social media roi
TRANSCRIPT
October 30, 2009
#SMROI
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Today’s Speakers
Larry WeberChairman
Digital Influence Group andRacepoint Group@thelarryweber
Alex MouldovanCEO
Crowd Factory@amiam
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Agenda
• Larry’s perspective • Alex’s perspective• Dialogue between Larry and Alex• Audience Q&A
#SMROI
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Introducing Larry Weber
ChairmanDigital Influence Group and
Racepoint Group@thelarryweber
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About Us
Full service digital agency that is social media at its core
A global public relations agency that helps clients harness the power of both traditional and social media to build and protect reputation and drive business
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Integrated Social Marketing
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Creating Sustained Social Marketing ROI
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Using Data to Manage Your Campaign
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Choosing the Right Tools
1010
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Community Destination
Earned Media Outreach
NYC Public Library Event
Blogger Contest Widget
PROGRAM STRATEGY
Proprietary and Confidential
SonyStyle In <90 Days:o 1.57 million mentions and links on Twittero 29,539 unique product page visits o 178,070 page viewso 1,866 registered words move me memberso 11,600 users driven to Reader product pages
resulting in significant online sales impact
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Introducing Alex Mouldovan
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CEOCrowd Factory
@amiam
Measuring ROI of Social Media
add
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84% of business buyers say Word of Mouth is #1 influencer of purchase decisions
Social Media is Transforming Business
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Fail early, fail oftenMeasure every point of conversion, and build social equity in your brand.
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Social Web Presence Facebook Twitter Myspace
Social Network Ads
Listening platforms Radian 6
Collaboration Wikis Basecamp
Sharing Sharethis, addthis, etc.
Ideation MyStarbucksIdea.com
Customer Service Message boards for self service @zappos
Brand communities Photo Contest Comments, boards Widgets
Experimentation - Precursor to ROI
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Increased Revenue Lead generation driven by word of mouth Conversion driven by user endorsements
Increased Reach for Lower CPA Brand advocates drive more reach and influence than emails / ads
Network Value of Customer Customer Lifetime Value = their direct value + their network’s value WOM marketing 3X as effective as traditional marketing (Harvard
Business Review)
Social Marketing is Explosive
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Feed – the New Email
Ashton listened to Coldplay’s new single
Ashton listened to Coldplay’s new single. Visit pop.to/billboard to listen too!
Feed user actions on brand website to social web
Brand reaches further with less marketing spend
Traceable links and customizable templates for Facebook posts
Ashton Kutcher
Great idea Ashton. Maybe we should all do it.
Oprah Winfrey
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Lower cost of acquisition
Leverage influence
Automate word of mouth
Map influence
Feed Marketing
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$2,000,000+ in sales from sending special offers from its Dell Outlet store to 600,000+ Twitter followers ~ Dell, 2009
Grew its Gen X customer base by 55% by introducing products tailored to their needs (manage expenses long term savings, not retirement) learned through community dialog
Marriott has made more than $5 million in bookings from people who clicked through to the reservation page from Marriott's blog ~ Marriot, ’08
CDW increased customer value 17% using decision maker communities to inspire new lead gen approaches… new account managers using community best practices bring in more new customers… these customers are 4X more valuable than through other channels
Ebay found in 2006 that participants in online communities spend 54% more than non-community users.
Example ROI
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Best Practices Develop and monitor social brand presence Engage users to increase time on site and conversion Incent desired behaviors with reputation & rewards Track influencers, campaign performance, feed marketing
Measure Social Marketing ROI Optimize marketing mix Create viral loops through feed marketing Illuminate and leverage influence Segment + target actions
Call to Action
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Integrated view of all the social activity (brand and customer) and impact Traffic / customer growth Activity / engagement
Social analytics Top influencers User segments Social conversion funnel Content performance Campaign a/b testing Network performance (FB vs. twitter) Trending
Customer Network Value = customer lifetime value + customer network value
Track Progress
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Social is reshaping business Tune in to what’s working and test it for your business
Social marketing = fastest growing and highest value Greater reach and lower CPA than traditional marketing alone
Use tracking capabilities to identify what’s working and optimize
Start simple and iterate rapidly
Conclusions
…engage with Social Onsite––––––––––––––––––––––––––––––––––––––
Power unique social website experiences with go anywhere APIs. Get to value
quickly with widgets. Leverage Social Connect (e.g. Facebook Connect, Twitter) to
acquire /authenticate, and improve registration conversions.
…acquire with Social Connect
–––––––––––––––––––––––––––––––––––––––––Seamlessly generate word of mouth.
Quickly launch social marketing campaigns for lead generation. Social Connect
integrates your marketing and community with Facebook, Twitter, Yahoo! and
Myspace.
…optimize with Social Insight
–––––––––––––––––––––––––––––––––––––––Actionable Analytics. Identify influencers to
acquire and retain customers. Build segments based on social behaviors, and
then launch campaigns against those segments. Turn insight into revenue.
Crowd Factory Can Help
[email protected]@crowdfactory
Crowd Factory Can Help
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Larry and Alex Discussion
Larry Weber Alex Mouldovan
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Questions from the Audience
Feel free to type in your questions for Larry and Alex.
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Additional Resources
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1. To get a copy of our white paper on “Measuring Social Media ROI”
Email: [email protected]
• To share the recording of this webinar
www.racepointgroup.com/digital/resources.cfm www.crowdfactory.com
• Other questions, contact:Jackie Lustig at [email protected] Rozic at [email protected]