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Social Business Strategy & Plan 8 Steps to Develop & Sustain Social Business

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Social business is a journey of sustainability, not a destination. Dive into the why, what and how of setting goals, understanding your audience, integrating new media, aligning to business goals, choosing technology investment, empowering employees and sustainability.

This presentation was delivered for a client in Poland and audience of C-Level executives in the insurance and financial industry.

Feel free to leverage content with full attribution to source with link to http://www.themarketingnutz.com and http://www.pammarketingnut.com. No copy/paste or duplication of content is permitted. Protected by Copyright 2014.

Published in: Social Media, Business, Technology
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Social Business Strategy & Plan 8 Steps to Develop & Sustain Social Business

  1. Pam Moore CEO / Founder Marketing Nutz @PamMktgNut Building,     growing  &   sustaining     social  business  
  2. Pam Moore CEO /Founder http://www.pamslinkedin.com @PamMktgNut Marke6ng  Nutz  Founders   Josh Moore CCO /Founder http://linkedin.com/in/joshroinut @JoshROINut
  3. “Experience helping brands of all size bridge complex gap to social success.” why  Marke6ng  Nutz?   Founders have 30+ years combined experience in digital marketing, corporate brand, startups & platforms. “PHD in acronyms not required. We help you fit social business in a nut shell so you can focus on what you do best, your business!” “CEO, best selling author recognized by Forbes as Top 10 Social Media Power Influencer + Top 10 Social Media Women Influencers!
  4. Marke6ng  Nutz  
  5. Embrace     the   JOURNEY!  
  6. Social Business Success
  7. Social Business “Becoming a social business transforms the organization from inside out, connecting the internal with the external in a way that enhances relationships and creates shared value for the people, the business & ecosystem as a whole.”
  8. Social Media “Means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks.”
  9. news     no  longer   breaks!   It     tweets!    
  10. is  anyone   listening    to  you?  
  11. 76%  marketers  think  they   know  what  customers  want   34%  have  asked  them   Source: Pivot
  12. Communities Create Markets Opportunity Harvest Free     member   Paid     member   Loyal     evangelist   Community Zone Customer Zone $$
  13. Customer Experience Most exciting opportunity in 2014 for marketers * Digital Trends Briefing 2014, eConsultancy / Adobe •  20% Customer experience •  18% Mobile •  15% Content marketing
  14. IDC  Predicts  1.3B   mobile  workers   by  2015  
  15. 90%  mobile  users  have  device   within  arms  reach  100%  of  6me    
  16. You  have  10  seconds   to  keep  em’!  
  17. YOU are the media
  18. Visual Communication •  Communicate   •  Humanize  brand     •  Brand  storytelling     •  Educate,  empower  &  Inspire   •  Emo<onally  connect   •  Entertain     19 Instagram:  200  million  users   Pinterest:          70  million  users       Facebook:    Images  have  53%  more  likes     PicMonkey:  1.6m  visits/  day,                                                4.3m  edits/  day                                  (in  8  months)      
  19. ac6vate   influencers  
  20. Embrace  OPCs     Other  people’s  community  &  content  
  21. Niche  social  networks  =   advocates     •  77% consumers more likely to buy new product via recommendation •  4x-10x higher conversion rate for offers from trusted advocates
  22. •  RBS specialist motorcycle insurance broker •  Used social media to engage with niche customer base, motorcyclists & bikers •  Created “Keep Britain Biking” community –  Blogs, videos, forums to discuss urban biking –  “Biking Intel” – info for bikers, from bikers (parking spots, routes etc.) –  All accessed via mobile app Devi[  
  23. •  Increased brand awareness with motorcycle enthusiasts in a non- transactional way •  Increased CRM data for customers & prospects via subscription to “Keep Britain Biking” community •  Those aware of community are 31% more likely to take out insurance with Devitt •  Now a key part of Devitt’s engagement strategy Results    
  24. •  Moved from traditional case management to full blown customer experience engagement strategy •  ING Society enables members to easily contact each other to share & receive advice •  Operational efficiency key focus; customers & employee empowerment ING  Poland  
  25. LinkedIn  for  Financial   Ins6tu6ons     •  54% investors age 55-64 use LinkedIn for financial communication & research •  62% advisors getting new clients (Source: Think Advisor) –  32% used LinkedIn to bring in $1 million+ in assets under management
  26. P = People O = Objectives S = Strategy T = Technology Don’t  Start  with  Technology  
  27. •  $135 Billion = how much marketing teams will spend on new digital marketing content •  78% CMOs think custom content is future of marketing Human  Content  Connec6on  
  28. human brands… •  Think like humans •  Care about humans •  Value relationships •  Listen to other humans •  Talk like humans •  Have a personality •  Show their “human” •  Make & own their mistakes •  Are available •  Know themselves •  Know their audience •  Invest in people •  Take risk
  29. Pick Goals where social can have an impact Align Social with top Business Goals
  30. Stop the Random Acts of Marketing (RAMs) =
  31. 1.  Determine business objectives 2.  Know Your Audience 3.  Map your journey / vision 4.  Establish executive support 5.  Roadmap: strategy & tactics 6.  Governance & guidelines 7.  Secure resources, funding 8.  Invest in technology to support objectives, vision & journey Social  Business  Strategy  
  32. •  What are your BIG goals? •  Align to business goals. •  Value to others? •  It’s not just about YOU! 1.  Determine  Business    Objec6ves  
  33. •  Social  listening       •  Thought  leadership   •  Nurture  rela6onships   •  Build  community     •  Earn  loyal  brand  advocates   •  Maximize  reach  in  exis6ng  &     new  markets   •  Support  sales  /  marke6ng  campaigns   •  Talent  recrui6ng  &  reten6on   Common social media business goals
  34. Source: Altimeter Group Language matters LOB/Geo Stakeholders Social Strategist/ Community Manager •  Business metrics: revenue, CSAT, reputation. •  Social media analytics: Insights, share of voice, resonance, WOM. •  Engagement metrics: fans, followers, clicks. Corporate
  35. 2.  Know  your  audience  
  36. •  Where are you going & why? •  What does success look like? •  Who needs to go with you? •  Why should they join you? •  Slow down to speed up. •  Social business vision. 3.  Map  your  journey    
  37. •  Support big goals •  Empower employees •  Scalability •  Walk the walk •  Integrate across the org. •  Ongoing process to maintain buy-in 4.  Establish  Execu6ve  Support  
  38. 71%  CEOs  believe   human  capital  is  key   source  of  sustained   economic  value  
  39. •  Executable plan •  Aligns business goals & initiatives across organization •  Eliminate silos & random acts of marketing (RAMs) 5.  Roadmap:   Strategy  &  Tac6cs  
  40. •  Dialog •  Advocate •  Support •  Innovate •  Measure Social  Business  Ini6a6ves     We  are  always  learning  
  41. 6.  Governance  &  Guidelines   •  Safety •  Empowerment •  Risk mitigation •  Communication •  Center of excellence
  42. Who  will  take  lead?     •  Integration •  Infrastructure •  Measurement •  Content •  Technology •  Risk management
  43. Create  Center     of  Excellence   •  Prioritize initiatives •  Processes, guidelines •  Roles / responsibilities •  Employee empowerment •  Keep up w/trends •  Consistent measurement
  44. •  Resources needed •  Think scale via agencies AND internal •  Employee empowerment •  Obtain buy-in across org •  Endurance, agility, efficient •  7.  Secure  Resources  /  Funding  
  45. •  Avoid shiny objects •  Human nurturing •  Business results 8.  Invest  in   Technology    
  46. think   DNA,   not   tools    
  47. Maslow’s  hierarchy  of  needs   Morality, creativity, spontaneity, problem solving, lack of prejudice, acceptance of facts Self-esteem, confidence, achievement, respect of others, respect by others Friendship, family, sexual intimacy Security of body, employment, resources, morality, family, health, property Breathing, food, water, sleep, homostasis, excretion physiological safety belonging esteem self-actualization
  48. hierarchy  of  social  community   inspira6on   self- actualization esteem belonging safety physiological achieve connect inspire
  49. Tech Enthusiasts Visionaries Pragmatists Conservatives Skeptics Technology  Adop6on   Geoffrey Moore Technology Adoption Lifecycle
  50. Questions? Pam Moore CEO / Founder Marketing Nutz @pammktgnut www.pammarketingnut.com www.themarketingnutz.com

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