How Effective Is Your Corporate Social Media Strategy?

29 10 2013

Where do you fit on the social media continuum?  Many folks have some friends on Facebook (1.1 billion users), an incomplete profile on LinkedIn (240 million users), a bunch of views on Youtube (1 billion unique users/month) and that is about it.  While many folks don’t tweet (555 million users) regularly, ALL of us have purchased a ton of things online.  Fewer of us write checks than ever before and many use our “phone” to transact financial business and get answers to a myriad of questions.  Regardless of where you are personally on social media and how you measure your activity today compared to five years ago, your findings will be not be shocking.  We have all made individual moves forward.  So what about your corporate plan?  What moves has your Eye Cubed organization made or is preparing to make?

social-media-seo-logos

My company, PFP, started our LinkedIn Group “Where Your Credit Union Goes To Grow” in March, 2013 and the group consistently grows each month.  When you search Groups in LinkedIn under “Credit Union”, we are currently ranked #28!  That is a good start to a very robust plan.   Our purpose is to become national thought leaders and value generators for the credit union industry.  We are definitely on the best platform.  Nothing compares to LinkedIn to achieve the goal of B to B networking.

You cannot prove you can swim when you only have your foot in the water!

We have only just begun.  It is fair to say that our initial foray into social media has merely taken us out of the gate and represents a small fraction of our overall strategy.  When you combine our B to B and B to C strategies, we will be managing ten social media pages via five platforms in 2014.  We have a ton of work to do to build our community and provide meaningful value.

This aint no “Field Of Dreams”…. For everyone to come, we have to do more than just “Build it”!

There are three core competencies needed to have a successful social media game plan:

  • Content Acquisition
  • Marketing/ Dissemination
  • Community Acquisition

Most organizations are unwilling to excel at all three consistently over a long period of time.  If one of the above is ignored, the overall initiative will be off balance and will miss the mark.

  • It takes time to provide meaningful content.
  • It requires work to develop original thought.
  • It takes diligence to demonstrate effective distribution.
  • It takes effort to build a growing network.

You need “numbers” to play the numbers game!        

We need to get comfortable with the fact that “small” percentages of our network will see our efforts and a “smaller” percentage will act on it.  The good news is that those numbers are relative and become “big” when our social media community is “big”.  Like any marketing and sales strategy, metrics drive our activity.  As we develop a track record of actions and measurable results, we will improve the top line and bottom line by focusing on the activities that drive our metrics beyond our targets.

We are building an asset, not buying a lottery ticket.  Eye Cubed companies invest the time necessary to build by executing a sound strategy.  While social media is not a new concept to anyone, for most companies, infusing an effective plan into the culture is pure innovation and fits neatly into the Eye Cubed philosophies presented in the prior posts.

Eye-Cubed leaders need:

  • Vision to feel the Inspiration
  • Vision to see the Innovation
  • Vision to execute the Implementation
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2 responses

29 10 2013
Sean McGinley

I like the analogies/cliches that drive your point home. The vision is clear and I have all the confidence we will get there.

Sean

6 11 2013
Harold Holmes

There is no doubt we will get there in time. This is truly only the beginning and the best part is “The best is surely yet to come”.

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