Integrated Social media strategy

Social Media and your business Ryan McCormack :: May 2010 http://bitstrategist.com

Ryan McCormack :: July 2010 :: http://bitstrategist.com

Outline

•  Marketing is evolving

•  Businesses need an integrated strategy

•  Social media is a critical step

•  Summary

Marketing is evolving

In the beginning…

And then it got noisier…

Trust us…

…and then came the Internet

…and things got social

Businesses can evolve by pursuing an

integrated strategy

Product Strategy Your products or

services, competition

Brand & Content Strategy

Who you are and how you communicate

about yourself

Social Strategy How you listen to and engage with your customers

Experience Design

Integrated Strategy

and Design

about yourself

The new kid on the block: Social strategy

Social media is not a fad. There is real impact and ROI.

Twitter explodes across the globe

•  106,000,000 registered users

•  300,000 new users / day

•  600,000,000 searches / day

•  100,000+ applications

•  3 billion API requests / day

Facebook becomes a juggernaut

Crowds help companies build better widgets

• 1 year = 70,000 ideas • 60 products launched • 100,000+ comments

• 12,000+ ideas generated • 325+ ideas implemented • 660,000+ votes for ideas

Social media drives revenue

Dell: > $7MM in direct revenue from Twitter

Online reviews drive 15,000 additional product sales in first year

Social campaigns drive engagement

Plant a seed for a “blog hunt”

And people find their way “home”

Clues are revealed…

Users visit different blogs

Prizes and rewards for winners, traffic for bloggers

• 2.5MM views on blogs • HUGE rise in Alexa ranking

Social media drives leads

Lead generation nearly DOUBLES for SMB

It’s moving beyond competitive advantage

80% of companies surveyed will use blogs, Twitter, customer reviews and Facebook by the end of 2010

The promised land has a few mines

Social media is an evolved ecosystem

I know…I’ll just sign up for

The digital ecosystem

Social news

Discussion forums

Collaborative production

Social networks

Microblogs Social bookmarking

Location

Your Web site

Photos

Multiple destinations and Shared information

Your Brand is

distributed

Social media is a critical step

A four-step program

1.  Goals: Set your goals

2.  Strategy: Devise a plan

3.  Execution: Make it operational

4.  Evolution: Measure, refine, repeat.

“If you don’t know where you’re going, you’ll probably end up somewhere else.”

– Les Brown

Step 1: Set your goals

Goals come in a few flavors

Reputation

Awareness

Don’t confuse goals for strategy

“All men can see the tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.”

– Sun Tzu, The Art of War

Step 2: Devise a strategy

A social media strategy framework

•  Listen

•  Talk

•  Engage

•  Embrace

Increasing level of engagement and trust

No relationship

Deeper relationship

See also: Groundswell (Li & Bernoff, 2009)

Listen: What are people saying about you

Twitter search

Facebook wall posts

Talk: Communicate with people

Blog article

Response in comments from company

Engage: Forge deeper connections

…and engages

An angry customer tweets

Head of North American customer support listens…

Embrace: Let your customers change you

Starbucks builds a community platform

Customers engage

Starbucks listens and takes action

“Strategy without tactics is the slowest route to victory.”

– Sun Tzu

Step 3: Make it operational

I can’t do it, Captain! The social media engineering team is offline!!

Scotty, I need a viral video in 3 minutes or we’re all dead!

Build your social media team

How deep is this pool, anyway?

Don’t forget to keep winding.

Social media initiatives

“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.”

– Charles Darwin

Step 4: Evolution

Measure. Refine. Repeat.

The laws of business physics still apply

Choose metrics carefully

•  Web site traffic

•  Brand awareness

•  Engagement with prospects

•  Engagement with customers

•  Brand reputation

•  Prospect lead quality

•  Revenue

•  Prospect lead volume

•  Useful product feedback

How to assess impact

Summary

Experience Design

Integrated Strategy

and Design

about yourself

Social media in four steps

1.  Goals: Set your goals

2.  Strategy: Devise a plan

3.  Execution: Make it operational

4.  Evolution: Measure, refine, repeat.

So what’s next for you?

Integrated Social media strategy

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