commercialising communities - swarm 2013
DESCRIPTION
Kelly Brough and Michael Eva Communities can be commercialised in a variety of well documented ways. But how do you know which is right for you? And what’s the plan once you have? Bringing recent case studies to the floor, Kelly and Michael lead an interactive session with participants to identify, map and apply the commercial model most suitable for their community, examining how to test and iterate within that process.TRANSCRIPT
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Commercialising
Communities
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Agenda – Commercialising Communities
1.Introductions2.A Community’s Value3.Direct commercialisation4.Indirect commercialisation5.Measuring ROI6.Wrap-up
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What you should take away…
1.An understanding of the key community commercialisation models.
2.How they apply to your community.
3.How to prove the value of your community.
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Introductions
16Community Managers
2Designers
2SAMs
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Introductions
Almost 300 Australian businesses managed on
social media
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Introductions
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Over to you…
Let’s hear about the type of community you run.
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Finding a Community’s
Value
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Finding Your Community’s Value
49%of CMOs don’t know the value of their social.*
*The CMO Survey - 2013
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Finding Your Community’s Value
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Finding Your Community’s Value
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Finding Your Community’s Value
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Finding Your Community’s Value
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Question
Do you know the value that your community does or could provide to your business?
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Direct Monetisation
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Advertising
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Affiliate Marketing
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Branded Content
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…And more.
E-commerceDonationsPay-walls
EventsPodcasting
Email marketingAnd more..
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Truelocal Monetisation?
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Question
Has anyone tried any of these commercialisation strategies?
Are any of these right for your communities?
Are there any strategies you’d like to try?
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Indirect Monetisation
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Indirect Monetisation
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Yelp - Indirect Monetisation
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Beletti
Restaurant and Café in Melbourne Suburbs
•What is Beletti’s community ROI?
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Beletti
Restaurant and Café in Melbourne Suburbs
•Customer retention and loyalty.•1149 Likes•Anecdotal uplift in bookings
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SOHO Dresses
Online fashion retailer
•What is SOHO dresses community ROI?
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SOHO Dresses
Online fashion retailer
•Over 3000 likes.•Sales have doubled along with traffic.
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Tas IVF
IVF Clinic
•What is Tas IVF’s ROI from social?
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Tas IVF
IVF Clinic
•1200 Likes•Building a safe community for women engaging in or interested in IVF•Referrals have grown by 8%•Procedures have increased by 13%
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Daalders
Exhausts and Mufflers Business
•What is Daalders ROI from social?
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Daalders
Exhausts and Mufflers Business
•1500 Likes•Solid number of customer service enquires.•Showcases business products.
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Questions
In what way is your community indirectly generating revenue?
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How to Commercialise
Your Community
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Direct
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Indirect
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Commercialising White Pages Community
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White Pages Report
•Key Growth Metrics
•Benchmarking•Reporting on growth metrics
•Aligning goals with the wider
business?
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Key Stakeholder Engagement
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Question
What will you STOP, MINIMISE, KEEP DOING, do MORE of and START?
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Measuring ROI
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Indirect Monetisation
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What’s Important to Your Business?
SalesSubscriptions
Direct revenueRatingsTraffic
Customer retentionDonations
?
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Question
What are the core objectives of your business?
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ROI – Analytics and Tracking
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ROI – Earned Media Value
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ROI – Earned Media Value
US$174=
Synapcase 2013- - http://www.syncapse.com/value-of-a-facebook-fan-2013/#.UW6uQrVJNQU
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ROI – Business Data and Timelines
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ROI – Word of Mouth
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ROI Planning
1.Identify business goals.
2.Define success metrics.
3.Benchmark.4.Track, measure,
correlate, and adjust.
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Example – Roadmap and Reporting
•Set the benchmarks for measuring ROI –
Roadmap.
•Return to those benchmarks as often as
possible through reporting.
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Question
What metrics should you be reporting for your community?
How could you be tying that value in better with wider business
objectives?
Who should you be reporting to?
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Wrap-Up
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Wrap-Up
Commercialisation can be direct or indirect.
Regardless, it’s important to
understand and demonstrate the
value your community provides
your business.
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Direct
1)Are you ready to directly commercialise?1)Is your community big enough?2)Will they accept commercialisation?3)Do you have wider business support?
2)Don’t limit yourself to one strategy but focus on one to start with a get it right.
3)Implement lightly and be prepared to change if needed.
4)Measure and analyse.
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Indirect
1)Tie your community back to core business objectives.
2)Find a way to measure and track your community against core business metrics.