social media\'s roi is real and measurable for b2b abd b2c organisations
DESCRIPTION
Companies continue to squander their marketing and advertising budgets on outdated techniques, many of which now return negative ROI\'s! Social Media, when used correctly and effectively can transform your B2B or B2C business literally within weeks.TRANSCRIPT
WHY SOCIAL MEDIA IS A MUST
FOR YOUR BUSINESS
Decision makers
interested in your products & services on Social Media
Social Media Frontiers Ltd. Your Business
Who Are Social Media Frontiers?
• We listen to what your target market wants, likes and dislikes and approach your potential clients with what they want
• We explore the internet to find and drive your ideal clients to you
• You become market leaders at interacting and managing your clients
• Our clients include: FTSE 100 companies World leading SME companies Government agencies Celebrities Sports stars
• Global client base: Europe Hong Kong Singapore Malaysia US New Zealand Australia
Internet users2 billion worldwide
80%
20%
UsingSocial Media
Housewives
CEOs
Managers
Employees
Entrepreneurs
Unemployed
Students
Affluent
SM Engagement
Target Market ShareAwareness
YOU
YOUCompetition
Competition
Traditional marketing Traditional online marketing
Quantity of Leads
Traditional Marketing Online and Offline VS Social Media
Social MediaQuality LeadsTarget Leads
Traditional marketing Traditional online marketing
(Passive Marketing) Wait for customers to find your Ad or Business
Social Media(Active Marketing) You can listen to 80% of the online users and bring the ones interested in your business to your door.
Its not all about how many Twitter followers and Facebook friends you have !
Its so much more….
Its about how many clients have chosen to be your Brands Advocates and how many of them are
ACTIVE and not Passive followers
@companyname
@Peter
@Paul
@Maria
@Thomas
@customer
Centralized interaction on a personal level
@customer
@customerAll the interaction can be monitored through one account
Customer Support
The KEY is to find your
target market
Listen
Peter: Does anybody knows
were I can find xxx?
RT @company
RT @company
RT @company
RT
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@peterHave you had a
look here? www.abc.com
@companyThanks great! Got it
and it is exactly what I needed
Solve their problem
Analyse and Engage
Customer and Brand advocate
RT
RT
RT
RT
RT
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RT
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&
The Power of Branding and Recommendation
In 24 hours
Linked to 17+ Million Professionals
Professional Connections
Mentions
Engage
DealsEngage
Listen to your market
Community creation
CRMCall to action
Share insides and transparency
Product information
Leadership content
Monitoring using statistics to control how much is too much
and how much is too little
CRM
Lead capture Recommen
dation Mentions
Sales Pipeline of Social Media
The Return On Investment of Social Media
The ROI of Social Media
Number of followersNumber of fansNumber of clicksNumber of visitsNumber of viewsNumber of friends
ROI =
The ROI of Social Media
• Brand Awareness (Value in £)• Google Ranking (Value in £)• Client Retention (Value in £)• Market Research Results (Value in £ of results gained)• Centralized and personalized Customer Service• Live personalized Customer Support• Monitoring of Brand mentions • Monitoring of Customer preferences• Monitoring of Customer feedback• Number of targeted leads• Cost avoidance for leads• Increase in Target Market influence • Viral marketing (Recommendation)• Increase in Sales
SM Company
Goals =
Value in £ of each Goal = You need to have a value for each and this value will be different from each company
EVERY SM GOAL CAN BE MEASURED
How to calculate the ROI of social media
This total value of the return gain per SM strategy
How do you define the social media return? How do you attach a dollar value to the return?
By calculating the result of each Strategy:
What is the average value of each customer you gain back?What is the conversion rate in sales of making 1000 target people aware of your brand?What is the conversion rate of visits to your website?
To calculate the ROI of an investment ROI = (return – investment) / investment *100
SM ROI = (SM return – SMinvestment) / investment *100
Social Media Outcome Result
Brand Awareness 3%
Google Ranking 4%
Client Retention 2%
Market Research Results 3%
Customer Service 4%
Live Customer Support 3%
Brand mentions 4%
Customer preferences 4%
Customer feedback 3%
Number of targeted leads 2%
Cost avoidance for leads 4%
Target Market influence 2%
Recommendations 4%
Sales 3%
Overall ROI for Social Media 45%
Social Media Evolution
When did Social Media emerge?
Social Media =
In 2011………..
?
Social Media =
Your Business
It should be……..
Twitter dictates your stock price!!
Importance of Social Media Mentions
Measure and control mentions on Social Media
= Measure and controlTarget Market Influence
Why Social Media is a MUST?
• Ability to monitor conversations about your organisation
• Ability to measure the frequency of the discussion about your brand
• Ability to address negative mentioning• Identification of new product or service opportunities• Early warning of potential product or service issues• Better understanding of customers perceptions of
your brand• Improved insights about your target markets• Improve customer retention
KEY Benefits:
• Your Social Media continues to grow all the time unlike one off payments for ads
• Greater favourable perceptions of the brand• Client database growth• Ability to develop targeted marketing activities• Increase in new business• Google ranking domination • Reduced overall marketing expenses with much
greater impact
Why Social Media is a MUST?
More KEY Benefits:
…they rank on Social Networks than in Google Ranks
“90% of consumer trust peer recommendation
Only 10% trust advertisement”
What we do for clients
*Due to privacy rights we can not show many of our clients results
INSTANT TARGETTED TRAFFIC
19,500 clicks in 7 days 2009
11,419 clicks in 2.5 days with only 1 new account
2011
Social Media B2B Facts and Case Studies
In order to succeed in B2B social media,
Companies must have the ability to create and amplify thought leadership content to keep high-level decision makers engaged
and conversing on their brand's differentiated value.
The great thing about B2B social media is that …
A single successful interaction with a single person who influences a multi-million dollar deal
can often justify social media investments
• 86% of B2B firms are using social media, compared to 82% of B2C
• B2B advertising spend on social media and lead generation sites is forecast to grow at an annualized rate of 21% and 17% respectively to 2013.
• Online accounted for 7% of the B2B marketing mix in 2008. This is set to reach 12% by 2013.
• B2B marketing spending on social networking sites is predicted to rise 43.3%.
• Forrester predicts B2B interactive marketing spending to reach $4.8 billion by 2014; almost double that estimated for 2009 ($2.3 billion).
• B2B social media marketing spending will grow from just $11 million in 2009 to $54 million in 2014.
• US business-to-business (B2B) advertising and marketing spending will increase by 0.8% this year, to $129 billion.
Social Media Marketing B2B Facts
86% of B2B firms are using social media, compared to 82% of B2C
All marketing (whether B2C or B2B) targets Real People
Real People are social
They enjoy conversations and value authentic relationships
The debate over whether or not Social Media is appropriate for B2B marketing
is not really a debate!
Some highlights from this research (start by looking at the right two columns):
• 91% of these technology decision-makers were Spectators; the highest number I've ever seen in a Social Technographics Profile. • This means you can count on the fact that your buyers are reading blogs, watching user generated video, and participating in other social media.• Note that 69% of them said they were using this technology for business purposes.• Only 5% are non-participants (Inactives).• 55% of these decision-makers were in social networks (Joiners); despite as mature businesspeople and not college students, you'd think they'd be participating a lot less.• 43% are creating media (blogs, uploading videos or articles, etc.) and 58% are Critics, reacting to content they see in social formats. Again the numbers are very high compared to other groups we've surveyed, and again the level of participation for business purposes is also very high .
The Social Technographics of Business Buyers
Read more about this here:
http://socialmediatoday.com/ClientFiles/2b461d74-0b05-4149-a6fd-33257181a2c7/sapnetworks.pdf
How Social Media Helped Cisco Shave $100,000 + Off a Product Launch
As early as 2008, networking giant Cisco was well along in its social media evolution. Back then you could find the company on Facebook, Twitter and YouTube.
Yet something was missing – the hard business case for social media. Like most companies, Cisco knew it was benefiting from social media, but it couldn’t prove it.
The launch of a new router using only social media would provide the proof Cisco’s marketers were seeking.
The results surprised even the social media enthusiasts. With this single project, the company shaved six figures off its launch expenses and set a new precedent for future product launches.
“It was classified as one of the top five launches in company history,” said LaSandra Brill, senior manager, global social media. “It was the crossing the chasm point for us in the adoption phase of social media and helped us get over the hump of internal acceptance.”
Social Media B2C Facts and Case Studies
Social Media Facts• 46% of micro business owners utilize social media
• By 2012, half of the world’s Internet users, 1 billion people, will have a Facebook account
• 46% of Internet users worldwide interact with social media on a daily basis, many of them are decision takers or business owners.
• 25% of social media users are more likely to look into a brand advertising on social media
• 15% of these users are more likely to purchase from social media advertisers
• 38% of Small & Micro Businesses would use social media more if they had more time or a convenient management solution
Social Media Facts
• $4.26 billion will be spent on social media marketing globally in 2011
• 48% of Twitter users check their account at least once a day
• 71% of Twitter users expect to receive marketing messages via the platform
• 78.6% of consumers have joined a company’s community to get more information on the company
Social Media Changes How Businesses Are Run
How can you become involved?
Your Social Media Implementation Plan
1. Start with your goals and strategies overall.
2. Identify and listen to existing conversations.
3. Know your audience; Are they local or worldwide? Which industry? What are their needs? Are they using social media? If they are, what social networks are they on? Are the employees on Social Media?
4. Choose the right social media channel; not all social media channels are right for your business. This will depend on you knowing your audience and the type of industry they are in.
5. Create a social media marketing plan; treat it as part of your traditional marketing plan, this might become the most effective part of your plan over the next years.
6. Empower and encourage your internal organization to participate
7. Create community; it's not about followers, it's about brand advocates. It's not about followers; it's about active followers, it's about people waiting for the information you share and following your lead.
8. Choose the right content; create leadership content to keep high- level decision makers engaged
9. Measure the results on all social media strategies you implement to invest more in the ones that bring the best results
10. Reward your followers; You will get more coverage in the press and attention to stand out from the crowd.
What do we do?
We have a variety of customizable service ranging from:
• Social Media Marketing Management for B2B and B2C
• Social Media Marketing Consultancy and Training
• CRM through Social Media
• Reputation Management
• Market Research on Social Media
• Mobile Marketing
• Potential Clients Database building using Mobile Marketing and Social Media
• Traffic generation to your website• Social Media Optimization (Google Ranking through Social Media)• Targeted growth of your Social Media• Improve customer retention and interaction• Implementation or Improvement of Customer Support in real time• Mobile Marketing implementation• Better understanding of customers perceptions of your brand• Potential Clients database growth• Ability to measure the frequency of the discussion about your brand• Address negative mentioning• Mobile App creation• Identification of new product or service opportunities• Early warning of potential product or service issues• Improved insights about your target markets• Greater favourable perceptions of the brand• Ability to develop targeted marketing activities• Increase in new business• Reduced overall marketing expenses with much greater impact
Selection From Services Below:
Social Media is growing rapidly; is your company growing with it?
Interested in Social Media Solutions for your Business?
SocialMediaFrontiers @SocialMediaF
Phone : +44 (0) 1223 969 054 Fax :+44 (0) 1223 280 242 E Mail :[email protected] Website :http://www.socialmediafrontiers.com/