Tuesday, August 18, 2009

Social media strategy on a small marketing budget

I have been experimenting with social media in my own business, in earnest, for a couple of years. I started with Linkedin for networking and frequently use the question-and-answer tool. One year ago I added Facebook, and six months ago, I started this blog and my Twitter account. I've quickly learned that all of these tools can be painfully time-consuming— particularly the last two. On the other hand, I do believe that at some point, they'll pay off for my business in ways I can’t predict now.

In the meantime, this experiment shows prospects and colleagues that I am investing in new media, which is fast becoming a critical source of information and knowledge-sharing for people in the business world. Since I am in the information business, I've got to use these tools or else, fall behind the times. Increasingly, clients are asking me to advise them on social media practices for promoting their message and building their business.

A small high-tech client I'm working with wants to dip its toes deeper into social media. The marketing chief has set up a Twitter account, which he has been posting news and observations to infrequently, and the company is about to launch a new Web site. Here's the challenge: we have an already constrained budget for PR activities, which means I will only have a few extra hours at most to spend on social media per week.

Yes, the tools are free, but time is not: whoever told you that social media is a cheap and easy way to promote your business is lying through their teeth.

From my own personal experience and the anecdotes of others, it can take 1-2 hours per day to achieve any significant marketing goals with these tools. My client doesn't have the budget to pay me those extra hours on top of all the other programs we have running.

Despite that barrier, I'm eager to get started but I'm also worried: How can we be efficient with the few hours that we have to spend? Automated tools for managing social media are now plentiful— so I know that incorporating these tools will be part of our strategy.

Here's my bare-bones social media plan for the client:

Purpose:

--To position [COMPANY] as an influencer and thought leader in prominent online media communities.
--To buttress and support PR and marketing efforts.
--To generate new marketing and sales prospects, potential partners, and community supporters aka viral friends.
--To gain useful insight into social media conversations around [XYZ] technology, to fuel media relations strategies, contacts and opportunities.

I. Twitter: Guidelines and Tools

There's no “right way” to use Twitter but increasingly, standards are arising about how corporations are using Twitter and some best practices are emerging. As a marketing and public relations tool, corporate Twitter accounts are focusing on striking a balance between self-promotional posts and educational/non-promotional conversations, and re-tweeting of others’ posts which relate to industry trends. Some guidelines that I have read suggest a 60% to 40% ratio of non-promotional to promotional tweets.


Useful links and tools for getting started:

Twitter Bible

Resource Super List

Twellow is a directory of public Twitter accounts, with hundreds of categories and search features to help you find people who matter to you.

Twitter Tips: How to Find Experts in Your Industry

Tweetscan. A great search engine for twitter to see what people are twitting about you, your blog, brand, company, product etc.

TweetMarks. This will help your bookmark your twits, keeping all of the links you share organized.

TweetDeck tips (TweetDeck is an excellent dashboard/browser for twitter that I use as my primary interface into Twitter. I love it.)

Twollo to automatically follow the people who are discussing the things I am interested in.

Twaitter allows you to schedule your tweets at specific times.

CoTweet enables multiple people to update just one Twitter account. A permissions console allows you to set up accounts for the team members you want updating the Twitter feed.

Twitter measurement

This is no hard science yet but some of the metrics include: number of followers, number of mentions or retweets, individual tweet performance, clicks per day, and clicks by geographic location. Fortunately, there are many free or low-cost automated tools that collect data for you and graph it. Recommendations for an initial metrics program:

--Number of followers and percentage of increase month to month.
--Number of mentions, replies, and retweets per month.
--Individual tweet performance: graphing how particular posts perform in terms of responses and mentions. This will be, ideally, an invaluable tool for PR/marketing efforts.
--Responses from media, customers, or other key constituents on Twitter to press releases and other news. We will track any contacts that come to us from Twitter.


Resources for analytics:

Eight excellent tools to extract insights from Twitter streams
http://www.socialmediatoday.com/SMC/80437


1. Hootsuite— This is another twitter client which also includes statistics tools.
2. Twitalyzer provides activities analysis of any Twitter user, based on social media success yardsticks. Its metrics include (a) Influence score, which is basically your popularity score on Twitter (b) signal-to-noise ratio (c) one’s propensity to ‘retweet’ or pass along others’ tweets (d) velocity - the rate one’s updates on Twitter and (e) clout - based on how many times one is cited in tweets.
3. Twist offers trends of keywords or product name, based on what Twitter users are tweeting about. You can see frequency of a keyword or product name being mentioned over a period of a week or a month and display them on a graph.
4. Tweetstats is useful to reveal tweeting behavior of any Twitter users. It consolidates and collates Twitter activity data and presents them in colorful graphs. Its Tweet Timeline is probably the most interesting, as it shows month-by-month total tweets since your joined Twitter.
5. Twitterfriends focuses on conversation and information aspects of Twitter users’ behaviors. Two key metrics are Conversational Quotient (CQ) and Links Quotient (LQ). CQ measures how many tweets were replied whereas LQ measures how many tweets contained links.
6. Thummit Quickrate This web application identifies latest buzzwords, actors, movies, brands, products, etc. (called ‘topics’) and combines them with conversations from Twitter. It does sentiment analysis to determine whether each Twitter update is Thumms up (positive), neutral or Thumms down (negative).


II. Twitter: Schedule and Content plan

1. Budget/Time: Minimum 1 hour per week (ideally, 2 hours) to maintain Twitter account. Below is what I believe to be a useful breakdown of time spent for .5 hour on social media, which I found from another marketer:

1. Sign up for an account at TweetLater (or another tweet scheduling tool).
2. Spend 10-15 minutes every day finding industry articles, news you find interesting, and thought leadership pieces that have nothing to do with you or your business and set those up to be distributed throughout the day. A good rule of thumb is that 60 percent of your tweets should not be self-serving. I set up my tweets 30 minutes apart.
3. Spend 10 minutes every day setting up your “self-serving” tweets - these are links to your blog, white papers the company has written, any articles written about you or that quote you, Webinars or podcasts you’re hosting, etc. A good rule of thumb is these should be only 40 percent of your tweets and you should space them out so they don’t come out all at once.
4. Spend 10 minutes going through your groups on TweetDeck and find things to RT (retweet) for your followers. This expands your follower base, shows that you listen, and provides great influence.


2. Content plan:

Post a minimum of 10 tweets per week consisting of:

--Tweets and retweets of related tech and industry news
--Company press releases (retweet 2-3 x over two weeks)
--Case studies and company media coverage (retweet 2-3 x over two weeks)
--General observations on company happenings or industry events
--Conference/event news
--Blog/site articles

The automated tweet scheduling tools allow you to develop an editorial calendar of tweets so that you can plan ahead and schedule when tweets post and how often. One rule of thumb that I have uncovered is to schedule your posts at intervals throughout the day, instead of all at once.


III. Blog

Ideally, we would launch a blog at the same time as our Twitter strategy. Given resources, this may not be possible, but a best practice is to not begin a blogging program until we are able and ready to commit to weekly posting. (Increasingly, there are services which automatically update Twitter with blog postings.)

Purpose:

--To position [Company] as an influencer and thought leader in prominent online media communities and with fellow bloggers.
--To buttress and support PR and marketing efforts, and as an educational vehicle for customers and prospects.
--To showcase speeches and thought leadership from company execs, and guest bloggers from the [industry] community.
--To engage in conversations with and generate feedback from customers, prospects, partners, and supporters.

Schedule: 1 posting/week. (300- 500 words)
Time commitment: 2-3 hours per week.


Challenges: Budget and resources for producing regular content. One strategy to counteract: cultivate relationships with guest bloggers to help mitigate the time spent creating original content. Strategy two: Re-post blogs on foundational topics.

Is it possible to gain value from social media by spending only a couple of hours per week? I'm not sure, but I'm determined to find out. I would love to find out how others who work for themselves or small companies are handling the time-sink issue. I have to keep reminding myself: social media is just another suite of tools to build a brand and engage customers and the broader community. It's not magic. At the end of the day, the message has to be crystal clear and targeted— no matter the tools that we use.

Ultimately, marketers and communicators need to figure out how to integrate these tools into our regular marketing and sales and customer service activities, without taking valuable time away from the physical time a.k.a. "personal touch" and attention we still need to offer customers and partners. I fear that were all getting too digital and are forgetting how to communicate in person and over the phone. What's the right balance?

Until next time, I'll be here, frazzled as always and trying to figure this all out.



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