7 Rules for a Smart Social Strategy

Here are several excerpts from an article by Lauren McKay, Editorial Assistant with CRM Magazine, 7 Rules for a Smart Social Strategy.  Check out the complete source article for examples of each of the 7 key principles:

Now more than ever, social media is having an effect on buying decisions. The creative social elements, such as viral videos, are rarely credited for sales; their impact, however, is significant — and growing. But how should businesses use social media not merely to generate consumer interest, but provoke consumer purchases?

Riley led her presentation with a reminder of the POST methodology, popularized by Forrester analyst Josh Bernoff and former Forrester analyst and current Altimeter Group Partner Charlene Li in their book Groundswell.

The POST framework includes four key tenets for social media participation…

• People: The people component means going beyond where your audience is — you have to think about how your audience interacts with social media and how they would interact with your brand given the opportunity. ”Half of consumers will interact with their favorite brands using social media,” Riley said, “But favorite brands is the key point. That probably doesn’t mean Crest Whitestrips or Goodyear Tigers. Apple? Yeah. Sony? Yeah.” In other words, how sexy is your brand? Realize that audiences might not want to interact online with an insurance company the same way they would with a record label.
• Objectives: The head of your company might have shouted, “We need to be on Twitter,” after seeing a wave of competitors entering the space. Before you sign up for a new service or take on a new tool, however, you need to think about what you’ll do when you get there.
• Strategy: “You have to plan for how relationships with customers will change,” Riley said.
• Technology: Once you’ve got the first three down, it’s time to figure out what social technologies to use.

To help businesses handle the myriad considerations required by participation in social media, Riley shared with the audience seven key principles to abide by. Although emphasizing that the seven recommendations fall short of what might be considered best practices, Riley also provided examples for each of companies that have made splashes in the social space:

1. Try something new.
2. Create a single point of passion, otherwise known as the “marketer’s sweet spot.”
3. Tap into the unique benefits of your chosen tactic.
4. Make yourself indispensable.
5. Create better channels for sharing information.
6. Extend accessibility beyond the Web.
7. Use personal engagement to sell.

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Tagged as: CRM Best Practices, Social CRM, Social Networking, Social Strategy