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Webinar - How to Gain ROI From Social Engagement

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Everyone knows that trying to track down the ROI of social initiatives is difficult. Sure you can measure increasing numbers of “Fans” and “Tweets,” but ask 10 marketers what that is worth and you …

Everyone knows that trying to track down the ROI of social initiatives is difficult. Sure you can measure increasing numbers of “Fans” and “Tweets,” but ask 10 marketers what that is worth and you will likely get 10 different answers. Much like searching for a unicorn, many believe searching for true social ROI is impossible.

Join Adam Metz, VP of Business Development for The Social Concept, and Dave Hawley, Product Marketing for PowerReviews, for a 45 minute webinar where you will learn:

- How business can use social content and engagement to convert browsers into buyers.
- How leading retailers are leveraging PowerReviews suite of tools to link social activity directly to sales and traffic.
- 3 social commerce tips to turn social activity into sales and find that elusive unicorn that is social ROI.

Published in: Technology, Business

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  • What you ’ re looking at here is the four ways a company can engage with the social customer. In essence, this is a maturity model. It ’ s tough to not put a sort of value judgement on one of these models, but the truth is that most companies are somewhere in #2 or #3, at least in business-to-business. There are only a few companies that have achieved #4, Enterprise engagement. Let ’ s take a moment and walk through them, from least sophisticated, to most sophisticated.
  • If this looks a little familiar, it ’ s because I ’ ve partially adapted this triangle from Marketo ’ s revenue cycle, which was invented by their founder, Jon Miller. This is basically what everyone is trying to achieve when they engage with customers in social. All social software programs achieve ROI in this exact manner, by taking customers through these five stages. Let ’ s go through the stages, so you can understand EXACTLY how to get revenue from social.
  • So, here ’ s what you need to know. Social CRM is no longer a multi-million dollar business. It ’ s now a multi-billion dollar business. These two major acquisitions that have occurred in the last few weeks prove that.
  • In 1999, this kind of technology used to cost $2k per month. Today, you can do some form of social marketing automation for anywhere from $190-800 per month. So, in the last 13 years, the prices of this technology have gone down 90%. It sort of makes it so most companies only excuse not to do it is that they consciously do not want to engage with their customers.
  • Ever run into one of those consultants who happens to be a “ jack of all trades, master of none ” ? This is typically what I think when I see a company that ’ s trying to master all 23 use cases of social CRM. It ’ s generally a bad idea, because instead of achieving mastery on one of them, your company will generally end up doing really mediocre projects across all of them. And this picture, that ’ s Bruce Lee taking a swing at Kareem Abdul-Jabaar. Pick a use case, go big or go home.
  • So, when I ’ m thinking of social CRM, I ’ m thinking of the 23 ways that I ’ ve found companies typically use it. Ray Wang and Jeremiah Oywang, who used to work together at Altimeter Group, an analyst firm, a few years back, came up with the first 18 use cases of social CRM. I then added 5 more to it. If you ’ re focusing on making money from engagement, These are the use cases I ’ d pursue, and here ’ s what they are: 1. Use case #3 extremely rapid social response 2. 15 - This is when companies cultivate groups of current customers to sell to other customers (advocates) and track the advocates in their social CRM 3. 17 - This is when companies literally build products with the customers and partners 22 VIP Experience -
  • So, when I ’ m thinking of social CRM, I ’ m thinking of the 23 ways that I ’ ve found companies typically use it. Ray Wang and Jeremiah Oywang, who used to work together at Altimeter Group, an analyst firm, a few years back, came up with the first 18 use cases of social CRM. I then added 5 more to it. If you ’ re focusing on making money from engagement, These are the use cases I ’ d pursue, and here ’ s what they are: 1. Use case #3 extremely rapid social response 2. 15 - This is when companies cultivate groups of current customers to sell to other customers (advocates) and track the advocates in their social CRM 3. 17 - This is when companies literally build products with the customers and partners 22 VIP Experience -
  • So, when I ’ m thinking of social CRM, I ’ m thinking of the 23 ways that I ’ ve found companies typically use it. Ray Wang and Jeremiah Oywang, who used to work together at Altimeter Group, an analyst firm, a few years back, came up with the first 18 use cases of social CRM. I then added 5 more to it. If you ’ re focusing on making money from engagement, These are the use cases I ’ d pursue, and here ’ s what they are: 1. Use case #3 extremely rapid social response 2. 15 - This is when companies cultivate groups of current customers to sell to other customers (advocates) and track the advocates in their social CRM 3. 17 - This is when companies literally build products with the customers and partners 22 VIP Experience -
  • So, when I ’ m thinking of social CRM, I ’ m thinking of the 23 ways that I ’ ve found companies typically use it. Ray Wang and Jeremiah Oywang, who used to work together at Altimeter Group, an analyst firm, a few years back, came up with the first 18 use cases of social CRM. I then added 5 more to it. If you ’ re focusing on making money from engagement, These are the use cases I ’ d pursue, and here ’ s what they are: 1. Use case #3 extremely rapid social response 2. 15 - This is when companies cultivate groups of current customers to sell to other customers (advocates) and track the advocates in their social CRM 3. 17 - This is when companies literally build products with the customers and partners 22 VIP Experience -
  • So, when I ’ m thinking of social CRM, I ’ m thinking of the 23 ways that I ’ ve found companies typically use it. Ray Wang and Jeremiah Oywang, who used to work together at Altimeter Group, an analyst firm, a few years back, came up with the first 18 use cases of social CRM. I then added 5 more to it. If you ’ re focusing on making money from engagement, These are the use cases I ’ d pursue, and here ’ s what they are: 1. Use case #3 extremely rapid social response 2. 15 - This is when companies cultivate groups of current customers to sell to other customers (advocates) and track the advocates in their social CRM 3. 17 - This is when companies literally build products with the customers and partners 22 VIP Experience -
  • Transcript

    • 1. How to Gain ROI From Social Engagement
    • 2. Today’s SpeakersAdam MetzVP of Business DevelopmentThe Social Concept@TheMetzDave HawleyProduct Marketing@DaveHawley33 #SocialSales 2
    • 3. Today’s Webinar Agenda1. What is Social Customer Engagement?2. Current Trends in Social CRM3. 23 Use Cases of Social CRM4. Success Stories & Live Examples5. PowerReviews Overview6. Q & A #SocialSales 3 3
    • 4. Enter your questions intothe GoToWebinar ModuleFollow along on #SocialSales #SocialSales 4
    • 5. Adam’s Portion4 LevelsOf SocialCustomerEngagement #SocialSales 54
    • 6. Adam’s Portion UnknownSocial KnownEngagement: EngagedHow It Works Prospect Lead Hint: The Good Stuff’s At The Bottom Of The Triangle #SocialSales 65
    • 7. Social CRM Adam’s Portion Big Trends in 2012: The1. The Major Players Get That Social Is A Multi Billion-Dollar Big Business #SocialSales 76
    • 8. Social CRM Adam’s Portion Big Trends in 2012: The2. Social Marketing Automation Just Got Really,Really Cheap #SocialSales 87
    • 9. Social CRM Adam’s Portion Big Trends in 2012: The3. Brands Have Learned That It’s Way More Cost EffectiveTo Kick Butt With One Social Use Case, Rather Than BeLousy At 23 of Them #SocialSales 98
    • 10. #SocialSales 109
    • 11. Rapid Social Marketing ResponseHaving a 1 to 2hour response, via any social channel, to a customer orchannel-related marketing opportunity. #SocialSales 119
    • 12. Peer-To-PeerUnpaid Armies When brands use P2P Unpaid Armies, they’re cultivating groups of advocates to “march” on behalf of the brand. #SocialSales 129
    • 13. Crowdsourced R&D Co-creating products with your customers, partners andsuppliers, usingsocial channels. #SocialSales 139
    • 14. VIP Experience “Using social and mobile to create a specialized experience for a set of premier customers.” #SocialSales 149
    • 15. Customer Success Stories #SocialSales 10
    • 16. Johnston & Murphy Drives Conversions with Social Answers Results 50% Of revenue came from product with reviews 70% Of all visitors read reviews Less than For questions to get answered with Social 1 hour AnswersTM “ When you can’t feel or touch the products, Customer ReviewsTM provides unbiased opinions for our customers to make the best purchase decisions. - Heather Marsh Web Manager #SocialSales 16
    • 17. Step2 has Mommies Buzzing with Online Community Results 170% Increase in Facebook verification. 600% Increase in images and videos uploaded to social content. “ We’re extremely happy to work with PowerReviews on Social Loyalty because of the ability to customize the program to ” reflect our community. - Tena Crock Online Marketing Director #SocialSales 17
    • 18. “ Toy Manufacturer Increases Traffic and Revenue with Social Discovery PowerReviews has evolved with us – and the social commerce ”market – providing us with new and innovative ways to capture the social opportunity on an ongoing basis. Results 135% Increase in referral traffic from Facebook 300% Increase in revenue from Facebook- referred visitors #SocialSales 18
    • 19. Advance Auto Parts Rolls Over Competition with Integrated Social Experience Results 700% Average yearly review growth since 2009 8,000 Social LoyaltyTM participants in less than 2 months 141% Growth in reviews posted to Facebook after launching “ Social LoyaltyTM With PowerReviews’ Essential Social SuiteTM, we found a solution that helped Advance Auto Parts become the #1 online auto parts dealer. - Howard Blumenthal Director, E-commerce Platform Solutions #SocialSales 19
    • 20. Wins for PowerReviews’ Customers• 140% more reviews posted to Facebook• 26% more reviews from participants of loyalty program• 10x growth in reviews with photos submitted• 3-8x growth in long reviews submitted #SocialSales 20
    • 21. Turn Social into Sales with PowerReviews’ Essential Social Suite™The only solution tointegrate the 3 keycomponents of socialsuccess:•Social content•Social engagement•Social measurementUse proven socialtechniques to drive saleswhere it matters. #SocialSales 21
    • 22. Social Loyalty Amplifies ContentCreation Through Gamification Social Content Pict ure Picture 55 62 Picture 58 Picture 56 Picture 61 Picture 6 Picture 59 re 57 Pictu #SocialSales 22
    • 23. Integrated Gamification & Content Drives PerformanceThank you for your review Thank you for answer You earned 10 points! You’ve earned the Life Saver badge. #SocialSales 23
    • 24. Integrated Social Loyalty That’s Easy to Manage Social Loyalty Customer Social Reviews Answers #SocialSales 24
    • 25. Customer Reviews™ Attract & Convert Customers3X 14% 10-50% increase Social more in site Content organic conversio traffic n #SocialSales 25
    • 26. Fast Social Answers™ Drive Conversions Do this shoe Yes, all shoes come in kids’ are available sizes? kids’ sizes. Asked on 12/20/2011 Answered on 12/20/2011 8:31 am 11:15 am Checkout #SocialSales 26
    • 27. Flexible Work Flow Queues Ensure Answers are Created Quickly Expert Verified A: Yes, allQ: Does this Buyer shoes areshoe come in available inkids’ sizes? kids’ sizes. Crowdsource #SocialSales 27
    • 28. Social Discovery™ Amplifies Product Content to Create Traffic YOUR SITE Nikon is a Should I buy great camera! this Nikon Camera from Staples? #SocialSales 28
    • 29. Social Discovery™ Increases Content Relevancy and Engagement #SocialSales 29
    • 30. Trending Product Updates Keep Social Users Engaged & Clicking #SocialSales 30
    • 31. Integrated Social Measurement™ Provides Actionable Analysis Optimize Social To Drive Sales Measure the increase in traffic from social activity Track the impact of social activity on conversion #SocialSales 31
    • 32. PowerReviews is the Social Performance Company 5,500 Brands 96% Renewal Rate 27M Pieces of Social Content Award Winning Technology #SocialSales 32
    • 33. 50 lucky folks just won The Social Customer, the #1 selling Social CRM book of 2011 and 2012. And there’s more...we’ve got a super-cool social CRM learning tool for your iPod or mp3 player!#SocialSales 34
    • 34. Want To Learn More? Grab a free 9-hour audio course at metz.customerhub.netAlso, feel free to get a discounted copy of The Social Customerat www.socialcustomerbook.com.
    • 35. Q&AThank you for attending.For a live demo,please call: (866) 345-1461or email: info@powerreviews.comFor more information on PowerReviews,please visit: www.PowerReviews.com #SocialSales 35