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Show me the Money - Proving success in social media

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Show me the Money - Proving success in social media

  1. 1. Proving success in social media Philip Buxton, head of marketing, iCrossing UK <ul><li>SHOW ME THE MONEY </li></ul>
  2. 2. AGENDA <ul><li>PROVING SUCCESS IN SOCIAL MEDIA </li></ul><ul><li>Context </li></ul><ul><ul><li>The curse of the last click </li></ul></ul><ul><li>Due diligence </li></ul><ul><ul><li>STOP analysis </li></ul></ul><ul><ul><li>Engagement framework </li></ul></ul><ul><ul><li>Measurement models </li></ul></ul><ul><li>Defining success </li></ul><ul><ul><li>Proving the case </li></ul></ul>
  3. 3. CONTEXT <ul><li>INVESTMENT HAS FOLLOWED ATTRIBUTABLE SALES </li></ul><ul><li>Disproportionate spend on paid search </li></ul><ul><li>Money follows demonstrable ROI, rather than ‘real’ returns. </li></ul><ul><li>An entire industry built around ‘the last click’ </li></ul>
  4. 4. CONTEXT <ul><li>WE KNOW DIGITAL JOURNEYS ARE MORE COMPLEX </li></ul><ul><li>New tools are allowing us to see the real worth of digital channels </li></ul><ul><li>But data should only help us build stories of user behaviour </li></ul><ul><li>What about offline experiences? </li></ul>
  5. 5. <ul><li>“ MARKETING IS NOT A FUNCTION, IT IS THE WHOLE BUSINESS SEEN FROM THE CUSTOMER'S POINT OF VIEW.” </li></ul><ul><li>Philip Kotler </li></ul>(SOURCE: Flickr.com/Matt McGee)
  6. 6. <ul><li>SOCIAL MEDIA ARE MAINSTREAM </li></ul><ul><li>They are how your customers do and will view brands </li></ul>
  7. 7. CONTEXT <ul><li>‘ HOW MUCH SHOULD I SPEND ON SOCIAL MEDIA?’ </li></ul><ul><li>We shouldn’t seek to apply financial measures to non-financial behaviours (Forrester) </li></ul><ul><li>‘ What’s the least I should do?’ </li></ul><ul><li>Due diligence – become literate, have a strategy </li></ul>
  8. 8. DUE DILIGENCE <ul><li>ICROSSING’S 3 TOOLS FOR SOCIAL MEDIA STRATEGY </li></ul><ul><li>STOP Analysis </li></ul><ul><li>Engagement framework </li></ul><ul><li>Measurement models </li></ul>
  9. 9. DUE DILIGENCE <ul><li>STOP analysis </li></ul><ul><li>Strategic – how does the social web affect my marketing strategy? In a world where information and experience is ‘networked’ how can we market ourselves? </li></ul><ul><li>Tactical – how should my marketing campaigns/customer service be different in the short-term now that these new platforms exist and are dominant? </li></ul><ul><li>Organisational – social media cuts through departments. How might we organise ourselves better? What platforms do we need to build and who should own them? </li></ul><ul><li>Personal – I and all those around me need to know the rules of engagement in social media so we can act appropriately and with confidence. What rules should we set? </li></ul>
  10. 10. DUE DILIGENCE <ul><li>ENGAGEMENT FRAMEWORK </li></ul>
  11. 11. DUE DILIGENCE <ul><li>MODELS OF SOCIAL MEDIA MEASUREMENT </li></ul><ul><li>Forrester </li></ul><ul><ul><li>Advises against assigning financial values to non-financial metrics: </li></ul></ul><ul><ul><ul><li>Fails to measure true business value </li></ul></ul></ul><ul><ul><ul><li>Gets in the way of achieving objectives </li></ul></ul></ul><ul><ul><ul><li>Can attribute success to the wrong channels </li></ul></ul></ul><ul><ul><li>Is for a “balanced social media marketing scorecard”: </li></ul></ul><ul><ul><ul><li>Financial – revenue or profit increases or costs decreases </li></ul></ul></ul><ul><ul><ul><li>Digital – enhancement of own or earned digital assets </li></ul></ul></ul><ul><ul><ul><li>Brand – positive changes in consumer attitudes to the brand </li></ul></ul></ul><ul><ul><ul><li>Risk management – improvements in preparation to note and respond to attacks or problems that affect reputation </li></ul></ul></ul><ul><ul><li>Aligns measurement to corporate objectives, enhancing strategic development and satisfying as many stakeholders as possible </li></ul></ul>
  12. 12. DUE DILIGENCE <ul><li>MODELS OF SOCIAL MEDIA MEASUREMENT </li></ul><ul><li>IAB </li></ul>
  13. 13. DUE DILIGENCE <ul><li>MODELS OF SOCIAL MEDIA MEASUREMENT </li></ul><ul><li>Virtue </li></ul><ul><ul><li>Calculates ‘value’ of a Facebook page using fan count, customer activity, brand activity, and a proprietary engagement multiplier </li></ul></ul><ul><ul><li>Configurable CPM of ‘earned media’ that defaults to $5 </li></ul></ul>
  14. 14. DEFINING SUCCESS <ul><li>WHAT IS THE OBJECTIVE? </li></ul>
  15. 15. <ul><li>BRIEF </li></ul><ul><li>Raise awareness of the new iQ city car through the use of social media </li></ul><ul><li>SOLUTION </li></ul><ul><li>Hypermiling identified as key topic through social research </li></ul><ul><li>Hypermiling stunt to drive to 18 cities on one tank of fuel </li></ul><ul><li>Project reported through a range of social media channels, Flickr, Twitter, YouTube, Google maps mashup and the iQ blog </li></ul><ul><li>Word of mouth used to contact influential bloggers lightly informing them of project </li></ul><ul><li>RESULTS </li></ul><ul><li>Programme ‘reached’ 105 million people worldwide. 3.7m in the UK, through coverage in 64 blogs, including Wired, New York Times and Treehugger </li></ul><ul><li>Traffic to iQ blog increased by 212% - 32x traffic from external sources </li></ul><ul><li>Traffic arrived with ‘advocacy’ in-built from independent editorial coverage </li></ul>WHAT IS THE OBJECTIVE? Awareness measured? Awareness up?
  16. 16. DEFINING SUCCESS <ul><li>WHAT WAS THE OBJECTIVE? </li></ul><ul><li>Ann Summers case study </li></ul><ul><ul><li>Reach, CPM, coverage, brand perception, ‘sentiment’ </li></ul></ul><ul><li>Toyota iQ case study </li></ul><ul><ul><li>Reach, coverage, traffic, traffic source, ‘advocacy’ </li></ul></ul>
  17. 17. DEFINING SUCCESS <ul><li>PROVING THE CASE </li></ul><ul><li>Be utterly clear on the objective. Measure against that alone </li></ul><ul><li>Use numbers, but only to tell a story </li></ul><ul><li>Compare - how else could the objective have been achieved? </li></ul><ul><li>Or… </li></ul>
  18. 18. <ul><li>TRUST ME I’M A MARKETER </li></ul>(SOURCE: Flickr.com/Matt McGee)
  19. 19. <ul><li>THANK YOU </li></ul>Email: [email_address] Twitter: @icrossing_uk Blog: http://connect.icrossing.co.uk Website: www.icrossing.co.uk

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