The document discusses using social media for business growth. It provides an example of a safety harness company that used social media and frameworks like the Customer Value Matrix and Quality Customer Growth Program to identify potential customers in neuroscience and optogenetics and position them on a matrix based on attractiveness and probability of success. This allowed the company to develop a targeted social media strategy to engage with and build relationships with the most valuable prospects.

1. Connect Champions Day Social Media for Sustained Business Growth Dr. Jim Hamill jim.hamill@ukonline.co.uk Alan Stevenson ast3v3nson@gmail.com October, 2010

2. Remit/Background Talk about non-traditional routes to market – especially international markets (my background is export marketing and international business) Used effectively, social media can help to break down SME growth barriers/ barriers to internationalization

3. Remit/Background Potential business benefits are wide ranging Market/Customer Knowledge & Insight Engagement & Reputation Management Enhanced Customer Experience and Loyalty Sales/Marketing Effectiveness, Efficiency and ROI Operations/ Internal Processes (open source and hosted apps) But the key words are ‘used effectively’

5. Agenda Key point summary A case example – using our ‘Customer Value Matrix’ and ‘Quality Customer Growth Programme’ General advice – ‘Things to remember about social media’ ‘Getting there’ – social media planning pays Social media is not just for B2C

6. B2B Use of Social Media 93% of business buyers believe all companies should have a social media presence 85% of business buyers believe companies shouldn’t just present information via social media – they should also interact and engage with them Source: Buzz Marketing http://www.futurelab.net/blogs/marketing-strategy-innovation/2010/09/17_compelling_and_highly_usabl.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Futurelab+%28Futurelab%27s+Blog%29

7. Key Point Summary

8. Key Point Summary OK – so we have a great new product or service; but how do we market and promote it? How do we ‘create the buzz’? Option 1: The Traditional Marketing 101 (‘4Ps’) approach Product development – Price/Differentiate – Market and Promote – Sell/Place Problem is... does anybody listen any more? Traditional/mainstream approaches to sales and marketing are declining in effectiveness

9. Source: The Future of Advertising, APA, 17/02/09 as published on Slideshare (www.slideshare.com)

12. New business models and new approaches to sales/marketing are required - based on:

13. Communities, networks, openness, peering, sharing, collaboration, customer empowerment, ‘think and act’ globally

14. Engage and energise – marketing as a two-way conversation

15. ‘Create the Buzz’

17. Interaction – actions they take – read, post, comment, reviews, recommendations

18. Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc

19. Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking Social Media Monitoring Tools –Audit, Assess, Impact

20. Monitor the Conversations Use Social Media Monitoring Tools to monitor online conversations relevant to your brand No or low cost tools such as Google Alerts, Yahoo Pipes, Social Mention, IceRocket, Blogscope, Blogpulse and ViralHeat More expensive and sophisticated tools such as Radian6, Alterian SM2, Sysomos Heartbeat and Infegy SocialRadar

21. The Three Key Questions

22. Three Simple Questions Who are our customers? Where do they hang out in social media? How can we best engage with and energise them?

23. www.mashable.com

24. New Approaches Required Especially true in International Marketing..... The Safety Harness Example

25. Safety Harness Company About Us: I am a manufacturer of safety harnesses for industrial use. My belay system is an innovative design It ensures that users (injured or not) are returned to ground safely. My target customers: Health & Safety Equipment Resellers; Health & Safety Consultants; Health & Safety Representatives My target industries: Utilities, Construction; Other industries that require height work

26. Mainstream Export Marketing Advice Market research and country screening Long list of potential countries Short list of the most attractive markets Decide which market(s) to enter Concentration v. spreading Identify the range of foreign market entry strategies available e.g. indirect/direct exporting; licensing; joint ventures; strategic alliances; FDI Costs/benefits Choose the entry strategy Identify agents..... etc etc etcetcetcetcetc.........

27. A New Approach How can I do this differently? How can I break down these barriers? Leading to more rapid internationalization at lower cost

28. Safety Harness Company

29. Safety Harness Company

30. A Case Example Using Social Media to Build a Quality International Customer Base/ A Quality Network (4Is)

31. The Company A new business start-up Supplier of hi-tech solutions to the neurotechnology and optogenetic sectors Wikipedia Definition: a combination of optical and genetic technologies to probe neural circuits at high speeds Project Task Identify most attractive potential customers and a communications plan for engagement Who, Where, How?

32. The Framework Quality Customer Growth Programme

33. QCGP A systematic, professional approach to identifying and acquiring the right type of customer, managing and growing the relationship with them Will ensure that your sales, marketing and relationship building efforts are targeted at `quality' customers and sales prospects (high value, high growth potential, high probability of success customers)

35. Will ensure that your future growth is built on a solid foundation of rock rather than sand

38. Two main criteria:`Customer Attractiveness' - the current and future value of a particular customer (sales prospect, market or sector) taking into account sales value, customer acquisition and service costs, short and long term customer profitability etc. `Probability of Success' - the likelihood that the company can win, retain and grow that customer's business

39. Customer Value Matrix

40. Quality Customer Growth Programme

41. So how did we use this approach?

42. QCGP Start with a ‘Customer Mapping Exercise Identified 3 main customer groups Individuals in neuroscience Neuroscience/optogenetic institutes, firms and clusters Individuals in optogenetics Used Linkedin for building a customer database..... Then position on the Customer Value Matrix Communications strategy emerged from this.......

43. QCGP 27,000 neuroscience profiles on Linkedin 100 neuroscience institutes, firms, clusters 50 neurotechnology companies 50 individuals in optogenetics Further filtered to identify the Top 50 ‘best sales prospects’ Updated yesterday........

44. 39,666 Neuroscience People

45. 246 Neuroscience Companies

46. 22 Optogenetics People

47. Society of Neuroscience 2,889 Members

48. Things to Remember about Social Media

49. The Essence of Social Media It’s social A key feature is online democracy – with content being provided by the network for the network – represents a fundamental and revolutionary change in online behaviour, expectations and the online customer experience. The end of the ‘read only’ internet Power shift Social media empowers customers, empowers the network. Recognizing this shift is the cornerstone of future success Declining effectiveness of traditional approaches Does anyone listen to sales/brand messages anymore?

50. The Essence of Social Media Pull v push Consumers/users decide what information they wish to access New ‘mindsets’ are required Marketing as a conversation with your customers, a conversation with your network – dialogue not broadcasting But this is something that most of us are not very good at doing We prefer ‘telling’ people SM ‘winners’ and ‘losers’ ‘Winners’ will be those organisations who fully utilise the interactive power of Web 2.0 technology for engaging with and energising customer and network relationships

53. The Essence of Social Media New performance measures Requires new performance measures Quality of your network Relationship strength Ability to leverage Social media monitoring tools Redefines the concept of a web site The need for new business/marketing models

54. Built Using Wordpress

55. Embeds SM Channels

56. Embeds SM Channels

57. We use it

58. CMS and Stats

59. ‘Getting There’

60. Next Steps Get Involved Google Alerts, Linkedin, Social Media Monitoring Learn more Develop a strategy Implement Monitor

62. Targets

63. Key performance indicators (KPIs)

64. Customer segments

65. The key social media actions and initiatives required for ‘getting there’

66. Organisational, people and resource issuesEnsure that your social media strategy is fully aligned with and supportive of your overall strategic goals and objectives with clear targets and ROI criteria

67. Social Media Development Cycle

68. SM Development Cycle

69. Each Step is being covered in detail on our blog at www.energise2-0.com

70. Five Key Areas External Analysis: Evaluate Your Social Media Landscape Internal Analysis: Evaluate Your ‘Readiness to Engage’ Develop Your Social Media Strategy and Action Plans for ‘Getting There’ Evaluate Your Social Media Performance and ROI Organization, People and Resource Issues

71. The Three Key Questions

72. Three Simple Questions Who are our customers? Where do they hang out in social media? How can we best engage with and energise them?

73. www.mashable.com

74. Continue the discussion at www.energise2-0.com

75. Thank You

76. Bob Dylan Come gather 'round people Wherever you roam And don’t criticise What you can't understand Your sons and your daughters Are beyond your command Your old road is Rapidly agin‘ Then you better start swimmin’ Or you'll sink like a stone For the times they are a-changin’