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Buzz 2010 presentation
 

Buzz 2010 presentation

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http://thebrandbuilder.wordpress.com 605
http://smartblogs.com 338
http://www.socialmediatools.ca 253
http://retailomania.blogspot.com 113
http://www.socialfish.org 72
http://retailomania.blogspot.in 22
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  • Thanks, guys.

    Jonathan, that's what my clients usually hire me to help them with. ;) Next time I am in Copenhagen, I will definitely look you up.

    Cheers.
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  • awesome - the key question how do you convert all that buzz into cash - could do with some detail on exactly HOW to do this i.e chaneling conversation into the sales funnel etc..apart from that you work seems to have taken me one step closer to being more competent so thank you so much.......if you're in Copenhagen ever please make contact.if wver I hear of any speaking opps i will recommend - therefore convertig your efforts into financial impact......
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    Buzz 2010 presentation Buzz 2010 presentation Presentation Transcript

    • Social Business Justification & R.O.I.
      olivieralainblanchard
      @thebrandbuilder
      Buzz 2010 Series
      Washington, DC
      18 August2010
      #buzz2010
    • What do I do?
      Training
      Social Media Program Integration
      for C-Suite executives,
      Managers and organizations.
      Consulting
      - Brand Mgmt.
      - Online Reputation Mgmt.
      - Social Web & New Media
      … and the blog.
      Advisory Board Shenanigans
    • First Rule: The tools are the tools. The tools are not the thing.
    • Second Rule: Associations + NFPs are not like most businesses
    • First things first: …
    • Having “a presence” in Social Media
      Is worthless unless you do something with it.
    • Your organizationdoesn’t plug into Social Media.
      Social Media plugs into your organization.
    • Second…
    • Ways in which Social Media can help a business:
      Sales
      Net New Customers, Increased Frequency of Transactions, promo exposure
      Increased yield (average $ value per transaction), and product penetration
      Customer Support
      Immediate feedback and response, positive impact in public forum, cost reduction
      Human Resources
      More effective recruiting, online monitoring of employee behavior (risk management)
      Public Relations
      Online Reputation Management, improved brand image via Social Web
      Customer Loyalty
      Increased interactions, better quality of interactions, deeper relationship with brand,
      Increased trust in brand, increased mindshare of brand, greater values alignment
      Business Intelligence
      Know Everything. (No, really.)
    • Ways in which Social Media can help an association:
      Outcomes
      Net New Members, Increased Frequency of Donationsand Volunteerism,
      Increased yield (average $ value per donation), added exposure
      MemberSupport
      Immediate feedback and response, positive impact in public forum, cost reduction,
      Increased interactions, more varied interactions, portable resources (mobile)
      Human Resources
      More effective recruiting, online monitoring of employee behavior (risk management)
      Public Relations
      Online Reputation Management, improved brand image via Social Web,
      Clarification of purpose & value, Direct communication with public
      MemberLoyalty
      Increased interactions, better quality of interactions, deeper relationship with cause,
      Increased trust in organization, increased mindshare of cause, greater values alignment
    • Brand Management: Momentum Drivers
      Awareness
      Do enough people know about us? Do enough people think about us?
      Context
      Do people think of us in the right way?
      Value
      Do people understand our value? What we offer?
      Relevance
      Do people appreciate our value to them?
      Catalysts
      Do people have a reason to think about us? To engage with us? To buy into us?
    • Leveraging Social Communications
      Social media is there to drive,
      amplify and reinforce all of these things:
      Awareness
      Context
      Value
      Relevance
      Interactions
      Transactions
    • Third: A note about vertical and lateral forces…
    • Vertical Engagement= Org + Individual
      Program/campaign-based, on-message, limited.
    • Lateral Engagement = individual+ individual
      This is how WOM and content really scale.
    • Fourth: Okay, now…
    • How do you rescue a fading brand?
    • What if this had nothing to do with Old Spice?
    • Facebook has over 500 MILLION users
      Twitter now has over 100 MILLIONregistered users.
      55,000,000 tweets per day.
      37% of users tweet from their phones.
      All talking to each other all day long.
    • But it doesn’t stop here.
    • What if this were your message?
    • What if this were your message?
      The principles are the same.
    • Brand Management: Momentum Drivers
      Awareness
      Do enough people know about us? Do enough people think about us?
      Context
      Do people think of us in the right way?
      Value
      Do people understand our value? What we offer?
      Relevance
      Do people appreciate our value to them?
      Catalysts
      Do people have a reason to think about us? To engage with us? To buy into us?
    • Catalyst: What you do.
    • Reaction: What they do.
      “We have to share this with friends.”
    • How can I leverage Social Media to impact x:
      Outcomes
      Net New Members, Increased Frequency of Donationsand Volunteerism,
      Increased yield (average $ value per donation), added exposure
      MemberSupport
      Immediate feedback and response, positive impact in public forum, cost reduction,
      Increased interactions, more varied interactions, portable resources (mobile)
      Human Resources
      More effective recruiting, online monitoring of employee behavior (risk management)
      Public Relations
      Online Reputation Management, improved brand image via Social Web,
      Clarification of purpose & value, Direct communication with public
      MemberLoyalty
      Increased interactions, better quality of interactions, deeper relationship with cause,
      Increased trust in organization, increased mindshare of cause, greater values alignment
    • But all of that is mostly talk.
      And talk doesn’t pay the bills
      or change much of anything.
    • Organizations need to raise money
      and/or get results.
      Talk needs to impact behavior.
    • NOTHING AN ORGANIZATION DOES IS FREE.
    • 1. Programs and campaigns take manpower.
    • 2. … and technology.
    • 3. And most importantly, time.
    • We have… rocks.
      … all of which are limited resources.
    • These resources
      =
      100%
      of your budget
      These resources
      generate
      100%
      of your outcomes
      E-Marketing
      Head Count
      Advertising
      I.T.
      Inbound Call Center
      Marketing
      Sales Dept.
      Accounting
      Public Relations
    • Understand that a new
      marketing program’s
      funding doesn’t appear
      out of thin air.:
      Which buckets do we empty
      to fill this new one?
    • Give me a good reason
      why I should assign resources
      to this thing.
      The dragonwants to know how this will help the org.
    • It all starts with one question:
      What are you trying to accomplish?
      Define the objective FIRST.
      THEN come up with the tactics.
    • Tactics don’t dictate the objective.
      You know…
      What this team really needs
      Is more WOM!
      NO
    • Objectives dictate tactics.
      I need 3 more touchdowns
      before half-time.
      What are my options?
      (How does WOM fit in?)
      YES
    • Question #1:
      Will it save me money?
      Maybe in member support?
      You mentioned something about
      media costs and CPI?
      Question #2:
      Will it generate more revenue?
      I want more volunteers,
      more net new members,
      more exposure,
      etc.
      Fact: Ultimately, the P&L drives business decisions.
    • Objectives should be specific.
      F.R.Y.
      FREQUENCY, REACH, YIELD
      Increase how often customers buy from us each month
      Increase the net number of transacting customers
      Increase average spend per transaction
      Etc.
    • The Association version:
      F.R.Y.
      FREQUENCY, REACH, YIELD
      Increase how often members give us each month/year
      Increase the net number of active members
      Increase average “give” per “transaction”
      Etc.
    • SAY HELLO TO:
      Business Justification
      R.O.I.
    • R.O.I.
      RETURN
      ON
      INVESTMENT
    • THE R.O.I. EQUATION
      Investment
      Expectation of return
    • THE R.O.I. EQUATION
      (GAIN FROM INVESTMENT - COST OF INVESTMENT)
      ROI =
      COST OF INVESTMENT
    • The Truth About R.O.I.
      ROI is a business metric,
      not a media metric.
      ROI is 100% media-agnostic.
      Only measuring digital or social won’t get you anywhere.
    • What if you aren’t “for profit?”
      You still depend on some kind of revenue to function:
      Grants, funding, donations, membership fees, etc.
      Same thing.
      Revenue is revenue. Budgets are budgets. Money is money.
    • I’m a Social Media guru.
      Love isn’t about ROI, baby.
      Forget your greedy ways.
      The Problem.
    • ROI is NOT:
      Return on Inspiration
      Return on Involvement
      Return on Innovation
      Return on Immersion
      Return on Imagination
      Return on Importance
      Return on Inbound
      Return on Imbecility
      Return on Ignorance
      Return on Incompetence
      ROI is:
      Return on Investment.
    • R.O.I. Confusion - A tale of operational silos
      Engagement
      R.O.I.
      Different Focus + Different perspective
    • Reason #1:
      COST REDUCTION
      (How can I do more
      with less?)
      Reason #2:
      REVENUE GENERATION
      (How can I make more
      of an impact?)
      So once again, to be clear. This is R.O.I.
    • Let’s get people
      Talking about us.
      Dudes, we are
      ON THIS!!!
      Let’s start engagin’!!!
      I’ll start crafting some
      wicked blog posts and
      online contests.
    • This rocks!
      I never had it so
      good!!!
    • Things happen in sequence.
    • Non-financial impact is not ROI (yet).
      Too many agencies only measure here.
    • Types of non-financial impact
      Customer complaints
      Website Visitors
      Impressions
      Positive press
      Click-throughs
      YouTube views
      Retweets
      Coupons distributed
      Visitors to a brick & mortar store
      Positive WOM
      Delivered emails
      Negative press
      Negative WOM
      Employment applications
      Blog comments
      FaceBook friends
      Social mention
      Twitter followers
    • Yeah but…
      What about
      the P&L?
      Monitoring to base…
      Monitoring to base…
      Our social mentions are wicked good!
      The YouTube videos are scaling well.
      Our blog even has comments!
      We have liftoff!
    • Nope.
      Anything?
      Nada.
      ACCOUNTING
      Six Months Later…
    • What kind of mood is
      The old man in today?
      Not good.
      He doesn’t care how many visitors
      the website gets, or how many
      eyeballs we estimate we’ve reached. How is it all helping grow the
      Biz yo?
    • Financial vs. Non-financial Impact
      Non-Financial
      Financial
      Are you converting this to this?
    • Or in your world…
      Way cool!
      Yeah. Sign us up.
      Oh cool!
      Weeeerd!
      Are you converting this to this?
    • What a Social Media win looks like:
    • What a Social Media win looks like:
      94,000 followers
      Velocity: 8K to 66K in only 2 days
      706,000 fans/likes
      … sharing videos with friends on their wall
      16,000,000 views
      Most response videos >200,000 views
      Facebook.com/oldspice
    • But will it “sell soap?”
    • (It already has.)
      Sales of body wash up 107% in the last month.
      (It’s a good start, but will it be enough to justify the campaign’s expense?)
    • Non-financial impact = potential.
    • ROI = actualized potential.
      Social Media Activity - Vertical/Lateral
      Ultimately, Social Media activity has to positively impact customer behaviors and drive revenue in order to deliver R.O.I.
    • This is not the end of the line for you:
      In your case (and unlike For Profit businesses,)R.O.I. is not where the narrative ends. R.O.I. is a means to an end.
      Main non-financial objective(s)
      Plant 3,000,000 new trees in the US
      Reduce teen pregnancy in Chicago by 3% this year
      Preserve historic neighborhoods in Baltimore
      Increase local recycling by 300 tons per year
      Send 300 cleanup volunteers to the Gulf for one week
      Attract Google Fiber to your city
    • This is not the end of the line for you:
      In your case (and unlike For Profit businesses,)R.O.I. is not where the narrative ends. R.O.I. is a means to an end.
      Main non-financial objective(s)
      Plant 3,000,000 new trees in the US
      Reduce teen pregnancy in Chicago by 3% this year
      Preserve historic neighborhoods in Baltimore
      Increase local recycling by 300 tons per year
      Send 300 cleanup volunteers to the Gulf for one week
      Attract Google Fiber to your city
      Enablement
    • Step 1: Establish a baseline
      8% YoY Growth
    • Step 2: Create Activity Timelines
    • Step 3: Monitor impact on conversations
      What are people talking about and where?
      Map topics, keywords, trends, links, etc.
    • Step 4: Measure transactional precursors
    • Measuring transactional precursors
    • Measuring transactional precursors
      Office?
      Museum?
      Kiosk?
    • If you can, also look at # of transactions
    • If you can, also look at # of transactions
      Sales?
      Donations?
      Other?
    • Also measure net new customers
      NNC is a measure of effective reach,
      not just media reach.
    • Also measure net new customers
      Net new members
      NNC is a measure of effective reach,
      not just media reach.
    • Transaction data should be specific
      F.R.Y.
      FREQUENCY, REACH, YIELD
      How often customers transact. (transactions per month)
      How many customers you are reaching. (net new customers)
      How much they spend. ($ per transaction)
    • The Association version:
      F.R.Y.
      FREQUENCY, REACH, YIELD
      Increase how often members give us each month/year
      Increase the net number of active members
      Increase average “give” per “transaction”
      Etc.
    • Step 5: Finally, look at Sales Revenue
    • Step 5: Finally, look at Revenue
      Memberships?
      Donations & Grants?
      Sales?
    • Step 6: Overlay your data onto a timeline
      activities
      social data
      web data
      transactions
      loyalty metrics
      etc.
    • Step 7: Look for patterns
      Impact
      Uncertain Impact
      Impact
      Impact
      No Impact
      Before
      After
    • Step 8: Prove & disprove relationships
      How was this group
      Touched by SM or WOM?
      (And how was it not?)
      Before
      After
    • Finally, someone with some
      real metrics for me to sink my teeth into!
      Good job, Sparky! You done gewd!
      Make the case for Social Media’s value.
    • R.O.I. Case Study Brief: Association Launch
      Problem:A new triathlon club with virtually no funding or resources wanted to grow large enough to start sponsoring and organizing events to promote the sport in its area.
      Advertising was too expensive and local media weren’t targeted enough.
      Solution: - Club officers leveraged personal networks to increase reach, and digital channels to share
      content.
      - Schedules, newsletters, photos, videos and other
      content was packaged to be sharable online.
      - Identified and exploited mid-level influencers,
      evangelists, volunteers and socially-motivated members.
      Result: Day 1 - 5 founding members
      Day 30 - 48 members
      Day 75 - 179 members
      Day 120 - 291 members
    • R.O.I. Case Study Brief: Association Launch
      Result: Starting budget – $120.
      Membership $ - $25 apiece
       291 x $25 = $7,275
      Corporate Sponsorships for first year:
       3 sponsors = $12,000
      Within 4 months, the organization had generated
      almost $20,000 in revenue/funding.
      The club invested this funding into events/races, custom club/team uniforms, T-shirts, car decals
      and other swag. We upgraded the website.
      Phase 2: The club launched a series of youth triathlons to benefit various charities and research.
      Participation soared. (We raised A LOT of money.)
      A state Triathlon series was launched within the year.
    • R.O.I. Case Study Brief: Association Launch
      We did this without Facebook, Twitter, MySpace, SMS or blogs.
    • R.O.I. Case Study Brief: Association Launch
      Social Media tools didn’t exist yet
      but the principles behind “Social” did.
    • R.O.I. Case Study Brief: Association Launch
      We leveraged our social networks,
      developed them with purpose,
      engaged, recruited, promoted
      and leveraged the ultimate app:
      …?
    • R.O.I. Case Study Brief: Association Launch
      We leveraged our social networks,
      developed them with purpose,
      engaged, recruited, promoted
      and leveraged the ultimate app:
      People.
    • R.O.I. Case Study Brief: Association Launch
      We leveraged our social networks,
      developed them with purpose,
      engaged, recruited, promoted
      and leveraged the ultimate app:
      People.
      (They come fully loaded.)
    • R.O.I. Case Study Brief: Association Launch
      We were successful
      in great part due to this:
    • R.O.I. Case Study Brief: Association Launch
      We were successful
      in great part due to this:
      1. We had clear objectives.
    • R.O.I. Case Study Brief: Association Launch
      We were successful
      in great part due to this:
      We had clear objectives.
      We understood this:
    • R.O.I. Case Study Brief: Association Launch
      We were successful
      in great part due to this:
      We had clear objectives.
      (We understood...)
      Our activities supported our objectives.
    • R.O.I. Case Study Brief: Association Launch
      We were successful
      in great part due to this:
      We had clear objectives.
      Some were not financial. Others were.
      Our activities supported our objectives.
      We measured success in terms of outcomes:
      - Financial
      - Non-financial
    • R.O.I. Case Study Brief: Association Launch
      We were successful
      in great part due to this:
      We had clear objectives.
      Some were not financial. Others were.
      Our activities drove to our objectives.
      We measured success in terms of outcomes:
      - Financial
      - Non-financial
      5. Without revenue, we were cooked.
    • Drinks for
      Everybody!
    • http://smROI.net
      Ask away.
      Olivier Blanchard
      864.630.7398
      www.thebrandbuildermarketing.com
      @thebrandbuilder(on Twitter)
    • And now, an exercise…
    • And now, an exercise…
      Write down your organization’s
      reason for being: …
    • 2. Write down your principal objective.
      What is the most important thing you want to accomplish. (Not financial)
    • 2. … Now quantify this.
      Give it a value. (Not $.)
      Make it a specific target.
    • 3. Now give me two more.
    • 3. … Again, express them in terms of a specific value: Members, birds rescued, etc.
    • 4. Now write down your 3 top financial objectives.
    • 5. Write down how each financial objective plugs into your three main overall objectives.
    • R.O.I. = maximizing enablement
      In your case (and unlike For Profit businesses,)R.O.I. is not where the narrative ends. R.O.I. is a means to an end.
      Main non-financial objective(s)
      Plant 3,000,000 new trees in the US
      Reduce teen pregnancy in Chicago by 3% this year
      Preserve historic neighborhoods in Baltimore
      Increase local recycling by 300 tons per year
      Send 300 cleanup volunteers to the Gulf for one week
      Attract Google Fiber to your city
      Enablement
    • How will you measure success every step of the way?
    • Measuring success: Defining metrics early
      A leads to B leads to C leads to D...
      ?
      ?
      ?
      ?
      ?
      Non-financial objective
      ?
    • Measuring success: Defining metrics early
      ?
      ?
      ?
      ?
      ?
      Non-financial objective
      Start here.
      ?
      Define Metric/value.
      What is my target?
      How much $ do I need to do this?
    • Measuring success: Defining metrics early
      Now move here.
      My $ target is $x.
      Where do I measure changes in $x?
      What behaviors leads to this?
      ?
      ?
      ?
      ?
      ?
      Non-financial objective
      ?
    • Measuring success: Defining metrics early
      Now move here.
      My targetsare X, Y and Z.
      My metrics are M, N and O.
      My channels are P, Q, R and S
      What behaviors drive these targets?
      ?
      ?
      ?
      ?
      ?
      Non-financial objective
      ?
    • Not here.
      Measure here…
      Plan first. Map out the route.
      Identify relevant metrics every step of the way.
    • Your metrics
      Now start from the beginning. 1. Baseline. 2. Timeline…
      You planned from outcome to catalyst.
      Now measure from catalyst to outcome.
      R.O.I. = financial metrics within this process.
    • Q: What is the 2012 objective?
    • (Not 5,000,000 fans on Twitter)
    • A: Re-election.
    • Main non-financial objective(s)
      Get elected in 2012
    • Q: What is my most important resource?
    • A: Campaign funding. (It enables everything.*)
      * Understand your business and its mechanics. If you don’t, you are flying blind.
    • Main non-financial objective(s)
    • Q: How does Social Media fit in?
    • A: Above all else, it yields campaign contributions.
    • A: How it yields campaign contributions.
      Directly through vertical engagement
      Indirectly, through lateral engagement (WOM + peer influence)
    • Main non-financial objective(s)
    • Let’s plug-in F.R.Y., just for fun.
    • Can we increase the frequency of contributions?
    • Note: Most Obama For America online supporters gave little, but they gave often. Frequency was a key factor in the O4A strategy.
    • Can we increase the frequency of contributions?
      YES.
      Increase frequency of interactions
      Ask more often
      Update swag more often
      Repeat message more often
      Engage more often
      SM is more cost effective than paid media
    • To specifically drive
      Main non-financial objective(s)
    • Can we increase our reach?
    • Second largest search engine in the world, only to Google
       Millions of people are content publishers now.
      Facebook has over 500 MILLION users
      Twitter now has over 100 MILLIONregistered users.
      55,000,000 tweets per day.
      37% of users tweet from their phones.
      Don’t forget…
      All talking to each other all day long.
    • Can we increase our reach?
      YES.
      Seed and grow our channels
      Help our supporters share content
      Ask our fans to share content
      Arm our fans with tools
      Make our reach strategy clear
      Vertical + Lateral engagement
    • To specifically drive
      Main non-financial objective(s)
    • Can we increase our Yield?
    • Can we increase our Yield?
      YEP!
      Foster depth of engagement
      Develop and build loyalty
      Increase involvement of fans
      Understand the value of timing
      Build clarity of purpose
      Ask when we need to ask
    • To specifically drive
      Main non-financial objective(s)
    • Because the objectives dictate the tactics...
    • … the objectives also dictate the metrics.
    • The metrics are the vital signs of your program.
    • Every measurement you take has its place and tells its part of the story.
    • 2
      Ignore here.
      1
      Start here…
      4
      3
      5
      Connect the dots.
    • R.O.I. is a crucial link in the measurement chain.
    • I’m a Social Media guru.
      Behold my army of followers.
      My personal brand is golden.
      Only measure
      followers, fans, visitors,
      downloads, click-throughs,
      mentions and web stats.
      That’s Social Media
      measurement, baby!
      Dig it.
      And please, no more of this.
    • http://smROI.net
      Ask away.
      Olivier Blanchard
      864.630.7398
      www.thebrandbuildermarketing.com
      @thebrandbuilder(on Twitter)