Published on February 19, 2014
L E A D E R NETWORKS Social Media Strategy Roadmap Social Business Planning for B2B Organization Vanessa DiMauro, CEO Leader Networks Copyright © 2014 Leader Networks, LLC 1
L E A D E R NETWORKS About Vanessa DiMauro CEO & Founder of Leader Networks Leader Networks is a highly specialized research and consulting firm focused on helping organizations build deeper relationships with key stakeholders, thus creating significant competitive advantage and outstanding business results. We produce strategic planning and business alignment for B2B social business and online communities. In a nutshell: • • • • Founded and run profitable B2B online communities – 20 years experience. Clients include F1000 and Blue Chip companies, many have won prestigious awards for our work together. Ongoing research agenda – download our research and templates from http://www.leadernetworks.com. Research and client success stories have been published and covered by leading publications such as the The New York Times, the Wall Street Journal, Forbes.com and CIO Magazine. Copyright © 2014 Leader Networks, LLC 2
L E A D E R NETWORKS Agenda • Overview Of Social Branding For B2B • Social Business Behavioral Evolution • Developing A Social Strategy – Roadmap with mini-cases – – – – Develop strategy Validate model Pilot Operational integration • Guiding Principles Copyright © 2014 Leader Networks, LLC 3
L E A D E R NETWORKS Why Believe Me? Copyright © 2014 Leader Networks, LLC 4
L E A D E R NETWORKS Social Branding Explained Social Branding is….. The persistent act of connecting key stakeholders* to each other and to the organization using social applications and approaches resulting in improved business processes and greater competitive advantage. * (prospective and current customers, influencers, partners, suppliers, employees Copyright © 2014 Leader Networks, LLC 5
L E A D E R NETWORKS Social Branding Explained In Pictures The past 3+ years: digital shout A new, better way: social business Social branding has evolved to become social business Copyright © 2014 Leader Networks, LLC 6
L E A D E R NETWORKS And The Growing Need Is Driven By A Changing World • Competition is truly global • Competing solely on price against offshore firms is a losing game • Customers’ problems are far more complex • Customers need much more help to fulfill their business mandates • Innovative products have become table stakes • Companies need to understand customers’ changing needs much faster and better and partners’ & suppliers ability to service them • Company missteps become known quickly via social media • Lack of sophistication in social media is starting to hurt Copyright © 2014 Leader Networks, LLC 7
L E A D E R NETWORKS Social Business Changes Business As Usual.. For The Better Extend accelerate product & services delivery Deepen client relationship s Build greater brand equity Social Capital Deliver improved financial returns Copyright © 2014 Leader Networks, LLC In-person + online Shorten product innovation cycle Provide better customer care 8
L E A D E R NETWORKS Social Business Behavioral Framework “Socially Present” Focus Design for marketing presence on the social channel to communicate information and ideas online and drive awareness. “Socially Integrated” Design for leveraging information and relationships gathered through social efforts in support of key business functions. “Socially Familiar” “Socially Enabled” Design for learning about cause and effect online. “If I do this, then that will happen….” Design for operational scale and efficiencies using social the centerpiece of most customerfacing efforts. - Organizational Complexity + Source: The Social Business Benchmark Study – 2013 Preliminary Findings, Leader Networks LLC co-launched with the Society for New Communications Research Copyright © 2014 Leader Networks, LLC 9
L E A D E R NETWORKS Finding The Starting Line: A Social Business Roadmap 1. Strategy Development 3. Pilot Initiatives 2. Model Validation Copyright © 2014 Leader Networks, LLC 4. Operational Integration 10
L E A D E R NETWORKS Developing A Strategy Questions Where to look for answers What are we trying to accomplish? Create leadership roundtable to vision – Sales, marketing, operations need to come together. Which stakeholders are we looking to engage with? Define reachable narrow audience first, than plan for scale. What is the business case? Develop If/Then statements to identify value drivers for the business. Which business processes will be enhanced? How? Examine current offline initiatives and seek for ways that social can accelerate the processes. How does this initiative align with our strategic objectives? Social strategy must support or enhance larger organizational strategy to be fruitful. Who you seek to engage with will dictation the approach, platform and goals! Copyright © 2014 Leader Networks, LLC 11
L E A D E R NETWORKS Understanding Stakeholder Values And Identifying How Social Helps Deliver On The Promise What do customers value? How can social advance the agenda? (Be specific) 1. Easy to do business with 2. Ability to co-create products 3. Clear communication 4. Access to developers or thought leaders 5. More…. Surface 1-3 strategic initiatives (increase stakeholder value or increase customer value proposition) and identify how social business can help advance the goals. Seek programs that drive top-line growth. Copyright © 2014 Leader Networks, LLC 12
L E A D E R NETWORKS • They sought to help practitioners of the Balanced Scorecard share knowledge and experience • Increase customer intimacy and raise awareness of products and services • Tap into leading trends in strategy execution • Create a new revenue-generating service line for Palladium Group Many offerings means many markets Their audience is elusive – CSOs and CRO of top companies globally Question Palladium Group is a consulting and conference firm whose founders invented the Balanced Scorecard measurement system (Robert Kaplan and David Norton) How can the company apply strategy best practices to examine the opportunity for social business leverage? • Developed strategy at the C-suite level • Created potential, varied revenue models Solution Complications Situation Example: Building The Case For Social • Vetted model with customers and partners • Identified internal thought-leaders to lead the charter. • Beta tested with 500 strategy practitioners before launch. Their consultancy focused on a high-touch model, but scale was an barrier. Copyright © 2014 Leader Networks, LLC 13
L E A D E R NETWORKS Palladium Group XPC – What Happened Since Inception? • Launched a global online community with more than 50% of the membership from non-US countries, deepening Palladium’s market reach • Membership from over 3,600 organizations worldwide • Drives conference attendance, consulting projects and publishing arm of Palladium • Revenue-generating in first 6 months (subscriptions, partner programs) • Over 15% of new members come from peer referrals • Numerous private working groups (e.g. KPI library for Risk Professionals) Copyright © 2014 Leader Networks, LLC 14
L E A D E R NETWORKS Validating The Strategy and Managing Risk Questions Where to look for answers How can we test our hypothesis before making a significant investment? Speak with or survey a set of customers or partners about what they want or need more of from your company, and from their peer-relationships What do we have to offer? Thought leadership? Assets, answers to product questions, access to executives? Define your “give” with equal gusto as your take. How do we mitigate risk? Starting with the target audience, select one area for social branding focus run an early experiment with defined goals & KPIs. Develop governance progresses early and often. Test, document, learn, evolve, scale Copyright © 2014 Leader Networks, LLC 15
L E A D E R NETWORKS A large industry association sought to use the social channels to engage on hot topics like genetically modified food and artificial sweeteners for business gain. Question Situation Example: Validation (Measure Twice, Build Once) They wanted a federated strategy and not a random collection of social efforts. Thorough validation effort to surface best practices: • Key stakeholder needs assessment Different groups involved in various social approaches. Copyright © 2014 Leader Networks, LLC • Broad-based survey Solution Complications Need to understand best-in-breed and standardize for greatest returns. Through ongoing experimentation, they had developed a number of social approaches, each one with a unique strategy and discrete, un-related metrics. How can they learn from their experiments to reduce overhead and increase efficacy according to clear business goals? • Research-driven examination of current social approaches • Competitive analysis All enabled them to refine and streamline their social strategy, reduce staffing redundancies, IT costs, and set a clear path to parallel ROI metrics. Refined offerings and 25% of original plans were refined. 16
L E A D E R NETWORKS Launching Pilot Programs Questions Where to look for answers Who should we “be” online? Define your online voice before starting and align it with your existing, offline brand. What is the right platform for social branding? Drive technology choices with business goals. Go to where your audience & convene on your site. Teams work. Identify staffing needs in accordance with the business goals. E.g. If customer care is goal, then customer service staff are best. • Seek internal and external thought leaders. • Be prepared to train and educate for best practices. Don’t default to the millennial just because they have a twitter account. Who should run social (Staffing)? Test, document, learn, evolve, scale Copyright © 2014 Leader Networks, LLC 17
L E A D E R NETWORKS Question Customer Intimacy is core and central to how a B2B storage company sells and conducts business: • Strong reputation for excellent customer service • Offers superior products and services to the market • Strong culture that reinforces and rewards customer intimacy • Desires a larger share of voice and thought leadership position in the market Scale, audience reach and persistent engagement currently place a burden on staff: • Clients are not aware of all they has to offer • Entering a new market with recent acquisition s • No digital “channel” to support customers and partners Copyright © 2014 Leader Networks, LLC How can they improve its customer & partner engagement model and enhance its thought leadership platform to reduce costs and increase revenues? Developed a social business strategy pilot that is currently running • Develop / refine the business case Solution Complications Situation Case Example – Pilot to Learn and Grow • Market test to validate customer need and assumptions as well as functional and content requirements • Bring partners deeper into the conversation • Identify select business processes to use the social insights to accelerate efficiencies (learn and grow) • Potential to leverage the online customer community as a best practice to inform 18
L E A D E R NETWORKS Potential Scenario – Continuous Product Enhancement 3 1 Product Development 5 Product Roadmap Social Business Team 2 3 New Features Current Process 4 Problems / Issues 4 1. Product Development collaborates with Social Business team to: - Discuss the current process for identifying problems / issues and new features including off-line venues (e.g. customer service, customer advisory councils / boards) - Establish guidelines and process for incorporating insights gathered from the online community initiative 2. Measures of success (e.g. business metrics) are established for identifying problem issues (e.g. quantity, quality) and new features (e.g. quantity, quality) 3. Insights are gathered by Social Business team, per previously agreed upon guidelines, through discussions, polls, surveys, etc. 4. These are then forwarded to Product Development for evaluation and potentially incorporated into the product roadmap 5. Product Development provides feedback to the membership and outlines next steps Copyright © 2014 Leader Networks, LLC 19
L E A D E R NETWORKS Building A Social Pilot business goals: What is the anticipated business goal or concept being tested? Audience: Who you want to engage? Timeframe: How long do you think the initiative will take? Milestones: What mini successes do you hope for along the way? Evolve Create Measure Participate Lead Copyright © 2014 Leader Networks, LLC 20
L E A D E R NETWORKS Operational Impact Questions Where to look for answers How will we measure success? Develop business-focused metrics, leading and lagging indicators. How can we carry the social insights through to make an operational impact? Identify 1-3 business processes to be improved through social business. Solicit and secure buy-in and support for a beta project with 1 business process. Document current examples of the ways community positively impacts operations (e.g. marketing or sales). Provide roadmap of operational process improvements over time. How will we meet expectations on an on-going basis? Copyright © 2014 Leader Networks, LLC Develop programs for scale – editorial calendars, engagement strategies and programs, integrate social into existing offline activities (e.g. events, publications, website). 21
L E A D E R NETWORKS What’s The Big Deal About Measuring Success? Source: Social Business: What Are Companies Really Doing? MIT Sloan Management Review, Research Report 2012 (in collaboration with Deloitte), by David Kiron, Doug Palmer, Anh Nguyen Phillips, Nina Kruschwitz Source: Social Business: Shifting Out of First Gear MIT Sloan Management Review, Research Report 2013 (in collaboration with Deloitte University Press), by David Kiron, Doug Palmer, Anh Nguyen Phillips, Robert Berkman Copyright © 2014 Leader Networks, LLC 22
L E A D E R NETWORKS While Social Business Performance Measurement Is In Place, It Is Often Disconnected From Strategic Objectives Source: The Social Business Benchmark Study – 2013 Preliminary Findings Leader Networks, LLC (co-launched with the Society for New Communications Research - SNCR) Copyright © 2014 Leader Networks, LLC 23
L E A D E R NETWORKS Sample Operational Integration Points For Social Business Example Success Measure Raise awareness of products or services Visibility of company, products, services or thought leaders Increase sales Event attendance Customer questions about how to use a product or service Learn from Customers (e.g. feedback into product development) Customer retention / satisfaction Call center reduction / Improve customer’s ability to get help from each other Increase utilization of the products Shared Accountability Marketing Marketing Sales Marketing Customer Service Product Management / R&D Sales Customer Service Product Management Source: Leader Networks Blog “Social Media Manager vs. Online Community Manager: Same or Different?” September 2012 Copyright © 2014 Leader Networks, LLC 24
L E A D E R NETWORKS Social Business Metrics Should Be Aligned With Business / Functional Unit And Corporate Objectives Corporate Objectives Business / Functional Unit Objectives – Financial – Customer – Process – Learning & Growth Online Community Initiative (Business Case / ROI) Current Target Outcome Delta / ROI Performance Metrics Engagement Metrics Business Metrics Copyright © 2014 Leader Networks, LLC 25
L E A D E R NETWORKS Social = A Business Process Redesign for Online Collaboration Strapping new tools onto an old process won’t yield the desired results Copyright © 2014 Leader Networks, LLC 26
L E A D E R NETWORKS Guiding Principals For Successful Social Business • It is important to integrate interactivity into the business model – Companies need to examine how to bring interactivity into their business models in ways that serve the business and the customer goals alike. – People’s expectations are changing.. They no longer want to be passive recipients of information and experiences. • The human process & trust factor can not be overlooked – • Create programs with beginnings, middles and possibly ends – • Determine the goals, measure returns , revise and evolve Communicate across departments – – • What works in the face world will work in an online environment Share information, findings, efforts, plans. involve legal and IT- before you act online Build relationships & be valuable – Connect people with each other and with insights Copyright © 2014 Leader Networks, LLC 27
L E A D E R NETWORKS Copyright © 2014 Leader Networks, LLC 28
L E A D E R NETWORKS Get In Touch Questions, comments and keeping the conversation going… Vanessa DiMauro CEO, Leader Networks 617 484 0778 firstname.lastname@example.org www.leadernetworks.com http://www.linkedin.com/in/vanessadimauro @vdimauro Copyright © 2014 Leader Networks, LLC 29
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