Developing a Social Business Strategy


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Presentation by Richard Margetic to the National Black MBA Association September 2012, Indianapolis. ~Two hour workshop covered the creation of a core social media strategy for small business.

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  • Humans are social beings. The motives to engage, relate, share, be accepted are at the base of all social activity. In this sense, the digital world is no different than the physical.
  • People think there’s a fundamental paradigm shift with the advent of social. There is a paradigm shift, but not at the fundamental level, which is constant.
  • The core social strategy doesn’t change based on the network
  • The other sometimes difficult aspect of this tidal wave of customer connectivity and commentary is that people are having conversations…they are not necessarily talking business or business lingo, even though it may be about your business.These conversations are like a cocktail party. People chat at the cocktail party about the weather in one group, in another corner they could discussing personal vacations and hotels where they had a great time, or in another corner about very personal experiences, recommendations to a friend, or simply sharing what they thought was interesting today, or their plans for a future moveThe same is true about the conversations and commentary about our businesses on the Web. The social media discussions about your company or your business sector are not neatly parceled and aligned with business functions, necessarily.A chat about using my 7 year old Dell to tweet on could be someone raving about being a loyal Dell customer, they could be bragging about the quality of their Dell in comparison to a friends 2 year old machine ...or it could simply be a fact like its hot outside today. Content and context of conversations have a value….but what how and fitting that into any business process can be a little messy
  • Optimize for business objectives
  • Developing a Social Business Strategy

    1. 1. Developing a Social Business StrategyTurning fans and followers into commerceNBMBAASeptember 26th, 2012
    2. 2. Why Social
    3. 3. ObjectivesAn example High-level Generate word of mouth among UK small/medium Create buzz among top small/medium business Acquire influencer generated content forsocial strategy success. 1-3 objectives businesses for Vostro 130 influencers other platforms are sufficient.This chart is model of asuccessful social strategy Goalsplan. Measures of Increase small Improve share of Earn at least 2M success. business Increase blogger voice from key digital Each objective Facebook fans by outreach by 150% blogger engagements• The objectives are simple has at least 1 100% influencers by 35% and clear. numeric goal.• The goals are measurable. Strategies• The strategies are Connected Influencers to Sponsor deliberate thinking. small/medium Seed V130’s into hands of key post Trade Gather real time feedback on the How the business & Secrets on above goals influencers V130 blogger events Facebook• The tactics are complete will succeed. but not overbearing. Tactics Plans for Syndicate content London Blogger Personal delivery Facebook Trade action. between Meet Up of V130 to Secrets landing The Facebook & January 2010 selected bloggers page on desktop components Twitter of strategy fulfillment. Trade Secrets Federation of Personalized Turn best trade conversations Small Businesses videos, with “007” secrets into an happening on February 2010 theme eBook & share blogs V130 loaded with MS Home & Office plus Tweetdeck
    4. 4. All social activities share the same roots Global Marketing
    5. 5. Smart business fundamentals never change5 Confidential Global Marketing
    6. 6. Social roots +businessfundamentals= core socialmedia strategy Global Marketing
    7. 7. Core social strategy doesn’t change by platform• Listen, Engage, Act• Create ongoing relationships• Be transparent• Add value• Cross platform coordination and integration• Leverage real time business intelligence: analyzing the global social brain Having a core social media strategy ensures that you’re ready for any new platforms Global Marketing
    8. 8. Listening: Who, What, Where Who Listening to who’s talking tells you who your advocates are, your influencers, your ranters and your ravers. This forms the basis of all relationship marketing What What users are talking about gives you your marketing keywords, conversations, messaging points, identifies customer pain points, impacts search results. This is the basis of content marketing. Where Where customers are talking tells you which platforms you need to create a presence in, market to, amplify messages in and where to put your ad dollars Paid Marketing Content Marketing Relationship Marketing8 Global Marketing
    9. 9. It is your choice to listen to your customers9 Confidential Global Marketing
    10. 10. Easy Listening• Google Alerts• YouTube• LinkedIn Signals• Twitter – For real time results, try Twitterfall• Google+• Pinterest – To see if anyone has pinned your content:<yourcompanyURL>• Slideshare Global Marketing
    11. 11. Conversatio ns are conversation s not Business Where to find you segments Share with others how & why you have great products/services Graphic thanks to @Gapingvoid11 Global Marketing
    12. 12. Prioritizing your social presence Has the most influence on BABY brands Has the most influence on Music brands Has the most influence on ELECTRONICS brands Global Marketing
    13. 13. Leverage Platform Functionality Platform Strengths Challenges • Brand pages build customer advocacy • Evidence of some Facebook Social networks • Improves SEO “fatigue” • Drives traffic to .com sites and outposts • Engagement requires consistent • Improving demographics presence and resources • Social media platform leaders • Limited metrics available for • Strong WOM potential administrators • Easy and fast engagement • Limited messaging size Microblogs • Provides early warning if there is an • Can be more noise than signal issue with a product or company • Extremely short shelf-life of • Drives traffic to .com sites and outposts messages • Strong mobile usage • Strong WOM potential • Easy distribution for multimedia • Commenters are less advanced Video blogs • Improves SEO • Little redirect to .com sites and • Strong branding capability outposts • Strong WOM potential • Must create original content • Videos can play on mobile devices • Difficult to localize Global Marketing
    14. 14. Leverage Platform Functionality Platform Strengths Challenges • Ideal for finding active professionals • Not as pervasive as Facebook • Can network with targeted customers • Branding is mostly oriented Professional • Builds brand awareness around individuals vs. companies • Showcases thought leadership • Have conversations using features like Groups and Answers • Easy to share graphic images • Low click-through rate to Photosharing • Drives traffic to .com sites and outposts branded hub • Improves image SEO • Requires focused keyword • Grow and connect communities tagging around specific products • YouTube for presentations • Making Dell content stand out Presentations • Brandable channel for content • Requires focused keyword • Drives traffic to .com sites and outposts tagging • Lead capture featured tied to Salesforce (Slideshare) Global Marketing
    15. 15. Social search Social engagement Social commerce Optimize Spread Amplify Reach Acquire Create Sell Build Sell on SEO content reach influencers fans advocates products margins scarcity Facebook RenRen Twitter Sina YouTUbe LinkedIn Flickr SlideShare Scribd Quora Blogs/RSSlocation Geo-
    16. 16. Customer Sharing and SEO• Umph analysed 100 random online entertainment, heal th, business, techn ology and general news stories and looked at how many times each story was shared by Facebook, Google+ , LinkedIn and Twitter users.Umpf study August 2012 Global Marketing
    17. 17. Social and the sales funnel: B2B Analyst firm Quora SiriusDecisions Geo-social estimates that LinkedIn Decentralized control by 2015, more than 75% of leads will be Facebook YouTube sourced Customer through videos inbound Flickr channels like Blogs Twitter Case social media. Slideshare studies This chart shows where Viral Webinars videossocial platforms and content Analyst Centralized control types typically Press reports Email reside in the releases sales funnel. Articles Interactive demos Analyst reports How-to videos Widgets Awareness Consideration Global Marketing
    18. 18. Intersection of Customer & Business value is wheresocial media worksProduct Development Marketing Online Presence• Feedback Loop • Demand Forecast • Ratings & Reviews• Early Warning • Lead Generation • Communities• New Product • Message Reach • Customer Stories Ideation Sales Customer Service Communication• Leads• Collaboration • Listening • Rich Media• Thought Leadership • Support Widgets • Brand Reputation• Blogs • Outreach • Influence • Reputation Global Marketing
    19. 19. Look across the entire customer lifecycle. SocialMedia delivers business benefits everywhere … • Insight: Social media improves Dell’s reach and share of voice • Insight: SM keeps customers engaged, provides solutions and improves loyalty. • Insight: Established causality between social media activity and purchase• Insight: Social media based Our External Communities Communities support improves sentiment and correlates with higher revenue • Insight: Social Media provides high Business Value and contributes to demand gen vehicle Global Marketing
    20. 20. Identify your business objective Choose the metrics that help you measure & evolve • Where customers are • Primary social media focus • Do they like/love you? • Sentiment • What are they saying • Listen, learn and improve business • They recommend you • Your fans deserve appreciation • Share links with friends • Advocates deserve attention too • Rating & Reviews • Inform your products • Publicly complaining • Showing you care about customer • Going to your website • Purchase or deeper interest20 Global Marketing
    21. 21. Create your own strategic plan• Before you launch any social activity, create a strategic plan for it. The plan on this page uses the OGST format: Objectives, Goals, Strategies and Tactics. Use these boxes to define your plan.