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Posts Tagged ‘innovation’

strategyAs American consumers spend more and more of their online time interacting on social websites, social media initiatives have become a high priority for businesses large and small.  Social media is a booming industry, but it’s also the new Wild West.  The landscape is constantly changing, the technology is continually evolving, and consumer behavior is an endlessly moving target.  Unfortunately for businesses, there isn’t a clear cut path to social media success.  Even more unfortunately, there’s no shortage of self-proclaimed experts claiming to know the way.

I’ve spent the better part of the last decade researching consumer uses of social technology, collaborating on the development of social software platforms, cultivating and managing a large online community, and developing social media strategies.  I’ll be the first to tell you that I’m not even close to having a silver bullet solution, and the more I learn about social media, the more I’m convinced such a thing does not yet exist.  As a community, social media “experts” are working diligently to define best practices, to cultivate effective techniques for engagement, to develop accurate metrics, and to discover comprehensive solutions that will deliver on the elusive promise of success.  It’s an on-going process, and anyone that tells you something different isn’t someone you should be listening to.

Among the social media “experts” that are worthy of the term (and there are many, to be sure), there is currently a good deal of concern about the meaning of social media “strategy.”  As Tom Webster recently pointed out, what usually passes as strategy is actually tactical advice: be human, be authentic, be helpful.  Great advice? Yes.  Strategy?  Not hardly.  In a tweet this morning, Scott Gould wondered “how many ppl talk about social media, and how many have an actual strategy…”?  I think this is one of the most pertinent questions we so-called “experts” should be asking ourselves, and each other.  Here’s a short version of my answer.  Consider it an introduction to what will become a series of posts dedicated to each of the major points.

A Strategic Guide to Social Media Engagement: 10 Steps to Success

1.  Define goals: Before you undertake any social media initiative, take a step back to consider the view from 50,000 feet.  Why social media?  What exactly are you trying to achieve?  What does this new fangled technology offer that traditional media channels don’t? Although many businesses and social media advocates tend to view social media primarily as a marketing tool, the benefits of social media engagement are in fact much more far reaching.  Social media can enhance your public image, augment community outreach, improve customer service and increase customer satisfaction, provide new sources of market intelligence and information about your competition, and help improve products, streamline processes, and boost organizational performance beyond the marketing silo.  Define the goals of your social media initiatives with these broader benefits in mind.

2.  Audit existing efforts: Budgetary constraints may require that social media engagement trade off with other expenditures, but wise investments need not be zero sum.  Social media initiatives should complement rather than supplant existing efforts, whether your goal is to improve marketing, customer service, product development, or organizational efficiency.   Before you implement a social media strategy, take stock of your existing efforts to figure out how to maximize your current resources and expenditures.  This audit will also help you establish baselines for performance against which to measure the results of your social media engagement, and to figure out how best to integrate those results to improve organizational performance.

3.  Establish baselines for performance: You can’t get where you want to go if you don’t know where you’re starting from.  Social media may offer any number of potential benefits, but they’re impossible to quantify if you don’t have a firm grasp on the successes and shortcomings of your current efforts.  Whether your goal is to convert leads into sales, increase customer satisfaction, or reduce product returns, establishing baselines for performance is the first step in demonstrating a quantifiable ROI for your social media initiatives.

4.  Identify your audience’s social profile: All social media is not created equal.  One of the first questions you should ask before undertaking any social media engagement is where in the world of social media is my audience? In other words, who are you trying to reach, and what social media sites, applications, and platforms are they using? Don’t waste your time and money chasing an audience that doesn’t exist.  And notice that I’m using the word “audience” here, rather than “customers.”  Social media allows you to engage customers, talent, industry experts, community leaders, and other individuals who can positively impact your business.  Don’t let the marketing aspects dominate your focus.

5.  Identify applicable social tools: Once you’ve figured out where your audience is you can determine the best social tools with which to engage them.  Should you be building Facebook Pages or Groups, Twittering, blogging, creating mobile apps, sponsoring contests, socializing on MySpace, engaging the LinkedIn community, or joining Orkut, Friendster, Bebo or any of the dozens of other social networks popular outside of the U.S.?  The options are staggering, and figuring out which ones work best will inevitably involve some trial and error, but you needn’t be shooting in the dark.  Thinking strategically about the ways you engage through social media will maximize your returns and minimize your expenditures.

6.  Develop an action plan for implementation: To achieve the full benefits of social media, you have to develop a plan for implementation.  This plan includes tactical considerations, such as the timing and targeting of initiatives, defining roles and responsibilities, training personnel, developing monitoring and accounting procedures, and most importantly, determining how to integrate the fruits of your labor into your organization.  As the goals of social media engagement differ, so will organizational responsibilities.  Within larger organizations, social media engagement will involve marketing departments, customer service teams, HR, product design and manufacturing, and product delivery systems, just to name a few.  Even if these departments aren’t directly involved in social media efforts, the information gleaned from these initiatives is only useful if it’s integrated into the appropriate operational context.

7.  Establish engagement metrics and deploy tracking tools: Measurement is the key to success in any corporate communication effort, and social media is no exception.  Developing accurate engagement metrics will allow you to discover which of your efforts are most effective and which are falling flat.  One of the primary advantages of social media engagement is that it offers opportunities for measurement that aren’t as easily accessed through traditional media channels.  Thanks to a variety of tracking software, the digital footprint of social media users is highly visible, and the mountains of data they churn up allow you to revise and retarget your efforts to maximize effectiveness.

8.  Develop social media content and engagement tactics: Social media isn’t just another channel through which to push a corporate message, and companies that treat it as such are going to be sorely disappointed.  The conversation about your brand and market is already happening, and if you jump into it without considering the value of your contribution, you’ll either be tuned out or you’ll take a beating.  Giving the people what they want means developing content that informs, entertains, and engages your audience.  And content is only the beginning.  To capture the value of social media, you have to be social.  That means listening, understanding, responding, and incorporating the conversational feedback into your products and processes.  This is where that tactical advice comes into play: be human, be authentic, be helpful.  Successful social media initiatives require a commitment to engagement over the long-term, and an effective strategy will include a sustainable plan for monitoring, responding, and reacting to conversational feedback.

9.  Incorporate feedback: This part of the equation is probably the most difficult for organizations to put into practice.  What you learn from social media engagement can help you improve your products and processes, discover hidden markets, and get a leg up on the competition, but only if you’re prepared to change the way you do business.  Being a good conversational partner requires a willingness to change your beliefs based upon your interactions with others.  The same is true for businesses engaging customers through social media.  Only those organizations that internalize feedback and adapt accordingly will reap the benefits of engagement.

10.  Measure ROI and revise engagement tactics: A common misconception about social media is the difficulty of measuring effectiveness.  If you’ve established pre-engagement baselines, identified appropriate metrics, and deployed tracking tools, accurate measurement is far from impossible.  Crunch the numbers to determine the real, bottom-line value of your social media investment, and revise your engagement tactics accordingly.

I’m sure there are things I’ve left off this list, and I know some of this requires elaboration.  As I said at the outset, this is my contribution to a much broader conversation, and a brief introduction to a more in-depth discussion of each point.  I hope you’ll share your thoughts, point out my glaring lapses, and point me in the direction of any resources you think might be useful.  And please pass this along to anyone you think may benefit from or contribute to the conversation.  Thanks!

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Steve Rubel, SVP and Director of Insights for Edelman Digital, and Angela LoSasso, US Social Media/Social Networking Manager at HP, discuss the future of the Social Web.  I took a couple of things in particular from this discussion.  Steve discusses an important distinction between the insider’s and outsider’s view of social media.  While technology insider’s readily adopt new social media tools, such as Twitter, the outsider’s uptake can be much slower.  Utility isn’t a given, and when one’s personal social circle is comprised primarily of other such outsider’s, new social media technologies aren’t likely to seem particularly important.  I think this is an important lesson for technology insider’s who are trying to coax reluctant businesses into the social media pool. 

Angela LoSasso offers yet another example of the importance of listening when it comes to social media participation by businesses.  While many businesses are chomping at the bit to turn social media tools into new marketing channels, some of the most important benefits are gained from just being there.  Monitoring social media conversations is a great way to gauge the pulse of consumers, to discover unmet needs, and to inform the product innovation process.

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