social media marketing lecture 1 social media marketing strategy dr. constantinos k. coursaris -...
TRANSCRIPT
Social Media Marketing
Lecture 1
Social Media Marketing Strategy
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
The bottom line:
You Can’t Manage,
What You Can’t Measure
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
MYTH
“I don’t like numbers(math / quantitative analysis / ….),
so I can’t track.”
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
RealiTY
• The challenge is not measurability
• It is 3-fold:
• Know which measures are available
• Know which measures are meaningful in your context
• Keep the monitoring plan simple
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
SOCIAL MEDIA - What’s it ALL worth?
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
SOCIAL MEDIA - What’s it worth?
=$14
=$5
$5=
$2=
Source: February 2011 (name removed to protect corporate identity)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Let’s test thAT ‘theory’ …
• … with Michigan State University’s official accounts:
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Let’s test the ‘theory’ …
• Michigan State University’s official accounts contain:
• Facebook Fans: 170,675 * $5/fan = $0.85 M
• Twitter Followers: 7,664 * $2/ea. = $0.015M
• Total: SM responsible for $0.865 M
• MSU’s annual tuition revenue = $716.5 M
• SM fiscal contribution = 1 / 1000 not worth it, right? ;-)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
SOCIAL MEDIA - What’s it ALL worth?
=$14
=$5
$5=
$2=
Tip #1:Don’t get hung up w/ such social media valuations
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
SOCIAL MEDIA - What’s it ALL worth?
=$14
=$5
$5=
$2=
~2.5x
Tip #2:Passive affiliation < $ (worth less) Active engagement
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
SOCIAL MEDIA - What’s it ALL worth?
Tip #3:It’s all about context
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
SOCIAL MEDIA - What’s more important than $?
• Ascending level of engagement & potential impact on objectives:
• Like / Follow
• Comment / Mention
• Respond to Questions / Reply
• Share / Retweet
• Attend Event
Tip #4:
Engagement is more important, because it often precedes sales
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
ENGAGEMENT SALES & RECOMMENDATIONs
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
ENGAGEMENT SALES & RECOMMENDATIONs
Fans Spend 2x
&
Source: June 2010
Engagement – what’s IT ABOUT?!
• ISN’T just about getting attention
• IS brand & category specific
• IS driving customer loyalty
• IS tied with the propensity to recommend earned media value
• IS the outcome of a MarCom that boosts brand equity
Tip#5
Choices regarding a brand’s media mix engagement behavioral outcomes (hopefully in line with objectives)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Engagement – what’s IT ABOUT?!
• Brand Equity: The audience’s ‘total perception’ of how close a brnad comes to fulfilling a need/desire/expectation to the ideal
• Brand equity drives loyalty (i.e. actual future purchase behavior, not simply stated intent)
Tip #6:
Engagement Equity Loyalty
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Engagement – what’s IT ABOUT?!
The 70 : 30 rule
•70% of the brand consideration adoption loyalty process due to emotional factors
• Remaining 30% due to rational, minimum entry req’ts
Tip #7:
Give them what they want!
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Let’s see if that ‘theory’ is ‘on target’…
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
TARGET’s … TARGET? Women 25-54TARGET’s LOYALTY DRIVErS (BeneFITS)?• Has an online store
• Has a store credit card
• Main-in rebate options
• Clearance & rollbacks
• Frequent sales & promotions
• Accepts all credit cards
• Is conveniently located
• Gives you real value for your $
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Source: Brand Keys
What’s their social media presence about?
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Let’s test that theory … closer to home
ENGAGEMENT METRICS
TARGET
•5,780,002 Fans 100% Total market: 312,500,000
•76,936 talking about this (7day) 1.31% Effective reach: 1.85%
•Mobile catalog: 1,188 (901 likes + 159 comments + 128 shares)
•Store card: 1,496 (1,255 likes + 148 comments + 93 shares)
•Starbucks promo:2,760 (1,163 likes + 1,578 comments + 19 shares)
•Savings BOGO: 3,265 (2,389 likes + 325 comments + 551 shares)
•Community builder: 6,359 (1,290 likes + 5,026 comments + 43 shares)
•Gift Card giveaway: 16,188 (14,860 likes + 1,061 comments + 267 shares)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
ENGAGEMENT METRICS
MICHIGAN STATE UNIVERSITY
•170,683 Fans 100% Total market: 500,000+
•2,242 talking about this (7 days) 1.31% Effective reach: 34.1%-
•Mobile catalog: 51 (45 likes + 4 comments + 2 shares)
•Store card: 62 (52 likes + 10 comments + 0 shares)
•Community 2 - photo: 115 (92 likes + 23 comments + 0 shares)
•Community 1–Wharton: 119 (36 likes + 83 comments + 0 shares)
•Community builder: 214 (179 likes + 35 comments + 0 shares)
•Carrier Classic: 282 (183 likes + 28 comments + 71 shares)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Engagement of Fortune 100 brandsLIKES TALKING
ENGAGED
• #1 Walmart10,181,995 582,236 5.7%
• #38 Microsoft 955,765 24,080 2.5%
• #11 HP 793,710 15,995 2.0%
• #8 GM 299,896 4,724 1.6%
• #70 Coca-Cola 35,732,685 362,802 1.0%
• #2 Exxon Mobil 664 69 1.0%
• #12 AT&T 1,742,856 10,457 0.6%
• #91 AMEX 2,283,287 13,515 0.6%
Tip #8: 1% engagement is a good benchmark
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Let’s test that ‘theory’ … with something cool!
Fans: 10,061,354Talking: 88,378Engaged: 0.88%
Engagement of Fortune 100 brandsLIKES TALKING ENGAGED
$R / FAN $P / FAN
• #1 Walmart 10,181,995 582,236 5.7% $41,430 $1,610
• #38 Microsoft 955,765 24,080 2.5% $65,375 $19,628
• #11 HP 793,710 15,995 2.0% $158,790 $11,038
• #8 GM 299,896 4,724 1.6% $452,130 $20,580
• #70 Coca-Cola 35,732,685 362,802 1.0% $983 $330
• #2 Exxon Mobil 664 69 1.0% $534M $46M
• #12 AT&T 1,742,856 10,457 0.6% $71,508 $11,397
• #91 AMEX 2,283,287 13,515 0.6% $13,245 $1,777
Tip #9: Value of social media leads is contextual (your category)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Engagement trends & BENCHMARKS
• 0-5% of fans is talking about the brand; mostly 1%
• # of Post Likes > # of Comments > # of Shares
• Content categories are associated with different engagement types & levels
Tip #8: 1% engagement is a good benchmark
Tip #9: Value of social media leads is contextual (your category)
Tip #10: Content analyze comments for sentiment & +insight
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Sentiment analysis
Just a handful of tools to get started:
•SocialMention.com
•Hashtags.com
•TwapperKeeper.com
•Summarizr (via TwapperKeeper)
•Facebook Page Insights
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
SocialMention.com
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
TwitterSentiment.appspot.com
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Hashtags.org
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
TwapperKeeper.com
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
TwapperKeeper.com
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Summarizr (via TwapperKeeper)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Summarizr (via TwapperKeeper)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Social media landscape
• Community• Facebook
• Immediate / easy communication – public or private• Twitter
• Documentation• Blogs / Wikis
• Imagery• Flickr, Picasa
• Rich media (video) experience• YouTube
• Networking• LinkedIn
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Social media CASE STUDY:HER MAJESTY queen rania al abdullah
• Multiple social media used
• Consistent messaging
• Regular updates
• Value-adding content
• Personal brand & online reputation management
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Queen rania by the numbers
•802,883 Likes 14,607 Talking 1.8% Engaged
•1,739,018 Followers (129 Following) 16,358 Listed 9.4% Engaged
YouTube
•Channel Views 1,644,07 Upload (total video) Views 6,238,866
Multiple: 19.9%
•Channel Views 1,644,07 Subscribers 32,652
Engagement: 5.2%
ACTIVITY #1• Identify 3 direct competitors & 3 indirect competitors
• Visit their respective Facebook Page, Twitter, & YouYube presence & record:
• Brand (FB): Likes – Talking – Calc. %EngagedBy Post: Stories – Calc. %Engaged
• Brand (TWI): Followers ------ Following – Calc. TFF Ratio –Listed – Calc. % Engaged
• Brand (YouTube) : Channel Views – Upload Views – Calc. Multiple % -Subscribers – Calc. %
Engaged
• Now, do the same for your brand! How do you compare?
Dr. Constantinos K. Coursaris
Planning for & using Social Media
If you build it …
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
… they MAY comeWhat Social Media Can’t Do
• If you build it (Facebook Group & Page, Twitter account, YouTube channel, Flickr album…), they won’t come – immediately.
• So, how do you get them to:
• Come
• Stay
• Participate
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
COME – RaISe AWARENESS
• Cross-reference all social media with traditional media
• Insert links to Facebook, etc. in e-mails, on website
• Ask network to spread the word
• Group request via Wall & Updates
• Individual mentions with similar requests
• Entice individuals to come (offer unique content/value)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Participation Factors
• Information
• Currency
• Frequency
• Value-added
• Engagement
• Mentions
• Replies
• Interaction
• Polls
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Participate
• Share stories of relevance
• Engage members
• Appreciate their participation
• Ask questions
• Show human elements
• Use images & videos
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Social Media Strategy
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
What You need to do
• Objective: Get them to Come
• Goal: Raise awareness (e.g. increase Likes by 10% in 1 month)
• Objective: Get them to Stay
• Goal: Add value (e.g. produce 2 new FB Wall posts/wk)
• Objective: Get them to Participate
• Goal: Engage (e.g. 1 Question/wk; 1 Poll/mth; 1 mention/wk; 1 RT/day)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Social Media Strategy
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Develop a Content Strategy
• Why do people return to a website?
• Content (is king)
• Quality content Read Saved Tagged Shared
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Mobile + Social Media Richness
• “Mobile phones will increasingly become the glue that holds the social graph together, offering creative tools and immediacy, presence, location, and context when interacting with the real world” (Husson et al., 2009)
• “Richer, more personal communication is typically more effective than leaner, less rich media" (Newberry, 2001)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Media Richness
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Facebook & Info’n Richness
• 'Wall’: a vehicle for unaddressed, public messages
• Text and/or Video
• Low information richness
• ‘Mentions’: addressed, public
• ‘Messages’: addressed & private, between 2+ users
• Greater information richness
• ‘Chat’: synchronous yet text-based
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Twitter & Info’n Richness
• Tweets: Public, unaddressed ‘leaner’
• Private, addressed Direct Messages ‘richer’
• Linking photos & links to websites accessible on mobiles even ‘richer’
• Twitter message length is 140 characters
• ‘Leaner’ than SMS (160 characters)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Content Placement Strategy
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Develop your Content Strategy
• FB Updates
• FB Messages
• FB Chat
• TWI Public tweets
• TWI Public Mentions
• TWI Direct Messages
• Upload YouT Videos
• Upload Flickr Photos
• SMS Broadcast
• SMS Key Recipients
FREQUENCYMEDIUM / VEHICLE
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Develop Content Strategy
• Content
• Define Categories of Value-Adding Content
• Messaging
• Produce content appropriate for each medium
• Recommendations in the How-To Session
• Placement
• Select the days/times/frequency/reach patterns of placing content
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
aCTIVITY 2:Benchmark against the competitionFor your competing brands, review their accounts and identify:
•What is their content placement (messaging frequency) like on:
• YouTube
• Can you sustain a similar messaging plan?
•In any given week, which categories generate the most engagement?
• Can you produce similar, as well as differentiated content?
Social Media Strategy
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Engage & Facilitate Conversation
• Biggest SM mistakes:
• Create & abandon
• Broadcast only
• SM = 2-way conversations active participants
Engaged customers Greater LTV
• Customer acquisition & retention strategy
• Web users expect a company/organization/government to be on SM & to be able to engage Still, most organizations do not engage audience
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Engage & Facilitate Conversation
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Measure Results
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Measure Results• Again: If you can’t measure it, you can’t manage it
• Measure based on Objectives• Objectives should have measurable goals
• Evaluate data & conclude
• Return on Engagement• How many clicked a blog post link?
• How many RTs?
• How many comments/likes/shares of blog posts?
• How many followers do those who RT you have?
• Track Growth of SoV – Compare posts/tweets/img’s
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Set Goals & Benchmarks
• Team Consensus
• Measurable & Time specified
• Contingency Planning
• Sample SM Business Goals
• Raise awareness (e.g. by 10% in 1 month)
• Add value (e.g. produce 2 new FB Wall posts/wk)
• Engage (e.g. 1 Question/wk; 1 Poll/mth; 1 mention/wk; 1 RT/day)
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
But which metrics do we use?• What others are saying
• 19 Thought Leaders
• 175 CMOs
• Personal perspective
• How-To
Facebook metrics
• Engagement (x14)
• Interactions (8); Comments (3); Likes (1); Interaction to Action (1); Share (1)
• Friends/Fans
• Sales
• # of Likes from off-Facebook sites
• R.O. Fan Investment
• N/A (x2)
Facebook Metrics - Insights
• Impressions
• Insights Interactions Post Views
• % Feedback = (Comments + Likes)/Impressions
• Subscribes vs. Unsubscribes
• Likes vs. Unlikes
• Insights Users New Likes vs. Unlikes
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Page insights
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Key takeaway:
What content led to the rise in Likes (or unlikes)?
Twitter metrics
• Reach
• Interaction
• Mentions
• # of CTs into Conversions (not just CTs)
• Customer Service / @Replies to Customers
• Sales
• New rel'ps converted into business rel'ps
• R.O. Customer Service Investment
TWITTER METRICS DASHBOARD STARTING POINT
Twitter metrics leveraged
Create actionable plan for your set objectives:
1.Use Twitter more consistently than before; how much?
• How frequently did I tweet during the past 4 weeks?
• What can I set my frequency to over the next 4 weeks?
2.Produce content that is more focused; what kind?
• What content did I tweet about last week?
• What content should I focus on next week?
Linked in metrics
• Connections (x3)
• Group members (x2)
• Incoming business leads (x3)
• Views (x2)
• Don't track/Can't measure (x2)
• N/A (x2)
• Recommendations• Sales• Success of Helping Others Execute• Interactions (Answers)• Invites to Connect• ROTimeInvestment• Viable job applicants
LiNKED IN METRICS DASHBOARD STARTING POINT
Blogging metrics
• Comments (x6)
• RTs
• RSS/Email Subscribers (x3)
• Traffic (x2)
• Repeat visitors
• # of Pages viewed/visited
• Links from Influencers
• SEO Placement
• Sales• MKTG funnel value• Quantifiable rel'ps to bottom line• R.O. Brand Investment
E-mail marketing metrics
•CTs (x7)•Open rate (x2)•# of Subscribers (x2)•Action•Requests for more info•Sales•R.O. Acquisition•N/A (x3)
100+ social media metrics
Social media metrics – cmo survey
$
Engage’t
100+ social media metrics
$
Engage’t
100+ social media metrics
$
Engage’t
100+ social media metrics
$
Engage’t
100+ social media metrics
Is Engagement more important than $?
Engagement Sales
KSF: Track ENGAGEMENT TO PREDICT Impact
Social Media Strategy
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Conclusion
• Markets are conversations
• Speak, Listen, Learn & Respond/Act
• Most people visit a website to learn more SM objective (often): drive traffic to website
• How do you integrate your digital marketing communications?
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
Linking SM & Web
Linking SM & Web
Linking SM & Web
Linking SM & Web
Linking SM & Web
Linking SM & Web
FINAL THOUGHT
Engage with your customerswhere they are … AND will be!
Social Media HIGHER Customer LTV
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
CONNECT WITH ME!
• LinkedIn: Coursaris
• Twitter: @DrCoursaris
• Facebook: Dr.C.Coursaris
• Email: [email protected]
• Skype: CCoursaris
• Web: Coursaris.com
Dr. Constantinos K. Coursaris - @DrCoursaris - [email protected] - Coursaris.com
• Dr. Constantinos K. Coursaris
• 424 Communication Arts and Sciences
• Michigan State University
• East Lansing, Michigan, U.S.A.
• 48823