Saturday, May 29, 2010

The Social Media Strategist

Develop comprehensive social media strategy, leveraging the major social networks (LinkedIn, FaceBook, Twitter, YouTube, MySpace), blogs, video, stand-alone social newtorks, social commerce and more.
Define ROI and success benchmarks and methods to ensure business objectives are met through social media engagement

Understand how to implement digital strategies in a marketing environment, knowing the parameters and KPIs that are unique to certain industries/clients.

Author creative messaging and content for social media communications

Awareness of latest social media developments, online behavior and trends.

Research existing and emerging social / professional networking channels, platforms, blogs, and applications for new ways to reach and engage in conversation with consumers.

Energize and train account teams and clients on social media best practices

Identify new opportunities to drive revenue, and organic growth, by fully leveraging capabilities of social media platforms

Develop and distribute regular client reports regarding campaign status and social media metrics

Expert in all things digital, including: blogging/microblogging, podcasting, video sharing and streaming, widgets and gadgets, viral campaign management, mobile marketing, social networking, etc.

Provide strategic counsel to clients and account team members on day-to-day issues.

Develop results-oriented strategic plans; develop creative, interactive ideas and concepts to expand new and existing programs, resulting in superior client engagements and an increase in agency revenues
Monitor projects to ensure that deadlines and quality assurance standards are met

LTV, LC and RFM connection

LTV is a measurement of net financial value contributed by a customer, and Lift measures are like a "time slice" of the overall LTV curve expressed over time.

LifeCycles are a management framework for programs designed to affect LTV, and models using Recency, Frequency, and Monetary are used to look at a "time slice" of the LifeCycle.

LTV can generally be increased in two ways: by creating more value during the existing LifeCycle, or by extending the LifeCycle. Marketing (including Product) is typically used when doing the first, Service and Operations -customer experience and
satisfaction -are largely what can affect the second.

So it is completely appropriate to establish a unified approach to the measurement of customer programs intended to increase the value of a customer across all these disciplines, in order to ensure the allocation of scarce resources to highest and best use.