Mediaboss Marketing

This post was co-authored with Becky Ross and Shannon Gorman, both MBA students at the Fuqua School of Business, Duke University.

Social media is an increasingly important tactic in companies marketing strategy and yet results from The CMO Survey continue to indicate that many companies manage social media as a separate activity. Asked how effectively social media is linked to their companys marketing strategy on a 1-7 scale where 1 is not integrated and 7 is very integrated, the average level of integration was only 3.9. Although we see companies planning to increase social media spending as a percent of marketing budget from 9.4% to 13.2% over the next year and 21.4% over the next five years, the level of integration has not changed in the past four years.

How effectively is social media linked to your firms marketing strategy? (1=Not integrated, 7=Very integrated)

We interviewed marketers across industry sectors for insight into what actions they are taking to improve social media integration. Here is what we learned.

When social media is integrated with the companys marketing strategy, the companys management of its customer and brand assets is seamless. Strategic elements such as segmentation, targeting, positioning, and all go-to-market activities reflect a clear and consistent understanding of the value the company offers to its customers and how the company seeks to capture value from attracting and retaining these customers over time. The result of social media integrated into marketing strategy is improved efficiency and effectiveness in all aspects of the marketing plan.

Sponsored by the American Marketing Association, Duke Universitys Fuqua School of Business, and McKinsey, Inc., The CMO Survey collects and disseminates the opinions of top marketers in order to predict the futureof markets, track marketing excellence, and improve the value of marketing in firms and in society. To participate or for report downloads, visit cmosurvey.org.

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Christine Moorman, Becky Ross and Shannon Gorman: 12 tips for integrating social media into your marketing strategy

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This post was co-authored with Becky Ross and Shannon Gorman, both MBA students at the Fuqua School of Business, Duke University.

Social media is an increasingly important tactic in companies marketing strategy and yet results from The CMO Survey continue to indicate that many companies manage social media as a separate activity. Asked how effectively social media is linked to their companys marketing strategy on a 1-7 scale where 1 is not integrated and 7 is very integrated, the average level of integration was only 3.9. Although we see companies planning to increase social media spending as a percent of marketing budget from 9.4% to 13.2% over the next year and 21.4% over the next five years, the level of integration has not changed in the past four years.

How effectively is social media linked to your firms marketing strategy? (1=Not integrated, 7=Very integrated)

We interviewed marketers across industry sectors for insight into what actions they are taking to improve social media integration. Here is what we learned.

When social media is integrated with the companys marketing strategy, the companys management of its customer and brand assets is seamless. Strategic elements such as segmentation, targeting, positioning, and all go-to-market activities reflect a clear and consistent understanding of the value the company offers to its customers and how the company seeks to capture value from attracting and retaining these customers over time. The result of social media integrated into marketing strategy is improved efficiency and effectiveness in all aspects of the marketing plan.

Sponsored by the American Marketing Association, Duke Universitys Fuqua School of Business, and McKinsey, Inc., The CMO Survey collects and disseminates the opinions of top marketers in order to predict the futureof markets, track marketing excellence, and improve the value of marketing in firms and in society. To participate or for report downloads, visit cmosurvey.org.

See the rest here:
12 Tips For Integrating Social Media Into Your Marketing Strategy

Most companies have embraced social media as part of their marketing mix, but they dont always understand what makes it successful. That means their efforts are often through trial and error.

Meanwhile, theres rising pressure on marketing budgets even as organizations look for ways to identify, measure and optimize key performance drivers of social media activities.

We recently studied corporate blogs from Fortune 500 companies to examine effective communication traits and provide recommendations for managing corporate social media. Of the companies that were either running or planning to run social media initiatives, only 12% thought they were doing it effectively.

So how can organizations make sure their social campaigns are effective? Below, we share three techniques for organizations that are looking to engage with their customers.

1) Be relevant Social media users are looking for expertise, competency and insights that arent available in traditional media settings. Corporate social media is only successful if the right spokesperson is chosen.

2) Tell a story In the social media space, where everything is about connecting with peers, narratives represent the most common way of addressing an audience. Our results show that storytelling heavily influences traffic numbers.

3) Be conversational When activity on a corporate social media presence is conversational in nature, it draws more visitors. People participate in online conversations because they value interpersonal connections.

It is also important to remember that social media success should be measured not only by the number of comments, but also by the number of conversations present. Because visitors average time on a page is usually short, consider technical features that group related comments and increase the visibility of corporate participation, such as highlighting answers from the company. Want to learn more? Watch our webcast replay Social media: own your own brand or others will from the EY Strategic Growth Forum.

Tell me: When was the last time your organization really connected with customers on social media?

source: iStock

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EYVoice: 3 Ways To Engage Customers Through Social Media