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2015 State of Social Business

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Keynote presentation at the Digital Marketing Financial Services Summit.

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2015 State of Social Business

  1. 1. Social  Evolu+on   Coping  Strategies  to  Address  Social   Media  Trends  and  Disrup+ons     Ed  Terpening,  Industry  Analyst  
  2. 2. Social Media Continues Evolution to Social Business Social Strategists are less focused on scaling social, but rather integration. I’ll present strategies to cope with 4 key barriers strategists face today! 2!
  3. 3. Trend: social media less “Bright Shiny Object” and increasingly a business tool to integrate! Strategists less focused on new social tools, but rather, integrating social across silos and with emerging Digital plans! 3!
  4. 4. 2015 Internal Priority Trends! Strategists are less focused on scaling social business, but instead focused on integrating social + digital, content strategy, and using social insights! 4!
  5. 5. 2015 External Priority Trends! Engagement with customers is table stakes. Next focus: employee advocacy and sales force enablement! 5!
  6. 6. These priorities disrupt the organization: they require cross-functional involvement! Top Trends Marketing Comms Digital Support Sales HR Integrate Social & Digital ✔ ✔ ✔ ✔ Use Social Data Insights to Inform Decision- Making ✔ ✔ ✔ ✔ ✔ ✔ Develop Employee Advocacy Programs ✔ ✔ ✔ ✔ ✔ Enterprise Content Strategy ✔ ✔ ✔ ✔ ✔ ✔ Empower the Sales Team ✔ ✔ ✔ ✔ Use Social for Employee Engagement Internally ✔ ✔ ✔ 6!
  7. 7. Yet, cross-functional involvement varies! Cross- functional collaboration and alignment key, but lacking! 7!
  8. 8. Disruption: trending priorities beyond the typical CMO’s scope! Digital Teams are increasingly leading social business! 8!
  9. 9. Coping Strategies for 4 Key Trends! ·  Most of the barriers social business strategists face require engaged leaders working together to close gaps between departments.! ·  Here are 4 key gaps we found in our research and how you can prepare. 9!
  10. 10. Coping Strategies þ  Audit existing CX gaps between social and other digital platforms! þ  With peers: join or form a cross-functional team and seek leadership commitment (connect to an existing DT team?)! þ  With leaders: propose a leadership workshop to build understanding and alignment! 10!
  11. 11. Digital Integration Case Study: Discover Card! Discover invested in journey mapping to visualize the customer lifecycle across platforms to learn customer behavior! They have an “experience management” layer that sits at the very top among C-suite executives! 11!
  12. 12. Coping Strategies þ  Raise Confidence: Leaders may not understand the need for their involvement. Dispel the “this is Marketing’s job” myth by educating them! þ  Start Safe: Social media is experiential: give leaders the opportunity to blog internally and engage with employees! þ  If you have a Digital Transformation effort, connect to it to reach leaders paying attention to DT.! 12!
  13. 13. Don’t worry, slow your pulse!! ! An engaged leader doesn’t mean they tweet for you! 13!
  14. 14. Case in point: Ginni Romett! ·  The Chairman, President and CEO of IBM has a Twitter handle, but doesn’t tweet, even thought she’s lead IBM to strategic alliances with companies like Twitter! ·  She maintains a laser like focus on her larger goals, recognizing that there’s a big difference between a strategic embrace of the new digital world and superficial symbolism*! “Engagement” can have an internal focus Leaders choose the type of engagement right for their organization! Photo source: Wikipedia! * Source: Charlene Li, “The Engaged Leader”, Wharton Digital Press, 2015! 14!
  15. 15. Coping Strategies þ  Raise the risk: HR and Compliance may not understand the risk inherent in employee advocacy, involve them early on! þ  Sell the program through the Internal Communications team! þ  Get leaders talking: See if your CMO is willing to start a Steering Committee, or other forum to involve HR! 15!
  16. 16. Case in Point: Pitney Bowes! ·  “It’s important to realize that this is a partnership,” says Social Media Director Bart Casabona1! ·  Legal and HR should be consulted and part of any company social media program1! ·  In the first 6 months, the program showed results: 100 active employees, 8100 social shares, 4.7M impressions, 24K clicks, and 4,750 reactions2! Employee Advocacy is a partnership! 1. Source: Jeannine Wheeler, “Pitney Bowes Goes Social — So Can You”! 2. source: Dynamic Signal, “Social Employees: Your Secret PR Weapon”, April 21, 2015 ! Employee Ambassador Program 16!
  17. 17. Coping Strategies þ  Social Business Committees: Cross-functional teams can be very effective at raising understanding of your strategy and seeking a path to deeper engagement with Advertising! þ  Adopt Rigor: Apply the same rigor in buying and measuring social ads! 17!
  18. 18. Insights to grow: Q&A! ·  Do these trends and ring true?! ·  What barriers do you face today?! ·  How have you and your organization overcome today’s social business barriers?! 18!
  19. 19. 19! Ed Terpening Industry Analyst ed@altimetergroup.com! Twitter: @edterpening! Free full report download available at altimetergroup.com!

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