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Social Media’s Return On Investment – When Will We Get Buy-in?
 

Social Media’s Return On Investment – When Will We Get Buy-in?

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Presentation Slides: NYC Social Media Club 6/17 Meeting w/Josh Chasin, Chief Research Officer, comScore, Inc. & David Binkowski, Director of Word of Mouth Marketing at MS&L. Moderated by: ...

Presentation Slides: NYC Social Media Club 6/17 Meeting w/Josh Chasin, Chief Research Officer, comScore, Inc. & David Binkowski, Director of Word of Mouth Marketing at MS&L. Moderated by: Donald Schwartz, Imagelink Productions

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    Social Media’s Return On Investment – When Will We Get Buy-in? Social Media’s Return On Investment – When Will We Get Buy-in? Presentation Transcript

    • The Social Media Club of NYC Presents: Social Media’s Return On Investment – When Will We Get Buy-in?June 17, 2009
      Presenters:
      Josh Chasin, Chief Research Officer, comScore, Inc.
      David Binkowski, Director of Word of Mouth Marketing at MS&L
      Moderator:
      Donald Schwartz, Dir. Online Promotion & Technology Writer, Imagelink Productions, Technology Coordinator Fast Company.com
       
      For NYC Social Media Club:
       Les Blatt, New Media and Multimedia Strategist
      Acknowledgments: PR Newswire
       
    • Social Media ROI
      Presented to SMCNYC
      June 17, 2009
    • Agenda
      comScore: Who we are
      Social media by the numbers
      Advertising in a web 2.0 world
    • comScore: Who We Are
    • 5
      What We Do….
      We are the largest provider of digital marketing intelligence, using a platform that helps our customers make better-informed business decisions and implement more effective digital business strategies
      We measure the continuous online activity of 2 million people globally who have granted us explicit permission to confidentially measure their Internet usage patterns.
      Our products and solutions provide our customers deep insights into consumer behavior, both online and offline
    • 6
      360° View of Consumer Behavior
      The Only Global Measurement of Audience and e-Commerce
      Web Visiting and Viewing
      Online Transactions
      Demographics
      Life Stages
      Search
      Behavior
      Streaming
      Video
      Media
      Exposure
      32 Media Metrix Reported Countries
      172 Countries with Sample Presence
      Powerful PlatformGlobal Panel of 2MM Users, Largest of Its Kind
    • 7
      8out of the top10
      CONSUMER BANKS
      10out of the top10
      INVESTMENT BANKS
      4out of the top5
      CABLE COMPANIES
      5out of the top5
      TELEPHONE CARRIERS
      7out of the top10
      PHARMA / HC COMPANIES
      23out of the top25
      ONLINE PROPERTIES
      7out of the top8
      CREDIT CARD ISSUERS
      45out of the top50
      INTERACTIVE AGENCIES
      9out of the top10
      US MEDIA
      Serving a Diverse Marketing Constituency
    • Social Media by the Numbers
      8
    • 9
      Worldwide Online Category Penetration vs. Growth
      How the World Uses the Internet
      • Most commonly used internet categories include Search, Entertainment, and Retail
      • Social Networking sites are exploding, so are Multimedia sites such as YouTube
      • Community and Personals sites are seeing negative growth, likely a result of Social Networking sites replacing a large part of these sites’ functionality
      Worldwide Online Category Penetration vs Growth
      90%
      Search/Navigation
      80%
      Retail
      70%
      e-mail
      Directories/Resources
      Downloads
      Social Networking*
      60%
      News/Info
      Multimedia
      Community
      Telecommunications
      50%
      Blogs
      Category Penetration (% of Online Users)
      ISP
      Reference
      40%
      Instant Messaging
      Photos
      30%
      Radio
      20%
      Personals
      Teens
      Retail - Music
      10%
      0%
      -40%
      -20%
      0%
      20%
      40%
      60%
      80%
      Category Growth Year Over Year
      Source: comScore World Metrix
    • 10
      The Growth of Social Networking
      • Social Networking sites are experiencing tremendous growth all over the world
      Social Networking Growth(Unique Visitors)
      Source: comScore World Metrix
    • In May 2009, 76% of US Internet Users Visited a Social Networking Property
    • 15 Month Trends: Monthly Unique Visitors (000) (US)
    • 15 Month Trends: Monthly Total Visits (000) (US)
    • Note that these numbers are computer access of the Internet and exclude mobile
      Show of hands; how many of you are twittering on your phone right this minute?)
      You can let me know: @jchasin
      That growth in visits looked small on the Facebook scale, so let’s blow it up…
      Ashton Kutcher joins Twitter
      Regarding Twitter…
    • 15 Month Trends: Average Daily Visitors (000) (US)
    • Facebook, Twitter Skew Older Than MySpaceTotal Minutes by Age Cell; May 2009; US
    • Total Internet Videos are Up 66% in 15 months
      Total Videos Streamed (000) in the US Over 15 Months
    • YouTube Videos are Up 98% in 15 months
      YouTube Videos Streamed (000) in the US Over 15 Months
    • Advertising in a Web 2.0 World
    • Advertising a la “Madmen”1950 – 2001 R.I.P
    • Advertising:Born 2001
    • The Traditional Mass media Construct
    • The Web 2.0, Social Media Construct
    • In the World of Social Media…
      Clarity is key
      Keep measurement simple
      Einstein: things should be as simple as possible… but no simpler
      Control is not the point
    • So What About ROI?
      First off… for many brands and categories, participation in social media may be about staying even
      Before thinking about ROI… we need to consider whether social media is at least a cost of doing business
      There is no one magic metric
      What to measure is a function of what you’re trying to accomplish
    • What Makes a Brand Advocate?
    • Why Is Social Media So Popular?
      Its Human Nature to Advocate
      Advocates represent ~40% of online category buyers
      AUTOMOTIVE
      CONSUMER ELECTRONICS
      HOME LOAN
      HOTELS
      Base (Advocate/Non-Advocate who purchased in the past 6 months/CE is 3 months)
      AUTO (196/382); CE (257/348); TRAVEL (176/447); HOME LOAN (195/299)
    • Advocates Extend Your Brand
      8.2
      20.3
      AUTO
      Advocates tell twice as many people about their purchases creating awareness…
      CONSUMER ELECTRONICS
      14.7
      7.2
      5.2
      11.1
      HOTELS
      4.5
      HOME LOANS
      9.2
      Base (Advocate/Non-Advocate who purchased in the past 6 months/CE is 3 months)
      AUTO (196/382); CE (257/348); TRAVEL (176/447); HOME LOAN (195/299)
    • Advocates Are Heavier Searchers
      Average Searches Per Month
      % Reach Social Networks
      104 Queries
      84%
      72 Queries
      47%
    • With Respect to Social Media ROI…
      Marketers fall into 2 categories:
      Those waiting to see if there is a way to generate a return
      Those who have already jumped in
      However….
      Thus far the success stories tend to be anecdotal case studies
      Dove on YouTube
      Dell on Twitter
      30
    • 31
    • The Takeaway
      32
    • The Takeaway
      Social media are pervasive and consumption is increasing
      Embracing web 2.0 marketing means letting go and diving in
      Not all brands and companies are comfortable with that
      Including some that think they are
      Brand advocates touch many more consumers with their influence
      And not surprisingly, are heavy users of social media
      Brand strategies (and ROI metrics) for social media need to be a function of brand goals and objectives
      There is no silver bullet
      You don’t need someone to prove to you the ROI of social media. You need to develop programs in line with goals and objectives, and figure out how to measure the ROI for YOU.
    • Social Media Club NY
      6/17/2009
    • 35
      Topics
      Introductions
      Setting expectations
      Defining ROI
      Case Study
      Q&A
      35
    • 36
      Who am I?
      SVP, Word of Mouth Marketing @ MS&L
      Run digital team in New York, formerly Ann Arbor
      Started WOM practice 5 years ago, wrote WOMMA blogger ethics code, MEAP
      Work across practices on digital strategy
    • 37
    • 38
      Setting Expectations
      38
    • 39
      Social media
      Reach
      39
    • 40
      Setting Goals
      Niche
      40
    • 41
      Defining ROI
      Qualitative vs. Quantitative
      What is your goal?
      • Sales
      • SEO
      • Reputation
      • Risk reduction
      • Client or customer retention
      • Efficiencies
      • Business Intelligence
      • Differentiation
      • Public Relations
      • Innovation
      • Filling jobs
      What is your company’s social media benchmark?
      Create shared business goals: Marketing, IT, customer service, finance
    • Social Media ROI for Wells Fargo
      Program
      Wells Fargo “Someday Stories”, a two-part user generated submissions contest asking people to describe what their “Someday” would be
      Execution
      • Utilize MS&L relationships to create buzz among bloggers and Twitterers
      • Facebook and Google PPC ads to drive entries and votes in both phases
      • Leverage Facebook Fan Page for finalists to build support for their entry
      • Sponsored blogger and Twitter meetups in key markets
      • Create interactive widget as “conversational collateral” for bloggers and social networks
      Results
      • Over 10,000 contest submissions for Phase 1
      • Drove 68,000 votes for Phase 2
      • 10,000,000 impressions from blog posts
    • Questions?
    • For more information on NYC Social Media Club, go to:
      www. socialmediaclub.org
      ©2009 Josh Chasin & David Binkowski