social media/social business: strategy and management
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Slides for the 3 day Social Media/Social Business: Strategy and Management elective class on the Strathclyde MBA Programme, Abu Dhabi, February 2014TRANSCRIPT
SOCIAL MEDIA/SOCIAL BUSINESS: STRATEGY AND MANAGEMENT
MK804
Dr Jim Hami[email protected]/in/drjimhamill
A note on terminology….
Social Media (External) Social Business (Internal)
Course Overview
The Social Media Revolution……
• Key issues involved in developing, implementing and proactively managing an effective Social Media/Social Business Strategy for building sustained customer and competitive advantage
• A simplified Balanced Scorecard approach will be used to ensure that social media/social business actions and initiatives are fully aligned with and supportive of core business goals and objectives. A key focus will be the use of agreed KPIs and targets to measure on-going social media performance and business impact
Learning Outcomes
Subject specific knowledge and skills: • Opportunities and threats presented by the Social Media
Revolution (Internally/Externally)• Key issues involved in developing an effective Social Media/Social
Business Strategy• Steps involved in successful strategy implementation and
management• Key social media/social business success factors• Balanced Scorecard approach to measuring social media/social
business performance and business impact• Organisation, people and resource issues critical to social
media/social business success• Practical case examples of social media/social business in action
Learning Outcomes
Cognitive abilities and non-subject specific skills:• Undertake a social media/social business landscape analysis for
your organisation• Set up a Social Media Listening System• Develop an agreed Social Media/Social Business Strategy for your
organisation• Agree the core business objectives, goals and targets to be
achieved• Identify the key social media actions and initiatives to be
implemented and an ‘Action Plan’ for getting there• Agree the Key Performance Indicators (KPIs), metrics and
analytics to be used in measuring social media performance, business impact and ROI
• Ensure that all key success factors have been considered
Teaching and Learning Methods
The four main teaching and learning methods used in the class will be:
• Lectures and related support material• Open discussion and debate in class• Group work - develop an agreed Social Media Strategy for an
organisation of your own choice• Group presentation
Questions
If you have any questions, don’t bother asking because I don’t really care if you have any questions, what your opinion is or what you think.
If you ask a question I will ignore you
How many companies treat their customers that way? How ‘social’ is your organisation?
Four out of five companies do not respond to customer comments on social channels
A conversation not a broadcast
presentation
Assignment
• The assessment for this class will be a group assignment involving a class presentation and preparation of a Social Media Strategy Document for an organisation of the group’s own choice (Word limit: 3,000 words)
• Students failing to pass the assignment with a mark of 50% or
more will be required to resubmit
Assignment/Group Work
Groups of 4/5 students
Taking an organisation of your own choice, evaluate the progress made in adopting social media. Your evaluation should cover use of social mediaon the organisation’s own web site and the extent of their involvement in external social media sites.
Make strategic recommendations for improvement
Agenda
• Understanding the Basics - The Social Media Revolution; Social Media in Action – Examples; Key Things to Remember about Social Media; Social Media Listening System
• From Social Media to Social Business
• ‘Getting There’ – Social Media Planning Pays• Social Media/Social Business Strategy Development• Implementation• Performance Measurement and Business Impact
• Group Work
Timetable
Thursday (all day) & Friday (AM)• ‘Lectures’ and class discussion
Friday (PM) & Saturday (AM)• Group work
Saturday (PM)• Group presentations
Social Media (External)
Let’s start with a few questions?
Social Media: The State of Play
Where are we in our use of social media?
What progress has been made?
Where are we going?
What road are we on?
Our View on Progress Made
Interest and enthusiasm has grown rapidly
Channels are being set up
But lack of strategic planning leads to problems down the line - resourcing, content, customers, performance measurement, business impact and ROI
A broadcast mentality prevails…….
Is there something fundamentally wrong with our
approach to Social Media?
Something Wrong…..
Are we using social media as just another PR/marketing channel for broadcasting messages AT customers telling them how good we are?
Is anyone listening anymore?
Have the rules of businesschanged?
Be Social
New ‘mindsets’ are required to be successful in social media
‘BE SOCIAL BEFORE
DOING SOCIAL’
Be ‘Customer Led’
Talking WITH rather than AT your customers is the core foundation of a successful social media strategy
The basis of a good conversation is to listen first
The Social Media Revolution
Social Media
An Overview
»Applications»Features and Characteristics»Implications
Social Media
Applications
Open sourceOnline Applications/ Web ServicesSocial/ Prof Network SitesSocial BookmarkingInternal Social TechnologiesBlogs or WeblogsWikisPodcasts/ VodcastsVirtual RealitiesMash UpsRSS FeedsMobile Web; Internet TelephonyTwitter
Characteristics
Communities and NetworksOpennessSharingPeeringHosted Services – online applications; the Internet as the platformInteractivitySocial ElementMass CollaborationEmpowermentGlobal
Impact – Wikibusiness
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
Social Media in Plain English
How important has it become?
The Social Media Revolution
ENERGISE2-0.COM
Social Media – Big in MENA
Potential Business Benefits of Social Media
Potential Business Benefits
• Market Knowledge
• Customer Insight and Understanding
• Customer Interaction/Service
• Enhanced Customer Experience
• Business Intelligence
• Reputation Management
Potential Business Benefits
• Improved Sales and Marketing
• Identify and network with high value, high growth prospects
• Product Development and R&D e.g. engage and co-create
• Internal cost savings
• Improved Operations/Internal Process Efficiency/Collaboration
• Increased ROI
Potential Business Benefits
5 main areas:
• Market/Customer Knowledge & Insight
• Engagement & Reputation Management
• Enhanced Customer Experience and Loyalty
• Sales/Marketing Effectiveness, Efficiency and ROI
• Internal – efficiency, knowledge exchange etc
Social Media in Action – Some Quick Examples
In a Social Media Era, the Brand Becomes the Customer Experience of
the Brand
A quick ‘personal experience’
Dubai Hotel (will be shown live in class)
United Breaks Guitars
Crowdsourced NPD
The rules of the game have changed
The 5 key things to remember about Social
Media
1. It’s a Revolution
A fundamental and revolutionary changein online behaviour, expectations and the online customer experience. The end of the ‘read only’ internet
Content generated by the network for the network
We are no longer passive consumers of content/brand messages
2. It’s Social
A conversation not a broadcast platform
Conversations are taking place relevant to your brand – are you listening?
Social Media Listening
Some Useful Tools
www.feedly.com
www.topsy.com
www.socialmention.com
www.mention.net
www.socialreport.com
Feedly for JH
Brand Sentiment
Social Report (Linkedin)
Social Report (Linkedin)
3. Power Shift
Social media empowers customers, empowers the network
We no longer control the brand The brand becomes the customer
experience of the brand – experiences that are widely
shared online
Social Customer Service
• Positive word of mouth spreads quickly; negative word of mouth even more quickly
• Social Customer Service is the next major frontier………..
4. Declining Effectiveness
Declining effectiveness of traditional approaches to sales and marketing Does anyone listen any more?
We are no longer passive sheep waiting to be ‘driven’ to your web site
If you treat us like sheep, we will tell youto ‘flock off’.
Do You Listen?
Source: The Future of Advertising, APA, 17/02/09 as published on Slideshare (www.slideshare.com)
Do You Listen?
5. The End of Business as Usual
New ‘mindsets’, new business approaches and new performance measures are required
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
The Connected Customer
The End of Business as Usual
‘Winners’ will be those organisations who fully utilise the interactive power of Social Media for engaging with and energising customer
and network relationships
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
The 6Is Approach
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
The 6 Is Approach
Lag and Lead Measures
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’
A note on Inbound/Content Marketing
Rethinking Marketing & PR
• Unlearn marketing
• New ‘mindset’ required
• Stop telling people how good we are. Prove it.
• A shift from Outbound Marketing to Inbound/Content Based Marketing
Inbound v. Outbound
Old Marketing (Outbound)
• Propaganda marketing – this is how great our product/service is, now buy it
• Interruption marketing –direct mail, advertising
• One way shouting AT customers
• Short term sales/campaign driven
• Channels – Print Ads: TV/Radio Ads; Cold Calling; eMail Blasts; Online Advertising; Web Sites that talk AT you
Reality Check
Customers are no longer passive sheep
Inbound/Content Marketing
• Content is King! – But content is only ‘great’ if it adds value to the customer so….
• Customer is King! Adopt a customer led approach• Produce great content that is ‘Customer Led’; Authentic;
Compelling; Entertaining; Surprising; Valuable; Interesting
• Establish your company as a ‘thought leader’ – a ‘trusted resource’
• Produce great content and your customer will come to you. Produce really great content and they will share it
• Key channels are ……………..
Inbound/Content Marketing
Inbound/Content Marketing
• Overall objective is to ignite or elevate your business through great content
• Sell without selling
• Build a quality online network – a quality customer base through high value content and engagement
• Great content drives conversation. Conversation drives engagement. Engagement drives sales
Great, customer led content is a Competitive Advantage
The Elevation Principle
Great Content + +Other People –MarketingMessages =Growth
Great Content Ignites Your Business
Create Music Not Noise
The Importance of Key Influencers
From Social Media to SocialBusiness
The times they are a changin'
• Current leading-edge thinking is that we are on the verge of another tectonic shift: from Social Media to Social Business
• A Social Business is one that develops innovative new work methods and processes by applying social thinking, social strategy, social culture, social organisation and social technologies to everything it does (internally as well as externally)
• Organisations who ‘get this’ will survive and prosper - those who don’t will become 21st century dinosaurs
Theme for This Session
Business & Personal Success in an Era of Disruptive Technologies
What do the following companies/products have in common?
In Common?
What about these ones?
Digital Dinosaurs
All have become (or could become) Digital Dinosaurs due to their failure to adapt to Disruptive Technologies
What Does HMV Stand For?
(HMV) Hopelessly Misplaced Vision
Redefining the industry
Who Will Be The Next Dinosaur?
Blackberry?
Microsoft?
Who Will Be Next?
MOOCs
The Future of Education
Spot the Dinosaur
The Future of Higher Education?
Digital Darwinism
Digital Darwinism
Digital Darwinism
WTF
Emerging Markets
So why now…..?
Why Now?
Why Now?
Social Media + Mobile + The Cloud + Big Data + Gen C
= The End of Business as Usual
The Connected Customer
The Connected Customer is also the Connected Employee
Implications?
Social Media – Big in MENA
No organisation too big to fail, nor too small to succeed
Do we need to adapt or die?
Digital Darwinism
Customer empowerment and the declining effectiveness of traditional approaches to sales and marketing
Power Shift
Social media empowers customers, empowers the network
We no longer control the brand The brand becomes the customer
experience of the brand – experiences that are widely
shared online
Unlearn Marketing
Brian Solis - Ultimate Moment of Truth
Constantly connected customers (especially Digital Natives) require
constantly connected Social Customer Service Excellence
Digital Natives (2005)
Rupert Did Not Assimilate Too Well - $580m Failed Acquisition
Social Customers
Brand Sentiment
Social Customer Service
Email has become a productivity buster – there is a better way of doing business
………become a Social Business
Do You Need to Become Social?
• Are you struggling with too many emails?
• Attending too many meaningless meetings?
• Wasting time looking for that file/information you know you have?
• Dealing with more discerning and demanding customers?
• Do you feel disengaged?
Do You Need to Become Social?
• Can improvements be made in internal communications?
• Improvements in knowledge sharing and business processes?
• Improvements in external communications?
• Faster response times?
• Is your organisational structure too hierarchical? Does it encourage innovation?
Productive Time
Productivity Busters
Global Workforce Survey 2012
eMail v. Social
A Better Way to Collaborate
Enterprise Networking Tools
A Better Way to Collaborate
What is Social Business and why has it become ‘mission
critical’?
What Is Social Business?
• A Social Business is one that develops innovative new work methods and processes by applying social thinking, social strategy, social culture, social organisation and social technologies to everything it does – to all value chain activities (sales, customer service, finance, logistics, HRM, quality, marketing, operations, internal processes, administration etc)
• Potential business benefits include improved efficiency;
agility and speed of response to rapidly changing market conditions; lower costs; increased sales; enhanced customer loyalty; employee engagement; enhanced partner and stakeholder relationships
What Is Social Business?
• Social Business involves work methods, organisational structures and ‘mindsets’ which are radically different from the ‘Industrial Age’ command and control structures still used by the majority of organisations. The use of social media and the adoption of a social ‘mindset’ moves from the periphery to the core of your organisation
• It is no longer just about Twitter and Facebook. The key challenge is the way in which your organisation embraces and cultivates a spirit of collaboration based on open communications, internally and externally. Being lean, nimble and responsive to dynamic change based on engagement and transparency
What Is Social Business?
• A ‘4Cs Model’ can be used to explain the business benefits of ‘being social’
• The key question to address is how can your organisation best use social technologies to build relationships and derive tangible business benefits from four main customer groups:
• Existing Customers• Potential Customers• Internal Customers (Staff)• External Customers (Business Partners)
Potential Business Benefits
Based on an in-depth analysis of 4 key sectors representing 20% of global sales, McKinsey found that social technologies could potentially contribute $900 billion to $1.3 trillion in annual value across the four sectors
Potential Business Benefits
• Two thirds of the improvement would be from better collaboration and communication within and across enterprises
• The average knowledge worker spends an estimated 28% of the workweek managing e-mail and nearly 20% searching information or finding colleagues to help with specific tasks. Using social media can cut down this time spent searching for information and people by 35%
• Companies have an opportunity to raise the productivity high-skill knowledge workers by 20 to 25%
McKinsey
Not Just Productivity Improvements
• Social Marketing – more cost effective and efficient• Social Customer Service – enhanced reputation and
brand advocacy• Social HRM – improved staff engagement and loyalty• Social NPD – crowdsource NPD, faster speed to
market acceptance, more cost effective• Social Relationships - enhanced partner and
stakeholder relationships• Flexibility and speed of response• Etc
Some Videos(Available on YouTube)
Also – blog post on Energisehttp://energise2-0.com/2013/01/07/best-social-busines-videos
/
Videos
Social Business – Rethinking Innovation, Organization and Leadership (from LeaderLab)
• Business is changing but much of our management is still rooted in the Industrial Revolution. Why do we keep educating our leaders in old paradigms? Tear down the internal Berlin walls. Social software delivers a new paradigm for collaboration, sharing and crowdsourcing. The time has come to rethink the way we do business. Is your organisation ready?
Videos
The Difference Between Social Media and Social Business, Sandy Carter of IBM
• In the age of Social Customers and Social Employees, becoming a Social Business is not an option, it is a mandate
Videos
Social Media Revolution 2013
Why Social Business has become mission critical?
Social Business In Practice
Other Salesforce Examples
Salesforce Examples
What are the Barriers?
Barriers and Obstacles
• Changing Organisational Culture and Work Processes is the biggest challenge NOT technology
• Requires leadership and Social Business Champions
• A range of technologies are available
From This
To This
To This
Social Business Technologies
Practical Next Steps
‘Getting There’
Social Media/Social Business Strategy Development and
Implementation
Practical Adviceand Next Steps to Avoid the Road to Nowhere
‘Social Media/Social Business Planning Pays’
Social Media/Social Business Strategy and Action Plans
Use a Simplified Balanced Scorecard
• Will ensure that the social media/social business 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/social business 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/social business goals, objectives, key actions and initiatives to colleagues, partners and other stakeholders
Social Media/Social Business BSC
• 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/Social Business Strategy Map
• Five key questions to address……
Social Media/Social Business BSC
• What is the overall social media/social business 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
Social Media/Business Strategy Map
Key Questions to Address
• What is the overall social media/social business vision for your organisation?
• What are the key objectives and targets to be achieved from social media/social business? Are these fully aligned with and supportive of your overall business goals and objectives?
• Who are your customers? Where do you find them ‘hanging out’ on social media? How can you best engage with them?
• What are the main Social Media/Social Business Actions and Initiatives you need to take – short, medium and longer term?
• What generic social media/social business strategy should you follow (number of channels used/ depth of engagement in each channel)?
Key Questions to Address
• For each priority Social Media/Social Business Channel, what are your core objectives for that channel; what KPIs will be used for measuring on-going channel performance; what are your targets for each KPI; what key tasks are needed to achieve these targets?
• Do we have the right organisational ‘culture’ and ‘mindset’ for Social Media/Social Business? ‘Be social before doing social! Is the right organisational and decision-making structure in place?
• Has agreement been reached on resource allocation?• Who will be responsible for your social media/social business
activities? What balance has been agreed between internal and external roles and responsibilities?
Key Questions to Address
• Who is the Social Media/Social Business Champion?• Do you have agreed Social Media/Social Business Policies
and Guidelines in place covering ‘Proper Use’, ‘Content Management’, ‘Customer Response Times/Quality’ and ‘Legal’ aspects?
• Performance evaluation and business impact
‘Be Customer Led’
Be Customer Led
• Who are our customers, community, tribe?
• Where do they hang out in social media?
• How can we best use Social Media/Social Business to deliver an exceptional customer experience at all stages of the customer life cycle?
Implementation and Performance Measurement
• Channel Action Plans• Performance Measurement• Organisation, Resource, People
Channel Action Plans
• Once your Social Media/Social Business Strategy has been agreed, brief Action Plans should be developed for each priority SM channel
• Cascade the Balanced Scorecard approach to each priority channel e.g. Twitter, Blog, Facebook, Linkedin, Internal Community etc
• But not ‘Paralysis by Analysis’
• The Action Plan for each channel should include a clear statement of…..
Channel Action Plans
• Vision• Channel Objectives• KPIs and Targets• Customers• Key Channel Actions and Initiatives for ‘getting there• Organisation, resource and people • Tools and applications• Performance measurement• Do’s and Don’t’s
Performance Measurement
Should be undertaken at four main levels:
1. Individual social media channels
2. Overall ‘buzz’
3. Internal Social
4. Business Impact
Using the 6Is approach
Performance Measurement Tools
A range of tools are available at each level:
• Individual Channels – e.g. Facebook Insights; Twitter Analytics; Blog Stats; LinkedIn Analytics etc
• Overall ‘Buzz’ e.g. Topsy; Social Mention; Klout; Kred; Social Report; Radian 6 etc
• Business Impact e.g. Google (Social) Analytics; SCRM
Organization, Resource and People Issues
• Organization, resource and people issues sit at the bottom of your SM/SB Balanced Scorecard NOT because they are the least important issues to address. In fact, the exact opposite is true. The success of your Social Media/Social Business Strategy is very much dependent upon appropriate decisions being made in the areas listed:
Organization, Resource and People Issues
• Do we have the right organisational ‘culture’ and ‘mindset’ for Social Media/Social Business? ‘Be social before doing social!’ Is the right organisational and decision-making structure in place?
• Has agreement been reached on resource allocation?
• Who will be responsible for your social media/social business activities?
• Do you have agreed Social Media/Social Business Policies and Guidelines in place covering ‘Proper Use’, ‘Content Management’, ‘Customer Response Times/Quality’ and ‘Legal’ aspects?
Social Media Channel Management Tools
Social Media Management Tools
‘Not as time consuming as you think’
Social Media Management Tools
• Feedly and Pocket - for Social Media Listening
• Buffer - for scheduling posts
• Hootsuite – for managing channels
• Wordpress – for blogging
• Mention - for brand sentiment analysis• Social Report - for social media performance
measurement
• Yammer - for internal social business
Feedly
Buffer
Hootsuite
Wordpress
Wordpress
Wordpress Stats
Mention
Mention
Social Report
Social Report
Yammer
‘Social Media Planning Pays’
Strategy Drives Tactics: Never the Other Way Round
Let's Discuss
What road are we on?
The End of Business as Usual
‘Winners’ will be those organisations who fully utilise the interactive power of social
technologies for engaging with and energising customer, employee and partner relationships
Appendix to the Class
Social media and career development:build your own personal brand online
SM for Career Development
Effective use of Social Media is becoming ‘mission critical’ to your career development:
Employers are increasingly using SM in recruitment Brand differentiation – innovative use of SM will help you
stand out from the crowd A new approach to recruitment/career development
based on relationships and networking Improves the effectiveness and efficiency of your efforts
through ‘attraction based’ marketing v. the traditional approach to applying for jobs
Traditional Approach
• Develop a resume/CV and covering letter• Search/find vacancies• Submit CV/covering letter for available job or ‘on spec’• Wait for the phone call/email that never comes because the job market is becoming increasingly competitive
Same as above but go through an agency/online job site
Insanity Defined
Social Media for Recruitmenthttp://mashable.com/2011/08/28/social-media-recruiting-infographic
A New Approach Built Around Your Online Brand Identity/Digital Footprint
Suggested Approach
Use Social Media to:
• Search/listen/keep an ear to the ground• Build your personal brand, differentiate, stand out from the crowd
• Identify, join, lurk, participate in relevant forums, groups
• Actively engage/network – build relationships
• Leverage ‘attraction’ based marketing
• Monitor performance and ‘buzz’
Build your Personal Brand, Differentiate, Stand Out
from the Crowd
Main Channels
• Personal blog for ‘telling your story’• Twitter for conversations• Linkedin for professional networking• Facebook for personal stuff (but be careful, very
careful)• Google + - the ‘new kid on the block’• Develop a Youtube Channel including your own
video e.g. presentations• Your resume/CV as an Infographic
Infographic
Infographic
Actively Engage/Network/Build Relationships
Follow Best Practice
• Add value• Don’t SHOUT• Talk WITH rather than AT• Listen first• Don’t be a show off• Don’t get angry or respond in an aggressive way• Be careful of your ‘digital footprint’• Don’t spam or over post• Don’t underestimate the power of the network• Hang out in the right places with the right people
Be Social
‘Be Social Before Doing Social’
SM Skills a Must for MBAs