How to implement a social media strategy and measure ROI

1. Cost Effective Social Media
Marketing Strategies to
Maximize ROI
Hsien-
Tong Hsien-Hui
VP, Marketing and New Media
8th April 2009 @ Marketing Institute of Singapore
© Copyright 2009 Tong Hsien-Hui

2. Agenda
• Introduction to Social Media
• Implementation Process ?
• Measuring ROI
• Common Problems Faced
• What Others Are Doing
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3. Introduction to Social Media
Old Model New Model
1 to Many The Multiplier
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4. Introduction to Social Media
• Social Media is about interactions • Social Media is not just technology
• Social Media is about each • Social Media is not a short term
individual project
• Social Media provides a canvas for • Social Media is not something you
your creativity give an intern to do
• Social Media provides an outlet • Social Media is not a channel to
for you to show the world what blast your packaged ads
you can do • Social Media will not work without
• Social Media is about EGO YOUR participation
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5. Introduction to Social Media
• What companies tend to use it for
– Market Research
– Public Relations/Marketing/Online Voice
– Branding
– Product Development
– Customer Service
– Promotions
– Presence
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6. Introduction to Social Media
Chart Source: Forrester Research Dec 2008
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7. Introduction to Social Media
Chart Source: Forrester Research Dec 2008
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8. Introduction to Social Media
Chart Source: Frederic Cavazza
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9. Implementation Process
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10. Implementation Process?
• No One-Size-Fits-All Strategy
One-Size-Fits-
• A poor plan implemented well is often
better than a good plan implemented
poorly
• This is a long term business initiative
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11. Implementation Process?
S – Stakeholders, Who are they?
W - Where are they?
Objective(s)
O - Objective(s)
P - Planning
- Community, Conversation, Context, Content
E - Execute
- Monitor
M
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12. Implementation Process
Images
Micro
Webpage
Blog
Content
Creator
RSS Blog Platform
Video
Bookmark
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13. Implementation Process
Success Factors
• Know your company
• Know your online community
• Interesting content
– Innovative (Controversy is a subset)
– Funny
– ‘Cool’
Cool’
• Informative and accurate content
• Frequent updates/changes/ replies
• Honesty and Acknowledgement
• Give “strokes” judiciously but frequently
strokes”
• Be consistent
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14. Measuring ROI
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15. Measuring ROI
• Qualitative
– Corporate Reputation
– Conversations
– Customer Relationships
• Quantitative
– Related Sales
– Traffic
– SEO Ranking
– Benchmark vs Competitors and Partners
© Copyright 2009 Tong Hsien-Hui

16. Measuring ROI
Social Media can be Quantified
– Number of positive conversations
– Number of new qualified subscribers
– New sales
– New qualified leads
– Number of new product changes suggested
through this channel
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17. Common Problems Faced
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18. Common Problems Faced
• Internal
– Corporate Structure/Responsibilities
– Response time
– Loss of traditional one way communication channel
– de-
Change from centralized control to de-centralized control
– Consistent pricing and message is needed
• External
– Target audience may not be online
– Unless they are engaged, community often dies from lack of
interaction
– People engage with people, not with companies
– Everyone sees you….investors, competitors, customers,
you…
busybodies…
busybodies…..
– A few people can dominate the conversation….and influence
conversation…
the tide of opinion
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19. What Others are Doing - Skittles
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20. What Others are Doing - Skittles
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21. What Others are Doing - Skittles
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22. What Others are Doing - Skittles
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23. What Others are Doing - Skittles
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24. What Others are Doing – Vodka Absolut
Interest
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25. What Others are Doing – Vodka Absolut
Promote
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26. What Others are Doing – Vodka Absolut
Engage
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27. What Others are Doing – Vodka Absolut
Involve/Interact
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28. What Others are Doing – Accenture
Podcasts
Staff Blogs
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29. What Others are Doing – IBM
Limited Community
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30. What Others are Doing - Dell
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31. What Others are Doing – Starbucks
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32. What Others are Doing – Nike
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33. What Others are Doing – Nike
Connections
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34. What Others are Doing – Burger King
Controversy
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35. What Others are Doing – Red Bull
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36. What Others are Doing – Red Bull
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37. What Others are Doing – AT & T (?)
Will the real AT&T
stand up
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38. What Others are Doing – Bank of America
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