There is a view that those that use Web 2.0 well also do a range of other things well. No coincidence though, that there are strong links between these areas and Web 2.0 tools and applications. It helps that these companies also have the right mindset.
The Engagement Database helps to identify which companies are doing more in this area. The top 100 brands (courtesy of Interbrand) were reviewed by EngagementDB (a Alltimeter, Charlene Li initiative). What they found was that there were a range of brands with varying levels of channels and depth of engagement. What they found was that some channels or mavens came to the top. Li and her team has made a correlation between financial performance and mavens (supports the Aberdeen research). Revenue growth and profitability both seem higher amongst Mavens.
The top 10 brands using Social Media (depth of engagement vs. Channel spread) are shown below. Any surprises here? Who didn’t make it but should be commended: Toyota: 3 individuals in their team but 7 channels. They have relied on others to provide content. They use Social Media Monitoring to look at who is talking about the brand. SAP have a huge SAP Community Network with 1.7 million members, they also run a Contributor points system to identify and reward experts. There channels include blogs, wikis, discussion forums and twitter. They have multiple “personal” Twitter channels because a corporate twitter channel doesn’t work well. One of the twitter channels openly asks for customer feedback.
A good example, Starbucks first initiative (championed by CEO Howard Shultz). To provide an indication of the “depth” of engagement, they lined up liaisons with all of their departments to respond and progress ideas from their customer base. The mini-Starbucks card was one of the first ideas developed from a customer suggestion. When they took over Facebook from original “owners” they had 200,000 fans, they have moved this to 3.5m. For every 4 people that interacted with a news item another 3 joined due to viral effect. The mini-card appeared on Facebook, generating over 1400 comments. Twitter is there in the moment channel where one person responds to questions from Baristas or customers, how to change blades and so on. They have 250k followers. Ensure they are using channels the right way – for every article they publish they also have to prevent others publishing to ensure consistency and a similar customer experience. Needs to be someone that can champion social media at a lower level as well. Incidentally, why do Starbucks do so well? We live in the physical world with thousands of natural touch points, so when we laid out the vision for our social strategy, it felt like home for the brand. It’s about the relationships we form with our customers, not marketing.”
Dell reinforce the conversational approach required. They started out with a blogger relationship programme but quickly moved into twitter channels (and an ideas site called IdeaStorm).
Session 2 Impact And Performance Measurement
Web 2.0 / Social Media<br />Impact and Performance Measurement<br />(Social Media Monitoring)<br />Alan Stevenson<br />
Aberdeen Research Group – study of the social media practices of 250 organisations<br />‘Best in class’ (50)<br />‘Industry average (125)<br />‘Laggards’ (75)<br />‘Best in class’ outperformed others in many key areas<br />Customer satisfaction<br />Actionable insights delivered<br />Reduced time to market<br />Customer insight<br />Source: Weber, 2009<br />
Social Media Monitoring Tools<br />A range of applications to track and analyze all aspects of your wider web presence. <br />Monitor and evaluate what is being said, by who, where and what impact <br />Deliver Actionable Insight<br />There are more than 100 of these tools…<br />
SMM Benefits<br />They provide the following organisational benefits: <br />Market Knowledge and Intelligence. Where your customers, partners, competitors and staff are hanging out online. <br />Customer Insight and Understanding. What your customers and their influencers are saying about you or your competitors. <br />Identify and network with high value, high growth prospects. Identifying key posts and follow-up actions. <br />Interaction with Key Influencers. Identify influential sources for incorporation into a wider strategic response. <br />Reputation Management. Timely identification of potential reputation issues. <br />Improved Sales and Marketing. New prospects, customer and market opportunities. <br />Improved Performance Monitoring. Support a 4Is approach. <br />
The 4i’s<br />Involvement – network/community numbers/quality, youtube and flickr views, time spent, frequency, geography<br />Interaction – actions they take – read, post, comment, reviews, recommendations<br />Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc <br />Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking <br />Social Media Monitoring Tools –Audit, Assess, Impact<br />
SMM Functions<br />The most effective of these tools do a number of things well: <br />Search and Relevance Filters. If Search Returns are the "River of News" these filters are the floodgates. <br />Categorisation and Tagging. Assign a level of additional importance or categorisation, including Events, Sentiment. <br />Analysis. Allow the user to visualise and analyse the results in a variety of useful ways<br />Alerts. Ability to feed new updates as they happen<br />
Sentiment is similar by brand, Co Pilot more negative<br />
Further analysis indicates issues and points for action e.g. Problem mentioned in more posts for Co-Pilot<br />
What we offer<br />Full Service Social Media Monitoring: <br />Consultation and Set-Up (mandatory). <br />Report Development (mandatory). <br />Monitor daily alerts (optional). <br />The following can be discussed upon request: <br />Engagement (optional). <br />Strategy Audit (optional). <br />Strategy Development (optional). <br />