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Social Media for Success

RICS Scotland –Lunchtime CPD

1st and 2nd November 2011

twintangibles 2011

research - consulting – advice

What You Should KnowWhat You Should Know

• What is different about Social MediaWhat is different about Social Media

• How that presents opportunities and threatsHow that presents opportunities and threats

• Have a planHave a plan

• How to develop a planHow to develop a plan

Which Do You Know? Which Do You Know?

Common ActivitiesCommon Activities

Blogging Blogging

Messaging/Messaging/microblogging microblogging

VideoVideo

AudioAudio

TaggingTagging

ImagesImages

NetworksNetworks

PublishingPublishing

What Changes with SM?What Changes with SM?

Product/Service DevelopmentProduct/Service Development

SalesSales Customer SupportCustomer Support

InnovationInnovation CollaborationCollaboration

RecruitmentRecruitment CSRCSR

Knowledge ManagementKnowledge Management

SEO – Search Engine OptimisationSEO – Search Engine OptimisationMarketingMarketing

Raising Capital/InvestmentRaising Capital/Investment

Content CreationContent Creation

To Define Social MediaTo Define Social Media

““It is a mindset of It is a mindset of sharing, openness, sharing, openness, collaboration and communicationcollaboration and communication that is facilitated by technical tools that is facilitated by technical tools

that provide for that provide for many to many non many to many non mediated exchangemediated exchange””

It is increasingly pervasive, it can’t It is increasingly pervasive, it can’t be ignored and it is affecting be ignored and it is affecting society, economy and culturesociety, economy and culture

TribesTribes

Your tribes are assetsYour tribes are assets

ReachReach

Social Media MindsetSocial Media Mindset• Deeply rooted Deeply rooted • InclusiveInclusive• MutualityMutuality• Democratic Democratic • Always on – hyper connectedAlways on – hyper connected• Reduced barriers to entryReduced barriers to entry• Expectation of return non traditionalExpectation of return non traditional• Challenges conventionChallenges convention• Self regulating and self organisingSelf regulating and self organising• IterativeIterative

Why Should You Care?Why Should You Care?

ExpectationExpectationYour Staff, Clients, Customers, Partners and Suppliers will expect itYour Staff, Clients, Customers, Partners and Suppliers will expect it

OpportunityOpportunityIt can create value for your business and if you don’t use it others willIt can create value for your business and if you don’t use it others will

AssetAssetYou are creating an asset for the futureYou are creating an asset for the future

ExpectationExpectation

• The annual British Internet Habits survey showed that in 2011, 57% of over-16s in the UK are using the internet for social networking, as opposed to 43% in 2010.The annual British Internet Habits survey showed that in 2011, 57% of over-16s in the UK are using the internet for social networking, as opposed to 43% in 2010.• Using Social NetworksUsing Social Networks

91% 16-24 year olds91% 16-24 year olds 76% 25-34 year olds 76% 25-34 year olds 58% 35-44 year olds58% 35-44 year olds42% 45-54 year olds42% 45-54 year olds30% 55-64 year olds30% 55-64 year olds 18% 65+18% 65+

Office of National Statistics – Office of National Statistics – British Internet Habits 2011British Internet Habits 2011

Your Staff, Clients, Customers, Partners and Suppliers will expect you to both use the tools and honour the principles.

DLA Piper Research June 2011DLA Piper Research June 2011

• 76% of firms surveyed* had a corporate social media presence while 95% of employees use social media channels for personal and/or work related activities

DLA Piper Knowing your tweet from your trend: keeping pace with social media in the workplace 2011DLA Piper Knowing your tweet from your trend: keeping pace with social media in the workplace 2011

*250+ employees and revenues of greater than £30m, all carried out during June 2011.*250+ employees and revenues of greater than £30m, all carried out during June 2011.

OpportunityOpportunity

• In the UK the In the UK the most popular activity most popular activity onlineonline is finding information about is finding information about good or services that people want to good or services that people want to buybuy

• 25% of search results link to user 25% of search results link to user generated contentgenerated content

• 78% of customers trust peer reviews78% of customers trust peer reviews• Only 14% trust advertsOnly 14% trust adverts

Source: Source: The Role of Social Media in Commercial Property Andrew Waller and Bob Thompson RICS November 2009The Role of Social Media in Commercial Property Andrew Waller and Bob Thompson RICS November 2009

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AgencyAgency

ProfessionalProfessional

Building SurveyingBuilding Surveying

DevelopmentDevelopment

Property ManagementProperty Management

Facilities ManagementFacilities Management

MarketingMarketing

Porters Value ChainPorters Value Chain

Porters Value Chain UpdatedPorters Value Chain Updated

http://en.wikipedia.org/wiki/File:Porter_Value_Chain.pnghttp://en.wikipedia.org/wiki/File:Porter_Value_Chain.png

AssetAsset

For Example:For Example:• Entering new marketsEntering new markets• Customer insightCustomer insight• AdvocacyAdvocacy• Funding Crowdfunding or IPOFunding Crowdfunding or IPO• Product/service innovationProduct/service innovation

Your Your Social Media experience, awareness, impact Social Media experience, awareness, impact and presence are assetsand presence are assets that should nurture with a that should nurture with a view to growing and harvesting value over timeview to growing and harvesting value over time

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So What?So What?

• It will affect every organisation differentlyIt will affect every organisation differently• There is no “magic bullet” or single There is no “magic bullet” or single

approachapproach• It gets over soldIt gets over sold• You can’t ignore itYou can’t ignore it• It’s both an opportunity and a threatIt’s both an opportunity and a threat• You need a plan You need a plan

Action PlanAction PlanAudit & EvaluateAudit & Evaluate

Strategic Strategic IntentIntent

ResourcesResources

TargetsTargets& Metrics& Metrics

Choose Choose ChannelsChannels

EngageEngage

MonitorMonitor

ListenListen

Strategic IntentStrategic Intent

• Link it business objectives or a specific Link it business objectives or a specific business issuebusiness issue

• The tail must not wag the dog!The tail must not wag the dog!• Know why you are doing thisKnow why you are doing this• Be realisticBe realistic• Aim to embed this across the organisationAim to embed this across the organisation

So you might want to:•Enhance Inbound Marketing•Create Operational Efficiency•Service/product development•SEO•Knowledge Retention

Targets & MetricsTargets & Metrics

• Measures help establish progress Measures help establish progress • Both qualitative and quantitative Both qualitative and quantitative

– Remember not everything that counts can be counted Remember not everything that counts can be counted and not everything that’s counted countsand not everything that’s counted counts

• Plenty of tools available – many are free!Plenty of tools available – many are free!

So you might measure:•Traffic to website•Social mentions and sentiment•Google Analytics•Internal email traffic•Staff turnover•Time to complete activities

Choose Your ChannelsChoose Your Channels

• Many tools – with different purposesMany tools – with different purposes• Ensure they are fit for purposeEnsure they are fit for purpose• Where are your tribe and what do they Where are your tribe and what do they

use?use?

So consider:•Free or paid for? •LOB Integration•Cloud or hosted?

ResourceResource

• How will you resource this? How will you resource this? • Be in it for the long run Be in it for the long run • Is this culture change?Is this culture change?

So consider:•Do you need training?•Where will your content come from?•Who will do it?•Do you need policy?

ListenListenWhat You Must Now DoWhat You Must Now Do

Image credit http://www.imageafter.com

•What is being said, when is it said, where is it said?•What is being said about others?

What You Once DidWhat You Once Did

Image credit http://www.imageafter.com

EngageEngage

• You are trying to have a conversation You are trying to have a conversation and build trustand build trust

So you should:•Have a voice/tone•Consider time and frequency•Provide value•Be responsive•Acknowledge others•Be genuine

Monitor and ReviewMonitor and Review

• Its quality not quantityIts quality not quantity• Be as holistic as possibleBe as holistic as possible• Adjust accordingly – it’s a learning Adjust accordingly – it’s a learning

processprocess• ROIROI•“What’s the ROI of your phone”

Eric Qualman – Socialnomics •Maybe not but you do check the tariffs

Action PlanAction PlanAudit & EvaluateAudit & Evaluate

Strategic Strategic IntentIntent

ResourcesResources

TargetsTargets& Metrics& Metrics

Choose Choose ChannelsChannels

EngageEngage

MonitorMonitor

ListenListen

Keys for SuccessKeys for Success• Be strategicBe strategic• Have a planHave a plan• Its inward facing toIts inward facing to• Measure itMeasure it• Marshall your resourcesMarshall your resources• Listen, listen, listenListen, listen, listen• Engage, engage, engageEngage, engage, engage• Monitor and adjustMonitor and adjust• Be in it for the long termBe in it for the long term

www.twintangibles.co.ukwww.twintangibles.co.uk

tim@twintangibles.co.uktim@twintangibles.co.uk

@twintangibles@twintangibles

+44 (0)7717 714 595+44 (0)7717 714 595

research - consulting – advice