One of the most popular questions we hear from members is: “What are my peers asking you about social media?”
After spending last week speaking with members at MLC’s executive breakfast meetings, I got an earful of what’s keeping marketers up at night when it comes to social media.
The key theme: There’s no longer any debate on if we should engage with our target audiences via social media. The only question left is “how?”
Your peers are running up against three key challenges when it comes to answering that “how” question. Here’s how we’re advising them on each:
1. How do I make the case to invest given it’s so difficult to measure ROI?
Our Advice: Take the 70*20*10 approach to avoid the ROI catch-22. Here’s how it works: In any fiscal year, marketing communications spend should be reviewed at a portfolio level to avoid being the metaphorical “frog in boiling water.” Roughly 70% of spend ought to go toward “tried and true” touchpoints. On the other end, 10% of spend should go to experimental efforts for which there is no in-year expectation of ROI. Finally, the middle 20% is spent on “emerging” touchpoints – the most successful tactics of the 10% experimental bucket from prior years.
MLC members can access a ready-made Business Case Template to put 70*20*10 to work for you.
2. How do I find the time for social media given limited headcount and competing priorities?
Our Advice: “Beg, borrow, and steal time” is conventional wisdom. Here are two ways you can do just that:
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Tap Your Passionates – Conduct an internal audit to ID employees in the organization who are already fluent in social media basics and would appreciate an opportunity to bring your organization into the social media world. Or follow UPS’s lead and enlist the help of your administrative staff to get handle on things.
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Borrow Best Practice (Don’t Reinvent the Wheel!) – Whether you’re looking to launch a Blog or update your Facebook fan page, our Social Media Showcase houses tools & templates that will help you more efficiently manage your social media activities.
3. How do I coordinate our social media activities across the enterprise given that there are so many different stakeholders with a vested interest?
Our Advice: Use a simple, “Plan on a Page” framework to align internal stakeholders around a common way of thinking about social media. Whether you’re battling with Legal or trying to get different regions all on board, our Social Media Strategy Builder gives you the tools, templates, and team exercises you need to craft a principled social media management approach and rally the consensus you need to execute your strategy efficiently.
