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Strategies to profile social media's value

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With so many channels competing for budget, social media managers must know to demonstrate social media's value to attract greater investment.

Published in: Social Media

Strategies to profile social media's value

  1. 1. Strategies to demonstrate the value of social media @M_Hickinbotham
  2. 2. @M_Hickinbotham Westpac experience It takes a team to demonstrate the value of social media. Reference: Australian Financial Review, Westpac follows customers to Facebook, backing social media over search for digital marketing, 8 Dec, 2014 http://www.afr.com/it-pro/westpac-follows-customers-to-facebook-backing-social-media-over-search-for-digital-marketing-20141208-jytp8
  3. 3. @M_Hickinbotham Social Media is one of many channels This is the Australian Social Marketer’s opportunity. Brian Hartzer, Westpac Group CEO. Reference: Australian Financial Review, Ignorant of social media , CEOs fail to use LinkedIn, Twitter, 9 Mar, 2015. http://www.afr.com/brand/chanticleer/ignorant-of-social-media-ceos-fail-to-use-linkedin-twitter-20150308-13yqp9
  4. 4. Understand the dynamics of the corporate structure Find the best opportunities to demonstrate value. @M_Hickinbotham Reference: Altimeter - Social Business Governance: A Framework to Execute Social Business Strategy http://www.slideshare.net/Altimeter/slides-social-business-governance-altimeter-group
  5. 5. All politics is local Understand the stakeholder’s issues and perception of social media. @M_Hickinbotham
  6. 6. Detail where and how social media can add value Repeat, repeat and repeat your key messages. Care & Support Awareness Consideration & Intent Paid - Reach the right people at scale. - Post should focus on emotional solution. Organic - Latent interest and external stimulus. - Blog posts that get shared / generate PR. Paid - Target people based on interest and/or intent. - Posts should focus on product attribute. Organic - Publish evergreen content to enable Dark Social. - Customer product reviews. Paid - Connect with customers to provide support. Be on the lookout for advocates. Organic - Community service/support forum. @M_Hickinbotham
  7. 7. Exceed campaign expectations Create value where little to no expectations exist. @M_Hickinbotham
  8. 8. Run a trial Tap into the ‘adjacent possible’. @M_Hickinbotham Sequential Messaging: Brand Response + Direct Response
  9. 9. • Track the demographic segment with the highest conversion lift. • In the placebo group, identify the demographic segment that converted at a higher rate than other segments. • The trial generated a lift in Ad Recall, Purchase Intent and Message Association. @M_Hickinbotham Run a trial Profile value in terms that target stakeholders can relate to.
  10. 10. Media attribution: Optimising digital marketing spend in Financial Services - Datalicious @M_Hickinbotham Work with subject matter experts Create opportunities for stakeholders to ‘drop the penny’.
  11. 11. Share relevant case studies Timing is everything. Reinforce key messages with industry/peer based case studies. @M_Hickinbotham
  12. 12. What does success look like? Build momentum . @M_Hickinbotham
  13. 13. https://au.linkedin.com/in/mikehickinbotham mike@socialcorp.com.au

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