ilona fpra luncheon

17
Social Media Measurement The Why’s and How To’s @eyelona Ilona Olayan www.socialstrategy1.com

Upload: ilona418

Post on 02-Nov-2014

357 views

Category:

Technology


3 download

DESCRIPTION

 

TRANSCRIPT

Page 1: Ilona fpra luncheon

Social Media Measurement

The Why’s and How To’s

@eyelonaIlona Olayan

www.socialstrategy1.com

Page 2: Ilona fpra luncheon

2

Page 3: Ilona fpra luncheon

3

Evolution of Online Marketing

Experimentation• Value: Web as a

promotional vehicle• Primary Goals: Trial of

a new media concept, gain eyeballs, build brand and drive awareness

• Measurements: Cost per impression

• Marketing tactics:– Branding – buttons,

banners– Email – newsletters,

list rentals

Relationship• Value: Web as a relationship

management platform• Primary Goals: Engaging

prospects and customers outside of their website

• Secondary Goals: Lead generation, drive traffic, thought leadership and branding

• Measurements: Cost of sales, customer retention, brand penetration, measurement from interaction/direct results stage

• Marketing tactics:– Video communities– Two-way ads– Messaging connections using

trigger marketing– Successful tactics from direct

results stage

Direct Results• Value: Web as a direct

results platform• Primary Goals: Drive

traffic and lead generation• Secondary Goals: Thought

leadership and branding• Measurements: CPL, CPC,

brand measurements confirmed through surveys

• Marketing tactics:– Search ads– Lead gen – white papers,

webcasts– Branding – microsites– Email – list rentals

Page 4: Ilona fpra luncheon
Page 5: Ilona fpra luncheon

5

Page 6: Ilona fpra luncheon

6

Consider…• Social networks and blogs are the 4th most popular

activity…ahead of personal email

• 82.5 million people created online content in the US

alone in 2008 – 116 million this year and growing

– 71 million on social networks

– 21 million posted blogs

– 15 million uploaded videos

– 11 million participated in virtual worlds

• Yelp! had 38 million unique visitors in August and

12 million reviews to date

• 87% trust peer recommendationsSource: eMarketer

Page 7: Ilona fpra luncheon

7

Fiduciary Responsibility• Social media strategy because it touches every facet

of your business

– Your company’s success or failure will be largely

dependent on your social media success.

• So what are the steps that companies need to take in social media? There are 4 primary ones:

1. Listen: What is being said about us?

2. Learn: After listening you can then join and contribute to

the conversation

3. React: This means what are you doing about it what is

being said? Are you improving your product or service

based on this feedback?

4. Sell: All of the first three steps contribute to your

ultimate goal of selling more!

Page 8: Ilona fpra luncheon

• According to McKinsey (April 2010):– “The rewards of pursuing excellence in word-of-mouth

are huge, and it can deliver a significant competitive edge few other marketing approaches can match”

– “It’s the most disruptive factor in marketing”

– “Marketing-induced consumer-to-consumer word of mouth generates more than twice the sales of paid advertising”

• When McKinsey weighs in, your know you’re talking about a topic that has C-Suite attention

8

The Power of Word of Mouth

Page 9: Ilona fpra luncheon

9

Who is Watching Those Mentions For Your Brand and What Can You Do With

It?• Using Human Intelligence to ‘make sense of the noise’

– Gauge relevant sentiment

– Develop online business strategy

– Establish FAQs to address underlying online sentiment

– Execute implementation strategy

– Engage with audience using FAQs as general guidelines• Proactive – with coupons, incentives and promotions

• Reactive - by selectively responding to sentiment with fact

• Escalate comments which can lead to sales or marketing opportunities (i.e. leads, testimonials, legal)

• Identify similar online communities for business benefit and proactively participate

– Analyze and discuss important metrics acquired through systems like Social Strategy1

– Make recommendations to adjust strategy based on sentimentDon’t Miss the Opportunity to Connect with Buyers!

Page 10: Ilona fpra luncheon

10

Social Media for Lead Generation

Page 11: Ilona fpra luncheon

Dunkin Donuts Online Success

• Maintain 80% fewer Facebook and Twitter followers than Starbucks

• Dunkin’ Donuts fans 35% more likely to recommend the brand (Starbucks lack of personal connection, superiority of taste, shareholder value)

• Online Marketing Approach is “turn real people into online celebrities”

• Contest – Customer submitted pics of themselves drinking iced coffee in

the winter matched with in store discount

• Results– 140 submissions generated 3.9 million product plugs

through posts and status updates– Next online only contest drew 290,674 submissions and now

an annual event

Page 12: Ilona fpra luncheon
Page 13: Ilona fpra luncheon

13

Gap’s Real Monetization Story

• Resulted in 440,000 purchases equating to $11 million in sales.

• With a national TV campaign, what’s the likelihood they would have gotten nearly 500,000 paying buyers in the store?

Page 14: Ilona fpra luncheon

14

Monitor Conversations about Your Brand and Competitors 

• Proven value of monitoring conversations and responding to leads

• 8th Continent monitored mentions of Silk brand soy milk, one of their competitors, and offered trial coupons to users

• One tweeter received a coupon after tweeting about her bad experience with Silk chocolate soy milk –redeemed that week.

• Coupons distributed via social media resulted in 39% redemption rate, versus the 0.7% redemption of hard copy coupons

• During coupon promotions they saw huge spikes in their fan base and a lot of pass along

Page 15: Ilona fpra luncheon

Measurement

• Revenue– Revenue is one form of the metrics we use to

measure

– While much of social media is free, we do know the cost of engagement as it relates to:

• Employees

• Time

• Equipment

• Opportunity cost (what they’re not focusing on or accomplishing while engaging in social media).

– Tying those costs to the results will reveal a formula for assessing the “I” in investment.

Page 16: Ilona fpra luncheon

What’s the Cost of Doing Nothing?

16

Do You Really Want to Take That Risk?

“In 2011 there will be an estimated 3 billion people using the

Internet to communicate, collaborate

and link with other like-minded folks.”

- Tom Hayes | Jump Point

Page 17: Ilona fpra luncheon

17

Contact Information

• Ilona Olayan | Director, Marketing and Sales Support | Social Strategy1

• www.socialstrategy1.com

[email protected] • Twitter:@eyelona & @sstrategy1