Leveraging social media
2010/01/25
There is no single formula for how to use social media in your marketing, PR or product development. But the model below from the course, ”Taking Marketing Digital” at Harvard Business School October 2009, can give marketeers a structured approach to social media.
1. Immerse
Start to learn the language of social media and conduct small experiments. This will give you the capabilities, the confidence and the support you need from your organisation to proceed with the use of social media. Identify people within the organisation with a passion for social media and make them champion the effort.
2. Reflect
Consider the following questions to define if social media is right for your company and brand:
- Are you prepared to hear negative feedback about your brand?
- Are you willing to change your brand based on feedback from consumers?
- Are you prepared to be authentic and open?
- Will brand advocates appear online and stimulate positive conversation?
3. Define
Set clear objectives for your social media activities and define measurable KPIs. The objectives can vary and most companies use social media to accomplish a variety of objectives. Common objectives are:
- Market research
- Brand building
- Drive purchase
- Leveraging users for product innovation
- Consumers as creators
It is key that your objectives are aligned with your overall business and brand strategy.
4. Engage
Create engaging content with the following characteristics:
Relevant – know your target group needs and the value propositions from your competitors.
Personalized – give the user a feeling of a customized offer. An example is Nike+ that offers a customized home page that tracks the runners’ individual progress and statistics.
Interactive – make it possible for the user to interact with other users or share content with friends.
Authentic – the content should be consistent with over all brand promise, your products and other off-line activities.
Distributed – distribute content across several platforms and websites.
5. Evaluate
Determine the Measure of Success and follow up. The return on investment of social media is not firmly established yet, which is why it is essential to find other KPIs to measure the success of your social media strategy.
Examples of possible KPIs are:
- Time spent on site
- Buzz
- Number of friends (if your brand is on Facebook)
- Consumer engagement (sign-up, downloads, Tip a friend etc.)
- Conversion of click-throughs