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Move The Needle
 

Move The Needle

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Jason Falls's Move The Needle - Social Media and the Bottom Line Presentation for Social Fresh - 1/11/10.

Jason Falls's Move The Needle - Social Media and the Bottom Line Presentation for Social Fresh - 1/11/10.

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  • You Are A Social Media Marketer If you’re here, you are doing it or want to Blogging, Facebook, Twitter, Podcasts, etc. And if you’ve been reading up about social media you know
  • Social Media Is A World Of Happy Little Trees “ Participate in the conversation” “ It’s all about engagement!” “ Talk with us not to us.”
  • I’ve Got News For You Conversations don’t ring the cash register Engagement doesn’t sell more stuff Gather in a circle and love everyone if you want, but that doesn’t ….
  • Move The Needle Your company, boss, organization is a business Businesses success is judged on one thing. How much stuff you sell! Social media marketing has to move the needle or guess what?
  • You’ll be out of a job!
  • Eric Brown – Urbane Apartments Stopped traditional advertising in 2004. Switched to Paid Search. Started blogging in 2008. Turned blog over to residents and made it about the community around apartments, not the apartments. BUT TRACKED IT, MEASURED IT and proved it was working.
  • Recent conference call with a client of mine, his exact words were:
  • But What About The Purists? They’re wrong … or at least only half right. They won’t have jobs much longer Because they’re not …
  • They’ll be out of a job because they are not …
  • They’re not moving the needle. Remember --- This is a business.
  • Business.com report: Social Media Marketing Best Practices: Question and Answer Forums Engagement entries are interesting – Is this what the purists have been telling them, or do businesses really care about this? See the business (sales/leads) metrics and how they take up most of these answers.
  • Bazaarvoice – “CMOs Plan For Higher Social Media Measurability in 2010” By Sam Decker – CMO Bazaarvoice What’s the ROI of Social Media? “ DON’T KNOW!” Don’t know and “no” account for 45-60% of the answers in all except ratings and reviews.
  • Bazaarvoice – “CMOs Plan For Higher Social Media Measurability in 2010” By Sam Decker – CMO Bazaarvoice What’s the ROI of Social Media? “ DON’T KNOW!” Don’t know and “no” account for 45-60% of the answers in all except ratings and reviews.
  • So How Do We Move The Needle?
  • Couple of insights – Check your website’s first time visitors. Your audience might not be who you think they are.
  • Wiggly Wigglers regularly presents calls to action that lead to their ecommerce portal. Much higher return rates than catalogs and direct mail pieces.
  • Chris Penn … blogger example, but a good one to expand his community of readers and potential reach.
  • Chris Penn … blogger example, but a good one to expand his community of readers and potential reach.
  • Dell Outlet – NOW 6.5 MILLION IN SALES! WTF?
  • Naked Pizza interacts, but also sells. Has sustained a 20 percent sales level derived directly from Twitter.
  • Dollar General – Third quarter sales jumped 13 percent (Overall sales … many factors.)
  • Aeropostale – Third Quarter of 2009 – Overall sales up 18%
  • Remember The Merit To Soft Metrics Branding, Awareness, Impressions Traffic, Time on site, Comments, Interactions, ReTweets Friends, Followers Email subscribers, RSS subscribers
  • About Engagement Some think of it as giving (purists view and not wrong). But if you ask, “Did you get something from your audience that can make your business better?” and can answer yes, you can make a case even if you didn’t move the money needle
  • The philosophical approach preached by the purists is necessary to PROVE you are GENUINE and have the right INTENT.
  • But don’t just be a hippie … this is a business. Plan. Measure. Prove!
  • Strategic planning 101 Goals – Objectives – Strategies – Tactics Increase online sales – Drive $5,000 of online sales from Facebook calls to action by Dec. 31, 2010 Develop buy one-get one for a friend app to give Facebook fan base purchase and share opportunity Hire developer, solicit feedback from Fan base on purchase application, promote application, etc.
  • That’s how you move the needle.

Move The Needle Move The Needle Presentation Transcript

  • Move The Needle
    • Social Media For The Bottom Line
    • Social Fresh
    • January 11, 2010
    • Nashville, Tenn.
  • You Are One Image: Fonzales on Shutterstock.com
  • Happy Little Trees Image: onesoulrebel_photo on Photobucket.com
    • Conversations Don’t Ring The Cash Register
    • Engagement Alone Doesn’t Sell More Stuff
    • Hold Hands, Sing “Kumbaya” All You Want, It Doesn’t …
    Photo: Courtesy SXCH.hu
  • Image: Luminus on Shutterstock.com
  • Image: Luna Vandoorne on Shutterstock.com
    • Eric Brown Urbane Apartments
    • “ Did we rent more apartments?”
    “ Because if we didn’t, the practice of social media marketing is just a hobby .”
    • A recent conference call with a client talking about social media strategy
    The end game for me is, did we sell more stuff?
  • Image: Creatista on Shutterstock.com
  • Image: Luna Vandoorne on Shutterstock.com
  • Image: Luminus on Shutterstock.com
  •  
    • Bazaarvoice CMOs Group Survey
    • What’s The ROI of Social Media?
    • Survey across industries
    • 72% Didn’t attach revenue in 2009 but will in 2010
    • 81% plan to link annual revenues to social media
    • 85% predict a 5-15% impact on their bottom line this year
    • 64% will increase social media budgets
    • Fastest growing metrics tracked: REVENUE, CONVERSION, AVERAGE ORDER VALUE
  • Image: Luminus on Shutterstock.com
    • People still respond to advertising
    • “ People” aren’t social media purists
    • Your customers and fans know you need to make money
    • “ Remember - it’s not about selling, but helping people buy.” – Chris Heuer
    • Wiggly Wigglers
    • Christopher Penn
    • Indiana Spine Group
    • Corporate Blog
    • Direct Calls To Action As Part Of Site
    • Dell Outlet
    • Naked Pizza
    • Dollar General
    • Blatant Advertising
    • 31,000+ Fans
    • Three latest posts:
    • 93 Likes 48 Comments
    • Aeropostale
    • 372,000 Fans
    • Email Signup Prominent
    • Holiday Gift Guide: 84 Comments 413 Likes
  • Image: Michael Heiber on Shutterstock.com
  • Image: Courtesy SXCH.hu Did you give something to your audience that enhances their life or online experience? Did you get something from your audience that can make your business better?
    • Be Consumer-Centric
    • Participate
    • Provide Value
    • Build Relationships & Trust
    • Plan for success
    • Present clear calls to action
    • Offer opportunities at relevant times/locations
    • Know that value can also be your product or service
    • Establish Singular Goals
    • Set Measureable Objectives To Achieve Goals
    • Develop Targeted Strategies To Accomplish Objectives
    • Enumerate Tactics/Tasks To Deliver Strategies
  • Image: Luminus on Shutterstock.com
  • Let’s Connect Jason Falls Principal Social Media Explorer Email: [email_address] Twitter: @JasonFalls Phone: 502.509.4763 Web: socialmediaexplorer.com Newsletter: socialmediaexplorer.com/newsletter