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Naked Truth About Social Media ROI - Webinar
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Naked Truth About Social Media ROI - Webinar

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If you don't think social media ROI can be measured, you need to learn the truth. Social media and word of mouth are more influential than any type of advertising, but many companies are not measuring ...

If you don't think social media ROI can be measured, you need to learn the truth. Social media and word of mouth are more influential than any type of advertising, but many companies are not measuring its impact on sales. Marketers approaching social media with a direct marketing mindset and organizing their programs with the right methodology can clearly determine its impact on sales and ROI.

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  • BC/MF But our network is only part of the equation. Our methodology and technical platform really make it work. In simple terms, our process is comprised of three steps: Target: finding the right people to participate in BzzCampaign Engage: creating the online and offline experience that makes Agents product experts and motivates them to share Activate: the actual peer conversations, online and face to face. This process is supported by full organization to keep participation relevant and productive. Content is monitored for appropriateness and urgent product issues. All participation is tightly measured to show campaign reach and impact.
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Naked Truth About Social Media ROI - Webinar Naked Truth About Social Media ROI - Webinar Presentation Transcript

  • Measuring Social Media ROI Social Activation Webinar Series February 2011
    • The Naked Truth About Social Media ROI
    • Social media is what you make it
    • You can make it drive sales
    • Here’s how its done
  • Today’s Presenters
    • Malcolm Faulds
    • SVP Marketing
    • Steve McLaughlin
    • VP Analytics
    • Brian Cavoli
    • Director of Marketing
    Submit Your Questions for Discussion After the Presentation
  • Skepticism About Measuring Social Media
  • Different Types of Social Media Measurement ROI Pyramid
  • Social Media is What You Make It
    • Benefits the entire organization… for different reasons
    • Marketers need to show sales
    • Direct marketing mindset
    • Build to collect the right data
    • Measurement must be in dollars
    “ Brands must be built on the experiences they deliver and not merely the messages they advertise.” - Forrester Research
  • BzzAgent Process Influential consumers 250+ Data points Social Impact Metric Brand Affinity/Experience Experience the product Understand the benefits Participants spread WOM and share digital content. Tracked for: - Performance - FTC compliance Target Engage Activate Our process creates large-scale advocacy for consumer products
  • Hierarchy of Social Measurement Practices Options for Measuring Sales Impact Vary in Sophistication / Relevance and Should Be Selected According to the Marketer’s Business Situation Measurement Practices to Evaluate Sales & ROI Impact 1. Test vs. Control 2. Surveys 3. Couponing 4. Marketing Mix Modeling
  • Hierarchy of Social Measurement Practices 1. Test vs. Control 2. Surveys 3. Couponing 4. Marketing Mix Modeling Measurement Practices to Evaluate Sales & ROI Impact Options for Measuring Sales Impact Vary in Sophistication / Relevance and Should Be Selected According to the Marketer’s Business Situation
  • Surveys
    • Can be an aid to judgment when directly tracking sales is not an option
    • Directly ask consumers about their buying behavior
    • Can provide broad range of directional insights to help diagnose the “why”
    Self-Reported Consumer Activity
  • Surveys BzzAgent deploys pre and post campaign surveys for every campaign
  • Hierarchy of Social Measurement Practices 1. Test vs. Control 2. Surveys 3. Couponing 4. Marketing Mix Modeling Measurement Practices to Evaluate Sales & ROI Impact Options for Measuring Sales Impact Vary in Sophistication / Relevance and Should Be Selected According to the Marketer’s Business Situation
  • Coupons and Promo Codes
    • Simple & direct method to measure sales
    • Tracking to media, placement and creative
    • Relevant for offline and online sharing
    • Use rising significantly due to digital media
    • Tremendous Groupon success
    A Transactional Window into Campaign Impact
  • Coupons and Promo Codes BzzAgent campaigns typically include trackable coupons / promo codes Redemption Averages
  • Hierarchy of Social Measurement Practices 1. Test vs. Control 2. Surveys 3. Couponing 4. Marketing Mix Modeling Measurement Practices to Evaluate Sales & ROI Impact Options for Measuring Sales Impact Vary in Sophistication / Relevance and Should Be Selected According to the Marketer’s Business Situation
  • Test vs. Control
    • Comparing sales between two audience groups
    • Test group exposed to stimulus and control group not exposed
    • Examples of types:
      • Geographic matched markets
      • Online exposed/control, panels
    Identifying Campaign Impact through Audience Comparison
  • Test vs. Control BzzAgent campaigns can be measured through 3 rd party Matched Market Tests
  • Test vs. Control BzzAgent campaigns can be measured through 3 rd party Matched Market Tests
  • Hierarchy of Social Measurement Practices 1. Test vs. Control 2. Surveys 3. Couponing 4. Marketing Mix Modeling Measurement Practices to Evaluate Sales & ROI Impact Options for Measuring Sales Impact Vary in Sophistication / Relevance and Should Be Selected According to the Marketer’s Business Situation
  • Marketing Mix Modeling (MMM)
    • Statistical analysis, estimates and predicts impact of media spend on sales & ROI
    • Cross channel view of impact
    • Widespread use among CPGs, and adopted by other industries
    • Analysis typically led by 3rd party analytic companies (IRI, Nielsen, MMA, etc)
    Draftfield Analytics 1/1/2010 1/15/2010 1/29/2010 2/12/2010 2/26/2010 3/11/2010 3/25/2010 4/8/2010 4/22/2010 5/6/2010 5/20/2010 6/3/2010 6/17/2010 7/1/2020 1/1/2010 1/15/2010 1/29/2010 2/12/2010 2/26/2010 3/11/2010 3/25/2010 4/8/2010 4/22/2010 5/6/2010 5/20/2010 6/3/2010 6/17/2010 7/1/2020
  • Marketing Mix Modeling Challenges
    • Relative small scale of spend and exposure (vs. other mediums)
    • New media formats can be more complex / variable
    • Delineation / identification of stimulus vs. response
    Social media / word of mouth not easily measured in MMM due to:
    • Ability to measure and create the right data input for the models
      • Weekly impressions by market
      • Availability of granular data
      • Variability in data (time, volume, market)
  • Marketing Mix Modeling Process
    • Offline word of mouth collected through self-reported data
    • Online/social media tracked directly with digital measurement tools
      • Facebook Sharing tool (API data)
      • Twitter Sharing tool (API data)
      • Blogger tracking image (Server data)
      • Nielsen BuzzMetrics brand monitoring tool
    BzzAgent campaigns can be measured through 3 rd party Marketing Mix Models Data is aggregated and sent to brand’s MMM partner for analysis
  • Building Brand Equity Over the Long Term
    • Addresses the immediate need
    • Demonstrates short-term business results
    • Benefits are far reaching
    Empowering advocates delivers longer term value through brand equity and loyalty Exploring innovate ways to measure these longer term benefits
    • Pioneered field of advocacy marketing
    • Powered by 750,000 volunteer consumers
    • Core technology maximizes influence & scale
    • Specializing in Fortune 500 brands
    • FTC Compliance Team
    • Strong analytic capability
    BzzAgent is a social marketing company that accelerates word of mouth to drive sales
  • Select 2009-2010 Clients CPG FOOD/BEV OTHER
  • Submit Your Questions
    • Additional Resources:
    • about.bzzagent.com
    • @bzzagent
    Thank You Malcolm Faulds [email_address] Steve McLaughlin [email_address] Brian Cavoli [email_address]