Engagement And ROI of Social Media

Engagement & ROI Shailesh Ghimire Director of Interactive Marketing [email_address] airmarketing.com/blog

Recap
Integrating Social Media and Sales
Setting goals
Assessing return on effort
Overview of social media usage among consumers
Social technologies tour
Real-world case studies

Social Technologies
Blogs, Podcasts and vLogs
Social Networks/Virtual Worlds
Social Bookmarking Tools (Digg, StumbleUpon)
Collaboration Tools (Wikis, Google Docs)
Video / Photo Sharing
Micro blogging: Twitter (text), Seesmic (video)

What Consumers Do Online Source: Forrester Research

Audience + Goals  Strategy
Example 1
Audience = Primarily commenting
Goal = Generate leads
Strategy = Engage via blogs, feedback options - on product pages and create avenues for data capture
Example 2
Audience = Primarily observing
Goal = Thought leader
Strategy = Develop content-rich blog, supply ample photos and videos, weekly podcasts

Time and Resources

By Now You Should Have…
A basic understanding of Social Media
Interactive Online Marketing
A basis for developing a strategic plan
GMOOT is not a plan
An appreciation of the commitment required

Final Phase
Mastering engagement
Refining strategy
Understanding ROI

Engagement
Characteristics:
Personal and authentic
"How to Win Friends and Influence Others"
Timely and relevant
Prepared for the long haul

Walmart
Tried setting up their own social network

Walmart
A "customer" blog
Facebook

But Finally Got it Right…
Buyers' blog

Lessons from Walmart
GMOOT doesn't work
May need to try a few different options
Do not assume anything
Leverage your current strength

Refining Your Strategy
Audience + Goals  Strategy
Audience = Primarily commenting
Goal = Generate leads
Strategy = Engage via blogs, feedback options - on product pages and create avenues for data capture
Post-engagement:
Customer reaction/expectations
Review frequency and level of interaction
Analyze your content (review analytics and search traffic)

ROI Question
What Social Media can do for you:
Expand the audience for your message
Excite fans, customers
Enable connections with new audience
Gather insights, opinions
Listen more effectively and create dialog

Setting Expectations
Biggest impact:
Reputation management
Brand building
Public and customer relationships
Substantially improves:
Search Engine Optimization (SEO)
Lead generation

Potter's Case
Universal Orlando Resort
Wizarding World of Harry Potter
Big rollout needed
Traditional approach:
30-second TV spots
Billboards across the country
Self-congratulatory PR release begging the media for attention

Tried a Different Approach
Told just seven people about the launch
Top fans at the top Harry Potter fan sites (mugglenet.com)
Rowling herself had a role in who was selected
Invited to special webcast at midnight
Presentation directly from the top creators/designers

Tried a Different Approach
Had a website ready for bloggers to link to with detailed information
Next day announced it on the opt-in eNewsletter

Then They Sat and Watched
The seven brought the fan base alive:
Blogs lit up
Fan forums
Social networks came alive
eMails were forwarded
Traditional media picked up the excitement
From seven  350 million people

Potter's ROI
Hard cost:
Reach the first seven
Communicate to opt-in database
Return:
Free TV & radio coverage
Direct site traffic
SEO

Now Your ROI

Blogs White Label Social Networks Wiki’s eMails Social Networks

Critical Important Nice to Have Resources - ROI

Key Points
Determine conversion
Sales leads
eCommerce
Awareness
Measure engagement
1200 friends
500 followers
3 blog posts/week , 5 comments
Determine ROI

Final Word on ROI
Two camps:
Just do it
Doesn't work
Truth is somewhere in the middle
There is ROI

Closing Thoughts You can't ignore this anymore!

It's Reached a Tipping Point
60% of Americans interact with companies on a social media website
One in four interact more than once per week
93% of Americans believe a company should have a presence in social media
85% believe a company should also interact with its consumers via social media
Boston consulting firm Cone, Boston Globe, September 25, 2008

What They Want From You…
43% said companies should use social networks to solve their problems
41% said companies should solicit feedback on their products and services
37% said companies should develop new ways for consumers to interact with their brand

What This Means….
You’ll need to have a social media presence
Develop and execute an effective strategy
Ideally, social media will be integrated within your overall marketing

Marketing

Getting Started
Focus on relationships and not campaigns
Already use social media successfully themselves
Commit resources to learning and training
Have learned from their mistakes
Respect and are humbled by the medium

Questions? Shailesh Ghimire (480) 748-2694 [email_address] airmarketing.com/blog

AIR 2.0
AIR Blogging
AirMarketing.Com/Blog
AIR Social Network
AirMarketing.Ning.com
Facebook and Flickr

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Engagement And ROI of Social Media

by Shailesh Ghimire on Nov 19, 2008

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Engagement And ROI of Social Media — Presentation Transcript