Social Media Strategic Overview Randolph F. Price CEO Strategic Pricepoints firstname.lastname@example.org 949. 241. 5777 Twitter: @Pricepoints
What are we talking about? Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value. - Philip Kotler
What we’ll discuss in the next 45 minutes
Provide a framework for establishing SMART social marketing objectives
Move beyond the checklist approach to apply a strategic filter for SMM evaluating opportunities and platforms.
Reinforce Social CRM, which is an opportunity to have a continuous, valuable exchange with customers.
Highlight the amplification effect on marketing results achieved through integration of social marketing with offline campaigns
“A brand is what people say about you when you're not in the room” Jeff Bezos - Chairman, Amazon
People talk about you when you’re not in the room Playground Water Cooler Bar Starbucks
“…half the US adult population will be on a social network by 2011.”eMarketer Trust in "a person like me" has tripled, from 20% to 68% from 2004 to 2006. of Internet users participate in some form of social media, up from 56% in 2007.... 75%
Owned Media, Paid Media & Earned Media
Social Technologies Adoption In The Enterprise March 2010 “Best Practices For Introducing Social Technologies”
Social Media Marketing Value Chain
The Comcast Digital Strategy Comcast Customer Connect Comcast Central Forum / Communities Corporate Blog Blogging on other sites Comcast.com
E-mail / Phone
Office of Rick Germano
Customers helping customers
Speaking directly to customers
What’s different now? There’s a newer bigger room
The Internet delivers tremendous scale to WOM
Brands are online – with or without you Brands have an unprecedented opportunity to converse with their customers and drive deeper connections
So what are you going to do about it? Listen & Participate Cover Your Ears and Pretend It’s Not Happening OR
Don’t fall into this trap! 19
The Internet is a real-time focus group Brand Health Scorecard
KCIsSM* assess quality and quantity of conversations online
Audit: What’s the competition doing? Social media investments by competitive brands… Look at your brand and your competitor’s brands to understand:
What is your current social footprint?
How are your competitors and industry approaching social media?
Glean actionable consumer insights that can inform future social marketing endeavors
…and what people thought of it
Developing A StrategicSocial Media Marketing Plan
Game plan for success in social marketing
Let’s evaluate opportunities by asking 4 questions SOCIAL MARKETING STRATEGIC LENS Does it use our social media arsenal? Does it meet our marketing objectives? Does it follow social media best practices? What is the value exchange between consumer & brand?
Establishing an architecture to tie communities together will maximize online conversations Existing Asset Global Marketing New Asset HUB & SPOKE APPROACH With new hub HUB & SPOKE APPROACH With your brand as hub MATRIX / INTERCONNECTED Without central destination New Asset Existing Asset Existing Asset New Asset Note: Example architectures for discussion purposes only
Strategic Approaches Vary Complexity
Finding your voice in social spaces No one voice will do For each environment, we measure against the arsenal and the goals Options could include: Voices throughout the food chain Voices for each brand/product Voices from your citizens – part of the brand ambassador program
Develop your strategy: Hub & Spoke
Apply listen + audit to create a plan that will engage the target audience with the right messaging at the most relevant moment
Build a unifying theme that will create deep engagement with consumers to reach objectives
Build communications & promotions plan
Key Social Media Platforms
Social platforms command growing audiences Viewers Users Readers
Brands have harnessed the Platforms Coca-Cola Super Bowl Ad Syndication NBC across blogosphere Amplify Content via Video Syndication Nat Geo Channel on Twitter Sprite Step Off Social Program
Adapting the execution to the objective Client: H&R Block Objective: CRM Client: National Geographic Objective: Tune-In
Real Sales Impact
Micro-blogging: 22 corporate accounts ,
+17 individuals using @Dell handles on Twitter
$1 Million in Revenue on Twitter (Feb 09) $3 Million in Revenue on Twitter (Jun 09) $5 Million in Revenue on Twitter (Jan 10)
Friends, Followers & Fans
Integrating with traditional marketing Integrate with Offline Digital Word of Mouth Igniting Distribution Branded Integration
Customized Outreach yield rich results
Social marketing used to promote offline initiatives TV Ads Drive-to-Store Events Petition
Build deeper relationships Nurture Communities Co-Created Environments Branded Communities By the fans, for the fans
Preventing & Managing Social Marketing Fumbles
Motrin had quite the headache….
“With regards to the recent Motrin advertisement, we have heard you. On behalf of McNeil Consumer Healthcare and all of us who work on the Motrin Brand, please accept our sincere apology. We have heard your concerns about the ad that was featured on our website. We are parents ourselves and we take feedback from moms very seriously. We are in the process of removing this ad from all media. It will, unfortunately, take a bit of time to remove it from our magazine advertising, as it is on newsstands and in distribution. Thank you for your feedback. It’s very important to us.” Results 1 - 10 of about 11,600 from twitter.com for Motrin. “hell hath no fury like a mommy blogger scorned” Real Impact
What could Motrin have done? Online buzz monitoring is different than focus groups Keep an ear close to the ground to understand brand perception, competitive landscape Channel the Conversation
Case Study: Listening helped inform NBC and make quick decisions during crises Only 9% of Alec Baldwin blog posts mention “30 Rock” April 19, 2007 …of that, only 12% said they’d never watch 30 Rock again Season Finale April 26, 2007 How bad is the damage to 30 Rock?
What to measure with social media All can be trackedover time to gauge trends ROI
Measure against KCIs & KPIs Sample KCIsSM:
Volume of interactions with content
Volume of user generated content
Ties to brand health metrics
Traffic & links
Social Media Dashboard
Establish quality & quantity baselines then measure regularly Demographics Viral Sourcing Buzz Monitoring Daily active listening can highlight potential problems with escalation plan in place Source: 360i analysis of YouTube Insights, Facebook Insights & Blogosphere
Measure the right things
Summary Social media commands a growing and influential audience who engage in conversations about your programming every day. You can benefit from these conversations by facilitating them, listening, and getting involved where appropriate. The first step is reviewing where target customers are and how they’re using these new sites and platforms.
… is becoming marginalized.Demand generation has gotten harder, more expensive, and is producing declining returns Brand Direct
Social media Feeds the funnel to unlock a multitude of channels Traditional Social Are growing the channels used to fuel your funnel?
Social media Strategy Effective social media marketing begins and ends with the content. If you don’t have something interesting to say all the distribution in the world won’t matter. It’s all about the content.