the what & the why: small business social web strategy
DESCRIPTION
The What & The Why: Small Business Social Web Strategy Adam Metz, presentationTRANSCRIPT
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The What & The WhySmall Business Social Web Strategy
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Before we try to make choices, let’s learn what
kinds of choices need to be made...
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The Scope
1. Consumer Social Web Tools
• What Are They?
• Who’s Doing This?
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The Scope2. Consumer-Facing Social Web Engagements
• What are the business objectives?
• How should we segment our customers’ behavior?
• What are differences between real small business (under $1M) and big brands?
• Where does email fit in?
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The Scope
3. Consumer Social Web Strategy
• How do we do it?
• How much is this gonna cost?
• How do we measure return-on-investment and other important metrics?
• How do we delegate the day-to-day?
• What are the next steps?
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Your Customers & Prospects
Active
Inactive
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Your Customers & Prospects (25-34)
Active
Inactive
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Your Customers & Prospects (18-24)
Active
Inactive
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3 Reasons Social Web Will Potentially Not Matter For Your Brand
• Most customers do not have Internet access (includes no mobile)
• Most customers/prospects over the age of 65
• Pre-literate customer base
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Part One
• Consumer social web tools
• What are they?
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What Are Consumer Social Web Tools?• These are the tools that your customers and prospects use on the social
Internet to create and share content
• We’re not talking about brands, we’re talking about types of technologies
• “Is it a social web tool?”
1. Can consumers talk to other consumers using it?
2. Can consumers submit original, uncensored content?
• This content can later generally be edited by consumers
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Facebook is not a social web tool. A social network
service is a social web tool.
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“I can edit this anytime”
“anyone can comment here”
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What Are Consumer Social Web Tools?Tool Consumer-Editable C2C Conversation?
Social Network Profile Page Yes Yes
Wiki Page Yes Yes
Blog Entry Yes Yes
Amazon Review Yes Yes
Review Site Review (e.g. Yelp, TripAdvisor) Yes Yes
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The Eight Buckets of Consumer Social Web Tools
Blogs PodcastsSocial
NetworkServices
Wikis MicroBlogsOnline Video
Discussion Forums
Online Reviews &
Ratings
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Why Aren’t Video Games Included Here? It’s a $9.5B Industry!
• Consumers rarely create this type of content
• Content shared by consumers within these games cannot typically be accessed by all game players
• “Is World Of Warcraft a social network service?”
• Yes, but it has limited functionality for your purposes, and engagements scale poorly.
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Part Two
• Consumer-facing social web engagements
• How should we examine our customers behavior?
• What is The Fork and why do we use behavioral targeting?
• What are the business objectives?
• What are differences between small business and big brands?
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What are the communications objectives in using social web strategies?
• Listening - “We’re figuring out what people are saying about us and our space.”
• Talking - “We’re talking with our customers and listening to them.”
• Energizing - “We’re working with our customer base to create an army of raving fans who will evangelize our brand.”
• Embracing - “We’re working with our customers to create new products and services by utilizing the social web.”
Entry-levelObjectives
Late-STAGEObjectives
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How Should We Examine Our Customers Behavior?
• There are two types of customers/prospects:
• Talkers: These are people who go online and say things. They’re the only people we’re concerned with in our social web strategy.
• Everybody else: Don’t worry about them. Some portion of them will eventually become Talkers. The rest will just read/listen to whatever the Talkers say, and make their own decisions.
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The Social Technographic Ladder
Inactives
None of the above
Spectators
Read blogsWatch video from other usersListen to podcastsRead online forums and customer ratings/reviews
JoinersMaintain profile on social networking websites and visit social networking sites
Collectors Use RSS FeedsAdd “tags” to websites or pages (folksonomies)“Vote” for websites online
Critics Post ratings/reviews of products/servicesComment on someone elseʼs blogContribute to online forumsContribute to/edit articles in a wiki
Source: Forrester Analytst Report, 02/08
CreatorsPublish a blogPublish their own web pagesUpload video they createdUpload audio/music they createdWrite articles or stories and post them1x monthly
You’re all a bunch of talkers!
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Why do we use behavioral targeting?
• We don’t know who the person REALLY is on the other end of the screen.
• People aren’t always who we say they are on the Internet.
• Online behaviors guide social web tool usage reliably, not age, gender or locality.
• It’s way more accurate than demographic targeting.
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The Fork
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The Fork
• The brand has an important choice
• I call it The Fork
• Goal: To create a behavioral target, in order to develop a strategy
• Challenge: Can’t choose a tool (or two) until you’ve chosen a strategy
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The ForkBrand may wish to choose:
A. Behaviorally target the current demographic set, at the “rungs” that they’re most comfortable with
OR
B. Engage new base of prospectives with behaviorally high social media aptitude/usage
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What are the communications objectives in using social web strategies?
• Listening - “We’re figuring out what people are saying about us and our space.”
• Talking - “We’re talking with our customers and listening to them.”
• Energizing - “We’re working with our customer base to create an army of raving fans who will evangelize our brand.”
• Embracing - “We’re working with our customers to create new products and services by utilizing the social web.”
Entry-levelObjectives
Late-STAGEObjectives
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What Are The Business Objectives?
• Listening: To find out what people are saying about the brand so that we can develop a solid strategy to increase brand awareness and sales and brand equity
• Talking: Increase brand awareness, brand equity and sales
• Energizing: Increase brand awareness, brand equity and sales
• Embracing: Create totally innovative, customer-centric products or services
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What Are Differences Between Small Businesses and Big Brands?
• Less total collateral out there in the market and less content to monitor
• Less total tools needed
• Less time needed to make big wins over your current situation
• Much easier to “know your market” and know your customers
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Social Email?
• Use email to draw older adults (45-75) into social media
• Include key social web property linkage on all corporate email
• Rebrand all company assets (letterhead, business cards) to reflect social web collateral that’s important
• If email can’t be easily forwarded, fix it
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Carrot & Stick
• Offer much deeper discounts on social web properties; motivates users with carrot, pushes with stick
• When someone unsubscribes, it may be because they’re a “friend”
• Read email analytics, all the time
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There’s a reason this slide is redDon’t do any of the following:
• Pay your customer evangelists after they’ve evangelized for you for free
• Use paid services to get people to write about your brand
• Use shills or buzz agents
• Market on your competitors sites unless you’d like them to return the favor
• Start a fight with a major content property (e.g. Yelp, Tripadvisor, etc.) unless you have an army of hundreds of customers who can back you up
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Part Three• Consumer Social Web Strategy
• How do we do it?
• How much is this gonna cost?
• How do we measure ROI/ROP?
• How do we delegate the day-to-day?
• What are the next steps?
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How Do We Do The Strategy?1. Spend a month or two listening
2. Bring in a pro to write the 90-day or 120-day strategy document based on the results of your “market surveillance”
• Use the behavioral targeting based on The Fork when choosing your tool
3. Execute against the document
4. Run monthly reports and a final report
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What’s the methodology, again?• POSTm Methodology
• People: We pick our stakeholder set first.
• Objectives: We then decide upon a communications and a business objective.
• Strategy: We write a strategic document, and execute against it, spelling out the exact gains we wish to achieve in terms of metrics.
• Tools: We pick our tools last, using behavioral targeting.
• Measure: We measure the key metrics, and iterate the plan based on our measurements.
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How Much Is This Going To Cost?
• Use the 90/10 rule
• 90% of your investment should be in people
• This will cost 10-15% of the marketing budget
• If you spend an annual total of $300 on reputation monitoring and blog software, spend $2700 on paying an intern to use this stuff
• If you up the tool spend, up the “people spend”
• If you’re spending over $500 on tools, something’s fishy
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What is ROP?• Return-on-participation
• It’s what we get for participating in the social web
• It’s the number of social web responses (reviews, comments, sales, etc.) you get in return for your efforts
• You should see this rate increase over time, and eventually level off
• A low engagement rate is 3x, and a high one is 15x
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How do we measure this stuff?
• Analytics solution: Google Analytics (free); can also be used for basic eCommerce.
• Buy one good book on Google Analytics: One-Hour-A-Day by Avinash Kaushik
• Reputation Monitoring Solution: Trackur ($18)
• Plain old counting (review sites): ($0)
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Can’t We Just Copy What Our Competitors are Using?
• No. They might be doing it all wrong
• They might not have listened
• They’re maybe not as ethical as you are
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How Do We Delegate The Day-to-Day?• After doing the listening yourself, get assistance writing the
plan.
• Explain plan carefully to the staff and interns
• Check for comprehension
• Explain metrics to staff and interns
• Possibly bonus the staff for certain levels of improvement
• Read monthly reports with intern
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What Are The Next Steps?
• Begin listening phase
• Get strategy written
• See how it impacted sales and the number of results that come up in Trackur
• Look at where the hits are coming from - are they coming from the right markets?
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Digging Deeper• My first strategy book, “There Is No Secret Sauce”
• www.adammetz.com
• Available for consulting
• Read my blog to get up to speed, and other recommended reading is for sale in my bookstore and on my blogroll
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The Book
10 Social Media Mistakes
I’ve Got The Budget, How Do I Spend It
http://tinyurl.com/metzbook
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Consulting
www.adammetz.com