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Solve A Problem To Achieve Social Media Marketing Success

This is part 3 in a 6-part series detailing a simple process for developing a successful Social Media Marketing program based on the acronym L-I-S-T-E-N.
Part 1: L is for Listen & Learn
Part 2: I is for Interpret & Identify
What was the last ad…

Social Media for CEOs: It’s NOT about the ROI

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social-networkIf you’re a marketing executive or agency trying to move your company or client into social media, there is a very good chance you have heard this question:

“What’s the ROI?”

In my opinion, the more important and relevant question is, “What is the cost of doing nothing?

That was my message to the John Carroll University Entrepreneurs Association (JCUEA) last week when I presented, “Social Media for CEOs.”

The Approach

After completing an advance survey of the members to determine the presentation’s content and style, we took a three-phased approach to educating and convincing the audience the value of investing time and resources in social media:

  1. What is Social Media?
  2. Why Does it Matter to Your Business?
  3. What Can You Do to Get Started?

What is Social Media?

  • Consumer-generated content. We are all the media, the publishers.
  • People trusting the opinions of their peers and collaborating online to help and support each other.
  • Consumers choosing when and where to interact with brands, and tuning out traditional, outbound marketing.
  • Social media is about listening, learning, building relationships and bringing value to the communities relevant to your organization.
  • Social media is a lifetime commitment to connecting with your audiences (e.g. customers, prospects, peers, partners) in a more authentic and personal way.
  • There are three phases: Monitor, Participate & Publish.

Social Media by The Numbers

  • 15.2 billion core searches conducted in January 2010 (comScore, Inc.)
  • U.S Internet users watched 32.4 billion videos in January 2010 (comScore, Inc.)
  • More than 133,000,000 blogs have been indexed by Technorati since 2002
  • More than 1 billion “tweets” estimated per month (Royal Pingdom)
  • LinkedIn has more than 60 million members in 200+ countries and territories around the world (LinkedIn.com)
  • More than 5 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.) shared each week on Facebook. And here are a few more stats from Facebook.com:
    • More than 60 million status updates daily
    • More than 1.5 million local businesses have active Pages
    • More than 20 million people become fans of Pages each day
    • Average user spends more than 55 minutes per day on Facebook
    • More than 100 million active users access Facebook through their mobile devices

Why Does it Matter to Your Business?

Starting with The Facts:

  • Social media should be an essential component of every organization’s integrated marketing strategy.
  • It is irrelevant if you personally use or believe in the value. It’s what matters to your current and future customers, prospects, employees and partners.
  • Social media presents an opportunity for company leaders to build strong personal brands that directly impact the organization’s brand and success.

Social Media Goals & Benefits

  • Generate leads & build loyalty. I argue that these should be the fundamental goals of EVERY marketing dollar and activity. See the Inbound Marketing GamePlan for more on leads and loyalty.
  • Create connections and build relationships.
  • Manage your brand online.
  • Establish professionals as experts, thought leaders and innovators.
  • Grow smarter and faster than your competitors.
  • Strengthen employee recruitment and retention.
  • Reach and engage audiences, specifically younger demographics.

So What’s the ROI?

  • More important question: What is the cost of doing nothing?
  • It is NOT a direct ROI.
  • But it is measurable.
    • Inbound links
    • Website visitors
    • Pageviews
    • Referring sites
    • Keyword rankings
    • Reach (followers, friends, fans)
    • Leads
    • Speaking opportunities
    • Engagement

What Can You Do to Get Started?Get-Started-Button

The key is to remember that a social media strategy on its own is useless. It must be part of an integrated marketing campaign that includes: brand marketing, Website, search marketing, content marketing and PR, as well as traditional strategies, such as sponsorships, and possibly advertising.

We presented an 8-step approach in the Inbound Marketing GamePlan, which outlines how and when to integrate social media:

  • Step 1: Clearly define and differentiate your brand.
  • Step 2: Design and deploy a content-driven Website.
  • Step 3: Go beyond prospects, and consider the impact of your marketing efforts on all audiences.
  • Step 4: Establish measurable and meaningful campaign objectives designed to achieve the primary goals of leads and loyalty.
  • Step 5: Build an integrated campaign: brand, Website, search, social media, content and PR.
  • Step 6: Establish dynamic budgets that can be easily shifted based on campaign performance and analytics.
  • Step 7: Define campaign timelines with milestones, tasks and responsibilities.
  • Step 8: Measure everything, and be willing to adapt and evolve.

THINK Content & Community

Social media boils down to doing three things very well: Monitoring, Participating and Publishing. Here’s the basics of getting started:

  • MONITOR: Conduct social media searches of blogs, forums and social networks relevant to your company and expertise. Subscribe to RSS feeds & Google Alerts.
  • PARTICIPATE: Become a part of the community.
    • Secure and build profiles on key social networks
    • Integrate social media activity into customer service, marketing and HR programs
  • PUBLISH: Create a content marketing strategy and start publishing great multi-media content that’s highly relevant to your audiences.

Things to Consider

  • Personal vs. professional participation
  • HR issues
  • Corporate social media policy
  • Strength of your Website and brand
  • Measurement
  • Integration with your overall marketing strategy
  • Time commitment
  • Internal capabilities and capacity
  • Regulatory issues

Your Thoughts?

What challenges have you run into integrating social media into your company or client? How have you overcome the obstacles, and turned them into opportunities?

Related Posts

 

Social Media for CEOs

View more presentations from Paul Roetzer.

 

Paul Roetzer is founder and president of PR 20/20, a Cleveland-based inbound marketing agency and PR firm. He can be found on Twitter @PaulRoetzer

 Subscribe to receive the PR 20/20 blog by email or RSS feed.

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Top 5 Inbound Marketing Stories of the Week: Social Media Strategy

StrategyDoes your company have a social media marketing strategy?  If you're inclined to answer "yes" because you have a Twitter handle and a Facebook page, you may want to re-think your answer.

Our top article on InboundMarketing.com this week urges you to take a step back, do your homework and form an actual strategy for social media marketing.  What are your objectives?  What are the opportunities?  What are your competitors doing?  After all, there's more to social media marketing than tweeting and Facebooking…

1.Developing a Social Media Marketing Strategy

Author: Bernie Borges of Optimize This

Bernie's main message is that, for a business, a social media strategy serves one simple purpose: "enabling your company to engage in authentic conversations with your community so you can improve your ability to attract, retain and serve your customers."  Still, he encourages readers to stop to do some research first — inside the company and out — to gain valuable insight that will drive their strategies.

Among Bernie's recommendations are to listen first and define your objectives, whether they be geared toward competitive differentiation, market share growth or the expansion of your brand.  His final words of wisdom are to "let your content go,” sharing it with and promoting it to your community.

Lesson: Think before you do.

2. Stop Building Microsites?

Author: Todd Defren of PR Squared

Wondering if creating a microsite might be a good idea for that new campaign you're promoting?  Exploring the topic of campaign microsites, Todd questions their worth and whether they generate any real traction.

While he doubts the majority of microsites has an ROI worth your time/investment, he does however share his thoughts on when one might make sense - when your company is part of a highly regulated industry that needs to be cautious with content, disclosures and consumer engagement.

Lesson: Look at how others are using social media, but evaluate what works best in your particular industry and for your own company before trying the same things.

3. Twitter Lists: Journalism Becomes a Real-Time Job

Author: Pete Cashmore of Mashable on CNN.com

Lately, I've been noticing that content overload on the Web is becoming quite a popular topic.  To this point, Pete's article discusses Twitter’s new list function and its ability to filter and organize clutter.  

Is Twitter hinting at a cure for information overload, Pete wonders?  He discusses the possible opportunity for a new job position based on content organization – the real-time Web curator.  Should journalists assume this new role and capitalize on this trend?  In any event, Pete's sure a "curation" economy is starting to take shape.

Lesson: Create Twitter lists using your company Twitter account to organize leaders/content in your industry.

4. How to Write a Blog Post That’s Stickier than Velcro

Author: Marelisa Fábrega on ProBlogger

"Sticky" ideas are those that are spread, remembered, and that people act upon.  Marisela's guest post explains the six common traits of sticky ideas, a concept originated by the bestseller, "Made to Stick: Why Some Ideas Survive and Others Die.”

  1. Keep your message simple
  2. Use an unexpected approach to capture readers’ attention
  3. Describe your idea in a concrete, tangible way 
  4. Illustrate that your message is credible by quoting statistics, studies, etc.
  5. Appeal to and evoke readers’ emotions
  6. Tell a story 

Lesson: Attract readers to your business blog by creating content with “sticky” properties.

5. 25 Must Read Social Media Marketing Tips

Author: Lee Odden of Online Marketing Blog

Want to learn the best social media marketing advice from expert in-house marketers?  Read Lee's post, which includes tips on social media strategy (oh how we've come full circle!), how to decide on tactics, and measuring success.

One thing’s for sure – the benefit of social media involvement is hard to ignore.

Lesson: Find inspiration to get started in the social media-sphere from experienced marketers.

Photo by Anil Jadhav

Video: How to Use Social Media for Lead Generation

Learn how to use social media for lead generation.

Download the free video to leverage Twitter, Facebook and other social media sites to generate leads and customers.

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