Leveraging Social Media for Business Impact

804 views

Published on

In this presentation, we review social media efforts in the healthcare industry, the five different stages of social media programs and what healthcare organizations can do to set themselves up for social media success.

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
804
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
6
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Leveraging Social Media for Business Impact

  1. 1. Leveraging Social Media for Real Business Impact Healthcare Financial Management Association – Texas Gulf Coast Chapter October 13, 2013
  2. 2. What is social media? The means of interactions among people in which they create, share, and/or exchange information and ideas in virtual communities and networks. Source: http://webcomm.tufts.edu/social-media-overview13/ PAGE 2 © Endeavor Management. All Rights Reserved.
  3. 3. Social media and healthcare Social media has changed the face of patient to patient and patient to provider communications Real time communication platforms allow open and honest dialogue Opportunities to capitalize on patient feedback and build a trusted support community to actively engage with Social media can also be used to address negativity, concerns and complaints as part of service recovery Source: http://www.healthcareitnews.com/blog/social-media-and-healthcare-navigating-new-communications-landscape PAGE 3 © Endeavor Management. All Rights Reserved.
  4. 4. 51% of patients say they’d feel more valued as a patient via digital health communications 1 in 3 American adults have used the web to figure out a medical issue A growing number of today’s patients are increasingly using digital tools as part of their overall health maintenance. Surprisingly, still only 26% of all hospitals in the US participate in social media Sources: http://www.healthcareitnews.com/blog/social-media-and-healthcare-navigating-newcommunications-landscape http://www.pewinternet.org/Reports/2013/Health-online/Summary-of-Findings.aspx PAGE 4 © Endeavor Management. All Rights Reserved. 41% of people said social media would affect their choice of healthcare provider http://thesparkreport.com/branding/infographic-social-mobile-healthcare http://www.televox.com/downloads/technology-beyond-the-exam-room/
  5. 5. Healthcare: Struggle to demonstrate ROI Ownership of social media is often dispersed across channels Disease Center Marketing Public Relations Social Media Social Media Social Media Without a long-term strategy to leverage this high volume channel into core business functions, hospitals and healthcare systems will continue to struggle demonstrating a return on investment for socialbased initiatives. LONG TERM SOCIAL MEDIA STRATEGY PAGE 5 © Endeavor Management. All Rights Reserved.
  6. 6. Why is this so difficult? 1. Social program structure and integration Decentralized Structure Centralized Structure Pros Cons Pros Cons Greater coverage of the channel in terms of listening, responding and engaging social communities Measuring the effectiveness of the collective efforts across the healthcare organization Clarity of message due to control over the channel Typically have limited resources available; allocated to more tactical activities like listening and monitoring rather than higher value activities Greater overall coverage by subject matter experts – Individual departments focus on their domain Lack of ability to coordinate and collaborate activities across the organization PAGE 6 © Endeavor Management. All Rights Reserved. May lack conversational communication and subject matter expertise
  7. 7. Why is this so difficult? 2. Social program goals and metrics Biggest challenge for demonstrating ROI for social-based initiatives is the natural tendency to focus on the channel and not what happens within the channel. Many focus on: Likes Followers Retweets Instead of: Linking a social conversation to patient acquisition PAGE 7 © Endeavor Management. All Rights Reserved.
  8. 8. Collaboration is key With limited resources or business constraints, tying program objectives to business objectives may seem out of reach Programs stop short of setting goals based on financial outcomes and focus on softer, nonfinancial goals Without linking to financial outcomes, demonstrating real ROI is just not possible This is what leads to stagnant or slow growth of many social programs in hospitals and healthcare systems Collaboration across the organization is key to building a program capable of demonstrating business impact PAGE 8 © Endeavor Management. All Rights Reserved.
  9. 9. Evolution of social programs As a social program evolves it passes through 5 major stages: 1 2 3 Establish Social Presence and Basic Policy Reputation & Crisis Management Integration & Coordination of Activities 4 Centralization & Consolidation of Tools GREATER INTEGRATION ACROSS THE INSTITUTION INCREASED ABILITY TO DEMONSTRATE ROI PAGE 9 © Endeavor Management. All Rights Reserved. 5 The Social Enterprise
  10. 10. 1 2 3 Establish Social Presence and Basic Policy Reputation & Crisis Management Integration & Coordination of Activities • • • • • • • 4 Centralization & Consolitdation of Tools Social media recognized as important Want to establish a presence Social media policy developed Efforts may be singular and/or uncoordinated Simple goals (i.e. simply having a presence) Activities focused on managing that presence Metrics consist of likes, followers, etc. PAGE 10 © Endeavor Management. All Rights Reserved. 5 The Social Enterprise
  11. 11. 1 2 3 Establish Social Presence and Basic Policy Reputation & Crisis Management Integration & Coordination of Activities 4 Centralization & Consolitdation of Tools 5 The Social Enterprise Expand efforts into social learning A program within a program is created Goals may extend to now also include measuring sentiment Goals still largely based on nonfinancial measures One department may be accountable for “listening”, with other efforts being dispersed and managed individually across the institution • Experimentation with different media and monitoring tools • • • • • PAGE 11 © Endeavor Management. All Rights Reserved.
  12. 12. 1 2 3 Establish Social Presence and Basic Policy Reputation & Crisis Management Integration & Coordination of Activities 4 Centralization & Consolitdation of Tools 5 The Social Enterprise • Begin to incorporate operations into social media • Tend to be more centralized • May build relationships and ad hoc workflows for overlapping responsibilities (i.e. processing dissatisfied community members) • Unofficial coordination between departments • May see editorial calendars to manage communications across multiple presences • Metrics can begin to relate to financial outcomes resulting from service recovery activities related to the social channel PAGE 12 © Endeavor Management. All Rights Reserved.
  13. 13. 1 2 3 Establish Social Presence and Basic Policy Reputation & Crisis Management Integration & Coordination of Activities 4 Centralization & Consolidation of Tools 5 The Social Enterprise Social programs become more operationally organized Relationships with other departments are formalized Information is shared more freely Coordination of service recovery and other workflows across departments Social program is primarily centralized Generally an increase in budget initiates consolidation Listening expanded to actively involve competitors Social media used to make data-driven decisions Decision tree in place to ensure responses and reactions to negative conversations are resolved quickly and consistently • Program activities can be linked to financial and nonfinancial outcomes • • • • • • • • • PAGE 13 © Endeavor Management. All Rights Reserved.
  14. 14. 1 2 3 Establish Social Presence and Basic Policy Reputation & Crisis Management Integration & Coordination of Activities 4 Centralization & Consolidation of Tools 5 The Social Enterprise • Social program becomes the hub for collecting and sharing information related to social media • Seamless workflows between departments • Social deeply engrained in core business functions • Social communities become a source for business intelligence • Offers customers seamless experience across channels • Have conversation liaisons who are subject matter experts and actively engage communities on a regular basis • Messages become conversations, which become relationships • Customers feel connected to the brand • More advanced measurement • Return on investment is the key metric for program success PAGE 14 © Endeavor Management. All Rights Reserved.
  15. 15. Social media will continue to grow in importance. Managing this high volume channel requires a clear vision far enough into the future to keep pages with a media that changes at the speed of light. Social program goals that support core business functions like customer support, PR and physician relations require organizational coordination and collaboration but yield financial outcomes. Accelerating your social program requires removal of barriers that impede integration with the organization PAGE 15 © Endeavor Management. All Rights Reserved.
  16. 16. Accelerating your evolution from social program to social enterprise 1 Know the channel but focus on how the people engage one another within the channel. 2 Identify how social media supports business functions within your organization. 3 Monitor what your customers say about your competition and their experience with your competitors. 4 Let the tools do your work. 5 Be the voice of your community within your organization. 6 Use social media to have conversations – do not push messages. 7 Analyze, analyze, analyze. 8 Start small but be strategic. 9 Service recovery is big. 10 Brand advocacy is huge. PAGE 16 © Endeavor Management. All Rights Reserved.
  17. 17. In summary… While most healthcare organizations have a social media strategy in place, many still find it difficult to evolve and innovate as fast as social technology does. This can make social media strategy obsolete before it can be fully executed. Developing a long-term strategy focused on integrating this channel into operations can ensure your program can keep pace and create business impact. PAGE 17 © Endeavor Management. All Rights Reserved.
  18. 18. Endeavor Management is a management consulting firm that leads clients to achieve real value from their strategic transformational initiatives. Endeavor serves as a catalyst by providing the energy to maintain the dual perspective of running the business while changing the business through the application of key leadership principles and business strategy. The firm’s 40 year heritage has produced a substantial portfolio of proven methodologies, enabling Endeavor consultants to deliver top-tier transformational strategies, operational excellence, organizational change management, leadership development and decision support. Endeavor’s deep operational insight and broad industry experience enables our team to quickly understand the dynamics of client companies and markets. 2700 Post Oak Blvd Galleria Tower 1, Suite 1400 Houston, TX 77056 +1 713.877.8130 www.endeavormgmt.com PAGE 18 Combined with our Gelb Consulting experience (founded in 1965) we also offer clients unique capabilities that focus their marketing initiatives by fully understanding and shaping the customer experience through proven strategic frameworks to guide marketing strategies, build trusted brands, deliver exceptional customer experiences and launch new products. Our experienced consultants and analysts use advanced marketing research techniques to identify customer needs and spot high potential market opportunities.

×