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Social business strategy

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this provides a template to create a social media strategy, governance and a business case, loaded with social media statistics it is intended as a resource to inform executives of the importance of a social media strategy.

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Social business strategy

  1. 1. How to create a Social Media Strategy, Governance and Business Case Catherine Elder September 2015
  2. 2. Purpose of this document  To get executive buy-in for additional resources to support social media  To provide understanding of how social media can ◦ Support the brand identity and reputation ◦ Drive awareness to support promotion and lead generation  To formalize governance, policy & protocols  To inform and begin to shift culture of organization to using social 2
  3. 3. Executive Summary  Clients, prospects, competitors, media and employees and potential employees are all using social media.  Social media needs to be strategic and planned.  Governance needs to be formalized as the brand is impacted. 3
  4. 4. Goal  Develop a social media program that will support business objectives by ◦ increasing brand awareness ◦ fostering customer relationships ◦ attracting new customers 4
  5. 5. Objectives  The social media strategy has been developed to best support a diverse range of business and marketing objectives. ◦ Support Brand awareness targets ◦ Increase social media share of voice (followership) ◦ Increase inbound traffic and support lead generation 5
  6. 6. Benefits of a social media plan  Social media supports: ◦ Brand positioning and awareness building ◦ Credibility and reputation management ◦ Search engine rankings  improves the ability for our content and services to be found on search engines through supporting search engine optimization ◦ Lead generation by driving traffic to web forms for thought leadership ◦ Increasing customer engagement and data collection ◦ Maintaining competitive position in marketplace ◦ Public relations and news release reach ◦ Recruiting reach ◦ Customer service and customer interaction 6
  7. 7. Contents  Why social media  Who is using it ◦ Competitor review ◦ Client review ◦ Employees and prospects  Strategy ◦ Objectives ◦ Tactics ◦ Audiences ◦ Content ◦ Reporting  Governance ◦ Policy ◦ Current state ◦ Roles and responsibilities ◦ Process  Business case  Recommendations and next steps 7
  8. 8. 8 Why social media? – It makes business sense.
  9. 9. Why using social media makes business sense  Social is part of the digital experience ◦ Over 70% of B2B decision makers use social media as a source of information ◦ 68% of users spend time reading about brands that interest them ◦ 60% of people are inspired to seek out a product after reading about it ◦ 53% of people on Twitter recommend companies and products ◦ 65% of social media users learn more about brands, products or services ◦ 53% compliment brands ◦ 50% express complaints or concerns about brands or services ◦ 64% of consumers made a first purchase because of a digital experience 9 Sources: • IBM the Interactive Marketing eBook • http://www.wordtracker.com/blog/basics-setting-up-twitter-business • social media today • http://www.socialmediaexaminer.com/report2015/ • sales stats - http://www.slideshare.net/JakeAtwood1/20-shocking-sales-stats?related=1 • Hootsuite “A definitive guide to social selling) • https://apps.ioninteractive.com • www.marketingprofs.com • http://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/ • http://www.wordtracker.com/blog/business-guide-to-being-social-on-social-media?utm_source=Wordtracker+Subscribers&utm_campaign=919926036d- • Search Engine Journal • Forbes • http://www.convinceandconvert.com/social-media-research/new-social-media-research-uncovers-the-big-problem-for-businesses/
  10. 10. Why using social media makes business sense  An alternate approach to traditional marketing is needed ◦ 78% of consumers say that the posts made by companies on social media influence their purchases. ◦ 81% of people say that posts by their friends on social media influence their purchases. ◦ 63% of marketers believe traditional branding methods are losing their effectiveness ◦ 70% of people would rather learn about companies through an article than an advert ◦ 72% of consumers trust online reviews as much as personal recommendations. ◦ Consumers indicate they expect brands to be available in an average of 3.5 social media channels,  around 80% of consumers expect brands to be present on Facebook. ◦ Consumers expect brands to engage on consumers' terms  62% of Millennials say that if a brand engages with them on social networks, they are more likely to become a loyal customer.  nearly 50% of people have used social media to praise or complain about a brand in the past month. 10 Sources: • IBM the Interactive Marketing eBook • http://www.wordtracker.com/blog/basics-setting-up-twitter-business • social media today • http://www.socialmediaexaminer.com/report2015/ • sales stats - http://www.slideshare.net/JakeAtwood1/20-shocking-sales-stats?related=1 • Hootsuite “A definitive guide to social selling • https://apps.ioninteractive.com • www.marketingprofs.com • http://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/ • http://cdn29.elitedaily.com/wp-content/uploads/2015/01/2015_EliteDaily_MillennialSurvey3.pdf • http://www.convinceandconvert.com/social-media-research/new-social-media-research-uncovers-the-big-problem-for-businesses/
  11. 11. Why using social media makes business sense  Social is being used to support sales ◦ 96% of respondents in a Sales Management Association study use LinkedIn at least once a week and spend an average of six hours per week on it ◦ 73% of respondents in a Forrester study have engaged with a vendor on social networks;  relevant context to connect with vendors is one of the top reasons buyers use social networks for business ◦ 52% more leads were generated when marketers spent 6+ hours a week engaging on social media ◦ 85% of IT decision makers use at least one social network for business ◦ 60%-70% of the buying process in a complex sale is already complete before prospects are willing to engage with a live salesperson ◦ 95% of B2B buyers prefer shorter content formats 11 Sources: • IBM the Interactive Marketing eBook • http://www.wordtracker.com/blog/basics-setting-up-twitter-business • social media today • http://www.socialmediaexaminer.com/report2015/ • sales stats - http://www.slideshare.net/JakeAtwood1/20-shocking-sales-stats?related=1 • Hootsuite “A definitive guide to social selling) • https://apps.ioninteractive.com
  12. 12. Social media is part of business  96% of survey participants indicated they are participating in social media marketing  92% said social media was important to their business  84% of marketers agreed that they have integrated their social media and traditional marketing activities  66% of marketers plan on increasing use of Twitter, YT and LI  93% of marketers are using Facebook and 62% plan on increasing FB activities  57% of marketers use video in their marketing 12 http://www.socialmediaexaminer.com/report2015/
  13. 13. 13 Who is using social
  14. 14. 14 Competitors are on social
  15. 15. Competitors are on social Competitor LI Twitter FB YT Other (blogs etc) 15 Audit your top competitors – visit their website and look for the social icons; conduct searches in social
  16. 16. Competitors’ Activity on social channels The table on the following slide highlights: • The volume of activity in social media varies with global firms having considerable influence (i.e. followers) • Followership volume ranking differs from LinkedIn to Twitter, i.e. different companies have different strategies for the channels they are using, 16
  17. 17. Competitors’ activity on social channels Competitor LI – Followers LI – employees Twitter followers Tweets 17 Provide detail in your competitor benchmarking – who has the most followers, how active are they? Add social media channels that you feel is relevant for your business
  18. 18. 18 Clients are on social
  19. 19. Our clients are on social Clients Comments LI Twitter FB YT Other (blogs etc) 19 Audit your top clients – visit their website and look for the social icons; conduct searches in social
  20. 20. 20 Employees and prospective employees are on it
  21. 21. Employees and prospects are using it • # employees on LinkedIn • # followers on LinkedIn • Employees following on Twitter • Employees on Facebook • # presentations on YouTube and SlideShare with your brand 21 How many of your employees are on LinkedIn? Are any employees using your corporate brand in their handle on Twitter? Have you had requests for Facebook? If you search on YouTube and SlideShare – does your brand show up?
  22. 22. 22 Social Media Strategy
  23. 23. Objectives  Brand awareness ◦ To increase awareness/visibility of the brand ◦ To expand the reach of the brand and show ourselves as thought leaders ◦ To engage with key influencers  Maintain customer relations ◦ To nurture relationships through sharing valued information/content  listening and responding ◦ To support/maintain improved customer satisfaction, reputation, loyalty and retention  Support customer care  Attain new customers ◦ To drive traffic to other properties to increase awareness of services and drive lead generation through gated thought leadership and event registration ◦ To engage with prospects through established subject matter experts & expertise 23Source: Marketo - 2014 SAMPLE TACTICAL PLAN SOCIAL MEDIA
  24. 24. Objectives by channel Objective LinkedIn Twitter Slide Share YT Facebook Blog Wikipedia website Email Digital Ad Maintain and increase brand awareness and familiarity ● ● ● ● ● ● ● ● ● ● Maintain customer relations ● ● ● ● ● ● ● Attain new customers (support) ● ● ● ● ● ● Attain new employees - Highlight company culture ● ● ● ● 24 • LinkedIn has 347 million users • Twitter has 316 million users • SlideShare has 70 million users • YouTube has over 1 billion users • Facebook has 1.5 billion users • Wikipedia has over 100,000 regular participants and now shows on Google result pages http://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/ http://www.wordtracker.com/blog/business-guide-to-being-social-on-social- media?utm_source=Wordtracker+Subscribers&utm_campaign=919926036d- _301_Google_autocomplete_final_7_30_2015&utm_medium=email&utm_term=0_17557ad12d-919926036d- 290926293&ct=t%28_301_Google_autocomplete_final_7_30_2015%29 Source: Marketo - 2014 SAMPLE TACTICAL PLAN SOCIAL MEDIA https://www.youtube.com/yt/press/ http://www.slideshare.net/about https://en.wikipedia.org/wiki/Wikipedia:Welcoming_committee/Welcome_to_Wikipedia
  25. 25. Tactics by objectiveObjective Maintain and increase brand awareness and familiarity Maintain customer relations Attain new clients Increase planned LinkedIn updates • add showcase pages to provide an integrated view of initiatives • Promote events and drive traffic for registration (including workplace learning) • Promote thought leadership, especially through web forms Increase planned Tweets • Continue to follow and engage with: • clients and their associations • industry events • media, including trade media • Incorporate SEO strategy for hashtags • Follow all clients • Engage with clients by retweeting and sharing their relevant content • Be prepared to quickly respond to customer comments • Follow prospects (e.g. list of rfps we are responding to) • Engage with hot prospects by retweeting and sharing their relevant content • Be prepared to quickly respond to comments and questions Expand to other channels • Use SlideShare for presentations and YouTube for videos • Create a Wikipedia page • Launch blog to highlight subject matter expertise • Explore Facebook especially for B2C and recruiting • Use SlideShare for presentations to educate clients on topical issues and related services • Assess Facebook especially B2C offerings • Use SlideShare for presentations to promote subject matter expertise Strategic initiatives • Incorporate social media response into customer 25
  26. 26. Rationale 26 Maintaining and increasing brandawareness and familiarity • 90% of marketers indicated that their social media efforts have generated more exposure for their business • Increasing traffic is the second major benefit [of using social media] with 77% reporting positive results Attaining new clients • 80% of B2B social media leads are generated from LinkedIn, with more than 86% of conversions among LinkedIn-generated leads coming from LinkedIn discussion groups • In B2C, Facebook and Twitter are the social media used most to directly reach consumers.
  27. 27. Tactics for increasing impressions and interactions  Increase photo and video use within social channels, incorporate short demos, highlight integrated views  Increase thought leadership with strong alignment to integrated services  Promote at least one major activity a month  Identify key influencers, follow them and engage with them to gain support for relevant initiatives  Assist subject matter experts and spokespeople in creating ◦ Their own social profiles (e.g. through LinkedIn and Twitter tip sheets and training) ◦ Creating content (e.g. LI Pulse)  Encourage employees to create LI profiles and follow us, support our updates ◦ Make employees aware of social media policy and acceptable use ◦ Encourage employees to support us on Twitter 27
  28. 28. Tactics to use social at every stage of the buying cycle Stage Strategic purpose Tactic – Channel Tactic – content type Measurement Attention/ awareness Branding • Web pages, • ads, • social • thought leadership, • Sessions & views, • Clicks • Impressions Interest Engagement • Web, • email, • social • video, whitepapers, • Leads, • Opens & CTR • Impressions, likes Desire Information dissemination • Blogs, • groups, • social • articles • RFPs • Comments/ interaction • Impressions, CTR Action Sales enablement • Ecommerce portal, • Web - contact us • Social *(Twitter ads enable ecom) • demos, • Sales meeting/ presentations Loyalty Customer experience • Customer service portal, • CRM, • Social community (Groups) • Nurture (newsletters/ emails) • Customer satisfaction, • Testimonials • Case studies • Retention 28
  29. 29. Tactics - social advertising  Advertising in LinkedIn, using Google Ads and Twitter sponsored updates will ◦ increase exposure for expanded reach for the brand ◦ Increase website traffic ◦ Improve search engine optimization ◦ Support our “owned” digital properties ◦ Improve our earned media 29 http://www.slideshare.net/PresentationAdvisors/social-media-for-business- 5456817?related=1
  30. 30. Tactics – identify key influencers  Identify influencers in order to assist them in supporting content and building awareness ◦ People with large audiences in social channel who provide relevant, professional content – including journalists and bloggers ◦ Identify influencers and nurture relationships by providing them with value add content 30
  31. 31. Target audiences in social by content intent Content intent Clients B2B Custome rs B2C Prospect s Media (influence rs) Recrui ts Employee s Investor s Factual ● ● ● ● ● ● ● Thought leadershi p ● ○ ● ● ○ ○ ○ Articles ● ● ● ● ● ● ● Brand messagin g ● ● ● ● ● ● ● Culture messagin g ○ ○ ○ ○ ● ● ○ Interactio n in social ● ● ● ● ● ● ○ Advertisin g ● ● ● 31 ● High need for this content ○ Medium/low need for this content
  32. 32. Content management  Social media schedule ◦ A content calendar can be created based on marketing strategies and tactics  Content management strategy and plan ◦ Asset creation – identify content per target and channel ◦ Asset optimization – incorporate keywords to support brand and ability to be found in search ◦ Asset distribution – appropriate channel selection  Keyword strategy ◦ For search engine optimization keywords need to be infused into all content ◦ Keywords should be incorporated into social posts  Hashtags used in Twitter need to be strategic 32 • 75% of B2B buyers want brands to furnish content of "substance," that helps them to research business ideas Source:Search Engine Journal) Forbes
  33. 33. Focus area Content distribution by channel 33 https://apps.ioninteractive.com Focusing content in the main channels will enable us to achieve maximum exposure
  34. 34. Content marketing – Social tops the list 34 https://apps.ioninteractive.com 80% of B2B content marketing assets require registration to access – lead generation is an expected online behaviour Promote content in social to drive people to lead generation forms
  35. 35. Content creation - multiple formats  Providing content in multiple formats increases engagement and exposure ◦ Video can be incorporate into several social channels and can include demos and learning segments (between 9 seconds and 2 minutes) ◦ Presentations can be repurposed on SlideShare ◦ Photos add a personal perspective and increase engagement ◦ Short content needs to be created specific to the channel, i.e. content shouldn’t be cut from other vehicles but be created specifically for the channel in order to achieve strategic objectives 35Source: eContent 2015 Sourcebook, According to a report by MarketingProfs and the CMI • 76% of B2B marketers use video as a content marketing tactics • 69% use illustrations/photos • 65% use online presentations • 62% use infographics • 92% use Social media content other than blogs Social media posts are increasingly being illustrated with graphics, photo images, and video. The ability to offer information in a variety of formats provides the flexibility to meet audience needs.
  36. 36. Content Schedule Jan Feb Mar Apr May Jun e Jul Aug Sep Oct Nov Dec 36
  37. 37. Reporting - Performance metrics Analytics and reporting is becoming more complicated as more data is becoming available therefore an alignment to the objectives needs to be established so that there is an understanding of what is being achieved and where there are gaps and room for improvement in any of the tactics and campaigns  Some of the items to be considered for reporting are: ◦ Conversions  Direct revenue, event registrations, downloads, campaign activity  Note: there is currently no lead generation being utilized on thought leadership – this should be implemented ◦ Traffic  To website or other off-social destinations using traffic referral and tracking codes  Quality and value of traffic – can do comparison of social referrals vs. referrals from other sites and advertising ◦ Reach  Number of followers and interactions including impressions, retweets, likes, shares and comments  Development of community – increase in followership and from whom; retweets and shares from media and key influencers ◦ Key Metrics  number of posts/month (connect to other activity – events and releases)  number of impressions/month – growth over previous month  Audience growth—unique and return visitors  number of visits/month – growth over previous month – to morneaushepell.com  Subscriber growth – can any subscribers be attributed to coming from social ◦ SEO improvement  Are search results improved for keywords used in social 37Sources Falcon Social - HOW TO CREATE A SOCIAL CONTENT STRATEGY FOR YOUR BUSINESS.
  38. 38. Reporting – Monthly and YTD Metrics 38 #% growth in social referral to corporate site compared to January 2015 Twitter Twitter followers Tweets in month Total tweets Twitter impressions for month Following #% growth in Twitter followers 2015 YTD LinkedIn LinkedIn followers as of b New followers updates Total Impressions in month Employees on LI as of • #% growth in LI followers YTD • #% increase of employees on LI YTD TRAFFIC Month Direct Referring Organic Search Social referral Email referral (Other)
  39. 39. Monitoring  As our participation in social increases it will become increasingly critical for us to be able to monitor social with automated tools  There needs to be a well defined process for managing customer service that comes through social  There needs to be a defined process for managing negative messaging 39
  40. 40. 40 Social Media Governance
  41. 41. Governance  Social Media Policy  Current situation  Roles and responsibilities  Processes 41
  42. 42. Social media policy  Create/update social media policy  Communicate to employees (include in new employee orientation) what the sanctioned use for ◦ social media is, and ◦ brand use within social 42
  43. 43. Our brand on social  Do a social audit for your company 43 “The average company can access 20 times as much information about you and your competitors as they could access five years ago” Professor Neil Rackham What do our social properties say about our brand?
  44. 44. Social properties today User Twitter LInkedIn Face Book YouTube (Google +) SlideShare Glassdoo r 44
  45. 45. Current - Twitter accounts  List any handles using corporate brand 45
  46. 46. Social Corporate website CRM Email campaig n software E- newsletters E- blasts 3rd party Blogs News wire Search Engine Marketing (ad words) Lead generation forms LI Pulse Apps LI Showcas e LI Groups Current digital ecosystem 46 Social media – monitoring and analytics software
  47. 47. Current social use  Who is using social?  Recruiting?  Corporate social responsibility?  Charitable sponsorship? 47
  48. 48. Current governance for corporate social Channel URL Handle/ identity Status Compo nents Importa nt dates Access Comments LinkedIn Twitter YouTube Facebook Glassdoor Google +analytics & adwords 48
  49. 49. Roles & responsibilities  Corporate marketing ◦ Oversight into all social properties and the use of the brand, as part of policy ◦ All requests for use of social media should be reviewed and approved  Corporate social media ◦ Strategy and management of social media is by ____ ◦ _____ provides back up for social media 49
  50. 50. Marketing social media focus  Create Tweets and LinkedIn updates for: ◦ News Releases ◦ Thought Leadership ◦ Events ◦ Adhoc requests 50
  51. 51. Current social media process  Outline your process – writing, approvals, translations, posting 51
  52. 52. Process for interactions in social media  Any complaints or comments on currently forwarded _____ ◦ Managing complaints  From employees  From customers/clients ◦ Crisis management  Social media counteracts the #1 criticism of all crisis response – Failure to speak promptly - Source: CNW webinar ◦ Customer Care  Social care -> Customer service 47% of customers are turning to social media vs. calling with an expectation of a response within the hour ◦ Responding to comments ◦ Social posting by employees (use of brand, logo or corporate name in any way) 52
  53. 53. 53 Business case
  54. 54. A case for social  Our competitors are using it  Our clients and prospects are using it  Our competitors can engage with our clients on it  Brands are using it ◦ social advertising, real-time customer service, participation; being authentic and providing sme (brand lift & awareness); sentiment  Social can be used for qualified lead generation and online sales  Social has a positive influence on brand positioning in major search engines 54
  55. 55. People resources  Identify who currently : ◦ Strategizes, ◦ monitors, ◦ manages, ◦ creates and posts  Time: consumes approximately 3 to 10 hours per week  If no dedicated resource, indicate other duties  For social media to increase an FTE is required - Social media specialist ◦ 1/2 hr /day monitoring ◦ 1 hr/day Twitter & LI posting ◦ 2 hr/day collecting/initiating content incl. images ◦ 1/2 hr/day supporting LinkedIn Showcase pages and blogs ◦ 1/2 hr/day planning & meetings ◦ 1 hr/day reporting analytics ◦ 1 hr/day supporting additional channels (e.g. YouTube, SlideShare, Wikipedia, Facebook, LI Groups) ◦ 1 hr/day supporting digital advertising and monitoring ◦ 1/2 hr/day providing adhoc support (e.g. recruiting) 55 http://www.socialmediaexaminer.com/report2015/ .
  56. 56. Business case - hours  Does your marketing plan have a heavy requirement for social?  Other than advertising and new development, cost for social is considered “free” and therefore dependency and adhoc requests are increasing  An FTE would enable social media to grow exponentially and provide the ability to support new initiatives and new channels 56 http://www.socialmediaexaminer.com/report2015/ More than half of marketers who’ve been using social media for at least 2 years report that • It helped them improve sales. • New partnerships were gained Marketers plan to increase use of: • Twitter 66% • YouTube 66% • LinkedIn 66% • Facebook 62% 73% plan on increasing use of visuals
  57. 57. Technology  Are you using social media sensing/monitoring software or do you need it to be a budget request?  Risk – without an aggregated view of mentions, negative comments may not be viewed or addressed in a timely manner impacting reputation and brand  Cost – once you’ve defined your requirements you can get a range of costs from various vendors 57
  58. 58. 58 Next steps…
  59. 59. Next steps  Update the social media policy and acceptable use of social and the brand in social ◦ Include request for use, including for:  Charitable initiatives  Recruiting  Customer Service ◦ Communicate it to employees  Request closing of any unused/abandoned properties  Standardize use of corporate social references including icons (e.g. last page on every presentation, signatures)  Update social identities 59
  60. 60. Next steps  Prepare and plan for increase demands on social media by: ◦ Hiring a FTE social media specialist ◦ Incorporate social care into social media ◦ Incorporate social media into crisis management plan ◦ Implementing social media monitoring software  Develop a social marketing ad campaign  Identify key influencers ◦ Develop a strategy to engage with them  Develop social media plans for each business aligning with marketing plan 60
  61. 61. Next steps  Develop a content management strategy (purpose/intent) ◦ Identify formats – text, photos, graphics/infographics, video, presentations  Ad more photos, repurpose video etc ◦ Define channel use  LinkedIn (company, career & showcase pages)  SlideShare  Twitter  Facebook  Wikipedia  YouTube  Blogs  GlassDoor  Other (instagram, pinterest etc) 61