Engagement And ROI of Social Media

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My views on how to business should engage clients in social media and an attempt to answer the big ROI question.

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Engagement And ROI of Social Media

  1. 1. Engagement & ROI Shailesh Ghimire Director of Interactive Marketing [email_address] airmarketing.com/blog
  2. 2. Recap <ul><li>Integrating Social Media and Sales </li></ul><ul><ul><li>Setting goals </li></ul></ul><ul><ul><li>Assessing return on effort </li></ul></ul><ul><li>Overview of social media usage among consumers </li></ul><ul><li>Social technologies tour </li></ul><ul><li>Real-world case studies </li></ul>
  3. 3. Social Technologies <ul><li>Blogs, Podcasts and vLogs </li></ul><ul><li>Social Networks/Virtual Worlds </li></ul><ul><li>Social Bookmarking Tools (Digg, StumbleUpon) </li></ul><ul><li>Collaboration Tools (Wikis, Google Docs) </li></ul><ul><li>Video / Photo Sharing </li></ul><ul><li>Micro blogging: Twitter (text), Seesmic (video) </li></ul>
  4. 4. What Consumers Do Online Source: Forrester Research
  5. 5. Audience + Goals  Strategy <ul><li>Example 1 </li></ul><ul><ul><li>Audience = Primarily commenting </li></ul></ul><ul><ul><li>Goal = Generate leads </li></ul></ul><ul><ul><li>Strategy = Engage via blogs, feedback options - on product pages and create avenues for data capture </li></ul></ul><ul><li>Example 2 </li></ul><ul><ul><li>Audience = Primarily observing </li></ul></ul><ul><ul><li>Goal = Thought leader </li></ul></ul><ul><ul><li>Strategy = Develop content-rich blog, supply ample photos and videos, weekly podcasts </li></ul></ul>
  6. 6. Time and Resources
  7. 7. By Now You Should Have… <ul><li>A basic understanding of Social Media </li></ul><ul><ul><li>Interactive Online Marketing </li></ul></ul><ul><li>A basis for developing a strategic plan </li></ul><ul><ul><li>GMOOT is not a plan </li></ul></ul><ul><li>An appreciation of the commitment required </li></ul>
  8. 8. Final Phase <ul><li>Mastering engagement </li></ul><ul><li>Refining strategy </li></ul><ul><li>Understanding ROI </li></ul>
  9. 9. Engagement <ul><li>Characteristics: </li></ul><ul><ul><li>Personal and authentic </li></ul></ul><ul><ul><li>&quot;How to Win Friends and Influence Others&quot; </li></ul></ul><ul><ul><li>Timely and relevant </li></ul></ul><ul><ul><li>Prepared for the long haul </li></ul></ul>
  10. 10. Walmart <ul><li>Tried setting up their own social network </li></ul>
  11. 11. Walmart <ul><li>A &quot;customer&quot; blog </li></ul><ul><li>Facebook </li></ul>
  12. 12. But Finally Got it Right… <ul><li>Buyers' blog </li></ul>
  13. 13. Lessons from Walmart <ul><li>GMOOT doesn't work </li></ul><ul><ul><li>May need to try a few different options </li></ul></ul><ul><li>Do not assume anything </li></ul><ul><li>Leverage your current strength </li></ul>
  14. 14. Refining Your Strategy <ul><li>Audience + Goals  Strategy </li></ul><ul><ul><li>Audience = Primarily commenting </li></ul></ul><ul><ul><li>Goal = Generate leads </li></ul></ul><ul><ul><li>Strategy = Engage via blogs, feedback options - on product pages and create avenues for data capture </li></ul></ul><ul><li>Post-engagement: </li></ul><ul><ul><li>Customer reaction/expectations </li></ul></ul><ul><ul><li>Review frequency and level of interaction </li></ul></ul><ul><ul><li>Analyze your content (review analytics and search traffic) </li></ul></ul>
  15. 15. ROI Question <ul><li>What Social Media can do for you: </li></ul><ul><ul><li>Expand the audience for your message </li></ul></ul><ul><ul><li>Excite fans, customers </li></ul></ul><ul><ul><li>Enable connections with new audience </li></ul></ul><ul><ul><li>Gather insights, opinions </li></ul></ul><ul><ul><li>Listen more effectively and create dialog </li></ul></ul>
  16. 16. Setting Expectations <ul><li>Biggest impact: </li></ul><ul><ul><li>Reputation management </li></ul></ul><ul><ul><li>Brand building </li></ul></ul><ul><ul><li>Public and customer relationships </li></ul></ul><ul><li>Substantially improves: </li></ul><ul><ul><li>Search Engine Optimization (SEO) </li></ul></ul><ul><ul><li>Lead generation </li></ul></ul>
  17. 17. Potter's Case <ul><li>Universal Orlando Resort </li></ul><ul><ul><li>Wizarding World of Harry Potter </li></ul></ul><ul><ul><li>Big rollout needed </li></ul></ul><ul><li>Traditional approach: </li></ul><ul><ul><li>30-second TV spots </li></ul></ul><ul><ul><li>Billboards across the country </li></ul></ul><ul><ul><li>Self-congratulatory PR release begging the media for attention </li></ul></ul>
  18. 18. Tried a Different Approach <ul><li>Told just seven people about the launch </li></ul><ul><li>Top fans at the top Harry Potter fan sites (mugglenet.com) </li></ul><ul><ul><li>Rowling herself had a role in who was selected </li></ul></ul><ul><li>Invited to special webcast at midnight </li></ul><ul><ul><li>Presentation directly from the top creators/designers </li></ul></ul>
  19. 19. Tried a Different Approach <ul><li>Had a website ready for bloggers to link to with detailed information </li></ul><ul><li>Next day announced it on the opt-in eNewsletter </li></ul>
  20. 20. Then They Sat and Watched <ul><li>The seven brought the fan base alive: </li></ul><ul><ul><li>Blogs lit up </li></ul></ul><ul><ul><li>Fan forums </li></ul></ul><ul><ul><li>Social networks came alive </li></ul></ul><ul><ul><li>eMails were forwarded </li></ul></ul><ul><li>Traditional media picked up the excitement </li></ul><ul><li>From seven  350 million people </li></ul>
  21. 21. Potter's ROI <ul><li>Hard cost: </li></ul><ul><ul><li>Reach the first seven </li></ul></ul><ul><ul><li>Communicate to opt-in database </li></ul></ul><ul><li>Return: </li></ul><ul><ul><li>Free TV & radio coverage </li></ul></ul><ul><ul><li>Direct site traffic </li></ul></ul><ul><ul><li>SEO </li></ul></ul>
  22. 22. Now Your ROI
  23. 23. Blogs White Label Social Networks Wiki’s eMails Social Networks
  24. 24. Critical Important Nice to Have Resources - ROI
  25. 25. Key Points <ul><li>Determine conversion </li></ul><ul><ul><li>Sales leads </li></ul></ul><ul><ul><li>eCommerce </li></ul></ul><ul><ul><li>Awareness </li></ul></ul><ul><li>Measure engagement </li></ul><ul><ul><li>1200 friends </li></ul></ul><ul><ul><li>500 followers </li></ul></ul><ul><ul><li>3 blog posts/week , 5 comments </li></ul></ul><ul><li>Determine ROI </li></ul>
  26. 26. Final Word on ROI <ul><li>Two camps: </li></ul><ul><ul><li>Just do it </li></ul></ul><ul><ul><li>Doesn't work </li></ul></ul><ul><li>Truth is somewhere in the middle </li></ul><ul><li>There is ROI </li></ul>
  27. 27. Closing Thoughts You can't ignore this anymore!
  28. 28. It's Reached a Tipping Point <ul><li>60% of Americans interact with companies on a social media website </li></ul><ul><li>One in four interact more than once per week </li></ul><ul><li>93% of Americans believe a company should have a presence in social media </li></ul><ul><li>85% believe a company should also interact with its consumers via social media </li></ul><ul><li>Boston consulting firm Cone, Boston Globe, September 25, 2008 </li></ul>
  29. 29. What They Want From You… <ul><li>43% said companies should use social networks to solve their problems </li></ul><ul><li>41% said companies should solicit feedback on their products and services </li></ul><ul><li>37% said companies should develop new ways for consumers to interact with their brand </li></ul>
  30. 30. What This Means…. <ul><li>You’ll need to have a social media presence </li></ul><ul><li>Develop and execute an effective strategy </li></ul><ul><li>Ideally, social media will be integrated within your overall marketing </li></ul>
  31. 31. Marketing
  32. 32. Getting Started <ul><li>Focus on relationships and not campaigns </li></ul><ul><li>Already use social media successfully themselves </li></ul><ul><li>Commit resources to learning and training </li></ul><ul><li>Have learned from their mistakes </li></ul><ul><li>Respect and are humbled by the medium </li></ul>
  33. 33. Questions? Shailesh Ghimire (480) 748-2694 [email_address] airmarketing.com/blog
  34. 34. AIR 2.0 <ul><li>AIR Blogging </li></ul><ul><ul><li>AirMarketing.Com/Blog </li></ul></ul><ul><li>AIR Social Network </li></ul><ul><ul><li>AirMarketing.Ning.com </li></ul></ul><ul><li>Facebook and Flickr </li></ul>

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