Download - Executive Strategy: Social Media Marketing
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Executive Strategy:Social Media Marketing
Andrew Krebs-SmithVice President, Founder
Social Fulcrum
Saturday, December 18, 2010
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Scott Pilgrim T-Shirts
• 12,000 Facebook Fans
• 2,000 Twitter Followers
• People begging for product before it was even manufactured
• Budget: $500 + Time
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Warman Homecare
• 3 Facebook Fans
• Budget: $3,000/month
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The Difference
• Research
• Strategy
• Adjustments
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Goals for today
• Quick Social Media/WOM 101
• Review Materials
• Emphasize measurement
• Show innovative/strategic uses of social media
• Show process and metrics
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Short Personal Chronology
• Facebook launched the year I was a Freshman in College
• Graduated from Loyola in 2007
• Advertising, Public Relations, Marketing
• First job in Word of Mouth Marketing at advertising agency
• Laid off - started consulting
• Director of Word of Mouth Marketing
• In 18 months: Grew dept from one person experiment to 15% of agency revenue, 1/3 of agency personnel, 25% of agency profits
• Recently started my own marketing company in New York
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Wide range of experience
• Pfizer
• Texas Instruments
• Ocean City
• Slacker Hero
• Robert Andrew Salon
• Strayer University
• National Chicken Council
• Chesapeake Bay Trust
• Bayer
• Meritain
• CMD Outsourcing
• Warman
• Zoysia Farm Nurseries
• Severn Savings Bank
• Bozzuto Group
• Mariner Bay
• Roseda Beef
• Patrice and Associates
• Carol for a Cause
• Baltimore Convention and Visitors Association
• Designer Chatter
• Sugarloaf Mountain Vineyard
• Prometric
• Prometrics
• 7 Oil Co.
• Television News Center
• Robroy & Co
• NSI Partners
• Rosenthal Partners
• Alexander + Tom
• MGH
• The Cyphers Agency
• American Chemistry Council
• American Nurses Credentialing Center
• American Nurses Association
• Forge Academy of Strength Training
• Frederick Ward and Associates
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WOM concepts
• Credible
• Consumer vs. Company
• Interactive
• Glazed eyeballs vs. targeted interactive
• Exponential
• It’s cheaper to have 1,000 people tell 10 people than to reach 10,000 people
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Old Spice• 40 Million views within 4 days of YouTube
campaign
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United Breaks Guitars
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More than just Facebook and Twitter
• Social Networks (FB, Twitter, Linkedin)
• Huge audiences, lots of opportunities
• Review Sites (Yelp, Tripadvisor, RateMyProfessor)
• Where negative sentiment lives
• Online Forums (NASIOC, CityData)
• Niche communities
• Insight into consumer perceptions, habits, motivations
• Sometimes not accessible by search engines
• Q&A Sites (Yahoo Questions)
• Public medium, well-optimized
• Social Bookmarking (stumbleupon, del.icio.us)
• SEO
• Social Voting (digg, Reddit)
• Traffic drivers
• Influencers
• Media Networks (YouTube, Flickr)
• Awareness, visibility, SEO
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More than just promotion
• Advertising
• Search Engine Optimization
• Being more visible
• Negative sentiment
• Public Relations
• Crisis hedging/management
• Market Research
• Customer Service
• Comcast, Strayer University
• Sales, Lead Generation
• Self-identified prospects
• High conversion rates
• “Pull” strategy to get in front of decision makers
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Social Media ROI
• What were your impressions?
• What was illuminating?
• What did you disagree with?
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One Critique
• Only focuses on one strategy
• Produce content, build audience
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Main Points
• Think more broadly about “costs” and/or “return”
• ROI can only be used in certain instances
• Results can always be measured
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Main Points
• Internet Ad spend out of line with time spent
• Under-monetized Facebook Advertising
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Different B2B Uses
• Sales Outreach
• Business intelligence “ammo” for sales team
• Credibility and positioning for thought leadership
• Training more employees to spread company message and thus increase awareness
• Service offering in certain cases (consulting, marketing, training services, etc.)
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Different B2B Uses
• Sales Outreach
• Business intelligence “ammo” for sales team
• Credibility and positioning for thought leadership
• Training more employees to spread company message and thus increase awareness
• Service offering in certain cases (consulting, marketing, training services, etc.)
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B2B “Wellness” Case
CHALLENGE:
• Wellness company offering $100M-$500M companies programs to decrease health insurance costs
• Needed to reach C-Level executives
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IMPLEMENTATION:
• Built LinkedIn profile
• Used list of 50 prospects to build our network
• Connected with anyone that would get us closer to the 50 prospects
• Sent message to all 50 prospects
• Messaging was custom to each prospect
RESULTS:
• 80% delivery rate
• 25% looked at white paper
• 3 Leads (meetings)
B2B “Wellness” Case
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Different B2B Uses
• Sales Outreach
• Business intelligence “ammo” for sales team
• Credibility and positioning for thought leadership
• Training more employees to spread company message and thus increase awareness
• Service offering in certain cases (consulting, marketing, training services, etc.)
Saturday, December 18, 2010
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B2B Measurement
• Company that outsources customer service for higher education (financial aid dept, registration, etc.)
• Initially hired me to research list of 50 prospects so we could write about the issues they were discussing via social media
• Not research-based strategy
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B2B Measurement• I looked into customer sentiment at target list of
prospect schools
• Found “ammo” for their sales team - negative comments about financial aid departments, registration depts, etc.
• Instead of “Hi, I think our services might be useful,” they now say “We know you have a problem. You’ve had 7 negative comments about your registration dept this month. Let us help solve the problem and save you money in the process.”
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Usual Drivers• Specific Problem
• Negative reviews
• Specific Objective
• Increased sales
• Positioning
• Our competition is doing it
• “shiny object”
• Everyone says this is important
• Curious re: New Opportunities
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Stages of social media awareness
• Another flash in the pan
• Maybe for them, not for us
• Our competition is doing something, why aren’t we?
• Let’s build a Facebook/ Twitter Page
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But Ideally...
• Don’t jump into things
• Let’s figure this out ourselves
• What is the situation? Research.
• Create a plan. Create a team. Create goals.
• Adjust, measure, repeat.
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Measurement
• Every campaign should start with measurement of some kind, whether anecdotal or quantitative.
• Many tools available for $1,000 / month
• Don’t take results at face value. Dig, filter, be critical. You will emerge with a holistic view of the situation.
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Power of LinkedIn
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Robert Andrew Salon and Spa
• Situation: Negative reviews, first page Google results
• Solution: Positive Reviews via ambassador program
• ROI untrackable, but undeniably effective
• How much would you pay to correct a similar issue?
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NCC Situation
• NCC Marketing Budget decreased to $50,000 over the last 10 years
• Less members, less dues
• Food pages dissapearing
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National Chicken Council
• Goals
• Build relationships directly with consumers
• Public relations to promote chicken
• Crisis communications planning
• Objectives
• Garner 1,000,000 recipe impressions
• Create relationships with 5 prominent food/chicken bloggers
• Create active Facebook community of 10,000+ members
• Increase website traffic
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Strategy• Gather audience of evangelists
• Leverage recipe value combined with individual response value
• Find online influencers, build relationships
• Offer value, leverage as needed
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Implementation• Simple, effective, long-term Facebook Fan Page ad
• Respond to large volume of people tweeting about:
• Recipes for dinner/lunch
• Other ways to cook chicken
• Create relationships with food bloggers
• We offered to promote their blog on Facebook page
• Send bloggers “chicken gear”
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Other...• Chicken Video Contest
• Promoted by entrants
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Results (12 months)• 30,000+ Facebook fans
• 500+ recipes distributed directly to people asking for recipes
• 20+ Blogger relationships
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The Shrimp IndustryWished it had a Facebook page with 30,000 fans
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How we did it
• Strategic, planned usage
• Facebook - gather audience
• Twitter - build relationships
• Bloggers - build relationships
• Contest - exponential awareness
• Adjustments based on data
• What data?
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Metrics
• Depend on each campaign
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Report Template
• Level 1 - Impressions
• Level 2 - Audience
• Level 3 - Interaction
• Level 4 - Site Traffic
• Level 5 - Sales (or lead conversion)
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Examples
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If you are going to use Social Media...
• Research is a valuable investment
• Set Goals, Objectives, Strategy
• Measure
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Here’s what I do when someone says “I want social media” or “I have a
specific problem”• Find out what’s being said
• About Industry
• By Competitors
• By Customers
• By Audiences
• By Employees/Company
• What are possible assets?
• Where are target audiences?
• What is the budget?
• What are the goals and objectives? How can we measure them?
• Are there influencers?
• Act like a consumer. Perform a google search
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What should you look for?
• Influencers
• Bloggers
• Twitter users
• Communities
• Online Forums
• Industry-specific communities
• Demographic-specific communities
• Interest-based communities
• Targeting
• Facebook Ads
• Meetup
• Consumer Experience
• What comes up in a search?
• Reviews?
• Directories, local lists
• Search engine optimization
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Then I look at specific locations
FacebookTwitterMeetupBlogs
ForumsNing
Q&A Sites
LinkedInFlickr
YouTubeSlideShare
Review SitesEvent SitesExaminer
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And I use that to develop an “Online SWOT”• Strengths
• Innovative use (e.g. Comcast)
• Social-savvy target audience
• Weaknesses
• Strict regulations (e.g. pharma, banking)
• Opportunities
• Lots of positive discussions regarding product/brand/industry
• Easily reachable communities
• Threats
• Political implications
• Negative sentiment
• Bad customer experiences
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Why SM might make sense for your company
• Big marketing pieces already in place
• Available resources (time, people, money, partnerships)
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My two cents
• There are opportunities in social media for every company
• There are opportunities in word of mouth marketing without using social media
• Just because there are opportunities doesn’t mean you should spend money there
• Social Media can be used for more than just promotion, and more than just marketing (but it’s usually marketing in some form because it’s all public)
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Two more cents• Building “social” real estate (or communities) takes time
• Return is not immediate, nor linear
• Implementation/management usually works best internally for larger companies
• Usually the cost of measuring ROI dissuades companies from measuring it
• Spend money at the beginning to determine (1) if there are opportunities and (2) if so what is the situation/strategy? Alot of companies want ROI from the outset, and don’t want to pay to “figure things out”.
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Main tenets of social media strategy
• Find your audience
• Align strategy with your brand
• Create objectives
• Measure results
• Adjust based on metrics
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For more information
• Read December Harvard Business Review
• Read Mashable (blog)
• WOMMA.org
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Questions?
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The End
Thanks!
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