implementing a social media strategy

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

• Introduction to Social Media• Implementation Process ?• Measuring ROI• Common Problems Faced• What Others Are Doing

Agenda

Introduction to Social Media

Old Model

1 to Many

New Model

The Multiplier

• 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

• 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

• 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

Implementation Process

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

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?

ContentCreator

ImagesMicroBlog

Webpage

Bookmark

BlogRSS

Platform

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

Measuring ROI

• 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

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

Common Problems Faced

• 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

What Others are Doing - Skittles

What Others are Doing – Vodka Absolut

Interest

Promote

Engage

Involve/Interact

Staff Blogs

What Others are Doing – Accenture

Podcasts

What Others are Doing – IBM

Limited Community

What Others are Doing - Dell

What Others are Doing – Starbucks

What Others are Doing – Nike

Connections

What Others are Doing – Burger King

Controversy

What Others are Doing – Red Bull

What Others are Doing – AT & T (?)

Will the real AT&T stand up

What Others are Doing – Bank of America

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