Posts Tagged ‘product management’

I have More Twitter Followers Than You

February 11th, 2010

We recently got that feedback from a company that we were introduced to provide social marketing services and consulting. Struck a chord worthy of a blog post. It is a consistent theme as of late on what is the value of social media participation. How do you keep score? How do you measure ROI?

First, I will respond to the more “twitter followers” statement. SO WHAT? For all of those folks who are building massive follower lists on twitter without a relationship, are you really getting value out it in your business? Do you have a strategy to convert these “eyeballs” into business relationships and revenue or are you just collecting names to spam? Do you have a plan?

I think there is a middle ground. Despite working nationally and internationally now, I have been building a list of Atlanta based marketers because I couldn’t find one. I have published it and I am adding to it all of the time. It is my “give to get” to the community. Yes, I get followers from it and I get name recognition, but the real value to my business is that I am integrating that list into my offline branding. I am also giving back to the community.

I am interested in participating in the larger Atlanta marketing community because I live here and I want to be a part of it. I don’t get to many events due to family constraints; young kids and most meetings scheduled in the evenings or early morning right in the heart of family time. I do a fair bit of speaking so I get to talk about my favorite topic “social marketing”, but the reality is that I want to be more connected.

On the twitter front, I don’t tend to write pithy 140 character pearls of wisdom. I write longer, more meaty blog posts. I also don’t tend to forward research reports, or other content to my contacts because I want to create a reputation as a thought leader; hence why I spend the time that I do researching and writing my own take on the market. I use twitter to send out the headlines to bring people back to my longer blog posts.

So, in summary, I blog, I participate on the social networks, I integrate my offline marketing with my online relationships. I practice what I preach. Now if I had a larger marketing engine, I would be spending more resource dollars in building a sustained presence that reinforced our expertise, gave back to the market more original content, shared case examples, and tried to help the market synthesize the large amount of noise around social marketing. I do what I can do.

But, I don’t see having more followers as a way of keeping score. I would rather see a company or individual have fewer, better quality relationships that large numbers of followers on twitter. At least on Linkedin, you can get email addresses to build into your social CRM efforts. I actually send out an occasional email digest of my latest blog topics to my social contacts via email. This serves as a reminder of what I do, makes it easier for them to get the information, and allows them to forward as they see fit. I run an opt out program on those emails and I track the clicks, forwards, etc. The point is that a good integrated social marketing program can be qualitative and integrated, but a badly designed program becomes about meaningless numbers….

Now, that being said, you are welcome to follow me on twitter directlyat www.twitter.com/mmrosenhaft if you want the occasional headlines of my blog, or just sign up for the RSS feed.  If you are Atlanta-based and in marketing, I am happy to add you to my list of Atlanta Marketers http://twitter.com/mmrosenhaft/atlanta-marketing.

10 Recommendations for Socially Enabling the Customer Lifecycle

January 27th, 2010

We have had a lot of discussions as of late around how to socially enable the customer lifecyle. Also, begs the question “What does that mean?”

First, we are talking about how you manage customers from awareness, through interest, purchase, delivery, support, repeat, and referral. Depending upon your market, how complicated your sales process, channels, etc. this will vary to a degree, but we are talking about managing a customer from cradle to grave ( hopefully “not” grave). Companies are paying a lot of money for business intelligence systems, CRM systems, contact center, marketing and sales technologies to try and address the challenges around the heightened customer expectations.

Customers do not want the disjointed, endless closed loop frustrations of trying to manage a relationship with a company who doesn’t understand that customers choose from whom they receive “service”. This customer experience is bleeding through into marketing and sales with the ability to mass distribute customer complaints. We have all seen the blogs, tweets, viral videos, etc.

The company that can enable a sustained and coherent engaged relationship with a customer from introduction through purchase and repeat purchases will see a decline in customer churn, increase in referrals, and a decrease in the cost of customer acquisition. Bottom line is that better engagement with your customers leads to a better bottom line. The “means to an end” in this is through social media, online communities, collaboration, web 2.0, etc. type technologies that enable individuals to engage and interact online. Huge wins in terms of brand equity, customer satisfaction, and understanding of buyer behavior, beyond streamlining the service and support processes.

To that end, we spend a lot of time working with companies to design this roadmap since many are still trying to figure out how to get started, let alone walk or run. As we do a good number of presentations on what a roadmap looks like, we thought that we would share the high-level framework in the spirit of ”give to get”; which is the basis of social marketing. Here is our recommendations:

  1. Find out what your market is saying. If you aren’t, you have no idea literally.
  2. Have a plan to engage with them on social networks, blogs, video, etc
  3. Build a good “fishing program” for lead generation
  4. Identify the top places, people, and discussions that your market is engaging
  5. Build relationships online as you would a good PR or business development program
  6. Build engaging content that will educate, entertain, or influence your market
  7. Build an online community for your customers, prospects,  and partners
  8. Listen to what they have to say, measure it, and respond to it
  9. Build an online community for your organization to collaborate and to engage employees
  10. Integrate your applications, corporate content, processes, and data into the community

10 Top Questions for Contemplating Social Media Monitoring

January 25th, 2010

For companies contemplating social media monitoring, this post analysis is meant as a starting point for integrating such an offer with Social Gastronomy’s Enterprise Social Management consulting services.

The Social media monitoring technologies are not sufficiently mature to be “install and go”; especially if the provider is looking to integrate multiple tools. This will require additional selling, implementing, customizing, and executing to manage the integration of the multiple data stream; which are exponentially more complex beyond single tool selection. Some large brands use up to 16 different tools in its social media monitoring program, we use 10+ for just our social market audit. Adding to the complexity in tool selection is the fact that a strategic snapshot that shows the relevance to the brand and business is different than the tactical dashboard and may require a completely different tools set.

Additionally, the competitive tool landscape becomes more complicated as provider moves up the “food chain” to sell to new levels. The expectations as to how extensive the monitoring program will become will be dictated by the CMO’s desire to consolidate efforts; ie. Across monitoring for brand, reputation management, customer contact, etc. the provider could find itself competing for a broader base of business against PR, Marketing Communications, and Contact Center firms for the Social Media business. We suspect that this will naturally (already) occur as CMO’s will come to the conclusion that the monitoring and listening capabilities should be centralized and feed data for multi-purposes.

Recommended Planning Steps

Area of Planning Key Issues Impact
Business Planning
  • Expected return
  • Ownership within Organization
  • Measure success
  • What are you really buying
  • Investment required over time
  • Resources
  • Business case
  • Technology investment to support offering
Roadmap will dictate the business and investment requirements. If requirements are more extensive than expected, will cause perception issues as to quality and ability to execute.
Program Management
  • Pricing
  • Packaging
  • Target customers within organization
  • Tool selection now and future
  • Duplication of data
  • Data cleansing process
  • Start with a core application and add other offerings
Expectations around the offering will dictate whether one tool or many will be required. We are seeing client have more mature requirements in terms of comprehensive information collection and synthesis.
Operation Execution
  • People Requirements
  • Process Requirements
  • Technology Requirements
How far along the business requirements have gone in preparing to scale the a program
Solution Customization
  • Add’l types of listening tools
  • Process
  • Training
  • Dashboard
  • Addl tools
  • Packages?
  • Pricing
If you trend as other enterprise social media clients that we have seen, then the customization requirements eventually will be extensive. Preparing for scenarios may allow for better initial package and accelerated scalability
Integration
  • Process
  • Requirements
  • Customer training
  • Project set-up
  • Policies and procedures setup
  • Roadmap for clients
The enterprise customers seem to be more mature in expectations around integrating offering into their environments and not as tolerant for siloed management. Has impact on operations and customization.

10 Top Takeaway Questions to Answer

  1. What is the expected hand-off when Social Gastronomy does strategy?
  2. What if organization wants other tools to include into the mix?
  3. What if monitors in other areas and wants to combine – call center, pr or marcom firm?
  4. Reputation monitoring, brand reach, complaints, categories, competitive intelligence, and qualitative analysis – what are you monitoring and why?
  5. Sentiment analysis – how leverage, how integrate with other data, how overcome shortcomings?
  6. Sentiment analysis challenges and manual review, omissions, volumes, discrepancies
  7. What does the integrated tool dashboard look like? Is there a different dashboard for the daily user, weekly manager, and monthly/quarterly executive?
  8. Integration into CRM – process, results, so what?
  9. How integrate into broader programs, how to use as door-opener for new expanded social media presence management?

10.  Where does this go? Roadmap?

A Tale of 2 Marketing Programs: Social Media Versus Search Engines

November 24th, 2009

Social media is going to take budget dollars away from search engine marketing. Already is in many major brands. Simple economics are driving this transition.

If a major ecommerce player is spending 50% of their budget on search engine marketing, website optimization, and link optimization programs, but is losing the war to bloggers in organic search. Why would the ecommerce player continue to spend massive amounts of money on advertising when they can focus on blogger outreach (ethical, not paid) for far less money. Better yet, fix their customer experience and get customers to evangelize on their behalf. this slide says it all….

Click Picture to Expand

Additionally, as we analyze the various social media monitoring and metrics tools, the challenge is pretty evident. Search engines work off of structured data. I can run an advanced search and build filters for my search results. The challenge with social search is that the taxonomy isn’t defined. How you talk about a problem can be completely different than I talk about it. Potential buyers may not even recognize that the problem they are discussing on social media is even in the market. How do you build an automated tracking of taxonomy around unstructured data?

Effective lead generation program within social marketing require human knowledge of your solutions and also the ability to follow discussion threads to identify contextual relavence. Over time, you should be able to fine tune the algorithms for your social monitoring programs to become 80% accurate, but the most successful programs are leveraging human knowledge to make social marketing engagement programs to become discoverable, impactful, and actionable.

Otherwise, you get the the large number of costly “unqualified” leads that flood into websites similar to the search engine marketing programs. These programs either make it up in volume or work the “long tail” of key words to reach better qualified buyers. Social marketing can get you to the “long tail” faster as most buyers start with questions in the long tail when they do not know what they are looking for and leverage the expertise of others to become more specific as they learn what they don’t know.

Social Media Policy and Your 15 minutes of Fame

November 23rd, 2009

Andy Warhol said that in the future everyone would be famous for 15 minutes.  For one Atlanta area teacher, that fame – or rather, infamy – comes in the form of pictures posted on her Facebook page.  Over the summer this particular teacher took a trip to Europe where she was included in snapshots with friends at dinner and over drinks.  Seems simple enough, except that she posted the pictures on her Facebook page, where a parent got wind of the posting and complained.

What is a teacher to do?  What is any employee to do?

Typically teachers are held to pretty high standards of behavior, detailed in county level morals clauses and statewide professional standards.  So why all the fuss and confusion?  In this case, there seems to be a lack of clear and thoughtful social media policies at the county level.  In fact, the Atlanta area system where this incident occurred isn’t schedule to consider developing or implementing social media guidelines until December.

Unfortunately, this is not surprising.  A recent MarketingSherpa survey revealed that only 33% of large businesses and organizations have implemented a Social Media Policy.  The other 67% either don’t recognize the need, or are still in the development process.

Why are so many companies dragging their feet?  There are a couple of reasons:

Fad – Too many corporations still think that social media interactions are a fad.  Why would any no nonsense, well regarded brand embrace a medium built on chit chat and status updates?  These entities think of social media as time wasters and discourage usage.  The reality is that the medium is here to stay.  Whether it’s called Facebook tomorrow, people will still be interacting in the social media space.  Smart companies will embrace this and develop guidelines for employee usage.  Really smart companies will incorporate social media activities into their own communications structure, championing information exchange among employees and potential customers and harnessing the power of that influence.

Fear –  Leadership at many larger companies and organizations came of age at a time when  brand communications where one way – outward facing.  Large brands told customers what they wanted them to know, orchestrated how and when those messages would be presented, and called it a day.  Now that communications model is crashing to the ground and many C-suite executives don’t know what to do.   Comments and messages on social media platforms are submitted for public consumption.  And when those mentions are negative or even false, many organizations don’t know what to do to handle them.  Creation of social media policy builds a framework and a context within which companies can begin to handle these sentiments.  Courageous companies will listen to the chatter and will thoughtfully consider how and when to react, turning negative comments into customer service opportunities

Frustration – Some large companies have gotten in front of the wave and are already “active” in the social media space.  They may have a Facebook page and a Twitter account, but they don’t do anything with it.  Just this week, AdAge reported that 76% of Branded Twitter accounts lie dormant.  Lack of policies, strategy and intention have hamstring many early adopters and their attempts at successful utilization of social media within their organizations and in the online community.  But a structured approach to social media, beginning with social media guidelines for internal communications and external outreach, will reduce corporate frustration.  Companies that seek to develop methods of internal communication empowered by social media can groom and grow their own corporate cheerleaders and industry evangelists, and shape organizational perception.

It has been said many times that perception in reality.  No matter what our intent, it is the perception of its receipt that is remembered.  Perhaps the teacher at the center of this latest Facebook incident did not intend for others to see or respond to her posted pictures in the way that they did.  But the reality is that, regardless of her motivations, someone complained.  She might have been helped by clear and thoughtful social media policies from her employer.  Definitely, the employer would have firmer footing to engage the teacher if there had been.

It seems here Facebook pictures are feeling more like a mug shot than anything else.