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E Consultancy Social Media Monetisation Case Study

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Monetising Social Media A case study in measuring the value of social media marketing online

Monetising Social Media A case study in measuring the value of social media marketing online

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    • 1. Monetising Social Media A case study in measuring the value of social media marketing online Ashley Friedlein CEO E-consultancy.com
    • 2. “ The future of the social web ” “ Harnessing Social Media for B2B and B2C marketing campaigns” “ How UK Government approaches the web and social media ” “ Social and Professional Networking how marketers and users navigate in the Web 2.0 world” “ The impact and ROI of social retail ”
    • 3. What is ‘Social Media’?
      • Blogs
      • Discussion Boards & Communities
      • Product review sites
      • Media-sharing
      • Social Networking
      • Bookmarking / tagging
      • ‘ Social commerce’, ‘social news’ etc….
    • 4. “ Internet-based tools and venues where anyone can communicate publicly”
    • 5.
    • 6. Universal McCann Social Media Study
    • 7. Great for PR BUT…
    • 8. Q: Has Second Life worked for you? A: “It’s a lot more hype than reality.” Chris Shimojima, VP, Nike.om Q: How did the YouTube clip help generate pledges? A: “…i t's not a top referring site … in terms of pledges and uptake of products, we're not seeing that come through. ” Rob Merrington, Head of Brand Advertising, EDF Energy
    • 9.
    • 10. Jerry Maguire, 1996
    • 11.
    • 12. How do we make money?
      • Advertising
        • Average £20 per thousand page views / 2 ads per page / 3 pages views per visit
        • Average advertising value per visit = 12p
      • Commerce (Subscriptions, Memberships, Events, Training etc.)
        • Conversion rate = 0.25%
        • Average order value = £200
        • Average commerce value per visit = 50p
    • 13. Average Total Value / Visit = 62p
    • 14. (but some visits are more valuable than others)
    • 15. Direct Traffic Indirect Traffic (aka Google)
    • 16. Top Referring Domains
    • 17. 7,000 visits a day from Google = £4,340 a day…
    • 18.
    • 19. How many more direct visits can we get? Can we get more Google love? from ‘social media marketing’
    • 20. Question 1 Should we engage with sites that deliver VOLUME (REACH) or INFLUENCE?
    • 21. Answer 1 Both… VOLUME = VOLUME INFLUENCE = SEO = VOLUME
    • 22. Question 2 So which sites would deliver volume (and the right prospective customers) And which (SEO) influence?
    • 23. Answer 2 VOLUME / REACH INFLUENCE
    • 24. Lots of sites…
    • 25. Prioritised + How to approach
    • 26. Go engage!
    • 27. Links via Online PR
    • 28. BBC Internet Blog
    • 29. Multilingual Search Community
    • 30. BazaarVoice Blog
    • 31. Internetworldstats.com
    • 32. Facebook
    • 33. Links via Answering Questions
    • 34. Yahoo! Answers
    • 35. LinkedIn Answers
    • 36. WikiAnswers
    • 37. Wikipedia
    • 38. Links via Profiles / ‘Channels’
    • 39. YouTube Channel
    • 40. Twitter Channel
    • 41. Slideshare Channel
    • 42.
    • 43. Dailymotion
    • 44. Veoh
    • 45. Links via Bookmarking / Tagging
    • 46. Digg
    • 47. Del.icio.us
    • 48. Was it worth it?
    • 49. Scores on the doors…
    • 50. Cost
      • Search Agency
        • £3,000
      • Data / Tools
        • Free (-ish)
      • Internal Time
        • 5 days worth of time
      Call it £10,000
    • 51. Referred visits in last 6 weeks
      • Stumbleupon
      1,369 LinkedIn 669 Wikepedia 547 Del.icio.us 276 Twitter 106
    • 52. Views = 1,746 No. referred visits = 5
    • 53. No. referred visits = 77
    • 54. Total no. ‘social media’ referred visits = 18,000
    • 55. Value = 18,000 X 62p = £11.16k…
    • 56.
    • 57. SEO impact?
    • 58. Google Natural Search Referrals
    • 59. Total no. incremental visits for SEO improvement = 72,000
    • 60. Value = 72,000 X 62p = £44.64k…
    • 61.
    • 62. ROI = (£11.16K + £44.64k) / £10k = 558%
    • 63. BUT… (there’s always a but)
    • 64. How many of these links came from this campaign ?
    • 65. Do we really know the Google improvements came about from this campaign ?
    • 66. (but some visits are more valuable than others) less
    • 67. We assumed Average commerce value per visit = 50p
    • 68. So how much did we actually sell?
    • 69. £112k sold online in the period
    • 70. ‘ Social media’ referred sales… £2.4k (2.1% of sales)
    • 71. And EVERY SINGLE ONE of those... ALSO searched Google on us before buying
    • 72. Other Benefits
      • Built PR contacts db
      • Found high-performing new affiliates
      • Found new partners (e.g. for contras, co-registration etc.)
    • 73. Other Benefits
      • Built influence / credibility
    • 74. Conclusion
      • Worth it but
        • Quite a bit of work
        • Value in tangential areas
      • Good-ish for traffic; less good for sales
      • Indirect traffic via search bigger than direct traffic (and higher value)
      • But mostly…
    • 75.
    • 76. Questions? E-consultancy Resources:
      • Online Measurement and Strategy Report 2008 (with Lynchpin)
      • http://www.e-consultancy.com/publications/online-measurement-and-strategy-report-2008/
      • Web Analytics Buyer’s Guide
      • http://www.e-consultancy.com/publications/web-analytics-buyers-guide-2007/
      • Web Analytics Request for Proposal Template
      • http://www.e-consultancy.com/publications/web-analytics-rfp-request-for-proposal/
      • Web Analytics Business Case
      • http://www.e-consultancy.com/publications/web-analytics-business-case
      • Measurement, Analytics and Optimisation Briefing
      • http://www.e-consultancy.com/publications/analytics-measurement-optimisation-briefing-march-2008/