Social Media ROI

V3 Integrated Marketing

Social Media ROI
When it comes to Social Media ROI, these things are a given:
It’s HARD to measure

It’s NOT like advertising
The REAL value of Social Media and Blogging is this:

It can be used to turn your business into a magnet for attracting the kind of customers and clients you WANT to have.

Old World Way to Reach Customers Banner Website Call Center Sales Rep Phone Lead Gen Direct Mail Search Phone

Old World Way to Reach Customers Direct Marketing = Fire Hose

New World Way to Reach Customers en Sales Rep Call Center Website IP TV Rating Sites Social Video TV Print E-Mail Banner Mobile Blogs Community Organic Search Lead Gen Direct mail Paid Search Widgets

New World Way to Reach Customers Brand Marketing = Envelope them in a Fog

Inbound Marketing

Inbound Marketing is More Effective Source: State of Inbound Marketing Report - http://bit.ly/aewfHr

How Does This Impact Your Business?

Social Media is for Leads and Sales Source: State of Inbound Marketing Report - http://bit.ly/aewfHr

74% Percentage of small business owners that say social media helps them close business. Source: Inc Magazine - http://bit.ly/amD4kP

Companies with more indexed pages on Google, Yahoo and Bing generate more sales leads. Every 50 to 100 incremental indexed pages can mean double-digit lead growth. Growth in new leads accelerates significantly once websites achieve 300+ pages indexed by Google. More Indexed Pages = $

Leads by Indexed Web Pages Source: State of Inbound Marketing Lead Generation Report - http://bit.ly/cVMpkn

67% Increase in monthly sales leads for companies that blog over companies that don't blog. Source: Data from over 1,500 small businesses - http://bit.ly/XDkQV

434% Increase in website pages indexed by Google for companies that blog over companies that don't blog. Source: Data from over 1,500 small businesses - http://bit.ly/XDkQV

97% of Consumers are searching online for products and services. Their behavior has changed. Have your marketing tactics changed with them?

Apples aren’t Oranges
You CAN’T
measure Social Media like a
Traditional Channel . So
don’t try to make an Apple out of
an Orange

Don’t Despair, (hang on)
Before ROI, you get this:
Increase in site traffic
Increase in time spent on site
Views of a specific landing page, blog post or offer
Increased follower/like/friend base
Increase in Share of Voice
Increase in Positive Sentiment

PATIENCE is a Virtue
Because, what you GET is this:
Increased revenue
More leads
Shorter sales cycles
Lower customer acquisition costs
Lower customer service costs
Lower customer retention costs
(WooHoo – Boss is Happy!) (Priceless)

Says WHO?
Gary Vaynerchuck
Took family wine business from $4M to $50M
via social media
He found that spending:
$15K on direct mail netted 200 new customers
$7500K on billboards netted 300 new customers
$0 on social media (other than time) netted 1800 new customers
Source: Erik Qualman, Socialnomics

Says WHO?
Moonfruit – A Web Hosting Firm
Invested $15K in social media
Web traffic up 300%
Sales up 20%

Says WHO?
FORD
25% of Ford’s ENTIRE marketing spend
is on social media
(Pssst: Think there’s a reason for that?)

Says WHO?
Genius.com (software company)
24% of their LEADS convert
to SALES opportunities

Says WHO?
Susan G Komen Foundation
@TweetsForACause , headquartered in Atlanta, sent out a tweet to encourage SUPPORT of their annual Komen event . The “Twitter family” and their ability to raise awareness from all over the world – resulted in 11,000 visitors to the Atlanta chapter’s site in 24 hours

Back to the Tricky Question – That Pesky ROI
The Key is BENEFITS
Short vs. Long
Financial vs. Non-Financial

Create a SCORECARD
Financial: Has Revenue/Profit increased? Have Costs decreased?
Brand: Have consumer attitudes about the brand improved?
Risk Management: Better prepared to find/respond?
Digital: Has the company enhanced its assets ?

If You’re Not Measuring
You’re not MARKETING
Start with a STRATEGY
Measure. Test. Test. Measure again.
Test some more.
Measure again.
Adapt. Change. Watch. Listen.
Adapt some more.

Your Scorecard Source, Augie Ray, Forrester Genius, http://www.experiencetheblog.com

And Remember, It All Starts Here - With Your Website
It Starts Here

V3 Integrated Marketing Vision + Voice + Value http://v3im.com This work is the unwed brainchild of @shellykramer + @michellelamar

Social Media ROI

by V3 Integrated Marketing on Aug 02, 2010

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Social Media ROI — Presentation Transcript