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MBA Social Media Elective 2012


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MBA Social Media Elective 2012

  1. 1. MBA ELECTIVE CLASS [10 credits]1. Name of Elective Social Media: Strategy and Management2. RationaleThe Social Media Revolution presents major opportunities (but also threats) to companies andorganisations of all sizes and across all sectors. While many have responded by setting up socialmedia channels (e.g. Facebook, Twitter, Linkedin etc), few have developed an integrated andcoordinated social media strategy for building sustained growth and competitiveness.It is now widely accepted that organisations will need to move from an ‘experimental’ stage to amuch deeper level of engagement with social media. Indeed, some observers are already arguingthat the concept of social media itself is becoming dated. What is required is for companies tobecome ‘social businesses’.Two of the main barriers to progress in this area are the lack of senior management awarenessand understanding of the business benefits to be derived from social media and the key stepsinvolved in social media strategy development, implementation and performance measurement.3. ClassThis elective class will cover the key issues involved in developing, implementing andproactively managing an effective social media strategy for building sustained customer andcompetitive advantage. A simplified Balanced Scorecard approach will be used to ensure thatsocial media actions and initiatives are fully aligned with and supportive of core business goalsand objectives. A key focus will be the use of agreed KPIs and targets to measure on-goingsocial media performance and business impact.Given the very dynamic nature of social media, Class content will need to be fluid and flexible toreflect the rapidly changing social media landscape. A Social Media Online Resource Centre willbe set up to ensure class content is updated on a regular basis.Class content will cover the WHY, WHAT, HOW and WHO of social media strategy,implementation and performance measurement as follows:
  2. 2. Topics 1 to 3 - Getting the Basics RightThe Social Media Revolution (applications, features and characteristics, business benefits); SocialMedia in Action (examples); Key Things to Remember about Social Media; Evaluating YourSocial Media Landscape/ Establishing a Social Media Listening System as a key starting point inthe development of an effective social media strategy.Topic 4: - Social Media Strategy DevelopmentOverview of the Balanced Scorecard approach to social media strategy development. Agreeingthe social media vision and business objectives; KPIs and targets. Customer segmentation as akey foundation for success; the key social media actions and initiatives to be implemented;organisation, resource and people barriers; performance measurement and business impact.Topics 5 to 8: - Strategy ImplementationKey issue involved in the successful implementation of an agreed social media strategy - activelistening; role of your web site in social media; building relationships with key influencers (‘1-to-1-to-many’ marketing); participation in external ‘hubs’, forums, networks; development ofproprietary social media channels and action plans covering blogging, twitter, social andprofessional networking, multimedia sharing channels etc – agreeing channel objectives, businessbenefits, KPIs and targets; Key Success Factors (the 4Cs approach – customers, content,conversation, conversion); channel actions (set-up tasks, content plan, channel managementtools); channel performance measurement; organisational aspectsTopic 9: Performance Measurement and Business ImpactTopic 10: From Social Media to becoming a Social Business4. Class AimsOn completion of the Class, participants will have:  Understood the social media landscape for their organisations; opportunities and threats  Developed a clear social media vision and strategy  Agreed the key business objectives, goals and targets to be achieved  Identified the key social media actions and initiatives to be implemented and an ‘Action Plan’ for getting there  Fully aligned their social media strategy to support core business goals and objectives  Agreed the Key Performance Indicators (KPIs), metrics and analytics to be used in measuring social media performance, business impact and ROI  Ensured that all key success factors have been considered, especially the organisation, people and resource aspects critical to successful social media implementation  Become part of an online mutual support and e-learning community  Understood the importance of becoming a ‘social business’Dr Jim @drjimhamill