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Kreative.asia Refining the ROI Equation

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Slides from CXO Keynote at Kreative.Asia 2012, Get Noticed Conference

Slides from CXO Keynote at Kreative.Asia 2012, Get Noticed Conference

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Kreative.asia Refining the ROI Equation Kreative.asia Refining the ROI Equation Presentation Transcript

  • Refining theROI Equation in Social Marketing Kreative.Asia, CXO Day April 6, 2012 Esther Lim, The Estuary esther@theestuarysf.com 1
  • “The more things change, the more theystay the same.” ~ Alphonse Karr 2
  • Perception around social media has evolved but integration is still immature We are here Social media Early business Reluctant Acceptance emerges adoption acceptance Present 2000 - 2004 2005 - 2007 2008 - 2011Source: Radian6 Report: ROI on Social Media 3 View slide
  • In 2012, more than 1.4 billion people will use social networkseMarketer: Worldwide Social Network Usage/Market Size and Growth, March 2012 4 View slide
  • Customers are willing to interact with brands on social networkseMarketer: Jack Morton Worldwide Report, New Realities 2012 5
  • Social sharing influences purchase decisionsSource: Socialable Labs, Social Impact Studies, How Consumers See It, March 2012 6
  • Social is not a technology, tool, or trend — it’s a new way forconsumers to connect with the people, things they care about 7
  • 93% of marketers agree brands must participate in an ongoing conversation with customers 49% agree brands are defined by customers conversing onlineSource: eConsultancy Quarterly Digital Intelligence Briefing 8
  • Companies acknowledge social media is vital to their marketing efforts “To what extent do you agree with the following statements?” Strongly Disagree Disagree Agree Strongly Agree Social media enables businesses to be more successful 13% 28% 42% 18% Companies can gain competitive advantage by leveraging social media 13% 17% 36% 35% Companies that don’t embrace social media will not survive 16% 26% 39% 20% 0% 25% 50% 75% 100%Source: Forrester Consulting/Facebook: Organize for Success Report, February 2012 9
  • Social media is one of the top six areas marketers are focusing on in 2012 39% Social Media 39% Content Optimization 34% Brand Building/Viral Marketing 32% Conversion Optimization 29% Mobile Optimization 29% Content Marketing 0 0.1 0.2 0.3 0.4Source: eConsultancy and Adobe: Digital Trends 2012 Report 10
  • Brands are putting more money behind social media How much do brands allocate to social media budgets today? • B2C Product: 9.6% • B2C Service: 8.4% • B2B Service: 7.4% • B2B Product: 6.2%Source: Forrester Consulting/Facebook: Organize for Success Report, February 2012 11
  • Marketers feel their social media strategies are weak or not working 55% of marketers agree that measuring the impact of social media marketing is very difficultSource: Forrester Consulting/Facebook: Organize for Success Report, February 2012 12
  • Company executives struggle with customer intelligenceSource: Columbia University’s Center on Global Brand Leadership and the New York American Marketing Association (NYAMA) 13
  • Reasons for not collecting customer insight creates a vicious cycle for securing budget/support ‣ Budget limitations ‣ Resource limitations ‣ Lack of the right tools ‣ Lack of Executive support ‣ Lack of access to data (silos) ‣ Lack of knowledge to extract insights from dataSource: Columbia University’s Center on Global Brand Leadership and the New York American Marketing Association (NYAMA) 14
  • “An organization’s ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.”~Jack Welch, Chairman and CEO of General Electric 15
  • Most brands can’t differentiate between metrics and ROI resulting in poor or irrelevant learningsSource: eConsultancy Quarterly Digital Intelligence Briefing 16
  • Likes Followers/Fans Web Traffic Mentions Today, the leading social media marketing metrics is social presenceSource: eConsultancy Quarterly Digital Intelligence Briefing
  • Likes ⧣ Engagement Followers/Fans Web Traffic Mentions ⧣ ⧣ ⧣ Influence Awareness Fan Metrics without context can be meaninglessSource: eConsultancy Quarterly Digital Intelligence Briefing
  • Narrative from data isn’t always as itappears. Look closer‣ Quality from the right audience wins over quantity of engagement‣ Quantity is easy to get today especially on Twitter‣ Quality engagement is earned 19
  • How do we get the right insights?Consider these questions:‣ What do I want to learn? In what areas? (Marketing, PR, Product)‣ Do I know my audience? Who are my loyal most valued customers?‣ What do customers want from my brand, product, service, event, offering?‣ How do customers feel about our brand, product, service, event or offering? What are they saying? To whom?‣ What are they doing online, on what device, when and with whom?‣ What behaviors do I want to drive? How does that map to specific actions? 20
  • Redefine your metrics to be more specific ‣ SEO & Page Rank = Likelihood of being found ‣ Influence = The power or ability to affect someone’s actions. ‣ Engagement = Some action beyond zero ‣ Relationships = Long term engagement leading to trust ‣ Advocacy = engagement driven by an agenda ‣ Sentiment = contextual expression of opinion – regardless of toneSource: KD Paine and Partners 21
  • Choose the right monitoring tools‣ If you want to measure messaging, positioning, themes, sentiment: Content analysis‣ If you want to measure awareness, perception, relationships, preference: Survey research‣ If you want to measure engagement, action, purchase: Web analytics‣ If you want predictions and correlations you need two out of three 22
  • Package your findings as stories to showa successful use case to executivesConnect the dots between audience, metrics,actions and tools to provide context around yourcustomer’s storiesWith context and supporting data, you can create asolid business case to executive management togain support, resource and budget. 23
  • Thank YouFor more information or inquiries visit:Esther Limwww.theestuarysf.comOr email: esther@theestarysf.comFollow me on Twitter: @geekgrl 24