Connecting corporate objectives to social business strategy

Connecting your corporate objectives to an effective social business strategy

Presented by Jason Stoltz[Marketing Executive | Business Strategist | Brand

Architect | Communications Specialist]

Date of First Publish: 21 November 2013

Content Marketing &

Social Media ForumLeveraging Content & Social Media Analytics for Competitive Advantage

IntroductionWhat we need to accomplish in this session

Content Marketing & Social Media Forum

Social Business Strategy © Copyright Jason Stoltz 2013 4

Connecting your corporate objectives to an effective social business strategy

Conference Theme

Session Theme

IntroductionLook to the definitions

Corporate Goals are the Specific, Measurable, Attainable, Realistic, and Time-bound goals that an organisation plans to achieve in line with corporate strategy or vision


Social Media refers to the means (channels) of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks

SOURCE: http://en.wikipedia.org/wiki/Social_media

Content marketing is any marketing format that involves the creation and sharing of media and publishing content in order to acquire customers. This information can be presented in a variety of formats, including news, video, white papers, e-books, infographics, case studies, how-to guides, question and answer articles, photos, etc.

SOURCE: http://en.wikipedia.org/wiki/Content_marketing

Social Business Strategy refers to the deep integration of social media and social methodologies into the organisation to drive business impact

SOURCE: www.altimetergroup.com

Destination

Route

Vehicle

FUEL

http://en.wikipedia.org/wiki/Social_media

http://en.wikipedia.org/wiki/Content_marketing

http://www.altimetergoup.com/

IntroductionBusiness is Social – A glimpse into the future

http://www.youtube.com/watch?v=ujlfePzD77E


Salesforce is a cloud based CRM – the worlds #1 sales,

service and marketing application

http://www.youtube.com/watch?v=ujlfePzD77E

IntroductionPresentation Overview

Define Corporate Goals

Translate CG’s into Functional

Strategies (BU Level)

Research Social Media Platforms

Map SM Platforms to Functional

Strategies (Use Cases)

Consolidate Functional

Strategies by SM Platforms

Create & Define the Strategy Roadmap

ImplementMonitor, Evaluate &

Optimise

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56 4

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A practical guide to aligning social business strategy to corporate objectives

1. Define corporate goals [What do we want to achieve as a business?]

2. Translate CG’s into functional strategies [What strategies must our business units take to contribute toward achieving CG’s?]

3. Research SM platforms [What platforms / tools are available in the social space and where are our targeted audiences talking / engaging?]

4. Map SM Platforms to Functional Strategies [What are the top 3 platforms per functional strategy / use case?]

5. Consolidate functional strategies / use cases by SM platform [What are all the different goals at BU levels that we need to accomplish grouped by SM platform?]

6. Create & define the strategy roadmap [What content do we need to create, what financial & skill resources do we need to pull this off, how will it be governed, and how will it be measured? What are priorities?]

7. Implement 8. Monitor, evaluate & optimise [Have we achieved social

business transformation? Have we achieved corporate goal attainment?]

Social business influencing corporate

objectives & strategies


Define Corporate GoalsThe levels of strategy – Looking top down

Typical examples of corporate & business objectives

- Double the size of the business over the next 7 years- Increase turnover by 20% over 18 month incremental periods

- Increase profitability by % over time frame

- Grow asset base

- Expansion into specific regions

- Generic strategies (Cost leadership; Diversification; Focus)

- Increase customer repeat purchase & life-time value / customer retention due to increase in competition

- Improve operational efficiencies and increase output

Corporate StrategyThe business you should be in

Business StrategyThe tactics to beat the competition

Functional StrategyOperational methods used

INTERSECTION

Top Down

Bottom Up


Long term

Med term

Short term

Ensure effective communication of these goals & strategies filter to business unit and functional levels

PRACTICAL TIP

Social business influencing corporate objectives & strategies

Beware of disconnect











Optimise

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56 4

87Social business

influencing corporate



Aligning Corporate Objectives to SB StrategyA practical guide

Translate Corporate GoalsInto functional strategies at business unit level


- Understand your stakeholder base per strategy

- Which stakeholders are affected and what you need to say to them [*** Content considerations]

Corporate Goals Functional strategies / goals to achieve corporate goals

- Stop thinking operations for

a second & start thinking social – IN THE DIGITAL SPACE

- think engagement and ‘CONVERSATION’

- think about the relationships you need to foster to achieve these strategic objectives

PRACTICAL TIPS











Optimise

21 3

56 4

87Social business






Research Social Media PlatformsWhat categories and associated platforms are available for what kind of content?

The Conversation Prism (Solis & JESS3, 2013)

- Gain understanding of what categories of social / conversation platforms and tools are available

- Gain understanding of what the main (most common) platforms / tools are for desired categories

- Where are your target audiences engaging?

- Prioritise through a process of elimination

http://www.theconversationprism.com/

Don’t try to understand everything at depth!!!

PRACTICAL TIP

http://www.theconversationprism.com/











Optimise

21 3

56 4

87Social business





Map SM Platforms to Functional StrategiesWhat are the top SM platforms for each operational activity


Functional Strategies and operational activities Map Appropriate Social Business Tools / Platforms

Not every Functional strategy / operational activity needs a social

business element to it!!

PRACTICAL TIPS











Optimise

21 3

56 4

87Social business





Consolidate functional strategies by SM platformsCollect the operational activities per social business platform


Sales & Marketing

- Generate new business leads (InMails / PPC)

- Raise brand awareness (Thought Leadership / PPC)

- Reduce customer acquisition costs (Publish product Information in groups)

Human Resources

- Recruitment & on boarding

- Promote current skill & talent ownership

- Promote employer brand of choice (PPC / Groups)

Procurement

- Source cheaper supply (through professional networks)

Sales & Marketing

- Promote events


- Online reputation management

R&D

- Competitor research

- NPD research

Human Resources

- Staff vetting & background checks

Sales & Marketing

- Raise brand awareness (Thought Leadership)

- Reduce customer acquisition costs (Publish sales Information)

Human Resources

- Staff training

- Staff collaboration (sharing of presentation materials)

Human Resources

- Staff retention (communication)

- Staff training

- Staff collaboration

Human Resources

- Staff retention (Communications)

Sales & Marketing


- Reduce customer acquisition costs (Publish product reviews / how to guides

R&D

- NPD research

- Strategic research

Procurement

- Source cheaper supply

Identify social business tools / platforms that could / are to be used

by wider range of functional units and

PRIORITISE them

PRACTICAL TIPS

Stakeholder (target audience / community) driven content creation & sharing











Optimise

21 3

56 4

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Create & define the strategy road mapDocument the plan of action for content, resource and governance


Stakeholder (target audience / community) driven content creation & sharing

Content ResourcesGOVERNANCE

Establish Content requirements per SM platform drilling down to functional strategic goals

- Determine the type of content required (Copy / Imagery / Video) and level of re-purposing into different formats

- LISTEN

- Identify content contributors / champions

- Balance between internal UGC (user-generated content) and external content syndication

- ENGAGE

- Calendar development

- SHARE

Table the resources required to implement content strategy with detailed overview of expected EXPENDITURE

- Staff

- Pay peanuts get monkeys

- Gen Y NOT THE ANSWER

- Balance insource – outsource human capital

- Technology platforms to invest in - mapped to content types

- Support software (Photo editing / Video editing / Transcription)

- Hardware required (Cameras / Dictaphones)

- Platforms (LinkedIn & package selected – license fees)

Control policies- Content standards- Contributors- Editing & Publishing- Engagement guidelines- Metrics and benchmarksChange Management (New Implementations)- BIG BANG does NOT WORK- Stakeholder Buy-in- Train train train train train and

follow up

RESOURCES should be prioritised to the SM platforms that are going to achieve the most functional goals first! Don’t underestimate

the power of quick wins

PRACTICAL TIPS

EXECUTIVE BUY-IN











Optimise

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ImplementPut your plan to action


Considerations

- Make sure you are ready

- Get your hands dirty Mr. Executive

- Have the resources to keep it alive

- Empower stakeholders

http://www.youtube.com/watch?v=lQJYmIZiqho

Don’t let negatives go!Deal with issues

immediately as they arise

PRACTICAL TIP

http://www.youtube.com/watch?v=lQJYmIZiqho











Optimise

21 3

56 4

87Social business





Monitor, evaluate & optimiseKey metrics and tools to effectively measure the effectiveness of social business transformation


Ask the right questions: Have we achieved what

we set out to do?

PRACTICAL TIPS

Not all answers come from SM

platform metrics

Monitor, evaluate & optimiseKey metrics and tools to effectively measure the effectiveness of social business transformation


Question: Did HR achieve their objective of:

- Staff Retention? √

What do the metrics look like on the various platforms used? See what worked and what did not…

X X X

COMPARE RESULTS & OPTIMISE

XWhy did we not achieve our objective?- Poor adoption?- Poor content?- Lack of Internet Access?- Wrong SM Platform mix?

INCREASE IN PROFITABILITY

ATTRIBUTABLE TO THIS SOCIAL BUSINESS

STRATEGY??????

Question: Did we achieve our corporate goal of attaining an increase in profitability?

SOCIAL BUSINESS TRANSFORMATION

√

√

√

√

√

X

X

SummaryThe practical guide overview


Corporate StrategyThe business you should be in

Business StrategyThe tactics to beat the competition

Functional StrategyOperational methods used

INTERSECTION

Top Down

Bottom Up

25

Long term

Med term

Short term

Social business influencing corporate objectives & strategies











Optimise

21 3

56 4

87Social business



26

Presentation closeThank you

Social Business Strategy © Copyright Jason Stoltz 2013

Content Marketing &

Social Media ForumLeveraging Content & Social Media Analytics for Competitive Advantage

QUESTION & ANSWER SESSION