Annual Planning Process: Best-in-class approaches to effectively planning your digital and social marketing budgets
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The document discusses best practices for annual planning processes (AOP) and integrating digital and social media marketing. It recommends developing an AOP that includes specific goals, key projects, budgets, and timelines for digital and social media initiatives. Measurement of initiatives should align with marketing funnels. Trends to consider include real-time marketing to capitalize on unexpected events, amplifying brand events, evolving community management roles, and driving advocacy through super fans and exclusive communities.
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Annual Planning Process: Best-in-class approaches to effectively planning your digital and social marketing budgets
- 1. The Annual Planning Process Best-in-class approaches to effectively planning your digital and social marketing budgets
- 2. The AOP Planning Process • What is AOP? • The Growth of Digital and Social Media in Marketing Today • How Do I Fit Digital & Social Into My Marketing Plans? • Measurement & ROI • Three Key Trends To Consider 2
- 4. What Is AOP? Annual operating planning, or AOP, refers to the budget the company establishes for each fiscal year Developing an annual operating plan enables the business to manage income and expenses against established expectations. While unexpected events occur, having an AOP provides the business with a adjustable roadmap for a fiscal year. September to November is crucial AOP planning time. 4
- 5. How does this tie into the annual planning process for marketing teams? •The AOP is your opportunity to request expected marketing budget & costs for the year ahead. •Annual marketing budget needs – for example for new product launches, annual tradeshow presence or other key campaigns – should all be including as part of the AOP to ensure adequate funding. •Integrating digital and social media asks as part of a more detailed program will ensure an effective program and adequate budget asks a the AOP stage. 5
- 6. Why Are Digital and Social Media Important?
- 7. Why Are Social And Digital Media Important? 1. The way we obtain information has changed 2. Search is now key in our online discovery process 3. Social networks are our connection point 4. Mobile and mobility are more important than ever before 7
- 8. Social And Digital Media Drive Business Value • Demonstrating openness and responsiveness • Delivering more relevant content • Driving third-party advocacy • Activating loyalists • Improving marketing effectiveness • Getting customers to buy more • Shorting time to market • Reducing cost in development • Testing ideas earlier • Enabling employees to advocate • Training the workforce • Improving employee performance 8
- 9. The Average Spend On Social Media Is Currently Around 10% Of Marketing Budgets Average spend on social media for companies up to $1 billion in revenue is at $500,000 * Or 7.4% of overall marketing budgets Source: http://www.slideshare.net/fullscreen/Altimeter/the-evolution-of-social-business-six-stages-of-social-media-transformation/5 Source: CMO Survey 2012 9
- 10. A Number That Will Continue To Increase In The Next 5 Years SOURCE: CMO Survey (Feb 2013): http://www.marketingcharts.com/wp/direct/cmos-bullishabout-social-media-spending-27300/ 10
- 11. How Do I Fit Social & Digital Media Into My Marketing Plans?
- 12. Ask The Big Questions Define Listen Know What is the business challenge we must solve? What are people saying and doing in social media related to my business? How is my brand performing in social & digital media now? 1 2 3 Create Drive Learn What could I be doing? How do I drive scale and impact? How will I know if it’s working? 4 5 12
- 13. Use An Integrated Planning Framework To Answer Listen Plan Activate Amplify Manage Engagement Advertising Social & Search Insight Measurement Benchmarks Influencer Management Content Activation Social Experience Content Syndication Community Management Digital Media Relations Performance Measurement Optimization 13
- 14. Lay Out A Strategy What are your specific goals? Strategic Imperatives and Specific Goals How Will We Win? Lay our the goals that came out of your planning framework List out your core areas of focus, coming out of using your integrated planning framework e.g. activate our core customers to share word of mouth and drive new sales Enablers / Capabilities List any capabilities here that will help you achieve your goals (e.g. cross company content management system, social listening tools available) 14
- 15. Create A Project Priority List Overview Fan Base Growth Implement fan and follower campaigns to significantly scale community levels Example Facebook Fan Campaign, Twitter Promoted Account, etc Sample Partners Dates Kickoff Budget Range Priority Level Facebook, Twitter Year round Q1 $350,000 – $500,000 1 Social Offers Quarterly Testing Trial new opportunities with social & digital offer partners to leverage the inherent “referral” factor of social products. Macy’s Facebook offers Living Social Facebook Offers 4 x total Q2 $400,000 2 YouTube Channel Channel revamp to capitalize on opportunity for influencer partnerships How To videos YouTube Year round Q3 $300,000 $1,000,000 3 Work with your partners to detail out specific social and media projects as the next step. This allows estimation of low and high budget ranges which can then be submitted for AOP planning. 15
- 16. Consider Any Additional Staffing Needs 16 Source: Altimeter – March 2013 The-evolution-of-social-business
- 18. Measurement Must Align To The Funnel Awareness Reach Evaluation Engagement Preference Conversion Action Loyalty Aligning measurement with a model everyone understands – the sales funnel – allows reporting on KPIs against Reach, Preference and Action 18
- 19. 3 Trends To Watch When Planning For AOP Now
- 20. The New Real Time Marketing Newsroom
- 21. How did a beer brand gain relevance during the 2013 Oscars and insert themselves into the pop culture conversation?
- 22. 1. Capitalizing On Unexpected Moments 22
- 23. 1. Capitalizing On Unexpected Moments 23
- 24. 2. Events - Tapping Into Cultural Events 24
- 25. 2. Events - Amplifying Brand Events 25
- 26. Four Skills For Successful Real Time Marketing Nimble Speed Real Time Marketing Always-on Listening Reactive Content Marketing Conversation Management 26
- 28. How did BP use its social communities to listen and respond to questions during one of the largest environmental disasters of recent years?
- 29. From Community Manager To Community Director • Communities exercise greater impact on brands’ business bottom lines. • Community management profession is experiencing a 29% year-on-year growth ad the necessary skill set is also evolving. • Today’s community manager needs to be a real business director with the necessary gravitas to get the most out of the community and the brand, to really drive value. • Introducing….the Community Director! 29
- 31. How did Wispa use one of its biggest fans to launch a new product and drive advocacy? 31
- 32. Celebrating the Famebook fan How did Bodyform jump on the tongue in cheek comments of a fan to generate buzz and create a nimble campaign that caught people’s attention?
- 33. VIP Communities To Drive Advocacy FAN GAMING Show Insiders their points, stats & badges to create a fun competitive environment EXCLUSIVE VALUE Provide Insiders with exec access, video, coupon, feedback and other types of content & offers – all exclusive and built for sharing RECOGNITION Insiders can place a badge on their social network profile to show they are part of the invitation-only community FULLY MEASURED Admin/optimization tools allow full content management and analysis of the most effective content and the most effective influencers (around Engagement, Sharing and Purchase/Action) 11 12 33
- 34. Thank You Gemma Craven Gemma Craven Executive Director Social Customer Engagement OgilvyOne Email: Twitter: Linkedin: gemma.craven@ogilvy.com @gemsie linkedin.com/gemsiecraven 34
Editor's Notes
- We take our social connections with us everywhere
- In an AOP plan, an organization evaluates prior data for all aspects of the business, including revenue, production, capacity, expenses and so forth and creates a forecast for the upcoming fiscal year. Setting an AOP requires input from numerous members of an organization, including those with responsibility for sales, marketing, production, compliance and many more.
- When you examine all of the ways we can use social media to drive business, 4 areas emerge: Building brand reputation and value through: Demonstrating openness and responsiveness Delivering more relevant content Driving third-party advocacy Creating customer value by: Activating loyalists Improving marketing effectiveness Getting customers to buy more Increasing operating excellence through: Shortening time to market Reducing cost in development Testing ideas earlier Strengthening workforce and culture by: Enabling employees to advocate Training the workforce Collaboration Business value is found between managing the risks and pursuing the rewards. Standing still is no longer an option.
- SOURCE: CMO Survey (Feb 2013): http://www.marketingcharts.com/wp/direct/cmos-bullish-about-social-media-spending-27300/ CMOs say that social media currently accounts for 8.4% of their marketing budgets, but that social’s share of the pie will jump to 11.5% over the next 12 months, and climb all the way to 21.6% share in the next 5 years. The latest survey shows that current spending (as a share of total marketing budgets) is highest among B2C-services companies (9.9%), with B2C-product (9.6%) and B2B-services (9.6%) companies close behind.
- We have developed a simple planning framework to deliver the most effective integrated model every time.
- There are five steps to create an effective “always-on” program: Listen – we listen to what people are saying and searching for to help drive strategic insight and establish benchmarks Plan & Activate – we design social experiences around 3 key components – Content Activation, Influencer Management and Community Management. The social experience is the creative idea brought to a full experience that will earn people’s attention, advocacy and action Amplify – we scale the impact of programs via paid advertising, content syndication and ongoing digital media relations – each helps extend reach Manage – once we launch, we are always measuring performance and optimizing our approach.
- We have developed a strong yet simple model for measuring the efficacy of our social media programs….
- It aligns with a model everyone understands – the sales funnel and allows us to report out KPIs against Reach, Preference – did we increase preference for a brand or opinion, and Action
- On February 13, 2013, US Senator Marco Rubio, while addressing millions of State of the Union viewers on television, hurriedly sipped from a Poland Springs bottle of water while on camera, which became the most talked about moment that evening on Twitter.
- Social media users anxiously awaited the Poland Springs to respond to this unexpected moment, and the brand missed an opportunity to insert itself in conversations during this unexpected cultural event. We see that surprising audiences with a quick response to an unexpected moment is the staple of RTM marketing success.
- As a result, for a subsequent campaign to promote personalised cans of tomato soup Heinz chose to use PayPal instead of selling directly on Facebook. Despite making the purchase journey a bit longer, we had no complaints as PayPal is a trusted online payment tool. Overall the soup sale achieved a global reach of 26m people, and gained a 650% increase in interactions on the page during the campaign. Ollerton said the key lessons they learned from the campaigns are that you have to reward people and innovate. You have to give people something they can’t get somewhere else, you can’t just replicate your e-commerce platform. Nokia global editor-in-chief for social media Thomas Messett echoed this sentiment. He said that too many companies use Facebook as a way to give away cheap products or discounts, which has no long-term benefit to the brand. If you put something cheap on your fan page, people will 'like' you to get something cheap. It doesn’t actually mean anything. Instead brands should use Facebook to offer exclusive or unique products to reward their fans, not just to replicate their e-commerce site. Messett said there is also value in rewarding customers for sharing purchases on Facebook, however brands have to make sure they get user consent first. Don’t be too pushy, it’s likely to turn people off. Frictionless sharing is a great idea, but Spotify has ruined it. This differentiates it from the traditional product launches consumers are used to seeing, and encourages Wispa fans to share the news with their Facebook friends. The photo of Mead holding the new product has attracted more than 1,500 ‘likes’ and 278 comments, meaning the launch will have also shown up in their friends’ news feeds. Cadbury is a good example of a brand utilising social effectively to generate buzz around its products and give the impression that its fans have some ownership over the brand. This is a cost effective way to leverage the brand's passionate customer base, establishing a market for a new product before it starts to appear in shops. Heinz ran a similar campaign in November around the release of a new ‘Tomato Ketchup blended with Balsamic Vinegar’. Facebook fans were offered the chance to buy the new product a month before it was released in shops. As brands continue to search for ways of converting their social media following into sales, product launches appear to be a simple way of gaining some tangible results from all those thousands of Facebook ‘likes’.
- A personal favourite of mine and quite more recent, the idea of a “Famebook Fan” is to use a natural, organic comment on a Facebook page and create a campaign concept from it, usually adding a layer of surreal comedy to it. A more recent example that has gone from Mashable to Metro in less than 24 hours is Bodyform, a sanitary towels company. After Facebook fan Richard Neil posted a tongue-in-cheek accusation to the company for altering the perception of what going through the period really entails, the brand did the unthinkable. The act of elevating some kind of user input (be it a Facebook post like this incident, or a more traditional letter to customer service like the case of Sainsburys Giraffe Bread)has yielded brands loads of benefits, such as: Portrays the brand in a more human manner, making the brand more approachable and easy to forgive when something slips through the crack. By adding a layer of comedy and a sprinkle of shock, they generate a lot of sharing, buzz online and earned media. Humour is proven to be one of the most powerful sharing triggers online. Bridges the gap between creative planners and strategists, and the audience they are trying to target - opening up a bidirectional conversation. It gives users a reason to be fans and engage with brands. There are many different ways in which you can use the input of your social media audience at the core of your advertising campaign. Being OK with losing some control and understanding the motivation of your audience to contribute with content or actions is key. From there on, it is a rather sweet journey to reach, advocacy, and engagement-lands.