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

Name: C. Edward BriceAge: Over 40Use 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 HillsGeorge The Medieval Blacksmith

FRICTION

InternetFRICTIONLESS

Social Media is Frictionless Conversation in a Connected Environment

Conversation Desired Traits:HonestyOpennessEngagingInterestingRelevantListening

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 QuarterlyFUTURELAB

Future of Media: Digital & Universally AccessibleGlobalMobileTV / OfflineThe CloudAnytime - Any Place - Any Tools- Millions of ChannelsFUTURELAB

14,463,346 auctions200,000,000 blogswww.ebay.com 21 Nov 2006Almost 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 profilesFUTURELAB

(cc) Lynette Webb, 2006FUTURELAB

Monitoring & Measuring Social Media-Agent Wildfire 2009

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

MY FRIENDS – THEIR FRIENDS – and ALL THOSE WE COLLECTIVELY RESPECTTHERE IS STILL ONE TRUSTED MEDIUMLEFT IN THE WORLDFUTURELAB

B2B Purchase InfluencesSource Enquiro Inc 2008

Harvard Business ReviewWhen forming an opinion of a company, how credible would the information be from …7% increase in word of mouth unlocks 1% additional company growth2% 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

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

RADIO, TV, PRINT, EVENTS, ARE NICE, YET IN MY REALITYMY ECOSYSTEM IS THE BRANDThe words they write, speak, filmThe Stories They TellConsumersare 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&GFUTURELAB

“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 BIGBANGSocial MediaTraditionalROI

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

MediaSocial Objectives:ReachAwarenessCoverageContinuity Measures: # of visitors # of page views Time on site ConversionsLeads/Subscriptions/SponsorshipsObjectives:LoyaltyAdvocacyTrustInfluenceEngagementMeasures: Sentiment Comments Feedback Mentions ReadershipBusiness ValueIncrease In RevenueDecrease In Costs

Reach

Awareness

Coverage

Continuity

# of visitors

# of page views

Time on site

Conversions

Leads/Subscriptions/Sponsorships

Loyalty

Advocacy

Trust

Influence

Engagement

Sentiment

Comments

Feedback

Mentions

Readership

Monitoring & Measuring Social Media-Agent Wildfire 2009

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

Social Media is ConversationalConversations are NOT About ROI

Conversations are About VALUE

Ed’s Social Media Value GoalsAwarenessEngagementListeningInnovationBrandSEOThought LeadershipAdvocacyInfluenceEvangelismSentimentServiceInsightIdeationFeedbackCollaboration

Ed’s Social Media Value GoalsInnovationListeningValue CreatedEngagementAwarenessTime

Ed’s Social Media Value GoalsAwarenessEngagementListeningInnovationBrandSEOThought LeadershipAdvocacyInfluenceEvangelismSentimentServiceInsightIdeationFeedbackCollaborationEvangelismSuccess KPIsPage views Replies Suggestions Comments Inbound Links ComplaintsFriends Press mentions TrafficFollowers Referrals Embedded contentRegistrations Posts Syndication

Awareness2009 Social Media ROI-Egg Co.

EngagementGoals: Share information about company & products Start a dialogue between company and customers KPI : # of customer commentsResults: 100 people commenting on the blog each month Equivalent to gaining customer insight from a focus groupForrester 2009Value: Equivalent to running a focus group every month at the cost of $15,000 a month, or $180,000 a year.

Share information about company & products

Start a dialogue between

# of customer comments

100 people commenting on

Equivalent to gaining

Innovation2009 Social Media ROI-Egg Co.

Our Story

Lumension’s HistoryAcquired: July ‘07Acquired: Feb ‘07Acquired: April ‘09Founded in 1991Established: Sept ‘07Market-leading patch managementFirst cross-platform and application patch management solutionEnterprise-class vulnerability managementFirst credentialed based vulnerability scannerMarket-leading device and application controlFirst to introduce whitelisting / patented file “shadowing” technologyCompliance and Risk Management.Delivering predefined compliance and control frameworks

TwitterYouTubeCommunityiTunesBlogFacebook

Our Social Value Matrix

Lumension’s Optimal Security BlogObjectives: Improve SEOGarner more press coverageDrive thought leadershipLaunched Q4 ‘08

Improve SEO

Garner more press coverage

Drive thought leadership

Launched Q4 ‘08

Direct Blog Impact on Press

Lumension YouTube ChannelObjectives: Increase awarenessImprove SEODrive thought leadershipSyndicate our rich mediaPosition thought leaders

Increase awareness

Improve SEO

Drive thought leadership

Syndicate our rich media

Position thought leaders

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

Launched June 2008

Video Views - 16,132

Branded Channel Views - 5,840

Subscribers - 46

Favorites Lists - 8

Syndicated – over 60

Lumension Connect Customer CommunityObjectives: Garner more insight from customersConnectCollaborate Share best practicesCo-innovate

Garner more insight from customers

Connect

Collaborate

Share best practices

Co-innovate

CommunityLaunched July 30th (select invitations)Visitor Commitment8.57 pages avg. per visit11.24% of visitors viewed more than 20 pages8:50 avg. time on site24.5% bounce rate~8 visits per dayContent Garden

Launched July 30th (select invitations)

Visitor Commitment

Launched:Q3 08Following: 1100Followers:803

Twitter ReachTotal Impression opportunity: 2250MValue/impression:$.10Value:$225,000Cost to Lumension: $0

Listening: The Good

Integrated Syndicated ApproachPR WebBlogAgencyHot TopicsTwitter

Key Lessons Learned

Decide if You Want To Have a Conversation

Understand Your PersonasLISA AUDIT MANAGERBIG REGULATED, INC.JACK DIR/MNGR INFO SECBig REGULATED, INC.CHUCKCISO/VP INFO SECBIG REGULATED, INC.Reads industry blogsMember of online professional communitySocially FacebooksActive BloggerActive TwittererMember of online professional community Engaged in online forumsSocially FacebooksReads industry publications & business pressAttends industry eventsFacebooks 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

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