Connected Moments: Measuring and Monetizing Social Media - Adam Lavelle - iCrossing

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What is connectedness and what are connected moments? How do you measure and monetize social media? iCrossing Chief Strategy Officer, Adam Lavelle, explains in detail how you can capitalize on the …

What is connectedness and what are connected moments? How do you measure and monetize social media? iCrossing Chief Strategy Officer, Adam Lavelle, explains in detail how you can capitalize on the moments that matter in this keynote presentation delivered at the Council of Public Relations Firms: Igniting Opportunities event, on April 25, 2012. Join the connectedness conversation at: http://www.icrossing.com/icrossing-blogs-conversations-feed/connectedness

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  • 1. Social MediaMonetization & MeasurementAdam Lavelle, Chief Strategy Officer, iCrossingApril 26, 2012
  • 2. What is a moment?moment – (physics): a tendency to produce motion, esp rotation about a point or axis 2
  • 3. Which moments are worth owning? Exploring Point of Sale Use of Product Advocacy/WOM First Second ThirdAdvertising Moment Moment Moment of Truth of Truth of Truth The online The 3-7 seconds When you What you say to decision-making when you are experience others about the moment(s) staring at the the product product products on the shelf Jim Lecinski,, A.G. Lafley, A.G. Lafley, Pete Blackshaw, Google P&G P&G Nestle 3
  • 4. Source: Forrester 4
  • 5. Source: Forrester 5
  • 6. 6
  • 7. Making the moments matter 7
  • 8. Buying attention alone is not sustainable When bought media ‘goes dark’ there is no conversation between the brand and the audience Attention Launch End Launch End Time 8
  • 9. Bought, earned, owned build value * To succeed, earned and owned have to be always-on Bought Attention End Bought Launch End Bought End Launch Earned & Owned * Launc h Time 9
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  • 15. CTR for ‘social’ email… (% of total) January 2012 9.6% 5.4% 5.0% 2.6% CTR without sharing CTR with Facebook CTR with Twitter CTR with Linkedin Source: GetResponse 15
  • 16. Time Spent on Site by Log-in Type (Minutes) January 2012 12 8 5 Social log-in Standard log-in Not logged in Source: Gigya 16
  • 17. Time Spent on Site by Plug-in Interaction (Minutes, after clicking a plug-in) January 2012 15.6 12.5 11.6 10.3 5.0 Comments Newsfeed Shares Log-in (site & social) No interaction Source: Gigya 17
  • 18. Human beings know they are ‘influentials’ Millenials Xers Boomers Seniors I am an influential information source 73% 53% 51% 44% I regularly influence friends and family to buy or not to buy a 69% 49% 41% 27% particular product or service Using social network sites has made it easier for me to decide 61% 46% 36% 29% on what to buy Using social network sites to share my shopping and product 51% 33% 19% 9% experiences make me feel empowered Women’s marketplace influence self-assessment 73% of young adult women describe themselves as influential information sources Ipsos Mendelsohn /Fleishman Hillard /Hearst, Jan 2012 18
  • 19. Purchasing ‘inside’ social – not so much… Product Purchase Intent, via Facebook Retailer Page (% of respondents) December 2011 34% 32% 15% 10% 9% Would never purchase Do not use Facebook Did not know possible Would purchase Have purchased Source: Oracle 19
  • 20. Average revenue per order… Revenue Per Order $300.0 $250.0 $200.0 $150.0 $100.0 $50.0 $0.00 All Digital Display Paid Search Natural Affiliates Comparison Email Social Media Channels Average Average Search Average Shopping Average Average Average Average Average Source: February 2012 by ClearSaleing 20
  • 21. Is this true? 21
  • 22. Thank you McKinsey, for having a chart… Social media enables targeted marketing responses at individual touch points along the consumer decision journey. 1. Monitor 2. Respond 3. Amplify 4. Lead Social channels to consumers’ current positive changes in sentiment for trends, insights comments activity/tone or behavior Consider Brand monitoring Crisis Referrals and Brand content management recommendations awareness Evaluate Product launches Steps in the consumer decision journey Buy Targeted deals, offers Experience Customer service Fostering Customer input communities Advocate Brand advocacy Bond Source: Expert interviews; McKinsey analysis 22
  • 23. Which moments matter, and howdo we make them happen well? 23
  • 24. Thank you Adam LavelleChief Strategy Officer, iCrossing Find out more at www.icrossing.com Follow us on Twitter @icrossing Become a fan at Facebook.com/icrossing