7 Secrets of Social Media Success

tweetThis post is a summary of the Twitter Chat hosted by @TheSocialCMO.  The guest was Wendy Clark – SVP, Integrated Marketing Communications & Capabilities at Coca-Cola, know on Twitter as @wnd(You know she’s an early adopter because she has a three letter handle!)

I’m pretty jaded about Twitter Chats because most of them are vapid.  Not this one.  I went to the TheSocialCMO Blog to read the transcript of this #MMChat and discovered some great information and insights. It is pretty hard to read b/c of all the re-tweets, so I thought it worth excerpting the questions (@TheSocialCMO and answers (@wnd).   Nice job all around.

#MMChat Transcript

Q1: What are the 7 Secrets of Social Media Success?

#1 Be Shareworthy. In a social world it’s abt an initial audience u can reach sharing ur content w/ an ultimate audience they reach

#2 Listen & Engage. Brands are listening but listening alone is not enough. We must engage in the dialog of our brands-in real time.

#3 Think big, start small, scale fast. Key to rapid innovation is testing, learning, failing, fixing – & then scaling

#4 Social’s an amplifier not a silver bullet. We’re big believers in the power of social to make everything else we’re doing better.

#5 Content is the new currency. Social network cache & success are incredibly important to teens & young adults. Create accordingly.

#6 We might be shepherds, stewards and guardians of our brands, but we no longer control them. Co-create & participate w/ your fans.

#7 Be Flawesome = awesome w/ your flaws. Consumers aren’t interested in ur corporate veneer. Brands must be real, authentic, human.

Q2: How easy or hard is it to really drive adoption of social media at a company the size of Coca-Cola?

A2: The key is supportive leadership. With our most senior leaders as believers we’ve been able to fuel change & adoption internally

A2: Another key is employee engagement. Our PR and Employee Comms teams have been masterful at training our associates

Q3: There’s been some press recently on Social not working as hard as you’d like it? Is this true? How do u determine ROI on Social? 

A3: Social works really hard as an integrated part of our Connections plans. As studies point to, Social + other media = better ROI

A3: Our core metrics for social are reach, engagement, brand love & brand value. All of which we achieve through integrated plans.

A3: Social works really hard as an integrated part of our Connections plans. As studies point to, Social + other media = better ROI

Q4: You’ve also said publicly that corporations particularly have to embrace failure. Say more about this?

A4: We must fuel a company culture that accepts and learns from failure, if not we will miss key learnings as we innovate.

A4: I feel really strongly about this. Failing to learn is the real failure that I fear, not failure itself.

A4: Our CEO Muhtar Kent says it’s ok to fail once, it’s not ok to failure twice at the same thing. Not learning is the failure.

Q5: Is there a failure Coca-Cola’s made in Social that you’d like to share?

A5: Ha! How long is this chat?

A5: Plenty. That’s how you improve.

A5: Early on we replicated successful content. Of course those versions didn’t spread far. We learned originality is critical online

A5: We also thought early on that we could plan real-time engagement — turns out real-time is, er, real-time.

Q6: How does Coca-Cola feel about user generated content?

A6: I’d say 80%+ of the content & conversation online around our brands is not from us, so UGC is a big part of our engagement

A6: That said, I don’t think brands should completely delegate their proxy to consumers. The best UGC is co-created.

A6: Brands and consumers participating and co-creating together can be a 1+1=3 scenario.

Q7: Can you talk more about the innovation model Coke’s using in terms of 70/20/10?

A7: 70/20/10 is a now/new/next model to ensure we’re innovating in our marketing investment.

A7: 70/20/10 = 70% on what we know works now; 20% on things that are new to our plans; 10% on complete unknowns (next)

Q8: 61MM+ Facebook likes makes Coke FB’s largest brand fan page, how did you grow to that size?

A8: We’re humbled by the size & growth of our FB page. We don’t take it 4 granted & try to fuel a Community that’s of & for our fans

A8: #CocaCola is among the most well-known & ubiquitous brands in the world, our growth on FB has been largely organic.

A8: #CocaCola’s FB fan page typically grows by about 1MM Likes every 10-15 days.

A8: BUT! When we activate poorly or don’t put our Fans First in our FB Community our disconnects can go up by 4x. #BeShareworthy

Q9: How do you think about aggregating Social as a company operating in over 200 countries?

A9: At #CocaCola Social is executed locally. We use internal publishing tools to aggregate, clear & share good content across mrkts

A9: The currency of conversation on social networks manifests locally. It might spread globally, but social is inherently local.

Q10: Are there brands you envy in the Social space? Who do you benchmark?

A10: We envy many – we try to constantly innovate & improve in the space – b/c standing still & the status quo is unacceptable to us

A10: We had Troy Carter (@ladygaga’s manager) at our global marketing mtg. There’s much to learn from the way celebrities use Social

I have been working in and around social media since 2003 (before Twitter . . .) and this is some of the best advice I have seen.

@tomob

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