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ROI of Social Media – how to measure the right things to drive your marketing strategies

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SoCon11 break-out session with Guy Powell of DemandROMI.

SoCon11 break-out session with Guy Powell of DemandROMI.

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  • 1. Social Marketing Strategy and ROI
    ROI of Social Media – how to measure the right things to drive your integrated traditional and social media marketing strategies
    1
  • 2. How does your marketing strategy differ from your social marketing strategy?
    2
  • 3. Social media and marketing
    3
    Social media
    Customer support
    Marketing engagement
    stakeholders
  • 4. Consumer decision model: Putting it all together
    Jkl;jkl;
    4
    Purchase funnel
    Relevance
    Market utility
    Price
    Probability of choosing an item
  • 5. Case study: “Will it blend?”
    > 9M downloads on YouTube
    Incremental revenue – 500% increase in sales on initial $50USD investment
    Question:
    Who are the influencers?
    Source: http://www.youtube.com/blendtec#p/a/082908F9B9B1533E/0/qg1ckCkm8YI
    5
  • 6. Who connects to whom?
    6
    Distribution partners
    Competitors
    Partners
    Other stakeholders
  • 7. Media Engagement Framework
    7
    Segmentation
    / Personas
    Consumers
    Individuals
    Influencers
    Awareness
    Awareness
    Reputation
    Competitive
    Set
    Consideration
    Brands
    Time
    Endorsement Share
    Brand Image
    Community Engagement
    Funnel
    Consumer Purchase
    Funnel
    Influencer Endorsement
    Funnel
    Reach
    Frequency
    Quality
    Purchase
    Measurement
    Framework
    Purchase intent
    Subscription
    Conversation
    Consumption
    Follow Count
    / Profile
    Content
    Timing
    Loyalty
    Invitation
  • 8. Advocacy v. influence
    How does advocacy differ from influence?
    8
    Positive or negative
    Persuasive value
  • 9. Social Media Tenets
    Social media is the new primary component of corporate communications with all stakeholders and is an equal with traditional, PR and other media channels. It is one of many media channels that needs to be fully integrated into the media mix
    Social media has two key components outbound marketing messagingand inbound customer service engagement.
    Engagement must take place with the right individual in the company at the right time in order to provide its full benefit.
    Social media is made up of many individual channels that must be treated as an integrated, bidirectional communications channel.
    9
  • 10. Social media is opt-in, destination oriented
    Interruptive
    Traditional media
    Generally, not opt-in:
    TV
    Billboards (OOH)
    Destination media
    Search (for specific product/service solution)
    Search terms are actively sought
    Social
    Membership and viewing of a community or SM post is opt-in
    Reviews are actively searched for
    10
  • 11. Influencer stratification
    Consumer related: Those speaking primarily to consumers, brand agnostic – e.g., ClarkHoward.com
    Category related: Grow and justify the category – important for new innovation – e.g., Forrester analyst
    Brand related: (own and competitive) – Ashton Kutcher’s Nikon Coolpix
    Channel related: Drive volume in a particular class of trade - Elevenmoms
    External factors: Affect the category volume - Bill O’reilly and French wine boycott
    11
  • 12. 12
    Questions?
    Thank you
    Guy R. Powell – gpowell@DemandROMI.com
    Community: ROIofSocialMedia.com
    Facebook: www.Facebook.com/ROIofSocialMedia
    Twitter: @ROISocialMedia #ROISM
    DemandROMI
    Prove and improve your marketing effectiveness
    +1 404-816-4344
    www.DemandROMI.com

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