You are on page 1of 27

Social Media Strategy: !

A Practical Guide for Marketers


December 2009

Setting Expectations
This presentation IS NOT
A history of social media A qualitative thesis on why social media matters A compilation of things you already know

This presentation DOES


Recap the business case for Social Media Address pitfalls of social media marketing Explain how to avoid social media pitfalls Provide a roadmap for a social media strategy

Social Media Strategy Spur Interactive 2009

Table of Contents
Business case for Social Media Social Media Pitfalls Avoiding Social Media Pitfalls Social Media Strategy Framework

Social Media Strategy Spur Interactive 2009

Social Media: a Powerful Force


The Web is essential in our daily lives
33% of media Boomers are gaining on Gens X/Y

Other Print Radio TV Online

consumption(1)

Social media to comprise 50% of usage(2)


Social media now surpasses Email in global reach(3) Fastest growth: women over 50

Word of mouth is reaching a new level


Millions of interactions take place every hour Brands are being discussed 24/7

(1)Pew Research foundation 2009, (2) Forrester, 3) Nielsen Online


Social Media Strategy Spur Interactive 2009

5 Reasons to Embrace Social Media


1. You are already involved in Social Media
Your employees are doing it Discussions about your brand are taking place If you participate you can shape outcomes

2. Comparative advantages

Word of mouth is #1 inuencer of purchases Does not require a media budget Viral effect can carry a message a long way Among top 100 Brands, those using social media

3. Revenue growth

saw 18% lift in revenue (Altimeter / Wet Paint 2009) 91% of Inc. 500 use social media (Umass Dartmouth 2009)
Social Media Strategy Spur Interactive 2009

5 Reasons to Embrace Social Media


4. Must-have for Corporate Marketing:
Creating brand awareness and consideration Inbound marketing / research Community relations Recruiting / employee relations Investor relations Crisis / corporate communications

5. Search Engine Rankings!

Can produce great results! See example on next slide

Social Media Strategy Spur Interactive 2009

Case Study: Social Media Drives Search

Used social media to obtain 3 of top 4 listings for social media business case

Social Media Strategy Spur Interactive 2009

How Important is Social Media?


Importance of Social Media to Inc. 500
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Very Important Somewhat Important Somewhat Unimportant Very Unimportant No Response

80+% lift

2007 2008

Source: UMASSD Center for Marketing Research 2008 Social Media Strategy Spur Interactive 2009

How Are Leaders Using Social Media?


Inc. 500s Use of Social Media Today
60%

2007 2008

90+% lift
50% 40% 30% 20% 10% 0% Bulletin Boards

100% lift

100+% lift

Social Online Video Blogging Networking

Wikis

Podcasting Don't Use

Source: UMASSD Center for Marketing Research 2008 Social Media Strategy Spur Interactive 2009

How Social Media is Being Utilized

Social Media Strategy Spur Interactive 2009

10

Social Media: Where the Growth Lies

Social Media Strategy Spur Interactive 2009

11

Social Media Pitfalls

Rush to action without a plan Lack of objectives and measurement Content guidelines Failing to engage audiences Limited Reach

Social Media Strategy Spur Interactive 2009

12

Social Media Pitfall #1: Rush to Action


Rushing to action without a plan (shiny new object)
Hasty decisions and knee-jerk reactions One-off approach Focus on the wrong objectives or platforms Failing to understand requirements and resources GMOOT!
(get me one of those)

Social Media Strategy Spur Interactive 2009

13

Social Media Pitfall #2: Measurement

Success requires:
Dened and measurable objectives Metrics that tie to those objectives Tools (and knowledge) for tracking metrics Ability to translate online activity to business results Methodology to calculate ROI Awareness
Sample Reports shown on next 3 slides
Social Media Strategy Spur Interactive 2009

Consideration Preference
14

Social Media Report: Buzz Volume Trends


Buzz Chart: Mentions of Client vs. Competitors (source: Nielsen Online)
Q3 Q4 Q1 Q2 Q3

Social Media Strategy Spur Interactive 2009

15

Social Media Report: Sentiment


Sentiment: Client vs. Competitors (source: Nielsen Online)

Social Media Strategy Spur Interactive 2009

16

Social Media Report: Buzz Volume Cross Topic


Buzz by topic: Client vs. Competitors (source: Nielsen Online)

Social Media Strategy Spur Interactive 2009

17

Social Media Metrics


Engagement metrics Site visits Unique visitors Visit frequency Page views per visit Time on site Registrations Conversions Web 2.0 Metrics Posts Tweets and ReTweets Facebook Fans Followers Ratio: Following to Followers Mentions Content views Content uploads Shared pages Sentiment ratio Page 1 search rankings

18

Social Media Pitfall #3: Content


While content is critical, it is often an afterthought Once the genie is out of the bottle, its too late Requires content planning
Format: copy, video, photos, audio Type: original vs. repurposed Source: where will it come from?

Requires approval
Brand guidelines Legal issues (beware of astro-turng!) Must be engaging
Social Media Strategy Spur Interactive 2009

19

Social Media Pitfall #4: Failure to Engage


Social Media is about listening and ! interacting vs. shouting
Spray and Pray doesnt work Think: Telephone vs. Megaphone

Engagement hurdles:
Lack of interesting and relevant content Self-focused content Too much self-promotion

Social Media Strategy Spur Interactive 2009

20

Social Media Pitfall #5: Limited Reach

Social Media only works with a large audience Process of building a network is often overlooked Without reach, there is no ROI
Social Media Strategy Spur Interactive 2009

21

Avoiding Social Media Pitfalls


Goals: Who and What?

Dene audiences and identify inuencers Dene objectives Set reasonable expectations

Media: which social media platforms?

Engagement: how to listen and interact?


Content: types of media, voice, frequency Duties: producing, posting, sharing, responding Policy: addressing negative comments
22

Social Media Strategy Spur Interactive 2009

Avoiding Social Media Pitfalls (cont.)


Reach: how will you promote your program? Online, email, ofine, PR, word of mouth How will you build your network? Resources: what is needed; what will it cost? People, process, assets, tools, etc. Metrics: how will you measure success? What metrics will you use? What tools will you use? How will you translate into ROI?
Social Media Strategy Spur Interactive 2009

23

The Missing Piece in Social Media?

Strategy.

Social Media Strategy Spur Interactive 2009

24

Social Media Strategy: Roadmap for Success


Components of a Social Media Strategy
Audiences Objectives and Metrics for measuring success Team and resources Key inuencers (and tactics for engaging them) Social Media sites, networks and groups Content guidelines Operational plan for producing, posting, sharing Marketing plan to promote and build network Tools (inuencer tracking, monitoring, reporting) Methodology for translating activity into ROI

You now have a framework for your social media strategy!


Social Media Strategy Spur Interactive 2009

25

In Closing
Social media is not the holy grail or a panacea for all ills but it is a powerful force that WILL impact your business Like all things in business, success begins with a strategy so remember your proverbs: measure twice, cut once Lets stay in touch!

Check out our blog http://blog.spurinteractive.com Connect with me on:


Twitter: @stevelatham Facebook: slatham LinkedIn: stevelatham

Social Media Strategy Spur Interactive 2009

26

About the Presenter


Steve Latham is the founder and CEO of Spur Interactive, a strategic interactive marketing agency. In this role, Steve has planned and managed successful campaigns for brands such as Continental Airlines, FedEx Kinko's, ConocoPhillips and others. In the realm of social media, Steve has extensive experience in developing and executing social media strategies that produce measurable business value. Steve is an accomplished industry lecturer and thought leader. Steve speaks frequently at industry events including Search Engine Strategies, Online Marketing Summit and Interactive Strategies. Steves articles have been published by MediaPost, Online Media Daily, iMedia Connection, Marketing News and Bizjournals.com. Steve has been quoted in B2B Magazine, PR Week, Fortune and CNN.com. Steve received an MBA from Harvard Business School and a BBA from the University of Oklahoma. You can read Steves articles at blog.spurinteractive.com and at OnlineMarketingConnect.com.

facebook.com/slatham

@stevelatham ! www.linkedin.com/in/stevelatham

Social Media Strategy Spur Interactive 2009

27