Blog Posts

Blog Posts

Items per page
0

Find Your Social Spark! in Blog

Posted by paulstillmank Feb 20, 2010

We’ve talked (and we’ll keep talking) about the need for a strategy to apply social media to your business.  The islands of Facebook Fan Pages, Twitter accounts, Youtube Channels, and one-off blogs need to be reigned in and managed. A strategy integrating them into an overall marketing and execution plan is needed.  These new media components can become important to how your organization grows its business, or they can become paid hobbies for fervent employees leaving you to ask later on whether any value was gleaned from their activities.  Even after your strategy is developed, even after HR and Marketing have aligned your brand with your employees’ online behaviors, even after you’ve figured out how to reach a relevant target audience in their media; you need one last item to activate your social media strategy.  You need to find your social spark.

 

 

socialsparkmedr2.jpgTime and again, we see overzealous companies trying to ignite a fire, but with no real spark. They’re trying to build a bonfire that can be seen all across the social web. They want to attract as many people as possible to their brand, their product, their service.  They’ve amassed their best content and product information (the wood for that bonfire); they’ve even stacked the cards in their favor and dumped a little kerosene into the mix with some blogger outreach and paid blogger programs; yet things just aren’t igniting as they’ve planned. They still don’t have any fire. So what’s your spark? 

 

 

We’re finding that the answer can be different for different organizations. For Zappos, it was a Twitter aggregation model. For Siemens it was a focused Info-Center for employees to channel their social power. Dell lit a fire with IdeaStorm and @DellOutlet. Starbucks lit several raging fires starting with mystarbucksidea.com and then adding a blazing hot Starbucks Fan-page. Blendtec lit their fire with a viral youtube series Will It Blend? It takes a little creativity to find your spark, but it starts with a mindset change.

 

 

We see traditional corporations that move into Social Media adopting a defensive posture.  They take the standard PR position of trying to manage the message.  They might hire a PR Social Media Agency. This is the mindset change that needs to occur.  You don’t want to manage the message, but engage the conversation.  Think of it as a party with a room full of people.  Don’t worry about the two people in the corner talking trash about you.  Get the rest of the room to look to you as the conversation catalyst.  Have everyone else want to get into your conversation. There will always be negative noise in the digital world.  Don’t focus on snuffing it out.   Focus on building the positive, collective voice so big that any negativity gets drowned out.

 

Sure moderation needs to occur, but it’s not the focus.  Every time I see a job posting for a ‘Social Media Moderator’, I wonder how much different that organization would be if they hired a ‘Social Media Catalyst’ or a ‘Social Media Evangelist’ instead.

 

In the book, Groundswell by Charlene Li, Charlene lays out the requirements for sustaining a social networking site.  She suggests that to be successful the site must:

 

  • Enable people to connect in a new way
  • Be effortless to sign up for
  • Shift power from institutions to people
  • Provide an open platform that facilitates partnerships

 

These points are all true, but they alone are not enough. Twitter had everyone one of these, but that fire smoldered along for over a year before igniting when Ashton Kutcher competed with CNN for the most followers.  That event brought Twitter’s bonfire to life. Of course, the answer isn’t to go out and engage a movie star for your strategy, but asking these questions may help find your spark:

 

  • How do you monetize all of the user-generated content out there about your products/services?
  • What will spark the conversation?
  • What’s your ‘pick up’ line?  What do you hope the response to be?
  • How will people even know about your conversation to begin with?

 

In your quest for the answer to these questions, you will hopefully discover your Social Spark.

 

Paul S.

7Summits

336 Views 0 Comments Permalink Tags: relevancy, applied_social_media, social_media_marketing, connected_social_campaigns, strategy, integrated_marketing
0

Thought of the day. There is a lot of discussion about the good things and the bad things that social media can do for companies. From a Marketing, Product Development and Customer Support POV, we believe this is the best thing to happen to your respective departments in a long time!

 

Back in the pre-web and web 1.0 days, companies would conduct expensive research through 3rd party analysts, focus groups, customer surveys, feedback cards and various techniques and tools to try to understand what their consumers wanted and or did/didn't like about their products or services. Conversations about your company in past decades went unchecked in living rooms, events, and the work place across America - good or bad - without any ability for you to:

 

  • Monitor
  • Influence
  • Intervene
  • or Interject.

 

If a customer had a negative experience with your company, chances are they would tell many people and the damage was done - unless of course they took the time to call or write a letter. If they had a positive experience there was no efficient way to hear about it.

 

Among the many benefits of social media, the best attribute is perhaps transparency. Company’s now have complete unfiltered and open dialog with their customers and prospective buyers. People still talk offline, but more and more they are talking online through blogs, discussion forums, consumer reviews and tools like Twitter. If you want to find out what Joe consumer thinks about your product or service, a quick pulse of the social web will reveal a wealth of real-time conversations good or bad. And wouldn't your rather know what people are saying about you company?

335 Views 0 Comments Permalink Tags: product_development, customer_service, marketing, integrated_marketing, reputation_monitoring, listening, social_media_marketing
0

7summits_content_seeding_user_concept.PNGThere is an art and science behind designing your content to travel on the social web. Anyone who has seen the conversation prism by Brian Solis is well aware of the many distribution channels and outlets in the social media ecosystem. But what are the ingredients needed to seed your content?

 

 

In the social web, content is being generated about our companies,products and people everyday whether we are apart of the conversation or not. And therein lies the difference between the social web and its previous iterations. Conversation is now key. Content may still be king, however conversation can amplify its effect whether having positive or negative connotations for a business. Dell's Ideastorm is a textbook example of how a brand can take negative content and energy surrounding their business and products and channel it into a positive dialog with its consumers now creating positive UGC.

 

Create great content

Best stuff for social media has:

  • No registration
  • Valuable information
  • Minimal promotional aspects


Break content into bite-sized, digestible chunks.

 

Optimized Content is King

  • Optimize your titles
  • Optimize your content for SEO and Social pickup
  • Use Tagging, Metadata and Hashtags
  • Enable user-tagging of your content (folksonomy)
  • Categorize Your content (Taxonony)
  • Optimize Your Digital Assets Video, Photos, Audio
  • Give your users tools to seed your content on the social web - Re-tweet buttons and social bookmarking apps.

 

Key takeaways -

  • Content is still king, become a publisher!
  • Conversation is queen, inspired by content
  • Design your content to scale
  • Create content that adds value
  • Design your content to spark conversation
  • Allow your content to be easily shared and distributed (de-centralized)
  • Mine your data - there is good content here
  • Empower your audience whether consumer or stakeholder to spread the
    word with the right set of tools
  • Mashing up different content can create compelling widgets/apps
  • Content comes in many forms (conversations, comments, text, images, video etc)

 

Paul Stillmank

7Summits

701 Views 0 Comments Permalink Tags: social_media_marketing, pr, contentstrategy, seo, smo, social_influence_marketing, marketing, strategy
0

It has been over a week since Jive World 2009 and the vibe is still going strong! From the time we arrived at Jive World in San Francisco, the sense of community was everywhere.

 

TogetherJiveWorld.png

Companies, Partners, Speakers and Jive Software all gathered together to discuss the forefront of everything Social. Stronger, more integrated marketing and sales performance.  Better connected employees. Improved product ideation and development. More efficient and responsive customer support. These are the topics that wafted through the event from the intimate round-table sessions to the partner expo area.

 

This was educational. Participants learned about techniques for growing and managing communities. They learned about building the business case for social business software and how to measure success. Jive Software provided details on their product roadmap and attendees cheered as new feature sets were revealed. The analysts agreed as newly published reports showed Jive to be an even more strongly positioned leader.

 

I think one of the most compelling things that happened though, was the connection among Jive’s customers. We saw people sharing ideas on content strategy, community management and business integration - these are case studies in the making . And how appropriate that the discussion continues on line in a JiveWorld Community.

 

I was honored to be invited as a speaker on Jive’s expert panel “Community – Bringing It All Together”. The conversation during the panel was thought provoking. Why is the ROI-bar higher for Social Business Software than other marketing programs? How will the social context change business models? What is the future of eMail? How will we navigate the abundant streams of information in the years to come? The answer to this last question: the information will present itself to us – based on our context, our proximity to others, our recent activities, our needs, and more. That makes sense and concepts like “serve not search” and  creating a more socially designed business are at the forefront of our thinking at 7Summits.

 

KCairportTerminals.png

JW09boothcopy.jpg

Our booth at the expo focused on our key concepts of Social Business Strategy, Connected Social Campaigns and Applied Social MediaSM for business. Many attendees stopped by to share that although they had “broken through” and established a strong and viable community, they had not taken the time to devise an overall Social Business Strategy. They are now being asked to do so – measuring their success and then propagating it to other parts of the organization. Marketing extending toward sales enablement. Customer Service and Opinion Leaders providing product feedback to Product Development. Human Resources leveraging community for recruiting, employee indoctrination and sustained involvement. We’ll share some models for a more socially designed business in detail in the coming weeks.

 

 

 

As we headed home, community was oozing from every corner of our minds. Even the Kansas City airport terminal layout (shown here) reflects the type of imagery that we have been applying to Social Business Models. Community is everywhere!

 

Paul Stillmank

7Summits

 

500 Views 0 Comments Permalink Tags: applied_social_media, connected_social_campaigns, integrated_marketing, jive_world, socially_designed_business
2

We are now meeting with dozens of prospective clients and we are seeing a pretty wide range of approaches being taken when it comes to Social Media. Many companies feel somewhat behind and they are tryin to "catch up" by throwing up fan-pages, twitter accounts and Youtube channels hoping that something positive will happen. We also see some companies starting to “listen” online by using online tools like SocialSense and Radian6. That’s good. Online listening should be one of the first Discovery steps when planning your Social Business Strategy. Overall though, one theme stands out more than any other: companies are applying social media without a solid plan for doing so. Even those companies listening online aren't sure what to do next. Here is a sample of what we see every day:

  • Facebook pages that are virtual islands with no integration to other marketing efforts and no links into or out of the pages.
  • Youtube videos shot by high-end ad agencies (that’s expensive) with no more than 40 or 50 views over 6  months.
  • Companies with fan-pages for every sub-brand, but with no plans to moderate them and no forethought on how to handle an irate comment.
  • Twitter accounts launched without a full understanding of the range of tools available, without knowledge of how to drive a relevant follower-ship, without a hash-tag plan, and/or without understanding how to really leverage this channel to reach consumers.
  • Solid product reviews on sites like ePinions, Yelp, InsiderPages, ViewPoints, and MerchantCircle that are not being pulled into the parent website, fan-page or other web property.

This is standard fare out there. However, it does not (should not) have to be that way. Our last few posts resonate with one theme: social media should be integrated with your other marketing efforts. Our Strategic Framework for Applied Social Media illustrates how social media has taken its place in all phases of consumer engagement: awareness, relevance, conversion, involvement and ongoing engagement. Offline marketing, online/web marketing, social and ecommerce all come together here. An integrated approach simply garners the best results. Interactive Marketing has matured to the point that it has its own department in some larger organizations. Perhaps the word “integrated” should be substituted for “interactive” – it is a more powerful concept.

Another way of thinking about integrated marketing is to think about connections. Here, we mean connections that consumers perceive among your marketing efforts.

  • ATTRACT prospective buyers and make them aware of your products or services.
  • INFLUENCE the prospective buyer by using both search and social to establish relevancy for your product or service.
  • ENGAGE your prospective buyer by directing them to the appropriate channel for conversion including the possibility to transacting in their desired media.
  • RECRUIT new customers to get involved with your product, service, company and brand. Encourage ongoing engagement by inviting them to join your own community or relevant social venue.

To illustrate this point, we’ve tipped our Strategic Framework on its side.

Picture5.png

 

In this model, you can see how all of the consumer touch-points across the social web come together around your product or service, from the initial search or word-of-mouth reference to the satisfied customer advocate.

 

At the beginning of this cycle, a consumer becomes aware of your product or service. They may have been struck by a need and then gone online in search for a solution. Or your may have worked to ATTRACT them. Yes, you can drive awareness by using both search and social to attract prospects. They might have been prompted by any number of stimuli including an offline ad, a radio spot, a TV commercial, a press release, a referral from a friend, or a host of other motivators in a range of appropriate venues.  A well-integrated plan begins with these earliest stimuli in mind. A product, its genre and targeted key-words are strongly correlated from the very beginning. The connection is planned from the start. Now when your audience moves online, the initial behavior is biased –they will be searching with a specific genre or terminology in mind. Those companies with savvy SEO and SEM execution will affect their product being presented near the top of the search results.

 

From this point onward, a prospective customer will be comparing the results of their search. Your product’s relevancy is established through combinations of ratings, reviews, blogs, discussion forums, and other user-generated content (UGC). They may also consult their “social graph” meaning the fans, friends and followers across their own networks. This is what we refer to as Social Commerce: using your social graph to INFLUENCE your buying decision.

 

Once a prospect reaches that point of conversion, you will need to ENGAGE them: directing them to the appropriate channel (eStore, retail or dealer network) to complete the sale. They will have been influenced by your positive position in social, search, ratings and reviews.

 

To help perpetuate the cycle, one more connection is made. RECRUIT new customers by asking them to join a community, fan page or other venue and submit a product review when they are ready. These product reviews are an important step toward getting your new customers involved, but they also represent fresh content that will influence the purchase of other prospective buyers. In time, some of these customers may become advocates for your brand, lauding its attributes, products and innovation. Consumer advocacy is a much sought after aspect of the social web and an entire science is springing up around Social Influence Marketing. Mining for this information and elevating it through social venues sways future customers. This is what we mean by “connected”. Now we are back to online listening and making sure that all of this is working as planned – and this is making more sense.

 

I’ll close this post by pointing out one remaining aspect of this model: measure and refine. Social Media has made it easier to measure online consumer behavior. This allows us to create models that connect both conversations and activity on the web to business results. The right data can be collected and analyzed to provide insights on the value of your content as well as your products and brand. Consumer behavior is monitored and refinements are made throughout the cycle. This helps to get prospective buyers the right information at the right time to speed the process along. It also helps determine which venues and user-generated content are the most relevant toward affecting that transaction.

 

Social Media can be a powerful accelerator when properly integrated with the rest of your marketing efforts. Think about Connected Social CampaignsSM as the outcome of a well orchestrated Integrated Marketing Strategy.

Paul Stillmank - 7Summits

710 Views 2 Comments Permalink Tags: connected_social_campaigns, applied_social_media, b2c, web_marketing, b2b, integrated_marketing, customers, marketing, sem, social_media_marketing, social_influence_marketing, relevancy, awareness, measurement, strategy, sales, conversion
0

Most marketing organizations are finalizing their 2010 plans. As they do so, many are looking at social media and how it aligns with other investments and ongoing programs that will be in effect in the New Year. Websites are already being updated with fresh content and e-stores already reflect new products or services. Current web and online marketing already include search engine marketing as well as paid advertising. Given this reality and the increased pressure to drive more of your marketing spend online, where does social media fit?

 

Picture2.jpg

 

The very clear answer is that social media can compliment your overall marketing strategy very effectively when it’s truly integrated.  Conversely, when treated as a separate channel or kept in a silo, it can actually work against your other efforts.  This isn’t a revelation to any good marketer: online focused or not. A poorly planned and executed print or paid ad campaign without a specific focus or the right content and plan to back it up, can actually damage your brand and leave consumers feeling confused. The same is true with social media. When executed in isolation and without a solid strategy and plan, you run the risk of creating noise and missing real opportunities when consumers stumble across your efforts.

 

The key to making social media work for your marketing efforts versus against them is integration across all channels. Make sure you are connecting social media with all of your other online efforts from search engine marketing to ecommerce. I threw together a quick diagram to help illustrate this concept. Empower individuals to participate and interact with your brand by giving them the right information and tools at the right time. Integrated campaigns that include social media as part of your pre-click (off-site) and post-click (on-site) web marketing strategy can amplify the effect of your marketing efforts, helping to stretch your budget further by reaching a greater audience.

383 Views 0 Comments Permalink Tags: web_marketing, social_media_marketing, strategy, conversion, integrated_marketing
1

We talk regularly to brands about where to begin with social media. As we shared in our last blog post, eMarketer recently published a survey touting the many benefits of social media presence for brands: 

  • Influence brand reputation
  • Increase brand awareness
  • Improve search engine rankings (SEO)
  • Increased Website Traffic
  • Lead Generation
  • Improved Internal Commuication
  • Increase Online Sales

 

Well, the inverse also is true. Especially for brands that have no effective or coordinated social media presence. All too often, we see the situation where a negative blog or discussion thread is ranking higher than a brand’s corporate website – or at least in the top 10 results in Google. We see negative user comments, ratings and reviews on social sites like Facebook, YouTube, Glassdoor or business listing sites like CitySearch or Yellow pages. Again, with no response from the brand involved. Most marketers remember the scramble in the late 90’s to register a domain name and get a web presence in the Web 1.0 brochure-ware days. By early 2000, marketers started to realize that they needed search engines (specifically Google) to help online audiences find them. The craft of SEO was born. Next, there was an emphasis on brand protection. Everyone started to compete for search real-estate by using paid ads (Adwords) to better position their brand, their company, and their products or services. New practices evolved like registering variations of domain names, including misspellings, so that competitors couldn’t hijack a brand. These same concepts apply to social media, but with a twist. By its very nature social media is a two-way conversation. Simply setting up a Facebook page or parking a Twitter account with no monitoring or moderation only amplifies your issues. A business that doesn’t invest here risks dilution of their brand, hijacking of new and existing customers by competitors, and a truly negative perception by consumers that expect their favorite brand or product to accessible and enabled via the social web – in their media.

 

Whether you’re a small or big brand, B2C or B2B, you can’t afford to delay developing a social media strategy for business. Just like the last two iterations of the web (web 1.0 and 2.0), you can’t do everything at once, but you also can’t afford to sit still. The bottom line here is that Social Media is now an important part of the mix. Investing the time and effort to create a proper social media strategy helps avoid poorly executed social campaigns with little or no positive impact. Set the right objectives, create the strategies to support delivering on them, and then prioritize your efforts to reach that overall outcome. There is a craft here. A well-planned approach to social media integrates your other marketing efforts, amplifying the overall effect. That’s how you gain ground on your competitors with the social web.

Paul Stillmank

7Summits

681 Views 1 Comments Permalink Tags: social_media_marketing, strategy, competitors, b2c, b2b, integrated_marketing
1

The recently published Strategic Framework for Applied Social Media serves as an excellent back-drop for discussing our Marketing Imperative: “creating awareness, growing sales and taking market share.”  We presupposed in our earlier discussion that some definite value levers supporting marketing can be positively affected through the use of Social Media:

  • Improving the efficiency of creating brand awareness & customer attraction
  • Gathering insightful, segmented market intelligence
  • Quickly identifying market trends
  • Multiplying the effectiveness of campaigns
  • Building brand-centered community to increasing customer loyalty

We’ll be talking about these on and off here and ultimately starting a discussion for each business imperative elsewhere on this site.


Let’s take the first value driver for Marketing.

 

Improving the efficiency of creating brand awareness & customer attraction.

 

SFASM-Awareness.png

 

The most expensive aspect of marketing is acquiring and re-activating customers. This means gaining awareness and providing relevancy to affect a sale or conversion. Social Media venues are gathering places for a targeted purpose, allowing companies to take their brands where it makes the most sense. This lets companies more efficiently reach the demographics that best fit their product, service, or need. The location of a company's content has become just as important as the content itself. Traditional models are too focused on broadcasting brand promises where the message is not wanted or heard. Integrating a corporate blog to social media sites where the content is relevant, however, creates a rich brand experience.


SEO and SEM techniques are now complemented by the fact that search engines also read social media. These sites are updated frequently by users, often affecting the conversations that a company participates in being picked up and transmitted to the search engines more effectively. This paves the way for a host of solutions that leverage social media to drive awareness. Unfortunately, there is a temptation to apply traditional marketing measures like cost-per-click to rationalize the effectiveness of social media campaigns. Cost-per-click (CPC) is the amount an advertiser pays each time a user clicks on their advertisement. Google AdWords has a pricing system based on clicks. Even though early research results imply a better CPC return for social media, I have to completely disagree with the premise here.  There can be little debate that the cost-per-click for social campaigns is a less relevant measure. PageOne PR recently published some comparative CPC results that further confuse this point:

cpc data silicon valley high tech product companies.png

      Excerpt taken from PageOne Public Relations at

      http://www.pageonepr.com/social-media/social-wonders-newsletter/july-newsletter-addendum/

 

Limiting social media to traditional measures reduces its context from being truly social. As the social context develops, relevant measures, and the way they relate to Sales & Marketing, will become evident. Think of things like the number of times someone tagged, commented, favorited, or embedded information about your company, brand, product or service. What about the number of fans, followers, and friends? What about the number of discussions that they are participating in? These are better measurements for the social context. These are truer indicators of the quality of awareness that companies are seeking. Relevancy now becomes implicit. If we can devise social campaigns that trigger these behaviors, then we will be well on our way to driving awareness from the audience we are targeting, reaching them in a more efficient manner and converting more like-minded peers.

 

I'll close with this. The majority of marketing executives now recognize many benefits of using Social Media. 


socialmediamarketing.bmp

 

So collectively, we are seeing results. We know that Social Media has made it less expensive (and easier) to reach consumers. We know that we can now use Social Media to tailor messaging across a range of consumer groups, venues, and advertising channels. We just aren't completely tuned in yet to the measurements that are the new indicators of success. We mentioned some here and we'll continue to explore this topic in future posts.

 

Paul Stillmank

7Summits

1,001 Views 1 Comments Permalink Tags: conversion, awareness, relevancy, measurement, strategy, business_imperatives, customers, marketing, sales, social_media_marketing
0
Traditional online marketing and eCommerce contexts are undergoing a revolution of change driven by the social nature of how consumers engage online. 7Summits has created a strategic framework that captures how social media is applied to these contexts:
ASM Framework.bmp
This takes into account several best practices as they relate to developing a Social Business Strategy:
  • Business imperatives should drive your use of social media, not just the technology itself.
  • Customer activation, re-activation, and retention should be the primary goals guiding the use of social media.
  • Social Media should be applied with consideration for your core Sales & Marketing lines of attack: grow awareness, establish relevancy, increase conversion, generate involvement and create ongoing engagement.
  • Measure your baseline and then measure and analyze your results to determine impact on behavior, sales, reputation, and overall ROI.
  • Social Media and Web 2.0 complement and extend marketing strategies and do not replace them in total.
  • Social Media can be an important element of an overall marketing plan when market segmentation and audience analysis help guide the way.
  • Identify customer advocates and key opinion leaders and then activate them as a social influence for your brand.

 

 

We like this framework because it can be applied to all four stakeholder groups for a company: customers, employees, partners, and, to some degree, investors. We have used this as a thought provoker with several client prospects and have found our conversations going well over the allotted time. Companies like the context of social media and web 2.0 as an integrated component of their overall marketing strategy. This model merits consideration when creating a Social Business Strategy & Plan.

 

 

Awareness | Relevance | CONVERSION | Involvement | Ongoing Engagement

 

We will be referring to this strategic framework as we explore Applied Social Media.

Paul Stillmank

7Summits

786 Views 0 Comments 0 References Permalink Tags: planning, strategy, business_imperatives, retention, customers, employees, sales, social_media_marketing, investors, partners

You know, we really didn't believe it at first. How could all of this fun stuff called "social media" have anything to do with business? But it isn't exactly a big stretch to realize that where consumers spend their time is where companies need to reach them. That's nothing new. What is new is the number and type of media that consumers are involved in and how they both engage and expect to be engaged.

Media is proliferating at a rampant pace. There are currently well over a dozen different categories of social media and hundreds of named media across those categories. Audiences are having conversations about brands and products and, quite frankly, this information is more readily available than it has ever been before. In fact, there is an overwhelming amount of it.

Consumer engagement has changed with social media as well. It's social. Broadcasting advertising is being tuned out and audiences are more likely to be influenced by like-minded peers providing referrals and/or product reviews. When you take into consideration the multitude of individuals becoming influencers through their own blogs, twitter accounts, Facebook fan pages, and more, it makes the question of "reach" more complicated than ever. It's no longer just "where", it's "where" and "how". Yes, there are new rules of engagement as well.

This proliferation of media combined with new models for consumer engagement has left companies more dependent upon and less aware of how their business is portrayed in the social media realm. The reaction has ranged from indignation to over-reaction. Those reticent to participate are overwhelmed and hope that it all will just go away. Those that embrace these changes realize that segmentation is being handed to us online and they are rushing solutions to the market: many times without a clear plan for how it truly relates to the performance of their business.

 

It’s this latter group that interests us. These are the pioneers whose case studies we are all harvesting now to find a better way. Some were lucky. Some were smart. Whether lucky or smart, these companies and their forays into social media were successful because they delivered bottom line results. We contend that there is a way to do this more reliably and it requires a focus on core business imperatives and the value levers that directly impact them.

 

So what are these business imperatives and value levers? They’re the basic tenets upon which any company is built. Let’s take an example. “Increasing brand awareness, growing sales and taking market share” could be described as a business imperative that sales and marketing would affect. Value levers are specific actions that can be taken to directly impact a business imperative. The example business imperative just mentioned can be directly impacted by actions around product portfolio mix, pricing and sales promotion activity. These are value levers. Social media can be applied to drive these actions harder. Specifically, social media can be leveraged to multiply the effectiveness of campaigns.

 

What’s really incredible about this thinking is that once we embrace it, benefits of applied social media go well beyond sales and marketing related imperatives to other areas of an organization:

 

  • Human Resources: Attracting, engaging and retaining a workforce;
  • Product Development: Aligning innovation with market demand and being first to market;
  • Public Relations: Maintaining a positive reputation;
  • Customer Service: Providing consistent and efficient customer support.
  • Procurement: Making buying decisions in the right quantity, at the right time and from the right source

 

Social media can impact many of the value levers supporting each of these as well.

 

Early adopters of social media focused on changing and enabling consumer behavior. Now the word “consumer” can be replaced with “audience” referring to employees, partners, and customers as enterprise applications of social media become more evident.

We’ll keep exploring these concepts with you in the coming months. We’ll present clear examples of how social media can be applied across the enterprise. We won’t be limited to just marketing. And we’ll always focus on measurement.

Paul Stillmank

7Summits

491 Views 0 Comments Permalink Tags: value_levers, business_imperatives, strategy, marketing
RSS feed of this list