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The Greatest Question Since the Meaning of Life: What is the ROI of Social Media


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Prior to the Web, companies controlled the engagement with their prospects and customers through information. With the advent of the Social Web and introduction of social media, we are no longer in control of the selling process or influencing the buyer. The people are in control. Today, companies must recognize the paradigm shift in the public relations and marketing landscape as Web 2.0 has fundamentally changed the way we connect, communicate and influence our customers, partners, press, analysts, and other industry influencers. In this presentation titled: The Greatest Question Since the Meaning of Life – What is ROI of Social Media?, C. Edward Brice, SVP of Worldwide Marketing for Lumension, will provide real world insight into the following:
• The evolving marketing and PR landscape
• Why marketing MUST use social media
• Lumension’s story
• Key learnings
• Dos and Don’ts

Published in: Technology, Business
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The Greatest Question Since the Meaning of Life: What is the ROI of Social Media

  1. The Greatest Question Since the Meaning of Life: What is the ROI of Social Media?<br />
  2. Name: C. Edward Brice<br />Age: Over 40<br />Use Social Media: Yes<br />
  3. I am NOT a<br /> Social Media Expert<br />
  4. Social Media<br />
  5. Or Has Social Media Jumped the Shark?<br />Ashton Kutcher posts shot of Demi on Twitter<br />
  6. What is Social Media?<br />
  7. “Social media is like teen sex. Everyone wants to do it. Nobody knows how. When it’s finally done there is a surprise that it’s not better.” <br /> - AvonashKaushik – Analytics Evangelist, Google<br />
  8. Social Media<br />
  9. Social Media is as Old as The Hills<br />George The Medieval Blacksmith<br />
  10. FRICTION<br />
  11. Internet<br />FRICTIONLESS<br />
  12. Social Media is Frictionless Conversation in a Connected Environment <br />
  13. Conversation Desired Traits:<br />Honesty<br />Openness<br />Engaging<br />Interesting<br />Relevant<br />Listening<br />
  14. Why Marketers MUSTUtilize Social Media<br />
  15. The traditional marketing model is being challenged, and (CMOs) can foresee a day when it will no longer work.-McKinsey Quarterly<br />FUTURELAB<br />
  16. Future of Media: Digital & Universally Accessible<br />Global<br />Mobile<br />TV / Offline<br />The Cloud<br />Anytime - Any Place - Any Tools- Millions of Channels<br />FUTURELAB<br />
  17. 14,463,346 auctions<br />200,000,000 blogs<br /> 21 Nov 2006<br />Almost 4,000,000 articles<br />(10 languages)<br />&gt;100,000,000 videos<br />(65,000/day)<br />1.5 million residents<br />“The workers should appropriate the means of production”<br />33,347,000 profiles<br />FUTURELAB<br />
  18. (cc) Lynette Webb, 2006<br />FUTURELAB<br />
  19. Monitoring & Measuring Social Media-Agent Wildfire 2009<br />
  20. 76%<br />...of consumers don’t believe that companies tell the truth in advertisements -Yankelowich<br />FUTURELAB<br />
  22. B2B Purchase Influences<br />Source Enquiro Inc 2008<br />
  23. Harvard Business Review<br />When forming an opinion of a company, how credible would the information be from …<br /><ul><li>7% increase in word of mouth unlocks 1% additional company growth
  24. 2% reduction in negative word of mouth boosts sales growth by 1%
  25. For the average company,1% increase in word of mouth advocacy equated to $16M extra sales </li></ul>A person like yourself or a peer<br />
  26. RADIO, TV, PRINT, EVENTS, ARE NICE, YET IN MY REALITY<br />MY ECOSYSTEM IS THE BRAND<br />The words they write, speak, film<br />The Stories They Tell<br />Consumersare beginning in a very real sense to ownour brands and participate in theircreation… Weneed to begin to learn to let go.<br />- A.G. Lafley, CEO and Chairman of P&G<br />FUTURELAB<br />
  27. “Businesses that don&apos;t implement Web 2.0 tools will stay behind” <br />DarkoHerlick, Gartner VP and CIO<br />
  28. “There is only one thing in the world worse than being talked about, and that is not being talked about.”..Oscar Wilde<br />
  29. ROI of Social Media<br />
  30. THE BIG<br />BANG<br />Social <br />Media<br />Traditional<br />ROI<br />
  31. “What do you want to measure – <br />the “social” or the “media”? <br />- David Alston of Radian6 <br />
  32. Media<br />Social<br /> Objectives:<br /><ul><li>Reach
  33. Awareness
  34. Coverage
  35. Continuity</li></ul> Measures:<br /><ul><li> # of visitors
  36. # of page views
  37. Time on site
  38. Conversions
  39. Leads/Subscriptions/Sponsorships</li></ul>Objectives:<br /><ul><li>Loyalty
  40. Advocacy
  41. Trust
  42. Influence
  43. Engagement</li></ul>Measures:<br /><ul><li> Sentiment
  45. Feedback
  46. Mentions
  47. Readership</li></ul>Business Value<br />Increase In Revenue<br />Decrease In Costs<br />
  48. Monitoring & Measuring Social Media-Agent Wildfire 2009<br />
  49. Warning, Warning.<br />Sales & Leads are Nice<br /> But They Are NOT The Objectives<br />
  50. Social Media is Conversational<br />Conversations are NOT About ROI<br />
  51. Conversations are About VALUE<br />
  52. Ed’s Social Media Value Goals<br />Awareness<br />Engagement<br />Listening<br />Innovation<br />Brand<br />SEO<br />Thought Leadership<br />Advocacy<br />Influence<br />Evangelism<br />Sentiment<br />Service<br />Insight<br />Ideation<br />Feedback<br />Collaboration<br />
  53. Ed’s Social Media Value Goals<br />Innovation<br />Listening<br />Value Created<br />Engagement<br />Awareness<br />Time<br />
  54. Ed’s Social Media Value Goals<br />Awareness<br />Engagement<br />Listening<br />Innovation<br />Brand<br />SEO<br />Thought Leadership<br />Advocacy<br />Influence<br />Evangelism<br />Sentiment<br />Service<br />Insight<br />Ideation<br />Feedback<br />Collaboration<br />Evangelism<br />Success KPIs<br />Page views Replies Suggestions <br />Comments Inbound Links Complaints<br />Friends Press mentions Traffic<br />Followers Referrals Embedded content<br />Registrations Posts Syndication<br />
  55. Awareness<br />2009 Social Media ROI-Egg Co.<br />
  56. Engagement<br />Goals: <br /><ul><li> Share information about company & products
  57. Start a dialogue between </li></ul> company and customers <br />KPI : <br /><ul><li> # of customer comments</li></ul>Results:<br /><ul><li> 100 people commenting on </li></ul> the blog each month<br /><ul><li> Equivalent to gaining </li></ul> customer insight from a focus<br /> group<br />Forrester 2009<br />Value: Equivalent to running a focus group every month at the cost of $15,000 a month, or $180,000 a year.<br />
  58. Innovation<br />2009 Social Media ROI-Egg Co.<br />
  59. Our Story<br />
  60. Lumension’s History<br />Acquired: July ‘07<br />Acquired: Feb ‘07<br />Acquired: April ‘09<br />Founded in 1991<br />Established: Sept ‘07<br />Market-leading patch management<br />First cross-platform and application patch management solution<br />Enterprise-class vulnerability management<br />First credentialed based vulnerability scanner<br />Market-leading device and application control<br />First to introduce whitelisting / patented file “shadowing” technology<br />Compliance and Risk Management.<br />Delivering predefined compliance and control frameworks<br />
  61. Twitter<br />YouTube<br />Community<br />iTunes<br />Blog<br />Facebook<br />
  62. Our Social Value Matrix<br />
  63. Lumension’s Optimal Security Blog<br />Objectives: <br /><ul><li>Improve SEO
  64. Garner more press coverage
  65. Drive thought leadership
  66. Launched Q4 ‘08</li></li></ul><li>Direct Blog Impact on Press<br />
  67. Lumension YouTube Channel<br />Objectives: <br /><ul><li>Increase awareness
  68. Improve SEO
  69. Drive thought leadership
  70. Syndicate our rich media
  71. Position thought leaders</li></li></ul><li>Lumension YouTube Channel<br /><ul><li>Launched June 2008
  72. Video Views - 16,132
  73. Branded Channel Views - 5,840
  74. Subscribers - 46
  75. Favorites Lists - 8
  76. Syndicated – over 60</li></li></ul><li>
  77. Lumension Connect Customer Community<br />Objectives: <br /><ul><li>Garner more insight from customers
  78. Connect
  79. Collaborate
  80. Share best practices
  81. Co-innovate</li></li></ul><li>Community<br /><ul><li>Launched July 30th (select invitations)
  82. Visitor Commitment</li></ul>8.57 pages avg. per visit<br />11.24% of visitors viewed more than 20 pages<br />8:50 avg. time on site<br />24.5% bounce rate<br />~8 visits per day<br />Content Garden<br />
  83. Launched:Q3 08<br />Following: 1100<br />Followers:803<br />
  84. Twitter Reach<br />Total Impression opportunity: 2250M<br />Value/impression:$.10<br />Value:$225,000<br />Cost to Lumension: $0<br />
  85. Listening: The Good<br />
  86. Integrated Syndicated Approach<br />PR Web<br />Blog<br />Agency<br />Hot Topics<br />Twitter<br />
  87. Key Lessons Learned<br />
  88. Decide if You Want To Have a Conversation<br />
  89. Understand Your Personas<br />LISA <br />AUDIT MANAGER<br />BIG REGULATED, INC.<br />JACK <br />DIR/MNGR INFO SEC<br />Big REGULATED, INC.<br />CHUCK<br />CISO/VP INFO SEC<br />BIG REGULATED, INC.<br />Reads industry blogs<br />Member of online professional community<br />Socially Facebooks<br />Active Blogger<br />Active Twitterer<br />Member of online professional community Engaged in online forums<br />Socially Facebooks<br />Reads industry publications & business press<br />Attends industry events<br />Facebooks to keep in touch with Grandchildren<br />
  90. Content is King<br />
  91. Think Like a Publisher<br />
  92. Don’t Forget about Your Website<br />
  93. Social Media Doesn’t Scale…<br />It’s a Commitment<br />
  94. Thank You<br />Blog: <br />Follow:<br />Connect:<br />Bookmark:<br />Friends:<br />