Social Learning And The Recession Five Survival Tips
More Bang for Your Marketing Buck
1. Presented by Rusty Williams Social Media: More Bang for Your Marketing Buck www.mzinga.com l February 2009
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3. But first a word from our Viewers…. “ Tweetbowl” Results: Hulu: 1944 Pepsi: 3028 Budweiser: 2865 GoDaddy: 2376 Coke: 2237 Doritos: 2182 GI Joe: 1852 Source: Socialmedia.com Advertising is the beginning of a conversation
4. Let’s take a step back… This is about Marketing and Bang for Your Buck
5. What do marketers really care about? Brand building Communication Cost per Lead Customer acquisition & loyalty Target Audience Market reach Conversion rates Demand Generation Public relations Market research
9. It’s Word of Mouth marketing on steroids… (for a better return)
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11. But how do you measure the value & investment?
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13. 25% of US online adults visit the social media site of a favorite brand. 52% report being positively influenced by the consumer-generated content—and will pass that on. In fact, they are 2X as active influencing the community at large via MySpace, Facebook, etc. According to Forrester Research, social media helps build brand loyalty & trust Source: “Recession Marketing,” Forrester Research, 2008.
14. 89% of Best-in-Class companies improved customer satisfaction through the use of externally facing Web 2.0 applications… 63% improved product planning.
15. 2006, Forrester More efficient market research More cost-effective customer support 98% lower avg. cost per interaction via self-service methods Traditional Focus Group Online Research Community Significantly Lower Costs $8,000 to $15,000 per individual focus group Cost is ≤ 3 traditional focus groups (supporting many more research events) Increased Productivity to hold 12 focus groups in 6 cities 2 weeks to hold 12 online research community activities with no travel required Contact Center Self-Service Support (i.e. Online Community) Customer support Cost Per Interaction $12.00 $.25
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