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Using Social Media Technology to Drive Measurable Business Value

RexAlvis
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This video received 540

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    Slide 1:This video received 540,603 views on YouTube. (And has generated just about nothing tangible for its creator).

    Intro notes Intro notes

    Slide 2:Using Social Media Technology to Drive Measurable Business Value

    “For me, transparency is a competitive weapon." ~ Sun COO Jonathan Schwartz on why he blogs Presented by: Jason Voiovich Ecra Creative Group 651.209.2778 or jason@ecracreative.com What this illustrates is that popularity does not necessarily equal revenue; or any other measurable business objective If you have experience with social media, you are probably a bit jaded (or at least a bit frustrated) - How many have a LinkedIn profile? How many have really gotten anything tangible out of it? - How many have set up a blog? Does anything come from that? The key to harnessing the power of social media is the same key for any marketing endeavor: Understand what you want to achieve Develop a tactical plan Put metrics in place to measure your outcomes Adjust based on feedback What this illustrates is that popularity does not necessarily equal revenue; or any other measurable business objective If you have experience with social media, you are probably a bit jaded (or at least a bit frustrated) - How many have a LinkedIn profile? How many have really gotten anything tangible out of it? - How many have set up a blog? Does anything come from that? The key to harnessing the power of social media is the same key for any marketing endeavor: Understand what you want to achieve Develop a tactical plan Put metrics in place to measure your outcomes Adjust based on feedback

    Slide 3:What do we really want?

    Understand how social media works as a marketing channel Understand it as more than "blogging" and "podcasting" - although that (can be) part of it Understand how to graft a business process onto a repeatable model for success Our ultimate goal is to achieve a definable business objective Before we do that, we need to understand how social media REALLY works, what it is, and what it is not.Our ultimate goal is to achieve a definable business objective Before we do that, we need to understand how social media REALLY works, what it is, and what it is not.

    Slide 4:Today’s Discussion

    [1] Develop a simple framework to guide us through the process of analyzing any social media marketing channel [2] Select three distinct examples: Catalog/Product sales support Consulting/Reputation building Competitive Intelligence *** Still a work in progress; I have worked to develop this framework through painful experience We’ll start with the framework – in order to make social media work for you, you must first understand what makes the channel unique from a marketing perspective. Start in the wrong place, and you are likely to be disappointed with your results Next, we’ll graft three specific scenarios onto the model we develop, showing you a simple way to compartmentalize any objective In the end: You will know what it takes to be successful using social media, and have a framework for developing an action plan – whatever your specific objective *** Still a work in progress; I have worked to develop this framework through painful experience We’ll start with the framework – in order to make social media work for you, you must first understand what makes the channel unique from a marketing perspective. Start in the wrong place, and you are likely to be disappointed with your results Next, we’ll graft three specific scenarios onto the model we develop, showing you a simple way to compartmentalize any objective In the end: You will know what it takes to be successful using social media, and have a framework for developing an action plan – whatever your specific objective

    Slide 5:Distribution: Content Layer

    Rule #1: Content is King. Fresh and original Timely and updated Multiple media types Content If you notice carefully, a great amount of content online IS NOT original It is aggregated or republished Poor quality That’s SEO’s dirty little secret – that industry has been CREATED to fill the web with links to content More incoming links, increased search engine traffic, increased Google results End result: Watering down of the web AND a real opportunity is you have real content, lot’s of people want it But more than that, this is the FOUNDATION of everything you will do How can you expect people to purchase a product or engage your services if you are not giving them anything valuable? Written content Audio Photos Video ***The more the betterIf you notice carefully, a great amount of content online IS NOT original It is aggregated or republished Poor quality That’s SEO’s dirty little secret – that industry has been CREATED to fill the web with links to content More incoming links, increased search engine traffic, increased Google results End result: Watering down of the web AND a real opportunity is you have real content, lot’s of people want it But more than that, this is the FOUNDATION of everything you will do How can you expect people to purchase a product or engage your services if you are not giving them anything valuable? Written content Audio Photos Video ***The more the better

    Slide 6:Bridge: Enabling Layer

    Rule #2: Get your hooks in it. Depending on your goal, select a technology platform that will serve as the bridge between your content and social media technology. Content Enabler Key point here: Your life with social media can be easy or difficult Technology you pick here is important: What is the goal? Does this platform have the right “pathways”? (i.e. if you are setting up a blog, does it have automated hooks to publish to Facebook and LinkedIn? Or do you need to figure out how to “hard code” them?) The right tech has all of these items answered for youKey point here: Your life with social media can be easy or difficult Technology you pick here is important: What is the goal? Does this platform have the right “pathways”? (i.e. if you are setting up a blog, does it have automated hooks to publish to Facebook and LinkedIn? Or do you need to figure out how to “hard code” them?) The right tech has all of these items answered for you

    Slide 7:Distribution: Social Media Layer

    Rule #3: Be ready to experiment. We can make educated guesses about who to reach and why they would care, but social media is a dynamic, ever-changing chaotic environment. Simple answer: Go wide first, then refine. Content Enabler Social Media As you’ve noticed, we’ve been building our strategy in layers - Started with content: Now that we’re moving to distribute our content (and get feedback on it) via social media channels, we have value to present - Built on an enabling technology: We don’t need to struggle – publishing to YouTube, Flickr, etc is a “one click” job We’re finally at the point where we are deciding which social media networks make sense for our needs There is no “one” answer It may surprise youAs you’ve noticed, we’ve been building our strategy in layers - Started with content: Now that we’re moving to distribute our content (and get feedback on it) via social media channels, we have value to present - Built on an enabling technology: We don’t need to struggle – publishing to YouTube, Flickr, etc is a “one click” job We’re finally at the point where we are deciding which social media networks make sense for our needs There is no “one” answer It may surprise you

    Slide 8:Feedback: Analytics Loop

    Content Enabler Social Media This is only way to really know if what you’re doing is making a difference. Permeates the entire process - Not just “commenting” and “hits” (obvious feedback from the social media process) - Is your enabling technology “enabling” or “limiting” - What content are people responding to? - Where is the most traffic coming from? - Are you getting “honest” traffic numbers (no “bots”) - Manifesting beyond “visits” and into other metrics you have established (web store visits, phone calls, etc) Be ready to make changes – even fundamental ones – in what you are doing. BUT, make sure to give what you are doing time to work. (Just because you are on a network, it will take time to grow).This is only way to really know if what you’re doing is making a difference. Permeates the entire process - Not just “commenting” and “hits” (obvious feedback from the social media process) - Is your enabling technology “enabling” or “limiting” - What content are people responding to? - Where is the most traffic coming from?- Are you getting “honest” traffic numbers (no “bots”) - Manifesting beyond “visits” and into other metrics you have established (web store visits, phone calls, etc) Be ready to make changes – even fundamental ones – in what you are doing. BUT, make sure to give what you are doing time to work. (Just because you are on a network, it will take time to grow).

    Slide 9:“Give it a chance.”

    HealthcareScoop.com now boasts 1241 stories. (And a meaningful revenue generator and positioning tool for Consumer Aware, but it took 12 months.) HealthcareScoop.com started with just an idea – user-generated stories (not ratings) about doctors and clinics. At first, grew slowly as a local resource. Now, valuable resource for individuals – AND the clinics they go to – clinics have taken noticeHealthcareScoop.com started with just an idea – user-generated stories (not ratings) about doctors and clinics. At first, grew slowly as a local resource. Now, valuable resource for individuals – AND the clinics they go to – clinics have taken notice

    Slide 10:Example 1: excelcycle

    Business Objectives: - Sell finished bicycles - Move older inventory (when new models come out) - Sell clothing and accessories - Schedule service appointment and encourage more - Build a tight-knit "community" of riders to boost repeat sales and differentiate their store

    Slide 11:excelcycle Content Layer

    Content Enabler Social Media Finished Cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses- Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses

    Slide 12:excelcycle Content Layer

    Content Enabler Social Media Parts, Clothing & Accessories Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses- Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses

    Slide 13:excelcycle Content Layer

    Content Enabler Social Media Service Appointments Details and packages Before/After photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses- Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses

    Slide 14:excelcycle Content Layer

    Content Enabler Social Media Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses - Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses ***I spend more time here because it is the most important- Finished cycles Complete specifications (from the mfg) Excel's "take" (not just the mfg's) Mfg photos Excel's own photos Video of the cycle in use - Parts Same as above - high level of detail and multimedia - Service Appointments Details and packages B/A photos Videos of maintenance in action Training videos (DIY crowd); build vision of expertise - Community Invest their own time in "rides" and "lifestyle" activities Cycling advice and commentary (written) Training courses ***I spend more time here because it is the most important

    Slide 15:excelcycle Enabling Layer

    Content Enabler Social Media Enabling Technology Online store (tied into their store's sales and ERP system) eBay store Email distribution and tracking system Scheduling software Many people don’t think about eBay as a social media technology, but it ha hooks into several social media networksMany people don’t think about eBay as a social media technology, but it ha hooks into several social media networks

    Slide 16:excelcycle Social Media Layer

    Content Enabler Social Media Social Media YouTube (videos) Flickr (photos) Google Ads, etc Blog Facebook group and page Google Calendar Social Media: - YouTube (videos) - Flickr (photos) - Their own store Google Ads, etc - Blog - Facebook group and page - Google calSocial Media: - YouTube (videos) - Flickr (photos) - Their own store Google Ads, etc - Blog - Facebook group and page - Google cal

    Slide 17:excelcycle Feedback Loop

    Content Enabler Social Media Feedback Loop: What to measure? YouTube viewers: Clicks to product or service featured Flickr viewers: Clicks to product or service featured Facebook: Activity level in community, number of riders who show up at events Track backs through blog, Facebook, YouTube, etc to their store or the eBay store Email clickthroughs to site, store Tracking: - YouTube viewers - - - clicks to actual product or service - Flickr viewers (same) - Facebook: activity level in community, number of riders who show up - Track backs through blog, facebook, youtube, etc to their store or the eBay store - Email "clicks"Tracking: - YouTube viewers - - - clicks to actual product or service - Flickr viewers (same) - Facebook: activity level in community, number of riders who show up - Track backs through blog, facebook, youtube, etc to their store or the eBay store - Email "clicks"

    Slide 18:Example 2: Jason Voiovich

    Business Objectives: Not trying to ‘sell’ anything Stay top-of-mind with my entire network Build a personal brand Maintain ‘warm contacts’ Kind of a “practice what I preach”Kind of a “practice what I preach”

    Slide 19:Jason Voiovich Content Layer

    Content Enabler Social Media Goal: Demonstrate Expertise State of the Brand brand Written content Audio content/version Weekly schedule Key point: Consistency over time One shot won’t do it Consistent effort over the past three yearsKey point: Consistency over time One shot won’t do it Consistent effort over the past three years

    Slide 20:Jason Voiovich Enabling Layer

    Content Enabler Social Media Enabling Technology Email distribution Online blog (as a repository of content) iTunes (for podcasts) Makes it easy – about 2-3 hours per week; largely because of the technologyMakes it easy – about 2-3 hours per week; largely because of the technology

    Slide 21:Jason Voiovich Social Media Layer

    Content Enabler Social Media Social Media Blog Catalog, Technorati, Blog Carnivals Pull-In to Facebook page (personal network) Pull-In to LinkedIn page (professional network) Twin Cities Business (syndication)

    Slide 22:Jason Voiovich Feedback Loop

    Content Enabler Social Media Feedback Loop: What to measure? Overall number of recipients Email views, new viewers, click-through, subscriptions Direct phone calls or inquiries Comments (any media) iTunes subscriptions Success of ‘re-warming’ efforts Speaking opportunities Non-referral chain awareness You’ll notice I am not measuring direct dollars (as excelcycle would do) There are so many factors that would influence sales in a consulting businessYou’ll notice I am not measuring direct dollars (as excelcycle would do) There are so many factors that would influence sales in a consulting business

    Slide 23:Example 3: Competitive Intel

    Business Objectives: Essentially, social media “in reverse” Companies publish (or let slip) detailed information Get a sense for market conditions prior to product launch Gain perspective on competitive bidders Outflank market position on an existing line Kind of a “practice what I preach”Kind of a “practice what I preach”

    Slide 24:Comp Intel Content Layer

    Content Enabler Social Media Goal: What do you want to know/protect Want to know: Price ranges paid Customer satisfaction levels Feature requests Distribution channel/profitability Want to protect: Launch timing Our own feature set Results of our own customer tests Let’s say we wanted to introduce a new guitar lineLet’s say we wanted to introduce a new guitar line

    Slide 25:Comp Intel Enabling Layer

    Content Enabler Social Media Enabling Technology You need a central place to collect information from multiple sources. SharePoint is one example You can manage everything in manila folders, but you won’t like itSharePoint is one example You can manage everything in manila folders, but you won’t like it

    Slide 26:Comp Intel Social Media Layer

    Content Enabler Social Media Where do you get data? RSS feeds on new posts and comments from guitar blogs Pricing updates from eBay store, Best Buy, Guitar Center Facebook guitar groups (free to join) “Test posts” (to gauge reaction to an idea anonymously)

    Slide 27:Comp Intel Feedback Loop

    Content Enabler Social Media Feedback Loop: What to measure? Content analysis of blog posts, comments, and ratings (provide good feedback for product development) Response to our own “test marketing” in the social media community (using established sources) Pricing patterns on eBay stores (“to the moment” pricing information)

    Slide 28:Other Business Objectives

    What else could you accomplish? Twitter-enabled customer service Text message phone software sales & opinion polling New product training

    Slide 29:Parting Thoughts

    Social media technology – even now – is very new; usually used in support of other efforts Be wary of “tactical” approaches (i.e. “I want to have a viral video”) Understand and invest in the ongoing effort it will take to build these ‘loose’ relationships that are at the core of social networks Let’s recap.Let’s recap.

    Slide 30:Next Steps

    Decide if a social media channel is really worth the effort it will take. Social Media marketing is not “free” (at least, not free for you). Define measurable objectives that can be tracked via analytics data Develop a “working bank” of content to seed your initial efforts and ensure you can keep up the effort long-term Get assistance with the technology – or the entire process – if you need it. This is a marketing investment like any other. Treat it like one. Let’s recap.Let’s recap.

    Slide 31:Contact Information

    Jason Voiovich Principal Ecra Creative Group 651.209.2778 jason@ecracreative.com www.stateofthebrand.com Question and answer period here.Question and answer period here.

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