Workshop 1 on our ‘Mastering Social Media for Sustained Business Growth Programme’ focuses on ‘Getting the Foundations Right’.
Key issues covered include:
- Overview of social media – what is it?
- How important has it become? – social media size and growth
- Features and characteristics – the key things to remember about social media
- The new ‘mindset’ and performance measures required
- Potential business benefits of social media
- Social media in action – case examples
- ‘Social media planning pays’ – an overview of the key steps involved in social media strategy development, implementation and performance management using a Balanced Scorecard approach
Using the ‘Social Media Toolkit’, participating companies will complete three foundation exercises:
Undertake a detailed external analysis of the social media landscape for your company, identifying where the major opportunities/threats exist.
The starting point in developing a social media engagement strategy is to monitor and evaluate the social media landscape for your business. Social media landscaping will help you decide the best generic strategy to follow and should be undertaken at five main levels:
- Applications – what social media applications are the most relevant to your business?
- Impact – what impact is social media having on your industry, how important has it become?
- Customers – how are your customers using social media? What impact is it having on customer behaviour?
- Conversations – what online conversations are taking place relevant to your business; who is saying what about your brand where on the Internet and how should you respond?
- Features and characteristics – what are the key features and characteristics of social media that you need to understand to be successful i.e. social media culture?
A previous post covers some of these issues in more detail – Social Media Strategy Development: Step 1 – Evaluate Your Social Media Landscape
Undertake an Internal Social Media Audit evaluating progress made benchmarked against agreed criteria. Key questions to address include:
- What progress have we made?
- What social media channels do we already use?
- What is the level of engagement with each channel?
- What positive business benefits have we derived from our social media activities?
- Where are the main areas for future improvement?
Benchmarking is a key element of the Internal Audit and should be undertaken at five main levels:
- Social Media Landscape – what progress has been made benchmarked against the opportunities presented by your social media landscape?
- Generic Strategy – the level of progress made benchmarked against your generic social media strategy
- Industry ‘Best Practice’ – the level of progress made benchmarked against industry ‘best practice’. How does your current level of SM engagement compare with the industry average? What lessons can be learned from industry ‘mavens’?
- KPIs – what progress has been made benchmarked against agreed KPIs?
- Strategic Gap Analysis – based on the above, what is the ‘Strategic Gap’ that exists between the ‘current’ and ‘ideal’ scenarios; between where you are and where you should be? The ‘Strategic Gap’ provides a very strong basis for future social media strategy development
See previous blog post on this topic – Internal Social Media Audit
Evaluate your ‘readiness to engage’.
Your Internal Social Media Audit (Exercise 2) should be followed by an evaluation of your organisation’s readiness or preparedness to engage with social media.
Evaluating your Readiness to Engage involves identifying the relevant Strengths, Weaknesses, Opportunities and Threats for your organisation. You should look to answer the following 4 questions:
- How will we leverage our STRENGTHS?
- How will we overcome our WEAKNESSES?
- How will we realise our OPPORTUNITIES?
- How will we alleviate our THREATS?
Working through these exercises will provide you with a very strong foundation for Social Media Strategy Development – covered in Workshop 2 to follow.
Slides for Session 1 will be available (to Programme participants only) in the password protected ‘Mastering SM‘ section of this site.
Jim, Alan, Vincent