Social Media Marketing Company » B2B Marketing

Social Media for the Enterprise; a Value Chain Odyssey

ytzika — Mon, 23 May 2011 16:58:32 +0000

By Ytzik Aranov, Managing Partner, Social2B

For those of you who’ve been through business school lectures on Michael Porter’s Value Chain Analysis this doesn’t come as news to you. But when asked to implement social media practices, policies, platforms, tools, etc., in today’s corporation or enterprise, we throw out all of what we learned that makes the enterprise tick and elect to “surf” it through!

Attention – and I quote:

“Social Media (in the Enterprise) is a Business Process, not a channel, department, or vertical silo”.

End quote.

You heard it here! Think about it. Social media touches upon every department, every business process, every channel, every prospect / customer interaction, every investor, every supplier, in short, it touches the entire organization.

In today’s marketplace, social media and an enterprise’s’ online brand architecture and social media footprint is arguably, the most important business process affecting the entire Enterprise Value Chain. Poor implementation of a solid online & social media platform strategy & tactics directly impacts a company’s ability to market, sell and extend its brand reach, globally. Failure to effectively implement an integrated social media strategy & tactics across the entire Value Chain could potentially lead to lower revenues (read, shareholder value), slippage in market share, increased financial exposure, risk, and more

One of the most effective measurement techniques to measure enterprise social media effectiveness, both pre- and post-implementation, is to diagnose the “Social Media Maturity Index” (see graphic), which establishes a recognizable industry-specific metric with which to assess the social media value, influence, depth, and footprint of an enterprise’s value chain components – combining both departments and business processes. Moreover, the social media maturity Index in its very essence is a barometer of how the value chain is capable of moving at the speed of (digital & social) business today.

So, when looking for added revenue stream, cost savings, internal value, constraints, and external interfaces with the world, then social media maturity acutely identifies the lack of, or plethora, of business excellence in sync with today’s pace of commerce.

OK, skeptics, How do we drill down into the Enterprise Value Chain and establish Social Value Chain Maturity & Scalability? Let’s break it apart into pieces. Look at the following chart that defines touch points throughout selected departments throughout the enterprise, and their social media impacts.

The same goes for every other vertical silo, and, every business processes. Each and every business process running across – horizontally – the enterprise has multiple social media touch points.

Social media maturity, coupled with an integrated online, SEO, SEM and Social Community Marketing strategy replaces one-way communication with dialogue. Participation by customers, suppliers, employees, the industry, the market, etc., and feedback from them all (!), must be listened to because it has the power to make or break your enterprise or enterprise function. Social media tools allow us to observe the conversations, measure, monitor, track and quantify the online & social media reach and influence. It allows us to assess and re-assess the correct strategy & tactics from the bottom up to increase revenues, open new markets, capture greater market share, lower costs and in general, improve the bottom-line ROI.

So, what about ROI?

If done right — and you’ll have to come back for a later post on this subject — the Social Media Maturity Index is then mapped by those of you honored to be the “Keeper of the Social Keys” in the enterprise, to any existing enterprise Balanced Scorecard KPIs (Key Performance Indicators) in use by the Executive suite (read CFO), in order to assess true ROI, Economic Value & shareholder value. And, by the way, to justify shifting dollars from traditional advertising / marketing into your online / social media marketing budget.

In Summary:

The value in executing a Social Media Maturity Index exercise, as the very first step prior to embarking on that “Journey to the Edge of the Social World”, includes, but by no means is limited to:

Creating a more aligned and more cohesive internal organization (whether vertical silo or horizontal business process) involved with social media and its offshoots;
Developing a cross-enterprise social media policy – let me guess, you’re thinking about it, while hundreds of employees across the value chain are uncontrollably blogging & Tweeting about the company without any filters – to manage the social media impact;
Channeling the endless volume of Content across the enterprise that is not “curated”, re-purposed or managed effectively throughout the enterprise, thereby losing SEO and ranking power;
Implementing a solid, instantaneous, Reputation Management process – what’s that? – more on that in another post …;
Hiring – training – more targeted and experienced human resources to effectively channel the enterprise’s social media assets and better utilization of current ones;
Mapping out a better-defined path to enterprise success by assessing the maturity of the organization and its readiness to embrace a new channel (SM) affecting the entire value chain – from customer service to distributor relations to marketing;
Establishing a quantifiable and actionable ROI – well, we know what that means (Return-On-Ignoring, Return-on-I (me!), etc. – in short, how we justify the extra capital needed to implement targeted social media campaigns to accelerate products or services sales.

The Social Media Maturity Index provides an immediate snapshot of where every Value Chain component of the organization is today is with respect to social media & market acceleration and what can be expected in terms of performance based on the overall social media maturity of the enterprise. It also maps out where each Value Chain component is lacking and what can be done to accelerate it and better sync it to the other Value Chain components thereby creating a powerhouse enterprise that socially rocks!

Top 11 Predictions for Social Media Marketing in 2011

social2b — Mon, 10 Jan 2011 18:37:55 +0000

By Marina Shapiro

‘Out with the old, and in with the new.’ The industry of Social Media Marketing is maturing and we are predicting a new dawn for the Social Media revolution. So, what will it mean to be ‘social’ in 2011? What aspects of Social Media will be integral to the way businesses develop and grow? How will this impact the technology? Who will ‘win’ at Social Media this year? We’ve compiled top 11 predictions for the world of ‘social’ in 2011.

1. “…next year is really going to be about paring down to the essentials based on proven successes and strong metrics.” http://mashable.com/2010/12/21/small-business-predictions/ 2. “Outsourcing social media such as blogs, writing e-mails, answering customer service inquiries, writing web copy, social media, ghostwritten blogs, tweets. People don’t always have the availability to write, tweet, research and post their own content.” http://www.businessnewsdaily.com/2011-big-ideas-for-small-businesses-0835/ 3. “All signs are pointing toward a multicultural Web. By 2015, a billion people in BRIC countries [Brazil, Russia, India and China] will be using PCs. Thus, 2011 will mark the year that businesses either adapt to these changes or get left woefully behind.” http://www.businessnewsdaily.com/2011-big-ideas-for-small-businesses-0835/ 4. “If you don’t have a mobile version of your site today, you are already behind.” http://www.clickz.com/clickz/column/1934793/21-social-media-predictions-trends-2011 5. “B2B companies will catch up to B2C companies in using social media.” http://www.clickz.com/clickz/column/1934793/21-social-media-predictions-trends-2011 6. “The Rise of the Marketing Technologist – Marketers for the last few years have been closet techno geeks and it’s time for them to rise up – companies need digitally fluent marketers who can apply technologies to help make marketing more measurable and scientific. Then we can really change the dynamic from marketing as a cost center to marketing as a profit center!” http://socialmediatoday.com/pauldunay/250079/11-b2b-marketing-predictions-2011 7. “Marketing and sales alignment continues to be the #1 issue impeding marketing’s ability to be perceived as a major driver of B2B business value.” http://www.b2bmarketinginsider.com/strategy/b2b-marketing-predictions-for-2011 8. “Consumers’ increasing concerns over noise and privacy will decrease the relatively open access marketers have enjoyed in social channels. The easiest tactics will be the least effective, forcing marketers to bring the same kind of creativity, audience differentiation, and strategy that they bring in other channels. www.forrester.com/rb/Research/2011_now_social_media_marketing_gets_tough/q/id/57771/t/2?cm_mmc=Forrester-_-Blogs-_-Related%20Research-_-5583 9. “Social media measurement will mature rapidly now that there is real money being spent by marketers in the social realm. http://marketingmeasurementtoday.blogspot.com/2011/01/predictions-for-social-media-metrics.html 10. “Commerce happens in communities of interest — not social networks. First, I’d like to distinguish between a social network and a community of interest, though the terms are often used interchangeably. Social networks or, more aptly, social networking is how we connect with people.” http://adage.com/digitalnext/post?article_id=147897 11. “In 2011, those brands that truly embrace “social content generation” will build themselves a kingdom. The connections between brand, art or skill and visual communications in a socially connected world can create powerfully authentic appeal for brands.” http://www.fastcompany.com/1712634/2011-back-to-the-future So there you have it- the 11 ‘social’ pointers set to make big news in 2011. All of which tell us that the future of Social Media is changing and evolving into a force that no business large or small can afford to ignore. The future is bright. The future is Social (albeit a new hybrid of ‘social’). Are you ready for it?

Seven Steps to Creating a B2B Community on Twitter (cont’d) – Greenlight360 Case Study

KentHuffman — Fri, 24 Jul 2009 12:17:51 +0000

By Kent Huffman.

July 24th, 2009

Kent Huffman is the CMO at BearCom Wireless. You can follow him on Twitter at www.Twitter.com/KentHuffman

The Company

Greenlight360 describes itself as an “Internet television network” that will produce and air original episodic Internet TV and films. The startup is based in Boston and intends to provide a platform for emerging talent to gain exposure and monetize their art while providing great original television programming to their viewing audiences.

You may want to think of Greenlight360 as the next HBO or Showtime . . . but online.

The Challenge

With most startups, one of the main obstacles to success is the lack of brand awareness. Greenlight360 was no different.

Since it was to be primarily an online operation, Greenlight360 executives needed to create a buzz on the Internet. And they wanted to do it quickly. So they decided to focus on several hot social media platforms, including Twitter.

The Solution

Marci Reynolds, COO and VP of Sales & Marketing at Greenlight360, developed a carefully planned strategy to build a quality following on Twitter. Her approach began with creating “buyer personas”—detailed profiles of the targeted users—in order to accurately define the types of followers that Greenlight360 wanted to attract. Keeping those personas in mind, Reynolds identified a number of tweeters (using various tools such as TweepSearch.com, Twellow.com, and HootSuite.com), followed them, and read their tweets for several days.

She then began tweeting about topics that would be of interest to those same people, including publishing a variety of content written specifically for them. In addition to quality, relevant tweets, Reynolds ensured the content was sent on a regular basis: approximately 5-7 tweets each day. She also sent tweets at times where they would receive the most exposure, such as the coveted lunchtime slot: 11:00 a.m.-1:00 p.m.

The Results

Within 60 days, Greenlight360 had developed a loyal following of almost 600 quality people on Twitter and experienced a lift in Web site traffic originating from the content of the tweets and the company’s Twitter profile.

“I am very excited about the success we’ve experienced using Twitter. Our follower base is very targeted and continues to grow every day. Our content is re-tweeted on a regular basis. And, this past Friday, we had our highest number of #FollowFriday recommendations — five different Twitter users recommended us to their audiences,” said Reynolds. “Twitter has been a very effective tool in launching our new brand name online!”

“We have also learned a lot about our targeted audience through reading their tweets and understanding what content they find interesting and relevant,” Reynolds added. “We will continue to use Twitter as part of our pre-launch buzz strategy and to build momentum and television viewership post Web site launch.”

Kent Huffman, Advisory Associate at Social2B, said, “The process that Marci Reynolds developed and followed at Greenlight360 is identical to the process that I wrote about in my recent Social2B blog post. It’s straightforward and effective, and it can be applied to almost any situation on Twitter.”

Follow Marci Reynoldsand Greenlight360 on Twitter.

Follow Kent Huffman and Social2B on Twitter.

Seven Steps to Creating a B2B Community on Twitter

KentHuffman — Mon, 15 Jun 2009 11:25:46 +0000

By Kent Huffman.

June 15th, 2009

Kent Huffman is the CMO at BearCom Wireless. You can follow him on Twitter at www.Twitter.com/KentHuffman

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Twitter. It’s all the rage in the social media world these days. But how can you best leverage it for tangible business-to-business marketing purposes? One way is to build your own community within Twitter.

Several months ago, I became interested in Twitter when a colleague told me about his positive experiences with the popular social media tool and insisted that I check it out. After signing up for an account and reading a few tweets, I immediately saw its potential as a community development tool. Being a long-time B2B marketer, I decided to build a group of folks interested in marketing who could inspire and help each other grow professionally by sharing ideas and information. But I didn’t know exactly how to go about creating that community.

I ultimately decided to treat it as I would any other important marketing initiative—by first developing a well-defined strategy and a set of related tactics. Over the next couple of months, I created and then tweaked the strategy and honed the tactics through trial and error. I then boiled everything down to a seven-step process that I’m sharing with you here in hopes that you can use it to develop your own B2B community on Twitter.

Step One: Define Your Goals and Target Community

Before you launch your presence on Twitter, determine what specific goals and objectives you want to accomplish. Then parlay that into a methodical plan to build a community around that goal, including defining your target audience.

Step Two: Find and Follow Like-Minded Tweeters

Once you’ve set up a Twitter account, use www.Search.Twitter.com, www.Twellow.com, www.TweepSearch.com, www.TweetBeep.com, and similar tools to find other tweeters who share the same interests as you and would appear to make good members of your fledgling community. Then follow them.

Step Three: Read and Learn

For a week or two, read the tweets posted by those whom you are following and learn from them. Understand what their interests are and how they use Twitter to communicate with others. Note which tweets and tweeters are the most appealing to you and why.

Step Four: Create Effective, Compelling Tweets

When you’re ready to begin tweeting, first determine what topics you will write about. One of the most effective strategies is to position yourself as a subject matter expert in one or two areas. Make sure those topics directly relate to the community you’re trying to build. And take a thoughtful approach by writing clever, interesting tweets that are likely to be retweeted by others.

As is the case with pretty much everything on the Internet, content is king on Twitter. Build a strong foundation for your “Twitter brand” and give other tweeters a reason to follow you by adhering to these basic dos and don’ts when composing your tweets…

Do…

· Feature newsworthy items

· Divulge “inside information”

· Share original thoughts and ideas

· Participate in conversations

· Provide useful links

· Ask engaging questions

· Inject personality and humor

· Retweet when appropriate

Don’t…

· Discuss what you had for breakfast

· Tweet too frequently or infrequently

· Ignore questions or comments by other tweeters

· Try to promote your product or service in every tweet

Step Five: Develop Unique Content for Your Community

In addition to writing focused, compelling tweets, another important key to success in building a strong community on Twitter is to create special content that will be of interest to your followers. One of the most effective types of content enables the members of your community to easily find and interact with each other, such as lists of experts and leaders who tweet about subjects that directly pertain to your community. In my case, I developed a series of unique marketing-related lists:

· www.SystemicMarketing.com/top-cmos-on-twitter

· www.SystemicMarketing.com/top-marketing-book-authors-on-twitter

· www.SystemicMarketing.com/top-marketing-professors-on-twitter

Other types of content can be very effective as well, such as blog posts—where you can discuss specific subjects in more detail (such as the post you’re now reading)—and other online and offline resources related to your core topic(s).

By creating this content, you’re providing a forum for your community that enables its members to connect to others like them. As a result, you’ll develop a reputation as a knowledgeable facilitator who is more interested in giving than taking. That can be very powerful.

Step Six: Grow Relationships

As you expand your following on Twitter, you’ll naturally gravitate toward specific tweeters with whom you can most closely relate. Develop a closer relationship with them by publicly commenting on their tweets, retweeting them, and recommending them to your community, as well as privately engaging them in one-on-one conversations, both online and offline. Do whatever you can to help them without asking for anything in return.

Step Seven: Wash, Rinse, and Repeat

Once you’ve found your “Twitter rhythm,” continue to expand your community by growing your followers list, cleaning it up from time to time, and repeating steps two through six indefinitely. You’ll find that creating and participating in your community will be a very rewarding experience, not only for you, but everyone involved.

In the final analysis, building a B2B community on Twitter is about creating value in terms of content and relationships. Even more basic than that, it’s about giving, not taking. That’s really what will help keep your community healthy, active, and growing.

Read the Greenlight360 Case Study that describes how this process has been used to produce real, measurable results on Twitter.

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Kent Huffman is the CMO at BearCom Wireless. You can follow him on Twitter at www.Twitter.com/KentHuffman.