hp social media roundtable - allen's intro and presentation

hosted by HP | sponsored by EIS and OutStart

Social Media for BusinessExecutive Roundtable, Cupertino CAApril 21, 2010

• Social media and Web 2.0 are top of mind for many of us. Especially as social networking and communities change the way we work, shop, socialize, and share ideas. But…how much of this translates to day-to-day business? And not just the ‘easy’ stuff!

• This roundtable event bring together social media, customer service, education and marketing leaders to share experiences, discuss successes/challenges, and learn about some of the latest trends and approaches for applying social media for business

• Thanks – to HP, our host; to our presenters, and to EIS and OutStart, our sponsors!

Welcome!

Agenda

Arrival and networking 9:00

Introductions – hot topics 9:30-10:00

Perspectives – from social networking to social business (Allen)

10:00-10:45

Case studies 11:00-12:00

Lunch – networking 12:00-12:30

Perspectives – building a social business (Esteban)

12:30-1:00

Moderated discussion /wrap up 1:00-2:00

Depart 2:00

Introductions + Hot Topics

Name, Company, Role+

One question or goal for today’s session

EvokeFrom Social Networking to Social BusinessAllen Bonde | Twitter.com/abonde | [email protected]

Key Questions…

Where are we in the growth and evolution of social media?How can we best apply social in mainstream marketing?

What is needed to drive business adoption more broadly?

Where are the fish?

Where are we in the growth and evolution of social media?

• What is the state of social media adoption (blogs and public social networks)…and how did we get here?

A Brief History

2003 2004 2005 2006 2007 20092008

Sources: company factsheets,Technorati, eMarketer, Wikipedia, press reports, Umass Dartmouth study

2010

Launch of Facebook

Launch of LinkedIn

Launch of MySpace Launch

of Twitter

Launch of Digg

Launch of Delicious Launch of

Huffington Post

Launch of Buzznet

Launch of Plaxo

launch

News Corp buys MySpace for $580M

MSFT invests $250M in Facebook

Google buys YouTube

Google buys Blogger

Yahoo! buys Flickr

invest

10 M blogs

LinkedIn 10 M members

LinkedIn 33 M members

Facebook 100 M active users

Facebook passes MySpace in monthly visitors


94 M US blog readers

346 M WW blog readers

Twitter 6 M US adult users

Twitter 18 M+ US adult users


79.5 M US online social network users (monthly)

22% of F500 have public facing corporate blogs; 86% of these link to corp Twitter account

60 M blogs LinkedIn 60 M members

400 M

Ad model

growth

Some Definitions

blogs, wikis, forums, public social networking sites, microblogging (Twitter), audio or video sharing sites, where a community model is in play and user-generated content and connections are the primary currency. These are the “channels” for social media marketing

the general class of Web 2.0 “packages” geared toward enterprise users (also called Enterprise 2.0). SBS to this point has mostly been used to power private/company communities and public or specialty forums where scale or management or monitoring is key

Social Business Software

Social Media Marketing

the business use of social media for

engaging customers, building brand,

creating leads and/or driving product

innovation

Social Media

Selected Social Trends

63% say social media “very desirable/critical” to service & support org in 2 years (TSIA)

Service & Support

Yet TODAY, only 2-10% of total customer service & support is handled using social media (TSIA)

35-54 and 55+ two fastest growing age groups on Facebook

4 out of 5 online Americans use social content at least

once a month (Forr)social networks and blogs now the 4th most popular online activity – ahead of personal email (Nielsen)

Marketing

Ford Motor Co. is spending 25% of its marketing dollars on digital and social media (BW)

As paid social ads top $1.3B in 2010 (eMarketer), are traditional agencies / media buyers ready for new channels?

What’s the

hook?

How can we best apply social in mainstream marketing?

Community Marketing Model (CMM)

CORE BELIEF: every relationship begins with a discussion.

WHAT THIS MEANS: in today’s Facebook world, a key role for marketing (and customer service!) is using social media/networking to engage in discussions* – ideally steering and monitoring the community as it defines your brand and products – and then to capture feedback which 1) iteratively improves the brand experience and 2) generates leads.

* Community discussions can span online and offline channels

Creating a Framework

GOAL: add structure and repeatable process

around using online social media and offline

marketing and community-building

programs so businesses can participate as a

regular trusted advisor

CMM in Action – it’s all About Discussions!

FeedbackFeedback

EngagementEngagementConversationsConversations

Wiki/blogs

Social sites Ratings/ Reviews

Social Search

generatesqualified

leads

Community management

Profiling

PR, local events

Market research

Surveys

Focus groups

community defines the brand

defines product / solution /partners

defines theexperience

offline

online

Monitoring/analyticsProduct

Innovation

MessageTuning

1 2

3

Managing Social Channels

One overall social strategy + (separate) channel owners/tactics needed

Social media campaigns must target unique characteristics of each channel

Each social channel has its own “persona” – demographics, usage, style, rules etc.

Social Channel Persona Spider Chart

Age

fun

Relationships

Activity

Tone

work

young

mature

anonymous

friends

casual

business

Persistenceminutesmonths

Twitter

LinkedIn

usage

demographics

66% under 25

style

60% over 25; more females

Facebook

Blogs

58% over 35; more males

Cross-links are key…• LinkedIn to Twitter updates• Twitter to blog content• Website to Facebook fan page

• Many top brands (esp. retail, media, high-tech) have high Twitter influence/engagement scores – but not all; and some companies (esp. in cable TV, insurance) who have invested heavily in Twitter have NOT seen a bump in their brand/experience scores

Twitter and Brand Value – a correlation?

Forrester CxPI scores vs. Twitter Grader scores

CxPI ranking

Twitter Grader “influence”

Top 10

Bottom 10

90 95 100

Barnes & Noble

Marriott

Hampton Inn (Hilton)

AmazonHoliday Inn (IHG)

Kohl’s JC PenneyComfort Inn (Choice) Macy’s

Bj’S Wholesale (not active)

CharterUHG (Feds)

Medicaid (CMS Gov)

HSBC (careers)

Comcast Aetna (not active)CIGNA Qwest

(talkto)

CITI (forward)

US Airways

How to scale?

What is needed to drive business adoption more broadly?

Moving from Social Networking to SBS

Social business strategy often evolves from initial efforts with social media/marketingIntegrating with core biz processes and communication leads to need for new platforms

Vendors such as OutStart, Jive, Lithium, Socialtext etc. offering ‘SBS’ or Social CRM solutions

Making a Business Case

Internal applications – access to knowledge and experts, lower communication and travel costs, and increased employee satisfaction are top benefits

Customer applications – increased marketing effectiveness, improved customer sat and lower marketing/support costs are top benefits

• The recent McKinsey global survey and a growing list of case studies show clear gains from initial adoption of Web 2.0, with blogs and social networking/forums tops among approaches in terms of measurable benefits.

Sources: McKinsey Global Survey, 2009 (survey of 1,700 global executives); for list of some companies using social see: http://mashable.com/2008/07/23/corporate-social-media/

• Yet (IMO) few companies are using Web 2.0 tools for core business processes due to challenges handling structured and unstructured data, along with questions about trust models and integration between enterprise and social content!

COMMON BENEFITS

Checklist for Social Business Strategy

1. mission statement2. ownership3. employee policies4. community monitoring5. marketing plan6. channel strategies7. community strategies8. platform strategy9. social dashboard10. action plan

SEE : 10 Steps to a Practical Social Media Business Strategy, Allen Bonde, SearchCRM.com, 27 Jan 2010

Bottom Line

Social is clearly disruptive + attractive, but path to full-scale social business still unchartedSocial media marketing more proven, builds on community/ multi-channel marketing (mostly)

Watch for: mobile/ location/ Twitter apps, lots o M&A! + listen to Gautam and Esteban!