Brands on social media outgrow their peers. The rise of adblockers shows that we are moving away from the age of broadcast and to an engagement era.
Stats show that social media has a role to play, but it does not take a seat near the boardroom. Some brands do have a Chief Community Officer.
What are we doing wrong ? It’s about money and understanding the value that social media has, having a robust ROI model.
How not to build a social media ROI model
Focusing on ONE business goal. Think about other areas of the business that can get value from social media, not just sales.
Building it on your own social growth agenda
Sometimes that agenda does not match the business needs, you are building it on isolation. Talk to customer support, product development, operations, etc.
Forgetting that social data is a goldmine
It’s an open black book about your competitors, partners and customers.
What other challenges do other departments face and how can we help them with this data?
The 4 S of social media ROI
Sales
Marriage between a brand experience and a commerce opportunity
Service
Customer service leads to better post sale experience, better customer experience all around and quicker resolution of issues.
Savings
Smarts
1. Know thyself and know thy product
- Business strategy
- Brand and marketing
- Product
- R&D
- Customer Service
- Leadership
Competitive insight
- Messaging and sentiment
- Audience demographics & affinities
- Influencer and customer support
Product insight
- Facebook groups
- Linkedin groups
- Online forums
- Customer focus groups
Giff gaff they are centred around an online community. In face of a business challenge due to the rise of nano SIMs, the community step up to help them.
Their responses on community ideas is very transparent. As a result their NPS score rivals Apple.
Market intelligence
- Analyse and respond to complex specialist & consumer markets
- Influence your content creation
- Influence your website’s SEO keyword strategy
2. Track the whole journey
- Marketing
- Sales
- Retail
- Customer Service
Journey metrics
- Join the right dots
- Be wary of vanity metrics
- UTM links & GTM
- Digital Journey (Salesforce integration)
Social Is not just about brand awareness. People want you to stop bombarding them with ads, that’s why adblockers are on the rise.
CRO: Conversion rate optimization
Funnels don’t work, it’s now about the customer journey and that is different for every business.
Omnichannel
- Marketing and analytics teams
- Retail teams
- OOH & Mobile data providers
- Trackable links
An interesting example is IKEA’s use of social to drive action. They used geofenced facebook ads and matched the message to the customer journey.
Delight your customer
CRM tools can provide you with a lot of quality information, not just hard numbers. It will allow your community manager to tailor the conversation with each user.
3. Real time advocacy
- Marketing
- Sales
- Leadership
4. Drive cost savings
Custom audiences
- CRM customer service
- Competitor audiences
Phantom buster
Social recruitment using a micro influencer strategy
