Driving ROI and Growing Your Brand Through Social Media | Jez Frampton, Interbrand | iStrategy Singapore 2010

iStrategy Singapore | Social media brand building | December 2010

Driving ROI and growing your brand through social media


An introduction

1.  It all starts with strategy

2.  Behavior is everything

3.  Structure follows strategy

4.  Some burning questions


It all starts with strategy

“There is no such thing as social media strategy”

• That’s why brands and agencies struggle to figure it out.

• Brand strategy solves business challenges– social media is a tool for personal and professional communication.

• Social media is fast becoming a key component of a strong brand strategy but is not the strategy itself.

• Social tools should be built into all channels and forms of communication, but should follow business and brand strategy.

iStrategy Singapore | Social media brand building | December 2010 4

a plan to create and manage brand value using digital experiences to influence customer behavior

So, what is a digital strategy?


“Do I even need a brand promise anymore, when opinions go from one side of the boat to the other ten times a day….?”

A senior, very senior, marketer…

6 iStrategy Singapore | Social media brand building | December 2010

Beware ‘Buzz’ as measure of success. Seek value.

• Brands are celebrating buzz value of their campaigns and being rewarded by peers and the media.

• Office Max launches “Elf Yourself”, and attain over 100 million views of the viral.

• NY Times to Ad Age lauded the effort as the most successful viral campaign of all time.

• Almost no one can recall the brand or why this related to their value proposition.



The brand should act as a central organising principle for the business


Value creation should be the driver

“Most Useful Rankings to CEOs” —PR Week 1. Fortune 500 2. Best Companies to Work for 3. Interbrand’s Best Global Brands


INTERBRAND BRAND STRATEGY TOOLBOX 2010

A brand is a living business asset, brought to life across all touchpoints which, if properly managed, creates identification, differentiation and value*. *Value from a consumer perspective is the promise and delivery of an experience, from a business perspective is the security of future earnings.

Our brand definition


How do brands create value?

11

B

$ Economic Profit (EVA)

%Role of Brand

Brand Strength

Brand Value


Clarity

Clarity internally about what the brand stands for in terms of its values, positioning and proposition. Clarity too about target audiences, customer insights and drivers. Because so much hinges on this, it is vital that these are articulated internally and shared across the organization.

THE 10 COMPONENTS OF BRAND STRENGTH

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Commitment

Internal commitment to brand, and a belief internally in the importance of brand. The extent to which the brand receives support in terms of time, influence, and investment.

Protection

How secure the brand is across a number of dimensions: legal protection, proprietary ingredients or design, scale or geographical spread.

Responsiveness

The ability to respond to market changes, challenges and opportunities. The brand should have a sense of leadership internally and a desire and ability to constantly evolve and renew itself.

Consistency

The degree to which a brand is experienced without fail across all touchpoints or formats.

Differentiation

The degree to which customers/consumers perceive the brand to have a differentiated positioning distinctive from the competition.

Presence

The degree to which a brand feels omnipresent and is talked about positively by consumers, customers and opinion formers in both traditional and social media.

Relevance

The fit with customer/ consumer needs, desires, and decision criteria across all relevant demographics and geographies.

Authenticity

The brand is soundly based on an internal truth and capability. It has a defined heritage and a well grounded value set. It can deliver against the (high) expectations that customers have of it.

Understanding

The brand is not only recognized by customers, but there is also an in-depth knowledge and understanding of its distinctive qualities and characteristics. [Where relevant, this will extend to consumer understanding of the company that owns the brand]

So, what is Social Media ROI?


The typical indicators of ROI:

1.  Earned Media 2.  Customer acquisition (Lead Generation) 3.  Engagement time

However, the three most important drivers of value are:

1.  Choice 2.  Premium 3.  Loyalty

And maximum value is generated by;

1.  Understanding the role of the brand 2.  Understanding the relative power of each touchpoint 3.  Optimising spend across the whole experience


Behaviour is everything

“A revolution does not happen when society adopts new , it happens when society adopts new .”

- Clay Shirkey, Author, “Here Comes Everybody”

tools

behaviors



A powerful global conversation has begun

…markets are getting smarter – and getting smarter faster than most companies

…these markets are conversations”

The Cluetrain Manifesto – The end of business as usual

Levine, Locke, Searls, Weinberger (2000)

Changing customer behaviors builds brand value

Premium Choice Loyalty

By helping customers make decisions in an ever-growing world of options

By providing value that justifies a strong price point and avoids discounting

By delivering experiences that customers simply can’t live without


It all starts with behaviour and experience

Sites

Digital Environments

Mobile

Advertising

Search

Analytics

PR

eCommerce

Social

Digital Strategy

Drives business forward by

aligning tools, brand and the

customer experience

Customer Experience

Websites

Mobile

Digital Advertising

Search

Brand Analytics

Online PR

eProcurement

Social


Map decision journeys and processes, then overlay opportunities to interact, then think about tools…

Customer Experience



Remember,

We are in the age of real time

Time directly affects value

There is no place to hide

The power structure is shifting

WOM was always the biggest driver


Structure follows strategy

Organisational structure is critical

• Most organisations are still top-down, consensus driven, and slow • Markets bring equal voices, myriad agendas and high speed

• Most organisations are divisionally divided and offer a fragmented delivery • Markets see a single organisation and expect seamless consistency

• Brand provides the internal cultural and operational glue


Remember, Brand value is created internally and externally

Externally: by using digital experiences to

transform customer behaviors and engage

them socially.

Internally: by developing brand stories, empowering

employees and continually evolving

products and services.

ONLINE MOBILE

EMERGING TECH

HR/ INTERNAL

SOCIAL MEDIA

PROD DEV

R&D SALES& MARKTG

BRAND



Some burning questions

Some burning questions, to get us going…

• How can marketers survive and thrive in this changing landscape?

• What role should technology play within marketing?

• Is social becoming anti-social?

• How do freedom and privacy co-exist with marketing?

• How do we define ownership?

• How do we let consumers in without losing control, or is it even about controlling the brand anymore?

• How do we convince our most senior people that social must be taken seriously and requires investment?

• How should we judge success?

• How do we make sure the social threat is turned to opportunity


Thank you

Business

Driving ROI and Growing Your Brand Through Social Media | Jez Frampton, Interbrand | iStrategy Singapore 2010