Implementing a Social Media Strategy
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How to implement a social media strategy and measure ROI
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Implementing a Social Media Strategy
- 1. Cost Effective Social Media Marketing Strategies to Maximize ROI Hsien- Tong Hsien-Hui VP, Marketing and New Media 8th April 2009 @ Marketing Institute of Singapore © Copyright 2009 Tong Hsien-Hui
- 2. Agenda • Introduction to Social Media • Implementation Process ? • Measuring ROI • Common Problems Faced • What Others Are Doing © Copyright 2009 Tong Hsien-Hui
- 3. Introduction to Social Media Old Model New Model 1 to Many The Multiplier © Copyright 2009 Tong Hsien-Hui
- 4. Introduction to Social Media • Social Media is about interactions • Social Media is not just technology • Social Media is about each • Social Media is not a short term individual project • Social Media provides a canvas for • Social Media is not something you your creativity give an intern to do • Social Media provides an outlet • Social Media is not a channel to for you to show the world what blast your packaged ads you can do • Social Media will not work without • Social Media is about EGO YOUR participation © Copyright 2009 Tong Hsien-Hui
- 5. Introduction to Social Media • What companies tend to use it for – Market Research – Public Relations/Marketing/Online Voice – Branding – Product Development – Customer Service – Promotions – Presence © Copyright 2009 Tong Hsien-Hui
- 6. Introduction to Social Media Chart Source: Forrester Research Dec 2008 © Copyright 2009 Tong Hsien-Hui
- 7. Introduction to Social Media Chart Source: Forrester Research Dec 2008 © Copyright 2009 Tong Hsien-Hui
- 8. Introduction to Social Media Chart Source: Frederic Cavazza © Copyright 2009 Tong Hsien-Hui
- 9. Implementation Process © Copyright 2009 Tong Hsien-Hui
- 10. Implementation Process? • No One-Size-Fits-All Strategy One-Size-Fits- • A poor plan implemented well is often better than a good plan implemented poorly • This is a long term business initiative © Copyright 2009 Tong Hsien-Hui
- 11. Implementation Process? S – Stakeholders, Who are they? W - Where are they? Objective(s) O - Objective(s) P - Planning - Community, Conversation, Context, Content E - Execute - Monitor M © Copyright 2009 Tong Hsien-Hui
- 12. Implementation Process Images Micro Webpage Blog Content Creator RSS Blog Platform Video Bookmark © Copyright 2009 Tong Hsien-Hui
- 13. Implementation Process Success Factors • Know your company • Know your online community • Interesting content – Innovative (Controversy is a subset) – Funny – ‘Cool’ Cool’ • Informative and accurate content • Frequent updates/changes/ replies • Honesty and Acknowledgement • Give “strokes” judiciously but frequently strokes” • Be consistent © Copyright 2009 Tong Hsien-Hui
- 14. Measuring ROI © Copyright 2009 Tong Hsien-Hui
- 15. Measuring ROI • Qualitative – Corporate Reputation – Conversations – Customer Relationships • Quantitative – Related Sales – Traffic – SEO Ranking – Benchmark vs Competitors and Partners © Copyright 2009 Tong Hsien-Hui
- 16. Measuring ROI Social Media can be Quantified – Number of positive conversations – Number of new qualified subscribers – New sales – New qualified leads – Number of new product changes suggested through this channel © Copyright 2009 Tong Hsien-Hui
- 17. Common Problems Faced © Copyright 2009 Tong Hsien-Hui
- 18. Common Problems Faced • Internal – Corporate Structure/Responsibilities – Response time – Loss of traditional one way communication channel – de- Change from centralized control to de-centralized control – Consistent pricing and message is needed • External – Target audience may not be online – Unless they are engaged, community often dies from lack of interaction – People engage with people, not with companies – Everyone sees you….investors, competitors, customers, you… busybodies… busybodies….. – A few people can dominate the conversation….and influence conversation… the tide of opinion © Copyright 2009 Tong Hsien-Hui
- 19. What Others are Doing - Skittles © Copyright 2009 Tong Hsien-Hui
- 20. What Others are Doing - Skittles © Copyright 2009 Tong Hsien-Hui
- 21. What Others are Doing - Skittles © Copyright 2009 Tong Hsien-Hui
- 22. What Others are Doing - Skittles © Copyright 2009 Tong Hsien-Hui
- 23. What Others are Doing - Skittles © Copyright 2009 Tong Hsien-Hui
- 24. What Others are Doing – Vodka Absolut Interest © Copyright 2009 Tong Hsien-Hui
- 25. What Others are Doing – Vodka Absolut Promote © Copyright 2009 Tong Hsien-Hui
- 26. What Others are Doing – Vodka Absolut Engage © Copyright 2009 Tong Hsien-Hui
- 27. What Others are Doing – Vodka Absolut Involve/Interact © Copyright 2009 Tong Hsien-Hui
- 28. What Others are Doing – Accenture Podcasts Staff Blogs © Copyright 2009 Tong Hsien-Hui
- 29. What Others are Doing – IBM Limited Community © Copyright 2009 Tong Hsien-Hui
- 30. What Others are Doing - Dell © Copyright 2009 Tong Hsien-Hui
- 31. What Others are Doing – Starbucks © Copyright 2009 Tong Hsien-Hui
- 32. What Others are Doing – Nike © Copyright 2009 Tong Hsien-Hui
- 33. What Others are Doing – Nike Connections © Copyright 2009 Tong Hsien-Hui
- 34. What Others are Doing – Burger King Controversy © Copyright 2009 Tong Hsien-Hui
- 35. What Others are Doing – Red Bull © Copyright 2009 Tong Hsien-Hui
- 36. What Others are Doing – Red Bull © Copyright 2009 Tong Hsien-Hui
- 37. What Others are Doing – AT & T (?) Will the real AT&T stand up © Copyright 2009 Tong Hsien-Hui
- 38. What Others are Doing – Bank of America © Copyright 2009 Tong Hsien-Hui