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Willamette - Paul - The ROI of Social Media - VinTank

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The ROI of Social Media

The ROI of Social Media

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  • There is only one finite resource – time. In a world of ever increasing noise we are not only fighting for mind share vs. other wineries, we are fighting for mindshare in general.
  • Over 8000 (16K+ brands) wineries exist in the US
    Less than 50 have a dedicated e-commerce resource (often managing more that one brand)
    Less than 20 have a dedicated social media resource
    Only four have a digital resource with the title of Director or VP
  • Transcript

    • 1. The Digital Divide
    • 2. • Wine First • Tech • Social Media • Give it a try – a few tactics
    • 3. The Most Competitive Wine Market in Human History
    • 4. Great wine from EVERYWHERE
    • 5. Great wine from EVERYWHERE 2002 Chaupi Estancia Palomino Fino Yaruqua, Ecuador
    • 6. Telling the same story
    • 7. There are almost no advantages to buy direct from a winery.
    • 8. Prepare for the toughest fight ever.
    • 9. The new giants
    • 10. The new giants
    • 11. It wasn’t that long ago
    • 12. From science fiction
    • 13. To science fact
    • 14. To science fact
    • 15. Who would’ve guessed? By 2017, CMO’s will spend more on IT than CIO’s - Gartner
    • 16. 44% of our customers media consumption is digital. 2014 Federal Trade Commission Report – 7.9% of our marketing dollars is spent on digital.
    • 17. Smart phones are getting smarter . . .
    • 18. http://allthingsd.com/20130529/mary-meekers-2013-internet-trends-deck-the- full-video/
    • 19. • A typical user checks their smart phone ~150x per day Source - http://www.slideshare.net/kleinerperkins/kpcb-internet-trends-2013
    • 20. Social Media usage & mobile Source - http://www.unifiedsocial.com/mobile-social-marketing/
    • 21. This is just the beginning . . . Source - http://www.slideshare.net/kleinerperkins/kpcb-internet-trends-2013
    • 22. The Internet of Things
    • 23. The customer is the
    • 24. Search is the fiber that connects the web . . . Doug Cook – Ablegrape.com
    • 25. Service is the new pillar of marketing
    • 26. Cost of Caring
    • 27. Are we adjusting the sails?
    • 28. Wine and Social Media
    • 29. There’s no holding it back
    • 30. Social media is not the panacea.
    • 31. Customer Relationships (past)
    • 32. The new customer relationship
    • 33. Social Media is the thin connection with customers between the strong ones.
    • 34. Social is a public 1:1 two-way conversation.
    • 35. ROI
    • 36. ROI
    • 37. #proof “An extra half-star on Yelp reduces reservation availability by approximately 19 percentage points.” - The Economic Journal, 5 October 2011
    • 38. An average winery gets 2 – 20 organic mentions per week Over 80% of those go unanswered
    • 39. ONE DOES NOT SIMPLY WALK INTO MORDOR
    • 40. A wine meme is like junk food, tastes good at the time but it’s full of empty calories.
    • 41. Some hard hittin’ stats • An average of 1.5 million organic conversations about wine per day • 450K new people talking about wine on social media every month • In the last 5 years we analyzed 1 Billion conversations on social media and retained 60M “quality” conversations • Over 16 million people profiled that mentioned wine 1x on SM
    • 42. The old rating system
    • 43. The new rating system
    • 44. The Old Critic
    • 45. The Old Critic
    • 46. The New Critic
    • 47. The New Critic
    • 48. The New Critic
    • 49. The New Critic
    • 50. The New Critic
    • 51. “It is a bull market for free content.” Tyler Coleman – Dr. Vino
    • 52. Leaving Maybe 25 Power Critics
    • 53. For people under 40, 70% of the content they read online has been written or shared by somebody they know.
    • 54. YOU ARE A MEDIA COMPANY
    • 55. “Content will be the future of advertising, people distributing and creating content for your brand will be the barometer of your advertising success.” Barry Schuler – former CEO AOL/Time Warner/CEO Meteor Vineyards
    • 56. =
    • 57. Many Hands Make Light Work
    • 58. Wine consumers now self identify
    • 59. Our customer interactions are myopic
    • 60. I am the sum of my parts Foodspotting Pmabray Instagram pmabray Foursquare Paul M. Paul Mabray Twitter @pmabray Facebook Paul Mabray Google + pemabray
    • 61. Texture aka Context is Everywhere
    • 62. If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends. -Jeff Bezos
    • 63. Social Media & PR
    • 64. Gasoline or a Fire Extinguisher
    • 65. Listen and respond to YOUR customers
    • 66. Listen and respond to competitor s customers
    • 67. Listen and respond to nearby locations
    • 68. Listen and respond to people talking varieties
    • 69. Follow the Pareto aka Social White Glove Treatment
    • 70. Reward your customers
    • 71. Reward your best advocates
    • 72. THANK YOU paul@vintank.com @pmabray