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

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

Name: C. Edward Brice
Age: Over 40
Use Social Media: Yes

I am NOT a
Social Media Expert

Social Media

Or Has Social Media Jumped the Shark?
Ashton Kutcher posts shot of Demi on Twitter

What is Social Media?

“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

Social Media

Social Media is as Old as The Hills
George The Medieval Blacksmith

FRICTION

Internet
FRICTIONLESS

Social Media is Frictionless Conversation in a Connected Environment

Conversation Desired Traits:
Honesty
Openness
Engaging
Interesting
Relevant
Listening

Why Marketers MUSTUtilize Social Media

The traditional marketing model is being challenged, and (CMOs) can foresee a day when it will no longer work.-McKinsey Quarterly
FUTURELAB

Future of Media: Digital & Universally Accessible
Global
Mobile
TV / Offline
The Cloud
Anytime - Any Place - Any Tools- Millions of Channels
FUTURELAB

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

(cc) Lynette Webb, 2006
FUTURELAB

Monitoring & Measuring Social Media-Agent Wildfire 2009

76%
...of consumers don’t believe that companies tell the truth in advertisements -Yankelowich
FUTURELAB

MY FRIENDS – THEIR FRIENDS – and ALL THOSE WE COLLECTIVELY RESPECT
THERE IS STILL ONE TRUSTED MEDIUM
LEFT IN THE WORLD
FUTURELAB

B2B Purchase Influences
Source Enquiro Inc 2008

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
2% reduction in negative word of mouth boosts sales growth by 1%
For the average company,1% increase in word of mouth advocacy equated to $16M extra sales
A person like yourself or a peer

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

“Businesses that don't implement Web 2.0 tools will stay behind”
DarkoHerlick, Gartner VP and CIO

“There is only one thing in the world worse than being talked about, and that is not being talked about.”..Oscar Wilde

ROI of Social Media

THE BIG
BANG
Social
Media
Traditional
ROI

“What do you want to measure –
the “social” or the “media”?
- David Alston of Radian6

Media
Social
Objectives:
Reach
Awareness
Coverage
Continuity
Measures:
# of visitors
# of page views
Time on site
Conversions
Leads/Subscriptions/Sponsorships
Objectives:
Loyalty
Advocacy
Trust
Influence
Engagement
Measures:
Sentiment
Comments
Feedback
Mentions
Readership
Business Value
Increase In Revenue
Decrease In Costs

Monitoring & Measuring Social Media-Agent Wildfire 2009

Warning, Warning.
Sales & Leads are Nice
But They Are NOT The Objectives

Social Media is Conversational
Conversations are NOT About ROI

Conversations are About VALUE

Ed’s Social Media Value Goals
Awareness
Engagement
Listening
Innovation
Brand
SEO
Thought Leadership
Advocacy
Influence
Evangelism
Sentiment
Service
Insight
Ideation
Feedback
Collaboration

Innovation
Listening
Value Created
Engagement
Awareness
Time

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

Awareness
2009 Social Media ROI-Egg Co.

Engagement
Goals:
Share information about company & products
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.

Innovation
2009 Social Media ROI-Egg Co.

Our Story

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

Twitter
YouTube
Community
iTunes
Blog
Facebook

Our Social Value Matrix

Lumension’s Optimal Security Blog
Objectives:
Improve SEO
Garner more press coverage
Drive thought leadership
Launched Q4 ‘08

Direct Blog Impact on Press

Lumension YouTube Channel
Objectives:
Increase awareness
Improve SEO
Drive thought leadership
Syndicate our rich media
Position thought leaders

Lumension YouTube Channel
Launched June 2008
Video Views - 16,132
Branded Channel Views - 5,840
Subscribers - 46
Favorites Lists - 8
Syndicated – over 60

Lumension Connect Customer Community
Objectives:
Garner more insight from customers
Connect
Collaborate
Share best practices
Co-innovate

Community
Launched July 30th (select invitations)
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

Launched:Q3 08
Following: 1100
Followers:803

Twitter Reach
Total Impression opportunity: 2250M
Value/impression:$.10
Value:$225,000
Cost to Lumension: $0

Listening: The Good

Integrated Syndicated Approach
PR Web
Blog
Agency
Hot Topics
Twitter

Key Lessons Learned

Decide if You Want To Have a Conversation

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

Content is King

Think Like a Publisher

Don’t Forget about Your Website

Social Media Doesn’t Scale…
It’s a Commitment

Thank You
Blog: marketinggimbal.com
Follow: http://twitter.com/cedwardbrice
Connect: linkedin.com/in/cedwardbrice
Bookmark: delicious.com/cedwardbrice
Friends: facebook.com/cedwardbrice

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

by Lumension on Aug 21, 2009

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