Using Social Media to Achieve Management Goals
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Emphasizes the need for public enterprises to learn about and use social media to influence the market and engage stakeholders.
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Using Social Media to Achieve Management Goals
- 1. @2011 Miller De Wulf Corp. Achieving managementAchieving management goals using social mediagoals using social media November 9, 2011 C. Scott Miller, MBA @BIOblogger Marketing Consultant
- 2. @2011 Miller De Wulf Corp. The future isn’t what it used to be. The best way to predict your future is to create it. - Abraham Lincoln - Yogi Berra
- 3. @2011 Miller De Wulf Corp. OverviewOverview 1. Evolution of networks 2. Rethinking how we communicate 3. Using new networks to stimulate change 4. Getting started
- 4. @2011 Miller De Wulf Corp. Evolution of networksEvolution of networks
- 5. @2011 Miller De Wulf Corp. ““The mediumThe medium is the message.”is the message.” Marshall McLuhan 1964
- 6. @2011 Miller De Wulf Corp. Media evolutionMedia evolution 1400’s - Gutenberg’s press 1900’s – Photo prepress 1970’s - Digital prepress/CPUs 1990’s – Free access TV, PCs & internet 2000’s – Smart devices & social media Change is accelerating. Johannes Gutenberg Time’s Man of the Millennium
- 7. @2011 Miller De Wulf Corp. Digital networks offerDigital networks offer more personalized contentmore personalized content Hundreds of television and radio channels Internet media explosion – websites, blogs, Facebook, LinkedIn, Twitter, emails, e-zines Interactive laptop/smart phone/mobile pad delivery Mark Zuckerberg Now audiences get to choose.
- 8. @2011 Miller De Wulf Corp. Viral engagement of users isViral engagement of users is a powerful, two-edged sworda powerful, two-edged sword “Egypt’s Facebook revolution” – Consensus can lead to change – Just as easy to organize Luddites Ignorance is no excuse. Wael Ghonim China’s struggle to control messaging – Truth is hard to restrain vs. – Misinformation is hard to dislodge Ai Wei-Wei
- 9. @2011 Miller De Wulf Corp. Voting in the new millennium?Voting in the new millennium?
- 10. @2011 Miller De Wulf Corp. Rethinking how we communicateRethinking how we communicate
- 11. @2011 Miller De Wulf Corp. Outbound marketingOutbound marketing
- 12. @2011 Miller De Wulf Corp. Inbound marketingInbound marketing BlogSearch Engines Social Networks Content educate Find/found leads Link & engage stakeholders
- 13. @2011 Miller De Wulf Corp. Rethinking marketingRethinking marketing Outbound Marketing – Pounds messages – Prospects pursued – Buying trust – One-way media – Paid growth – Propagandize Inbound Marketing – Attracts interest – Prospects come to you – Earns trust – Interactive media – Viral growth – Educate
- 14. @2011 Miller De Wulf Corp. Effectiveness comparedEffectiveness compared Outbound Marketing – 200MM “Do not call” – 91% Email opt-outs – 86% Skip TV ads – 44% Direct mail never opened Inbound Marketing – 61% invest more in 2011 – 2X budgets in last 2 years – 2/3 say blogs critical – Costs 62% less/lead
- 15. @2011 Miller De Wulf Corp. Survey: Cost per lead is below averageSurvey: Cost per lead is below average Inbound Outbound
- 16. @2011 Miller De Wulf Corp. No offense but…No offense but… “If you have more money than brains, you should focus on outbound marketing. If you have more brains than money, you should focus on inbound marketing.” - Guy Kawasaki
- 17. @2011 Miller De Wulf Corp. Integration strategy determines successIntegration strategy determines success Search Engines Social Media Links
- 18. @2011 Miller De Wulf Corp. Tracking and reportingTracking and reporting Opens & click-throughs Followers & preferences Campaign comparisons List growth & opt-outs Bounced email addresses Relevance & Effectiveness:
- 19. @2011 Miller De Wulf Corp. Klout measures influenceKlout measures influence
- 20. @2011 Miller De Wulf Corp. Using new networks to stimulate changeUsing new networks to stimulate change
- 21. @2011 Miller De Wulf Corp. Market growth depends on favorable policiesMarket growth depends on favorable policies Financing for energy/waste projects rely on 10+ yr. cycle market predictability Markets rely on policies Policies rely on election cycles (2-6 years) Elections rely on public outreach and opinion We need to create sustainable relationships. Washington, DC
- 22. @2011 Miller De Wulf Corp. Case study:Case study: Broin & AssociatesBroin & Associates 1983 – first family Broin biorefinery 2007 – 20 state-of-the-art corn ethanol biorefineries Future growth depends on policies & innovation image Jeff Broin, CEO becomes Poet, LLCbecomes Poet, LLC Broin recognizes the value of content Changed name to POET & expanded marketing strategy
- 23. @2011 Miller De Wulf Corp. POET’s social media utilizationPOET’s social media utilization Blog, Twitter, Facebook, YouTube (“Ask POET” and ads) 2008 - Created ”Growth Energy”, a lobby with Gen. Wesley Clark as Co-Chairman 2008 – Started “Growth Force” a subscriber email service that notifies on ethanol policy issues Gen. Wesley Clark (ret.)
- 24. @2011 Miller De Wulf Corp. POET / Growth EnergyPOET / Growth Energy accomplishmentsaccomplishments 2009 – POET is world’s largest producer of ethanol w/ 27 biorefineries 2010 – Got EPA to move blend wall to E15 2010 - “Fueling Freedom” plan to substitute flex fuel infrastructure for ethanol subsidies 2010 – Challenged “Indirect land use change” factor being used in California’s Low Carbon Fuel Standard 2011 – Received DOE loan guarantee to build commercial-scale cellulosic ethanol plant for 2013
- 25. @2011 Miller De Wulf Corp. Regulations and policies affect state economyRegulations and policies affect state economy California LCFS, AB 32, RPS, Zero Waste, Cap & Trade: – Setting national trends – The most repressive in U.S. for deployments Tech R&D, investment capital, schools, & feedstock are the most plentiful and diverse How do we get California moving again? Sacramento, CA
- 26. @2011 Miller De Wulf Corp. Getting startedGetting started
- 27. @2011 Miller De Wulf Corp. 1: Identify your objectives1: Identify your objectives 2011 Social Media Examiner
- 28. @2011 Miller De Wulf Corp. 2: Evaluate your current program2: Evaluate your current program Rank your company objectives Rank your marketing challenges Compare your outbound vs. inbound program How formal is your inbound program? Strategic 19% Transition 47% Trial 34%
- 29. @2011 Miller De Wulf Corp. 3: Set Measurements and budgets3: Set Measurements and budgets What and whom do you monitor? Place values on achieving each objective Set up measurement analytics Budget cash flow, NPV, and ROI Liberal Formal 7% Conservative Formal 47% Informal Budget 27% Time Only 17%
- 30. @2011 Miller De Wulf Corp. ConclusionConclusion 1. Communications channels are evolving rapidly and becoming more interactive 2. Inbound marketing is harnessing this new paradigm and saving companies money 3. We can use these new tools to influence policies that are important for market growth 4. Well thought out social media strategies are good for business
- 31. @2011 Miller De Wulf Corp. Takeaways… for the price of 1 business cardTakeaways… for the price of 1 business card Slide Handouts Assessment Spreadsheets
- 32. @2011 Miller De Wulf Corp. Scott Miller, MBAScott Miller, MBA scott@millerdewulf.comscott@millerdewulf.com @BIOblogger@BIOblogger 818.439.0239818.439.0239
Hinweis der Redaktion
- Thank you, Paul, for inviting me to present to this Forum. I appreciate what the DPW’s Southern California Conversion Technology Demonstration Project is doing to stimulate long-term change in Sacramento and their growing use of social media – blogging and email newsletters. The tools and media may be new, but the need to engage stakeholders through good public relations, marketing, and communications to have business success is as old as business schools. This presentation is about personal relationship building and the social media revolution.
- I’d like to start with two quotations from icons of the American experience. I don’t know what it is that made Yogi utter these prophetic words but they seem to be uncomfortably relevant today. I see it as a challenge. On the negative side we have been jarred by the culture clashes of terrorism and Mideast wars, oil price shocks, and global recession. On the positive side we have new media tools and a burst of interest in conversion technologies that can help us better manage waste streams and carbon in the atmosphere. The second quotation is equally timeless and provides encouragement to planners and doers. Look around the room and I hope you’ll appreciate you are among colleagues pursuing a worthwhile activities that will profoundly affect the legacy we leave our children.
- My presentation is broken into four parts: WHERE we are in the evolution of networks, HOW we can use the new tools for engaging stakeholders CASE STUDY HOW can you get started
- With social media we have new channels for delivering marketing messages. If the message is the same, then what can we do to increase the impact and distribution of messages?
- In the mid-60’s Marshall McLuhan, a University of Toronto communications theorist who studied the relationship between messages and the medium they are delivered by. He is famous for summarizing his viewpoint as “The medium is the message.” What channels you use to deliver a message colors its importance, influences our understanding, and affects the message’s credibility. Print is different than video, FOX is different from MSNBC, and who says the words matters. Welcome to the world of endorsements! Question – Who was Time magazine’s Man of the 20th Century? Albert Einstein. Who was their Man of the Second Millennium?
- In the year 2000, Time Magazine heralded Gutenberg the man of the millennium for his invention of moveable type. You could say he freed media. By making manuscripts reproducable and distributable he largely caused the end of the Dark Ages because it enabled common people access to texts previously reserved to the elite. It wasn’t until the invention of photography and photolithography we saw a major paradigm shift in media and newspapers underwent mass production. A much bigger shift occurred when media went digital. Once that happened then advances in media accelerated with the exponential growth in the speed of the processors. My point is that the evolution is accelerating.
- Not only do we have media, we also have a profusion of networks and channels per each medium. In television the big three broadcasters gave way to the era of hundreds of channels via cable. On the internet, everyone is now potentially a publisher of writing, music and video. The press as a representative democracy medium has given way to personalized publishing. You can monitor your own reach as your number of followers. Delivery devices have developed as well culminating in multimedia smart phones and tablets.
- This isn’t just a revolution of technology. It’s a revolution of access to information and coalition building of an unprecedented level. Wael Ghonim, a young Google executive in Cairo, whose Facebook page spurred the revolution that toppled Mubarek’s 30 year regime. But it is a two-edged sword. Those who are resistant to change can exploit the same media to create obstacles. China’s Ai Wei-wei is an nationally recognized artist who used blogging to launch investigations of corruption in China. He has caused the regime to crack-down and restrain the loosening of internet use in the country. As an industry we can’t ignore the power of social media – otherwise the “other side” will be controlling opinion.
- In the U.S. we are seeing more and more use of social media to influence opinion. This is a page from a website that enables the user to sign and send a petition of support for ending oil subsidies. Will online voting be next? Will every bill require a referendum of the public?
- With social media we have new networks for delivering marketing messages. If the message is the same, then what can we do to increase the impact and distribution of messages?
- Traditional networks for marketing are represented here. This is now referred to as Outbound Marketing – meaning that the marketers are crafting messages that are distributed outwardly through advertising in publications, television, direct mail, telemarketing, and radio or using emails and the internet as delivery systems.
- This contrasts with “Inbound marketing” which uses the internet to draw people in via links to messages and engage them interactively. We tend to think of all inbound marketing as “social media” although it can be categorized as Search Engines (for finding and being found through optimatization), Blogs (where content is posted to be linked to), and social networks where the majority of interactive discussion and linking takes place.
- The traditional, outbound approach is increasingly being as an affront to the audience. Remember that sophisticated audiences can now choose what channels they receive information through. Being continually pounded by messages is seen for what it is – buying trust. Companies buy lists, ad space, and media time to propagandize their messages. By contrast, inbound marketing relies on attracting interest. Catch more flies with honey than with vinegar. Trust must be earned and time must be invested in growing the relationship. The payoff is that trust can grow virally with each channel promoting that relationship with their followers. In this scenario, honesty is the best policy – better to educate than to propagandize.
- Which is more effective? Outbound marketing is in a “fighting retreat”. Thanks to annoyance with telemarketing 200MM have registered “Do-not call.” Saturation of emails has resulted in 91% of receivers having opted out of lists they once accepted. TV remotes, Tivo, and premium channels enable 86% of viewers to skip TV ads, and 44% of direct mail is never opened! A survey of marketers just this year found that, despite the economy, 61% more has been invested this year in inbound marketing. Budgets have doubled as trial programs have moved into more formal programs. The costs per lead has been slashed as marketers become more sophisticated in attracting followers.
- This survey also broke out which marketing medium reduced the cost per lead the most. Inbound is cheaper per lead than outbound. Only Pay per Click advertising via search engines ranked with Outbound Marketing in value. But some would say paying per click is more in character with outbound anyway.
- This may be a bit “glib” but there is a certain truth to it… “If you have more money than brains, you should focus on outbound marketing. If you have more brains than money, you should focus on inbound marketing.” Not all outbound marketing is bad – far from it. But it needs to be balanced with target market interaction – and that does take some thought.
- “Links” are the coin of the realm. A well integrated social media strategy will generate more links. More links in means higher rankings in search engines – which in turn means blog content being found more often by people who share opinions via social media.
- Unlike paper media, online networks provide us with instantaneous traffic measurement tools. Not only how many people opened the email but also how many clicked through the various links on the page. They can tell us what followers liked most Compare results of email marketing campaigns Watch email list grow and track opt-outs Managed bounced email addresses
- And new algorithms that track followers and links can monitor multiple networks (Twitter, Facebook, LinkedIn, etc) to determine a channel’s overall influence. One of the latest is Klout. Hubspot also provides tools for grading one’s Twitter, Blog, and Facebook channels.
- Armed with these new tools, how are organizations stimulating change and buy-in from their target markets?
- The work we do depends on favorable policies. We can’t just be better engineers. We need to maintain our long-term credibility and relevance to the public. We also need to engage stakeholders. To address this challenge companies have embraced different public relations strategies. There is one national company that I want to cite.
- Broin & Associates has established itself as a pre-eminent corn ethanol producer. In 2007 Jeff Broin became the CEO and major owner. He realized that the future growth of the company no longer depended engineering innovation – they were great at that. But he correctly realized that the battle for growth depended on favorable policies and stakeholder engagement. His first act was to change the name of the company. He used his new image in an expanded marketing strategy.
- The company embraced social media so it could engage stakeholders. It also created “Growth Energy” – an American ethanol producers lobby – in DC. with Gen. Wesley Clark as its figurehead Co-Chairman Growth Energy in turn developed a subscriber email service called Growth Force that reported on favorable and unfavorable press and policies. It frequently solicits online comments and calls to Congressmen in support of their views on pending legislation.
- What did POET/Growth Energy accomplish? 2009 – POET is world’s largest producer of ethanol w/ 27 biorefineries 2010 – Got EPA to move blend wall to E15 2010 - “Fueling Freedom” plan to substitute flex fuel infrastructure for ethanol subsidies 2010 – Challenged “Indirect land use change” factor being used in California’s Low Carbon Fuel Standard 2011 – Received DOE loan guarantee to build commercial-scale cellulosic ethanol plant for 2013
- Closer to home we are seeing a rash of new regulations and market mechanisms that impact waste management directly or indirectly. Sacramento policies set national trends. They are also the most repressive business policies in the nation. In spite of the fact that we have the most technological R&D institutions, innovative ventures, risk-taking investors, engaged consumers, and diverse feedstock we cannot get technologies deployed here. How do we get California moving again?
- We have many types of organizations in this room. I entreat you to get started affecting change in part by budgeting for expanded use of social media.
- Identify your objectives
- Rank your objectives and identify what challenges need to be surmounted. Include new elements that engage stakeholders Determine how formal your inbound program is now and what it should be Trial – We do not have a routine process or guidelines for performing social marketing. Transition – We have an informal process with few guidelines – sporadically performed Strategic – We have a formal process w/thorough guidelines that we routinely perform
- 3: Set measurements What and whom should you monitor – friends, foes, competitors, potential partners? Place values on achieving each objective Set up measurement analytics Budget cash flow, Net Present Value for various options, and Return on Investment You should end up with a strategy you can take to upper management that argues well for your position.
- My presentation is broken into four parts: WHERE we are in the evolution of networks, HOW we can use the new tools for engaging stakeholders CASE STUDY HOW can you get started
- If you are interested in learning more just give me your business card and I’ll make sure you receive a PDF of my slide handouts and an Excel file of assessment spreadsheets.