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The Greatest Question Since the Meaning of Life: What is the ROI of Social Media

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Prior to the Web, companies controlled the engagement with their prospects and customers through information. With the advent of the Social Web and introduction of social media, we are no longer in …

Prior to the Web, companies controlled the engagement with their prospects and customers through information. With the advent of the Social Web and introduction of social media, we are no longer in control of the selling process or influencing the buyer. The people are in control. Today, companies must recognize the paradigm shift in the public relations and marketing landscape as Web 2.0 has fundamentally changed the way we connect, communicate and influence our customers, partners, press, analysts, and other industry influencers. In this presentation titled: The Greatest Question Since the Meaning of Life – What is ROI of Social Media?, C. Edward Brice, SVP of Worldwide Marketing for Lumension, will provide real world insight into the following:
• The evolving marketing and PR landscape
• Why marketing MUST use social media
• Lumension’s story
• Key learnings
• Dos and Don’ts

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  • When we start looking at value creation versus just hard ROI we can begin to see a different context and in my view relationship start to emerge
  • When we start looking at value creation versus just hard ROI we can begin to see a different context and in my view relationship start to emerge
  • When we start looking at value creation versus just hard ROI we can begin to see a different context and in my view relationship start to emerge

Transcript

  • 1. The Greatest Question Since the Meaning of Life: What is the ROI of Social Media?
  • 2. Name: C. Edward Brice
    Age: Over 40
    Use Social Media: Yes
  • 3. I am NOT a
    Social Media Expert
  • 4. Social Media
  • 5.
  • 6. Or Has Social Media Jumped the Shark?
    Ashton Kutcher posts shot of Demi on Twitter
  • 7. What is Social Media?
  • 8. “Social media is like teen sex. Everyone wants to do it. Nobody knows how. When it’s finally done there is a surprise that it’s not better.”
    - AvonashKaushik – Analytics Evangelist, Google
  • 9. Social Media
  • 10. Social Media is as Old as The Hills
    George The Medieval Blacksmith
  • 11. FRICTION
  • 12. Internet
    FRICTIONLESS
  • 13. Social Media is Frictionless Conversation in a Connected Environment
  • 14. Conversation Desired Traits:
    Honesty
    Openness
    Engaging
    Interesting
    Relevant
    Listening
  • 15. Why Marketers MUSTUtilize Social Media
  • 16. The traditional marketing model is being challenged, and (CMOs) can foresee a day when it will no longer work.-McKinsey Quarterly
    FUTURELAB
  • 17. Future of Media: Digital & Universally Accessible
    Global
    Mobile
    TV / Offline
    The Cloud
    Anytime - Any Place - Any Tools- Millions of Channels
    FUTURELAB
  • 18. 14,463,346 auctions
    200,000,000 blogs
    www.ebay.com 21 Nov 2006
    Almost 4,000,000 articles
    (10 languages)
    >100,000,000 videos
    (65,000/day)
    1.5 million residents
    “The workers should appropriate the means of production”
    33,347,000 profiles
    FUTURELAB
  • 19. (cc) Lynette Webb, 2006
    FUTURELAB
  • 20. Monitoring & Measuring Social Media-Agent Wildfire 2009
  • 21. 76%
    ...of consumers don’t believe that companies tell the truth in advertisements -Yankelowich
    FUTURELAB
  • 22. MY FRIENDS – THEIR FRIENDS – and ALL THOSE WE COLLECTIVELY RESPECT
    THERE IS STILL ONE TRUSTED MEDIUM
    LEFT IN THE WORLD
    FUTURELAB
  • 23. B2B Purchase Influences
    Source Enquiro Inc 2008
  • 24. Harvard Business Review
    When forming an opinion of a company, how credible would the information be from …
    • 7% increase in word of mouth unlocks 1% additional company growth
    • 25. 2% reduction in negative word of mouth boosts sales growth by 1%
    • 26. For the average company,1% increase in word of mouth advocacy equated to $16M extra sales
    A person like yourself or a peer
  • 27. RADIO, TV, PRINT, EVENTS, ARE NICE, YET IN MY REALITY
    MY ECOSYSTEM IS THE BRAND
    The words they write, speak, film
    The Stories They Tell
    Consumersare beginning in a very real sense to ownour brands and participate in theircreation… Weneed to begin to learn to let go.
    - A.G. Lafley, CEO and Chairman of P&G
    FUTURELAB
  • 28. “Businesses that don't implement Web 2.0 tools will stay behind”
    DarkoHerlick, Gartner VP and CIO
  • 29. “There is only one thing in the world worse than being talked about, and that is not being talked about.”..Oscar Wilde
  • 30. ROI of Social Media
  • 31. THE BIG
    BANG
    Social
    Media
    Traditional
    ROI
  • 32. “What do you want to measure –
    the “social” or the “media”?
    - David Alston of Radian6
  • 33. Media
    Social
    Objectives:
    Measures:
    • # of visitors
    • 37. # of page views
    • 38. Time on site
    • 39. Conversions
    • 40. Leads/Subscriptions/Sponsorships
    Objectives:
    Measures:
    Business Value
    Increase In Revenue
    Decrease In Costs
  • 49. Monitoring & Measuring Social Media-Agent Wildfire 2009
  • 50. Warning, Warning.
    Sales & Leads are Nice
    But They Are NOT The Objectives
  • 51. Social Media is Conversational
    Conversations are NOT About ROI
  • 52. Conversations are About VALUE
  • 53. Ed’s Social Media Value Goals
    Awareness
    Engagement
    Listening
    Innovation
    Brand
    SEO
    Thought Leadership
    Advocacy
    Influence
    Evangelism
    Sentiment
    Service
    Insight
    Ideation
    Feedback
    Collaboration
  • 54. Ed’s Social Media Value Goals
    Innovation
    Listening
    Value Created
    Engagement
    Awareness
    Time
  • 55. Ed’s Social Media Value Goals
    Awareness
    Engagement
    Listening
    Innovation
    Brand
    SEO
    Thought Leadership
    Advocacy
    Influence
    Evangelism
    Sentiment
    Service
    Insight
    Ideation
    Feedback
    Collaboration
    Evangelism
    Success KPIs
    Page views Replies Suggestions
    Comments Inbound Links Complaints
    Friends Press mentions Traffic
    Followers Referrals Embedded content
    Registrations Posts Syndication
  • 56. Awareness
    2009 Social Media ROI-Egg Co.
  • 57. Engagement
    Goals:
    • Share information about company & products
    • 58. Start a dialogue between
    company and customers
    KPI :
    • # of customer comments
    Results:
    • 100 people commenting on
    the blog each month
    • Equivalent to gaining
    customer insight from a focus
    group
    Forrester 2009
    Value: Equivalent to running a focus group every month at the cost of $15,000 a month, or $180,000 a year.
  • 59. Innovation
    2009 Social Media ROI-Egg Co.
  • 60. Our Story
  • 61. Lumension’s History
    Acquired: July ‘07
    Acquired: Feb ‘07
    Acquired: April ‘09
    Founded in 1991
    Established: Sept ‘07
    Market-leading patch management
    First cross-platform and application patch management solution
    Enterprise-class vulnerability management
    First credentialed based vulnerability scanner
    Market-leading device and application control
    First to introduce whitelisting / patented file “shadowing” technology
    Compliance and Risk Management.
    Delivering predefined compliance and control frameworks
  • 62.
  • 63. Twitter
    YouTube
    Community
    iTunes
    Blog
    Facebook
  • 64. Our Social Value Matrix
  • 65. Lumension’s Optimal Security Blog
    Objectives:
    • Improve SEO
    • 66. Garner more press coverage
    • 67. Drive thought leadership
    • 68. Launched Q4 ‘08
  • Direct Blog Impact on Press
  • 69. Lumension YouTube Channel
    Objectives:
    • Increase awareness
    • 70. Improve SEO
    • 71. Drive thought leadership
    • 72. Syndicate our rich media
    • 73. Position thought leaders
  • Lumension YouTube Channel
    • Launched June 2008
    • 74. Video Views - 16,132
    • 75. Branded Channel Views - 5,840
    • 76. Subscribers - 46
    • 77. Favorites Lists - 8
    • 78. Syndicated – over 60
  • 79. Lumension Connect Customer Community
    Objectives:
    • Garner more insight from customers
    • 80. Connect
    • 81. Collaborate
    • 82. Share best practices
    • 83. Co-innovate
  • Community
    • Launched July 30th (select invitations)
    • 84. Visitor Commitment
    8.57 pages avg. per visit
    11.24% of visitors viewed more than 20 pages
    8:50 avg. time on site
    24.5% bounce rate
    ~8 visits per day
    Content Garden
  • 85. Launched:Q3 08
    Following: 1100
    Followers:803
  • 86. Twitter Reach
    Total Impression opportunity: 2250M
    Value/impression:$.10
    Value:$225,000
    Cost to Lumension: $0
  • 87. Listening: The Good
  • 88. Integrated Syndicated Approach
    PR Web
    Blog
    Agency
    Hot Topics
    Twitter
  • 89. Key Lessons Learned
  • 90. Decide if You Want To Have a Conversation
  • 91. Understand Your Personas
    LISA
    AUDIT MANAGER
    BIG REGULATED, INC.
    JACK
    DIR/MNGR INFO SEC
    Big REGULATED, INC.
    CHUCK
    CISO/VP INFO SEC
    BIG REGULATED, INC.
    Reads industry blogs
    Member of online professional community
    Socially Facebooks
    Active Blogger
    Active Twitterer
    Member of online professional community Engaged in online forums
    Socially Facebooks
    Reads industry publications & business press
    Attends industry events
    Facebooks to keep in touch with Grandchildren
  • 92. Content is King
  • 93. Think Like a Publisher
  • 94. Don’t Forget about Your Website
  • 95. Social Media Doesn’t Scale…
    It’s a Commitment
  • 96. Thank You
    Blog: marketinggimbal.com
    Follow: http://twitter.com/cedwardbrice
    Connect: linkedin.com/in/cedwardbrice
    Bookmark: delicious.com/cedwardbrice
    Friends: facebook.com/cedwardbrice