Data-Driven Marketing Campaign Optimization

My report is about how CMOs can use big data and analytics to transform marketing decision-making and advance corporate innovation by using big data to optimize your marketing efforts.  The way I went about writing this report was I interviewed both vendors and CMOs to understand where the market place is with respect to actually using marketing automation software / platforms.

 

There is a lot of software that delivers on the promise, unlike 25 years ago when CRM- Marketing, Sales and Customer Service vendors (either point or suites) had the right ideas and desire to provide this type of business impact, but the software really wasn’t not as advanced as the marketing brochureware (sales pitch and slides) was.

 

In addition, from working with CMOs when I was in the agency world and throughout my career, the story has been very similar. Software has the potential to create and drive revenue when it’s attached to the right strategy. Technology without the right strategy just means we do more of the wrong things faster. That’s not such a good idea, though it happens every day.

 

Level Self-Identification Leads to Marketing Transformation

You can’t change what you “don’t know, you don’t know.” In the report, I provide a picture for Marketers so that they can self identify where they are in the various levels of using marketing automation and then to identify what they’d like to be doing. In consulting or advisory work, this is often known as a “gap analysis.” It helps people see the present as well as the possible future state.

 

What we found in the research is that many Marketers learned that the way they were using marketing automation software as at Level 1 &2. They do not realize there’s more they could do. Others found that they have not chosen software that help them advance their Marketing capabilities to Levels 3, 4, and 5. In the report, I describe some ideas on what those other levels are and what it might look like.

 

The Five Levels Seek To Drive Marketers To Become Chief Intelligence And Revenue Officers

In theory, let’s say that Marketing really drove revenue in your company. The idea I’m really aiming for in this report is to provoke CMOs and Marketers to think about becoming chief intelligence and revenue officers.

 

When they are able to show that they can repeatedly and consistently contribute to bottom-line, the senior leadership team will give them respect they want. Long gone will be the days of suffering from what I lovingly call the “Rodney Dangerfield Affect” – i.e., the day of “they just don’t get enough respect” won’t exist anymore. And that would only be a good thing.

 

Because Marketing software has changed over the last 25 years and can deliver on may more of the promises it aspired to, Marketers must also change. But there is a gap in the talent pool of CMO’s and Marketers that understand how to use marketing automation and customer experience platforms to get to Level 4 and Level 5 activity (see the report). And that’s what I really want to see happen and why I wrote the report. It’s time that we use all this big data revolution and new technology and transform old roles into new roles where respect for the contribution is earned and acknowledged.

 

What This Means to You

What may not be obvious is the “so what?” What does this mean to you? Here’s some brain candy to think about, As a CMO or Marketer, you need to:

  • Understand how marketing automation platforms have transformed and how big data plays a larger part in today’s CMO role
  • Know where your personal skill level are as well as those of people in your organization
  • Be able to pick technology that can provide these more advanced capabilities; often times buying technology was the role of IT, now CMOs are responsible for this
  • Understand requirements definition documents, capability lists (features and functions), business case justification along with bottom-line benefits — when it comes to choosing technology
  • Fill the skill sets in your organization so that you are able to truly justify to your senior leadership team why you want a larger budget and new technology.

 

I don’t think you can wait to do this. I think it will only going to get worse, not easier to pick the right technology for today’s CMO and Marketer. Make sure you are prepared by educating yourself on your options and learn how to choose technology so that you can show your contribution to the bottom-line.

 

I’d love to hear from some folks who have mastered some or all of :choosing technology and business justification capabilities”— how you did it! You never know, you might become part of my disruptive case studies library!

@DrNatalie

Skype: drnatalie007 | LinkedIn | Google+

Catch my latest:
• Thoughts at www.DrNatalieNews.com 
• Upcoming book series: “7 Steps To Digital Customer Experience Mastery” (working title)

SAVE THE DATE!
Constellation’s 4th Annual Connected Enterprise 
The Executive Innovation Conference | October 29th-31st 

Half Moon Bay, CA | Ritz Carlton
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How Companies are Building the Green Internet: GreenPeace Report

The GreenPeace Report puts technology companies into groups of energy use: Dirty Energy, Middle Of The Road and Green Innovators. As an analyst, we talk a lot about the newest types of software, computers and gadgets of which need energy to run. And there is real resurgence of entrepreneurial spirit, where people are looking to feel satisfaction from the work they do and make the world a better place, rather than just tolerating brain-numbing work for the sake a of paycheck, only to find enjoy somewhere else. With all the enthusiasm also comes a great deal of energy use that we may or may not be aware of.

According to the Kaufman Index of Entrepreneurial Activity (KIEA), the entrepreneurial rate in the U.S. is already well above the dot.com bubble of 15 years ago. From social media to music, streaming video, email and commerce, we are increasingly moving much of our lives online. But which companies are storing all of that data, and how are they getting the energy? Here’s who hosts some of the internet’s most popular sites and services in their data centers – and whether those companies are using dirty or clean energy. Find out how you can participate by following the hashtags #clickclean and download the full report and take action for a green internet.

Three Types of Energy As the expansion of technology is continuously accelerating, we are also creating a world where more and more energy is be required. There’s a term called Dirty Energy, which means the focus is only on efficiency and the company has taken few or no steps to switch to renewables. And the there’s the Middle of the Road, which are the companies that are taking steps toward a greener internet, buy not leading the way. And then Green Internet Innovators are the groups that are committed to 100% renewable energy. Their leadership is helping to make our lives, online and offline, greener.

Clicking Clean How Companies are Building The Green Internet

Clicking Clean How Companies are Building The Green Internet

The Green Internet Innovators Here’s one of the companies that is on the side of the green internet innovators.  Apple’s aggressive pursuit of its commitment to power the iCloud with 100% renewable energy has given the company the inside track among the IT sector’s leaders in building a green Internet. Apple has made good on its pledge by building the largest privately owned solar farms at its North Carolina data center, working with its utility in Nevada to power its upcoming data center there with solar and geothermal energy, and purchasing wind energy for its Oregon and California data centers. Apple’s commitment to renewable energy has helped set a new bar for the industry, illustrating in very concrete terms that a 100% renewable internet is within its reach, and providing several models of intervention for other companies that want to build a sustainable Internet. Download the full report. (Full disclosure: I have a relative that works at Apple.)

 Apple Energy Source 2013

Apple Energy Source 2013

 

How Facebook Uses Energy    Facebook continues to grow and dominate the global social media landscape with 1.23 billion monthly active users. Facebook has made huge strides forward since 2012 to become one of the clear green internet leaders. Radical improvements in transparency and efforts to deliver significant wind energy investment in Iowa have helped drive Facebook into the top tier of companies creating the green internet. By building on the advocacy it has started with energy utilities to drive more clean energy investment, and continuing to find ways to bring renewable energy to scale to power its data centers in North Carolina and Iowa, Facebook is setting a clear bar for other major social media networks and internet companies to follow.

How Facebook Uses Energy

How Facebook Uses Energy

How Google Uses Energy Google has continued to lead the major internet brands in purchasing renewable energy at scale to power its massive online ecosystem. The company is now reporting electricity consumption of 3,315 GWh, with 34% of its operations powered by clean energy. Google’s use of power purchase agreements to procure clean energy has been adopted by others in the sector, like Microsoft, and it has successfully influenced utilities in Oklahoma and North Carolina to offer new renewable energy options by using its immense business clout. As Google expands its footprint to Latin America and Asia, it will need to maintain its innovative edge to make sure that it continues to source clean energy even in countries that feature dirty electric grids.

Google Energy Sources 2013

Google Energy Sources 2013

Twitter falls between the types of companies that are clearly innovating in their use of energy sources and those that fall into the dirty energy collection. Twitter’s has changed the way people around the world communicate. Twitter does not yet own any data centers of its own, instead renting data center space from others. The microblogging platform has remained silent about the type and amount of electricity that is powering those data centers. Twitter remains at the bottom of the industry for energy transparency, disclosing no information about its energy footprint. Twitter lags behind its competitors in social media, Facebook, which took significant steps to increase transparency and increase its use of clean energy soon after it went public.

Twitter Energy Sources 2013

And on the side of the spectrum are copies that fall into the Stuck in dirty energy past ways of providing and using energy. One example is Digital Realty Trust (DRT)  which is the largest digital landlord in the world, with 131 data centers worldwide, roughly three-fourths of which are located in the US. Digital Realty operates on the wholesale end of the colocation spectrum, providing both entire data center properties to large customers like Equinix and Amazon Web Services, and also renting portions of facilities to meet the needs of large online properties such as Facebook, Rackspace, Salesforce, Google, Microsoft and Yahoo.

Digital Realtiy Energy Use 2013

So the question really is – as we build all this technology, are we really making the world a better place? We need / want technology to scale. But at what cost? CEO’s need to consider not only their new innovations in products and services, but also how they are leaving the environment. Are they leaving it in a better or worse state and at the end of the day, what’s the cost in the long run to these decisions.

@DrNatalie

 

 

 

 

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The CMO is Dead: CMOs Use Big Data To Become Chief Revenue And Innovation Officers

I know you’ve seen these types of dramatic headlines before: The CMO is dead. But in actuality, the roles in marketing, sales, and customer service that once governed how business “gets done” are shifting. This best practices report, Data-Driven Marketing Campaign Optimization is about how CMOs can use big data and analytics to transform marketing campaign decision-making and advance corporate innovation and revenue.

What’s driving this shift? A great deal of the shift in roles is being driven by technology that is now available. In attending many conferences over the years, especially in the last 2 years, the technology has changed very dramatically and delivers on many of the promises CRM (Marketing, Sales and Service) wanted to deliver on, but just honestly the technology wasn’t there yet via its fullest capabilities to do this.

Now that we have technology that can deliver more than ever before, we have to make sure that people know how to use it and use it well. You can read the rest of this blog post to understand my point of view on this or jump right to a snap shot of the report.

The Report: Data-Driven Marketing Campaign Optimization     The report is about how CMOs can use big data and analytics to transform marketing campaign decision-making and make better decisions about their businesses. It looks at how to ensure you’re using big data to optimize not just your marketing efforts, but your whole company. A few of the juicy tidbits from the report are that it:

  • Contains a 5 level evaluation marketers can use to determine how well they’re incorporating big data into their marketing efforts
  • Reveals how CMOs can use big data to enhance marketing decision-making and advance corporate innovation and revenue (Level 5)
  • Helps marketers contribute value to making the best possible customer experiences and drive higher customer lifetime values
  • Ensures Marketers become an essential member of senior leadership team that is responsible for driving revenue and showing that’s so by using data-driven marketing
  • Addresses the politics, the “not invented here” and the silly finger pointing (that should actually be a while collar crime) that often happens in companies…
Progression of Marketing Decision Making to Innovation and Revenue Creation

Progression of Marketing Decision Making to Innovation and Revenue Creation

CMO‘s Paradigm Shifting To Innovation and Revenue Officers     I know it’s often tough being a Marketer and not getting the credit due. You might find yourself suffering from what I call the Rodney Dangerfield Affect, meaning you don’t get enough respect in your organization. I get it. But let’s put that idea in the past. You can get credit; you just really need to know that there is a new way to do marketing and the tools and platforms are there to support you.

In the past CMOs were charged with top of the funnel activities, driving qualified leads to Sales. It was then Sales job to take the lead and close as many as they could. But just like we know the earth isn’t flat (old paradigm) revenue generation is now not just the mission of Sales (new paradigm). In fact, the CMO role is changing and changing fast. The reason? Because the technology today can show what the Marketer has contributed to the bottom-line. And that’s what you as a Marketer need to know and need to focus on— for your career and for your company.

While there’s lots more to cover in the transition from the old paradigm of Marketing as “top of the funnel” people – to the Chief Information and Revenue Officers— if you are a Marketer who is interested in the “new world”, this report is a good first step in taking a look at not only where your organization is at with respect to how they view marketing, but also how you, as a Marketer are approaching Marketing. I’ve created a 5 level of Marketing Automation and Campaigns capability matrix (see the above figure). Often times you may not know what level your organization is at or what else you could be doing. This maturity level overview helps you to see where you are and also what other levels you can achieve.

How Can You Get Started?

  • Begin to have a revenue mindset
  • As you choose technology, ask yourself, can I show how I generate revenue with this technology?
  • And if I have the right technology, how am I going to present that I am contributing to the bottom-line to the senior leadership team?

Change Means Politics Heat Up       As part of any change in an organization, you’ll want to be careful of organization change management issues that come up with change. The roles of Marketers and Sales are both needed and provide great value. But if Marketers are becoming Chief Revenue and Innovation Officers because they have a lot of data and know how to use it to close sales, make sure to think through how that might affect other departments (Sales, IT, Customer Service…) And if / or when Marketing transforms into a “Revenue and Innovation Organization” what now is the role of Sales, IT and Customer Service?

Redefining Roles    In one particular company that I worked with on this this transformation, Marketing became responsible for the top and middle funnel revenue drivers. Sales then transitioned into executive account management and renewals: they were really the relationship builders and maintainers. And Customer Service delivered on the “promises” made by Marketing and Sales by integrally working together with Marketing and Sales. This meant that all three departments knew what their new roles were and the importance of customer lifetime value (CLTV). They knew that all three department’s goals were to collaborate to increase CLTV so that customers, whether it was a B2B or a B2C company, spent more time and money with the company over longer periods of time- hence increasing the customer life time value.

What business experts are really striving for with Big Data is to create blue ocean strategies where the competition is irrelevant; we learned that from the authors of the Book, Blue Ocean Strategies,  W. Chan Kim and Renée Mauborgne. We also learned from W. Edwards Deming, that if we listen to our customers and our employees and take that data, we’d have better products, services and companies — which help to build companies that become their own marketplace or live in an uncontested market space. And that’s what can be done with all the data that we have today — if CMO’s know what to do with it.

Making Cross-Functional Collaboration The Most Rewarded Executive Activity    In this particular company, when cross-functional collaboration was a primary part of their culture, Marketing wasn’t spending millions of dollars to acquire customers only to have the other departments provide such poor relationship building and service that the customer’s defected. Instead they made sure that once the customer had bought and come on board, Customer Service delivered on promises by Sales and Marketing. (In your company, it might mean people in these departments have to talk to each other…) Now that’s an interesting concept!

This is just one company’s take on how they approached these issues. I’d love to hear what you think about the report. There’s much more I could / need to cover in this area. This report just a first look at the idea of CMOs transforming into Chief Intelligence and Revenue Officers.

@DrNatalie

Skype: drnatalie007 | LinkedIn | Google+

Catch my latest:
• Thoughts at www.DrNatalieNews.com 
• Upcoming book series: “7 Steps To Digital Customer Experience Mastery” (working title) 

SAVE THE DATE!
Constellation’s 4th Annual Connected Enterprise 
The Executive Innovation Conference | October 29th-31st 

Half Moon Bay, CA | Ritz Carlton
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Adobe Summit March 24-28, 2014 | Salt Lake City, UT

I’m looking forward to attending the Adobe Summit this year in Salt Lake City. Thinking about join me? Here are the top reasons why you should attend:

  1. Make the most of every opportunity

    Summit will give you the inspiration, tools, and know-how to find and maximize every marketing opportunity so you can increase your impact and your revenue.

  2. Learn from the experts.

    Summit sessions and labs are taught by some of the most innovative marketers from top companies around the world. This is your opportunity to learn from their years of real-world experience.

  3. Find solutions to your specific marketing issues.

    Learn how to tackle your own marketing and data issues as you see Adobe Marketing Cloud in action. You’ll leave with specific skills, best practices, and strategies you can put to work immediately.

  4. Be among the first to know.

    Summit is where we discuss the latest trends and news in digital marketing. Be the first to witness this year’s product announcements, news, and industry trends from the Adobe Marketing Cloud community.

  5. Network with leading marketers.

    Summit brings together the best marketers and advertisers from all industries, and we’ll showcase some of our most innovative partners in the Community Pavilion. Make time to stop by and learn about their new technologies.

  6. Spend face-to-face time with Adobe Training Services, Adobe Customer Care and Adobe Consulting.

    Upgrade your skills. When you register for Summit, you’ll have the opportunity to sign up for Adobe Marketing Cloud classes delivered by Adobe Training Services. Add an extra day or two at Summit and receive hands-on training that will help you get even more value from your Adobe technology.

  7. Customize your learning.

    With eight content tracks, you can easily organize and customize your week to attend the breakout sessions you need, so you can learn the latest skills relevant to you and your company.

  8. Put yourself ahead of the pack.

    Time invested at Summit will pay dividends to you today, and for your continuing career, as you gain valuable knowledge and skills. You’ll already be where your peers and competition are trying to arrive.

  9. Enjoy evening parties and entertainment.

    Once you’ve soaked in all you can from the keynotes and breakouts, the day will be far from over. Use the evenings to meet other marketers, and enjoy big name performers have the Summit Bash. Previous Summit performers have included Maroon 5, the Killers, Lenny Kravitz, Foster the People, and the Black Keys.

  10. Unwind on the ski slopes.

    Your Summit registration allows you to request a complimentary lift ticket for Friday’s Ski Day. (Ski rental equipment can be added during registration for a nominal fee; however there are a limited number of rental packages available).

Decided to join me? Register here!

Dr. Natalie Petouhoff 

How to work with Dr. Natalie  VP & Principal Analyst | Constellation Research, Inc.

How to work with Dr. Natalie at the Executive Success Firm

Dr. Natalie: voted Top 20 In Social Media HuffPo
Voice:  +1.310.919.8467  | Twitter: @drnatalie |

Skype: drnatalie007 | LinkedIn | Google+

Catch my latest:

• Thoughts at www.DrNatalieNews.com 

• Upcoming book series: “7 Steps To Digital Customer Experience Mastery” (working title)

• My Book: Like My Stuff: Tactics to Monetizing Facebook Engagement and

• 3rd Most Download ebook: Myths, Truths of Social Media ROI

SAVE THE DATE!
Constellation’s 4th Annual Connected Enterprise 
The Executive Innovation Conference | October 29th-31st Half Moon Bay, CA | Ritz Carlton

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April 7-9 2014: Marketo Marketing Nation Summit

I’m thrilled to be attending the Marketo Marketing Nation Summit 2014. Here is more information if you’re interested in joining me:

Conference Information

Without question, the Marketo Marketing Nation Summit 2014 will be the Marketing Event of the year. Join the Marketing Nation as over 3,500 of your peers, colleagues and thought leaders gather to celebrate Innovation in the Nation. Located at Moscone Center – West , in the heart of San Francisco’s Financial District, the Marketo Marketing Nation Summit 2014 will provide an engaging experience to grow your expertise and network over two and a half days. Connect with ideas, marketers, and resources to help YOU achieve success faster!

Moscone Center – West , San Francisco California

Moscone Center – West is a visually stunning and expansive three-level exhibition hall, conveniently located near fine dining, shopping, museums and more. As the heart-center of the Marketo Marketing Nation Summit 2014, Moscone Center – West will be buzzing with life and will serve as a vibrant backdrop where connections will be made over two and a half days.

Moscone Center – West 
800 Howard Street
Located at the corner of Fourth and Howard Streets
San Francisco, CA 94103

Conference FAQ’s

Why should I attend?
The Marketo Marketing Nation Summit 2014 will deliver dynamic and rich content along with key takeaways that will prove to be an incredible investment to your business. Learn how to implement and use the latest features and see what’s on the future horizon at Marketo. Develop deeper relationships with your contacts and marketing experts by gaining mastery over innovating lead generation, campaign management, social media strategies and analytics.

Social Networking Parties
Learn during the day, relax network and socialize in the evening! Registration opens Monday, April 7th followed by our Marketing Nation Kickoff Party. On Tuesday, April 8, join us for Happy Hour in the Marketing Nation Expo before being shuttled to our Customer Appreciation Party! We have an incredible night planned, so stay tuned for more information.

Registration Information

What is the registration fee?

  • Early Early Bird:$795 until December 15, 2013
  • Early Bird:$895 from December 15 until February 15, 2014
  • Standard:$1,195 until April 2nd, 2014
  • Onsite:$1,595

Can I register in person at the event?
Absolutely, however at this year’s event seats will be in high-demand so we recommend that you register early to secure your spot. Onsite registration is $1,595.

Is a group discount available?
Yes, simply email to info@marketoevents.com the names of the 10 or more attendees from your company and you get $200 off each registrant. You will receive a discount code of $200 off to register for each person. You must register all 10 people within one week of receiving the code.

Will Marketo close registration at any point?
Registration will close on Wednesday, April 2, 2014 at 5:00 p.m., PST. If seats are available after registration closes, onsite registration will be available for the price of $1,595.

What is included in my registration fee?
Access to the Marketo Marketing Nation Summit 2014 which includes keynote sessions as well as customer success tracks. The program begins at 5:00 p.m. on April 7 and will end at 5:00 p.m. on April 9. Registration fee includes admission, food and beverage during the daytime sessions and access to the Social Networking Parties.

Does the registration fee include travel costs for the conference?
All travel costs including air and hotel accommodations are the responsibility of the attendee. Marketo has secured a block of rooms at a discounted rate of $267 (Classic) / $277 (Deluxe) at the Hilton San Francisco, the host hotel. To reserve your rooms, please click here.

Is there an additional charge to attend Summit University Day?
Yes, there is an additional charge to attend Summit University Day. The registration prices are outlined below:

UNIVERSITY
Early Bird: $595 (until February 1)
Regular: $695 (February 2 – April 2)

CERTIFICATION
Early Bird: $100 (until February 1)
Regular: $125 (February 2 – April 2)

How is my registration confirmed?

After completing registration, you will receive a confirmation email with your registration information and your invoice attached.

What forms of payment do you accept for the conference fee?
Visa, MasterCard, American Express, wire transfer and company checks are all accepted.

If I can’t attend, can I substitute my registration?
Yes. If you are unable to attend, you may substitute one colleague’s name per registration. All substitutions must be received in writing prior to Monday, March 16, 2014 and will incur a fee of $50. After this date, all substitutions are subject to a $100.00 (USD) processing fee. Please submit substitution requests to info@marketoevents.com and include the following information for the new registrant: Name, Job Title/Position, Work Address, Work Phone Number and Email Address. A registration confirmation will be sent to the new registrant once the substitution is confirmed.

What if I have to cancel?

Registration cancellations received in writing by 5:00 PM (Pacific Standard Time) prior to Friday, February 21, 2014, will be refunded, less a $150.00 (USD) processing fee. There will be no refunds for cancellations received after 5:00 PM (Pacific Standard Time) on Friday, February 21, 2014. Please send any information regarding cancellations via email to info@marketoevents.com.

Look forward to connecting

Dr. Natalie Petouhoff 

How to work with Dr. Natalie  VP & Principal Analyst | Constellation Research, Inc.

How to work with Dr. Natalie at the Executive Success Firm

Dr. Natalie: voted Top 20 In Social Media HuffPo
Voice:  +1.310.919.8467  | Twitter: @drnatalie | 

Skype: drnatalie007 | LinkedIn | Google+

Catch my latest:

• Thoughts at www.DrNatalieNews.com 

• Upcoming book series: “7 Steps To Digital Customer Experience Mastery” (working title) 

• My Book: Like My Stuff: Tactics to Monetizing Facebook Engagement and

• 3rd Most Download ebook: Myths, Truths of Social Media ROI


SAVE THE DATE!
Constellation’s 4th Annual Connected Enterprise 
The Executive Innovation Conference | October 29th-31st

Half Moon Bay, CA | Ritz Carlton

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HootSuite Launches Managed Social Media Security & Compliance Service for Enterprises

HootSuite Managed Security & Compliance Services educate and empower enterprises to protect their brand and reputation

To help enterprises protect their brands as they scale social media across their organization, HootSuite has announced the launch of its Managed Security and Compliance Services. This new offering provides organizations with security and compliance tools to protect their brand and social media assets from internal and external threats. This is critical that organizations figure out social compliance. It’s one thing to focus on engagement of your customers. It’s another to make sure that ALL the engagement is of the type of engagement is “on brand” and keeps the brand in integrity.

“While businesses have adopted social media in record numbers, the lack of governance puts enterprises at risk for online security and compliance breaches,” says Greg Gunn, VP Alliances, Business Development, and Platform at HootSuite. “Our new managed services are designed to equip the enterprise with the right tools and response plans so they can safely use social media to grow their business while protecting their brand.”

HootSuite’s Managed Security and Compliance Services creates a secure, complete environment for policy management and enforcement across an enterprise’s entire organization, protecting its brand and data against a full spectrum of security and compliance threats. This is even more important for organizations within regulated industries such as finance, healthcare and insurance, as well as those that are publically traded and require persistent monitoring of their brand reputation.

Who’s using it? Check out ING DIRECT. “The nature of social media means that your brand’s reputation is often at risk,” says Jaime Stein, Senior Manager of Social Media at ING DIRECT. “Therefore, it’s important to have your team aligned and prepared to handle any situation that could compromise customer service or brand reputation. HootSuite’s Situational Simulation prepared our communications team for our recent company re-naming launch so that when it took place, our team was able to handle the response from our clients and the public effectively and efficiently.”

HootSuite’s new Managed Security & Compliance Services features include:

  • Social Media Asset Audit: Identify and govern both authorized and unauthorized social media profiles. The audit creates an Access Control Map, which allows administrators to outline legitimate profiles and determine which users can post to those profiles. We also help to remove illegitimate profiles to restore brand reputation.
  • Situational Simulations: Create a response plan for managing situations that could cause a drastic spike in activity volume on Twitter or Facebook. The exercise then engages users across the organization to react to a social media surge in a controlled environment using the HootSuite dashboard. Upon completion, HootSuite provides an executive summary and recommendations on ways to enhance the process and strategy.
  • Social Media Profile Monitoring: Monitor company-owned social media profiles for any security and compliance breaches. This ongoing service provides custom notifications when changes are made to account profiles to provide prompt alert if a hijacking occurs, and real-time content moderation to ensure all content conforms with predetermined compliance policies.

To learn more about managing risk in the enterprise, sign up now for HootSuite’s live webinar, “Managing Risk In a Social Organization: What Every CIO Needs to Know,” on Tuesday, March 11, 2014 at 11:00 a.m. EST. The webinar will feature insights from Nick Hayes, Security and Risk Analyst at Forrester Research; Lissette Santana, Branding and Stakeholder Communications Manager at PPL Electricity; and Sharad Mohan, Director of Customer Success at HootSuite.

More information:

 

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Excerpt from “The Social Engagement Rankings of the Top 15 Cosmetic Brands”

Why did Facebook develop EdgeRank?

Are you one of those brands spending hundreds of thousands or millions of dollars on creating content for social media interactions? Facebook themselves admits the average brand page only reaches 16-17% of its fans. Data from PageLever shows that for brands with millions of fans, even less of their fans see the content. They estimate the content only reaches ~3% of their fans. Why is this so? It’s because of an algorithm, EdgeRank, that calculates what posts to filter out.

When Facebook allowed brands to have pages, brands began posting a lot of content. Facebook users felt there was too much content coming at them, almost so much that it felt like spam. As a result, Facebook created a filter that determines who sees particular posts. There are three parts to the filter.

The first part of the equation, affinity, takes into consideration how much time you spend interacting with certain friends, groups and pages. If you are spending a lot of time interacting with them, then your affinity will be stronger. The next piece of the puzzle is about weight. Weight is essentially the level of interaction a piece of content gets. For example how many likes and comments. And the last piece to the puzzle is time. Over time, a post’s relevance decays making it less important, pushing it down the feed.

What are the three big problems around content and engagement?

1. Creating great content so fans will want to interact with it

2. Creating a lot of that great content

3. Promoting the content

The truth is most brands don’t have the budget to create enough great content to be effective at engaging their customers. What makes matters worse, in addition to a content creation budget, you also need a promotion budget. And the cost to promote content can become prohibitive.

cosmetic

How much does it cost a brand to send a Sponsored Posts or Stories?

One sponsored story from Facebook costs $200

• Let’s say the brand posts 2 times per day

• $200 x 2 = $400/day

• 7 days/wk x $400/day = $2,800/wk

• 4 wks/mo x $2,800/wk = $11,200/mo

• 12 mo/yrs x $11,200 = $134,400/yr

• $134,400/ yr just to get your content seen!

And that doesn’t include the cost of the:

• Creative

• Content production

• Content delivery systems (like Buddymedia)

• Community managers

How Do I get EdgeRank to work in my favor and rise above my competitors in the cosmetic industry?

• EdgeRank gives greater exposure (reach) to posts that are more engaging

• Boring posts decrease your reach and thus your bottom line

• The solution is to create more interesting posts

 

What makes a better post in the cosmetic industry?

Here are some hints. It’s the ability to:

Benchmark engagement performance vs. your competitors in the cosmetic industry

Surface the best content and content types to engage your target audiences in the cosmetic industry

Determine how frequently to post

Calculate the best days of the week and hours in the day to post compared to cosmetic industry competitors

Know when to post the right type of content to get the highest engagement in the cosmetic industry

 

Dr. Natalie’s Executive Success Acceleration Firm™
Executive Business Strategy Advisor & Social Customer Experience Industry Authority & Consultant

The Doctor Knows Social Media ROI & Our Business Strategies Rx Get Results!
Our Motto? Be Awesome by: Learning, Sharing & Growing!

What we do: We work with companies to deliver increased revenue and decreased costs:

  • Executive Leadership Guidance on Strategy and Business Use of Social Media
  • Social Media / Business Benchmark Assessments – Tell you what you got/ what you might consider
  • Social Media ROI – set-up measurement capabilities and dashboards
  • Workshops on Business Strategy: Customer Experience, PR, Marketing, Customer Service & Internal Employee Advocacy
  • Instructor MEMES Summer Institutes at UCLA Anderson & UCLA Extension
  • Customer Experience / Social Customer Service Excellence Benchmarking Assessments & Advisory
  • Software Company Visualized-ROI, Persona-based Solution Selling w/ Targeted USP & Messaging / ebooks, White Papers, Webinars…
  • Social Media Training, Organizational Change, Motivation and Goal Setting

My book: Like My Stuff: How To Monetize Your Facebook Fans

Follow Me Here:
Twitter: @drnatalie
LinkedIn:
DrNataliePetouhoff
G+ :
Google Plus posts
Facebook:
DrNatalie Petouhoff

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Excerpt from “Like My Stuff”: Why Do Business on Facebook?

Why is it important for brands to have a Facebook e-commerce capability? Mike Fauscette, an Analyst at IDC Consulting says, “In three to five years, 10 percent to 15 percent of total consumer spending in developed countries may go through sites such as Facebook.”

 

Why might Fauscette make this prediction? Facebook users spend 700 billion minutes per month in an active, relaxed environment. The average Facebook user is connected to 130 friends. They belong to 80 interest groups. Through their detailed profiles and by posting on average 90 pieces of content per month, Facebook users make their preferences known. Word-of-mouth (WOM) recommendations or buyer-beware messages are prevalent.

 

Today’s social customer is not shy about posting their thoughts about a brand, its products and services, or the experiences they have with the brand. The unique selling opportunities Facebook can offer has gotten the attention of digital marketer’s and PR professionals. As social media plays an increasingly more important role in purchasing decisions, brands are allocating larger parts of their marketing budgets to engage with their consumers on platforms like Facebook and Twitter.

 

Many brands, big and small, are wondering if they should go down this path. How is this different than the e-commerce they already offer? And does f-commerce mean that you have to get rid of your traditional e-commerce platform? Are there pitfalls to social commerce or commerce on Facebook? It’s these and other questions we will address in this e-book.

 

Be Where Your Customers Are

For many brands, Facebook is where their customers are online. And the mantra in social media? A brand needs to be where their customers are within the social net. A brand can’t expect that their customers will come to them (or their site.) The theory of f-commerce is that customers should be able to buy wherever and whenever they like. If they are on Facebook then they should be able, among many other things, to purchase products while they interact with their friends and family.

 

Some people have questioned whether it’s even possible to sell customer products in the midst of them using Facebook to catch up with their friends and family. Perhaps that’s all people want to do while on Facebook, i.e., they don’t want their social network to sell them stuff while they are socializing. And if that is the case, then perhaps brands should keep their commerce offerings on their e-commerce sites.

 

However, while some people are of the opinion that people visit Facebook just to catch up with their friends and family, a  JWT (James Walter Thompson) study showed that 48 percent of millennials (aged 20–33) would like to buy directly on Facebook from the places they shop. In a another study industry study, 25 percent of customers aged 18–34 years old stated they use Facebook to interact with merchants. How many companies are planning to increase their funding for social commerce according to this study? Ninety percent will increase funding for social commerce initiatives by 8 percent.

 

There is a trend, and that trend is the blending of social networks with e-commerce. The skill with which brands do this will directly affect the success not only for their own individual brand, but for the industry as a whole. If social networking shopping sites are not delivered in the spirit of what the customer wants, it will fail. If not for this point alone, brands need to pay attention to f-commerce as an example of how shopping can be integrated within a social network.

 

The Future of One-Stop Facebook Shopping

So let’s say you have a vacation coming up. You want to look for good rates on airline tickets. What’s the difference between logging onto an airline website vs. being able to research and purchase tickets inside of an already established social network? First, you may want to ask your friends what airline they flew on, how the service and food was, and what to watch out for. You might find that information on a travel site, but you may not be able to ask your friends their opinions.

 

So the point is that when you are on a regular e-commerce site you may be just getting the “take” from people you don’t actually know. This input is important, because you aren’t just trusting the brand’s marketing spin. You are getting the take of other human beings. But on a social networking site you are connected to your friends and your friends know you and the things you care about the most. You also might want to make plans with a group of people and instead of sending a bunch of e-mails, you might want one place for everyone who is going on the trip to chime in, to plan, and to orchestrate the festivities. Doing so could make coordinating lots of people easier and fuel the enthusiasm for the trip.

 

If you went the traditional route, you’d think about which airline you think you’d like to travel on. You might also think about your favorite travel site, knowing that there are a number of them that aggregate fares and try to provide the best possible deal. So you make your choice and log onto the airline or travel website.

 

Hopefully you’ve saved your log-in name on the computer you are on or you can remember it. It might depend on whether you’ve been to that site before or not. That might also depend on whether you have an account with them or not. If you can’t remember your log-in name then you have to either ask for a password reset or log in as a guest. The first option takes time. Not a lot of time, but it can “feel” like a hassle with all the sites and passwords we all have these days.

 

Once you’ve chosen that path, then you start your search for dates and times for your destination. Once you’ve researched that, you choose a flight and pay for it. Then there’s the step of entering the payment information. That entails your credit card or PayPal-type account information, your billing address and TSA information. If you are renting a hotel and/or a car, that same payment scenario might have to be repeated for each of those transactions unless it’s integrated.

 

In this short scenario, using Facebook could help to lessen the hassles of the travel transactions. With Facebook’s f-commerce tools, you could get the opinion of your friends about each travel item: airline, hotel, car rental, even restaurants in the area. Then you could just hit a Facebook button for each—either while on your laptop, desktop, tablet, or phone and be on your way.

 

Why? Because you are already logged into Facebook, and so have a community of like-minded people to help. Then, since your identity and payment details are already authenticated within Facebook, completing the transaction is as simple as pushing a few appropriate buttons.

If your business could take advantage of f-commerce to make your customer’s experience as quick and easy as possible, think about the spike in revenue you’d get.

 

Social Network Fatigue and Opting for F-commerce

The business decision to use Facebook as part of your e-commerce strategy depends on where you think your customers are going to be online. With more potential consumers on Facebook than there are people logging into eBay and Amazon combined, many companies are betting on the fact that once customers are in Facebook they won’t want to leave to shop. With the number of sites people log into each day, this may well be the trend of the future—meaning that people are starting to suffer from social network fatigue.

 

The reasons for this fatigue include how time consuming it is to log into a bunch of different sites as well as to remember your passwords. Another contributing factor is time allocation. One of the things that most people don’t talk about is the amount of time out of their life social networking takes. While it may be easier to keep in touch with more people and see what is happening with them via Facebook, Twitter, Google+, and LinkedIn, it does takes time out of one’s day.

 

Having too many social networks means that people may not want to go to a bunch of different sites or URLs. If people have the choice to log into one place to interact with their friends and family and then are required to go to other places to shop, they may opt to participate in a social network that includes not only their favorite brands, but also the ability to buy products and services from them.

 

How Facebook Could Provide Better CRM

Knowing who the people are and details about them allows Facebook to provide customers with an interesting and entertaining online experience, but also provides businesses with information on likes, dislikes, and preferences in the context of their personal and professional relationships. This is different than the data businesses have gathered from traditional Customer Relationship Management or CRM systems.

 

CRM is an acronym that stands for the relationships companies build with their customers during and through the process of marketing, sales, and service. Having social data augment the CRM system could constitute what many call social CRM. While there isn’t any one vendor that truly provides best-in-class social sales, social marketing, and social customer service all in one suite, the concept of combining social data with traditional CRM data could be the missing link to driving more customers through the marketing funnel and getting a return on investment for social media.

 

Facebook Social CRM
Social networking sites like Facebook have massive amounts of individual and social crowd data. That data means something because people have signed up using their real identity. In forums or other crowd-oriented communities, people sometimes remain anonymous. So one of the first advantages of f-commerce is that people are using their real identities.

 

In addition, Facebook started as a site to connect with other people and part of finding people to connect with is to see what they have in common other people. Most people who put up a Facebook page include some personal preference information. This initial data can be very important to companies in understanding their customer’s behavior through knowing about their hobbies, what they like in music, food, travel, and a wide variety of other interests.

 

Companies using Facebook as a marketplace not only have people who have identified themselves, but also user data and analytics that reveals what people talk about, and with the right analytics a business could extract even more data about them as potential customers.

 

Many businesses have just focused on using that data to display hyper-targeted ads. And while there is value for this, the idea that Facebook could be an online virtual mall where friends ask friends what to buy, share what they bought, and thereby influence word of mouth is a reality for many brands.

Like My Stuff_Guide To Facebook Commerce by @DrNatalie Petouhoff

Facebook’s Potential for One-to-One Marketing

One-to-one marketing has long been the dream of many marketers. In fact two of my favorite authors, Don Peppers and Martha Rogers, wrote several books about it, including The One-to-One Future: Building Relationships One Customer at a Time, and The One-to-One Fieldbook: The Complete Toolkit for Implementing a 1-to-1 Marketing Program. The theory was that with competition for customers fiercer than ever, with products and services only a mouse click away, with so many choices, and with many products becoming commodities, customers’ loyalty changed. As a result, the way a brand could attract and keep customers would be to personalize how they marketed and sold to a customer. That field of endeavor became known as one-to-one marketing.

 

While most brands bragged about how customer-centric they were, in reality many were at a loss for identifying and attracting a loyal and profitable customer base. CRM (Customer Relationship Management) systems back in the late 1990s were supposed to provide the infrastructure necessary to support one-to-one marketing. There was a lot of marketing hype around the features, functions, and benefits of CRM software.

 

The issue with CRM systems then was that they were more like a CTM, or customer transaction management system. They didn’t have all the rational database information that marketers could readily use to provide personalized relationship marketing and certainly not enough of the personalized, one-to-one marketing data.

 

Most companies implemented operational CRM, meaning they had a database of contact information about their customers. And that information definitely helped with marketing. But most companies didn’t deploy analytical CRM, meaning the type of CRM that would provide the analytical wisdom about your customers to enable one-to-one marketing and sales. Out of the frustration for the lack of that data developed the field of business intelligence or BI. Separate BI point vendors began to specialize in gathering and mining data about customers to be used to drive customers through the marketing funnel. An industry that was successful at this was the Las Vegas casino system. They developed loyalty programs that could measure the offers sent to customers and subsequent behaviors. Studying these patterns allowed marketers to direct their one-to-one marketing efforts very effectively. But most industries failed to excel in one-to-one marketing.

 

Fast forward to today, where we now have Web 2.0-type technologies that allow interactions between brands and customers. With the enhanced Facebook Open Graph API and supporting tools that it announced in April 2010, Facebook can be seen as a social CRM system. This is especially true if you define CRM as the opportunity to do personalized, one-to-one marketing, sales, and service. What has been missing in CRM is the relationship between the customer, their likes, dislikes, and their friends and family in a context where their reactions and comments are honest, authentic, and updated daily.

 

Facebook API: A Graph of What People Care About

Imagine that Facebook is a graphical representation of connections between people, photos, liking, sharing, commenting, shopping, and the interrelatedness between them and their friend and family relationships liking, sharing, commenting, and shopping. If you took a picture of each of those things and pasted it on a piece of poster board, you’d have a visual representation of that person’s life and what’s important to them as well as poster boards of their friends and families and what is important to each of them as well as the overlaps in interests. This is called a “social graph.”

 

Facebook offers businesses a way to connect to that information via an API. An API is an acronym for application programming interface. Instead of having to write a bunch of complicated code to connect to the data, you just have to connect to the API. The API provides a much simpler way to access the information.

 

The Facebook Open Graph API allows you to easily access all public information about a person. This means that it can retrieve the likes and interests of your customers, and your customer’s Facebook connections. And thus the social graph data provides marketers new ways to understand a customer’s preferences, passions, and connections and by doing so allows a brand to create a personalized experience with each and every customer.

For instance, a customer might live in Los Angeles, listen to Sting, work at Citibank, ride bikes along the Santa Monica Pier, eat at the Cheesecake Factory in Marina Del Rey as well as connect with their network of friends and family. With the Facebook Open Graph API, brands can make personalized offers to that individual based on the information he or she has shared on their page.

 

Deals that might interest this customer are mortgages or refinancing information from Citibank, coupons for free drinks at Cheesecake factory, a sale on bikes or bike accessories, and a special appearance by Sting on the Santa Monica Pier. With contextualized data like this, brands can customize their marketing campaigns based on the information customers share about themselves.

 

Another example is that a brand might show the upcoming birthdays of Facebook Friends as well as their gift Wish List. How would a brand populate this list? The brand can access that friend’s profile data, which might include a list of their favorite electronics, clothes, food, and music as gift suggestions. Normally, it would have to create a system that would ask the customer directly about their favorite items, then get permission to use this information. The Social Plug-ins, mentioned earlier in this chapter, allow a brand to build the social graph by seeing what the customer “Liked” on Facebook. That is assuming the customer opts to share this information publicly among their own individual group of friends. Brands seeking to use this information would need to ask the Facebook member to share this information with them as well.

 

The downfall to getting data is the individual Facebook privacy setting. Each Facebook page’s privacy settings are handled and decided upon by the customer who owns the page. Customers are asked to provide permission to allow their page to be seen by the brand. This determines who can see what. I’ve included some screenshots in the case studies in the following chapters so you can see how brands ask for permission to see what a customer is talking about.

 

Dr. Natalie: voted Top 20 In Social Media HuffPo
Dr. Natalie’s ebook: voted as one of the Top Ten Most downloaded Social Media ebooks- On smROI

Click here to watch my videos on Social Media ROI:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media
Video 3: How Social Media Benefits the Whole Company


Dr. Natalie’s Executive Success Acceleration Firm™
Executive Business Strategy Advisor & Social Customer Experience Industry Authority & Consultant

The Doctor Knows Social Media ROI & Our Business Strategies Rx Get Results!
Our Motto? Be Awesome by: Learning, Sharing & Growing!

What we do: We work with companies to deliver increased revenue and decreased costs:

  • Executive Leadership Guidance on Strategy and Business Use of Social Media
  • Social Media / Business Benchmark Assessments – Tell you what you got/ what you might consider
  • Social Media ROI – set-up measurement capabilities and dashboards
  • Workshops on Business Strategy: Customer Experience, PR, Marketing, Customer Service & Internal Employee Advocacy
  • Instructor MEMES Summer Institutes at UCLA Anderson & UCLA Extension
  • Customer Experience / Social Customer Service Excellence Benchmarking Assessments & Advisory
  • Software Company Visualized-ROI, Persona-based Solution Selling w/ Targeted USP & Messaging / ebooks, White Papers, Webinars…
  • Social Media Training, Organizational Change, Motivation and Goal Setting

My book: Like My Stuff: How To Monetize Your Facebook Fans

Follow Me Here:
Twitter: @drnatalie
LinkedIn:
DrNataliePetouhoff
G+ :
Google Plus posts
Facebook:
DrNatalie Petouhof

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Reduce Support Costs With A Customer Community: Increase Agent Efficiency (Final Part)

Community-Based Support Compliments the Contact Center

Community-based, social support doesn’t have to exist in a

bubble—it’s a great way to complement and complete agent-based

support strategies. Let’s say, for example, that your software

product is acting a little buggy when it’s used with a certain

operating system.

 

A customer can’t figure out what to do, so he

calls in and gets an answer. A couple weeks later, someone else has

the same issue, but they post in the community instead. This might

be a younger or more tech-savvy customer who prefers to reach

support online, or maybe they just did a quick Google search and

were brought to the community that way. The customer who called

support originally sees the post and reports what the phone agent

told them as a response to the community topic.

 

Now the answer exists in the community as a resource for

everyone in the future who has this problem. They can discover it

through search or by going there directly. Each person who sees

the answer is equal to one fewer call to an agent.

saving time 1

Community as the Canary in the Coal Mine

Until recently, support was strictly reactionary. With the adoption

of community as a key support tool, we’re seeing entire support

organizations evolve from reactionary “fixers,” to agents working

collaboratively with community members to identify bugs and

issues before they come become widespread problems.

 

When your agents are on the front lines, getting real-time feedback

about the things that aren’t working, they can be prepared to

address them fully and effectively with others who are likely to be

experiencing the same issue. This saves the agents time and stress,

as they have deeper, more immediate insight into where things

are breaking down before they get on the phone with an angry

customer.

 

And the fact that the agent is already aware of issues and

possible solutions before they take that call means the customer is

more likely to get off the phone feeling like they’re in good, capable

hands.

saving time 2

Close the Loop

As any good support agent knows, it’s not just important to provide

customers with immediate assistance, but also to close the loop

and keep them updated about new developments as well. This may

be when a bug has been fixed, a new feature has been released or

rolled back, or a work-around has been uncovered.

 

A customer community makes it fast and easy to provide your

customers with the most up-to-date information. What previously

would have required individual emails, Tweets, or status updates,

now can be accomplished with one simple community update.

 

You can post a company update for big notifications, or just post an

“official reply” to a topic, so everyone who has expressed interest

in that topic will get an email notification of the update. That also

means that when the next person who experiences that issue

comes to your community, they will find the answer waiting for

them there. How’s that for efficiency?

Dr. Natalie: voted Top 20 In Social Media HuffPo
Dr. Natalie’s ebook: voted as one of the Top Ten Most downloaded Social Media ebooks- On smROI

Click here to watch my videos on Social Media ROI:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media
Video 3: How Social Media Benefits the Whole Company


Dr. Natalie’s Executive Success Acceleration Firm™
Executive Business Strategy Advisor & Social Customer Experience Industry Authority & Consultant

The Doctor Knows Social Media ROI & Our Business Strategies Rx Get Results!
Our Motto? Be Awesome by: Learning, Sharing & Growing!

What we do: We work with companies to deliver increased revenue and decreased costs:

  • Executive Leadership Guidance on Strategy and Business Use of Social Media
  • Social Media / Business Benchmark Assessments – Tell you what you got/ what you might consider
  • Social Media ROI – set-up measurement capabilities and dashboards
  • Workshops on Business Strategy: Customer Experience, PR, Marketing, Customer Service & Internal Employee Advocacy
  • Instructor MEMES Summer Institutes at UCLA Anderson & UCLA Extension
  • Customer Experience / Social Customer Service Excellence Benchmarking Assessments & Advisory
  • Software Company Visualized-ROI, Persona-based Solution Selling w/ Targeted USP & Messaging / ebooks, White Papers, Webinars…
  • Social Media Training, Organizational Change, Motivation and Goal Setting

My book: Like My Stuff: How To Monetize Your Facebook Fans

Follow Me Here:
Twitter: @drnatalie
LinkedIn:
DrNataliePetouhoff
G+ :
Google Plus posts
Facebook:
DrNatalie Petouhof

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Share