implementing a social media strategy
DESCRIPTION
How to implement a social media strategy and measure ROITRANSCRIPT
© Copyright 2009 Tong Hsien-Hui
Tong Tong Tong Tong HsienHsienHsienHsien----HuiHuiHuiHui
VP, Marketing and New MediaVP, Marketing and New MediaVP, Marketing and New MediaVP, Marketing and New Media
8th April 2009 @ Marketing Institute of Singapore
Cost Effective Social Media
Marketing Strategies to
Maximize ROI
© Copyright 2009 Tong Hsien-Hui
• Introduction to Social Media• Implementation Process ?• Measuring ROI• Common Problems Faced• What Others Are Doing
Agenda
© Copyright 2009 Tong Hsien-Hui
Introduction to Social Media
Old Model
1 to Many
New Model
The Multiplier
© Copyright 2009 Tong Hsien-Hui
• Social Media is about interactionsSocial Media is about interactionsSocial Media is about interactionsSocial Media is about interactions• Social Media is about each Social Media is about each Social Media is about each Social Media is about each
individualindividualindividualindividual• Social Media provides a canvas for Social Media provides a canvas for Social Media provides a canvas for Social Media provides a canvas for
your creativityyour creativityyour creativityyour creativity• Social Media provides an outlet Social Media provides an outlet Social Media provides an outlet Social Media provides an outlet
for you to show the world what for you to show the world what for you to show the world what for you to show the world what you can doyou can doyou can doyou can do
• Social Media is about EGOSocial Media is about EGOSocial Media is about EGOSocial Media is about EGO
Introduction to Social Media
• Social Media is not just technologySocial Media is not just technologySocial Media is not just technologySocial Media is not just technology• Social Media is not a short term Social Media is not a short term Social Media is not a short term Social Media is not a short term
projectprojectprojectproject• Social Media is not something you Social Media is not something you Social Media is not something you Social Media is not something you
give an intern to dogive an intern to dogive an intern to dogive an intern to do• Social Media is not a channel to Social Media is not a channel to Social Media is not a channel to Social Media is not a channel to
blast your packaged adsblast your packaged adsblast your packaged adsblast your packaged ads• Social Media will not work without Social Media will not work without Social Media will not work without Social Media will not work without
YOUR participationYOUR participationYOUR participationYOUR participation
© Copyright 2009 Tong Hsien-Hui
• What companies tend to use it forWhat companies tend to use it forWhat companies tend to use it forWhat companies tend to use it for– Market ResearchMarket ResearchMarket ResearchMarket Research– Public Relations/Marketing/Online VoicePublic Relations/Marketing/Online VoicePublic Relations/Marketing/Online VoicePublic Relations/Marketing/Online Voice– BrandingBrandingBrandingBranding– Product DevelopmentProduct DevelopmentProduct DevelopmentProduct Development– Customer ServiceCustomer ServiceCustomer ServiceCustomer Service– PromotionsPromotionsPromotionsPromotions– PresencePresencePresencePresence
Introduction to Social Media
© Copyright 2009 Tong Hsien-Hui Chart Source: Forrester Research Dec 2008
Introduction to Social Media
© Copyright 2009 Tong Hsien-Hui Chart Source: Forrester Research Dec 2008
Introduction to Social Media
© Copyright 2009 Tong Hsien-Hui Chart Source: Frederic Cavazza
Introduction to Social Media
© Copyright 2009 Tong Hsien-Hui
Implementation Process
© Copyright 2009 Tong Hsien-Hui
Implementation Process?
• No OneNo OneNo OneNo One----SizeSizeSizeSize----FitsFitsFitsFits----All StrategyAll StrategyAll StrategyAll Strategy• A poor plan implemented well is often A poor plan implemented well is often A poor plan implemented well is often A poor plan implemented well is often better than a good plan implemented better than a good plan implemented better than a good plan implemented better than a good plan implemented poorlypoorlypoorlypoorly
• This is a long term business initiativeThis is a long term business initiativeThis is a long term business initiativeThis is a long term business initiative
© Copyright 2009 Tong Hsien-Hui
S S S S –––– Stakeholders, Who are they?Stakeholders, Who are they?Stakeholders, Who are they?Stakeholders, Who are they?WWWW ---- Where are they? Where are they? Where are they? Where are they? O O O O ---- Objective(sObjective(sObjective(sObjective(s))))PPPP ---- PlanningPlanningPlanningPlanning
---- Community, Conversation, Context, ContentCommunity, Conversation, Context, ContentCommunity, Conversation, Context, ContentCommunity, Conversation, Context, Content
EEEE ---- ExecuteExecuteExecuteExecuteMMMM ---- MonitorMonitorMonitorMonitor
Implementation Process?
© Copyright 2009 Tong Hsien-Hui
Implementation Process
ContentCreator
ImagesMicroBlog
Webpage
Bookmark
BlogRSS
Video
Platform
© Copyright 2009 Tong Hsien-Hui
Success FactorsSuccess FactorsSuccess FactorsSuccess Factors• Know your companyKnow your companyKnow your companyKnow your company• Know your online communityKnow your online communityKnow your online communityKnow your online community• Interesting contentInteresting contentInteresting contentInteresting content
– Innovative (Controversy is a subset)Innovative (Controversy is a subset)Innovative (Controversy is a subset)Innovative (Controversy is a subset)– FunnyFunnyFunnyFunny– ‘‘‘‘CoolCoolCoolCool’’’’
• Informative and accurate contentInformative and accurate contentInformative and accurate contentInformative and accurate content• Frequent updates/changes/ repliesFrequent updates/changes/ repliesFrequent updates/changes/ repliesFrequent updates/changes/ replies• Honesty and Acknowledgement Honesty and Acknowledgement Honesty and Acknowledgement Honesty and Acknowledgement • Give Give Give Give ““““strokesstrokesstrokesstrokes”””” judiciously but frequentlyjudiciously but frequentlyjudiciously but frequentlyjudiciously but frequently• Be consistent Be consistent Be consistent Be consistent
Implementation Process
© Copyright 2009 Tong Hsien-Hui
Measuring ROI
© Copyright 2009 Tong Hsien-Hui
• QualitativeQualitativeQualitativeQualitative– Corporate ReputationCorporate ReputationCorporate ReputationCorporate Reputation– ConversationsConversationsConversationsConversations– Customer RelationshipsCustomer RelationshipsCustomer RelationshipsCustomer Relationships
• QuantitativeQuantitativeQuantitativeQuantitative– Related SalesRelated SalesRelated SalesRelated Sales– TrafficTrafficTrafficTraffic– SEO RankingSEO RankingSEO RankingSEO Ranking– Benchmark Benchmark Benchmark Benchmark vsvsvsvs Competitors and PartnersCompetitors and PartnersCompetitors and PartnersCompetitors and Partners
Measuring ROI
© Copyright 2009 Tong Hsien-Hui
Social Media can be QuantifiedSocial Media can be QuantifiedSocial Media can be QuantifiedSocial Media can be Quantified– Number of positive conversationsNumber of positive conversationsNumber of positive conversationsNumber of positive conversations– Number of new qualified subscribersNumber of new qualified subscribersNumber of new qualified subscribersNumber of new qualified subscribers– New salesNew salesNew salesNew sales– New qualified leadsNew qualified leadsNew qualified leadsNew qualified leads– Number of new product changes suggested Number of new product changes suggested Number of new product changes suggested Number of new product changes suggested through this channelthrough this channelthrough this channelthrough this channel
Measuring ROI
© Copyright 2009 Tong Hsien-Hui
Common Problems Faced
© Copyright 2009 Tong Hsien-Hui
• InternalInternalInternalInternal– Corporate Structure/ResponsibilitiesCorporate Structure/ResponsibilitiesCorporate Structure/ResponsibilitiesCorporate Structure/Responsibilities– Response timeResponse timeResponse timeResponse time– Loss of traditional one way communication channelLoss of traditional one way communication channelLoss of traditional one way communication channelLoss of traditional one way communication channel– Change from centralized control to deChange from centralized control to deChange from centralized control to deChange from centralized control to de----centralized controlcentralized controlcentralized controlcentralized control– Consistent pricing and message is neededConsistent pricing and message is neededConsistent pricing and message is neededConsistent pricing and message is needed
• ExternalExternalExternalExternal– Target audience may not be onlineTarget audience may not be onlineTarget audience may not be onlineTarget audience may not be online– Unless they are engaged, community often dies from lack of Unless they are engaged, community often dies from lack of Unless they are engaged, community often dies from lack of Unless they are engaged, community often dies from lack of
interactioninteractioninteractioninteraction– People engage with people, not with companiesPeople engage with people, not with companiesPeople engage with people, not with companiesPeople engage with people, not with companies– Everyone sees youEveryone sees youEveryone sees youEveryone sees you………….investors, competitors, customers, .investors, competitors, customers, .investors, competitors, customers, .investors, competitors, customers,
busybodiesbusybodiesbusybodiesbusybodies…………........– A few people can dominate the conversationA few people can dominate the conversationA few people can dominate the conversationA few people can dominate the conversation………….and influence .and influence .and influence .and influence
the tide of opinionthe tide of opinionthe tide of opinionthe tide of opinion
Common Problems Faced
© Copyright 2009 Tong Hsien-Hui
What Others are Doing - Skittles
© Copyright 2009 Tong Hsien-Hui
What Others are Doing - Skittles
© Copyright 2009 Tong Hsien-Hui
What Others are Doing - Skittles
© Copyright 2009 Tong Hsien-Hui
What Others are Doing - Skittles
© Copyright 2009 Tong Hsien-Hui
What Others are Doing - Skittles
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Vodka Absolut
Interest
© Copyright 2009 Tong Hsien-Hui
Promote
What Others are Doing – Vodka Absolut
© Copyright 2009 Tong Hsien-Hui
Engage
What Others are Doing – Vodka Absolut
© Copyright 2009 Tong Hsien-Hui
Involve/Interact
What Others are Doing – Vodka Absolut
© Copyright 2009 Tong Hsien-Hui
Staff Blogs
What Others are Doing – Accenture
Podcasts
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – IBM
Limited Community
© Copyright 2009 Tong Hsien-Hui
What Others are Doing - Dell
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Starbucks
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Nike
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Nike
Connections
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Burger King
Controversy
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Red Bull
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Red Bull
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – AT & T (?)
Will the real AT&T stand up
© Copyright 2009 Tong Hsien-Hui
What Others are Doing – Bank of America