ROI of B2B Social Media

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Eric Schwartzman (http://ericschwartzman.com) delivers a session on the ROI of B2B Social Media at the PRSA International Conference in Orlando on Oct. 17, 2011

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ROI of B2B Social Media

  1. 1. ROI  of  B2B  Social  Media   Eric  Schwartzman,  coauthor     “Social  Marke6ng  to  the  Business  Customer”  #PRSAIcom   @ericschwartzman  
  2. 2. What’s  the  ROI?  #PRSAIcom   @ericschwartzman  
  3. 3. Intangible  Assets  Have  Real  Value  #PRSAIcom   @ericschwartzman  
  4. 4. Expenses  vs.  Assets  #PRSAIcom   @ericschwartzman  
  5. 5. 2  Types  of  Return…   5   On  Air   On  Demand   Print   Digital   Digital  Breadcrumbs:   Discoverable  and   Shareable   Phone   Social  Networks   #PRSAIcom   @ericschwartzman  
  6. 6. Archived  OrganizaPonal  Intelligence  is  an  Asset   Video    Webcast   &  YouTube   PowerPoint     SlideShare   Text  Transcript     Blog  Post   MP3    Podcast   Your  Expert  Answering   Ques6ons,  Selling  or   Improving  the   Customer  Experience   #PRSAIcom   @ericschwartzman  
  7. 7. Intangibles  of  Velocity  and  ProducPvity  #PRSAIcom   Case  Study:  hOp://ontherecordpodcast.com/chaOer     @ericschwartzman  
  8. 8. 8  ROI  of  Social  Business   •  73  blogs   •  17  bloggers   •  600%  jump  in  leads   •  Top  quality   #PRSAIcom   Case  Study:  hOp://ontherecordpodcast.com/emerson     @ericschwartzman  
  9. 9. Not  Only  Do  Blogs  Work  Best  in  B2B…  #PRSAIcom   2011  State  of  Inbound  Marke6ng  Study   @ericschwartzman  
  10. 10. Blogs  are  also  Least  Expensive  #PRSAIcom   2011  State  of  Inbound  Marke6ng  Study   @ericschwartzman  
  11. 11. 11  Stay  Behind  the  Line!  #PRSAIcom   @ericschwartzman  
  12. 12. 12  Public  vs.  Private  #PRSAIcom   Resource:  www.SocialMediaPolicyTemplate.com     @ericschwartzman  
  13. 13. Control  Conversions,  not  the  Message   The  first  step  was  to  add   blogs  and  message  boards  in   the  hope  that  irate   customers  will  talk  to  the   company  rather  than  gripe   to  the  whole  Internet.  "If  we   dont  do  that  at  Dell.com,   its  going  to  be  on  CNET  or   somewhere,"  Michael  Dell   says.  "Id  rather  have  that   conversa6on  in  my  living   room  than  in  somebody   elses."    #PRSAIcom   hVp://money.cnn.com/2008/09/03/technology/forV_dell.fortune/     @ericschwartzman  
  14. 14. Page  14  #PRSAIcom   @ericschwartzman  
  15. 15. 7    Steps  to  Social  Media  ROI     Page  15   1.  Define  the  “R”  –  What  are  expected  results?   2.  Define  the  “I”    -­‐-­‐  What’s  the  investment?   3.  Understand  audiences  and  what  mo6vates  them     4.  Choose  metrics   5.  Choose  benchmarks     6.  Pick  a  tool  and  undertake  research   7.  Analyze  results,  glean  insight,  take  ac6on,  measure   again   Source: KD Paine & Partners#PRSAIcom   @ericschwartzman  
  16. 16. ROI  EquaPon   Page  16   (GAIN  -­‐  COST)   ROI  =     X  100   COST  #PRSAIcom   @ericschwartzman  
  17. 17. Sefng  Goals  #PRSAIcom   @ericschwartzman  
  18. 18. #PRSAIcom   @ericschwartzman  
  19. 19. $477  Per  Day        $14,310  per  month   $257   $106   $35   $35   $5   $10   $5   $5  #PRSAIcom   @ericschwartzman  
  20. 20. ROI  of  Organic  Search  Traffic   (GAIN  -­‐  COST)   ROI  =     X  100   COST   ($7,710  -­‐  $3,000)   157%        =     $3000  #PRSAIcom   @ericschwartzman  
  21. 21. $477  Per  Day        $14,310  per  month   ROI  of  Social  Media   $1694   $499   $208   $410   $326   $87  #PRSAIcom   @ericschwartzman  
  22. 22. Sefng  Funnels  #PRSAIcom   @ericschwartzman  
  23. 23. Funnel  VisualizaPon  #PRSAIcom   @ericschwartzman  
  24. 24. Intangible  B2B  Measure  to  Monitor   #PRSAIcom   @ericschwartzman  
  25. 25. MulPvariate  Website  TesPng  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  26. 26. BuVon  VariaPons  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  27. 27. Media  VariaPons   photos   videos  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  28. 28. Sign  Up  Rates  by  Variant   4  buOons  and  6  media  op6ons  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  29. 29. Sign  Up  Rates  by  CombinaPon   4  buOons  x  6  media  op6ons  =  24  combina6ons  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  30. 30. Winning  Combo  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  31. 31. ROI  of  MulPvariate  Test   Original  Sign-­‐Up  Rate    8.26%   Winner  Sign-­‐Up  Rate    11.6%   Increase  from  Test      40.6%  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  32. 32. ROI  of  MulPvariate  Test   Campaign  Sign-­‐Ups    10,000,000   Improvement  of…          2,880,000  #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  33. 33. ROI  of  MulPvariate  Test   2,880,000  addi6onal  email  addresses  collected   10%  volunteered      288,000  more  volunteers   Dona6on  per  visitor    $60   Addi6onal  dona6ons      $60  x  2,880,000  =  $60,000    #PRSAIcom   Source:  hOp://blog.op6mizely.com/how-­‐obama-­‐raised-­‐60-­‐million-­‐by-­‐running-­‐an-­‐exp     @ericschwartzman  
  34. 34. Page  34  #PRSAIcom   @ericschwartzman  
  35. 35. Beyond  Last  Click  AVribuPon  #PRSAIcom   @ericschwartzman  
  36. 36. What’s  Next?    ROI  through  Social  Media  AnalyPcs  Cairo  Speech   “Obama”  Peak   “Freedom”  Peak   #PRSAIcom   hOp://www.radian6.com/     @ericschwartzman  
  37. 37. But  It’s  Also  About  Lead  Nurturing  #PRSAIcom   @ericschwartzman  
  38. 38. Gefng  Started  with  B2B  Social  MarkePng   AcPvity   Tool   •  Social  Media  Monitoring   Phase  1   •  Social  Media  Mapping   •  Social  Media  Par6cipa6on   Phase  2   •  Social  Media  Engagement     •  Social  Media  Management   Phase  3   •  Social  Media  Marke6ng   •  Measure  and  Evaluate  the  Results   Phase  4   38   #PRSAIcom   @ericschwartzman  
  39. 39. Thank  You   www.EricSchwartzman.com   (310)  455-­‐4000   @ericschwartzman   www.B2BSocialMediaBook.com  #PRSAIcom   @ericschwartzman  
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