Social media export session march 2011 v4 final


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  • Supports a Traditional Exporting ApproachAssess the relevant importance of countries, markets and industriesImportance in terms of volume of relevant mentions. This analysis can be undertaken using multi-lingual variants.Aid understanding, find communities and 'real-time' conversations around: Political and Economic environment - (Twitter in Libya, Tunisia, Linkedin groups) Social and Demographic environment - (SocialBakers, Linkedin, Blogs and Communities)Technological and Technographic environment - (Technographics)
  • Social media export session march 2011 v4 final

    1. 1. ‘Creating the Buzz’Social Media for Sustained Export Growth<br />Dr. Jim Hamill Alan Stevenson<br />Vincent Hamill<br /><br />March, 2011<br />
    2. 2. Thanks to our Partners<br />
    3. 3. Agenda/Content<br />Background – SME Internationalisation<br />The Social Media Revolution – Key Things to Remember<br />Social Media and SME Export Barriers<br />Practical Examples<br />Encouraging a global ‘mindset’, building confidence<br />Social Media Monitoring Tools for Export Market Research, Insight and Understanding<br />Building a ‘Quality International Customer Base’<br />Social Media Planning Pays<br />Implications/Discussion<br />
    4. 4. Slides are available on<br /><br />
    5. 5. Agenda/Content<br />Social media is marketing as a conversation with your customers – a conversation with your network<br />Engagement, two-way dialogue, talk with NOT AT your customers<br />If you have a question to ask or a point to make........<br />
    6. 6. Don’t bother because we’re not interested in what you think or what your experience can contribute to this session. If you ask a question, or make a comment, we will ignore you <br />How many companies treat their customers that way?<br />
    7. 7. Background<br />The importance of SME internationalisation to national economic growth is widely recognised in most developed and developing countries <br />A range of policy measures are in place......<br />But major barriers exist........Psychological, Organisational, Operational, Product/Market <br />Used effectively, social media can help to overcome many of these barriers leading to the more rapid internationalisation of the SME sector<br />
    8. 8. Background<br />Important research and policy implications; also for the teaching and practice of International Marketing – the skills and experience required<br /> ‘Social Media Planning Pays’<br />
    9. 9. The Social Media <br />Revolution<br />
    10. 10.
    11. 11.
    12. 12. What is Social Media?<br />The three main components:<br /><ul><li>Applications
    13. 13. Features and characteristics
    14. 14. Business impact</li></li></ul><li>International Business 2.0 <br />Web 2.0 Applications<br />Open source<br />Online Applications/ Web Services<br />Social/ Professional Network Sites<br />Social Content – Social Bookmarking<br />Blogs or Weblogs<br />Wikis<br />Podcasts/ Vodcasts<br />Virtual Realities<br />Mash Ups<br />RSS Feeds<br />Mobile Web; Internet Telephony<br />Twitter<br />Business Impact<br />Mindset<br />Business Intelligence<br />Customer Insight and Understanding<br />Customer Interaction<br />Enhanced Customer Experience – Rich Internet Applications<br />Reputation Management<br />Sales and Marketing <br />Product Development and R&D e.g. engage and co-create<br />IT/Software/Applications<br />Operations, Internal Processes and HRM<br />Characteristics<br />Communities and Networks<br />Openness<br />Sharing<br />Peering<br />Hosted Services – online applications; the Internet as the platform<br />Interactivity<br />Social Element<br />Mass Collaboration<br />Empowerment<br />Global<br />
    15. 15. Social Media in Plain English<br />
    16. 16. How Big Is It?<br />
    17. 17. Business Impact<br />Key Things to Remember<br />
    18. 18. Key Things to Remember<br />It’s social<br />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. Conversations are taking place relevant to your business<br />Power shift<br />Social media empowers customers, empowers the network. Recognizing this shift is the cornerstone of future success. Customers increasingly rely on the network for information<br />Declining effectiveness of traditional approaches <br />Does anyone listen to sales/brand messages anymore?<br />
    19. 19. Source: The Future of Advertising, APA, 17/02/09 as published on Slideshare ( <br />
    20. 20.
    21. 21. Key Things to Remember<br />Pull v push<br />Customers decide what information they wish to access<br />New ‘mindsets’ are required<br />Marketing as a conversation with your customers/network– dialogue not broadcasting<br />But this is something that most of us are not very good at doing. We prefer ‘telling’ people<br />SM ‘winners’ and ‘losers’<br />‘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<br />
    22. 22.
    23. 23.
    24. 24. Key Things to Remember<br />New performance measures<br />Requires new performance measures <br />Quality of your network<br />Relationship strength<br />Ability to leverage<br />Social media monitoring tools (see later)<br />Redefines the concept of a web site<br />a blog integrated with your other social network sites<br />The need for new business/marketing models<br />
    25. 25. Performance Measurement <br /><ul><li>Involvement – network/community numbers/quality, time spent, frequency, geography
    26. 26. Interaction – actions they take – read, post, comment, reviews, recommendations
    27. 27. Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc
    28. 28. Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking
    29. 29. Insight – customer insight
    30. 30. Impact – business impact</li></ul>Social Media Monitoring Tools –Audit, Assess, Impact<br />
    31. 31. The ‘6Is’ Approach<br />25<br />
    32. 32. Key Things to Remember<br />The need for new business/marketing models<br />Traditional approach:<br />Product development – Differentiate – Market and Promote - Sell<br />New model based on: <br />Communities, networks, openness, peering, sharing, collaboration, customer empowerment, ‘think and act’ globally<br />Engage and energise<br />‘Create the Buzz’<br />
    33. 33. Potential <br />Business Benefits<br />
    34. 34. Business Benefits<br />Used effectively, social media can deliver the following business benefits<br />Market/Customer Knowledge & Insight<br />Engagement & Reputation Management<br />Enhanced Customer Experience and Loyalty<br />Sales/Marketing Effectiveness, Efficiency and ROI<br />Operations/ Internal Processes (open source and hosted apps)<br />But the key words are ‘used effectively’............<br />
    35. 35. Social Media and <br />SME Export Barriers<br />
    36. 36. Article Download<br />
    37. 37. Barriers to SME Exporting<br />
    38. 38. Barriers to SME Exporting<br />
    39. 39. Barriers to SME Exporting<br />
    40. 40. Social Media in Action <br />Overcoming the Barriers<br />
    41. 41. Social Media in Action<br />Practical Examples<br />Encouraging a global ‘mindset’, building confidence<br />Social Media Monitoring Tools for Export Market Research, Insight and Understanding<br />Building a ‘Quality International Customer Base’<br />
    42. 42. Encouraging a global <br />‘mindset’, building confidence<br />
    43. 43. Global 'Mindset', Confidence<br />SME participation in export support sites, social/ professional networks & forums etc can help to develop a more global ‘mindset’, generate greater awareness enthusiasm and confidence<br />Can help to speed up the internationalisation process leading to quicker ROI<br />
    44. 44. Support Sites<br />Very large number of sites......<br />General export support<br />Online Markets<br />Industry specific<br />
    45. 45. General Export Support Sites<br />
    46. 46. General Export Support Sites<br />
    47. 47. General Export Support Sites<br />
    48. 48. General Export Support Sites<br />
    49. 49. General Export Support Sites<br />
    50. 50. General Export Support Sites<br />
    51. 51. globalEDGE<br />
    52. 52. globalEDGE<br />
    53. 53. globalEDGE<br />
    54. 54. globalEDGE<br />
    55. 55. globalEDGE<br />
    56. 56. globalEDGE<br />
    57. 57. Online <br />Markets<br />
    58. 58. Good Article<br />
    59. 59. General Marketplaces<br />
    60. 60. General Marketplaces<br />
    61. 61. General Marketplaces<br />
    62. 62. Industry <br />Specific Communities<br />
    63. 63. BioSpace<br />
    64. 64. Food<br />
    65. 65. Drink<br />
    66. 66. Fashion<br />
    67. 67. From Web 1.0 to Web 2.0<br />Most of these sites will have email newsletters/ RSS Feeds etc to help keep you up-to-date<br />But this is a Web 1.0 way of doing things.....<br />One of the major trends in recent years has been the emergence of a very wide range of Social Media Monitoring Tools<br />
    68. 68. Social Media Monitoring Tools <br />and SME Exporting<br />
    69. 69. SMM and SME Exporting<br />Lack of foreign market knowledge and limited resources for export market research/country screening are two of the main barriers to SME internationalisation<br />Used effectively, Social Media Monitoring tools can help to overcome these barriers<br />Can also support a ‘NEW’ approach to internationalisation<br />
    70. 70. Social Media Monitoring Tools<br />Monitor and evaluate what is being said, by who, where and what impact – delivers actionable insights<br />Three stage process<br />Aggregate what is being said <br />Natural language analysis – understand the data<br />Deliver actionable insights<br />We have identified more than 100 Companies in this space <br />
    71. 71. Social Media Monitoring Tools<br />
    72. 72. Paid - Social Radar<br />
    73. 73. Paid - Radian6<br />
    74. 74. Free - Social Mention<br />
    75. 75. Or Create Your Own<br />
    76. 76. Social Media Monitoring: Benefits<br />They provide the following organisational benefits: <br />Market Knowledge and Intelligence. Where your customers, partners, competitors and staff are hanging out online. <br />Customer Insight and Understanding. What your customers and their influencers are saying about you or your competitors. <br />Identify and network with high value, high growth prospects.Identifying key posts and follow-up actions. <br />Interaction with Key Influencers. Identify influential sources for incorporation into a wider strategic response. <br />Reputation Management. Timely identification of potential reputation issues. <br />Improved Sales and Marketing. New prospects, customer and market opportunities. <br />Improved Performance Monitoring. Support a 4Is approach. <br />
    77. 77. International Social Media Monitoring<br />SMM tools can be used to…<br />Augment a Traditional Market Scanning Approach<br />Support a New approach<br />Build a Quality Customer Growth Programme<br />
    78. 78. International Social Media Monitoring<br />Support a Traditional Market Scanning Approach<br />Research and compare countries, industries, competitors <br />Aid understanding, find communities and 'real-time' conversations around “environmental” issues: <br />Political and Economic environment<br />Social and Demographic environment<br />Technological and Technographic environment<br />
    79. 79. Country Scanning<br />
    80. 80. Understanding Trends<br />
    81. 81. Industry Scanning<br />
    82. 82. Understanding Peaks<br />
    83. 83. Competitor Analysis<br />
    84. 84. Political Insight<br />
    85. 85. Economic Insight<br />
    86. 86. Socio-Technological Data<br />
    87. 87.
    88. 88. International Social Media Monitoring<br />(b) Support a New Approach <br />Identify Applications, Platforms and Communities of interest<br />Find and Engage Customers and Influencers<br />Find relevant Conversations and Actionable insights<br />For some companies, this new approach provides more immediate benefits <br />
    89. 89. Applications and Platforms (Nanotech)<br />On Topic Posts<br />
    90. 90. Key Blogs<br />
    91. 91. Key Groups (on LinkedIn)<br />
    92. 92. Key Accounts on Twitter<br />
    93. 93. …but on Facebook (more B2C)<br />
    94. 94. Identify Influencers<br />
    95. 95. Who’s saying what, where…<br />
    96. 96. Who do the Bloggers RT?<br />
    97. 97. Follow Tweeps<br />
    98. 98. Subscribe to Blogs<br />
    99. 99. Make the “Right” Connections<br />
    100. 100. Building a Quality International Customer Base/ A Quality Network <br />Quick Example from Linkedin<br />
    101. 101. The Company<br />A new business start-up<br />Supplier of hi-tech solutions to the neurotechnology and optogenetic sectors<br />Project Task<br />Identify most attractive potential international customers and a communications plan for engagement<br />Who, Where, How?<br />
    102. 102. So how did we use <br />this approach?<br />
    103. 103. Quality Customer Growth Programme<br />Start with a ‘Customer Mapping Exercise<br />Identified 3 main customer groups<br />Individuals in neuroscience<br />Neuroscience/optogenetic institutes, firms and clusters<br />Individuals in optogenetics<br />Used Linkedin for building a customer database.....<br />Then position on the Customer Value Matrix<br />Communications strategy emerged from this.......<br />
    104. 104. QCGP<br />27,000 neuroscience profiles on Linkedin<br />100 neuroscience institutes, firms, clusters<br />50 neurotechnology companies<br />50 individuals in optogenetics<br />Further filtered to identify the Top 50 ‘best sales prospects’<br />Updated last week........<br />
    105. 105. 39,666 Neuroscience People<br />
    106. 106. 246 Neuroscience Companies<br />
    107. 107. 22 Optogenetics People<br />
    108. 108. Society of Neuroscience 2,889 Members<br />
    109. 109. So what progress has been made by Scottish export companies?<br />
    110. 110. Progress Made<br />Interest and enthusiasm for social media is growing rapidly - channels are being set up<br />But there is a need for a more ‘strategic’ approach - clear social media vision and strategy, agreed objectives, KPIs, targets, ROI and on-going performance measurement <br />More attention needs to be paid to organization, people, resource issues critical to on-going SM success<br /><ul><li>Social Media Planning Pays</li></li></ul><li>Some Advice for <br />Moving Forward<br />
    111. 111. Moving Forward<br />The key strategic, management and organizational challenges involved in planning, implementing and managing successful social media strategies for sustained business growth<br />‘Social Media Planning Pays’……. SM success requires sound planning and the application of professional project management procedures …. but not ‘paralysis by analysis’<br />Ensure that your SM Strategy is fully aligned behind and supportive of your core business goals and objectives<br />
    112. 112. Social Media <br />Development Cycle<br />
    113. 113. SM Development Cycle<br />
    114. 114. Each Step is being covered in detail on our blog at <br /><br />
    115. 115. Five Key Areas<br />External Analysis: Evaluate Your Social Media Landscape<br />Internal Analysis: Evaluate Your ‘Readiness to Engage’<br />Develop Your Social Media Strategy and Action Plans for ‘Getting There’<br />Evaluate Your Social Media Performance and ROI<br />Organization, People and Resource Issues<br />
    116. 116. ‘Be Customer Led’<br />Three key questions:<br />Who are our customers, who do we wish to engage with?<br />Where do we find them ‘hanging out’ on social media? <br />How can we best engage and energise them?<br />
    117. 117.<br />
    118. 118. Develop Your Social Media Strategy and Action Plans for ‘Getting There’ <br />
    119. 119. Use a Simplified Balanced Scorecard <br />Will ensure that the social media actions and initiatives you take are fully aligned with and supportive of your overall business goals and objectives; that KPIs are agreed for monitoring and evaluating social media performance, business impact and ROI; and all key success factors are considered, especially the organization, people and resource aspects critical to successful strategy implementation<br />A Scorecard approach can also be very useful for internal and external communications – a simple framework to present social media goals, objectives, key actions and initiatives to colleagues, partners and other stakeholders<br />
    120. 120. Social Media Balanced Scorecard<br />Not ‘paralysis by analysis’. By providing an agreed framework to follow, the Balanced Scorecard considerably speeds up strategy development and implementation<br />The steps involved can be captured in a Social Media Strategy Map<br />Five key questions to address……<br />
    121. 121. Social Media Balanced Scorecard<br />What is the overall social media vision for your organization?<br />What are the key objectives and targets to be achieved?<br />Who are your customers?<br />Key Actions and Initiatives<br />Organisation, Resource and People Issues<br />
    122. 122. Social Media Strategy Map<br />
    123. 123. Organization, Resource and People Issues<br />
    124. 124. Organization, Resource and People<br />Organisation, resource and people issues sit at the bottom of your SM Balanced Scorecard NOT because they are the least important issues to address. In fact, the exact opposite is true<br />
    125. 125. Conclusion<br />Social media has become too important to ignore....<br />A Social Media supported Export Strategy can help to overcome many of the barriers/obstacles<br />But ‘plan the work and work the plan’<br />
    126. 126. Bob Dylan<br />Come gather 'round people<br />Wherever you roam<br />And don’t criticise<br />What you can't understand<br />Your sons and your daughters<br />Are beyond your command<br />Your old road is<br />Rapidly agin‘<br />Then you better start swimmin’<br />Or you'll sink like a stone<br />For the times they are a-changin’<br />
    127. 127. Continue the discussion at <br /><br />
    128. 128. Thank You<br />Discussion<br />