This document discusses developing an effective social media strategy for corporate America. It emphasizes the importance of establishing executive level support, partnering internally across departments, developing brand irresistibility, and establishing metrics to measure social media's impact on brand value and revenue. The strategy outlined includes setting a baseline of current brand awareness and reach, developing comprehensive planning with partners that understand the industry, and integrating social media efforts with existing corporate systems and regular audits for ongoing improvement.
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Brand Value and Social Media Strategy
1. Brand Value, Brand
Strategy and Big Business
Social Media Planning for Corporate America
Oz Sultan - Corporate + Digital Strategist
@ozsultan | #Module09
2. Today we are connected
more than ever.
Ubiquity: Facebook Connect, Open Social, FindMeOn, Friendfeed
Folksonomy / Social Tagging: Digg, Del.icio.us, IBM Lotus Connections
Microblogs: Twitter, Yammer, Laconica, Plurk, Tinker
SN: Facebook, Bebo, Hi5, MySpace, Xing
Enterprise Search: Vivisimo, Endeca, FAST, Google, Autonomy
Aggregation Platforms: Force.com, Change.gov, Askelf.com
E-Commerce: ATG, BEA, PHP, .NET, Open Source
Intranet / Web: Forums, Groups, Wikis, Intranets, Community Portals
Media: Podcasts, Vlogs, Flicker, Tumblr, Web Video, HD, UGC
3. The Issue: How do you elevate
Social Media to the Business
Conversation?
A lack of Creativity [Internal, Agency or Otherwise] has led to
strategies that eventually undermine the business, rather than
foster it.
The Brand needs to be understood and managed as an asset
Brand Trust ratings have dropped 50% over the last 9 years
Brand Quality perceptions fell by 24% over the past 13 years
Developing Brand Value is a key to success
Consumers Are Driven by Research, Not Advertising
The Conversation must be made an executive level issue
SOURCE: BAV 1993 - 2007, THE BRAND BUBBLE
4. The Corporate Brand is an
Intangible Asset that determines
your Market Value.
Not all brands are equal in driving financial Value
IBM for example, has valued their brand as high as $64 Bn in the
last few years
Brand Irresistibility is a cornerstone in developing a Strategy that
will allow you to drive brand value while improving the bottom line
Irresistible Brands embody badge value, possess innate purpose,
can reinvent, engage customers on their terms, don’t force
devotion and move culture
Brand Irresistibility may help defray financial losses versus your
market competitors for up to 2 Quarters!
SOURCES: BAV 1993 - 2007, THE BRAND BUBBLE, THE GRAPH
5. Existing Brand Value
needs a Baseline.
BAV DEMO (www.thebrandbubble.com)
Special Thanks to John Gerzema for permission to
use the BAV and BAV data.
6. Social is the next wave of Brand
Equity to tie to Revenue and
Valuation.
Tools are Nascent
BV impacts need
monitored
Demographic
segments are key
Voice alone,
however is not an
entirely accurate
measure
SOURCE: IMMEDIATE FUTURE
7. The Graph is complex.
Brands
Friends
Context
Content
Context Edges
Edges
Context
Edges
You
Context
Edges
Context
Edges
Media
Locations
8. Now take the Networks
in context. LINKEDIN 76M 40M
MYSPACE BEBO
Brands
Friends
36M
75% of 18 - 24 yos are already on 1 or
more social networks
Context
Content
Context Edges
Edges
TWITTER
Context
35% of Adults engage in Social Edges
Networking
10M You
Context
HI5
Edges
Context
Future Growth is in the 35 - 55 yo Edges
Media
Locations
Demographic
60M
A Corporate Strategy for Success needs
FACEBOOK
to minimally possess data ties to existing
Corporate BI, CRM, and E-commerce
200M
Solutions
NETWORKS HAVE
Web services to ‘socialize’ brands are
SIGNIFICANT USER
emerging, but lack integration into the
OVERLAP
fabric of the social web
Asynchronous and Synchronous
communication paths need to be
understood and measured
SOURCES: FACEBOOK, VENTUREBEAT, COMSCORE, ADAGE, BEBO, PEW AMERICAN LIFE 2009
9. New Metrics Should Reveal
Insight or tie to Status Quo.
If you don’t have a baseline, ROI means Nothing.
Existing Metrics for Online and Offline Marketing must be evaluated
Remember: Social Media makes Customer Service, Trust and Marketing your Keys.
With an integrated Social Media Plan, Online Advertising becomes a technique tied to a
strategy, not the Strategy itself!
Understand what your existing BAV (if applicable) and Market reach is
ROI / ROBI should be tied to plan. New programs should “test the waters” before
setting hard and fast C-level expectations
Where currently applicable, BI tools or Corporate Information Systems should be
integrated with new technology(e.g. ORACLE BI, Hyperion, SAP XI BUS, etc)
Centralized data collection and Dashboards will aid in CSR, CR, Sales and Marketing
endeavors
This is a key topic I will be elaborating upon in the near future
10. Strategic Planning and Partnership
is necessary to ensure success.
Comprehensive Planning should leverage a partner that can translate the
complex Social landscape
Partnership between Marketing, Technology and a “blessing” by Legal is
fundamental to Success.
Yes, this is a C level conversation where the CMO needs involved
The Strategy is Costly, Implementation is cheap. Remember this with Social!
Only 25% of companies are spending more than $100k a year on social media
and it’s not yet a line item1
If you spend peanuts on social media, you’ll get…peanut butter–not filet
mignon–when it comes to seeing results1
Plan and spend, not spend and plan
SOURCES: 1:FORRESTER “SOCIAL MEDIA PLAYTIME IS OVER”
11. Synopsis
Establish C level Champions
Partner Internally (Marketing + Technology + Legal)
Engage someone who understands your Business and Industry
Establish your Baseline!
Develop Core Metrics and Leverage existing CIS systems where possible
Develop Irresistibility
Remember! Social requires constant touch points
Customer Service + Marketing + Irresistibility = Social
Perform Routine Audits
To parrot Forrester “Playtime is Over”
12. Thanks!
OZ SULTAN
CORPORATE + DIGITAL STRATEGIST
BLOG:WWW.NEWSOCIALECONOMY.COM
E: OZSULTANX@GMAIL.COM
T: @OZSULTAN
LINKEDIN: LINKEDIN.COM/IN/OZSULTAN
FACEBOOK: OZ SULTAN
ASW: OZ SULTAN
REMEMBER, YOUR PLACE IN THE SOCIAL ECONOMY IS UP TO YOU.