social media export session march 2011 v4 final
Post on 07-May-2015
1.046 Views
Preview:
TRANSCRIPT
ENERGISE2-0.COM
‘Creating the Buzz’
Social Media for Sustained Export Growth
Dr. Jim Hamill Alan StevensonVincent Hamill
www.energise2-0.com
March, 2011
ENERGISE2-0.COM
Thanks to our Partners
ENERGISE2-0.COM
Agenda/Content
• Background – SME Internationalisation• The Social Media Revolution – Key Things to Remember• Social Media and SME Export Barriers• Practical Examples
– Encouraging a global ‘mindset’, building confidence– Social Media Monitoring Tools for Export Market Research,
Insight and Understanding– Building a ‘Quality International Customer Base’
• Social Media Planning Pays• Implications/Discussion
ENERGISE2-0.COM
Agenda/Content
• Social media is marketing as a conversation with your customers – a conversation with your network
• Engagement, two-way dialogue, talk with NOT AT your customers
• If you have a question to ask or a point to make........
ENERGISE2-0.COM
Don’t bother because we’re not interested in what you think or what your experience can contribute to
this session. If you ask a question, or make a comment, we will ignore you
How many companies treat their customers that way?
ENERGISE2-0.COM
Background
• The importance of SME internationalisation to national economic growth is widely recognised in most developed and developing countries
• A range of policy measures are in place......
• But major barriers exist........Psychological, Organisational, Operational, Product/Market
• Used effectively, social media can help to overcome many of these barriers leading to the more rapid internationalisation of the SME sector
ENERGISE2-0.COM
Background
• Important research and policy implications; also for the teaching and practice of International Marketing – the skills and experience required
‘Social Media Planning Pays’
ENERGISE2-0.COM
The Social Media Revolution
ENERGISE2-0.COM
ENERGISE2-0.COM
ENERGISE2-0.COM
What is Social Media?
The three main components:
ApplicationsFeatures and characteristics
Business impact
International Business 2.0
Web 2.0 Applications
Open sourceOnline Applications/ Web ServicesSocial/ Professional Network SitesSocial Content – Social BookmarkingBlogs or WeblogsWikisPodcasts/ VodcastsVirtual RealitiesMash UpsRSS FeedsMobile Web; Internet TelephonyTwitterCharacteristics
Communities and NetworksOpennessSharingPeeringHosted Services – online applications; the Internet as the platformInteractivitySocial ElementMass CollaborationEmpowermentGlobal
Business Impact
MindsetBusiness IntelligenceCustomer Insight and UnderstandingCustomer InteractionEnhanced Customer Experience –
Rich Internet ApplicationsReputation ManagementSales and Marketing Product Development and R&D e.g.
engage and co-createIT/Software/ApplicationsOperations, Internal Processes and
HRM
ENERGISE2-0.COM
Social Media in Plain English
ENERGISE2-0.COM
How Big Is It?
ENERGISE2-0.COM
Business ImpactKey Things to Remember
ENERGISE2-0.COM
Key Things to Remember
• It’s social– A key feature is online democracy – with content being provided
by the network for the network – represents a fundamental and revolutionary change in online behaviour, expectations and the online customer experience. The end of the ‘read only’ internet. Conversations are taking place relevant to your business
• Power shift– Social media empowers customers, empowers the network.
Recognizing this shift is the cornerstone of future success. Customers increasingly rely on the network for information
• Declining effectiveness of traditional approaches – Does anyone listen to sales/brand messages anymore?
ENERGISE2-0.COMSource: The Future of Advertising, APA, 17/02/09 as published on Slideshare (www.slideshare.com)
ENERGISE2-0.COM
ENERGISE2-0.COM
Key Things to Remember
• Pull v push– Customers decide what information they wish to access
• New ‘mindsets’ are required– Marketing as a conversation with your customers/network–
dialogue not broadcasting– But this is something that most of us are not very good at doing.
We prefer ‘telling’ people• SM ‘winners’ and ‘losers’
– ‘Winners’ will be those organisations who fully utilise the interactive power of Web 2.0 technology for engaging with and energising customer and network relationships
ENERGISE2-0.COM
ENERGISE2-0.COM
ENERGISE2-0.COM
Key Things to Remember
• New performance measures– Requires new performance measures
• Quality of your network• Relationship strength• Ability to leverage
• Social media monitoring tools (see later)
• Redefines the concept of a web site– a blog integrated with your other social network sites
• The need for new business/marketing models
ENERGISE2-0.COM
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
ENERGISE2-0.COM25
The ‘6Is’ Approach
Insight and Impact
Involvement
InteractionIntimacy
Influence
ENERGISE2-0.COM
Key Things to Remember
The need for new business/marketing models
– Traditional approach:• Product development – Differentiate – Market and Promote -
Sell
– New model based on: • Communities, networks, openness, peering, sharing,
collaboration, customer empowerment, ‘think and act’ globally
• Engage and energise• ‘Create the Buzz’
ENERGISE2-0.COM
Potential Business Benefits
ENERGISE2-0.COM
Business Benefits
• Used effectively, social media can deliver the following business benefits– Market/Customer Knowledge & Insight– Engagement & Reputation Management– Enhanced Customer Experience and Loyalty– Sales/Marketing Effectiveness, Efficiency and ROI– Operations/ Internal Processes (open source and hosted
apps)
• But the key words are ‘used effectively’............
ENERGISE2-0.COM
Social Media and SME Export Barriers
ENERGISE2-0.COM
Article Download
ENERGISE2-0.COM
Barriers to SME Exporting
Barrier Role of Social Media (SM) Psychological Barriers
Domestic rather than global orientation SME participation in social/professional networking sites & forums helps to develop a more global ‘mindset’
Short-term perspective Effective use of SM speeds up the SME internationalisation process delivering quicker ROI
Lack of commitment to exporting Active participation in SM promotes greater awareness and enthusiasm for ‘going international’
Exporting seen as ‘too risky’, too time consuming
SM significantly reduces internationalisation costs and risks
Fear SM builds SME confidence in operating internationally
ENERGISE2-0.COM
Barriers to SME Exporting
Organisational Barriers Limited resources (financial, management time etc)
Use of SM as a low cost, but very effective, global marketing, communications and international networking platform
Lack of foreign market knowledge and understanding
Use of Social Media Monitoring Tools for export market research; country screening; identifying overseas sales opportunities
Lack of internationally experienced personnel Leverage ‘crowdsourced’ knowledge and experience; online virtual community for SME exporters
Lack of formal training in export marketing Potential for SM supported International Marketing training and management development
Sources of competitive advantage abroad By reducing international costs and risks, SMEs become more price competitive
Problems in finding the ‘right’ overseas agents/distributors
Use of SM to identify and build relationships with foreign market intermediaries; alternatively, by facilitating direct to customer relationships, SM helps to dis-intermediate the international supply chain
ENERGISE2-0.COM
Barriers to SME Exporting
Operational Barriers Export documentation; management of export operations; language problems; payment delays/risk
Use of open source software and hosted applications to improve operational efficiency and reduce costs. ‘Crowdsourced’ help and support through networks/communities
Product/Market Barriers Product/service may not be suitable for foreign markets; costly product adaptation required
Knowledge gained from Social Media Monitoring supports decision-making in this area
Limited resources available for country market screening/export market research to identify the most attractive foreign markets
Use of SM for export market research; direct to customer relationships reducing the need for country screening
Tariff & non-tariff barriers to trade Social Media Monitoring and participation in social/professional networking sites leads to greater understanding and awareness of barriers to trade
Profitability of exporting By significantly reducing costs and risks, SME exporting becomes more profitable
ENERGISE2-0.COM
Social Media in Action Overcoming the Barriers
ENERGISE2-0.COM
Social Media in Action
• Practical Examples– Encouraging a global ‘mindset’, building confidence– Social Media Monitoring Tools for Export Market
Research, Insight and Understanding– Building a ‘Quality International Customer Base’
ENERGISE2-0.COM
Encouraging a global ‘mindset’, building confidence
ENERGISE2-0.COM
Global 'Mindset', Confidence
• SME participation in export support sites, social/ professional networks & forums etc can help to develop a more global ‘mindset’, generate greater awareness enthusiasm and confidence
• Can help to speed up the internationalisation process leading to quicker ROI
ENERGISE2-0.COM
Support Sites
• Very large number of sites......
– General export support– Online Markets– Industry specific
ENERGISE2-0.COM
General Export Support Sites
ENERGISE2-0.COM
General Export Support Sites
ENERGISE2-0.COM
General Export Support Sites
ENERGISE2-0.COM
General Export Support Sites
ENERGISE2-0.COM
General Export Support Sites
ENERGISE2-0.COM
General Export Support Sites
ENERGISE2-0.COM
globalEDGE
ENERGISE2-0.COM
globalEDGE
ENERGISE2-0.COM
globalEDGE
ENERGISE2-0.COM
globalEDGE
ENERGISE2-0.COM
globalEDGE
ENERGISE2-0.COM
globalEDGE
ENERGISE2-0.COM
Online Markets
ENERGISE2-0.COM
Good Article
ENERGISE2-0.COM
General Marketplaces
ENERGISE2-0.COM
General Marketplaces
ENERGISE2-0.COM
General Marketplaces
ENERGISE2-0.COM
Industry Specific Communities
ENERGISE2-0.COM
BioSpace
ENERGISE2-0.COM
Food
ENERGISE2-0.COM
Drink
ENERGISE2-0.COM
Fashion
ENERGISE2-0.COM
From Web 1.0 to Web 2.0
• Most of these sites will have email newsletters/ RSS Feeds etc to help keep you up-to-date
• But this is a Web 1.0 way of doing things.....
• One of the major trends in recent years has been the emergence of a very wide range of Social Media Monitoring Tools
ENERGISE2-0.COM
Social Media Monitoring Tools and SME Exporting
ENERGISE2-0.COM
SMM and SME Exporting
• Lack of foreign market knowledge and limited resources for export market research/country screening are two of the main barriers to SME internationalisation
• Used effectively, Social Media Monitoring tools can help to overcome these barriers
• Can also support a ‘NEW’ approach to internationalisation
ENERGISE2-0.COM
Social Media Monitoring Tools
• Monitor and evaluate what is being said, by who, where and what impact – delivers actionable insights
• Three stage process– Aggregate what is being said – Natural language analysis – understand the data– Deliver actionable insights
• We have identified more than 100 Companies in this space
ENERGISE2-0.COM
Social Media Monitoring Tools
ENERGISE2-0.COM
Paid - Social Radar
ENERGISE2-0.COM
Paid - Radian6
ENERGISE2-0.COM
Free - Social Mention
ENERGISE2-0.COM
Or Create Your Own
ENERGISE2-0.COM
Social Media Monitoring: Benefits
They provide the following organisational benefits: – Market Knowledge and Intelligence. Where your customers, partners,
competitors and staff are hanging out online. – Customer Insight and Understanding. What your customers and their
influencers are saying about you or your competitors. – Identify and network with high value, high growth prospects.
Identifying key posts and follow-up actions. – Interaction with Key Influencers. Identify influential sources for
incorporation into a wider strategic response. – Reputation Management. Timely identification of potential reputation
issues. – Improved Sales and Marketing. New prospects, customer and market
opportunities. – Improved Performance Monitoring. Support a 4Is approach.
ENERGISE2-0.COM
International Social Media Monitoring
SMM tools can be used to…
(a) Augment a Traditional Market Scanning Approach
(b) Support a New approach
(c) Build a Quality Customer Growth Programme
ENERGISE2-0.COM
International Social Media Monitoring
(a) Support a Traditional Market Scanning Approach• Research and compare countries, industries, competitors
• Aid understanding, find communities and 'real-time' conversations around “environmental” issues: – Political and Economic environment– Social and Demographic environment– Technological and Technographic environment
ENERGISE2-0.COM
Country Scanning
ENERGISE2-0.COM
Understanding Trends
ENERGISE2-0.COM
Industry Scanning
ENERGISE2-0.COM
Understanding Peaks
ENERGISE2-0.COM
Competitor Analysis
ENERGISE2-0.COM
Political Insight
ENERGISE2-0.COM
Economic Insight
ENERGISE2-0.COM
Socio-Technological Data
ENERGISE2-0.COM
ENERGISE2-0.COM
International Social Media Monitoring
(b) Support a New Approach • Identify Applications, Platforms and Communities of interest
• Find and Engage Customers and Influencers
• Find relevant Conversations and Actionable insights
• For some companies, this new approach provides more immediate benefits
ENERGISE2-0.COM
Applications and Platforms (Nanotech)
On
Topi
c Po
sts
Source #
Blogs 250
Forums 250
Images 25
News 250
Twitter 250
Video 81
Total 1106
0
500
1000
1500
2000
2500
Blogs Forums Images News Twitter Video
Nanotechnology Landscape
ENERGISE2-0.COM
Key Blogs
Sources INFLUENCER NAME INFLUENCER TITLE
ON
TOPIC
POSTS
Blogs recent.articles http://www.NanotechObserver.com/nanotech.news.lines/NanotechObserver.com/recent.articles.rss109Blogs Nanotechnology News from Nanowerkhttp://www.nanowerk.com/nwfeed.xml104Blogs nanopatentsandinnovations.blogspot.comhttp://nanopatentsandinnovations.blogspot.com/52Blogs www.tmpsearchers.comhttp://www.tmpsearchers.com/nanotechnology50Blogs INDUSTRIAL NANOTECH, INC. - PRWeb Press Release Account Feedhttp://www.rsspad.com/rss2a/193346.xml45Blogs AboutNanowires.com http://aboutnanowires.com 35Blogs FrogHeart http://www.frogheart.ca 29Blogs SCIENCE and TECHNOLOGYhttp://mabsj2.blogspot.com/feeds/posts/default25Blogs NanotechIndex.com http://nanotechindex.com 22Blogs www.visionaryfuturst.comhttp://www.visionaryfuturst.com 22Blogs Ace Campaign http://acecampaign.com 22Blogs www.ipscelltherapy.nethttp://www.ipscelltherapy.net 20
ENERGISE2-0.COM
Key Groups (on LinkedIn)
ENERGISE2-0.COM
Key Accounts on Twitter
ENERGISE2-0.COM
…but on Facebook (more B2C)
ENERGISE2-0.COM
Identify Influencers
ENERGISE2-0.COM
Who’s saying what, where…
ENERGISE2-0.COM
Who do the Bloggers RT?
ENERGISE2-0.COM
Follow Tweeps
ENERGISE2-0.COM
Subscribe to Blogs
ENERGISE2-0.COM
Make the “Right” Connections
ENERGISE2-0.COM
Building a Quality International Customer Base/ A Quality Network
Quick Example from Linkedin
ENERGISE2-0.COM
The Company
• A new business start-up
• Supplier of hi-tech solutions to the neurotechnology and optogenetic sectors
• Project Task– Identify most attractive potential international customers
and a communications plan for engagement
• Who, Where, How?
ENERGISE2-0.COM
So how did we use this approach?
ENERGISE2-0.COM
Quality Customer Growth Programme
• Start with a ‘Customer Mapping Exercise
• Identified 3 main customer groups– Individuals in neuroscience– Neuroscience/optogenetic institutes, firms and clusters– Individuals in optogenetics
• Used Linkedin for building a customer database.....• Then position on the Customer Value Matrix• Communications strategy emerged from this.......
ENERGISE2-0.COM
QCGP
• 27,000 neuroscience profiles on Linkedin• 100 neuroscience institutes, firms, clusters• 50 neurotechnology companies• 50 individuals in optogenetics
• Further filtered to identify the Top 50 ‘best sales prospects’• Updated last week........
ENERGISE2-0.COM
39,666 Neuroscience People
ENERGISE2-0.COM
246 Neuroscience Companies
ENERGISE2-0.COM
22 Optogenetics People
ENERGISE2-0.COM
Society of Neuroscience 2,889 Members
ENERGISE2-0.COM
So what progress has been made by Scottish export companies?
ENERGISE2-0.COM
Progress Made
• Interest and enthusiasm for social media is growing rapidly - channels are being set up
• But there is a need for a more ‘strategic’ approach - clear social media vision and strategy, agreed objectives, KPIs, targets, ROI and on-going performance measurement
• More attention needs to be paid to organization, people, resource issues critical to on-going SM success
Social Media Planning Pays
ENERGISE2-0.COM
Some Advice for Moving Forward
ENERGISE2-0.COM
Moving Forward
• The key strategic, management and organizational challenges involved in planning, implementing and managing successful social media strategies for sustained business growth
• ‘Social Media Planning Pays’……. SM success requires sound planning and the application of professional project management procedures …. but not ‘paralysis by analysis’
• Ensure that your SM Strategy is fully aligned behind and supportive of your core business goals and objectives
ENERGISE2-0.COM
Social Media Development Cycle
ENERGISE2-0.COM
SM Development Cycle
ENERGISE2-0.COM
Each Step is being covered in detail on our blog at www.energise2-0.com
ENERGISE2-0.COM
Five Key Areas
• External Analysis: Evaluate Your Social Media Landscape• Internal Analysis: Evaluate Your ‘Readiness to Engage’• Develop Your Social Media Strategy and Action Plans for
‘Getting There’• Evaluate Your Social Media Performance and ROI• Organization, People and Resource Issues
ENERGISE2-0.COM
‘Be Customer Led’
Three key questions:
• Who are our customers, who do we wish to engage with?
• Where do we find them ‘hanging out’ on social media?
• How can we best engage and energise them?
ENERGISE2-0.COM
Develop Your Social Media Strategy and Action Plans for ‘Getting There’
ENERGISE2-0.COM
Use a Simplified Balanced Scorecard
• Will ensure that the social media actions and initiatives you take 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; and all key success factors are considered, especially the organization, people and resource aspects critical to successful strategy implementation
• A Scorecard approach can also be very useful for internal and external communications – a simple framework to present social media goals, objectives, key actions and initiatives to colleagues, partners and other stakeholders
ENERGISE2-0.COM
Social Media Balanced Scorecard
• Not ‘paralysis by analysis’. By providing an agreed framework to follow, the Balanced Scorecard considerably speeds up strategy development and implementation
• The steps involved can be captured in a Social Media Strategy Map
• Five key questions to address……
ENERGISE2-0.COM
Social Media Balanced Scorecard
• 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
ENERGISE2-0.COM
Social Media Strategy Map
Brief statement of your overall 2.0/Social Media Vision and Mission Strategic Objectives Customer Perspective Internal Management Perspective Organisation Perspective
Strategic Objectives KPIs / Targets
KPIs / Targets KPIs / Targets
KPIs / Targets
Customer Group 1
Customer Group 2
Customer Group 3
Customer Group 4
2.0/Social Media Initiative 1 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 2 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 3 - Objectives - KPIs - Targets - Actions
2.0/Social Media Initiative 4 - Objectives - KPIs - Targets - Actions
Organisation People Resource
ENERGISE2-0.COM
Organization, Resource and People Issues
ENERGISE2-0.COM
Organization, Resource and People
• Organisation, resource and people issues sit at the bottom of your SM Balanced Scorecard NOT because they are the least important issues to address. In fact, the exact opposite is true
ENERGISE2-0.COM
Conclusion
• Social media has become too important to ignore....
• A Social Media supported Export Strategy can help to overcome many of the barriers/obstacles
• But ‘plan the work and work the plan’
ENERGISE2-0.COM
Bob Dylan
Come gather 'round peopleWherever you roamAnd don’t criticise
What you can't understandYour sons and your daughters
Are beyond your commandYour old road is
Rapidly agin‘Then you better start swimmin’
Or you'll sink like a stoneFor the times they are a-changin’
ENERGISE2-0.COM
Thank You
Discussion
top related