connecting corporate objectives to social business strategy
DESCRIPTION
Making the Connection: A practical guide to creating a social business strategy that aligns with corporate / organisational objectives. Many businesses are using social media, but many fail to see the value on their bottom line. This presentation aims to help businesses become social, and connect their efforts to the organisation's overall objectives. It also gives executives insight as to how they can effectively introduce social into their business and get these social technologies to stay focused on the organisation's end goal...TRANSCRIPT
Connecting your corporate objectives to an effective social business strategy
Presented by Jason Stoltz[Marketing Executive | Business Strategist | Brand
Architect | Communications Specialist]
Date of First Publish: 21 November 2013
Content Marketing &
Social Media ForumLeveraging Content & Social Media Analytics for Competitive Advantage
IntroductionWhat we need to accomplish in this session
Content Marketing & Social Media Forum
Social Business Strategy © Copyright Jason Stoltz 2013 4
Connecting your corporate objectives to an effective social business strategy
Conference Theme
Session Theme
IntroductionLook to the definitions
Corporate Goals are the Specific, Measurable, Attainable, Realistic, and Time-bound goals that an organisation plans to achieve in line with corporate strategy or vision
Social Business Strategy © Copyright Jason Stoltz 2013 5
Social Media refers to the means (channels) of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks
SOURCE: http://en.wikipedia.org/wiki/Social_media
Content marketing is any marketing format that involves the creation and sharing of media and publishing content in order to acquire customers. This information can be presented in a variety of formats, including news, video, white papers, e-books, infographics, case studies, how-to guides, question and answer articles, photos, etc.
SOURCE: http://en.wikipedia.org/wiki/Content_marketing
Social Business Strategy refers to the deep integration of social media and social methodologies into the organisation to drive business impact
SOURCE: www.altimetergroup.com
Destination
Route
Vehicle
FUEL
IntroductionBusiness is Social – A glimpse into the future
http://www.youtube.com/watch?v=ujlfePzD77E
Social Business Strategy © Copyright Jason Stoltz 2013 6
Salesforce is a cloud based CRM – the worlds #1 sales,
service and marketing application
IntroductionPresentation Overview
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87
A practical guide to aligning social business strategy to corporate objectives
1. Define corporate goals [What do we want to achieve as a business?]
2. Translate CG’s into functional strategies [What strategies must our business units take to contribute toward achieving CG’s?]
3. Research SM platforms [What platforms / tools are available in the social space and where are our targeted audiences talking / engaging?]
4. Map SM Platforms to Functional Strategies [What are the top 3 platforms per functional strategy / use case?]
5. Consolidate functional strategies / use cases by SM platform [What are all the different goals at BU levels that we need to accomplish grouped by SM platform?]
6. Create & define the strategy roadmap [What content do we need to create, what financial & skill resources do we need to pull this off, how will it be governed, and how will it be measured? What are priorities?]
7. Implement 8. Monitor, evaluate & optimise [Have we achieved social
business transformation? Have we achieved corporate goal attainment?]
Social business influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 7
Define Corporate GoalsThe levels of strategy – Looking top down
Typical examples of corporate & business objectives
- Double the size of the business over the next 7 years- Increase turnover by 20% over 18 month incremental periods
- Increase profitability by % over time frame
- Grow asset base
- Expansion into specific regions
- Generic strategies (Cost leadership; Diversification; Focus)
- Increase customer repeat purchase & life-time value / customer retention due to increase in competition
- Improve operational efficiencies and increase output
Corporate StrategyThe business you should be in
Business StrategyThe tactics to beat the competition
Functional StrategyOperational methods used
INTERSECTION
Top Down
Bottom Up
Social Business Strategy © Copyright Jason Stoltz 2013 9
Long term
Med term
Short term
Ensure effective communication of these goals & strategies filter to business unit and functional levels
PRACTICAL TIP
Social business influencing corporate objectives & strategies
Beware of disconnect
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 10
Aligning Corporate Objectives to SB StrategyA practical guide
Translate Corporate GoalsInto functional strategies at business unit level
Social Business Strategy © Copyright Jason Stoltz 2013 11
- Understand your stakeholder base per strategy
- Which stakeholders are affected and what you need to say to them [*** Content considerations]
Corporate Goals Functional strategies / goals to achieve corporate goals
- Stop thinking operations for
a second & start thinking social – IN THE DIGITAL SPACE
- think engagement and ‘CONVERSATION’
- think about the relationships you need to foster to achieve these strategic objectives
PRACTICAL TIPS
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 12
Aligning Corporate Objectives to SB StrategyA practical guide
Social Business Strategy © Copyright Jason Stoltz 2013 13
Research Social Media PlatformsWhat categories and associated platforms are available for what kind of content?
The Conversation Prism (Solis & JESS3, 2013)
- Gain understanding of what categories of social / conversation platforms and tools are available
- Gain understanding of what the main (most common) platforms / tools are for desired categories
- Where are your target audiences engaging?
- Prioritise through a process of elimination
http://www.theconversationprism.com/
Don’t try to understand everything at depth!!!
PRACTICAL TIP
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 14
Aligning Corporate Objectives to SB StrategyA practical guide
Map SM Platforms to Functional StrategiesWhat are the top SM platforms for each operational activity
Social Business Strategy © Copyright Jason Stoltz 2013 15
Functional Strategies and operational activities Map Appropriate Social Business Tools / Platforms
Not every Functional strategy / operational activity needs a social
business element to it!!
PRACTICAL TIPS
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 16
Aligning Corporate Objectives to SB StrategyA practical guide
Consolidate functional strategies by SM platformsCollect the operational activities per social business platform
Social Business Strategy © Copyright Jason Stoltz 2013 17
Sales & Marketing
- Generate new business leads (InMails / PPC)
- Raise brand awareness (Thought Leadership / PPC)
- Reduce customer acquisition costs (Publish product Information in groups)
Human Resources
- Recruitment & on boarding
- Promote current skill & talent ownership
- Promote employer brand of choice (PPC / Groups)
Procurement
- Source cheaper supply (through professional networks)
Sales & Marketing
- Promote events
- Raise brand awareness (Thought Leadership / PPC)
- Online reputation management
R&D
- Competitor research
- NPD research
Human Resources
- Staff vetting & background checks
Sales & Marketing
- Raise brand awareness (Thought Leadership)
- Reduce customer acquisition costs (Publish sales Information)
Human Resources
- Staff training
- Staff collaboration (sharing of presentation materials)
Human Resources
- Staff retention (communication)
- Staff training
- Staff collaboration
Human Resources
- Staff retention (Communications)
Sales & Marketing
- Raise brand awareness (Thought Leadership / PPC)
- Reduce customer acquisition costs (Publish product reviews / how to guides
R&D
- NPD research
- Strategic research
Procurement
- Source cheaper supply
Identify social business tools / platforms that could / are to be used
by wider range of functional units and
PRIORITISE them
PRACTICAL TIPS
Stakeholder (target audience / community) driven content creation & sharing
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 18
Aligning Corporate Objectives to SB StrategyA practical guide
Create & define the strategy road mapDocument the plan of action for content, resource and governance
Social Business Strategy © Copyright Jason Stoltz 2013 19
Stakeholder (target audience / community) driven content creation & sharing
Content ResourcesGOVERNANCE
Establish Content requirements per SM platform drilling down to functional strategic goals
- Determine the type of content required (Copy / Imagery / Video) and level of re-purposing into different formats
- LISTEN
- Identify content contributors / champions
- Balance between internal UGC (user-generated content) and external content syndication
- ENGAGE
- Calendar development
- SHARE
Table the resources required to implement content strategy with detailed overview of expected EXPENDITURE
- Staff
- Pay peanuts get monkeys
- Gen Y NOT THE ANSWER
- Balance insource – outsource human capital
- Technology platforms to invest in - mapped to content types
- Support software (Photo editing / Video editing / Transcription)
- Hardware required (Cameras / Dictaphones)
- Platforms (LinkedIn & package selected – license fees)
Control policies- Content standards- Contributors- Editing & Publishing- Engagement guidelines- Metrics and benchmarksChange Management (New Implementations)- BIG BANG does NOT WORK- Stakeholder Buy-in- Train train train train train and
follow up
RESOURCES should be prioritised to the SM platforms that are going to achieve the most functional goals first! Don’t underestimate
the power of quick wins
PRACTICAL TIPS
EXECUTIVE BUY-IN
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 20
Aligning Corporate Objectives to SB StrategyA practical guide
ImplementPut your plan to action
Social Business Strategy © Copyright Jason Stoltz 2013 21
Considerations
- Make sure you are ready
- Get your hands dirty Mr. Executive
- Have the resources to keep it alive
- Empower stakeholders
http://www.youtube.com/watch?v=lQJYmIZiqho
Don’t let negatives go!Deal with issues
immediately as they arise
PRACTICAL TIP
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
Social Business Strategy © Copyright Jason Stoltz 2013 22
Aligning Corporate Objectives to SB StrategyA practical guide
Monitor, evaluate & optimiseKey metrics and tools to effectively measure the effectiveness of social business transformation
Social Business Strategy © Copyright Jason Stoltz 2013 23
Ask the right questions: Have we achieved what
we set out to do?
PRACTICAL TIPS
Not all answers come from SM
platform metrics
Monitor, evaluate & optimiseKey metrics and tools to effectively measure the effectiveness of social business transformation
Social Business Strategy © Copyright Jason Stoltz 2013 24
Question: Did HR achieve their objective of:
- Staff Retention? √
What do the metrics look like on the various platforms used? See what worked and what did not…
X X X
COMPARE RESULTS & OPTIMISE
XWhy did we not achieve our objective?- Poor adoption?- Poor content?- Lack of Internet Access?- Wrong SM Platform mix?
INCREASE IN PROFITABILITY
ATTRIBUTABLE TO THIS SOCIAL BUSINESS
STRATEGY??????
Question: Did we achieve our corporate goal of attaining an increase in profitability?
SOCIAL BUSINESS TRANSFORMATION
√
√
√
√
√
X
X
SummaryThe practical guide overview
Social Business Strategy © Copyright Jason Stoltz 2013 25
Corporate StrategyThe business you should be in
Business StrategyThe tactics to beat the competition
Functional StrategyOperational methods used
INTERSECTION
Top Down
Bottom Up
25
Long term
Med term
Short term
Social business influencing corporate objectives & strategies
Define Corporate Goals
Translate CG’s into Functional
Strategies (BU Level)
Research Social Media Platforms
Map SM Platforms to Functional
Strategies (Use Cases)
Consolidate Functional
Strategies by SM Platforms
Create & Define the Strategy Roadmap
ImplementMonitor, Evaluate &
Optimise
21 3
56 4
87Social business
influencing corporate
objectives & strategies
26
Presentation closeThank you
Social Business Strategy © Copyright Jason Stoltz 2013
Content Marketing &
Social Media ForumLeveraging Content & Social Media Analytics for Competitive Advantage
QUESTION & ANSWER SESSION