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Automotive Social Media Reputation Management

Friday, June 25, 2010

Automotive Social Media Marketing Strategy Components

What are the Key Components that Make Up a Social Marketing Strategy?

Some key questions still unanswered...

It’s quickly becoming common wisdom among marketers that a strategy is needed to use social media effectively. Of course, that doesn’t mean a majority of those involved in the space have gotten on board yet and created such a well-thought-out approach.

According to a May 2010 study by Digital Brand Expressions, 52% of social marketers are operating “without a game plan,” similar to the 50% found in April 2010 by R2integrated.

Further, many that do have a strategy find it doesn’t address all their concerns or fit their needs. The most common elements included by companies with a social media communications plan were resource-allocation guidelines for ongoing activities, registration of branded usernames on social sites and research into competitors’ use of social media.

To be sure, those are all critical components of an effective strategy, but they are only the beginning.

When respondents were asked what they thought should be part of their company’s plan, their answers had a somewhat different focus. While resource allocation was still top of mind, 71% were concerned with preparing and distributing policies for ongoing communications, such as how to respond to comments on social sites. Just 45% of companies had such policies.

Respondents were equally concerned with the ongoing monitoring of brand reputation, at 71%, but only 52% had a plan for such activities.

The greatest disparity related to departmental protocols detailing how social sites should be used by sales, human resources, customer service and other groups within the company. While more than two-thirds of respondents saw a need for these policies, 29% were prepared.

That desire also highlights how social media has spread throughout many organizations and is not limited to marketing or PR departments. A majority of companies with a social strategy included marketing, PR and sales in their plans, but most respondents also thought that human resources and customer service should be added. Respondents agreed that, in general, responsibility for creating strategies should fall to marketing departments.

“Companies that have held back on adopting social media throughout their organizations would benefit from starting with a cohesive plan that involves all of the key groups within the organization,” said the report, while those that have already adopted the social channel should get all departments and employees on board with a complete strategy.

The greatest disparity related to departmental protocols detailing how social sites should be used by sales, human resources, customer service and other groups within the company. While more than two-thirds of respondents saw a need for these policies, 29% were prepared.

That desire also highlights how social media has spread throughout many organizations and is not limited to marketing or PR departments. A majority of companies with a social strategy included marketing, PR and sales in their plans, but most respondents also thought that human resources and customer service should be added. Respondents agreed that, in general, responsibility for creating strategies should fall to marketing departments.

Area that Is Responsible for the Creation/Maintenance of the Social Media Communications Plan According to US Companies, May 2010 (% of respondents)

"Companies that have held back on adopting social media throughout their organizations would benefit from starting with a cohesive plan that involves all of the key groups within the organization," said the report, while those that have already adopted the social channel should get all departments and employees on board with a complete strategy.

[Sent from Ralph Paglia's iPhone]

Ralph Paglia
Director - Digital Marketing
ADP Dealer Services
cell: 505-301-6369
RPaglia@Gmail.com

Location:Phoenix, Arizona

Tuesday, June 22, 2010

Ralph Paglia Invites Car Dealers and Internet Sales Managers to Dealer I...

Car Dealer and Internet Sales Manager Workshop


Location:Atlantic City

Automotive Social Media and Digital Marketing Workshop for Car Dealers a...

Canadian Economy Skipped the Recession

Canada's economy is suddenly the envy of the world

No financial meltdowns here, Canada boasts, and world leaders want in on the secret 

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On Sunday June 20, 2010, 4:51 pm EDT

TORONTO (AP) -- Canada thinks it can teach the world a thing or two about dodging financial meltdowns.

The 20 world leaders at an economic summit in Toronto next weekend will find themselves in a country that has avoided a banking crisis where others have floundered, and whose economy grew at a 6.1 percent annual rate in the first three months of this year. The housing market is hot and three-quarters of the 400,000 jobs lost during the recession have been recovered.

World leaders have noticed: President Barack Obama says the U.S. should take note of Canada's banking system, and Britain's Treasury chief is looking to emulate the Ottawa way on cutting deficits.

The land of a thousand stereotypes -- from Mounties and ice hockey to language wars and lousy weather -- is feeling entitled to do a bit of crowing as it hosts the G-20 summit of wealthy and developing nations.

"We should be proud of the performance of our financial system during the crisis," said Finance Minister Jim Flaherty in an interview with The Associated Press.

He recalled visiting China in 2007 and hearing suggestions "that the Canadian banks were perhaps boring and too risk-adverse. And when I was there two weeks ago some of my same counterparts were saying to me, 'You have a very solid, stable banking system in Canada,' and emphasizing that. There wasn't anything about being sufficiently risk-oriented."

The banks are stable because, in part, they're more regulated. As the U.S. and Europe loosened regulations on their financial industries over the last 15 years, Canada refused to do so. The banks also aren't as leveraged as their U.S. or European peers.

There was no mortgage meltdown or subprime crisis in Canada. Banks don't package mortgages and sell them to the private market, so they need to be sure their borrowers can pay back the loans.

In Canada's concentrated banking system, five major banks dominate the market and regulators know each of the top bank executives personally.

"Our banks were just better managed and we had better regulation," says former Prime Minister Paul Martin, the man credited with killing off a massive government deficit in the 1990s when he was finance minister, leading to 12 straight years of budget surpluses.

"I was absolutely amazed at senior bankers in the United States and Europe who didn't know the extent of the problem or they didn't know that people in some far-flung division were doing these kinds of things. It's just beyond belief," he told the AP.

The Conservative Party government of Stephen Harper that took over from Martin's Liberals in 2006 broadly stuck to his predecessor's approach, though he cut taxes and, when recession struck, pumped stimulus money into the economy, with the result that Canada again has a large deficit.

But it is recovering from the recession faster than others, and although its deficit is currently at a record high, the International Monetary Fund expects Canada to be the only one of the seven major industrialized democracies to return to surplus by 2015.

This month Canada became the first among them to raise interest rates since the global financial crisis began.

George Osborne, Britain's Treasury chief, has vowed to follow Canada's example on deficit reduction.

"They brought together the best brains both inside and outside government to carry out a fundamental reassessment of the role of the state," Osborne said in a speech.

It's a remarkable turnaround from 1993, when the Liberals took office facing a $30 billion deficit. Moody's downgraded Canada's credit rating twice. About 36 percent of the government's revenue went toward servicing debt.

"Our situation was dire. Canada was in a lot of trouble at that point," Martin said. "If we were going to preserve our health care and our education system we had to do it."

As finance minister, he slashed spending. A weak currency and a booming U.S. economy also helped Martin balance the books. In the 1998 budget the government estimated that about 55 percent of the deficit reduction came from economic growth and 35 percent from spending cuts.

"The rest of the world certainly thinks we're the model to follow," said Martin, who was prime minister from 2003 to 2006. "I've been asked by a lot of countries as to how to go about it."

Don Drummond, Martin's budget chief at the time, says the U.S. and Europe won't have it that easy, because the economic climate was better in the late 1990s than it is now, with large trade gains and falling interest rates.

"There's a lot to learn from Canada but their starting conditions are worse," he said. "Even though we were on the precipice of a crisis we weren't in as bad a shape as many of them are."

[Sent from Ralph Paglia's iPhone]

Ralph Paglia

Director - Digital Marketing

ADP Dealer Services

cell: 505-301-6369 

RPaglia@Gmail.com 

Wednesday, June 16, 2010

Social Media Marketing; Business Best Practices

5 Social Media Best Practices for Business
by Brian Solis

Social networks and blogs are changing how consumers find places and services, how and where they share their experiences, and eventually, where they will spend their time and money. Without an understanding of, and participation in, social networks, you can miss shaping and contributing to the decision-making process of those who define the success of your business.

While social media cheat-sheets and short cuts are available almost everywhere you look, the truth is that we have some work ahead of us. To help, I’ve assembled a list of five best practices to help you build, cultivate, and measure success in the new web right now.

1. Dedicate the time

We’re all very busy and our to-do list is never ending. Because time is a big concern, think about social media as an opportunity cost. Will your investment in identifying and connecting with prospects, customers, and influencers outperform your other activities? The answer is yes for most businesses, so carve out time for strategic experimentation. In short, you get out of it, what you invest.

2. Conquer your fears

Many business owners believe that social media gives people a chance to criticize their business. That’s true, but avoiding social media doesn’t mean that their opinions will never see the light of day. Your brand is at the mercy of those who take to social media to share their experiences, so you might as well take an active role to contributes to the stature and perception of your brand. You might even learn how to improve your product and service in the process.

3. Listen and research to learn and contribute

Social networking is far more effective when you realize that creating profiles and updating social networks aren’t arbitrary. There’s an art and science to all of this, and the process begins with listening and research. Step one: create a list of keywords that represent your market and then use the search box in each social network to see what people are saying about you. As you examine the results, you’ll identify the people who are leading conversations and the dialogue that invites and inspires participation. If local business is paramount to success, use services such as Twitter, Facebook, Yelp, LinkedIn. Also monitor location-based networks such as Foursquare, Gowalla, and Loopt.

4. Establish an attractive and expansive presence

Your presence online is far more valuable than you may realize. While you may think that you should focus on your website, your social-media presence also represents you and what you offer. The ability to showcase your products and services to attract customers and spark conversation is arguably greater on social networking sites than your own website. In any case, connecting the dots between social networks, websites, and the real world is now as important as the service and products that you offer.

5. Use engagement as the new customer service and marketing

It’s not what you say about you, it’s what they say about you that counts. Customer service and engagement overall is a new and genuine form of unmarketing. Customers, prospects, and influencers are already engaging with others to contribute, learn, and discover. They are forming and sharing opinions and making decisions based on the information they find online—with or without you. You should use engagement as a fast, free, and powerful way to reach and serve customers.

This is your time to engage! Doing so will earn you permanent residence in the hearts and minds of the people who make up your markets. This will expand market opportunities, build brand awareness, stimulate demand, and engender loyalty and advocacy.

Originally published on American Express OPEN Forum

Connect with Brian Solis on Twitter, LinkedIn, Tumblr, Google Buzz, Facebook

Please consider reading, Engage!: It might just change the way you think about Social Media

Get Putting the Public Back in Public Relations and The Conversation Prism:

Image Credit: Shutterstock

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