Archive for the ‘Social CRM’ Tag

Wish List for Social Marketing Metrics

I get requests to review social media related platforms all the time; functionality, metrics, and integration. Some of these platforms are really good and some of them will die a quiet death. I make it a point to not discuss any specific platforms just because I want to stay strategic in this blog. But, I think there is value in outlining what I am looking for in the way of platform measurement capabilities that will support my social marketing strategy. Here is my wish list of activities that I want to measure and for which I am trying to collect tools; some of which is available and some is still not ready for primetime…

  1. Automatic Chatter Analysis – who, what, where, when, why, and how with comparisons, triggers, analysis, and a dashboard.
  2. Synchronization of My Social Networking Contacts – cross platform and multiple networks with the ability to start with one and find someone on another; i.e. uploading a twitter contact and have the ability to synch with LinkedIn or Facebook or email.
  3. Social CRM – then do that for all of my company’s contacts, dropped into a CRM system which I can then manage multiple contacts, campaigns, and relationships
  4. Online Community Lead Scoring – apply lead scoring to my own hosted community. I want to be able to identify when activities in the community indicated greater interest and send that into my CRM or multi-channel marketing system for follow up.
  5. Multi-Channel Reach Measurement – include social networking channels, twitter, blogs, back links, SEO, & SEM. Not just email and web analytics.
  6. Social Influencer Scoring – compare the various potential lead influencers to compare; blogs, communities, social networks, twitter, forums, sites, etc.
  7. Lead Source Analysis – Need a better way of being able to identify and track indirect sources for leads. I can use the latest web analytic tools to identify pages, but I need a way to elevate that to identify the sources of leads to compare and contract; i.e.  2nd generation re-tweet triggers a wave of people to our website. I want to be able to match the tweet to the twitter user to the lead. This would require some serious integration between social media and web analytics with a healthy dose of marketing legwork.
  8. Strength of Social Marketing Channels – Once you can track, then you can evaluate.
  9. Cost of Lead Acquisition by Social Marketing Channel – This is the Holy Grail; to measure the cost of lead generation by channel. Cross match it to revenue from leads and lead source and you have ROI.
  10. Social Marketing Brand Strength – Measurement of reach, calls to action, and actual action. There are some metrics out there with proprietary formulas, but this is still nascent.

If automatic ROI calculations are still some point off into the future, then what can we measure today and how can we justify our expenditures on Social Marketing? My answer is that it depends on the “how’s”; how big, how complex, how sophisticated, how much is your budget, and how much time? You can track a great deal with the tools currently available which is more sophisticated than much of the traditional brand-oriented mass communications channels that exist today. So, the good news is that we are moving in the right direction, but it is still more art than science. Well, at least until the platform vendors provide the above capabilities.

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Social Marketing Changes Everything Part 1 – Introduction

If I asked the question “Who wants better leads, increased revenues?” I would see every hand up in the room.

” Through social media?”  I would still see pretty much every hand in the room raised. 

If I told them that they would have to changes their approach to marketing, lead generation, customer satisfaction, and their view of their market, how many hands would stay up? If I told them that they would have to take some risks, expose themselves (metaphorically), do something unconventionally, challenge their team, etc. would you find any takers? a few…

Now, if I told them that every one of their competitors is planning on doing this and that they could choose to do it early to get “competitive advantaged” or they could wait and be a “me-too”. I would find the room in two camps, split between the optomists in the face of a economy poised to recover and the business convervatives who are trying to maintain what the have in the face of a recessed economy.

I read a lot online from social media “experts”, but other than they advocate the use of  social networks like Linkedin, Facebook, MySpace, Twitter, Youtube, etc. for business (Screaming ad-like tweets “You too can make money”…) I struggle to break through the noise to connect with the real innovators who have a strategic approach to integrating social media into their full marketing programs.

Here is my two cents worth – Social Media is fundamentally changing Marketing. In my mind, it is not about how you add the social networks to your marketing channels of communication (they should be thought of as channels), but rather how you rethink marketing and brand management. The initial wave of website in the mid-90’s started to a fundamental shift in marketing. I talk to a lot of companies about social media, Web 2.0, social CRM, social networking, etc. Some think it is a FAD, most think it is fun and interesting, some are trying to use it for business, but some are taking advantage of the rest to drive growth. This shift in marketing is happening again.

I am not talking about occasionally sending something out to the 132 people on Linkedin, 675 college buddies on Facebook, and the 3750 followers that you have built on twitter (these aren’t my numbers). I am not talking about building online forums into your website. Not talking about use meebo to chat occasionally with an ex-colleague. I can go on, but the point is that social-optimized, Web 2.0 interactions  are creeping into the way that we all do business. You can use them or you can rethink your approach to leverage them to “change the rules”.

If you are a “changes the rules” type, you will need to subscribe to the RSS feed and have to come back to read the rest of the series on Social Marketing Changes Everything Part 2 – 5. I can’t fit all of the explanation into the a single post. This multi-part series will provide information on social marketing and answer the following questions:

  • What is Social Marketing? (I can already hear, not another buzz word…. but think about my Web Marketing reference above)
  • Why is a new definition required beyond Social Media, Social Networking, Social CRM, or Web 2.0 Marketing? (gotcha there)
  • So what? Why should I  worry about this? Hint: Revenue Generation and Customer Referrals (I assumed this would be important to you)
  • What does a Social Marketing strategy look like?
  • What does a Social Marketing Roadmap look like for this?
  • How do I leverage what I am already doing?
  • How do I build a Social Marketing Business Case?
  • How do I measure Social Marketing?

Now that I got the major questions out of the way, let move next into the definitions;

Social Marketing – The re-orientation of traditional marketing to reflect the new post-digital,  network relationship oriented, and influencer-driven social interactions. Social Marketing leverages a multi-channel, multi-directional approach towards building relationships with a transition away from the structured marketing roles like; product management, marketing communications, PR, Channel Mktg, & sales support. Instead, marketing is reoriented around enabling the key interactions that support the awareness, influence, interest, buying, and referral processes. ( it is a mouthful, but I am working on getting it down to one simple sentence. Give me your thoughts and I will incorporate in my next post)

Social Media – Basically, you have the social networks that you participate and the online communities that you own which are built into your corporate website. See my post on Social Media is Like Fishing for more details.

Online Communities – communities of interest built upon a foundation of Web 2.0 social networking tools; profile, blog, wiki, social bookmarking, calendaring, media sharing, etc that enable the user to interact with other users and content through the website. See my post on Online Community Blueprint for more details.

Post-Digital – If everything is becoming digital, why does digital matter? The buyer doesn’t really care if the interaction is on the web, they just want to get what they need. A lot of marketing still segments online and offline which creates an artificial barrier to developing a seamless customer experience. Social Media is changing buyer behavior, coming more fluid, and marketing must adjust the model to to support the reflected changes. See my post on the Changing Role of the CMO for further explanation.

The next part of the series will explore a new model for thinking about reorienting marketing towards interactions.

Part 2 – Theory

Part 3 – Business Case

Corporate Social Media Roadmap

One of my contacts on Twitter posted a reply back that “Social Media is a Fad”. I have been thinking about that for the last couple of days. There is a tremendous amount of momentum around leveraging social media for business. This isn’t the first time that I have heard this in the last several months, but I guess perception is reality.

So, to that end, I have outlined a social media roadmap for those who are trying to “figure out” if the hype will lead to something real. I have been around enough to have seen this conversation a few times; websites, ecommerce, web applications, and now social media. This simple roadmap is targeted to those who want to do something, but are having a hard time presenting a business case, especially in this economy.

Social Media “Crawl”

  • Make sure your team has a complete profile on Linkedin –It would be nice if they were on Plaxo, Facebook, Twitter, etc.; but make sure that the profiles are complete and up-to-date; including past roles. For a lot of potential buyers, awareness of your company comes through an employee’s profile. Make sure they have a good impression.
  • Make sure that everyone has the same basic description– For the company, links to the various pages on the website (including one to careers). Also, make sure there is consistency in the company name (ie. Abbreviations, LLC on the end, Website name, etc)
  • Create a social media policy for employees– There is a fine line between personal and private. Social media can blur that line, especially on Facebook with pictures. Make sure that policy also includes connections to partners, vendors, customers, and other employees. I am not recommending that you curtail their ability to interact with online relationships, but make sure there is protection for the company.

Social Media “Walk”

  • Inventory Corporate Online Relationship Networks – You will be amazed at who your team is connected and no one else knew it. “I needed someone who could do this” or “We need an introduction to X”.
  • Identify who or which companies are missing – a key to successful networking is getting outside your own network. A lot of times it is the 3rd degree relationships that can produce the greatest opportunities.
  • Run a networking program for employees – Sales people and Executives generally know how to network, but the vast majority of employees don’t. But, they represent the vast majority or potential introductions as they had lives and experiences prior to joining the company.
  • Build an Online Relationship Campaign– This isn’t going out and collecting 25,000 random twitter followers, but building online relationships (across multiple social media sites) with the key influencers, bloggers, buyers, vendors, and participants in your industry. If the saying is “Sell where the customer is…” ; you need to start a program of connecting to them online.
  • Start an enterprise blog on your website– designate a team approach to creating an online thought leadership center for your company. Tie your blog updates to your social media participation. I update my Linkedin, Twitter, & Facebook every time I create a new post. It provides content and value for your connections; at the same time, creates a call to action for your website.
  • Cross Pollinate Your Traditional Marketing Database with your Social Media Contacts– I add all of the new contacts that I meet into my Linkedin and other social media accounts. Social CRM is becoming the new “hot” thing as companies are trying to manage the multiple (potential) customer communication channels.
  • Multi-Channel Marketing now Includes Social Media– I have been integrating my social media contacts into an email campaign list that I send my weekly blog digest. I have gotten a tremendous boost to my blog traffic by integrating email, social media, and traditional networking. A multi-channel, integrated approach allows you to reach the potential customer where and how they want to communicate. Especially with our busy schedule and email overload, don’t assume because they did not repsond that they are not interested. They may not have really “seen” the message.
  • Be Respectful– don’t SPAM your social contacts with random messages. Make sure that what you send them provides value to your network. They may not want to buy, but they will respect your attempt at providing value to the relationship and credentialing your thought leadership.

Social Media “Run”

  • Building your own online community into your corporate website – Use social media components to create a more compelling interaction on your website. Also, this provides great search engine optimization, thought leadership, differentiation, lead qualification, customer experience management, etc.
  • Build public, semi-private, and private group areas in your community– Provide value without a login through public groups, but encourage them to sign up (membership) to see a lot more. The private group areas are then used to continue the sales pursuit and provide individualized customer support.
  • Integrate your community with your marketing and sales activities– By integrating your online community, you provide a call-to-action for your outbound sales and marketing efforts. Also, this allows you to leverage your corporate website more effectively during the transition from marketing awareness and interest to sales process and lead management.
  • Integrate your community with Social Networking sites– Google, Facebook, and Linkedin all have member APIs that allow someone to use their membership in third-party communities. This removes one major obstacle for people to participate; the dreaded sign-up.
  • Integrate your community with your Enterprise Systems– Integrating your existing content and data with your online community is important because it allows you to leverage the investment in your existing CRM, ECM, etc. systems more effectively.
  • Leverage Web Analytics and Lead Scoring –An online community provides a trememdous amount of interaction data that can be measured, scored, and utlized for lead qualification.

Social Media “Sprint”

  • Integrate your business processes with your online community – Customizing the interactions of the community for your business processes; customer experience management, sales support, Call-center, project delivery, supply chain, partner management, etc. This means that different audiences interact within the community, but have personalized experiences based upon their roles and goals. I serve up a different forecasting dashboard in the Product Management Group versus the Sales Group.
  • Reimagining your Information Architecture– Some of the leading organizations are rethinking the traditional ideas around organizational Intellectual Property. They are begining to build flexible information architectures whereby the “community” is really the presentation layer for their corporate systems. They build interfaces as “application mashups”. Your access to information and applications is based upon just-in-time rights management. If I am working on a project, I get invited to the project group that has all of the project history, notes, documents, and applications that I need to interact with the project team. This also then is extended outside the organization to partners and customers. The enterprise is no longer a “castle” with a moat and a drawbridge, but a modern city with buildings, doors, locks, security systems, etc. This allows for more effecient business scalability.

At the end of the day, I don’t see social media as a fad. I think the hype factor will dimish along with the effectiveness some of the early adopters have been able to drive, but I see online social interaction as the next logical step in the evolution of the web and business.