ROI of Social Media White Papers by Dr. Natalie Petouhoff

I thought I would post the white papers here… In case you want to see how ROI can be calculated…
Lot’s of people have done studies to show that maybe people are being required to calculate the ROI — others have told me that while they are not being asked to calculate the ROI – that because the research that I and others have done, just knowing that there is real business value has helped them in their ability to convince their company to move forward. And others have said they used the information to calculate the ROI of their social media program…

So here’s some more brain candy!
Love to know what you think! And hope it helps to forward whatever you are doing!

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@drnatalie

Social_Customer_ROI_Guide_DrNatalie Petouhoff

IDC White Paper ROI OF Social Business Dr. Natalie Petouhoff

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Discount Code for @SMCLA / @SMC_LA Social Media Master’s Course in Social Media Monitoring and Measurement to Determine Business Value and ROI

If you are looking for some detailed information and education on social media, then consider the Social Media Club LA sessions! We have a great line-up of teachers with real-world experience! I’ll be teaching social media monitoring and measurement… The schedule is below!

If there is something particular you’d like to see covered under the section I am teaching – social media monitoring and measurement, please let me know! Here’s the discount code for 30% off: SMCLAX Use this when you go to sign up!

Look forward to seeing you there!
@drnatalie

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THE SCHEDULE and MORE DETAILS – where, who is teaching, etc…
Sept 9th, 9:00am – 6:00pm

  • Building Corporate Social Infrastructure with Sam Fiorella
  • Lessons from the Facebook Trenches: Thinking Beyond “Likes” with Matt Hicks
  • Online Community Building with Patrick O’Keefe
  • Social Business, Holistic Strategy with Chris Heuer
  • Social Media Monitoring and Measurement: Understanding How To Turn Data Into Business Insights with Data with Dr. Natalie Petouhoff
  • Are You Prepared to Weather An Online Crisis? How to map your brand’s social graph and identify threats and opportunities with Sally Falkow

Here’s a bit about each course….

BUILDING CORPORATE SOCIAL INFRASTRUCTURE
It’s no secret that C-Suite execs in most large businesses have been slow to acknowledge the social economy or to formalize and fund social engagements across their organizations. But the communication tidal wave that is social media cannot be stopped and many business silos have begun their own individual efforts given the lack of executive leadership in this area.

Be it Customer Service Managers scouring Twitter feeds, HR teams monitoring LinkedIn, Marketers advertising in social networks or PR Professionals engaging social influencers, most enterprises are engaged in social relationships through disjointed efforts initiated by the customer or customer-facing departments. Therein lies the challenge for enterprise leaders; and the opportunity if they accept this call to action.

How does the enterprise adapt to the internal communications changes that are pushing it to be more open? More social? The employee’s adoption of social communication does not translate well to the kind of work groups that are formed in most businesses. So the inevitable introduction of social networking-style communication into an office culture will have powerful implications on how businesses are structured and managed. But you need to understand how to enable it without losing control of your business’ corporate vision. In this session Sam will outline:

  • The challenges that social communications will place on your
    workforce and business silos
  • The needs, abilities and challenges of generational communications
    within the organization
  • Cross-silo methodologies used to embrace and take advantage of the
    changes in how people communicate

Using real examples from the corporate world, you’ll leave the session with a blue print for your own corporate cross-silo social communication plan.

LESSONS FROM THE FACEBOOK TRENCHES: THINKING BEYOND “LIKES”
The power of Facebook for businesses goes beyond the number of people who click “Like” to connect with your Page. It’s about building relationships where people want to engage with and share your content, and it’s about building an authentic persona for your company that talks with people on their terms. This session will explore how to make your Facebook Page and other activities more personal and engaging through a mix of real-world tips, case studies, demos and group exercises. Topics to be covered include:

  • Advanced features for managing and setting up your Page
  • Developing a voice for your Page and creating the best mix of content
  • How to compete for attention in News Feed
  • Emerging opportunities beyond the Page and off of Facebook

MAP YOUR BRAND’S SOCIAL GRAPH AND IDENTIFY THREATS AND OPPORTUNITIES
79% of business leaders in the U.S., Europe, Asia Pacific and Latin America say they believe their company is less than 12 months away from a potentially serious crisis fueled by online conversations and the 24/7 news cycle. Most expect it to occur with the next year, yet they admit to being totally unprepared to manage and survive a crisis.

Almost half of those polled say they are not effectively monitoring the online conversations. They have no idea who makes up their social graph and how the nodes in a social graph are connecting and influencing one another. They don’t know who the people who shape the conversation in each social node are, or how to identify them. (Source: 2011 Burson–Marstellar Digital Crisis Preparedness Report)

This session will cover:

  • What the social graph is.
  • How to map your brand’s social graph.
  • How to prepare for the Digital Storm Ahead: Find the right conversations to track, Identify the influencers in each node, Identify threats and opportunities, Build a community of supporters before you need them, Reach the friends of your fans and followers, Train your employees.

ONLINE COMMUNITY BUILDING
The question isn’t whether or not you have a community. Your community – the people who love and support what you do – is out there. The question is how you engage with them. In this session, we’ll talk about community management and engagement in spaces you control and spaces you don’t, from Facebook and Twitter to forums and blogs. This is the art of community building on the web, both the good and the bad, steeped in real world experience.

SOCIAL BUSINESS, HOLISTIC STRATEGY
After spending the past 12 years on the top of search results for “holistic business strategy”, Chris Heuer believes the day has finally come for his insights to become part of mainstream management thinking. As the disruption caused by social media reverberates across all aspects of organizational operations and culture, market leaders are turning to social business to transform the enterprise and seize a competitive advantage. The rise of social business is not only the sucessor to eBusiness, it signals the dawn of the post digital era. Today, being digital is expected, it’s the price of entry. If you can’t think holistically, collaborate across traditional organizational boundaries, optimize your organization to act as one and earn the trust needed to truly serve your market, your business may soon be extinct.

Chris will share his insights on how to think and act like a social business along with the perspective from his colleagues at Deloitte Consulting LLP on the dawning of the post digital era.

 

SOCIAL MEDIA MONITORING AND MEASUREMENT: UNDERSTANDING HOW TO TURN DATA INTO BUSINESS INSIGHTS
With Social Media and Digital Communications becoming part of how business gets done, businesses are wondering how should they use social media to enhance their business. When social media first started, companies reacted by putting up Facebook pages, signing up for a Twitter handle and adding a blog to their website and other basic social/digital interactions. Now the game has gotten far more complicated. Without a lot of knowledge or framework around how to make sense of all the social media and digital interactions, professionals from all walks of life—PR, Marketing, Customer Service, Production Development, Engineering, etc… want to know, “How does social media affect my business? Does it:

  • Increase Marketing conversion rates and Sales?
  • Reduce Marketing and Sales costs?
  • Reduce costs for building and maintaining brand reputation?
  • Shorten Product Development cycles?
  • Increase positive word-of-mouth and awareness?
  • Decrease agent-assisted calls in Customer Service?
  • Decrease overall costs by reducing items like return merchandise (RMAs)….

Yes, it does. And the question on everyone’s mind is How.” This session will use real-life case studies to illustrate with examples so you’ll leave with tools, tips, strategy and tactical capabilities to monitor and measure the success of your social media and digital communication programs. We’ll cover the how’s, the what’s and the why’s to social media monitoring and measurement:

  • Monitoring: What to monitor and why. Who and what to monitor. Where to find the audiences to monitor. Understanding what your audiences want and care about. What free social media monitoring tools to use. What paid social media monitoring tools to use. How to set-up social media monitoring searches to make sure you get what you need.
  • Measure: Once you have the data, how to turn it into business value. Secrets to taking data and turning it into insights. What metrics, key performance indicators (KPIs) and measurements you need. How to connect metrics, formulas and calculations. Social media ROI calculations, models and methodologies to show business value.
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The Making of the ROI Of Social Media Videos: The RSA Video Process

If you have seen the ROI of Social Media Videos, you may be wondering how the videos were made. So this post is about the creation of the video’s using the RSA motion capture process to illustrate the stories behind the narrative.

We started by outlining a white paper– based on the thought leadership — from both myself and Kathy Herrmann on the ROI of social media.  And then broke the topic into 3 video scripts:
1. How to Get Your CEO to Say “Yes” To Social Media
2. How To Calculate the ROI of Social Media and
3. How Social Customer Service Benefits the Whole Company.

And I headed to San Francisco to rebelunit.com studio’s to meet up with the Salesforce team: Jennifer Stern, Sarah Suwanjindar, Sylvia Lehnen and the artist:

The RSA Social Media of ROI Team

We worked from storyboards that captured information in pictures:

The Story Boards For the ROI Of Social Media Videos

And we sat down with the artist to begin the process of drawing out the story:

The Artist on the ROI Of Social Media

The artist drew the pictures and the video cameras captured the artist’s drawings. We watched on another screen to see how the video would appear on the final cut:

The Video Screen Used to Watch the Drawing Process

I recorded the narrative and the voice and video were combined! To keep everyone’s energy up… we had yummy food and M&M’s!

Feeding The Troops M&Ms

Here’s a short video on the actual process in action:


Here’s a B.I.G. Thank YOU!!! to the WHOLE TEAM! For the great work!

The Troop That Made The ROI of Social Media Videos Happen!

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Did U See The Videos On the ROI of Social Media?

I’ve been asked… a number of times, where can we see these videos that Kathy Herrmann and I wrote? We created them based on our thought leadership with the help and support of Salesforce.com and www.rebelunit.com (RSA) on the ROI of social media… so I thought I would post them here… so that you have access to them at any time!

Video 1: How Social Media Benefits the Whole Company

 
Video 2: How to Calculate The ROI of Social Media

Video 3: How To Build a Business Case For Social Customer

@drnatalie Learn. Share. Grow.

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The Bottomline on The ROI of Social Media

One of my favorite topics is talking about how social media is really changing business. Having looked at this topic for a number of years now I still surprised that more people aren’t familiar with building the business case for social media. Regardless of what role I have had, I continue to see the same patterns. Customers not happy with a company’s products and/or services are using social channels to broadcast their frustration, and often disdain, to millions. And there are still some companies that are unsure whether social media is really here to stay and even hesitating to really dig in deep to social media. That really blows my mind!

Many companies have done the basics… get a Twitter handle and tweet or have a Facebook page… But what really sets a company apart is the understanding that just doing the basics in social media is only the tip of the iceberg. Many of you who have seen me speak on this topic know my point of view on social media. It’s not just a channel or a technology. It’s probably one of the most important contributions to business since the assembly line.

The reason? It is literally transforming business. That may sound a bit dramatic, but my point of view on this comes from my days of listening to my dad speak about working in the auto industry. He would tell me stories about a man named Edward Deming. Deming’s moto was essentially to listen to your customers and your employees. Take that feedback and integrate it back into your company. If you were successful in doing that and really making the changes that needed to be made on an ongoing basis, you’d have a very successful company.

What I’ve found most striking about social media is that — if used as an enterprise feedback tool — it is the best source of data… from both customer’s and employee’s that a company could ever dream of obtaining. And what we are seeing is that companies that realize how to use social media – across all departments — PR, Marketing, Customer Service, Product Development, Sales, Manufacturing, etc… are the ones that are truly getting huge return’s on their investment.

I’ll be doing a series of posts on this topic and go into more detail on some of my philosophies on social media and how its transforming business. But for now, I’ll share with you some links to some of the content we’ve recently created. You may have seen Kathy Herrmann and I speak on the topic of social media ROI. To help people get a better handle on this topic, we put our thought leadership together, along with Salesforce.com to produce a white paper and several videos.

Below are the links to the materials we’ve created. We hope that these help people:

  • Believe that the ROI of social media can be calculated
  • Gain a better understanding of how ROI can be calculated
  • Use this information to start to create their own business cases and
  • Stimulate a lot of discussion on the topic.

We believe that in the course of dialogue on topics like this, some of the myths will be shattered, people will begin to help each other to get a clearer understanding of the impact social media can have on their business and together we can transform not only business, but education, government and many many other things that are very important to us all! And this is ONLY the beginning!!!

I hope that these materials help you and look forward to talking with you more. We’ll be hosting several Twitter Chats on the topics in the next few weeks, so be on the look out for when and what time!

Cheers and many, many, many happy returns!

@drnatalie  Learn. Share. Grow!

Videos:
Snackable Insights Into ROI of Social Media
Episode 1: How to Build a Business Case for Social Customer Service
Episode 2: Calculating ROI for Social Customer Service
Episode 3: How Social Customer Service Benefits the Entire Company
White Paper: ROI Guide

Info on: Social Customer Service

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Part 1: How the Famous Sunset Strip Night Club, The Roxy, Used Social Media To Transform Not Only Their Business, But Their Competitors!

I’ve written a lot about how corporate America uses social media for improving the bottom-line and transforming their business. This post is about how Hollywood and famous night clubs use social media. I got to meet Nic Adler who manages The Roxy at @BeverlyMacy’s GravitySummit.com Conference. It was a sold out room, just waiting for each and every speaker to share their stories. So here’s a true Hollywood story!

The Roxy is a night club on the Sunset Strip where the best bands in the world perform. Their brand is legendary with the likes of the Doors, Red Hot Chili Peppers, Genesis, Peter Gabriel, John Lennon, Harry Nilsson, Alice Cooper, Keith Moon, Frank Zappa & The Mothers of Invention and Van Morrison have graced their stages. That’s been the good part.

The bad part is that with all the rubbing of the elbows of the “rich and famous” The Roxy, by Nic’s own admission became complacent. It would have ever occurred to them to collaborate with other clubs on the Sunset Strip. I mean come on, collaborate with the competition??? Who would do that? They didn’t see the need to cater to the bands that came to play there and didn’t reach out or interact with their fans as part of how they conducted business. The Roxy had a “velvet rope” mentally of, “You need us, we don’t need you.”

As Nic was talking at GravitySummit.com it reminded me so much of a lot of companies I’ve work with over the years. Some of which didn’t listen and went out of business…and were never heard from again… and others, like Harley Davidson… that did finally listen… did transform themselves… but at a great cost…

So back to The Roxy….When the recession hit… that’s when Nic got the reality check. That’s when he stopped doing what I call “the ostrich,” i.e., it’s when a business has a “get your head out of the sand” moment. In that moment of despair, Nic looked around the Sunset Strip to see who could help them. They realized they didn’t even know their own neighbors. It had been a time where the night clubs had competed with each other to get the best bands, out bidding one another, and not caring about the community as a whole.

And then Nic had another defining moment. That moment was when the staple business, Tower Records, went out of business. He thought, if it could happen to Tower, it could happen to me. Nic was in search of something that could save his business. At the time he didn’t think it would be social media. And Nic is no exception, as most executives don’t think of social media as a way to reduce costs and increase revenue…

Listen to how Nic Adler and Kyra Reed transformed the fate of The Roxy with social media:

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Steve Broback on Twitter, Analytics and Measuring What Matters to Business

Steve Broback shares his thoughts on unstructured and structured data in the cloud and turning chaos into order. I got the opportunity to interview him at the end of the 140tc conference.  Steve spoke to me about the need to analyze social data and understand how to react to it. In doing so, his company is helping companies bring stability and calmness around what’s being said about them in the cloud.

Steve talked about the launch of the Star Trek movie and the morning after there were over 10,000 tweets. They ran the tweets through their process and got very accurate data on positive, neutral and negative sentiment on the movie. The first structural element they used was determining whether the person had seen the movie. That isolated the comments from 10,000 to 6.000 who had seen it.

Steve Broback, Founder of Parnassus Group

Steve Broback, Founder of Parnassus Group

On the 6.000, they ran the sentiment analysis. They do similar analysis with the launch of consumer electronics. Often times with a launch there are a lot of neutrals. But because they were able to measure a large number of positives, they knew right away the movie was a hit. And this was reflected in the stock value the next day.

While some of the content is just your average everyday message about people’s life, because Twitter’s API provides a very robust capability for search, so you can easily garner data on just about any topic… Favorite TV shows, products, stores, airlines, etc… And Steve is no stranger to social media. He wrote the book, Publish and Prosper, Blogging For Business.

Steve Broback's book on Taking Blogging Seriously For Businesses

Steve Broback's book on Taking Blogging Seriously For Businesses

Steve says that while the data is pretty easy to extract, the key is know what to do with the data.

For companies that are concerned about what is being said about them in various social media channels, this is an important video to watch.

You can follow Steve on twitter at www.twitter.com/stevebroback

You can learn more about the 140tc Conference at www.140tc.com

Thanks for tuning in!
Learn. Share. Grow.

Dr. Natalie

www.twitter.com/drnatalie

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Interview with O’Reilly Author, Sean Power, Complete Web Monitoring

Sean Power, Author of  Complete Web Monitoring

Sean Power, Author of Complete Web Monitoring

At web 2.o Sean was kind enough to spend a few minutes with me on the necessity of measuring your social media initiatives.

Click here to learn more about metrics and measurement by Sean: Sean Power on Measuring Web 2.0 and Social Media

You can learn much more in his book, Complete Web Monitoring, written by co-author Allister Croll. http://oreilly.com/catalog/9780596155148/

Complete Web Monitoring By Sean Power and Allister Croll

Complete Web Monitoring By Sean Power and Allister Croll

Follow Sean on twitter: www.twitter.com/seanpower

Follow Alistar on twitter: www. twitter.com/Acroll

Learn. Grow. Share.

You can find me on twitter at www.twitter.com/drnatalie

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Exclusive Interview With Brent Leary on Social CRM and the Influence of Smart Phones

Brent Leary CRM and Social CRM Expert

Brent Leary CRM and Social CRM Expert

While I as attending Oracle OpenWorld, I had a chance to talk with Brent Leary.

In this interview, Brent shares his thoughts on social CRM, where companies are and where they need to go:

  • How social CRM is lending itself to  mobile devices
  • How smart phones have transformed into a business phones/ nearly mini computers
  • How the rise of smart phones is forwarding social CRM
  • The devices he uses, including a Flip Video camera, iPhone, Blackberry, Olympus OS10, a netbook…
  • The hashtag communities on twitter and how they forward in-person meetings: establishing and connecting with people you might never have gotten to know…

Click below to listen to Brent’s insights: (the video is 6 minutes long, so it may take a minute to load):

How Smart Phones Are Driving Social Media Adoption

You can follow Brent on twitter- he is at: www.twitter.com/brentleary

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To participate in more conversations on Social CRM, follow me on twitter: drnatalie and use the Twitter hash tags: #SCRM #CustomerService #VSCRM #SocialMedia

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Exclusive Interview with Esteban Kolsky on Social CRM Analytics

In this interview with Esteban, we look the necessity of analytics on social CRM. Pretty much you get what you measure.

Esteban Kolsky, Social CRM Expert

Esteban Kolsky, Social CRM Expert

Esteban told me that his opinion on whether companies will truly become “social” depends upon their ability to collect, analyze and implement social feedback- from both employees and customers.

Most of the feedback in the social cloud is unstructured. So then the question becomes how does a company make sense of this unstructured data cloud?

Esteban gives his thoughts on:

  • Enterprise feedback management – the old way and the new way- via social CRM
  • The need for real-time responses to customer social interactions
  • The differences between monitoring customer feedback interactions and creating actionable insight: sentiment, cost, the affect and the next steps of the company based based on the feedback and comments in the cloud
  • The voice of the customer, customer experience and executive oversight of integrating these into business
  • The business value of adding social customer interaction feedback to your company.

Click to hear Esteban’s thoughts on measuring the value of Social CRM: (the video is ~6 minutes long- so it takes a minute to load… but be patient… its worth the wait…)


Esteban Kolsky on Measuring the Value of Social CRM

You can follow Esteban on twitter: he is at http://www.twitter.com/ekolsky

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To participate in more conversations on Social CRM, follow me on twitter: drnatalie and use the Twitter hash tags: #SCRM #CustomerService #VSCRM #SocialMedia

Learn. Grow. Share.

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