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Getting the Most Out of Social Media

Falkirk for BusinessAnnual Conference, 2011

Dr. Jim Hamill Alan StevensonVincent Hamill

www.energise2-0.com

23rd September, 2011

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Key Success Factors and Practical Tips

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Social Media: The State of Play

Where are you in terms of social media?

Where are you going?

Social Media Planning Pays

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Practical Adviceand Next Steps to Avoid the Road to Nowhere

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Without Planning……..

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‘Getting There’

• Get More Involved• Listen, Monitor, Learn• Develop a Strategy• Implement• Monitor the performance

Discussed in more detail on our blog – www.energise2-0.com

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Get More Involved

• Audit/benchmarked existing progress• Build your social media presence

– Linkedin, Twitter, Blog, Facebook Page, – Google + etc

• Monitor the conversations• Identify, join, lurk in relevant groups/forums• Join the conversations

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Listen, Monitor, Learn

NOT a broadcast medium. Its about listening to and engaging with customers, partners, your community, your tribe

This is something we are not very good at doing. We prefer telling people how good we are

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Monitoring the Conversations

Use Social Media Monitoring Tools to develop ‘actionable insights’ from the online conversations taking place relevant to your brand – also for measuring ‘online brand buzz’

No or low cost tools such as Google Alerts, Yahoo Pipes, Social Mention, Topsy, IceRocket, Blogscope, Blogpulse and ViralHeat

More expensive and sophisticated tools such as Radian6, Alterian SM2, Sysomos Heartbeat and Infegy SocialRadar

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Social Media Monitoring

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Falkirk Wheel

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You can develop your own customised Social Media Monitoring System using

RSS Feeds

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Our Own System

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Social Media Planning PaysDevelop a Strategy

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Social Media Strategy Development

• Ensure that your social media efforts are:– are fully aligned with and supportive of your overall

business goals and objectives– that KPIs are agreed for monitoring and evaluating

social media performance, business impact and ROI– all key success factors are considered, especially the

organization, people and resource aspects critical to successful strategy implementation

Five Key Questions to Address

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Key Questions

• What is the overall social media vision for your organization?

• What are the key objectives and targets to be achieved?

• Who are your customers?

• Key Actions and Initiatives

• Organisation, Resource and People Issues

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‘Be Customer Led’

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Be Customer Led

• Who are our customers, community, tribe?

• Where do they hang out in social media?

• How can we best engage with and energise them?

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www.mashable.com

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Implement

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Be Social

New ‘mindsets’ are required to be successful in social media

‘BE SOCIAL BEFORE DOING SOCIAL’

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A conversationnot a broadcast platform

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Some Don’t Get It

Channel Action Plans

• Vision• Channel Objectives• KPIs and Targets• Customers• Key Channel Actions and Initiatives for ‘getting there• Organisation, resource and people issues• Tools and applications• Performance measurement• Do’s and Don’t’s

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Performance Measurement

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Performance Measurement

• New performance measures– Business success depends on the quality of your

customer base; the strength of the relationship you have with quality customers; and your ability to leverage that relationship

– In a social media era, business success depends on the • Quality of your network• Relationship strength• Ability to leverage

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Performance Measurement

Involvement – network/community numbers/quality, time spent, frequency, geography

Interaction – actions they take – read, post, comment, reviews, recommendations

Intimacy – affection or aversion to the brand ; community sentiments, opinions expressed etc

Influence – advocacy, viral forwards, referrals and recommendations, social bookmarking

Insight – customer insight Impact – business impact

Social Media Monitoring Tools –Audit, Assess, Impact

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The ‘6Is’ Approach

Insight and Impact

Involvement

InteractionIntimacy

Influence

31

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Monitor and Measure

• To ensure that your SM strategy delivers a return on investment, it is important to monitor and evaluate on-going performance benchmarked against agreed objectives, KPIs and targets

• Performance evaluation should be undertaken at three main levels…

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Monitor and Measure

• Individual Channel Performance– the effectiveness/success of each channel

benchmarked against agreed targets for the ‘4Is’ i.e. Involvement, Interaction, Intimacy and Influence

– most channels provide easy to access statistics for measuring each ‘I’ to a very high degree of accuracy

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Facebook Insights

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Facebook Insights

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Monitor and Measure

• Wider Social Media Performance– the overall ‘buzz’ being created– volume of mentions, trends over time, which channels

are driving your buzz, who is taking your message further, through which channels, and what affection or affinity they are showing, and so on

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Merchant City, Glasgow

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Monitor and Measure

• Underlying Business Performance– the performance of each social media channel and

the overall ‘buzz’ created are ‘lead’ rather than ‘lag’ measures

– in a social media era, they are the main ‘drivers’ of future business performance

– the final level of performance monitoring, therefore, is linking your social media activity to overall business goals and objectives e.g. enquiries, sales, customer loyalty, marketing effectiveness/efficiency/ROI. Is social media achieving your ultimate business objectives i.e. ‘lag’ measures?

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Bob Dylan

Come gather 'round peopleWherever you roam

And don’t criticiseWhat you can't understand

Your sons and your daughtersAre beyond your command

Your old road isRapidly agin‘

Then you better start swimmin’Or you'll sink like a stone

For the times they are a-changin’

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Thank YouQuestions

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