The Strategy of New/Social Media for Business … …and the FUTURE All Rights Reserved – Property of WOM10 - use by permission only

Blaine Millet MBA, Finance & Marketing

…and “CULTURE SHIFT”

5 CRITICAL Factors

No. 1 Critical Factor

It’s NOT about the TOOLS It’s ALL about the STRATEGY

 WHY you are doing it  WHO is your audience  WHAT you are going to do  HOW you are going to execute

New/Social Media Strategy… Website Blog

vcfo Social Media Strategy…

Customer Service & Support MarketingandCommunications Sales/BusinessDevelopment SocialMedia EXPERIENCE TRUSTEDRELATIONSHIPS ENGAGEMENT All Rights Reserved – Printed or shared by permission only

No. 2 Critical Factor

The past 150 years – “PUSH” Media  Direct Mail  TV  Newspaper  Radio  Newsletters  Yellow Pages  PR Firms  Ad Agencies  Billboards  Banner ads, etc. P.S. – Your Website is also “non-engaging”

Every 48 hours…

The NEW World “PULL” Communication

“PULL Communication” “PULL Communication”

A B C Traditional Media Customer Advocates Social Media YOU “helping” “sharing” “selling”

“PUSH” Communication Self-serving Communications Traditional Messaging “PULL” Communication Word-of-Mouth Marketing Building Advocacy

No. 3 Critical Factor

The CONVERSATION is happening …with our without you

“Old” Brand How BIG is your Budget?

“NEW” Brand The CONVERSATION

No. 4 Critical Factor

Only 14% of people “trust” advertisements 78% of people “trust” other’s recommendations about products and services

…is all about  Relationships  Trust  Loyalty  Advocacy …Word-of-Mouth

WOM is the Pinnacle for New Media Promises MADE Relationships ADVOCACYADVOCACY Trust Promises KEPT WOM

Word-of-Mouth …on STEROIDS!!

No. 5 Critical Factor

In order to get Need to get

1. BLOGS  Conversations between people  “Internally” and “Externally”  Upper management talks to employees  Education  Updates by Groups/Divisions  More effective than  Allows for open feedback and discussion  Knowledge based  Experience based

2. Wiki’s  Current Version of “intranet”  Collaborative  Share between groups or company-wide  Keeps information inside 3. Social Network  “Internal” or “External”  Great way for people to “connect”  Foster broader interaction  Personalize the business

4. Microblogging (think twitter)  Sharing information quickly  Immediate updates  Yammer and other tools  One-to-many as well as one-to-one  Collaborative 5. File Sharing  “Internal” or “External”  Base level  Variety of system choices – Googledocs, Sharepoint, etc.

 Social Media Stats:  No IBM corporate blog or Twitter account  17,000 internal blogs  100,000 employees using internal blogs  53,000 members on SocialBlue (like Facebook for employees)  A few thousand “IBMers” on Twitter  Thousands of external bloggers,  Almost 200,000 on LinkedIn  As many as 500,000 participants in company crowd-sourcing “jams”  50,000 in alum networks on Facebook and LinkedIn  Results:  Crowd-sourcing identified 10 best incubator businesses, which IBM funded with $100 million  $100 billion in total revenue with a 44.1% gross profit margin in 2008

 138 year old company  “Going Social” is part of culture  CEO led by example – started a blog  “MySite” – shares credentials and info  Experts identified with “hashtags”  Executive team shares freely Knowing what to share and how to share will be critical in 2020 – start now to build the culture

Final Thoughts

Employees today value access to more Social Media at work more than Salary… vs.

ROI

 Help organizations Listen  Education and Training  Create a “Business Strategy”  New/Social Media  Word-of-Mouth/Advocacy  Internal Communication/Collaboration  Execute the Strategy  Strategy, Tools, and building Word-of-Mouth  ROI –  Achieving a return

Thank You…