Implementing a social media strategy

Sieu thi dien may Viet Long - www.vietlongplaza.com.vn

Cost Effective Social Media
Marketing Strategies to
Maximize ROI
Hsien-
Tong Hsien-Hui
VP, Marketing and New Media
8th April 2009 @ Marketing Institute of Singapore

© Copyright 2009 Tong Hsien-Hui

Agenda

• Introduction to Social Media
• Implementation Process ?
• Measuring ROI
• Common Problems Faced
• What Others Are Doing


Introduction to Social Media

Old Model New Model
1 to Many The Multiplier



• Social Media is about interactions • Social Media is not just technology
• Social Media is about each • Social Media is not a short term
individual project
• Social Media provides a canvas for • Social Media is not something you
your creativity give an intern to do
• Social Media provides an outlet • Social Media is not a channel to
for you to show the world what blast your packaged ads
you can do • Social Media will not work without
• Social Media is about EGO YOUR participation



• What companies tend to use it for
– Market Research
– Public Relations/Marketing/Online Voice
– Branding
– Product Development
– Customer Service
– Promotions
– Presence


Implementation Process


Implementation Process?

• No One-Size-Fits-All Strategy
One-Size-Fits-
• A poor plan implemented well is often
better than a good plan implemented
poorly
• This is a long term business initiative


Implementation Process?

S – Stakeholders, Who are they?
W - Where are they?
O Objective(s)
- Objective(s)
P - Planning
- Community, Conversation, Context, Content

E - Execute
M - Monitor



Images
Micro
Webpage
Blog

Content
Creator
RSS Blog Platform

Bookmark Video



Success Factors
• Know your company
• Know your online community
• Interesting content
– Innovative (Controversy is a subset)
– Funny
– ‘Cool’
Cool’
• Informative and accurate content
• Frequent updates/changes/ replies
• Honesty and Acknowledgement
• Give “strokes” judiciously but frequently
strokes”
• Be consistent

Measuring ROI


Measuring ROI

• Qualitative
– Corporate Reputation
– Conversations
– Customer Relationships
• Quantitative
– Related Sales
– Traffic
– SEO Ranking
– Benchmark vs Competitors and Partners


Measuring ROI

Social Media can be Quantified
– Number of positive conversations
– Number of new qualified subscribers
– New sales
– New qualified leads
– Number of new product changes suggested
through this channel


Common Problems Faced


Common Problems Faced

• Internal
– Corporate Structure/Responsibilities
– Response time
– Loss of traditional one way communication channel
– de-
Change from centralized control to de-centralized control
– Consistent pricing and message is needed
• External
– Target audience may not be online
– Unless they are engaged, community often dies from lack of
interaction
– People engage with people, not with companies
– Everyone sees you….investors, competitors, customers,
you…
busybodies…
busybodies…..
– A few people can dominate the conversation….and influence
conversation…
the tide of opinion

What Others are Doing - Skittles


What Others are Doing – Vodka Absolut

Interest



Promote



Engage



Involve/Interact


What Others are Doing – Accenture

Podcasts

Staff Blogs


What Others are Doing – IBM

Limited Community


What Others are Doing - Dell


What Others are Doing – Starbucks


What Others are Doing – Nike


What Others are Doing – Nike

Connections


What Others are Doing – Burger King

Controversy


What Others are Doing – Red Bull


What Others are Doing – AT & T (?)

Will the real AT&T
stand up


What Others are Doing – Bank of America


Implementing a social media strategy

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