Social Media and your business
Ryan McCormack :: May 2010
http://bitstrategist.com



                                 1
Outline

•  Marketing is evolving

•  Businesses need an integrated strategy

•  Social media is a critical step

•  Summa...
Marketing is evolving
                    




           Ryan McCormack :: July 2010 :: http://bitstrategist.com
In the beginning…
                




         Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
And then it got noisier…
                       




             Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Trust us…




             Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
…and then came the Internet
                          




              Ryan McCormack :: July 2010 :: http://bitstrategi...
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
…and things got social
                     




            Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
Businesses can evolve by
                       
      pursuing an
                
  integrated strategy
                ...
Product Strategy
                  Your products or
                services, competition




                            ...
Integrated
                                                                        Strategy
                              ...
The new kid on the block:
     Social strategy
                   



             Ryan McCormack :: July 2010 :: http://b...
Social media is not a fad.
                          
There is real impact and ROI.
                           



       ...
Twitter explodes across the globe




                            •  106,000,000 registered users
                        ...
Facebook becomes a juggernaut




                   Ryan McCormack :: July 2010 :: http://bitstrategist.com
Crowds help companies build better widgets

                                                     • 12,000+ ideas generated...
Social media drives revenue




 Dell: > $7MM in direct
 revenue from Twitter


                                          ...
Social campaigns drive engagement
                                                     Users visit
                       ...
Social media drives leads




          Lead generation nearly DOUBLES for SMB




                                Ryan Mc...
It’s moving beyond competitive advantage



                             80% of companies
                             sur...
The promised land has a few mines




                     Ryan McCormack :: July 2010 :: http://bitstrategist.com
Social media is
                 
an evolved ecosystem
                   



             Ryan McCormack :: July 2010 :: ...
Ryan McCormack :: July 2010 :: http://bitstrategist.com
I know…I’ll just sign up for




         Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
The digital ecosystem
                                                                 Multiple destinations and
    Socia...
Social media is a
                
  critical step
              



         Ryan McCormack :: July 2010 :: http://bitstr...
Ryan McCormack :: July 2010 :: http://bitstrategist.com
A four-step program




          Ryan McCormack :: July 2010 :: http://bitstrategist.com
1.  Goals: Set your goals


2.  Strategy: Devise a plan


3.  Execution: Make it operational


4.  Evolution: Measure, refi...
“If you don’t know where
you’re going, you’ll probably
end up somewhere else.”

– Les Brown
                              ...
Step 1: Set your goals
                     




            Ryan McCormack :: July 2010 :: http://bitstrategist.com
Goals come in a few flavors
                                   Awareness




    Money


                                  ...
Don’t confuse goals for strategy




                     Ryan McCormack :: July 2010 :: http://bitstrategist.com
“All men can see the tactics
        whereby I conquer, but what
        none can see is the strategy out
        of which...
Step 2: Devise a strategy
                        




             Ryan McCormack :: July 2010 :: http://bitstrategist.com
A social media strategy framework

               No relationship
•  Listen


•  Talk
                           Increasin...
Listen: What are people saying about you




     Twitter search




                          Facebook wall posts

      ...
Talk: Communicate with people




                                       Response in comments
                            ...
Engage: Forge deeper connections


                      An angry customer tweets




Head of North American
customer supp...
Embrace: Let your customers change you




 Starbucks                                                    Customers engage
...
“Strategy without tactics is the
slowest route to victory.”

– Sun Tzu




                                   Ryan McCorma...
Step 3: Make it operational
                          




              Ryan McCormack :: July 2010 :: http://bitstrategi...
Scotty, I need
a viral video
in 3 minutes
or we’re all
dead!
                                 I can’t do it,
             ...
Build your social media team




                    Ryan McCormack :: July 2010 :: http://bitstrategist.com
Ryan McCormack :: July 2010 :: http://bitstrategist.com
How deep is this
           pool, anyway?




Ryan McCormack :: July 2010 :: http://bitstrategist.com
Don’t forget to keep
                        winding.




Social media initiatives




                       Ryan McCorma...
“It is not the strongest of the species that survives, nor the most intelligent
that survives. It is the one that is the m...
Step 4: Evolution
                




         Ryan McCormack :: July 2010 :: http://bitstrategist.com
Measure. Refine. Repeat.




                   Ryan McCormack :: July 2010 :: http://bitstrategist.com
The laws of business physics still apply
                                       




                     Ryan McCormack :...
Choose metrics carefully

                    •  Web site traffic
                    •  Brand awareness
                   ...
How to assess impact




                   Ryan McCormack :: July 2010 :: http://bitstrategist.com
Summary




    Ryan McCormack :: July 2010 :: http://bitstrategist.com
Integrated
                                                                        Strategy
                              ...
Social media in four steps

1.  Goals: Set your goals

2.  Strategy: Devise a plan

3.  Execution: Make it operational

4....
So what’s next for you?




            Ryan McCormack :: July 2010 :: http://bitstrategist.com
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Integrated Social media strategy

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Social media is the buzzword of the day, but do you know what it means to your business? And do you know how to integrate it with your other online activities? This presentation provides and integrated strategy framework, along with a clear approach to developing an effective social media strategy.

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Integrated Social media strategy

  1. 1. Social Media and your business Ryan McCormack :: May 2010 http://bitstrategist.com 1
  2. 2. Outline •  Marketing is evolving •  Businesses need an integrated strategy •  Social media is a critical step •  Summary Ryan McCormack :: July 2010 :: http://bitstrategist.com
  3. 3. Marketing is evolving Ryan McCormack :: July 2010 :: http://bitstrategist.com
  4. 4. In the beginning… Ryan McCormack :: July 2010 :: http://bitstrategist.com
  5. 5. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  6. 6. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  7. 7. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  8. 8. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  9. 9. And then it got noisier… Ryan McCormack :: July 2010 :: http://bitstrategist.com
  10. 10. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  11. 11. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  12. 12. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  13. 13. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  14. 14. Trust us… Ryan McCormack :: July 2010 :: http://bitstrategist.com
  15. 15. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  16. 16. …and then came the Internet Ryan McCormack :: July 2010 :: http://bitstrategist.com
  17. 17. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  18. 18. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  19. 19. …and things got social Ryan McCormack :: July 2010 :: http://bitstrategist.com
  20. 20. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  21. 21. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  22. 22. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  23. 23. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  24. 24. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  25. 25. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  26. 26. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  27. 27. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  28. 28. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  29. 29. Businesses can evolve by pursuing an integrated strategy Ryan McCormack :: July 2010 :: http://bitstrategist.com
  30. 30. Product Strategy Your products or services, competition Brand & Content Strategy Social Strategy Who you are and How you listen to how you communicate and engage with about yourself your customers Ryan McCormack :: July 2010 :: http://bitstrategist.com
  31. 31. Integrated Strategy and Design Product Strategy Your products or Experience services, competition Design Brand & Content Strategy Social Strategy Who you are and How you listen to how you communicate and engage with about yourself your customers Ryan McCormack :: July 2010 :: http://bitstrategist.com
  32. 32. The new kid on the block: Social strategy Ryan McCormack :: July 2010 :: http://bitstrategist.com
  33. 33. Social media is not a fad. There is real impact and ROI. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  34. 34. Twitter explodes across the globe •  106,000,000 registered users •  300,000 new users / day •  600,000,000 searches / day •  100,000+ applications •  3 billion API requests / day Ryan McCormack :: July 2010 :: http://bitstrategist.com
  35. 35. Facebook becomes a juggernaut Ryan McCormack :: July 2010 :: http://bitstrategist.com
  36. 36. Crowds help companies build better widgets • 12,000+ ideas generated • 325+ ideas implemented • 660,000+ votes for ideas • 1 year = 70,000 ideas • 60 products launched • 100,000+ comments Ryan McCormack :: July 2010 :: http://bitstrategist.com
  37. 37. Social media drives revenue Dell: > $7MM in direct revenue from Twitter Online reviews drive 15,000 additional product sales in first year Ryan McCormack :: July 2010 :: http://bitstrategist.com
  38. 38. Social campaigns drive engagement Users visit different blogs Plant a seed for a “blog hunt” Prizes and rewards for Clues are revealed… winners, traffic for bloggers • 2.5MM views on blogs • HUGE rise in Alexa ranking And people find their way “home” Ryan McCormack :: July 2010 :: http://bitstrategist.com
  39. 39. Social media drives leads Lead generation nearly DOUBLES for SMB Ryan McCormack :: July 2010 :: http://bitstrategist.com
  40. 40. It’s moving beyond competitive advantage 80% of companies surveyed will use blogs, Twitter, customer reviews and Facebook by the end of 2010 Ryan McCormack :: July 2010 :: http://bitstrategist.com
  41. 41. The promised land has a few mines Ryan McCormack :: July 2010 :: http://bitstrategist.com
  42. 42. Social media is an evolved ecosystem Ryan McCormack :: July 2010 :: http://bitstrategist.com
  43. 43. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  44. 44. I know…I’ll just sign up for Ryan McCormack :: July 2010 :: http://bitstrategist.com
  45. 45. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  46. 46. The digital ecosystem Multiple destinations and Social Shared information Photos news Blogs Video Location Discussion Your forums Web Social site networks Microblogs Social Your Collaborative Brand is bookmarking distributed production Ryan McCormack :: July 2010 :: http://bitstrategist.com
  47. 47. Social media is a critical step Ryan McCormack :: July 2010 :: http://bitstrategist.com
  48. 48. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  49. 49. A four-step program Ryan McCormack :: July 2010 :: http://bitstrategist.com
  50. 50. 1.  Goals: Set your goals 2.  Strategy: Devise a plan 3.  Execution: Make it operational 4.  Evolution: Measure, refine, repeat. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  51. 51. “If you don’t know where you’re going, you’ll probably end up somewhere else.” – Les Brown Ryan McCormack :: July 2010 :: http://bitstrategist.com
  52. 52. Step 1: Set your goals Ryan McCormack :: July 2010 :: http://bitstrategist.com
  53. 53. Goals come in a few flavors Awareness Money Ideas Reputation Ryan McCormack :: July 2010 :: http://bitstrategist.com
  54. 54. Don’t confuse goals for strategy Ryan McCormack :: July 2010 :: http://bitstrategist.com
  55. 55. “All men can see the tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.” – Sun Tzu, The Art of War Ryan McCormack :: July 2010 :: http://bitstrategist.com
  56. 56. Step 2: Devise a strategy Ryan McCormack :: July 2010 :: http://bitstrategist.com
  57. 57. A social media strategy framework No relationship •  Listen •  Talk Increasing level of engagement and trust •  Engage •  Embrace Deeper relationship See also: Groundswell (Li & Bernoff, 2009) Ryan McCormack :: July 2010 :: http://bitstrategist.com
  58. 58. Listen: What are people saying about you Twitter search Facebook wall posts Ryan McCormack :: July 2010 :: http://bitstrategist.com
  59. 59. Talk: Communicate with people Response in comments from company Blog article Ryan McCormack :: July 2010 :: http://bitstrategist.com
  60. 60. Engage: Forge deeper connections An angry customer tweets Head of North American customer support listens… …and engages Ryan McCormack :: July 2010 :: http://bitstrategist.com
  61. 61. Embrace: Let your customers change you Starbucks Customers engage builds a community platform Starbucks listens and takes action Ryan McCormack :: July 2010 :: http://bitstrategist.com
  62. 62. “Strategy without tactics is the slowest route to victory.” – Sun Tzu Ryan McCormack :: July 2010 :: http://bitstrategist.com
  63. 63. Step 3: Make it operational Ryan McCormack :: July 2010 :: http://bitstrategist.com
  64. 64. Scotty, I need a viral video in 3 minutes or we’re all dead! I can’t do it, Captain! The social media engineering team is offline!! Ryan McCormack :: July 2010 :: http://bitstrategist.com
  65. 65. Build your social media team Ryan McCormack :: July 2010 :: http://bitstrategist.com
  66. 66. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  67. 67. How deep is this pool, anyway? Ryan McCormack :: July 2010 :: http://bitstrategist.com
  68. 68. Don’t forget to keep winding. Social media initiatives Ryan McCormack :: July 2010 :: http://bitstrategist.com
  69. 69. “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” – Charles Darwin Ryan McCormack :: July 2010 :: http://bitstrategist.com
  70. 70. Step 4: Evolution Ryan McCormack :: July 2010 :: http://bitstrategist.com
  71. 71. Measure. Refine. Repeat. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  72. 72. The laws of business physics still apply Ryan McCormack :: July 2010 :: http://bitstrategist.com
  73. 73. Choose metrics carefully •  Web site traffic •  Brand awareness •  Engagement with prospects •  Engagement with customers •  Brand reputation •  Prospect lead quality •  Revenue •  Prospect lead volume •  Useful product feedback Ryan McCormack :: July 2010 :: http://bitstrategist.com
  74. 74. How to assess impact Ryan McCormack :: July 2010 :: http://bitstrategist.com
  75. 75. Summary Ryan McCormack :: July 2010 :: http://bitstrategist.com
  76. 76. Integrated Strategy and Design Product Strategy Your products or Experience services, competition Design Brand & Content Strategy Social Strategy Who you are and How you listen to how you communicate and engage with about yourself your customers Ryan McCormack :: July 2010 :: http://bitstrategist.com
  77. 77. Social media in four steps 1.  Goals: Set your goals 2.  Strategy: Devise a plan 3.  Execution: Make it operational 4.  Evolution: Measure, refine, repeat. Ryan McCormack :: July 2010 :: http://bitstrategist.com
  78. 78. So what’s next for you? Ryan McCormack :: July 2010 :: http://bitstrategist.com

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