Monetising Social MediaA case study in measuring the value of social media marketing onlineAshley FriedleinCEOE-consultanc...
“The future of the social web”<br />“Harnessing Social Media for B2B and B2C marketing campaigns”<br />“How UK Government ...
What is ‘Social Media’?<br />Blogs<br />Discussion Boards & Communities<br />Product review sites<br />Media-sharing<br />...
“Internet-based <br />tools and venues where anyone can communicate publicly”<br />4<br />
5<br />
Universal McCann Social Media Study<br />6<br />
Great for PR<br />BUT…<br />7<br />
Q:How did the YouTube clip help generate pledges?<br />A: “…it&apos;s not a top referring site … in terms of pledges and u...
9<br />
Jerry Maguire, 1996<br />10<br />
11<br />
How do we make money?<br />Advertising<br />Average £20 per thousand page views / 2 ads per page / 3 pages views per visit...
Average Total <br />Value / Visit<br />=<br />62p<br />13<br />
(but some visits are more valuable than others)<br />14<br />
Direct Traffic<br />Indirect Traffic<br />(aka Google)<br />15<br />
Top Referring Domains<br />16<br />
7,000 visits a day from Google<br />= £4,340 a day…<br />17<br />
18<br />
How many more direct visits can we get?<br />Can we get more Google love?<br />from ‘social media marketing’<br />19<br />
Question 1<br />Should we engage with sites that deliver VOLUME (REACH) or INFLUENCE?<br />20<br />
Answer 1<br />Both…<br />VOLUME = VOLUME<br />INFLUENCE = SEO = VOLUME<br />21<br />
Question 2<br />So which sites would deliver volume (and the right prospective customers)<br />And which (SEO) influence?<...
Answer 2<br />INFLUENCE<br />VOLUME / REACH<br />23<br />
Lots of sites…<br />24<br />
Prioritised + How to approach<br />25<br />
Go engage!<br />26<br />
Links via <br />Online PR<br />27<br />
BBC Internet Blog<br />28<br />
Multilingual Search Community<br />29<br />
BazaarVoice Blog<br />30<br />
Internetworldstats.com<br />31<br />
Facebook<br />32<br />
Links via <br />Answering <br />Questions<br />33<br />
Yahoo! Answers<br />34<br />
LinkedIn Answers<br />35<br />
WikiAnswers<br />36<br />
Wikipedia<br />37<br />
Links via <br />Profiles / ‘Channels’<br />38<br />
YouTube Channel<br />39<br />
Twitter Channel<br />40<br />
Slideshare Channel<br />41<br />
42<br />
Dailymotion<br />43<br />
Veoh<br />44<br />
Links via <br />Bookmarking / Tagging<br />45<br />
Digg<br />46<br />
Del.icio.us<br />47<br />
Was it <br />worth<br />it?<br />48<br />
Scores on the doors…<br />49<br />
Cost<br />Search Agency<br />£3,000<br />Data / Tools<br />Free (-ish)<br />Internal Time<br />5 days worth of time<br />C...
Referred visits in last 6 weeks<br />Stumbleupon<br />1,369<br />LinkedIn<br />669<br />Wikepedia<br />547<br />Del.icio.u...
Views =  1,746<br />5<br />No. referred visits =  <br />
No. referred visits = 77<br />
Total no. ‘social media’ referred visits =<br />18,000 <br />54<br />
Value =<br />18,000 X 62p =<br />£11.16k…<br />55<br />
56<br />
SEO impact?<br />57<br />
Google Natural Search Referrals<br />58<br />
Total no. incremental visits  for SEO improvement =<br />72,000 <br />59<br />
Value =<br />72,000 X 62p =<br />£44.64k…<br />60<br />
61<br />
ROI =<br />(£11.16K + £44.64k) / £10k =558%<br />62<br />
BUT…<br />(there’s always a but)<br />63<br />
How many of these links came from this campaign?<br />64<br />
Do we really know the Google improvements came about from this campaign?<br />65<br />
(but some visits are more valuable than others)<br />less<br />66<br />
We assumed <br />Average commerce value per visit = 50p<br />67<br />
So how much did we actually sell?<br />68<br />
£112k sold online in the period<br />69<br />
‘Social media’ referred sales…<br />£2.4k<br />(2.1% of sales)<br />70<br />
And EVERY SINGLE ONE of those... <br />ALSO searched Google on us before buying<br />71<br />
Other Benefits<br />Built PR contacts db<br />Found high-performing new affiliates<br />Found new partners (e.g. for contr...
Other Benefits<br />Built influence / credibility<br />
Conclusion<br />Worth it but <br />Quite a bit of work <br />Value in tangential areas<br />Good-ish for traffic; less goo...
75<br />
Questions?E-consultancy Resources:<br />Online Measurement and Strategy Report 2008 (with Lynchpin)<br />http://www.e-cons...
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Econsultancy Social Media Monetisation Case Study 1212418744419594 8

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Econsultancy Social Media Monetisation Case Study 1212418744419594 8

  1. 1. Monetising Social MediaA case study in measuring the value of social media marketing onlineAshley FriedleinCEOE-consultancy.com<br />
  2. 2. “The future of the social web”<br />“Harnessing Social Media for B2B and B2C marketing campaigns”<br />“How UK Government approaches <br />the web and social media”<br />“The impact and ROI of social retail”<br />“Social and Professional Networking how marketers and users navigate in the Web 2.0 world”<br />2<br />
  3. 3. What is ‘Social Media’?<br />Blogs<br />Discussion Boards & Communities<br />Product review sites<br />Media-sharing<br />Social Networking<br />Bookmarking / tagging<br />‘Social commerce’, ‘social news’ etc….<br />
  4. 4. “Internet-based <br />tools and venues where anyone can communicate publicly”<br />4<br />
  5. 5. 5<br />
  6. 6. Universal McCann Social Media Study<br />6<br />
  7. 7. Great for PR<br />BUT…<br />7<br />
  8. 8. Q:How did the YouTube clip help generate pledges?<br />A: “…it&apos;s not a top referring site … in terms of pledges and uptake of products, we&apos;re not seeing that come through.”<br />Rob Merrington, Head of Brand Advertising, EDF Energy<br />Q: Has Second Life worked for you?<br />A: “It’s a lot more hype than reality.”<br />Chris Shimojima, VP, Nike.om<br />8<br />
  9. 9. 9<br />
  10. 10. Jerry Maguire, 1996<br />10<br />
  11. 11. 11<br />
  12. 12. How do we make money?<br />Advertising<br />Average £20 per thousand page views / 2 ads per page / 3 pages views per visit<br />Average advertising value per visit = 12p<br />Commerce (Subscriptions, Memberships, Events, Training etc.)<br />Conversion rate = 0.25%<br />Average order value = £200<br />Average commerce value per visit = 50p<br />
  13. 13. Average Total <br />Value / Visit<br />=<br />62p<br />13<br />
  14. 14. (but some visits are more valuable than others)<br />14<br />
  15. 15. Direct Traffic<br />Indirect Traffic<br />(aka Google)<br />15<br />
  16. 16. Top Referring Domains<br />16<br />
  17. 17. 7,000 visits a day from Google<br />= £4,340 a day…<br />17<br />
  18. 18. 18<br />
  19. 19. How many more direct visits can we get?<br />Can we get more Google love?<br />from ‘social media marketing’<br />19<br />
  20. 20. Question 1<br />Should we engage with sites that deliver VOLUME (REACH) or INFLUENCE?<br />20<br />
  21. 21. Answer 1<br />Both…<br />VOLUME = VOLUME<br />INFLUENCE = SEO = VOLUME<br />21<br />
  22. 22. Question 2<br />So which sites would deliver volume (and the right prospective customers)<br />And which (SEO) influence?<br />22<br />
  23. 23. Answer 2<br />INFLUENCE<br />VOLUME / REACH<br />23<br />
  24. 24. Lots of sites…<br />24<br />
  25. 25. Prioritised + How to approach<br />25<br />
  26. 26. Go engage!<br />26<br />
  27. 27. Links via <br />Online PR<br />27<br />
  28. 28. BBC Internet Blog<br />28<br />
  29. 29. Multilingual Search Community<br />29<br />
  30. 30. BazaarVoice Blog<br />30<br />
  31. 31. Internetworldstats.com<br />31<br />
  32. 32. Facebook<br />32<br />
  33. 33. Links via <br />Answering <br />Questions<br />33<br />
  34. 34. Yahoo! Answers<br />34<br />
  35. 35. LinkedIn Answers<br />35<br />
  36. 36. WikiAnswers<br />36<br />
  37. 37. Wikipedia<br />37<br />
  38. 38. Links via <br />Profiles / ‘Channels’<br />38<br />
  39. 39. YouTube Channel<br />39<br />
  40. 40. Twitter Channel<br />40<br />
  41. 41. Slideshare Channel<br />41<br />
  42. 42. 42<br />
  43. 43. Dailymotion<br />43<br />
  44. 44. Veoh<br />44<br />
  45. 45. Links via <br />Bookmarking / Tagging<br />45<br />
  46. 46. Digg<br />46<br />
  47. 47. Del.icio.us<br />47<br />
  48. 48. Was it <br />worth<br />it?<br />48<br />
  49. 49. Scores on the doors…<br />49<br />
  50. 50. Cost<br />Search Agency<br />£3,000<br />Data / Tools<br />Free (-ish)<br />Internal Time<br />5 days worth of time<br />Call it £10,000<br />
  51. 51. Referred visits in last 6 weeks<br />Stumbleupon<br />1,369<br />LinkedIn<br />669<br />Wikepedia<br />547<br />Del.icio.us<br />276<br />Twitter<br />106<br />
  52. 52. Views = 1,746<br />5<br />No. referred visits = <br />
  53. 53. No. referred visits = 77<br />
  54. 54. Total no. ‘social media’ referred visits =<br />18,000 <br />54<br />
  55. 55. Value =<br />18,000 X 62p =<br />£11.16k…<br />55<br />
  56. 56. 56<br />
  57. 57. SEO impact?<br />57<br />
  58. 58. Google Natural Search Referrals<br />58<br />
  59. 59. Total no. incremental visits for SEO improvement =<br />72,000 <br />59<br />
  60. 60. Value =<br />72,000 X 62p =<br />£44.64k…<br />60<br />
  61. 61. 61<br />
  62. 62. ROI =<br />(£11.16K + £44.64k) / £10k =558%<br />62<br />
  63. 63. BUT…<br />(there’s always a but)<br />63<br />
  64. 64. How many of these links came from this campaign?<br />64<br />
  65. 65. Do we really know the Google improvements came about from this campaign?<br />65<br />
  66. 66. (but some visits are more valuable than others)<br />less<br />66<br />
  67. 67. We assumed <br />Average commerce value per visit = 50p<br />67<br />
  68. 68. So how much did we actually sell?<br />68<br />
  69. 69. £112k sold online in the period<br />69<br />
  70. 70. ‘Social media’ referred sales…<br />£2.4k<br />(2.1% of sales)<br />70<br />
  71. 71. And EVERY SINGLE ONE of those... <br />ALSO searched Google on us before buying<br />71<br />
  72. 72. Other Benefits<br />Built PR contacts db<br />Found high-performing new affiliates<br />Found new partners (e.g. for contras, co-registration etc.)<br />
  73. 73. Other Benefits<br />Built influence / credibility<br />
  74. 74. Conclusion<br />Worth it but <br />Quite a bit of work <br />Value in tangential areas<br />Good-ish for traffic; less good for sales<br />Indirect traffic via search bigger than direct traffic (and higher value)<br />But mostly…<br />
  75. 75. 75<br />
  76. 76. Questions?E-consultancy Resources:<br />Online Measurement and Strategy Report 2008 (with Lynchpin)<br />http://www.e-consultancy.com/publications/online-measurement-and-strategy-report-2008/<br />Web Analytics Buyer’s Guide<br />http://www.e-consultancy.com/publications/web-analytics-buyers-guide-2007/<br />Web Analytics Request for Proposal Template<br />http://www.e-consultancy.com/publications/web-analytics-rfp-request-for-proposal/<br />Web Analytics Business Case<br />http://www.e-consultancy.com/publications/web-analytics-business-case<br />Measurement, Analytics and Optimisation Briefing<br />http://www.e-consultancy.com/publications/analytics-measurement-optimisation-briefing-march-2008/<br />

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