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From Community to Commerce: Making the ROI Connection
The document discusses the integration of social media into marketing strategies, emphasizing its role in enhancing community engagement and driving sales. It features insights from various industry experts, highlighting effective measurement of social ROI through sales, brand awareness, and engagement metrics. The content also addresses the importance of merging CRM and social data to optimize customer interactions and reduce acquisition costs.
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From Community to Commerce: Making the ROI Connection
- 1. From Community to Commerce: Makingthe ROI Connection #SMTLive
- 2. #SMTLive Thank You toOur Sponsor @Wayin
- 3. #SMTLive Join the Conversation… Followalong and share your thoughts on Twitter at #SMTLive Submit your questions in the GoToWebinar control panel
- 4. #SMTLive Our Speakers Meagan Fishis the Global Social Media Manager at iRobot, managing the company's community engagement strategy and global social platform expansion. Prior to iRobot, Meagan worked agency-side for social media clients including Dove, Heinz Ketchup and Bermuda Tourism. As a passionate digital marketer, she has spent the past decade working with brands to embrace social media in order to grow and nurture fan communities, improve customer relations, and drive qualified sales. @meaganfish Jordan Slabaugh is the VP of Marketing at Wayin. Jordan has spent the past decade building global brands. In her role as Vice President of Marketing at Wayin, Jordan leads all aspects of brand marketing, corporate communications and digital activation initiatives to further develop the Wayin brand and leadership in the marketing industry. With an extensive leadership track record in corporate marketing, brand communications and creative activation strategy, Jordan has spent her career building industry-leading marketing programs and consulting with the world’s largest brands on social and digital media. @jordanv Paul Dunay is an award-winning B2B marketing expert with more than 20 years’ success in generating demand and creating buzz for leading technology, consumer products, financial services and professional services organizations. Paul is the author of five “Dummies” books: Facebook Marketing for Dummies (Wiley 2009), Social Media and the Contact Center for Dummies (Wiley Custom Publishing 2010), Facebook Advertising for Dummies (Wiley 2010), Facebook Marketing for Dummies 2nd Edition (Wiley 2011) and Facebook Marketing for Dummies 3rd Edition (Wiley 2012). @PaulDunay Andrew Ashton leads social and CRM for Pizza Hut Canada, based in Toronto. Andrew previously led the Social Hive, Yum! Brands global social intelligence command center and managed digital marketing for BÀNH SHOP. During his time with Yum! Brands, Andrew developed daily global social reporting, managed a team of 5 analysts to provide global brands 24-hour social listening and helped Yum! Brands global digital marketing teams integrate social insights into their day-to-day activities. @AndrewLAshton
- 5. PAGE 5 92% ofconsumers trust other consumers in making purchasing decisions
- 6. PAGE 6 Social mustbe an integrated part of your marketing mix. …and not measured in different ways
- 7. PAGE 7 Traffic. Subscribers. Conversions.Revenue. Not “likes” and “engagement” What should you measure?
- 8. PAGE 8 tie fanstorytelling to sales
- 9. PAGE 9 social trendsturn into revenue
- 10. PAGE 10 Connect socialcontent to commerce
- 11. #SMTLive iRobot Road toSocial ROI Grow Qualified Fan Base Content Testing & Refining Engage Believers to Convert Skeptics Optimize Advertising with CRM Data Conversion Tracking & Measurement
- 12. #SMTLive Content Testing &Refining MAKE CONTENT ACTIONABLE: determine what issue(s) social content can help solve for your business • For iRobot and a developing industry product believability • Content key for organic + paid: show product working
- 13. #SMTLive Amplify Believers toConvert Skeptics INFLUENCERS: Social reach, demographic synergy, branded content must be authentic CUSTOMERS: Hyper-fans, establish ongoing UGC strategy, fan-only programs/sneak peaks
- 14. #SMTLive Connect CRM &Social CRM DATA + SOCIAL DATA = • Reduced social fan acquisition costs by 40% • Drove a significant increase to product registrations • Enabled segmented advertising for product launches to encourage upgrade messaging to pre-existing owners By merging social data into CRM we’ll be able to create more contextual and proactive customer engagements
- 15. #SMTLive Navigating Social ROI •Work back from overall goals to determine your ROI equation: – Sales (social conversions) – Brand awareness (e.g. social post impressions, traffic driven to .com) – Engagement (e.g. organic/paid engagement rates, positive sentiment, social customer service volume and reply time) • It’s a blended balance: social, CRM, website/eComm, analytics all need to be in sync to solve for social ROI
- 16. #SMTLive HOW WE CALCULATEROI $ Daily / Window Promotions Units Sales Lift Clicks Brand Awareness Metrics Social Activations Related Units Sold Reach Traffic +/- $ Programmatic Campaigns Traffic +/- Native Pixel Analytics Clicks Community Management / Website Analytics / Social Intelligence
- 17. #SMTLive SOCIAL ADVERTISING Daily /Window Promotions Programmatic Campaigns Major national sales liftMajor regional sales lift Major increase in frequency
- 18. #SMTLive SOCIAL ACTIVATIONS ROI MinimalInvestment Scrappy team Smart Influencers = 15 million + impressions 40,000 + followers 68% brand sentiment Massive website traffic increase
- 19. #SMTLive Join the Conversation… Followalong and share your thoughts on Twitter at #SMTLive Submit your questions in the GoToWebinar control panel
- 20. #SMTLive Our Speakers Meagan Fishis the Global Social Media Manager at iRobot, managing the company's community engagement strategy and global social platform expansion. Prior to iRobot, Meagan worked agency-side for social media clients including Dove, Heinz Ketchup and Bermuda Tourism. As a passionate digital marketer, she has spent the past decade working with brands to embrace social media in order to grow and nurture fan communities, improve customer relations, and drive qualified sales. @meaganfish Jordan Slabaugh is the VP of Marketing at Wayin. Jordan has spent the past decade building global brands. In her role as Vice President of Marketing at Wayin, Jordan leads all aspects of brand marketing, corporate communications and digital activation initiatives to further develop the Wayin brand and leadership in the marketing industry. With an extensive leadership track record in corporate marketing, brand communications and creative activation strategy, Jordan has spent her career building industry-leading marketing programs and consulting with the world’s largest brands on social and digital media. @jordanv Paul Dunay is an award-winning B2B marketing expert with more than 20 years’ success in generating demand and creating buzz for leading technology, consumer products, financial services and professional services organizations. Paul is the author of five “Dummies” books: Facebook Marketing for Dummies (Wiley 2009), Social Media and the Contact Center for Dummies (Wiley Custom Publishing 2010), Facebook Advertising for Dummies (Wiley 2010), Facebook Marketing for Dummies 2nd Edition (Wiley 2011) and Facebook Marketing for Dummies 3rd Edition (Wiley 2012). @PaulDunay Andrew Ashton leads social and CRM for Pizza Hut Canada, based in Toronto. Andrew previously led the Social Hive, Yum! Brands global social intelligence command center and managed digital marketing for BÀNH SHOP. During his time with Yum! Brands, Andrew developed daily global social reporting, managed a team of 5 analysts to provide global brands 24-hour social listening and helped Yum! Brands global digital marketing teams integrate social insights into their day-to-day activities. @AndrewLAshton
- 21. #SMTLive Thank You toOur Sponsor @Wayin
- 22. #SMTLive Upcoming Webinar November 12th BigData at The Speed of Business – How Customer Service Satisfaction & Costs Are Driving the Telecom Business
Editor's Notes
- #6 It’s no secret that today’s consumers are increasingly skeptical of traditional advertising Consumers are far more likely to purchase based on word-of-mouth recommendations than marketing messages UGC is the most persuasive content How can you use user-generated content to persuade and influence the purchasing decision? How do you discover the right content or trends to tell your story? How do you drive behavior on social and off social to move marketing / commerce results?
- #9 We’ve seen brands do this in a number of innovative ways For example - 20th Century Fox noticed early on that their fans were turning to social to express their excitement for an upcoming film The producer tapped into the power of social persuasion to drive ticket sales/revenue Injected Tweets into 200+ unique linear TV commercial spots across 8 networks Drove calls-to-action with real-time user-generated content As a result, Let’s Be Cops more than quadrupled expected revenue
- #10 Data isn’t just helping target/direct message to a group, it becomes your message and gives you a new take on social activity that provides knowledge/piques interest of audience Data (e.g. what product is being discussed most frequently) becomes a tool website visitors can use to base their purchases on Best Buy tapped into social insights via a trending widget They saw a 24% click-through instead of regular 2-3% click-through
- #11 Which metrics matter in the connection between digital community and business bottom line? Major ecommerce company– not measuring how many people engaged in the campaign A/B Accountability of the value of Social. Social needs to be measured against marketing not Social Measurable -- so you can evaluate your approach and change it based on measures that matter Digital -- offers a more precise breakdown of return and user behavior Social should have the same accountability Ultimately, revenue matters Increased expectations to prove how this had an impact Future: revenue and social becoming a part of the ROI equation A/B testing to show the impact of social on e-commerce purchasing decisions