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Brian Solis

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  • 1. The state of social media and how to win over the C-suite Brian Solis, Principal Analyst Social Business 2014
  • 2. Social business is here and it’s only becoming more important.
  • 3. The question is, do we realize how important it really is?
  • 4. The State of Social Business
  • 5. That percentage (of companies with a dedicated social media team) has increased in the last two years Q. Does your company have a dedicated social media team that serves the entire company or division as a shared resource? Source: Altimeter Group Survey of Digital Strategists, Q2-3 2013 (n=65); and Q2 2011 (n=144) 33% 67% 22% 78% Not yet Yes, at the corporate level and/or division level 2011 2013
  • 6. 79% of companies have a dedicated team to serving social (at the corporate and/or division level) 43% 14% 22% 22% Yes, at the corporate level Yes, at the division level Yes, at the corporate and division level Not yet Q. Does your company have a dedicated social media team that serves the entire company or division as a shared resource? Source: Altimeter Group Survey of Digital Strategists, Q2-3 2013 (n=65); Percentages do not add up to 100% due to rounding.
  • 7. Dedicated Social Media Teams grow in size Role Average # Employees 2011 Average # Employees 2013 Social Strategist 1.5 1.6 Business Unit Liaison 1.5 1.7 Content Strategist N/A 1.7 Education/Training Manager .5 0.8 Community Manager 3 2.5 Web Developer 1.5 3.4 Social Media Manager 2 2.2 Social Analyst 1 1.6 Total 11 15.6 Source: Altimeter Group Survey of Digital Strategists, Q2-3 2013 (n=51); ; and Q2 2011 (n=93) Q. How many full-time or full-time equivalent employees make up this dedicated social media team? (Answer for the team(s) you are most familiar with.)
  • 8. Most enterprises characterize themselves as Intermediate in social business maturity 6% 25% 26% 26% 14% 3% Stage 1: Planning Stage 2: Presence Stage 3: Engagement Stage 4: Formalized Stage 5: Strategic Stage 6: Converged Q. How would you characterize where your organization is in its social business evolution? Source: Altimeter Group Survey of Digital Strategists, Q2-3 2013 (n=65)
  • 9. Social data aids marketers across the entire customer journey 88% 59% 41% 68% 59% Awareness: Customer or prospects' awareness of our brand, product, or service Consideration: Customer or prospects' evaluation process, of our brand and our competitors Transaction/Conversion: Impact on transaction or conversion Experience: Customer's experience with the product or service, including customer service Loyalty: Potential for customers' experience to create brand affinity, advocacy, loyalty Q. At which of the following points is social data used to better understand your customers' decision making process? (Select all that apply) Source: Altimeter Group Survey of Digital Strategists, Q2-3 2013 (n=35)
  • 10. Social Business Program a primary driver of brand experience improvement Q. Which of the following outcomes can you attribute to your social business program in the last 12 months? 18% 19% 24% 45% 45% 53% 29% 37% 35% 26% 23% 23% 52% 42% 39% 29% 29% 21% Innovation: Increase in product R&D and innovation Operational Efficiency: Reduction in company expenses, e.g. customer… Revenue Generation: Increase in actual product revenue, leads,… Brand Health: Improvement in attitudes, conversation, and behavior… Customer Experience: Improvement in relationship with customers,… Marketing Optimization: Improvement in effectiveness of marketing programs We have formalized metrics that show positive outcomes We have not been able to tie this to positive outcomes We do not formally measure this yet 53% 45% 45% 24% 19% 18% Source: Altimeter Group Survey of Digital Strategists, Q2-3 2013 (n=65)
  • 11. With social business comes inherent challenges.
  • 12. 52% Top executives who are informed, engaged, and aligned with their company’s social strategy Source: Altimeter Group. Social Business Survey, Q4 2012.14
  • 13. At least 13 different business units may deploy social media 7.8% 9.4% 10.9% 14.1% 14.8% 16.4% 16.4% 28.9% 35.2% 36.7% 39.8% 65.6% 73.4% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% Market Research Legal Executive IT Customer/User experience Advertising Product development/R&D HR Social Media Digital Customer Support Corporate Communications/PR Marketing "In which of the following departments are there dedicated people (can be less than one FTE) executing social?" Source: Altimeter Group. Social Business Survey, 2012.
  • 14. 26%Companies that approach social media holistically, with business units operating against an enterprise vision and strategy Source: Altimeter Group. Social Business Survey, Q4 2012.16Source: Altimeter Group. Social Business Survey, Q4 2012.
  • 15. 34%Social marketers who agree that their organizations use clear metrics to associate social activities with business outcomes Source: Altimeter Group. Social Business Survey, Q4 2012.
  • 16. The Data Disconnect
  • 17. More than 80% have yet to fully integrate social data with other enterprise data sets 7% 11% 45% 36% Yes, it is deeply integrated with 4+ data sets Yes, it is deeply integrated with 1-3 data sets No, it is not integrated but we view it in conjunction with other data No, it is completely separate at this time Q. Do you currently integrate social data with other enterprise data within your business? Source: Altimeter Group Survey of Digital Strategists, Q2-3 2013 (n=62)
  • 18. 29%Companies that measure the financial impact of their social media efforts Source: Altimeter Group. Social Business Survey, Q4 2012.20Source: Altimeter Group. Social Business Survey, Q4 2012.
  • 19. 27%Companies that say their employees are aware and trained on their company’s social media usage policies Source: Altimeter Group. Social Business Survey, Q4 2012.
  • 20. 37%Companies that rate their employees’ knowledge of social media usage and related policies as “poor” or “very poor” Source: Altimeter Group. Social Business Survey, Q4 2012.22Source: Altimeter Group. Social Business Survey, Q4 2012.
  • 21. If you want to bring about the true promise of social media… stop talking about social media
  • 22. Social Media is less about technology and more about people
  • 23. Meet Generation-C…they’re not just social, they live a digital lifestyle.
  • 24. More than 88% of consumers are influenced by other consumers’ online comments. Source: Econsultancy.com
  • 25. One social customer will tell 42 people about an experience they have had with a company. Source: AmericanExpress
  • 26. 88%of consumers are less likely to buy from companies that ignore complaints and questions on social media Source: Altimeter Group. Social Business Survey, Q4 2012.28Source: Salesforce.com
  • 27. Loyal customers that engage with companies over social media spend 20% to 40% more money with those companies than other customers. As consumption habits shift, brands require media ubiquity Source: Bain & Company
  • 28. Martha Hayward, VP Social Media for Fidelity Investments In the future, there shouldn’t be a “social strategy;” there will just be a strategy for customer experience.
  • 29. Successful social businesses drive results through transformation.
  • 30. The first and most principled thing to do is a “voice of the customer” study. How can you decide what to do in social if you don’t understand what your customers do with it? Andy Markowitz, Director of Global Strategy for GE
  • 31. Seven Success Factors of Social Business Strategy
  • 32. Success Factor #1: Define the Overall Business Goals Explore how social media strategies create direct or ancillary impact on business objectives. What are you trying to accomplish, and how does it communicate value to those who don’t understand social?
  • 33. Success Factor #2: Establish the Long-Term Vision Articulate a vision for becoming a social business and the value that will be realized internally among stakeholders and externally to customers (and shareholders).
  • 34. Success Factor #3: Get Executive Support Social media often exists in its own marketing silo. At some point, it must expand to empower the rest of the business. To scale takes the support of key executives and their interests lie in business value and priorities.
  • 35. Success Factor #4: Define the Strategy Roadmap and Identify Initiatives Once you have your vision and you’re in alignment on business goals, you need a plan that helps you bring everything to life. A strategic social business roadmap looks out three years and aligns business goals with social media initiatives across the organization.
  • 36. Success Factor #5: Establish Governance and Guidelines Who will take responsibility for social strategy and lead the development of an infrastructure to support it? You’ll need help. Form a ‘hub” or CoE to prioritize initiatives, tackle guidelines and processes, and assign roles and responsibilities.
  • 37. Success Factor #6: Secure Staffing, Resources, and Funding Determine where resources are best applied now and over the next three years. Think scale among agencies but also internally to continually take your strategy and company to the next level. Train staff on vision, purpose, business value creation, and metrics/reporting to ensure a uniform approach as you grow business value and priorities.
  • 38. Success Factor #7: Invest in Technology That Supports Objectives Ignore the shiny object syndrome. Resist significant investments until you better understand how social technology enables or optimizes your strategy.
  • 39. 1) Be clear on what you want the outcome to be, and then structure support properly. 2) Invest in people and resources to make sure it’s not a one-time hit. Only take on as much as you can continue to actively support. 3) Tie it to what’s core to your company and for the consumer in your space. Julie Bornstein, SVP Digital, Sephora
  • 40. The promise of social business is how we introduce people back into business… It’s how we work It’s how we communicate It’s how we collaborate It’s how we connect It’s how we build community and relationships
  • 41. It’s no longer about B2B or B2C Social business introduces the 5th P into the marketing mix to usher in an era of P2P – People to People
  • 42. Return on Experience: The future of marketing and engagement lies in creating shareable experiences – It starts with a vision, mission, and a purpose. This becomes the core of what you will fight for.

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