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Ilona fpra luncheon


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Ilona fpra luncheon

  1. 1. Social Media Measurement<br />The Why’s and How To’s<br />@eyelona<br />Ilona Olayan<br /><br />
  2. 2. 2<br />
  3. 3. Evolution of Online Marketing<br />Relationship<br />Value: Web as a relationship management platform<br />Primary Goals: Engaging prospects and customers outside of their website<br />Secondary Goals: Lead generation, drive traffic, thought leadership and branding<br />Measurements: Cost of sales, customer retention, brand penetration, measurement from interaction/direct results stage<br />Marketing tactics:<br />Video communities<br />Two-way ads<br />Messaging connections using trigger marketing<br />Successful tactics from direct results stage<br />Experimentation<br />Value: Web as a promotional vehicle<br />Primary Goals: Trial of a new media concept, gain eyeballs, build brand and drive awareness<br />Measurements: Cost per impression<br />Marketing tactics:<br />Branding – buttons, banners<br />Email – newsletters, list rentals<br />3<br />Direct Results <br /><ul><li>Value: Web as a direct results platform
  4. 4. Primary Goals: Drive traffic and lead generation
  5. 5. Secondary Goals: Thought leadership and branding
  6. 6. Measurements: CPL, CPC, brand measurements confirmed through surveys
  7. 7. Marketing tactics:
  8. 8. Search ads
  9. 9. Lead gen – white papers, webcasts
  10. 10. Branding – microsites
  11. 11. Email – list rentals</li></li></ul><li>
  12. 12. 5<br />
  13. 13. Consider…<br />Social networks and blogs are the 4th most popular activity…ahead of personal email<br />82.5 million people created online content in the US alone in 2008 – 116 million this year and growing<br />71 million on social networks<br />21 million posted blogs<br />15 million uploaded videos<br />11 million participated in virtual worlds<br />Yelp! had 38 million unique visitors in August and <br />12 million reviews to date<br />87% trust peer recommendations<br />6<br />Source: eMarketer<br />
  14. 14. Fiduciary Responsibility<br />Social media strategy because it touches every facet of your business<br />Your company’s success or failure will be largely dependent on your social media success. <br />So what are the steps that companies need to take in social media? There are 4 primary ones:<br />Listen: What is being said about us?<br />Learn: After listening you can then join and contribute to the conversation<br />React: This means what are you doing about it what is being said? Are you improving your product or service based on this feedback?<br />Sell: All of the first three steps contribute to your ultimate goal of selling more!<br />7<br />
  15. 15. According to McKinsey (April 2010):<br />“The rewards of pursuing excellence in word-of-mouth are huge, and it can deliver a significant competitive edge few other marketing approaches can match”<br />“It’s the most disruptive factor in marketing”<br />“Marketing-induced consumer-to-consumer word of mouth generates more than twice the sales of paid advertising”<br />When McKinsey weighs in, your know you’re talking about a topic that has C-Suite attention<br />8<br />The Power of Word of Mouth<br />
  16. 16. Who is Watching Those Mentions For Your Brand and What Can You Do With It?<br />Using Human Intelligence to ‘make sense of the noise’<br />Gauge relevant sentiment <br />Develop online business strategy<br />Establish FAQs to address underlying online sentiment<br />Execute implementation strategy <br />Engage with audience using FAQs as general guidelines<br />Proactive – with coupons, incentives and promotions<br />Reactive - by selectively responding to sentiment with fact<br />Escalate comments which can lead to sales or marketing opportunities (i.e. leads, testimonials, legal)<br />Identify similar online communities for business benefit and proactively participate<br />Analyze and discuss important metrics acquired through systems like Social Strategy1<br />Make recommendations to adjust strategy based on sentiment<br />9<br />Don’t Miss the Opportunity to Connect with Buyers!<br />
  17. 17. 10<br />Social Media for Lead Generation<br />
  18. 18. Dunkin Donuts Online Success<br />Maintain 80% fewer Facebook and Twitter followers than Starbucks<br />Dunkin’ Donuts fans 35% more likely to recommend the brand (Starbucks lack of personal connection, superiority of taste, shareholder value)<br />Online Marketing Approach is “turn real people into online celebrities”<br />Contest <br />Customer submitted pics of themselves drinking iced coffee in the winter matched with in store discount<br />Results<br />140 submissions generated 3.9 million product plugs through posts and status updates<br />Next online only contest drew 290,674 submissions and now an annual event<br />
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  20. 20. Gap’s Real Monetization Story<br />Resulted in 440,000 purchases equating to $11 million in sales. <br />With a national TV campaign, what’s the likelihood they would have gotten nearly 500,000 paying buyers in the store?<br />13<br />
  21. 21. Monitor Conversations about Your Brand and Competitors <br />Proven value of monitoring conversations and responding to leads<br />8th Continent monitored mentions of Silk brand soy milk, one of their competitors, and offered trial coupons to users<br />One tweeter received a coupon after tweeting about her bad experience with Silk chocolate soy milk –redeemed that week. <br />Coupons distributed via social media resulted in 39% redemption rate, versus the 0.7% redemption of hard copy coupons<br />During coupon promotions they saw huge spikes in their fan base and a lot of pass along<br />14<br />
  22. 22. Measurement<br />Revenue<br />Revenue is one form of the metrics we use to measure<br />While much of social media is free, we do know the cost of engagement as it relates to:<br />Employees<br />Time<br />Equipment<br />Opportunity cost (what they’re not focusing on or accomplishing while engaging in social media). <br />Tying those costs to the results will reveal a formula for assessing the “I” in investment.<br />
  23. 23. What’s the Cost of Doing Nothing?<br />16<br />“In 2011 there will be an estimated 3 billion people using the Internetto communicate, collaborate and link with other like-minded folks.”<br /><ul><li>Tom Hayes | Jump Point</li></ul>Do You Really Want to Take That Risk?<br />
  24. 24. Contact Information<br />Ilona Olayan | Director, Marketing and Sales Support | Social Strategy1<br /><br /><br />Twitter:@eyelona & @sstrategy1<br />17<br />