A Quick Dip in the Deep (Complex) End of the Pool

Experience backs up our approach to building marketing strategy (including Social Media strategy).  Designing your processes needs to include a detailed analysis of what your audiences are focused on and the pattern of how they’re focused on those things.  But the end goal of that effort needs to be a return back to a simple but altered (more focused) framework for your marketing efforts.

Strategy vs Process Complexity

A lot companies see strategy as an evil -- a low ROI effort creating complexity where simplicity is ideal.

But the truth is strategy complexity = process simplicity

It provides a clear framework for reacting to the twists and turns of trying to gain the attention of, engage and educate your audiences.

Where marketing programs break down

If you look at where marketing programs break down, a lot of the time it's when things become a little random.  You started out with a simple strategy but after executing on it, you ran into a few roadblocks (it usually happens).  Unfortunately, as a result of a truncated planning process, your team hadn't anticipated or planned for this contingency -- so you start pursuing a trial and error approach to remedying it.

The problem is in marketing there are almost infinite options for tweaking programs.  The only way to be successful is to narrow the focus of your fine tuning efforts -- by some good strategic analysis.  Unfortunately, during the execution phase, time is rarely available for a strategy revisitation -- leaving the program to slowly fade away. 

The questions being asked in the board rooms of many companies include:

1. Does winning on social media mean brands have to embrace a completely open and transparent communication approach?

2. And is that open communication style something that can work for companies across industries and stages of development?

For all their features, the competition between Google and Facebook for social media dominance can be distilled down to a fundamental question about the functioning of social networks:

Should sharing be limited by default or by exception?

Facebook has built its business by forcing us all to share the things we want to with everyone in our friends circle.  Until recently, that was the only option any user or company had.

It was at transparent and open mindset -- one which dominates the social media universe.

At the other end of the spectrum is G+ which starts your social media experience with the creation of circles -- groups of people who you foresee wanting to share the same subsets of content with.

In response to the circles features of G+, Facebook has also create similar functionality but its by no means the default way of operating on Facebook and they don't' make it that easy to restrict your sharing to specific groups.

The Challenge For Companies

Companies are struggling to decide if social is a new channel or new way of doing business.

The difference couldn't be more fundamental.

One requires companies to leverage the same skills they use when undertaking a new channel partnership or entering a new country.  The other requires a fundamental DNA shift to a more open and responsive external outlook.  And with it the acceptance of more risk to the brand by opening it up to the social sphere.

The jury is still out

Will every company eventually be forced to transform itself or will the new social way allow for partial participation -- much as the internet has?

Google + may have a lot to say about that -- by giving companies a viable option which is more accessible to their way of doing things.  And by doing that, Google may have found its entry point into the social compeitition-- into a segment which it already has a significant relationship with -- businesses.

The problem with its conclusions was that it failed to distinguish between the big B2C brands and other brands from across the spectrum including B2B companies.  Without a skeptical lens (like ours), it would be easy to conclude that your company's resources should be shifted to your social media strategy and away from maintaining and developing your website, regardless of your industry.

As B2B marketing specialists, we take exception with articles that do what we would call "fly-by's" on research reports and statistics.  The fundamentals of the shift in buyer behavior are real and transformational but they hardly rule out the role of the website for a majority of companies.

Apples and oranges

There is simply no comparison between the buying process of Coke customers and those of, say, a B2B provider of loyalty programs.  While one could argue that Facebook is better equipped to engage and convert buyers for Coca Cola -- there is considerable question as to whether the same can be said for the B2B provider.

B2B buyers are often obligated to go deep and systematically into the offering, benefits and brand of their vendors.  While the early stages of their "Buyer's Journey" may be better served by a social platform, the later stages still become the purview of the company website and/or the sales team.

Shifting Your Thinking

I recently participated in a LinkedIn discussion about the merits of websites versus Facebook for companies.  While (like many online discussions) the topic was intended to be controversial, in the end there was consensus that both platforms had key roles to play in the new marketing playing field.

Where as buyers were limited to a single platform to interact with your company online only a few years back, now they are presented with a number of key platforms -- all of which have a role to play in their "Buyer's Journey". The key to the new approach is to recognize the strengths of each of your platforms -- specifically to your industry, customer segments and products.

In the end, some products and audiences are well served by a well developed website, while others are better served by a more interactive platform such s social media.

No longer black and white separators

It used to be the case that you could draw clear lines between your companies social and website strategies.  But the lines are blurred now and as companies seek to improve their focus, it is important to understand the shifted balance from website to social. 

Our recommendation to companies (and we've practiced it ourselves) is to shift to a more engagement centric website presence, which seamlessly transitions visitors from your social properties to engagement content on your website.  In a shift in structure, your product and brand messaging will be more blended into the wider educational content.

So who gets hurt the most by this hype to hype reporting around social media and its future?

It's businesses, not individuals.  

For individuals it's more a social thing -- not mission critical.  But for businesses, its life threatening or at the very least, destabilizing.  Strategic opportunities missed -- and settling for weaker options.

How much can you rely on media coverage of new market trends?

In some cases, very little.  Why? Because there's an inherent conflict of interest in the business of media.  If we look back at the recent history of media with respect to new platforms -- you'll notice a consistent pattern.

Hype stories

If you look at how the media looks at medical studies, you'll see a clear pattern -- the story trail is dominated by conflicting studies at opposite extremes of the spectrum -- whether its around medications, foods groups or lifestyle habits, you'll sequentially find stories espousing diametrically opposite extreme views -- often in the same publication only weeks apart. 

Why this pattern? Because thats what sells publications and in turn generates ad revenues.The same story takes place in the coverage of new platforms like the internet (in the late 90's and early 00's) and now social media over the last few years.  Early on in the days of the internet, the media as much as anybody was responsible for creating the internet bubble. The funny thing is that the media played an equal role in popping the bubble when the time came.

Hype stories 2 -- Sequel with the same story

The media is dominated by two kinds of stories about social media. 1) Those predicting its domination of our economy and the end of business as usual and 2) those predicting the end of the social media "experiment" with the start of looking towards the next big thing. 

The last three words say it all : "the next big thing".

As a society, we tend to love to talk about big things -- big success and big failures -- nothing in between.  But the truth is most new developments end up falling somewhere in between -- in that zone of gradual evolution (with ups and downs) with the eventual achievement of the projection later than the over optimistic predictions during the initial media induced bubble.

What does this mean for businesses?

We're especially focused on those businesses which have not yet reached their social media equilibrium --  either having challenges with their social programs or not having seriously pursued it.  Since social still remains a question mark for them, those businesses (which represent a majority of businesses in major countries) rely on external "experts" to guide their decisions around committing to social media.

We're here to suggest looking at the fundamentals of social media -- and just like with the internet a decade ago -- asking the simple question: are the fundamentals strong enough to suggest this new platform is here to stay.  Looking at it from that perspective, it's hard not to conclude that social media is here to stay and its fundamental role in business will continue a steady upward trajectory. 

Brushing aside all the "fluff", we expect that businesses will recognize that social media is a platform along with all the others previously existing . And those same busineses will take a strategic and integrated view of their marketing strategies -- incorporating social media as a tool for reaching prospects earlier in their Buyer's Journey and engaging customers in ways not previously possible.

Budgets are tight but things are more competitive than ever.  More companies fighting for fewer customer dollars.  So your marketing efforts need to be tighter and more focused.  Highly competitive sales are dominated by undercutting by more desperate companies.

So how do you win that battle

You need to find cost effective ways to keep increasing your engagement with prospects.

So what do you need:

Understanding the economic climate is a key to determining your focus.   

The key question -- are things entirely about price in a down economy?  

For most companies the answer is YES, because they do so little to give their customers something else to focus on.  In a down economy, some of the reduction in retail and business spending is because of the increase in unemployment directly taking cash out of the hands of buyers.  But the majority is sentiment based, since the vast majority of people are still employed at or near the same salary they were at before.  And with the economic slowdown, some of their expenses have actually dropped. 

So what's the challenge?

The most telling shift is what is commonly referred as the 'tightening of the purse strings'.  As people shift towards cash over credit and are simultaneously experiencing a decline in confidence, they are setting the bar higher for their spending.

It's worth looking at what drives consumer spending -- in good and bad times:

Achieving strength on these three drivers of spending demands a higher degree of engagement of your customers.  Social media offers the platform to engage in interactive exchanges about 1) defining their needs more closely, 2) increasing brand trust and positivity and most importantly, 3) creating a strong connection to value in the minds of buyers.

So whether your company is in the fight of its life or is simply trying to maintain growth in trying times, it makes sense to consider social media as a platform for fighting that battle.  If for no other reason, social media warrants serious focus for its ability to create engagement at an early stage of a buyer's thinking and to drive home the brand and value messages that are increasingly critical to generating sales in tighter economic times.

Social media empowers customers (present and future)

What's the implication?

The analogy I like to use is a big man vs a little old lady opening the door for a stranger

Little old ladies are so scared all the time that they won't even open the door a crack -- but a big man will probably swing it wide open.  When you're using conventionally marketing like calling and email, the audiences tend to be like little old ladies -- frightened to let you in -- because they know they might never be able to push you out.

But on social media -- they walk into your space -- and they are in control all the time -- like the big man.  So they walk in freely -- knowing they can walk out again

Why is this a good thing? because it gives you an opportunity that was missing for a long time

It was like the old days of cold calling when people would answer the phone and give you atleast a couple of minutes before the trying to get off the call

On social media -- if you get their attention -- they'll give you a bit of time -- because they can choose how they interact with your brand.

In the B2B space, the art is in engagement -- and that engagement is available in spade in social media and content marketing environments

So what's holding your company back?

What we've heard from company decision makers is a range of concerns -- from questions about resources requirements to potential value and a range of other issues

So how should a company (especially one with a B2B focus) go about deciding its approach to social media?

1. Avoid the hyperbole

The media is famous for dramatic statements.  In the same week you can read articles in the same news publication proclaiming the death of social media and separately the future dominance of social media in our economy.

The reality is -- much like the internet 10 years ago -- social media has already established itself as a permanent fixture in the larger global economy

And again like the internet 10 years ago -- the correct way to view its future prospects is to ignore the extremes and look at the detailed workings of SM in different industries

The truth is social media is having a significant impact in different ways depending on the industry you look at.

In B2B marketing, its potential is just beginning to be tapped -- but some focused companies are already achieving great results from it.

2. Defining your company's needs and goals

Social media is neither hard nor easy -- but it does require (for maximum impact) a committed effort from key players across your company.  Their commitment will largely be driven by the goals of those efforts and the needs that will be met by achieving those goals.

3. Capturing the imagination of your team -- then asking for their support

There's no point walking into a room of your brightest leaders and setting your social media plans up for rejection.  How does that happen? By failing to convey the exciting opportunities to meet your company's own goals -- those are the factors that drive internal support for social.

So many companies try to sell it internally in a negative way -- we have to be there -- we're falling behind -- what's the harm in trying it out -- it might work.There's a much better pitch -- rooted in a detailed mapping of the social landscape and overlaying on your larger competitive and business landscape.

Done right -- that combination will deliver greater understanding and support among your key decision makers.

As marketers, we've become so conditioned to marketing being a systematic numbers game -- driven primarily by email and search marketing -- that we've lost some the allegiance to the art of marketing.

So do we all just give up?

Our tendency when studies like this arise is to first ask "are they asking the right question?"

In their minds, people connect "unspecified  brands" to cheesy promotions and poorly thought out content -- so naturally they have no interest in connecting with that.   But what if the question was: would you be willing to engage with strong innovative companies that wanted to share their expertise and perspectives with you?

Or alternately "would you want to hear the voice of experts from the fields you are looking at -- in an interactive and value oriented exchange?"

It wouldn't be a universal yes but the numbers would likely be a lot higher.

Customer centric marketing

So what can you do to be more appealing to jaded social media users -- centering around their focal areas and working your way (and them with you) out towards a way of thinking that meshes well with your products 

This speaks to the larger issues that brands are not putting their strongest voices forward in social media

Respecting the SM user's terrain 

That's the missing piece among social media strategies.  Even the most well intentioned companies frequently fall trap the highly promotional strategies that center around building follower counts

When social media users are asked about engaging with brands -- they tend to think of the worst examples of marketing on social media -- and build their answer around that.

Leaving aside the question of ROI, one angle on that value question is to look at each company's reach and the impact that social media can have.  That reach is defined not only by industries and markets but also by how early in the customer's learning-to-buying voyage that a company can participate.

That voyage is what many marketers call the Buyer's Journey.

What is the Buyer's Journey?

There are many terms for it -- but they all speak to the same thing - a 6 to 10 stage voyage that your prospects make as they go from centering around their challenges to focusing on your products / services and those of your competitors for purchase.

What makes it particularly significant is how it defines the impact that social media can have on your marketing reach.  The later you go in the Buyer's Journey, the more you're faced with short attention spans and a lot of competitive presence.  Access to customers earlier is the big prize of social media marketing and the wider area of engagement marketing.

What's the Key Challenge Around it?

Make no mistake, marketing is a battle … a battle not only against competitors but against perceptions, lack of education and for the attention of prospects

All this points to the critical value of social media in marketing.

So what's the big challenge in this effort?  To shift your company's mindset to a more customer centric one and to transform your marketing messages into engaging educational messaging that belongs in their early stage thought processes.

Laying Out the Buyers Journey For Each Industry

Fundamentally the same, but with significant differences at the detail level, buyers in most industries pass through similar levels in their buyers journey

1. Unaware / untroubled

2. Troubled / aware

3. Investigation of options

4. Understanding

5. Decision

6. Action

Until recently, vendors rarely had opportunities to engage with customers before the third stage.

But now with social media, the engagement can start at a much earlier (1st) stage -- often without competitors breathing down your neck.

The real opportunity to set the tone for the conversation -- in your favor -- by creating awareness of your solutions and perspectives and to drive the buyer's education in a direction that supports your products or services over others.

It struck me then how many companies are taking these poorly thought-out, vague swings at social tactics without really thinking about the value that it can generate for their business. Who can blame them if this is the level of advice the experts are doling out?

The SEO driven world of marketing that has dominated in recent years has made most of us "flail" at a lot of different tactics rather than considering our spots and taking strong swings at fewer things more consistently. This approach is problematic because it lacks any sort of strong foundation and when things become complicated (as they always do) the most likely scenario is to ignore or be stalled by the challenges which arise.

I can guarantee that social marketing service providers have loved this state of affairs. They love it when there are so many vague efforts that are hard to measure -- keeping their accountability elusive and delaying their inevitable termination by most of their clients for whom they are providing no value

I'm not a big fan of negatively defining your brand but in this case I'm happy to say our company (AftertheNet) is not about flailing weak swings at any idea that comes along. We're the opposite, fewer swings, but strong ones, that are focused, goal oriented and measurable for their positive or lack of positive impact on your business results. We bring that same level of focus to our clients -- because we know that is the starting point for sustainable ROI oriented social programs.

Don't listen to them when they say you can't have an ROI focus for your company's social media programs.

Ever seen a teenager who doesn't want to grow up? The Anti-ROI Social Media Gurus are the same.  It's just their way of keeping the playground open -- the unaccountable world of PR and Social Media where companies spend endless amounts of money without any regard for value generation or ROI. 

Experience tells us that view is unsupportable for several reasons

As SMM transitions to social business, childhood to adulthood if you like, it's time to leave the sandbox and enter the real world where budgets do matter and the true responsibility of all strategic managers is to ensure that ROI is generated from every dollar spent.  Whether or not it can be precisely measured is another question, but the focus is valuable regardless.

Prior to AftertheNet, a significant part of my prior business experience was spent at the C-level in high growth start ups.  I sat through plenty of meetings where the ROI question came up and was ignored because there wasn't any way to measure it.

ROI Champion: Right Here! 

One of my major roles in my earlier companies was to bring as much ROI focus as possible to key initiatives in the company.  I've led a lot of meetings where the opening hypothesis was you can't demand ROI from PR -- and by the end we had to atleast more than 50% created a strong connection to ROI that hadn't existed earlier.

Regardless of its measurability, which is getting easier each day in Social Media, ROI is has a central place in your thinking at a foundational level.  The most troubling shortcoming of many social media programs is the total inability to describe in qualitative terms (if not quantitative terms) what benefit the program will bring to the core goals of the business.

Stay tuned, Follow Us or Subscribe as we bring you a series of practical articles that point the way towards:

1. Integrating Social more directly into the rest of your marketing efforts and overall business

2. Maintaining the connection to ROI and other key performance metric for your Social programs

I absolutely hate it when businesses are slave to something other than their customers and core business model and strategy.  Anything else that skews behaviour, drives spending or alters focus is a disease -- plain and simple. 

My early days in public companies and investment banking were dominated by constantly chasing the market's mood and perceptions -- a constant disruption to the creation of long term value in a business.

As a result, when I shifted to high growth early and middle stage companies, despite a strong finance background, I was constantly positioning going public as a weak second option to strong strategic financing for the businesses I was involved in.

The last decade has seen a shift in my focus, towards business model centric senior managements and in the last 5 years as a strategic marketing and social strategy advisor.  But again I find a similar but different disease exists in the current marketing world, which shares a number of similarities to going public. 

In the world of empowered search engines (rather than empowered buyers or sellers), the world of marketing content revolves around attention grabbing titles and Call-To-Action Descriptions.

Things like brand development, competitive positioning and educational selling all go out the door on search engine listings -- replaced by the online equivalent of the limousine driver's signs at the exit from customs at vacation destination airports. 

We're all reduced to sign-waving, offer screaming, commoditized pitch-men.  Surrounded by competitors, emasculated in front of prospects and having no leverage to build relationships or brand with prospects before the discussion turns to price. 

ENOUGH!

Welcome to a new world -- the land of social media marketing -- where the power shifts not only to buyers but also to sellers. 

How does that happen? By empowering buyers rather than the medium, sellers are forced to rediscover their customer centricity -- that underlying mindset that leads to the creation of truly strong businesses.

With a concerted and focused effort (it is a big effort), your company will regain its ability to connect with prospects -- sell via brand, education and positioning -- and build value perception before discussion of pricing -- all in an environment where competitors are present but not lurking over your shoulder as you deliver your message.

Seem like its worth a strong effort? For all our clients it certainly has been.