Social Business Intelligence Assessing Your Social Strategy
“If you don’t know where you are going any road will get you there” - Anon“Logic will get you from A to B. Imagination will get you anywhere” - Will B “Strategy without execution is just an hallucination” - Albert Einstein
Webinar SeriesDate Title Completed Social Business Intelligence – An Introduc0on Today Social Business Intelligence – Assessing your Social Strategy Thursday 21/06 1pm Social Business Intelligence – Assessing your Compe00on Thursday 05/07 1pm Social Business Intelligence – Monitoring to Engagement Thursday 19/07 1pm Social Business Intelligence – Assessing the Major SMM Tools
Use Cases for Social Business IntelligenceØ Crisis ManagementØ PR & Reputation ManagementØ Influencer ProgramsØ Improve customer serviceØ Competitor intelligenceØ Partner intelligence
Use Cases for Social Business Intelligence Ø Improve product and service development Ø Improve target marketing Ø New Product Launch research Ø Improve Customer Loyalty Ø Policy or initiative review
AgendaØ An Eight Point Framework for Social BusinessØ Business Goals for Social StrategyØ The role of Assessment in StrategyØ Recommended scope of AssessmentØ Role of Social Business IntelligenceØ SummaryØ More Resources
8 Point Framework for Social Business 1.Assess 8.Monitor 2.Strategise Social Business 7.Engage 3.Create Framework 6.Share 4.Protect 5.Participate
What is a Strategy?Ø “A plan of action or policy designed to achieve a major or overall goal or aim”Ø “A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem”Ø Requires two key pieces of information: • Understanding of the goal or aim • Understanding of where you are now
Fools Gold ‘Your business doesn’t plug into social media, you plug social media into your business’Organisations that take this approach achieve:Ø Executive support to incorporate social media into the mix of tactics, spend and programs across the board.Ø Targets associated with the business goals.Ø Can always show the ROI of a programØ Gets way beyond the buzzwords to focus on the outcomes.Ø Adding value way beyond marketing to customer service and support; product innovation, talent acquisition, employee satisfaction and more. http://igo2group.com/blog/fools-gold-5-ways-social-business-strategy-beats-social-media-strategy/
Business Goals for Social Strategy Brand Health Innovation Marketing Management Optimisation Employee RevenueEngagement Generation Ecosystem Operational Engagement Efficiency Customer Service & Support
Role of an AssessmentØ Establish a baseline of current data and intelligence • What conversations? • Where are they occurring? • Who is influential? • Why are they happening? • What is being said? • What is the sentiment ? • What is my share of voice?Ø Where am I now and how far is that from my current goals?Ø Periodic reassessment current in relation to goals and objectivesØ How has this position changed since the last assessment?
Corporate Social Media Assessment Ø The assessment helps to understand the current and potential level of SOCIAL ENGAGEMENT . Ø Understanding the socio- economic landscape of: Ø Current and prospective customers Ø Your own brand and team Ø Partners Ø Competitors
1. Assess 8.Monitor 2.Strategise Assessment Scope7.Engage 3.Create 6.Share 4.Protect Ø Brand: company or 5.Participate organisation, products and services, team Ø Competitors Brand Customers (You) Ø Partners Ø Customers Ø Keywords Plus: Partners Competitors Ø Presence Ø Social architecture Ø Engagement
Assessing your brand Brand (company or organisation,Customers products and services, team) Partner Competitor
Brand assessment Ø Places and spaces brand is discussed Ø Brand reflection and sentiment Ø Team identification and engagement Ø Product and/or service-specific brand assessment Ø Brand presence, identifying brand managed places and team presence Ø Text Analytics to identify key words and phrases used in conjunction with the brand, products and services
Results to search for…Ø Emotions and sentiments around general brand: • How is your company seen in the market? • What are the emotions around specific product lines? BrandØ Specific feedback: Customer (You) • Actual statements – important for improving or advocating your brand presenceØ Team-mates/executive presences in the social web: • Approachability, network strength Partner CompetitorØ Places & spaces where team is active and engaged: • This may be used to make a coverage comparison with the customer analysis.
Customer landscapeØ Identify relevant places and spaces - search for existing, previous or future customers in person: • Look for people you know (first, last name) • Look for networks of relevant people • Look for people in relevant companies Customer Brand • BUT LOOK FOR PEOPLE (You)Ø Identify your customers’ challenges, topics, excitement and frustrations, the issues and sentiment – based on the people you defined Partner CompetitorØ Identify the key influencersØ Seek relevant industry influencers for future engagement
Results to search for….Ø Names of people who are vocal about what they want and what they are frustrated with …“need help with”Ø Active users, respected experts, trusted influencers and other relevant people in your ecosystem …“experience with” Customer Brand (You)Ø Specific feedback, inputs, statements relevant to improving or advocating your products and services …”not as good as” #failØ Specific issues your customers and prospects have - directly related or completely unrelated Partner Competitor to your products and servicesØ Insight in how people use your products and services, why they use it that way and insight into adjacent products and servicesØ A list of places and spaces where your market is really active in the social web
Partner AssessmentØ Places and spaces where partners are presentØ Partners often manage the end customer relationship • Their social presence consistent with Customer Brand (You) your own? • Social architecture aligned?Ø Identify partners’ topics and 2nd degree ecosystem (the partners’ customers), those discussions and sentiments Competitor PartnersØ Identify the key individuals per partners and main influencers (teams and individuals)Ø Review amplification and links
Results to search for…..Ø Names of people from partners and alliances who are vocal in the social web • Get active contributors, respected experts and influential opinion leadersØ Understand the issues your partners are Brand Customer (You) dealing with – their own and their customers’ issuesØ Emotions, sentiments around partnersØ Specific feedback, inputs and statements relevant to improving or advocating your Competitor brand and partner presenceØ Places and spaces partners and their Partners customers (your indirect customers) are active and engagedØ Alignment of overall social presence
Competition AssessmentØ Places and spaces competitors are activeØ Competitors’ customers activity, sentiment and discussion BrandØ Identify the influencers of the competitors’ Customer (You) teams and those of their partnersØ Identify the competitors’ partners activitiesØ Facts supporting competitive SWOTØ Identify key employees of competitors and the key social profiles PartnerØ Identify competitors keyword terms and Competitor campaigns
Results to search for…Ø Competitors’ most active team members, names customer & partners & alliances i.e. contributors, users, influencers etc. Brand Customer (You)Ø Understanding issues your competitors are dealing with – their own and their customers’ issues PartnerØ Emotions, sentiments around their Competitor brand, products, services, teamsØ Places and spaces they and their entire ecosystem is present
Role of Social Business IntelligenceØ Good tools will…. • Simplify your research • Guide the assessment of keywords and terms through Text Analytics • Identify key influencers • Provide Share of Voice analysis • Provide engagement metricsØ If a first time assessment you will need historical capability
Why is the Assessment so important?Ø We need to know where our customers are before we define how we engage with them - especially if at the beginning of the social business journeyØ We need to understand what our customers really care about before we tell them what our solution may be – how we explain our valueØ We need to understand the reality of our brand perception before we try to grow brand recognitionØ We need to understand what partners, competitors and other market constituencies do before we create a strategy.
Assessment Outcomes Ø What are we going to do with the results? Ø Create a social media SWOT analysis • What does the market say is our strength • What appears to be a weakness • Identify opportunities • Discovering threats Ø Define or refine our Social Business Strategy Ø Develop or refine our Social Business Plan Ø Execute the plan together with the ecosystemØ What do we expect? Ø Names and photos, users, influencers, stars Ø Statements, sentiments, opinions, feedback Ø Places and spaces, usage and importance Ø Alignment / divergence with corporate directions Ø Partner potential Ø Competitive landscape
Summaryü A superior social assessment will encompass all elements of your ecosystemü An assessment will result in lots of data – focus on key elements like sentiment and influencersü It’s all about your goalsü Do not confuse a social assessment with a business reviewü Good Social Business Intelligence tools will make your assessment more effective.
Suggested Supplementary AnalysisØ We supplement analysis with interviews of key stakeholdersØ We review the brand’s social presence by looking at the consistency of presence and linkage for amplificationØ Review social architecture • Many organisations have lots of ‘real estate’ – is it aligned?Ø Review social governance • policy, coordination, risk management • how to prevent “social disasters” • what the Board needs to know each monthØ Link back to business goals and objectives.
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