SOCIAL MEDIA STRATEGY | Steve Latham

Social Media Strategy: ! A Practical Guide for Marketers December 2009 1

Setting Expectations This presentation IS NOT…   A history of social media   A qualitative thesis on why social media matters   A compilation of things you already know This presentation DOES…   Recap the business case for Social Media   Address pitfalls of social media marketing   Explain how to avoid social media pitfalls   Provide a roadmap for a social media strategy 2 Social Media Strategy ©Spur Interactive 2009

Table of Contents   Business case for Social Media   Social Media Pitfalls   Avoiding Social Media Pitfalls   Social Media Strategy Framework 3 Social Media Strategy ©Spur Interactive 2009

Social Media: a Powerful Force The Web is essential in our daily lives Other Print   33% of media consumption(1) Online Radio   Boomers are gaining on Gens X/Y TV Social media to comprise 50% of usage(2)   Social media now surpasses Email in global reach(3)   Fastest growth: women over 50 Word of mouth is reaching a new level   Millions of interactions take place every hour   Brands are being discussed 24/7 (1) Pew Research foundation 2009, (2) Forrester, 3) Nielsen Online 4 Social Media Strategy ©Spur Interactive 2009

5 Reasons to Embrace Social Media 1. You are already involved in Social Media   Your employees are doing it   Discussions about your brand are taking place   If you participate you can shape outcomes 2. Comparative advantages   Word of mouth is #1 inﬂuencer of purchases   Does not require a media budget   Viral effect can carry a message a long way 3. Revenue growth   Among top 100 Brands, those using social media saw 18% lift in revenue (Altimeter / Wet Paint 2009)   91% of Inc. 500 use social media (Umass Dartmouth 2009) 5 Social Media Strategy ©Spur Interactive 2009

5 Reasons to Embrace Social Media 4. Must-have for Corporate Marketing:   Creating brand awareness and consideration   Inbound marketing / research   Community relations   Recruiting / employee relations   Investor relations   Crisis / corporate communications 5. Search Engine Rankings!   Can produce great results!   See example on next slide 6 Social Media Strategy ©Spur Interactive 2009

Case Study: Social Media Drives Search Used social media to obtain 3 of top 4 listings for “social media business case” 7 Social Media Strategy ©Spur Interactive 2009

How Important is Social Media? Importance of Social Media to Inc. 500 2007 50% 2008 80+% lift 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Very Important Somewhat Somewhat Very Unimportant No Response Important Unimportant Source: UMASSD Center for Marketing Research 2008 8 Social Media Strategy ©Spur Interactive 2009

How Are Leaders Using Social Media? 2007 Inc. 500ʼs Use of Social Media Today 2008 60% 90+% lift 100% lift 50% 40% 100+% lift 30% 20% 10% 0% Bulletin Social Online Video Blogging Wikis Podcasting Don't Use Boards Networking Source: UMASSD Center for Marketing Research 2008 9 Social Media Strategy ©Spur Interactive 2009

How Social Media is Being Utilized 10 Social Media Strategy ©Spur Interactive 2009

Social Media: Where the Growth Lies 11 Social Media Strategy ©Spur Interactive 2009

Social Media Pitfalls   Rush to action without a plan   Lack of objectives and measurement   Content guidelines   Failing to engage audiences   Limited Reach 12 Social Media Strategy ©Spur Interactive 2009

Social Media Pitfall #1: Rush to Action Rushing to action without a plan (shiny new object) •  Hasty decisions and knee-jerk reactions •  One-off approach •  Focus on the wrong objectives or platforms •  Failing to understand requirements and resources GMOOT! (get me one of those) 13 Social Media Strategy ©Spur Interactive 2009

Social Media Pitfall #2: Measurement Success requires: •  Deﬁned and measurable objectives •  Metrics that tie to those objectives •  Tools (and knowledge) for tracking metrics •  Ability to translate online activity to business results •  Methodology to calculate ROI Awareness Consideration Sample Reports shown on next 3 slides Preference 14 Social Media Strategy ©Spur Interactive 2009

Social Media Report: Buzz Volume Trends Buzz Chart: Mentions of Client vs. Competitors (source: Nielsen Online) Q3 Q4 Q1 Q2 Q3 15 Social Media Strategy ©Spur Interactive 2009

Social Media Report: Sentiment Sentiment: Client vs. Competitors (source: Nielsen Online) 16 Social Media Strategy ©Spur Interactive 2009

Social Media Report: Buzz Volume Cross Topic Buzz by topic: Client vs. Competitors (source: Nielsen Online) 17 Social Media Strategy ©Spur Interactive 2009

Social Media Metrics Engagement metrics Web 2.0 Metrics   Site visits   Posts   Unique visitors   Tweets and ReTweets   Visit frequency   Facebook Fans   Page views per visit   Followers   Time on site   Ratio: Following to Followers   Registrations   Mentions   Conversions   Content views   Content uploads   Shared pages   Sentiment ratio   Page 1 search rankings 18

Social Media Pitfall #3: Content •  While content is critical, it is often an afterthought •  Once the genie is out of the bottle, it’s too late •  Requires content planning •  Format: copy, video, photos, audio •  Type: original vs. repurposed •  Source: where will it come from? •  Requires approval •  Brand guidelines •  Legal issues (beware of astro-turﬁng!) •  Must be engaging… 19 Social Media Strategy ©Spur Interactive 2009

Social Media Pitfall #4: Failure to Engage •  Social Media is about listening and ! interacting vs. shouting •  “Spray and Pray” doesn’t work •  Think: Telephone vs. Megaphone •  Engagement hurdles: •  Lack of interesting and relevant content •  Self-focused content •  Too much self-promotion 20 Social Media Strategy ©Spur Interactive 2009

Social Media Pitfall #5: Limited Reach •  Social Media only works with a large audience •  Process of building a network is often overlooked •  Without reach, there is no ROI 21 Social Media Strategy ©Spur Interactive 2009

Avoiding Social Media Pitfalls   Goals: Who and What? •  Define audiences and identify influencers •  Define objectives •  Set reasonable expectations   Media: which social media platforms?   Engagement: how to listen and interact? •  Content: types of media, voice, frequency •  Duties: producing, posting, sharing, responding •  Policy: addressing negative comments 22 Social Media Strategy ©Spur Interactive 2009

Avoiding Social Media Pitfalls (cont.)   Reach: how will you promote your program? •  Online, email, ofﬂine, PR, word of mouth •  How will you build your network?   Resources: what is needed; what will it cost? •  People, process, assets, tools, etc.   Metrics: how will you measure success? •  What metrics will you use? •  What tools will you use? •  How will you translate into ROI? 23 Social Media Strategy ©Spur Interactive 2009

Social Media Strategy: Roadmap for Success Components of a Social Media Strategy   Audiences   Objectives and Metrics for measuring success   Team and resources   Key inﬂuencers (and tactics for engaging them)   Social Media sites, networks and groups   Content guidelines   Operational plan for producing, posting, sharing   Marketing plan to promote and build network   Tools (inﬂuencer tracking, monitoring, reporting)   Methodology for translating activity into ROI You now have a framework for your social media strategy! 25 Social Media Strategy ©Spur Interactive 2009

In Closing… Social media is not the holy grail or a panacea for all ills… …but it is a powerful force that WILL impact your business Like all things in business, success begins with a strategy… …so remember your proverbs: “measure twice, cut once” Let’s stay in touch!   Check out our blog http://blog.spurinteractive.com   Connect with me on:   Twitter: @stevelatham   Facebook: slatham   LinkedIn: stevelatham 26 Social Media Strategy ©Spur Interactive 2009

About the Presenter Steve Latham is the founder and CEO of Spur Interactive, a strategic interactive marketing agency. In this role, Steve has planned and managed successful campaigns for brands such as Continental Airlines, FedEx Kinko's, ConocoPhillips and others. In the realm of social media, Steve has extensive experience in developing and executing social media strategies that produce measurable business value. Steve is an accomplished industry lecturer and thought leader. Steve speaks frequently at industry events including Search Engine Strategies, Online Marketing Summit and Interactive Strategies. Steve’s articles have been published by MediaPost, Online Media Daily, iMedia Connection, Marketing News and Bizjournals.com. Steve has been quoted in B2B Magazine, PR Week, Fortune and CNN.com. Steve received an MBA from Harvard Business School and a BBA from the University of Oklahoma. You can read Steve’s articles at blog.spurinteractive.com and at OnlineMarketingConnect.com. facebook.com/slatham @stevelatham ! www.linkedin.com/in/stevelatham 27 Social Media Strategy ©Spur Interactive 2009

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