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ROI Of Social Media

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Transcript

  • 1. The ROI of Social Media March 9, 2011
  • 2.  
  • 3. What do you primarily use social media for personal, business, or both?
  • 4. What social media tools do you use?
  • 5. How would you rate your knowledge of social media? (one – highest, four – lowest)
  • 6. Do you think social media is an important trend for your business?
  • 7.  
  • 8. Top 10 Most Visited Sites
    • Google
    • Facebook
    • Yahoo!
    • YouTube
    • Amazon
    • Wikipedia
    • Twitter
    • Blogger.com
    • eBay
    • Craigslist
  • 9.  
  • 10. Facebook 3,774,716,112 Twitter 183,876,953
  • 11. Youtube.com 1,238,702,433 Linkedin.com 56,542,414
  • 12. 55 Minutes a day on Facebook 65M Access Facebook on Mobile Phones
  • 13. 94% of people have turned their backs on traditional advertising.
  • 14. 90% of consumers trust product recommendations from personal acquaintances
  • 15.  
  • 16.  
  • 17. Marketing has changed more in the last 5 years than in the previous 100 combined
  • 18. Age of Distraction
  • 19.  
  • 20.
    • Is it over hyped?
    • Will something replace it?
    • Is it a big, fat waste of time?
  • 21. SM for Business Use
    • SEO
    • Create Brand Awareness
    • Reputation Management Tool
    • Customer Service and Support
    • Recruitment
    • Learn About New Technologies and Competitors
    • Lead Generation Tool
  • 22.  
  • 23.  
  • 24. Three stages of the Social Media ROI cycle
    • Setting up, running, and optimizing a social media campaign takes place in three stages:
    • Launch
    • Management
    • Optimization
  • 25. Stage One: Launch Approach: Executional Focus: Long-term Objective: Social Media Presence Results: Negligible
  • 26. Stage Two: Management Approach: Tactical Focus: Mid-term Objective: Customer engagements Results: Increased traffic
  • 27. Stage Three: Optimization Approach: Strategic Focus: Long-term Objective: Social Media ROI Results: Revenue growth
  • 28.  
  • 29. Barriers to Results
    • Takes TIME to get results
    • Takes UP time & Resources
    • Half-hearted attempts
  • 30. Effective Social Media
    • Not easy
    • Not quick
    • Not cheap
  • 31.
    • Focus
    • Grab Attention
    • Engage
    • Take Action
  • 32. 12for12 Tweet-a-Thon
    • $12k in 12 hours
    • Combat child hunger in the US
      • Clear and achievable goal
      • Sense of urgency short deadline
      • Leverage existing networks
      • Easy to Donate
      • Clear Understanding of Where $$ Go
      • Donor Recognition
  • 33. How to define success?
  • 34. Top Social Media Success Metrics Source: 2009 Business.com, Inc
  • 35. Engagement Clicked, bought, downloaded, retweeted, liked
  • 36. Social Media Strategy
  • 37. Social Media Strategy
  • 38. How to Measure ROI
    • Make goals specific and measurable
      • Increase site traffic by 25% over 6 month
      • Decrease calls by 10% over 6 month
  • 39. Source: Beth Kanter, How Much Time Does it Take To Do Social Media?
  • 40. Listen
  • 41.  
  • 42. Social Media
    • Forums
    • Blogs
    • Microblogging
    • Wikis
    • Podcasts
    • Photos
    • Videos
    • Ratings
    • Reviews
    • Social Networking
  • 43. 80% Strategy 20% Technology
  • 44.  
  • 45.  
  • 46.  
  • 47.  
  • 48. Summary
    • Return on Investment
      • Become more strategic and focused
      • Set benchmarks
      • Tangible and Intangible goals
    • Return on Conversation
    • Cost NOT to Participate
  • 49. Summary
    • Tangible (quantitative)
      • Increased sales by 25% within 6 months
      • Decrease calls to customer support by 10%
    • Intangible (qualitative)
      • Word of mouth
      • Good comments
  • 50. Opportunities Galore
    • Currently in early mode
    • Adopt what is successful
    • Another form of communication
    • Repurpose existing content to reach audiences in new ways
    • Know that change is inevitable
  • 51.  
  • 52. Action Items
    • Listen
      • Review Stats
      • Google Links
      • Google Alerts
    • Assess Current Strategy
    • Focus / Be Creative / Experiment
  • 53.  
  • 54.  
  • 55. Q & A
  • 56. When the winds of change blow, some people build walls and others build windmills