Executive Strategy: Social Media Marketing

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Executive Strategy: Social Media Marketing

  1. 1. Executive Strategy: Social Media Marketing Andrew Krebs-Smith Vice President, Founder Social Fulcrum Saturday, December 18, 2010
  2. 2. Scott Pilgrim T-Shirts • 12,000 Facebook Fans • 2,000 Twitter Followers • People begging for product before it was even manufactured • Budget: $500 + Time Saturday, December 18, 2010
  3. 3. Warman Homecare • 3 Facebook Fans • Budget: $3,000/month Saturday, December 18, 2010
  4. 4. The Difference • Research • Strategy • Adjustments Saturday, December 18, 2010
  5. 5. Goals for today • Quick Social Media/WOM 101 • Review Materials • Emphasize measurement • Show innovative/strategic uses of social media • Show process and metrics Saturday, December 18, 2010
  6. 6. Short Personal Chronology • Facebook launched the year I was a Freshman in College • Graduated from Loyola in 2007 • Advertising, Public Relations, Marketing • First job in Word of Mouth Marketing at advertising agency • Laid off - started consulting • Director of Word of Mouth Marketing • In 18 months: Grew dept from one person experiment to 15% of agency revenue, 1/3 of agency personnel, 25% of agency profits • Recently started my own marketing company in New York Saturday, December 18, 2010
  7. 7. Wide range of experience • Pfizer • Bozzuto Group • Robroy & Co • Texas Instruments • Mariner Bay • NSI Partners • Ocean City • Roseda Beef • Rosenthal Partners • Slacker Hero • Patrice and Associates • Alexander + Tom • Robert Andrew Salon • Carol for a Cause • MGH • Strayer University • Baltimore Convention • The Cyphers Agency • National Chicken and Visitors • American Chemistry Council Association Council • Chesapeake Bay Trust • Designer Chatter • American Nurses • Bayer • Sugarloaf Mountain Credentialing Center Vineyard • Meritain • American Nurses • CMD Outsourcing • Prometric Association • Warman • Prometrics • Forge Academy of • Zoysia Farm • 7 Oil Co. Strength Training Nurseries • Television News • Frederick Ward and Center Associates • Severn Savings Bank Saturday, December 18, 2010
  8. 8. WOM concepts • Credible • Consumer vs. Company • Interactive • Glazed eyeballs vs. targeted interactive • Exponential • It’s cheaper to have 1,000 people tell 10 people than to reach 10,000 people Saturday, December 18, 2010
  9. 9. Old Spice • 40 Million views within 4 days of YouTube campaign Saturday, December 18, 2010
  10. 10. United Breaks Guitars Saturday, December 18, 2010
  11. 11. More than just Facebook and Twitter • Social Networks (FB, Twitter, • Sometimes not accessible by Linkedin) search engines • Huge audiences, lots of • Q&A Sites (Yahoo Questions) opportunities • Review Sites (Yelp, Tripadvisor, • Public medium, well-optimized RateMyProfessor) • Social Bookmarking (stumbleupon, del.icio.us) • Where negative sentiment lives • SEO • Online Forums (NASIOC, • Social Voting (digg, Reddit) CityData) • Traffic drivers • Niche communities • Influencers • Insight into consumer • Media Networks (YouTube, Flickr) perceptions, habits, motivations • Awareness, visibility, SEO Saturday, December 18, 2010
  12. 12. More than just promotion • Advertising • Search Engine Optimization • Being more visible • Negative sentiment • Public Relations • Crisis hedging/management • Market Research • Customer Service • Comcast, Strayer University • Sales, Lead Generation • Self-identified prospects • High conversion rates • “Pull” strategy to get in front of decision makers Saturday, December 18, 2010
  13. 13. Social Media ROI • What were your impressions? • What was illuminating? • What did you disagree with? Saturday, December 18, 2010
  14. 14. One Critique • Only focuses on one strategy • Produce content, build audience Saturday, December 18, 2010
  15. 15. Main Points • Think more broadly about “costs” and/or “return” • ROI can only be used in certain instances • Results can always be measured Saturday, December 18, 2010
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  20. 20. Main Points • Internet Ad spend out of line with time spent • Under-monetized Facebook Advertising Saturday, December 18, 2010
  21. 21. Different B2B Uses • Sales Outreach • Business intelligence “ammo” for sales team • Credibility and positioning for thought leadership • Training more employees to spread company message and thus increase awareness • Service offering in certain cases (consulting, marketing, training services, etc.) Saturday, December 18, 2010
  22. 22. Different B2B Uses • Sales Outreach • Business intelligence “ammo” for sales team • Credibility and positioning for thought leadership • Training more employees to spread company message and thus increase awareness • Service offering in certain cases (consulting, marketing, training services, etc.) Saturday, December 18, 2010
  23. 23. B2B “Wellness” Case CHALLENGE: • Wellness company offering $100M-$500M companies programs to decrease health insurance costs • Needed to reach C-Level executives Saturday, December 18, 2010
  24. 24. B2B “Wellness” Case IMPLEMENTATION: • Built LinkedIn profile • Used list of 50 prospects to build our network • Connected with anyone that would get us closer to the 50 prospects • Sent message to all 50 prospects • Messaging was custom to each prospect RESULTS: • 80% delivery rate • 25% looked at white paper • 3 Leads (meetings) Saturday, December 18, 2010
  25. 25. Different B2B Uses • Sales Outreach • Business intelligence “ammo” for sales team • Credibility and positioning for thought leadership • Training more employees to spread company message and thus increase awareness • Service offering in certain cases (consulting, marketing, training services, etc.) Saturday, December 18, 2010
  26. 26. B2B Measurement • Company that outsources customer service for higher education (financial aid dept, registration, etc.) • Initially hired me to research list of 50 prospects so we could write about the issues they were discussing via social media • Not research-based strategy Saturday, December 18, 2010
  27. 27. B2B Measurement • I looked into customer sentiment at target list of prospect schools • Found “ammo” for their sales team - negative comments about financial aid departments, registration depts, etc. • Instead of “Hi, I think our services might be useful,” they now say “We know you have a problem.You’ve had 7 negative comments about your registration dept this month. Let us help solve the problem and save you money in the process.” Saturday, December 18, 2010
  28. 28. Usual Drivers • Specific Problem • Negative reviews • Specific Objective • Increased sales • Positioning • Our competition is doing it • “shiny object” • Everyone says this is important • Curious re: New Opportunities Saturday, December 18, 2010
  29. 29. Stages of social media awareness • Another flash in the pan • Maybe for them, not for us • Our competition is doing something, why aren’t we? • Let’s build a Facebook/ Twitter Page Saturday, December 18, 2010
  30. 30. But Ideally... • Don’t jump into things • Let’s figure this out ourselves • What is the situation? Research. • Create a plan. Create a team. Create goals. • Adjust, measure, repeat. Saturday, December 18, 2010
  31. 31. Measurement • Every campaign should start with measurement of some kind, whether anecdotal or quantitative. • Many tools available for $1,000 / month • Don’t take results at face value. Dig, filter, be critical.You will emerge with a holistic view of the situation. Saturday, December 18, 2010
  32. 32. Power of LinkedIn Saturday, December 18, 2010
  33. 33. Robert Andrew Salon and Spa • Situation: Negative reviews, first page Google results • Solution: Positive Reviews via ambassador program • ROI untrackable, but undeniably effective • How much would you pay to correct a similar issue? Saturday, December 18, 2010
  34. 34. NCC Situation • NCC Marketing Budget decreased to $50,000 over the last 10 years • Less members, less dues • Food pages dissapearing Saturday, December 18, 2010
  35. 35. National Chicken Council • Goals • Build relationships directly with consumers • Public relations to promote chicken • Crisis communications planning • Objectives • Garner 1,000,000 recipe impressions • Create relationships with 5 prominent food/chicken bloggers • Create active Facebook community of 10,000+ members • Increase website traffic Saturday, December 18, 2010
  36. 36. Strategy • Gather audience of evangelists • Leverage recipe value combined with individual response value • Find online influencers, build relationships • Offer value, leverage as needed Saturday, December 18, 2010
  37. 37. Implementation • Simple, effective, long-term Facebook Fan Page ad • Respond to large volume of people tweeting about: • Recipes for dinner/lunch • Other ways to cook chicken • Create relationships with food bloggers • We offered to promote their blog on Facebook page • Send bloggers “chicken gear” Saturday, December 18, 2010
  38. 38. Other... • Chicken Video Contest • Promoted by entrants Saturday, December 18, 2010
  39. 39. Results (12 months) • 30,000+ Facebook fans • 500+ recipes distributed directly to people asking for recipes • 20+ Blogger relationships Saturday, December 18, 2010
  40. 40. The Shrimp Industry Wished it had a Facebook page with 30,000 fans Saturday, December 18, 2010
  41. 41. How we did it • Strategic, planned usage • Facebook - gather audience • Twitter - build relationships • Bloggers - build relationships • Contest - exponential awareness • Adjustments based on data • What data? Saturday, December 18, 2010
  42. 42. Metrics • Depend on each campaign Saturday, December 18, 2010
  43. 43. Report Template • Level 1 - Impressions • Level 2 - Audience • Level 3 - Interaction • Level 4 - Site Traffic • Level 5 - Sales (or lead conversion) Saturday, December 18, 2010
  44. 44. Examples Saturday, December 18, 2010
  45. 45. If you are going to use Social Media... • Research is a valuable investment • Set Goals, Objectives, Strategy • Measure Saturday, December 18, 2010
  46. 46. Here’s what I do when someone says “I want social media” or “I have a specific problem” • Find out what’s being said • About Industry • By Competitors • By Customers • By Audiences • By Employees/Company • What are possible assets? • Where are target audiences? • What is the budget? • What are the goals and objectives? How can we measure them? • Are there influencers? • Act like a consumer. Perform a google search Saturday, December 18, 2010
  47. 47. What should you look for? • Influencers • Bloggers • Twitter users • Communities • Online Forums • Industry-specific communities • Demographic-specific communities • Interest-based communities • Targeting • Facebook Ads • Meetup • Consumer Experience • What comes up in a search? • Reviews? • Directories, local lists • Search engine optimization Saturday, December 18, 2010
  48. 48. Then I look at specific locations Facebook LinkedIn Twitter Flickr Meetup YouTube Blogs SlideShare Forums Review Sites Ning Event Sites Q&A Sites Examiner Saturday, December 18, 2010
  49. 49. And I use that to develop an “Online SWOT” • Strengths • Innovative use (e.g. Comcast) • Social-savvy target audience • Weaknesses • Strict regulations (e.g. pharma, banking) • Opportunities • Lots of positive discussions regarding product/brand/industry • Easily reachable communities • Threats • Political implications • Negative sentiment • Bad customer experiences Saturday, December 18, 2010
  50. 50. Why SM might make sense for your company • Big marketing pieces already in place • Available resources (time, people, money, partnerships) Saturday, December 18, 2010
  51. 51. My two cents • There are opportunities in social media for every company • There are opportunities in word of mouth marketing without using social media • Just because there are opportunities doesn’t mean you should spend money there • Social Media can be used for more than just promotion, and more than just marketing (but it’s usually marketing in some form because it’s all public) Saturday, December 18, 2010
  52. 52. Two more cents • Building “social” real estate (or communities) takes time • Return is not immediate, nor linear • Implementation/management usually works best internally for larger companies • Usually the cost of measuring ROI dissuades companies from measuring it • Spend money at the beginning to determine (1) if there are opportunities and (2) if so what is the situation/ strategy? Alot of companies want ROI from the outset, and don’t want to pay to “figure things out”. Saturday, December 18, 2010
  53. 53. Main tenets of social media strategy • Find your audience • Align strategy with your brand • Create objectives • Measure results • Adjust based on metrics Saturday, December 18, 2010
  54. 54. For more information • Read December Harvard Business Review • Read Mashable (blog) • WOMMA.org • andrew@socialfulcrum.com Saturday, December 18, 2010
  55. 55. Questions? Saturday, December 18, 2010
  56. 56. The End Thanks! Andrew@SocialFulcrum.com Saturday, December 18, 2010

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