Social Media ROI


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V3 Presentation on Social Media ROI

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Social Media ROI

  1. 1. V3 Integrated Marketing
  2. 2. Social Media ROI <ul><li>When it comes to Social Media ROI, these things are a given: </li></ul><ul><li>It’s HARD to measure </li></ul><ul><li>  </li></ul><ul><li>It’s NOT like advertising </li></ul><ul><li>The REAL value of Social Media and Blogging is this: </li></ul><ul><li>  </li></ul><ul><li>It can be used to turn your business into a magnet for attracting the kind of customers and clients you WANT to have.    </li></ul>
  3. 3. Old World Way to Reach Customers Banner Website Call Center Sales Rep Phone Lead Gen Direct Mail Search Phone
  4. 4. Old World Way to Reach Customers Direct Marketing = Fire Hose
  5. 5. New World Way to Reach Customers en Sales Rep Call Center Website IP TV Rating Sites Social Video TV Print E-Mail Banner Mobile Blogs Community Organic Search Lead Gen Direct mail Paid Search Widgets
  6. 6. New World Way to Reach Customers Brand Marketing = Envelope them in a Fog
  7. 7. Inbound Marketing <ul><li>  </li></ul>
  8. 8. Inbound Marketing is More Effective Source: State of Inbound Marketing Report -
  9. 9. How Does This Impact Your Business?
  10. 10. Social Media is for Leads and Sales Source: State of Inbound Marketing Report -
  11. 11. 74%       Percentage of small business owners that say social media helps them close business.     Source: Inc Magazine -
  12. 12. Companies with more indexed pages on Google, Yahoo and Bing generate more sales leads.   Every 50 to 100 incremental indexed pages can mean double-digit lead growth. Growth in new leads accelerates significantly once websites achieve 300+ pages indexed by Google. More Indexed Pages = $
  13. 13. Leads by Indexed Web Pages Source: State of Inbound Marketing Lead Generation Report -
  14. 14. 67%       Increase in monthly sales leads for companies that blog over companies that don't blog.   Source: Data from over 1,500 small businesses -
  15. 15. 434%       Increase in website pages indexed by Google for companies that blog over companies that don't blog.   Source: Data from over 1,500 small businesses -
  16. 16. 97% of Consumers are searching online for products and services. Their behavior has changed. Have your marketing tactics changed with them?
  17. 17. Apples aren’t Oranges <ul><li>You CAN’T </li></ul><ul><li>measure Social Media like a </li></ul><ul><li>Traditional Channel . So </li></ul><ul><li>don’t try to make an Apple out of </li></ul><ul><li>an Orange </li></ul>
  18. 18. Don’t Despair, (hang on) <ul><li>Before ROI, you get this: </li></ul><ul><li>Increase in site traffic </li></ul><ul><li>Increase in time spent on site </li></ul><ul><li>Views of a specific landing page, blog post or offer </li></ul><ul><li>Increased follower/like/friend base </li></ul><ul><li>Increase in Share of Voice </li></ul><ul><li>Increase in Positive Sentiment </li></ul>
  19. 19. PATIENCE is a Virtue <ul><li>Because, what you GET is this: </li></ul><ul><li>Increased revenue </li></ul><ul><li>More leads </li></ul><ul><li>Shorter sales cycles </li></ul><ul><li>Lower customer acquisition costs </li></ul><ul><li>Lower customer service costs </li></ul><ul><li>Lower customer retention costs </li></ul><ul><li>(WooHoo – Boss is Happy!) (Priceless) </li></ul>
  20. 20. Says WHO? <ul><li>Gary Vaynerchuck </li></ul><ul><li>Took family wine business from $4M to $50M </li></ul><ul><li>via social media </li></ul><ul><li>He found that spending: </li></ul><ul><li>$15K on direct mail netted 200 new customers </li></ul><ul><li>$7500K on billboards netted 300 new customers </li></ul><ul><li>$0 on social media (other than time) netted 1800 new customers </li></ul><ul><li>Source: Erik Qualman, Socialnomics </li></ul>
  21. 21. Says WHO? <ul><li>Moonfruit – A Web Hosting Firm </li></ul><ul><li>Invested $15K in social media </li></ul><ul><li>Web traffic up 300% </li></ul><ul><li>Sales up 20% </li></ul><ul><li>Source: Erik Qualman, Socialnomics </li></ul>
  22. 22. Says WHO? <ul><li>FORD </li></ul><ul><li>25% of Ford’s ENTIRE marketing spend </li></ul><ul><li>is on social media </li></ul><ul><li>(Pssst: Think there’s a reason for that?) </li></ul><ul><li>Source: Erik Qualman, Socialnomics </li></ul>
  23. 23. Says WHO? <ul><li> (software company) </li></ul><ul><li>24% of their LEADS convert </li></ul><ul><li>to SALES opportunities </li></ul><ul><li>Source: Erik Qualman, Socialnomics </li></ul>
  24. 24. Says WHO? <ul><li>Susan G Komen Foundation </li></ul><ul><li>@TweetsForACause , headquartered in Atlanta, sent out a tweet to encourage SUPPORT of their annual Komen event . The “Twitter family” and their ability to raise awareness from all over the world – resulted in 11,000 visitors to the Atlanta chapter’s site in 24 hours </li></ul><ul><li>Source: Erik Qualman, Socialnomics </li></ul>
  25. 25. Back to the Tricky Question – That Pesky ROI <ul><li>The Key is BENEFITS </li></ul><ul><li>Short vs. Long </li></ul><ul><li>Financial vs. Non-Financial </li></ul>
  26. 26. Create a SCORECARD <ul><li>Financial: Has Revenue/Profit increased? Have Costs decreased? </li></ul><ul><li>Brand: Have consumer attitudes about the brand improved? </li></ul><ul><li>Risk Management: Better prepared to find/respond? </li></ul><ul><li>Digital: Has the company enhanced its assets ? </li></ul>
  27. 27. If You’re Not Measuring <ul><li>You’re not MARKETING </li></ul><ul><li>Start with a STRATEGY </li></ul><ul><li>Measure. Test. Test. Measure again. </li></ul><ul><li>Test some more. </li></ul><ul><li>Measure again. </li></ul><ul><li>Adapt. Change. Watch. Listen. </li></ul><ul><li>Adapt some more. </li></ul>
  28. 28. Your Scorecard Source, Augie Ray, Forrester Genius,
  29. 29. And Remember, It All Starts Here - With Your Website <ul><li>It Starts Here </li></ul>
  30. 30. V3 Integrated Marketing Vision + Voice + Value This work is the unwed brainchild of @shellykramer + @michellelamar