Connecting corporate objectives to social business strategy
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Making the Connection: A practical guide to creating a social business strategy that aligns with corporate / organisational objectives. Many businesses are using social media, but many fail to see the value on their bottom line. This presentation aims to help businesses become social, and connect their efforts to the organisation's overall objectives. It also gives executives insight as to how they can effectively introduce social into their business and get these social technologies to stay focused on the organisation's end goal...
![Connecting your corporate objectives to an
effective social business strategy
Content Marketing &
Social Media Forum
Leveraging Content & Social Media Analytics for Competitive Advantage
Presented by Jason Stoltz
[Marketing Executive | Business Strategist | Brand
Architect | Communications Specialist]
Date of First Publish: 21 November 2013](https://image.slidesharecdn.com/connectingcorporateobjectivestosocialbusinessstrategy-131121065911-phpapp02/85/Connecting-corporate-objectives-to-social-business-strategy-1-320.jpg)
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Connecting corporate objectives to social business strategy
- 1. Connecting your corporate objectives to an effective social business strategy Content Marketing & Social Media Forum Leveraging Content & Social Media Analytics for Competitive Advantage Presented by Jason Stoltz [Marketing Executive | Business Strategist | Brand Architect | Communications Specialist] Date of First Publish: 21 November 2013
- 2. Introduction What we need to accomplish in this session Content Marketing & Social Media Forum Conference Theme Session Theme Connecting your corporate objectives to an effective social business strategy Social Business Strategy © Copyright Jason Stoltz 2013 4
- 3. Route Introduction Look 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 Destination 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, FUEL 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 Social Business Strategy © Copyright Jason Stoltz 2013 SOURCE: www.altimetergroup.com Vehicle 5
- 4. Introduction Business is Social â A glimpse into the future Salesforce is a cloud based CRM â the worlds #1 sales, service and marketing application http://www.youtube.com/watch?v=ujlfePzD77E Social Business Strategy © Copyright Jason Stoltz 2013 6
- 5. Introduction A practical guide to aligning social business strategy to corporate objectives Presentation Overview 1 3 2 Define Corporate Goals Translate CGâs into Functional Strategies (BU Level) 1. Research Social Media Platforms 2. 3. 6 5 Create & Define the Strategy Roadmap 7 Consolidate Functional Strategies by SM Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 5. 6. 8 Implement 4. Monitor, Evaluate & Optimise Social Business Strategy © Copyright Jason Stoltz 2013 Social business influencing corporate objectives & strategies 7. 8. Define corporate goals [What do we want to achieve as a business?] Translate CGâs into functional strategies [What strategies must our business units take to contribute toward achieving CGâs?] Research SM platforms [What platforms / tools are available in the social space and where are our targeted audiences talking / engaging?] Map SM Platforms to Functional Strategies [What are the top 3 platforms per functional strategy / use case?] 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?] 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?] Implement Monitor, evaluate & optimise [Have we achieved social business transformation? Have we achieved corporate goal attainment?] 7
- 6. Corporate Strategy The business you should be in Define Corporate Goals The levels of strategy â Looking top down Long term Business Strategy The tactics to beat the competition Med term Beware of disconnect Functional Strategy Operational methods used Short term 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 Top Down INTERSECTION Bottom Up Ensure effective communication of these goals & strategies filter to business unit and functional levels PRACTICAL TIP Social Business Strategy © Copyright Jason Stoltz 2013 Social business influencing corporate objectives & strategies 9
- 7. Aligning Corporate Objectives to SB Strategy A practical guide 1 2 Define Corporate Goals 6 5 Create & Define the Strategy Roadmap 7 Translate CGâs into Functional Strategies (BU Level) Consolidate Functional Strategies by SM Platforms 3 Research Social Media Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 8 Implement Social Business Strategy © Copyright Jason Stoltz 2013 Monitor, Evaluate & Optimise Social business influencing corporate objectives & strategies 10
- 8. Translate Corporate Goals Corporate Goals Functional strategies / goals to achieve corporate goals Into functional strategies at business unit level - Stop thinking operations for & start thinking social â IN THE DIGITAL SPACE a second - think engagement and âCONVERSATIONâ - think about the relationships you need to foster to achieve these strategic objectives Social Business Strategy © Copyright Jason Stoltz 2013 - PRACTICAL TIPS Understand your stakeholder base per strategy Which stakeholders are affected and what you need to say to them [*** Content considerations] 11
- 9. Aligning Corporate Objectives to SB Strategy A practical guide 1 3 2 Define Corporate Goals 6 Translate CGâs into Functional Strategies (BU Level) 5 Create & Define the Strategy Roadmap 7 Consolidate Functional Strategies by SM Platforms Research Social Media Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 8 Implement Social Business Strategy © Copyright Jason Stoltz 2013 Monitor, Evaluate & Optimise Social business influencing corporate objectives & strategies 12
- 10. Research Social Media Platforms What 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 Donât try to understand everything at depth!!! PRACTICAL TIP Social Business Strategy © Copyright Jason Stoltz 2013 http://www.theconversationprism.com/ 13
- 11. Aligning Corporate Objectives to SB Strategy A practical guide 1 3 2 Define Corporate Goals 6 Translate CGâs into Functional Strategies (BU Level) 5 Create & Define the Strategy Roadmap 7 Consolidate Functional Strategies by SM Platforms Research Social Media Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 8 Implement Social Business Strategy © Copyright Jason Stoltz 2013 Monitor, Evaluate & Optimise Social business influencing corporate objectives & strategies 14
- 12. Map SM Platforms to Functional Strategies What 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 Social Business Strategy © Copyright Jason Stoltz 2013 15
- 13. Aligning Corporate Objectives to SB Strategy A practical guide 1 3 2 Define Corporate Goals 6 Translate CGâs into Functional Strategies (BU Level) 5 Create & Define the Strategy Roadmap 7 Consolidate Functional Strategies by SM Platforms Research Social Media Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 8 Implement Social Business Strategy © Copyright Jason Stoltz 2013 Monitor, Evaluate & Optimise Social business influencing corporate objectives & strategies 16
- 14. Consolidate functional strategies by SM platforms Collect the operational activities per social business platform Sales & Marketing Sales & Marketing Sales & Marketing Human Resources Human Resources - Generate new business leads (InMails / PPC) - Promote events - Raise brand awareness (Thought Leadership) - Staff retention (communication) - - Raise brand awareness (Thought Leadership / PPC) Raise brand awareness (Thought Leadership / PPC) - Reduce customer acquisition costs (Publish sales Information) - Staff training Sales & Marketing - Staff collaboration - - Reduce customer acquisition costs (Publish product Information in groups) Raise brand awareness (Thought Leadership / PPC) - Reduce customer acquisition costs (Publish product reviews / how to guides - Online reputation management Human Resources R&D NPD research Staff collaboration (sharing of presentation materials) Competitor research - Staff training - Human Resources - Staff retention (Communications) Recruitment & on boarding R&D Human Resources - Promote current skill & talent ownership - Staff vetting & background checks Promote employer brand of choice (PPC / Groups) Procurement - NPD research - Strategic research Procurement - Source cheaper supply Source cheaper supply (through professional networks) 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 Social Business Strategy © Copyright Jason Stoltz 2013 17
- 15. Aligning Corporate Objectives to SB Strategy A practical guide 1 3 2 Define Corporate Goals 6 Translate CGâs into Functional Strategies (BU Level) 5 Create & Define the Strategy Roadmap 7 Consolidate Functional Strategies by SM Platforms Research Social Media Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 8 Implement Social Business Strategy © Copyright Jason Stoltz 2013 Monitor, Evaluate & Optimise Social business influencing corporate objectives & strategies 18
- 16. Create & define the strategy road map RESOURCES should be prioritised to the SM platforms that are going to achieve the most functional goals first! Donât underestimate the power of quick wins PRACTICAL TIPS Document the plan of action for content, resource and governance Stakeholder (target audience / community) driven content creation & sharing Content 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 Social Business Strategy © Copyright Jason Stoltz 2013 GOVERNANCE Resources Control policies - Content standards - Contributors - Editing & Publishing - Engagement guidelines - Metrics and benchmarks Change Management (New Implementations) - BIG BANG does NOT WORK - Stakeholder Buy-in - Train train train train train and follow up Table the resources required to implement content strategy with detailed overview of expected EXPENDITURE EXECUTIVE BUY-IN - Staff - Gen Y NOT THE ANSWER - Pay peanuts get monkeys Balance insource â 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 â license fees) 19
- 17. Aligning Corporate Objectives to SB Strategy A practical guide 1 3 2 Define Corporate Goals 6 Translate CGâs into Functional Strategies (BU Level) 5 Create & Define the Strategy Roadmap 7 Consolidate Functional Strategies by SM Platforms Research Social Media Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 8 Implement Social Business Strategy © Copyright Jason Stoltz 2013 Monitor, Evaluate & Optimise Social business influencing corporate objectives & strategies 20
- 18. Implement Put 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 Donât let negatives go! Deal with issues immediately as they arise PRACTICAL TIP http://www.youtube.com/watch?v=lQJYmIZiqho Social Business Strategy © Copyright Jason Stoltz 2013 21
- 19. Aligning Corporate Objectives to SB Strategy A practical guide 1 3 2 Define Corporate Goals 6 Translate CGâs into Functional Strategies (BU Level) 5 Create & Define the Strategy Roadmap 7 Consolidate Functional Strategies by SM Platforms Research Social Media Platforms 4 Map SM Platforms to Functional Strategies (Use Cases) 8 Implement Social Business Strategy © Copyright Jason Stoltz 2013 Monitor, Evaluate & Optimise Social business influencing corporate objectives & strategies 22
- 20. Monitor, evaluate & optimise Key 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 Social Business Strategy © Copyright Jason Stoltz 2013 Not all answers come from SM platform metrics 23
- 21. Monitor, evaluate & optimise Key metrics and tools to effectively measure the effectiveness of social business transformation Question: Did HR achieve their objective of: â - Staff Retention? â X Why did we not achieve our objective? - Poor adoption? - Poor content? - Lack of Internet Access? - Wrong SM Platform mix? X â What do the metrics look like on the various platforms used? See what worked and what did not⊠â COMPARE RESULTS & OPTIMISE â X X X X â SOCIAL BUSINESS TRANSFORMATION Social Business Strategy © Copyright Jason Stoltz 2013 Question: Did we achieve our corporate goal of attaining an increase in profitability? INCREASE IN PROFITABILITY ATTRIBUTABLE TO THIS SOCIAL BUSINESS STRATEGY ?????? 24
- 22. Corporate Strategy The business you should be in Summary Business Strategy The tactics to beat the competition The practical guide overview 1 Define Corporate Goals Functional Strategy Operational methods used 3 2 Long term Translate CGâs into Functional Strategies (BU Level) Short term Research Social Media Platforms Top Down 6 5 Create & Define the Strategy Roadmap Consolidate Functional Strategies by SM Platforms 4 INTERSECTION Map SM Platforms to Functional Strategies (Use Cases) Bottom Up 7 8 Implement Monitor, Evaluate & Optimise Social Business Strategy © Copyright Jason Stoltz 2013 Social business influencing corporate objectives & strategies Social business influencing corporate objectives & strategies Med term 25
- 23. Presentation close Thank you QUESTION & ANSWER SESSION Content Marketing & Social Media Forum Leveraging Content & Social Media Analytics for Competitive Advantage Social Business Strategy © Copyright Jason Stoltz 2013 26