Demonstrating Social Media Value To Your CFO

It’s been a while since writing a post – sorry for that.   I became a Mum for the first time in December 2011 and it came as a bit of a shock to the system.

Anyway, back to business.  Next week I will be presenting at the B2B Social Media Marketing Summit in London.  The title I was given to work on?  ”Convincing the CFO that B2B Social Media can be a profit center rather than a cost drain”.

To be honest, if I knew the answer to that statement I would be sat on a tropical island somewhere sipping a cocktail.  So, here’s my attempt at addressing the statement.  I’m sharing my ideas here in the hope that after reading you’ll leave some input and ideas.  Here are my key points:

1. I don’t believe social media will ever be a profit center in its own right, as the title suggests, so instead let’s focus on demonstrating the value that social media brings to the business
2. “What’s the ROI of social media?” is the wrong question.  That’s like asking what the ROI of my dishwasher is.  It saves me time.  It cleans my dishes.  It’s easy for me to use.  Hard to put a measure on that.  Instead ask what the value of social media is in the context of a specific activity e.g. How does social media reduce our service support calls?  How does social media reduce the cost of recruitment?
3. The CFO cares about margin, shareholder value, assets (including brand) and bottom line amongst other things.  Don’t go showing him/her how you increased Facebook followers by 10%.  Use a language he/she understands and relate it back to the business
4. Social media stretches beyond lead generation.  It impacts product innovation, recruitment, employee productivity, brand building to name just a few.  Keep an open mind.

So, what do you think?  Agree?  Disagree?  How do you demonstrate social media value to your CFO?

I’m happy to reference you in the presentation next week if you have some feedback.

By the way, if you’re in the UK there are few places left at the conference if you fancy joining companies like Siemens, Dell, 3M, BT etc.  I love these events because it’s such a fantastic opportunity to exchange ideas on how to navigate the increasingly complex world of social media marketing for B2B organisations.

 

Does Social Sell?

A couple of weeks ago I attended a conference titled “Does Social Sell” hosted by digital agency Mindshare in London.  It’s always great to take the time to meet your peers in other organisations to exchange ideas, experiences and challenges.   Mindshare invited speakers from Google+, Microsoft and YouTube to talk about the future of digital marketing.  A particular favourite of mine was Carrie Longton, co-founder of community site Mumsnet.  Given that I’m 8 months pregnant I’ve become a pretty frequent visitor of the site so naturally it was pretty interesting!

Here’s a brief summary of the sessions I sat through during the day:

Mumsnet:

It was absolutely apparent that the team at Mumsnet know their community inside out – in fact Carrie said up front that ”the community drives everything we do” and not necessarily commercial opportunity.  She described how mothers today are educated and opinionated who use social networking extensively to engage with each other.  The “modern mummy” is no longer a ‘housewife’ but someone who networks, shares, discusses and works!

What impressed me the most was the passion and focus on the Mumsnet community.  Understanding the behaviour of the community is paramount including what the community likes, doesn’t like, how they wanted to communicate and their relationship with brands that engage on the site.

Knowing your community this well is surely something that the B2B industry can learn from.  Less focus on trying to understand which social tactics can support specific marketing campaigns and more focus on nurturing a community for long-term dialogue.  I guess all the time B2B marketers are measured on short term metrics e.g. leads, this will never change.

Microsoft Xbox Live:

Well, if this presentation didn’t kick me in touch I don’t know what would have done.  Here I was thinking Xbox was still primarily a gaming console and then I realise that Microsoft’s ambition is to become the next social network!  Think Facebook.  Think Google+.  Over 40% of Xbox usage is non-gaming these days.  There are currently 35M Xbox users sending over 6M social messages a day via this platform.

It’s not quite on the scale of Facebook yet but this entertainment system takes a different approach to traditional social sites because of its integration with film, television, internet gaming, kinect interaction, video conferencing and now social networking – all voice activated from your sofa!  It’s pretty incredible to think where this might go for consumer marketing in the future.

Whilst this video didn’t have anything to do with the Xbox Live talk it did stick in my mind and I wanted to share it with you – how Jay-Z used Bing to promote his new book.

 

Google+:

Like most people, I’ve set up my account on Google+ but I do feel it’s only as successful as where your network hang out and unfortunately most of my network is still active on Facebook.  That said, Google have big plans for brands using Google+ as a way of connecting employees together for internal collaboration not to mention a way to build communities with customers and influencers.  Watch out Jive Software and SharePoint!

They don’t give too much away but the power of Google Search, their relatively new +1 feature, Gmail and their already highly successful analytics suite will set to challenge other networks that also try to attract brands including LinkedIn and Facebook.  Core to Google’s strategy is privacy – something that Facebook has never really handled too well.  Unfortunately I can’t find the video they shared during the event where they showed the functionality at work.  Apparently it’s all “coming soon”!

Thanks to Mindshare for organising the day, to Google for the delicious cupcakes and to my peers at Ford, TKMaxx and Cybher for exchanging ideas and experiences!

Have A Social Summer: Tips For Facebook

Okay – the summer may be coming to a close in most European countries but I’m still going to write-up my “SAP Social Summer Series”.  Every week throughout July and August I hosted webinars for employees wishing to learn more about social media and networking techniques.  Here I’ll summarise the Facebook session.  Most people know Facebook pretty well so I won’t dwell on this post for too long.

I’ve noticed that many countries in Europe still consider Facebook a tool for personal networking with families and friends.  In the US it seems much more acceptable to use Facebook for B2B marketing.  I suspect in the next couple of years Europe will follow suit.

The Impact Of Google+

Everyone has their own thoughts and opinions on Google+.  I found a couple of good resources online outlining the key differences.  Correct me if I’m wrong but I understand the following:

• On Google+ it’s possible to receive someones updates without sharing your own.  Facebook is mutual connectivity
• Custom publishing is made easier using the Google Circles approach so you can publish certain posts to certain ‘circles’ of friends
• Google+ is open to Google search engine (not surprisingly) whereas Facebook is pretty closed to search engines.

Facebook Privacy:

Check your settings in Facebook regularly.  They have a nasty habit of changing things without telling you they’ve done so and it often catches people unprepared.  If you really want to lock it down set everything to “Friends Only” otherwise just make sure you check regularly

Customise Your Account:

This is where you do all your housework – update your ID, email, passwords, payments, link it to your mobile so you can SMS your posts and you can change your language.  Try English Pirate for fun – I challenge you to last it out for 24 hours.  I lasted 10 minutes.

Uploading Content:

It’s worth noting that anything you publish to Facebook becomes the property of Facebook and therefore difficult to share outside of your network.  This includes photos and videos.  This is why many folks use tools like Flickr for photos and YouTube to host videos – then they share the links in Facebook

Facebook Places:

Facebook Places is a great little app if you’re out and about.  Use Facebook on your mobile to locate places near to where you are and then you can “check-in”.  Retail organisations such as Starbucks use this a lot to issue discount coupons or special offers.

Etiquette:

There aren’t any written rules to Facebook but it’s probably best that you consider some of the following points:

• Don’t over publish – people don’t like their Facebook stream to be spammed by several updates at a time
• Don’t tag friends in “Un-glam” photos
• Be mindful of tonality - you may be angry when you’re punching your post into the keyboard but take two seconds to think how this may impact your personal brand
• Invite people you know

Have A Social Summer: Tips For LinkedIn

As outlined previously on this blog, I’m running a Social Summer program for SAP employees who want to learn more about social networking and how to get the best out of it.  At the same time I’m introducing them to some of the SAP social channels and our policies around participation.  This weeks session was about LinkedIn – the starting place for your professional brand.  However, very few people use LinkedIn to its full potential.  My view is simple.  Your network is a treasure trove - highly valuable.  It’s a source of advice, support and sometimes your next career move.  The power of networking should never be underestimated.

Here I’ll share with you just some of the tips I covered during the session.

Your Current Network:  Okay, this is more for fun but try it.  InMaps from LinkedIn labs allows you to visualise your network.  It’s very interesting and allows you to identify clusters of connections and help you identify areas where you might want to focus on going forward.

Create Your Profile:  The least you can do to optimise your professional brand is to spend a little time tweaking your profile.  Copying and pasting your CV is not enough.  If you intend to actively build a network spend time on stage 1 (thinking about your brand) and at the very least complete the following sections:

• Photo:  It’s social media so let people see who you are…keep it professional.
• Summary:  Add a couple of paragraphs to summarise what makes you different
• Specialities:  Use lots of keywords to describe your skills – be searchable on Google
• Vanity URL:  By default LinkedIn will give you numbers and letters.  Personalise it!
• Add Apps:  If you have a blog then be sure to integrate it using Applications
• Twitter Link:  Update your status automatically but use #in so you don’t spam your network
• Get Recommended:  It will help to complete your profile to 100%

Build Your Network:  Most folks stop at stage 2 but successful networkers will take time to build and nurture networks.  You know more people than you think.  Start with your colleagues, then add your ex-colleagues, then connect to your customers and partners (if you’re in sales).  Get your network to an established state and then make it a habit every Friday to update it with new contacts:

• Social Connector:  Use tools like LinkedIn for Outlook to invite people from your inbox
• Mobile Invitations:  Download LinkedIn for mobiles and iPhones – invite after your meeting
• Groups:  Grow your network outside of your ‘immediate circle’ – join groups & contribute

Engage Your Network:  The trick here is not to connect and forget.  It’s like those people you know who only ring you when you want something.  Take time to engage your network and stay front of mind.  I don’t mean spam them but just be helpful.  If you read something that you think might be of value to your network or part of your network, take the time to send it on with a note saying “saw this and thought of you!”  It’s highly appreciated.

• Status Updates:  Be valuable…share a blog post, news article, report, research
• Targeted Email:  If you have something specific, compose a message and target it

Derive Value From Your Network:  It takes time to get to this stage because you need to have built a good network, nurtured strong relationships and established credibility but once you have done this, you can start to ask for favours.  Only do this if you have a strong connection.

• Referral:  Ask for an introduction but don’t forget to add value – not just a sales introduction
• Recommendation:  Don’t be shy – your future network will be interested in you as a person!
• Advanced Search:  Great if you’re in sales – dig deeper into your network and connections

Any other tips to share?

How Hilton Hotels Transformed My Customer Experience…Via Twitter!

I work in social media every day so I get to see all the examples of what works and what doesn’t all the time but yesterday I had first hand experience of what a truly social organisation is all about.  I’ve just spent two days at the IQPC CMO Exchange conference in London.  Yesterday I took part in a panel discussion with Rebecca Jones, Head of Marketing Planning at BBC Worldwide, and Yann Gourvennec, Director of  Web Digital Media & Social Media at Orange Group.  The whole conference took place in the Hilton Tower Bridge hotel which is a really stylish venue should you be looking for a place to stay in London. 

That said, their wi-fi policy needs some work.  They charge you once for wi-fi in your room using iBahn as the operator and then again if you want to use it downstairs in the conference facilities where they have another supplier BT OpenZone.  As a guest, I thought this was pretty crazy.  I don’t want to pay twice to use the wi-fi in one location!  It should work across the hotel.

I approached reception to complain.  They apologised and offered me a 90 minute voucher as compensation.  I needed access for the whole day and I had already paid for it!  I don’t blame the receptionist.  She wasn’t empowered to do anything more. 

So what would any social nut with something to say do?  Turn to Twitter.

At 11:38 UK time I tweeted that I was unimpressed with the service.

Hilton’s social media team picked this up and within 1 hour I had a support ticket number and an email from Terence in the US telling me that they’ve contacted the local management team to address this immediately. 

By 14:00 in the afternoon when I went to check-out the wi-fi charge had been removed from my bill and I had an email from both the Hilton Tower Bridge management apologising for the disappointment and another from Terence checking if everything had been resolved to my satisfaction. 

How cool is that?    Now it doesn’t resolve the issue (so I hope they take the feedback and sort it out because it still is a little crazy asking guests to pay twice) but I’m left super impressed at the response rate at which Hilton ‘heard’ me and responded.   Well done Hilton Hotels!

Tribal Tip:  Listen to what’s being said about your brand on Twitter and respond accordingly.  Don’t ignore it.

As an aside, Grecotel Resorts (@GrecotelResorts) obviously didn’t hear my tweet about having a bath tub without taps at the Sounio resort in Greece…most bizarre considering their supposed to be a luxury spa brand!

Why Social Media Isn’t Just Another Marketing Tactic

It seems the whole discussion around the term “social business” is heating up these days.  Everyone seems to be talking about it but I don’t believe it’s such a new concept – we’ve just been distracted by the term “social media” for too long.  I’m a marketer turned social nut and I’ve always been trained to think in a ‘tactic’ mindset – integrating tactics so the marketing message is consistent and adds to brand impact.  Where marketers frequently go wrong when it comes to social media, in my experience, is treating is as another tactic on a checklist, adding a couple of tweets in amongst the emails, telemarketing calls and direct mailings. 

It’s not that simple. 

Social media is an enabler for a social business.  It’s turning marketing and business processes upside down.  It’s not about blasting messages far and wide hoping something will stick.  It’s about listening and engaging where prospects and customers are hanging out.  More importantly it’s about acting upon what’s heard.  It’s the place where ideas are born and exceptional service can be delivered!

This will be my message next week when I attend the IQPC CMO Exchange event in London where B2B and B2C organisations will be discussing the new “rules of engagement”.  I’m taking part in a panel discussion with Orange Group and BBC WorldWide to talk about the impact of social media on these rules and what organisations like SAP are doing to connect the brand more closely to the customer.  My views are closely aligned to some of the great posts that I’ve been reading just recently from some experts in the industry.  Here’s a summary.

First, this post from David Armano (@armano) who works for Edelman Digital.  He outlines what he believes are the Four Stages Of Social Business describing how organisations go from the Crawling stage where the focus is on building policies for employees and perhaps adding a few social tactics into the marketing mix.  The final stage is Flying where the whole organisation is social throughout listening to customers, asking them for input, building new products as a result, improving their services.  Social networking is integrated at every stage of the business. 

Second, this post from Jeremiah Owyang (@owyang).  Jeremiah as always been a strategic thinker and a well respected expert in this field.  In this recent talk he gave in Australia he addresses social business for regulated industries.  He’s a super speaker but if you don’t have time to watch it, be sure to flick through the accompanying slides where he talks about the stages of social business along with some fantastic examples from Dell, Intel and Red Cross.  If you’re really interested in why Dell is a super social business, this article goes into more detail. 

Finally, this post from Brian Solis (@briansolis) about the number one question that businesses forget to ask when it comes to social media…why?  I really like this post because Brian challenges businesses to think much broader about social media.  It’s not just about click-throughs and sentiment.  It’s how businesses listen to what the social customer saying and more importantly, doing something about it.  It’s about delivering exceptional experiences.  He lists 10 great questions a business should ask before embarking on social media.

Have A Social Summer: Build Your Social Brand Online

I’m just about to launch a pilot program for SAP EMEA employees called “Have A Social Summer”.  I’m running a series workshops over the summer months on the value of social networking – both for business for also for personal interest.  I’m also interviewing employees (Social SAPers) in a series of podcasts so peers across the whole organisation can share their experiences.  This is of course all being hosted on our internal social platform from Jive Software.  The objective of the program is to dispel myths, cover our policies as well as introducing them to the key networks and social etiquette. 

Companies like SAP are proud to have ‘experts’ working for them – it’s a way to share knowledge and be proud of employees and their diverse backgrounds and interests.    Tomorrow is the first session so I thought I’d give you a sneak peek on the agenda:

What Is Social Networking?  It’s a way of listening, sharing and engaging with people…some of whom you may never meet!  It’s not about pushing messages to audiences.  It’s about engaging them in conversation, interacting and collaborating.  It’s about operating within a community of people who share common interests.

How Is It Changing Business? It’s changing business in a couple of ways.  Prospects are coming into the lead cycle more well informed than ever before.  According to a MarketBridge webinar, prospects are 30% more likely to go to a user-generated website than they are to a vendor or analyst site.  They’re turning to their trusted networks for advice and recommendations and if they have a complaint, they no longer just tell their Account Manager – they tell the world!  Social media are transparent, viral and will stay online forever!

So How Does This Impact You And Your Brand?  We’re fast becoming a networked society.  A CV is no longer enough.  Your social brand is your new professional image and it’s a way to showcase your expertise.  In order to stand out from the crowd you must invest in your social image, build your networks and become a premium brand.  In a tough economy premium brands hold their value. 

So Where Do I Start?  Before diving in head first and setting up every social media account you can think of, make sure you do the ground work.  Follow these tips:

• Define Brand You:  You don’t need to meditate on a mountain for a week to decide what makes you different.  Just spend 30 minutes figuring out what makes you stand out.  Think about your experience, your interests, your passions, your niche.  Remember, this might not be directly related to your job!  I live in Norway and write a blog about the experience but I don’t work for VisitNorway.com.  Not yet anyway!
• Google Yourself:  I know it sounds vain but it’s a good initial measure of your social impact.  Google will pull from all kinds of social sources including LinkedIn.  Tap in your name and see where you rank. 
• Name Check Yourself:  Check to see if your brand name is available.  Most folks will use their name as their “personal brand” which makes sense.  Use a tool like
  http://namechk.com/
   to find out if your name is available as a URL or vanity URL on the most popular social media tools.
• Claim Your Brand Name:  Once you’ve figured out a brand name that is available, make sure you secure it starting with the .com address.  Whether you do anything with this web address or not is irrelevant at this point…just make sure you have it.   WHOIS is a great place to start.
• Discover Your Network:  There’s a handy little tool called InMaps for LinkedIn.  It will map your networks in a nice colourful picture to show how you’re connected with people and where your networks are strongest.  It’s fun to do but also gives you a good idea on where you need to focus on building.
• Start Listening:  Don’t launch any social accounts until you’ve started listening.  Once you’ve defined your brand in Step 1, start listening.  Social Listening is a much bigger topic but Google Alerts is a good place to start.  Start receiving updates on the topic you want to build a profile around.  Who else is talking about the topic?  What’s their angle?  How can you be different?