Social media roi

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Is there ROI in social media engagement ? This slide deck provides multiple interpretations to ROI and explains on social media can create ROI

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Social media roi

  1. 1. Social Media ROI Hareesh Tibrewala [email_address]
  2. 2. Agenda <ul><li>R isk O f I naction </li></ul><ul><li>R eturn O n I nvestment </li></ul><ul><li>My ROI </li></ul>
  3. 3. R isk O f I naction
  4. 4. Gap Logo Change <ul><li>More than 1000 posts on FB page lamblasting the new logo </li></ul><ul><li>@Gaplogo twitter handle set up by irritated fan </li></ul><ul><li>“ All roads were leading us back to the old logo ” </li></ul><ul><li>Social Media saves the day for Gap </li></ul>
  5. 5. Kryptonite Disaster <ul><li>Lock is compromised by a Bic pen </li></ul><ul><li>Brand caught unaware </li></ul><ul><li>Poor response, plummeting sales </li></ul><ul><li>Finally forced to withdraw the product, offer 100% replacement </li></ul><ul><li>Social Media became their Waterloo </li></ul>
  6. 6. R eturn O n I nvestment
  7. 7. <ul><li>Viral Videos </li></ul><ul><li>Cost of creation : $1000 </li></ul><ul><li>Cost of promotion : $0 </li></ul><ul><li>Revenue growth </li></ul><ul><ul><li>5 times revenue growth in one year </li></ul></ul>
  8. 8. Gary Vaynerchuck <ul><li>Wine selling </li></ul><ul><li>$15,000 direct mail </li></ul><ul><ul><li>200 new customers </li></ul></ul><ul><li>$7,500 on billboards </li></ul><ul><ul><li>300 new customers </li></ul></ul><ul><li>$0 on twitter </li></ul><ul><ul><li>1800 new customers </li></ul></ul><ul><li>Grew his business from $4mn to $50mn using social media </li></ul>
  9. 9. Gary Vaynerchuck <ul><li>Daily video blog </li></ul><ul><ul><li>Tv.winelibrary.com </li></ul></ul><ul><li>800,000 Twitter followers </li></ul><ul><li>50,000 FB fans </li></ul><ul><li>Created a community </li></ul><ul><li>1 st time wine buyers </li></ul><ul><li>Converted a “snooty” category into a “fun” category </li></ul>
  10. 10. <ul><li>New Orleans based Pizza outlet </li></ul><ul><li>Found direct mailing option to be expensive </li></ul><ul><li>Used Twitter to reach out to consumers </li></ul><ul><li>Created its own “list” and community </li></ul><ul><li>60% sales via Twitter </li></ul><ul><ul><li>“ I am calling from Twitter” </li></ul></ul>
  11. 11. <ul><li>Burger King Whopper Sacrifice on Facebook </li></ul><ul><li>Costs </li></ul><ul><ul><li>Application : $25K </li></ul></ul><ul><ul><li>Gratification : $75K </li></ul></ul><ul><li>ROI </li></ul><ul><ul><li>32 mn free media impressions :$2000K value </li></ul></ul><ul><ul><li>New sales : $750 K </li></ul></ul><ul><ul><li>Top of mind recall:$$$ </li></ul></ul>
  12. 12. <ul><li>Created peer-to-peer community support platform </li></ul><ul><li>Studied consumer feedback </li></ul><ul><ul><li>Marketing. Sales, Product, Custserv </li></ul></ul><ul><li>Reduced laptop support cost by 20% </li></ul><ul><li>Increased productivity for agents and NPS </li></ul>
  13. 13. <ul><li>Lead generation company </li></ul><ul><li>Reports that 24% of social media leads convert into opportunities </li></ul>
  14. 14. <ul><li>Finance and accounts management software (Quickbooks) </li></ul><ul><li>New product :Turbo Tax </li></ul><ul><li>Used customers to create communities to test the product </li></ul><ul><li>Got product feedback </li></ul><ul><li>Increased sales by 30% </li></ul>
  15. 15. Barack Obama <ul><li>5mn fans on social media </li></ul><ul><li>3 mn online donors gave $500 mn </li></ul><ul><li>92% donations were in increments less than $100 </li></ul>
  16. 16. My ROI
  17. 17. Identify Business Objective <ul><ul><ul><ul><li>Brand Building </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Generating Sales </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Customer Service </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Reputation Management </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Co creating products </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Creating B2B relationships </li></ul></ul></ul></ul>
  18. 18. Objective : Lead Generation <ul><li>Beginning of the Funnel : Awareness </li></ul><ul><ul><ul><li>Fans, followers, blog views, connections </li></ul></ul></ul><ul><li>Middle of the Funnel : Engagement </li></ul><ul><ul><ul><li>Likes, comments, re-tweets, blog comments, participate in an engagement </li></ul></ul></ul><ul><li>End of the Funnel : Conversion </li></ul><ul><ul><ul><li>Call to action </li></ul></ul></ul>
  19. 19. Objective : Reputation Management <ul><li>Sourcing conversations </li></ul><ul><li>Doing a sentiment analysis </li></ul><ul><li>Generating a SIM score </li></ul><ul><ul><li>SIM Score : ((Positive+Neutral)-Negative)/Total </li></ul></ul><ul><ul><li>Benchmark SIM Score sub-category wise </li></ul></ul><ul><ul><li>Benchmark SIM Score over a period of time </li></ul></ul><ul><ul><li>Benchmark SIM Score wrt competition </li></ul></ul>
  20. 20. Key Takeaways <ul><li>Is there ROI in Social Media </li></ul><ul><ul><li>Yes there is (Risk of Inaction / Return on Investment) </li></ul></ul><ul><li>Key is to define your business objective </li></ul><ul><li>For that objective, define metrics to benchmark </li></ul><ul><li>Social Media involves investment of time and money. </li></ul><ul><li>Social Media is evolutionary </li></ul><ul><ul><li>Initial ROI graph will be low, then it will scale up </li></ul></ul>
  21. 21. Listen
  22. 22. Questions? If you need a copy of this presentation, please leave your business card. We will email it to you. Hareesh Tibrewala Jt. CEO, Social Wavelength. [email_address] Company blog: blog.socialwavelength.com LinkedIn: linkedin.com/in/hareeshtibrewala

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