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Using Social Media Technology to Drive Measurable Business Value

“For me, transparency is a competitive weapon." ~ Sun COO Jonathan Schwartz on why he blogs

Presented by:

Jason VoiovichEcra Creative Group651.209.2778 or jason@ecracreative.com

What do we really want?

• Understand how social media works as a marketing channel

• Understand it as more than "blogging" and "podcasting" - although that (can be) part of it

• Understand how to graft a business process onto a repeatable model for success

Today’s Discussion

[1] Develop a simple framework to guide us through the process of analyzing any social media marketing channel

[2] Select three distinct examples:

–Catalog/Product sales support–Consulting/Reputation building–Competitive Intelligence

Distribution: Content Layer

Rule #1: Content is King.

Fresh and originalTimely and updatedMultiple media types

Content

Bridge: Enabling Layer

Rule #2: Get your hooks in it.

Depending on your goal, select a technology platform that will serve as the bridge between your content and social media technology.

Content

Enabler

Distribution: Social Media Layer

Rule #3: Be ready to experiment.

We can make educated guesses about who to reach and why they would care, but social media is a dynamic, ever-changing chaotic environment.

Simple answer: Go wide first, then refine. Content

Enabler

Social Media

Feedback: Analytics Loop

Content

Enabler

Social Media

“Give it a chance.”

HealthcareScoop.com now boasts 1241 stories.

(And a meaningful revenue generator and positioning tool for Consumer Aware, but it took 12 months.)

Example 1: excelcycle

Business Objectives:- Sell finished bicycles- Move older inventory (when new models come out)- Sell clothing and accessories- Schedule service appointment and encourage more- Build a tight-knit "community" of riders to boost repeat sales and differentiate their store

excelcycle Content Layer

Content

Enabler

Social MediaFinished CyclesComplete specifications (from the mfg)Excel's "take" (not just the mfg's)Mfg photosExcel's own photosVideo of the cycle in use

excelcycle Content Layer

Content

Enabler

Social Media Parts, Clothing & AccessoriesComplete specifications (from the mfg)Excel's "take" (not just the mfg's)Mfg photosExcel's own photosVideo of the cycle in use

excelcycle Content Layer

Content

Enabler

Social Media Service AppointmentsDetails and packagesBefore/After photosVideos of maintenance in actionTraining videos (DIY crowd); build vision of expertise

excelcycle Content Layer

Content

Enabler

Social Media CommunityInvest their own time in "rides" and "lifestyle" activitiesCycling advice and commentary (written)Training courses

excelcycle Enabling Layer

Content

Enabler

Social Media

Enabling TechnologyOnline store (tied into their store's sales and ERP system)eBay storeEmail distribution and tracking systemScheduling software

excelcycle Social Media Layer

Content

Enabler

Social Media

Social MediaYouTube (videos)Flickr (photos)Google Ads, etcBlogFacebook group and pageGoogle Calendar

excelcycle Feedback Loop

Content

Enabler

Social Media

Feedback Loop: What to measure?YouTube viewers: Clicks to product or service featuredFlickr viewers: Clicks to product or service featuredFacebook: Activity level in community, number of riders who show up at eventsTrack backs through blog, Facebook, YouTube, etc to their store or the eBay storeEmail clickthroughs to site, store

Example 2: Jason Voiovich

Business Objectives:Not trying to ‘sell’ anythingStay top-of-mind with my entire networkBuild a personal brandMaintain ‘warm contacts’

Jason Voiovich Content Layer

Content

Enabler

Social Media

Goal: Demonstrate ExpertiseState of the Brand brandWritten contentAudio content/versionWeekly schedule

Jason Voiovich Enabling Layer

Content

Enabler

Social Media

Enabling TechnologyEmail distributionOnline blog (as a repository of content)iTunes (for podcasts)

Jason Voiovich Social Media Layer

Content

Enabler

Social Media

Social MediaBlog Catalog, Technorati, Blog CarnivalsPull-In to Facebook page (personal network)Pull-In to LinkedIn page (professional network)Twin Cities Business (syndication)

Jason Voiovich Feedback Loop

Content

Enabler

Social Media

Feedback Loop: What to measure?Overall number of recipientsEmail views, new viewers, click-through, subscriptionsDirect phone calls or inquiriesComments (any media)iTunes subscriptionsSuccess of ‘re-warming’ effortsSpeaking opportunitiesNon-referral chain awareness

Example 3: Competitive Intel

Business Objectives:Essentially, social media “in reverse”Companies publish (or let slip) detailed informationGet a sense for market conditions prior to product launchGain perspective on competitive biddersOutflank market position on an existing line

Comp Intel Content Layer

Content

Enabler

Social MediaGoal: What do you want to know/protect

Want to know:1.Price ranges paid2.Customer satisfaction levels3.Feature requests4.Distribution channel/profitability

Want to protect:1.Launch timing2.Our own feature set3.Results of our own customer tests

Comp Intel Enabling Layer

Content

Enabler

Social Media

Enabling TechnologyYou need a central place to collect information from multiple sources.

Comp Intel Social Media Layer

Content

Enabler

Social Media

Where do you get data?RSS feeds on new posts and comments from guitar blogsPricing updates from eBay store, Best Buy, Guitar CenterFacebook guitar groups (free to join)“Test posts” (to gauge reaction to an idea anonymously)

Comp Intel Feedback Loop

Content

Enabler

Social Media

Feedback Loop: What to measure?Content analysis of blog posts, comments, and ratings (provide good feedback for product development)Response to our own “test marketing” in the social media community (using established sources)Pricing patterns on eBay stores (“to the moment” pricing information)

Other Business Objectives

What else could you accomplish?

Twitter-enabled customer serviceText message phone software sales & opinion pollingNew product training

Parting Thoughts

• Social media technology – even now – is very new; usually used in support of other efforts

• Be wary of “tactical” approaches (i.e. “I want to have a viral video”)

• Understand and invest in the ongoing effort it will take to build these ‘loose’ relationships that are at the core of social networks

Next Steps

• Decide if a social media channel is really worth the effort it will take. Social Media marketing is not “free” (at least, not free for you).

• Define measurable objectives that can be tracked via analytics data

• Develop a “working bank” of content to seed your initial efforts and ensure you can keep up the effort long-term

• Get assistance with the technology – or the entire process – if you need it. This is a marketing investment like any other. Treat it like one.

Contact Information

Jason VoiovichPrincipalEcra Creative Group651.209.2778jason@ecracreative.comwww.stateofthebrand.com