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Social Media Strategy Framework in 11 languages
"Given the extreme popularity of our Social Media Strategy Framework, we decided to translate it into other languages. The translations have been serialized on my blog over the last couple of weeks, and here they are compiled into a single post."
On Social CRM Options
"The discussion around Social CRM is entering a phase whereby we are trying to move away from turning around in circles about semantics, towards a more practical and pragmatic approach that businesses can identify with so as to consider implementing it. I won’t deal with CRM Vendors here, as Social CRM can be seen as an extension to CRM. As a primer on SCRM I suggest you look at Bill Band’s article on Customer Think. The main idea that we all do agree upon is that we need to become customer-centric in order to respond to their changing needs and expectations, and this may have some major ramifications on the way we organise our businesses."
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We have settled on the idea that we cannot manage what is being said about us (as long there is any Buzz we should be happy, right?). What we do need to do is understand what is being said and for which reasons
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Community and conversation is all - if the consumers trust the community, they will extend the trust to the brand
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The Social CRM Virtuous Cycle
In this installment of our Social CRM Blog Series, we’ll be turning from “Why” you should be looking at Social CRM to “How” you should think about it for your own organization. For that purpose, Helpstream developed a concept to help visualize this process—we call the Social CRM Virtuous Cycle:
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Listening is an essential skill for every business function, and Social CRM gives you an unprecedented opportunity to hear what’s being said—both within your own customer community and throughout the broader Web through social monitoring tools
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Getting the word out is always high on the marketing agenda—Social CRM is a helpful vehicle for doing this. Word-of-mouth begins with your customers. It is important to make sure your marketing is delivering the right words to the right mouths;
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Understanding Users of Social Networks
If the ongoing social networking revolution has you scratching your head and asking, "Why do people spend time on this?" and "How can my company benefit from the social network revolution?" you've got a lot in common with Harvard Business School professor Mikolaj Jan Piskorski
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"Online social networks are most useful when they address real failures in the operation of offline networks," says Piskorski.
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Corporate marketers by and large struggle with how to use social networking sites to reach potential customers, says Piskorski, who advises companies on this subject. The problem is that execs think of online social networks as social media and treat it as another channel to get people to click through to a site.
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How Web 2.0 usage is changing over time
Across all categories, the use of Web 2.0 technologies by employees for internal purposes has increased from 53% in 2007 to 65% of respondents in 2009. The largest components of growth have come from using Web 2.0 to develop new products / services internally, to manage internal knowledge and to reinforce the company culture via tools such as internal social networking applications. The companies who have embedded these tools in their day-to-day activities and processes have seen the largest impact by improving communication across silos to reduce duplicate work and leverage experts in other areas.
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In contrast, over the past 3 years, the adoption of Web 2.0 technologies for connecting with business partners and suppliers has stagnated at 40%.
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The momentum we see in the growth of Web 2.0 technologies implies we will see higher penetration in 2010 for using these technologies for employees to collaborate and to facilitate interactions with customers.
How companies are benefiting from Web 2.0
The heaviest users of Web 2.0 applications are also enjoying benefits such as increased knowledge sharing and more effective marketing. These benefits often have a measurable effect on the business.
Launch of Social Media Strategy Framework
Today we launch our Social Media Strategy Framework. This provides guidance and a frame on how organizations can approach engaging with social media, following in the tradition of our highly popular frameworks such as Web 2.0 Framework, Future of the Media Lifecycle, and Influence Landscape.
Managing beyond Web 2.0
What does this development mean for your company? In effect, that its marketers are being replaced. As markets morph into Web 2.0 “conversations” and consumers gain much greater freedom to pursue their own interests, customers are doing things that online marketing managers don’t necessarily want—or expect—them to do.
A Year @Ford - Part 1
Ultimately, Ford's social media strategy looked something like this:
Humanizing the company by connecting Ford employees with our stakeholders, allowing them to connect with each other when appropriate, and providing value in the process.
How Cisco uses Social Media
Gibson opened her talk with a statement that captures the essence of social media at Cisco.
“In a world where everything is open, we value openness and transparency.”
There are three ways that Cisco uses social media especially blogs to drive customer engagement:
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While Cisco is very focused on ROI, there are no standard metrics, so it uses a variety of metrics. For example: they look at the free media impressions from social media activities and measure how much does that would have cost them to assess cost savings. However, since social media is resource and management-intensive, the cost for it is still fuzzy.
What Is Execution 2.0?
All of these engagements enabled me to learn the different nuances of each market and the current status of the markets use of social technology. In each case the fundamentals of engaging and listening to the market of conversations remained the same. The engagements were centric to helping the organization build an effective strategy and related tactics. In each case the one critical element that would determine the success of the proposed plan was the effective execution of the plan.
Will Management Buy Into The Plan?
In management, the ultimate measure of performance is the metric of management effectiveness which includes execution, or how well management’s plans are carried out by members of the organization. Execution is not a singular or silo process rather it encompasses the following attributes:
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Consider the brands who have tried to execute initiatives using social technology. The old 80/20 rule applies. 80% or more fail while 20% succeed. Why? Because 80% consider a Strategic 2.0 plan as a marketing initiative rather than a plan to transform the entire company into a “connected” organization 2.0 which leverages a Strategic 2.0 plan. Execution 2.0 requires a total organizational transformation.
Twitter: A Marketer's Duct Tape
Third, and perhaps most importantly, it is very easy for people to join, and to self-organize around topics, companies, individuals, and events. In this sense it is an incredibly "democratic" medium — with all the control at the ends of the network. Our Diamond Fellow David Reed wrote in the Harvard Business Review many years ago about the power of self-forming networks, so potent because of their innate flexibility.
Social Media ROI - a financially sound method
Contribution Margin in currency generated from externally referred customers
over cost in currency for human interaction and other cost to manage and engage in the ecosystem
= Social Media ROI.
Marketing Software the Social Media Way
# Strategic Message Focus. Here conversation messages deal with strategic business issues. Examples of tactics include executive focused blogs, and establishment of networks or forums on topics such as succession planning, “baby boomer” brain drain, outsourcing, competition, innovation, and sustainability. If the software company’s own products are used in support of these efforts, so much the better
# Business Message Focus. Here the conversation message deals with functional or departmental problems that are internally or externally focused. When tied to specific business problems or processes, the focus of conversations will frequently be related to revenue enhancement, efficiency, speed, agility, and cost. Industry and process credibility will be necessary for the software company that takes this route; conversation participants need to know that you know what you’re talking about.
# I.T. Message Focus. This was discussed earlier in the context of media that allow conversations to take place between software developers and technical software users. Perhaps the most significant aspect of this particular use of social software to support software marketing is the democratizing impact that modern communications have on software development and support.
Scrum in marketing: making enterprises adaptive
Nowadays to be successful, a company has to be fast to adapt. Driven by business priorities, managers use progressive methods of product development aimed to cure the mistakes of traditional approaches. Some of these methods acquired the name of agile project management. These methods originated in R&D departments and now are introduced in marketing as well.
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