Econsultancy Social Media Monetisation Case Study 1212418744419594 8
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This is why we focus on Search and Social for better results

This is why we focus on Search and Social for better results

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Econsultancy Social Media Monetisation Case Study 1212418744419594 8 Presentation Transcript

  • 1. Monetising Social MediaA case study in measuring the value of social media marketing onlineAshley FriedleinCEOE-consultancy.com
  • 2. “The future of the social web”
    “Harnessing Social Media for B2B and B2C marketing campaigns”
    “How UK Government approaches
    the web and social media”
    “The impact and ROI of social retail”
    “Social and Professional Networking how marketers and users navigate in the Web 2.0 world”
    2
  • 3. What is ‘Social Media’?
    Blogs
    Discussion Boards & Communities
    Product review sites
    Media-sharing
    Social Networking
    Bookmarking / tagging
    ‘Social commerce’, ‘social news’ etc….
  • 4. “Internet-based
    tools and venues where anyone can communicate publicly”
    4
  • 5. 5
  • 6. Universal McCann Social Media Study
    6
  • 7. Great for PR
    BUT…
    7
  • 8. Q:How did the YouTube clip help generate pledges?
    A: “…it's not a top referring site … in terms of pledges and uptake of products, we're not seeing that come through.”
    Rob Merrington, Head of Brand Advertising, EDF Energy
    Q: Has Second Life worked for you?
    A: “It’s a lot more hype than reality.”
    Chris Shimojima, VP, Nike.om
    8
  • 9. 9
  • 10. Jerry Maguire, 1996
    10
  • 11. 11
  • 12. How do we make money?
    Advertising
    Average £20 per thousand page views / 2 ads per page / 3 pages views per visit
    Average advertising value per visit = 12p
    Commerce (Subscriptions, Memberships, Events, Training etc.)
    Conversion rate = 0.25%
    Average order value = £200
    Average commerce value per visit = 50p
  • 13. Average Total
    Value / Visit
    =
    62p
    13
  • 14. (but some visits are more valuable than others)
    14
  • 15. Direct Traffic
    Indirect Traffic
    (aka Google)
    15
  • 16. Top Referring Domains
    16
  • 17. 7,000 visits a day from Google
    = £4,340 a day…
    17
  • 18. 18
  • 19. How many more direct visits can we get?
    Can we get more Google love?
    from ‘social media marketing’
    19
  • 20. Question 1
    Should we engage with sites that deliver VOLUME (REACH) or INFLUENCE?
    20
  • 21. Answer 1
    Both…
    VOLUME = VOLUME
    INFLUENCE = SEO = VOLUME
    21
  • 22. Question 2
    So which sites would deliver volume (and the right prospective customers)
    And which (SEO) influence?
    22
  • 23. Answer 2
    INFLUENCE
    VOLUME / REACH
    23
  • 24. Lots of sites…
    24
  • 25. Prioritised + How to approach
    25
  • 26. Go engage!
    26
  • 27. Links via
    Online PR
    27
  • 28. BBC Internet Blog
    28
  • 29. Multilingual Search Community
    29
  • 30. BazaarVoice Blog
    30
  • 31. Internetworldstats.com
    31
  • 32. Facebook
    32
  • 33. Links via
    Answering
    Questions
    33
  • 34. Yahoo! Answers
    34
  • 35. LinkedIn Answers
    35
  • 36. WikiAnswers
    36
  • 37. Wikipedia
    37
  • 38. Links via
    Profiles / ‘Channels’
    38
  • 39. YouTube Channel
    39
  • 40. Twitter Channel
    40
  • 41. Slideshare Channel
    41
  • 42. 42
  • 43. Dailymotion
    43
  • 44. Veoh
    44
  • 45. Links via
    Bookmarking / Tagging
    45
  • 46. Digg
    46
  • 47. Del.icio.us
    47
  • 48. Was it
    worth
    it?
    48
  • 49. Scores on the doors…
    49
  • 50. Cost
    Search Agency
    £3,000
    Data / Tools
    Free (-ish)
    Internal Time
    5 days worth of time
    Call it £10,000
  • 51. Referred visits in last 6 weeks
    Stumbleupon
    1,369
    LinkedIn
    669
    Wikepedia
    547
    Del.icio.us
    276
    Twitter
    106
  • 52. Views = 1,746
    5
    No. referred visits =
  • 53. No. referred visits = 77
  • 54. Total no. ‘social media’ referred visits =
    18,000
    54
  • 55. Value =
    18,000 X 62p =
    £11.16k…
    55
  • 56. 56
  • 57. SEO impact?
    57
  • 58. Google Natural Search Referrals
    58
  • 59. Total no. incremental visits for SEO improvement =
    72,000
    59
  • 60. Value =
    72,000 X 62p =
    £44.64k…
    60
  • 61. 61
  • 62. ROI =
    (£11.16K + £44.64k) / £10k =558%
    62
  • 63. BUT…
    (there’s always a but)
    63
  • 64. How many of these links came from this campaign?
    64
  • 65. Do we really know the Google improvements came about from this campaign?
    65
  • 66. (but some visits are more valuable than others)
    less
    66
  • 67. We assumed
    Average commerce value per visit = 50p
    67
  • 68. So how much did we actually sell?
    68
  • 69. £112k sold online in the period
    69
  • 70. ‘Social media’ referred sales…
    £2.4k
    (2.1% of sales)
    70
  • 71. And EVERY SINGLE ONE of those...
    ALSO searched Google on us before buying
    71
  • 72. Other Benefits
    Built PR contacts db
    Found high-performing new affiliates
    Found new partners (e.g. for contras, co-registration etc.)
  • 73. Other Benefits
    Built influence / credibility
  • 74. Conclusion
    Worth it but
    Quite a bit of work
    Value in tangential areas
    Good-ish for traffic; less good for sales
    Indirect traffic via search bigger than direct traffic (and higher value)
    But mostly…
  • 75. 75
  • 76. Questions?E-consultancy Resources:
    Online Measurement and Strategy Report 2008 (with Lynchpin)
    http://www.e-consultancy.com/publications/online-measurement-and-strategy-report-2008/
    Web Analytics Buyer’s Guide
    http://www.e-consultancy.com/publications/web-analytics-buyers-guide-2007/
    Web Analytics Request for Proposal Template
    http://www.e-consultancy.com/publications/web-analytics-rfp-request-for-proposal/
    Web Analytics Business Case
    http://www.e-consultancy.com/publications/web-analytics-business-case
    Measurement, Analytics and Optimisation Briefing
    http://www.e-consultancy.com/publications/analytics-measurement-optimisation-briefing-march-2008/