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E Consultancy Social Media Monetisation Case Study

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5 comments

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  • + guest8ba46af guest8ba46af 7 months ago
    I recently came across your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

    Alena

    http://www.sunscreenstips.com
  • + craigwbrown Craig Brown 8 months ago
    this is interesting, but ignores the way different brands and industries work well, and not so well online.
  • + mikekujawski Mike Kujawski 10 months ago
    You raise some good points and ask all the right questions. That being said, the quotes you have on page 8 are powerful on the surface but useless in this context. The reason big companies jumping into SecondLife, Facebook, YouTube, etc... saw no results is because they had no social media strategy. That is, they chose tactics before figuring out if their target audience makes purchasing decisions on those channels. I'm glad you included slide 73 , although this point of 'other benefits' deserves more elaboration since it is VERY important for long-tail, future success of a brand (i.e. relationship building).
  • + guest586855 guest586855 2 years ago
    Really good show - shame I wasn't there for the original presentation. Thanks for posting this.
  • + econsultancy Econsultancy .com 2 years ago
    http://www.e-consultancy.com/publications/online-pr-round...
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E Consultancy Social Media Monetisation Case Study - Presentation Transcript

  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”
  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
  10. Jerry Maguire, 1996
  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…
  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
  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…
  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…
  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…
  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/

+ Econsultancy .comEconsultancy .com, 2 years ago

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