I have my fanbase - now show me the money!
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The document discusses the importance of measuring ROI in social media, addressing challenges in proving value through fragmented platforms and the need to integrate strategies with broader business objectives. It emphasizes building brand value through customer engagement, using social media as a CRM channel, and creating direct earning channels, supported by case studies. Additionally, it highlights the necessity of establishing metrics to effectively assess the impact of social media on sales and customer relationships.
I have my fanbase - now show me the money!
- 5. First things first We’re not going to talk a lot about the basics that you always hear about social media But, they are still valuable activities Opening two way conversations & creating brand affinity Leveraging amplification opportunities Generating buzz Learning about your customers and fanbase Learning from your customers
- 6. WHY IS ROI IN SOCIAL A BIG DEAL RIGHT NOW?
- 7. Building up a fan base
- 8. Challenges to proving ROI and monetising social • Fragmented platforms & measuring tools • Closing the loop between marketing efforts and actual sales • Expectations of digital marketing 9
- 9. SO WHERE DO WE START?
- 10. Laying the groundwork • What are the key goals of your social media program? Do these goals and tactics tie back to your broader business objectives? • What audience are you trying to reach? • What are the key performance indicators (KPIs) that will help you evaluate the success of your program? • Ultimately, look at how you can tie back to business measures 11
- 11. Building and Measuring Value Find new ways to create value for your brand using social - build Put a strategy in place to show the monetary value social media is bringing - measure 12
- 12. BUILDING VALUE
- 13. Customer Service Twitter and Facebook are both commonly used platforms for this Convenient for consumers Create positive stories Measurable impact 14
- 14. Air Asia 15
- 15. Air Asia 16
- 16. Social as a CRM channel Social can be used to complement your existing CRM channel Extract value from customer interactions Capture and analysis of customer data in the traditional CRM software model remains valid The challenge is to find a way to extract value from conversations in channels that are outside the company. 17
- 17. Auto industry examples 18
- 18. GM 19
- 19. Harley Davidson 20
- 20. Create Direct Earning channels Driving to purchase eCommerce within social – or connected to social Alternative revenue streams Consumer value proposition 21
- 21. Yepme 125% increase in conversion rate 4.5x ROI Based on performance, now allocate 80% of marketing budget on Facebook
- 22. Lawson Driving consumers to purchase at physical outlet Integration with POS closed the loop to sales 70% of customers who redeemed the Offer bought other products
- 23. Pinterest 24
- 24. Pinterest 25
- 25. eCommerce Socially integrated store Built into social 26
- 26. THE NIVEA STORY
- 28. Always On
- 30. Direct Purchase
- 31. Results
- 32. Results Planned 4 – 6 weeks Sold out in 1 week in Australia And 1 hour in New Zealand!
- 33. Alternative Revenue Streams New ways to make money 34
- 34. Mediacorp
- 35. Consumer Value Proposition Post-purchase support Community Creating absolute utility 36
- 36. AMEX
- 37. AMEX
- 38. HOW DO I ACTUALLY MEASURE RETURNS?
- 39. Value of a fan Establish the link between your fans and your customers Then measure & prove the effect 40
- 41. Measure direct earning channels Purchase within Social Using social to drive to purchase Alternative revenue streams Measure effectiveness of CRM channels 42
- 43. Online has struggled to create standards for the metrics that matter Radio (1930’s) Television (1950’s) Internet (1990’s)
- 44. Clicks do not equal sales Nielsen NetEffect meta analysis: “There is no correlation between CTR and ROI%” 1400% 900% ROI % 400% Breakeven 0.00% 0.10% 0.20% 0.30% -100% Click through Rate Correlation = -.07%
- 45. Advertising Effectiveness Measurement Reach Did I reach the right number of people and the right type of people for the right number of times? Brand Resonance Did I improve my brand’s image and change the attitudes of customers? Reaction Did I cause a customer to act? To buy a product, sign up for a service, or make a referral?
- 46. Samsung
- 48. Summary ROI in social is measurable – more so than many other marketing channels Unique sources of brand value Be creative
- 49. Q&A
- 50. POLL RESULTS
- 51. THANK YOU! X