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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