Agenda • Social Media in 5 Minutes – What and Why • Benefits of Social Media Done Right • Top Social Media Mistakes • Measuring the Effects of Social Media • Tips for Leveraging Social Media to Positively Influence Your Business IBM Portal Excellence Conference July 19 – 22, 2010 24
    • 2010 Exceptional Web Experience Conference Measuring the Effects of Social Media – The Great ROI Debate The Social Media True Believer: The Social Media Sceptic: “If you are asking about ROI with Social Media, “I am not investing one cent into Social Media you don't 'get it'. Just relax and go with the flow!” until you can prove an ROI!” VS Photo source: http://www.flickr.com/photos/vramak/3567615703/sizes/m/ Photo source: http://www.flickr.com/photos/_davo_/4178404726/ IBM Portal Excellence Conference July 19 – 22, 2010 25
    • 2010 Exceptional Web Experience Conference Measuring the Effects of Social Media – Where to Begin? Step by Step suggestions for getting started: 1 Set objectives (business goals) and metrics (what you want to track). 2 Select the appropriate social media channels (based upon your goals and where you audience will likely be) 3 Establish a baseline for your business goals and set targets 4 Get started! 5 Measure, measure, measure. ● Don't go data crazy – track most meaningful metrics on a regular timeline that makes sense to your business ● Correlate to events and campaigns ● Graph progress over time 6 Analyze, refine, repeat IBM Portal Excellence Conference July 19 – 22, 2010 26
    • 2010 Exceptional Web Experience Conference Measuring the Effects of Social Media – What to Measure? Exposure Influence Engagement Conversions Core business • Brand mentions • Share of voice • @replies • Downloads • Ave order value • Fans / Friends • Sentiment • Bookmarks • Feedback • Cost savings • Churn rate • Followers • Social • Form filled out • Cost per lead mentions • Click-throughs • Impressions • Install widget • Cost per • Authority • Comments / support case • Press (+/-) post • Registered users • Profiles / members • Customer Contribution • Depth of visit • Request for info complaints / • Subscribers • Forward tickets opened • Posts • Views (video, • Sessions/ • Likes • Subscriptions • Call center images, ads) visitor • Linkbacks volume • Visits • Ratings • Customer Sat. • Questions • Visitors answered / • Retweets • Customers asked • Reviews • Loyalty • Visitor recency • Share • Tagging • Response time • Time spent • Revenue • Tot. contributors IBM Portal Excellence Conference July 19 – 22, 2010 27
    • 2010 Exceptional Web Experience Conference Measuring the Effects of Social Media – Example Objectives Channels Metrics Higher customer satisfaction Twitter Community - Members / subscribers Lower customer support costs Customer community - Questions asked and resolved More loyal customers Twitter - Click-throughs on links shared - Response time for replies Core - Customer support costs (or cost per case) - Customer complaints submitted / tickets opened - Call center volume - Customer satisfaction / Brand loyalty / customer sentiment IBM Portal Excellence Conference July 19 – 22, 2010 28
    • 2010 Exceptional Web Experience Conference Thoughts on ROI Calculations • ROI = (Gain from investment – Cost of Investment) / Cost of Investment • What goes into the calculation will probably vary by company and what they think is acceptable to measure • Calculating gain from investment • Don't forget to calculate the economic value of your social media efforts. For example: • Value of # of subscribers to your blog = cost per email for highly qualified list x # of subscribers • Cost reductions – e.g., no longer spending 20k per year on monthly publication or no longer spending x thousand on focus groups or reduced spending in PR or cut tv advertising or no more fancy produced datasheets • Savings in time • Some might measure awareness or customer satisfaction • Calculating cost of investment. Don't forget to measure... • Time invested (as long as consistent for all marketing activities) (# employees x hours/ year x ave employee cost / hr) • Cost for training employees • Cost of measurement tools • Technology costs (hardware and software) IBM Portal Excellence Conference July 19 – 22, 2010 29
    • 2010 Exceptional Web Experience Conference Measuring Effectiveness of Social Media Across All Campaigns • How do you determine which online marketing channels are most effective? • One way to do this - Coremetrics – Impression Attribution IBM Portal Excellence Conference July 19 – 22, 2010 30
    • 2010 Exceptional Web Experience Conference Example – Seton Hall and Coremetrics ● Social Sites drive a high % of new visitors ● FB visitors are motivated to convert ● Facebook visitors return frequently ● Watch the Coremetrics and Seton Hall Webinar: http://measure.coremetrics.com/ corem/regw/reg/social-media-analytics- webinar IBM Portal Excellence Conference July 19 – 22, 2010 31
    • 2010 Exceptional Web Experience Conference Agenda • Social Media in 5 Minutes – What and Why • Benefits of Social Media Done Right • Top Social Media Mistakes • Measuring the Effects of Social Media • Tips for Leveraging Social Media to Positively Influence Your Business IBM Portal Excellence Conference July 19 – 22, 2010 32
    • 2010 Exceptional Web Experience Conference Tip #1 – Invest in Social Media Monitoring • Social media/ perception monitoring (a.k.a reputation management or “listening”) – tools that allow you to monitor conversations on the social web for certain words or phrases. Some measure authority. More advanced tools measure sentiment and location. • A small investment in time could be worth a lot in terms of PR, disaster control, relationship building, and happier customers • For relevant messages, be sure to interact appropriately: • Thank – Give appreciation to those users promoting your brand or products • Apologize – If folks are ranting about your company, products, or services, apologize and see if you can make it better. Don't get snarky! • Learn – Gather from your customers for better products, services, etc. • Educate – Share ideas and information (without pushing your product!) • Take sentiment scores with a grain of salt. Most still require some manual intervention. “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” Warren Buffett. IBM Portal Excellence Conference July 19 – 22, 2010 33
    • 2010 Exceptional Web Experience Conference Tools for Analytics / Monitoring • Build your own monitoring system options... • Google alerts, Google blog search, rss feeds, http://search.twitter.com/search?q=, Technorati, Digg, Ingboo, Social Mention, Feedburner, etc. • Issues with build your own (the following vary per service) • More work to aggregate information • Many missing sentiment, authority • Pull model, not push / alerts • Commercial ($$) social media monitoring tools (note – some offer free versions) • SPSS, Radian6, Postrank, Nielsen Buzzmetrics, Alterian, Sysomos, Attensity (Biz360), Scoutlabs, Techrigy SM2, Spiral 16, Trackur, Sprinklr, etc. • Free tools for twitter monitoring and basic analytics • Twittercounter, Tweetreach, TweetEffect, Tweetscan, Twitalyzer, Twitter Analyzer, Tweetstats, etc. • URL Shorteners • Tr.im, bit.ly • Web Analytics • Coremetrics, Webtrends, etc. IBM Portal Excellence Conference July 19 – 22, 2010 34
    • 2010 Exceptional Web Experience Conference Tip #2 – Internalize all of the top “Social Media” Mistakes – and make sure not to do them! • Don't fear social media! • If you have not started yet, start small. Show the value and then progress to a more enterprise-wide engagement. • Set objectives, measure. Remember social media is not free. • Listen – don't spam communities • Leverage content syndication to ensure consistency of branding & messaging • Single source of the truth • Utilize in-house CMS for categorization, tagging, and analytics • Versioning and history for regulatory and compliance IBM Portal Excellence Conference July 19 – 22, 2010 35
    • 2010 Exceptional Web Experience Conference More Tips! • Identify and establish relationships with brand fans (influencers) • Develop a simple best practices document. • Centralize coordination. Use tools like cotweet if needed. IBM Portal Excellence Conference July 19 – 22, 2010 36
    • 2010 Exceptional Web Experience Conference For More Information (1) WebSphere Portal – IBM Site http://www-3.ibm.com/software/genservers/portal/ WebSphere Portal Information Center http://www.ibm.com/developerworks/websphere/zones/portal/proddoc.html WebSphere Portal Business Solutions Catalog (on Lotus Greenhouse) https://greenhouse.lotus.com/catalog/home_full.xsp?fProduct=WebSphere%20Portal WebSphere and Lotus Web Content Management Portal Open Beta https://www14.software.ibm.com/iwm/web/cc/earlyprograms/lotus/portalopenbeta/ WebSphere Portal Blog https://www.ibm.com/developerworks/mydeveloperworks/blogs/WebSpherePortal/ IBM Portal Excellence Conference July 19 – 22, 2010 37
    • 2010 Exceptional Web Experience Conference Questions? IBM Portal Excellence Conference July 19 – 22, 2010 38
    • 2010 Exceptional Web Experience Conference For More Information (2 ) IBM Lotus Connections http://www.ibm.com/software/lotus/products/connections IBM Lotus Forms http://www.ibm.com/software/lotus/forms IBM Lotus Quickr http://www.ibm.com/lotus/quickr IBM Lotus Sametime http://www.ibm.com/lotus/sametime WebSphere Commerce http://www.ibm.com/websphere/commerce WebSphere Process Server and Business Process Automation http://www.ibm.com/software/integration/wps IBM Portal Excellence Conference July 19 – 22, 2010 39
    • 2010 Exceptional Web Experience Conference We Value Your Feedback! Please complete the session survey for this session: BUS-G02 Session Speakers: Nicole Carrier Brian Cheng IBM Portal Excellence Conference July 19 – 22, 2010 40
    • 2010 Exceptional Web Experience Conference © IBM Corporation 2010. All Rights Reserved. The information contained in this publication is provided for informational purposes only. While efforts were made to verify the completeness and accuracy of the information contained in this publication, it is provided AS IS without warranty of any kind, express or implied. In addition, this information is based on IBM’s current product plans and strategy, which are subject to change by IBM without notice. IBM shall not be responsible for any damages arising out of the use of, or otherwise related to, this publication or any other materials. Nothing contained in this publication is intended to, nor shall have the effect of, creating any warranties or representations from IBM or its suppliers or licensors, or altering the terms and conditions of the applicable license agreement governing the use of IBM software. References in this presentation to IBM products, programs, or services do not imply that they will be available in all countries in which IBM operates. Product release dates and/or capabilities referenced in this presentation may change at any time at IBM’s sole discretion based on market opportunities or other factors, and are not intended to be a commitment to future product or feature availability in any way. Nothing contained in these materials is intended to, nor shall have the effect of, stating or implying that any activities undertaken by you will result in any specific sales, revenue growth or other results. All customer examples described are presented as illustrations of how those customers have used IBM products and the results they may have achieved. Actual environmental costs and performance characteristics may vary by customer. IBM, the IBM logo, Lotus, Lotus Notes, Notes, Domino, Quickr, Sametime, WebSphere, UC2, PartnerWorld are trademarks of International Business Machines Corporation in the United States, other countries, or both. Unyte is a trademark of WebDialogs, Inc., in the United States, other countries, or both. Java and all Java-based trademarks are trademarks of Sun Microsystems, Inc. in the United States, other countries, or both. Microsoft and Windows are trademarks of Microsoft Corporation in the United States, other countries, or both. UNIX is a registered trademark of The Open Group in the United States and other countries. If you reference Linux® in your presentation, please mark the first use and include the following; otherwise delete: Linux is a registered trademark of Linus Torvalds in the United States, other countries, or both. Other company, product, or service names may be trademarks or service marks of others. All references to “Open Financial”, “Open Insurance”, “Juke Box”. refer to a fictitious company and are used for illustration purposes only. IBM Portal Excellence Conference July 19 – 22, 2010 41