Social Media ROI - Measuring the unmeasurable?

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Cam Collins, CEO of Exuma Technologies (makers of DockMaster and RVMaster), discusses ways to convert social media activity into a complete social media strategy. Using case studies, he answers the question many people are asking: How to measure ROI on social media initiatives.

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Social Media ROI - Measuring the unmeasurable?

  1. 1. Nov. 14-17, 2010 Orlando, Fla.
  2. 2. The 24/7 Marine Dealer A Social Media Success Strategy
  3. 3. A Social Media Success Strategy The 24/7 Marine Dealer Cam Collins President/CEO Exuma Technologies www.exumatech.com www.dockmaster.com Is it measurable?
  4. 4. Three Core Principles 1.Markets are conversations 2.Markets consist of human beings, not demographic sectors 3.Conversations among human beings sound human. They are conducted in a human voice.
  5. 5. Four Step Process: People Objectives (Goals) Strategy (Success Metric) Technology
  6. 6. Social Media - People • Who is your audience? • Profile your audience • Who are your contributors? • Outside your dealership • Inside your dealership
  7. 7. Social Media – Objectives • Trust • Loyalty • Brand awareness • Engagement (e.g. conversations) • Increased sales (online/offline)
  8. 8. Social Media – Strategy Define your Success Metrics Number of customers that we complimented online Number of new prospects that came through the web Reduction in support calls and product returns Number of ReTweets Number of positive comments we get on Facebook and Twitter Number of customer suggestions that we actually implemented successfully Page rank on the major search engines Number of relevant blogs that reference us Number of people in our target demographic that follow us Twitter Number of active fans on our Facebook page Reduced spending on traditional media
  9. 9. Social Media – Technology
  10. 10. Objectives (Goals) Strategy (Success Metrics) Technology (Action Plan) •Engagement with customers, suppliers and the marine community •Brand awareness •Increase sales through online leads •Be #1 on Google for all key searches •Get X leads online per month •Reduce print ad by $X •Replace Adwords with SEO through blog, site •X connections with customers, suppliers and the marine community CASE STUDY
  11. 11. Objectives (Goals) Strategy (Success Metrics) Technology (Action Plan) •Engagement with the community. Why? Because beer is a social commodity •Trust: Want to be in the conversation, not pushing content •Sell more beer •Launched blog to promote fund raising efforts totaling $125K •Drive X% of traffic to the blog from Twitter •Follow tweets to monitor feedback. X% of tweets are responded to. •Host X online promotions per year with discount codes for tracking Empower a Social Media Team: @toniahammer @MolsonFerg CASE STUDY
  12. 12. Objectives (Goals) Strategy (Success Metrics) Technology (Action Plan) •Empower: Connect customers and employees with the Best Buy brand and each other through the right tools platforms and collaboration delivered when, where and how they want. •Sell product online through social media channels •Launched Twelpforce staffed by more than 2,500 Best Buy “blue shirt” salespeople and members of its Geek Squad tech support service. •Over 30,000 questions have been answered on Twelpforce •All products available for purchase on Facebook Fan Page CASE STUDY

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