Social Media Book launch event ''Business Strategy and Social Media: Strenthening the Ties'' on 17th Sept 2013
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The document discusses the integration of social media with business goals, focusing on the new expectations of consumers labeled as 'social customers' who seek better online interactions and feedback mechanisms. It outlines a framework for developing a social media strategy that aligns with business objectives, emphasizing the importance of maturity assessment and C-level management buy-in. Practical examples illustrate how different sectors can leverage social media for revenue generation and innovation improvements.
Social Media Book launch event ''Business Strategy and Social Media: Strenthening the Ties'' on 17th Sept 2013
- 1. Confidential. Do not copy or re-distribute ©LPC Linking social media to business goals Kamales Lardi, Lardi & Partner Consulting GmbH September 2012
- 2. Confidential. Do not copy or re-distribute ©LPC Social Media has created a new kind of customer Trusts in advice from network Buys more online Proactively provides feedback Expects better customer experience Reviews & ranks Seeks to connect with peers The ‘Social Customer’ Communicates online
- 3. Confidential. Do not copy or re-distribute ©LPC Social Media does this sound familiar to you? Company X Social Media Lead Social media accounts set up Decent # of followers / likes Content calendar for next 6 months Metrics measured: Engagement, likes, retweets, views …. Now what?? Business value? Potential vs. risks? RoI? Next steps?
- 4. Confidential. Do not copy or re-distribute ©LPC Social Media to create sustainable value for your business Social Media Initiatives Business Goals
- 5. Confidential. Do not copy or re-distribute ©LPC Social Media Strategy Framework 5
- 6. Confidential. Do not copy or re-distribute ©LPC • Identify business goals / challenges • Determine vision for social media • Explore social media direct or indirect impact • Define key strategic metrics • Consider internal organisational elements
- 7. Confidential. Do not copy or re-distribute ©LPC Social Media linking social media to business goals Business Goals Business Drivers Social Media Opportunity Opportunity Type Social Media Tactics Example 1 - Private bank Generate increased revenue for wealth management business Increase inbound leads by 10% for customer segment 35 – 50 years Create presence on social media focused on providing investment advice and online portfolio risk profiling Business 2.0 Defined in Phase 2 Example 2 – Technology developer Improve efficiency of product innovation cycle Reduce cycle time from idea generation to prototype by 20% Create employee crowdsourcing platform to assess, feeback & rank new product ideas Enterprise Collaboration Defined in Phase 2
- 8. Confidential. Do not copy or re-distribute ©LPC Social Media how ready is your company? Stages of Maturity ValueCreation • Aware of Social Media but not used for business • No or only information monitoring • Aware of Social Media & impact on business • Monitor relevant online conversations & analyze for key messages • Able to participate in customer online conversations • Identified key Social Media channels to communicate brand message • Brand message tells company story • Structure to respond to customers set up • Embedded in existing customer service channels • Employees actively involved or encouraged • Actively participating in Social Media • Contribute value through content • Social Media channels contribute to strategic objectives Maturity Assessment Tool: http://www.lardipartner.com/smma/ Source: LPC point of view, 2012
- 9. Confidential. Do not copy or re-distribute ©LPC Source: LPC point of view, 2012 Social Media C-Level management buy-in • Speak the C-level language • Use data to convince • Highlight outcomes achieved • Educate • Create an urgency
- 10. Confidential. Do not copy or re-distribute ©LPC • Determine the focus area(s) • Identify target audience • Define use cases • Plan content and channels (or tools) • Employee training & education
- 11. Confidential. Do not copy or re-distribute ©LPC Thank you @KamLardi ch.linkedin.com/in/kamaleslardi slideshare.net/kamalesn xing.com/profiles/Kamales_Lardi lardistrategy.com
- 12. Confidential. Do not copy or re-distribute ©LPC Source: LPC point of view, 2012 Book Video http://youtu.be/AXj7Hv2w62Q
- 13. Confidential. Do not copy or re-distribute ©LPC